Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
--Australian packaging company Amcor is set to purchase its biggest competitor, Rio Tinto's Alcan Packaging business for A$2.4 billion. Amcor chief executive Ken MacKenzie is expected to finalise the details in Sydney and make an official announcement today. The acquisition would turn Amcor into the largest packaging company in the world with annual revenue boosting from A$10 billion to A$14 billion. The deal will be funded by a A$1.6 billion equity raising and approximately A$800 million in debt. Page 1.
--Australian Prime Minister Kevin Rudd's renewable energy target could be approved this week after the Federal Government confirmed that it would separate the bill from the remainder of the climate change package. This would unlock up to A$28 billion of investment in green energy. The renewable energy policy is currently supported by the coalition, the Greens and independent senator Nick Xenophon. However the emissions trading legislation was rejected by the Senate in a vote last Thursday. Page 1.
--The sale of Queensland's Cubbie Station, which has endured several years of drought and financial hardship, is expected to reach approximately A$500 million. The property's owner the Cubbie Group is attempting to lower its debt to the National Australia Bank and Suncorp. The property is behind Australia's controversial water buyback scheme, and its sale will bring increased pressure to Climate Change Minister Penny Wong to clearly indicate the Federal Government's intention to purchase water from the property. Page 1.
--The Federal Government is seeking to cut back on migration that is considered to have modest value to the economy by setting a minimum salary level for entry by skilled migrants, and placing a cap on the number of migrants allowed in certain occupations.
Analysts report that the reforms will be made to the migration occupations in demand list. Industry groups however are concerned that the proposals will lead to a preference for high-pay, high-skill workers, rather than fulfill the labour needs of the Australian economy. Page 3.
THE AUSTRALIAN (www.theaustralian.news.com.au)
--Analysts report that property investors are set to re-enter the property market. Dan Molloy, managing director of the Real Estate Institute of Queensland advised that although the beginning of 2009 was dominated by first-home buyers, the last few months had seen a decrease in that market to more normal levels, and an increase in the activity of investors. He further stated that the view of investors is that 'interest rates are at the bottom of the cycle and rental yields have held up well in the current market.' Page 2.
--The first national broadband network (NBN) to be released in Tasmania will cost over A$20,000 for each property that takes up the superfast internet connection. The Federal Rudd government and Tasmanian Bartlett government are jointly involved in the rollout, however they refuse to reveal how much of taxpayer-funded money would be used in the venture. Analysts report that approximately 17 per cent of the 200,000 homes targeted are taking up the NBN, which equates to a cost of A$20,588 a unit. Page 2.
--Detained Rio Tinto executive Stern Hu has hired leading Chinese lawyer Duan Qihan to defend him against accusations of bribery and illegally obtaining trade secrets. Mr Hu has taken advise from legal circles in China that using an in-house lawyer would not be productive. Mr Duan is the founder of the first private law firm in China and has strong links to the government. His company employs around 50 lawyers, most of whom studied overseas, and has offices in Seattle, Hong Kong and Beijing. Page 2.
--Australian Defence Force Brigadier General Damien Cantwell was providing his daily electronic briefing in a protected North Atlantic Treaty Organisation (NATO) area when the Taliban set off a huge suicide explosion outside the International Security Assistance Force headquarters in Kabul. The blast killed seven Afghan nationals and injured almost 100 others. The officers felt the rattle in the building however continued on with their work to co-ordinate the whole NATO security force leading up to Afghanistan's presidential election on August 20. Page 1.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--The whole anaesthetists team at St Vincent's Private Hospital in Sydney is under investigation for acting as a cartel.
Over 30 doctors are under review by the Australian Competition and Consumer Commission (ACCC) for restrictive behaviour, which consequently provides exclusive access to Sydney's most profitable operating lists. The ACCC demanded the group of doctors to justify its existence and membership system, and defend how patient's fees are determined. Page 1.
--A government report released yesterday states that the best teachers would be given substantial pay rises and shared between various schools as part of a performance-based system. It advises that teachers should be paid higher in return for teaching in more difficult schools, taking part in training, and who are judged by a national set of benchmarks. The report further states that good teachers should be spread through the education system to ensure all students have access to great teaching. Page 3.
--The records books may have recorded yesterday as a cool day, but the 25.7 degrees reached in Sydney was enough to entice thousands of people to head outdoors. Extra lifeguards were posted at Sydney beaches as the temperature reached its warmest point at 2.41pm. The weather was still cool however compared to August's hottest day of 31.3 degrees on August 26, 1995. Peter Zmijewski from the weather bureau advised that 'it was a warm day for this time of the year but nothing really unusual.' Page 3.
--The remains of the 13 Kokoda aircraft crash victims, 9 of which were Australians, have been recovered in one of the most difficult recovery operations to happen in Papua New Guinea (PNG). Analysts report that Australian and PNG police and military personnel endured muddy, slippery and near-freezing conditions for five days to recover the remains of the crash on a mountain ridge near a Kokoda trekking village. An AAP journalised described the site as a 'sombre feeling of work still to be done.' Page 3.
THE AGE (www.theage.com.au)
--Melbourne University is looking to change the way its students are admitted entry into the school, admitting that the university's reliance on the Equivalent National Tertiary Entrance Rank, also known as the ENTER score, can be a false academic measure and does not provide enough opportunity to people from poorer backgrounds. The university argues that it should put more emphasis on other methods such as aptitude tests, special entry access schemes, civics tests, or personal essays.
Page 3.
--Bushfire-affected families unable to receive rebuilding grants due to restrictions in tax laws, will benefit under changes declared by the Federal Government today. Assistant Treasurer Nick Sherry will announce amendments to the law effective immediately, allowing the Victorian Bushfire Appeal Fund to provide A$51 million tied up due to a technicality, which prevented businesses from accessing charity donations. Families whose properties were owned by a trust or business are now eligible for grants of up to A$10,000. Page 3 .
--Approximately 55 per cent of a national poll taken from Thursday to Sunday want the government to bring back the emissions trading scheme legislation in three months, following its defeat in the Senate. Analysts further report that preference for Labor has fallen two points, taking its lead to 56-44 per cent. However Kevin Rudd's margin over Opposition Leader Malcolm Turnbull as preferred prime minister has risen two points to 67-24. This is Mr Turnbull's lowest ever approval rating. Page 4. --
Keywords: DIGEST AUSTRALIA GENERAL (Sydney Newsroom +61-2 9373 1800; sydney.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
--Australian packaging company Amcor is set to purchase its biggest competitor, Rio Tinto's Alcan Packaging business for A$2.4 billion. Amcor chief executive Ken MacKenzie is expected to finalise the details in Sydney and make an official announcement today. The acquisition would turn Amcor into the largest packaging company in the world with annual revenue boosting from A$10 billion to A$14 billion. The deal will be funded by a A$1.6 billion equity raising and approximately A$800 million in debt. Page 1.
--Australian Prime Minister Kevin Rudd's renewable energy target could be approved this week after the Federal Government confirmed that it would separate the bill from the remainder of the climate change package. This would unlock up to A$28 billion of investment in green energy. The renewable energy policy is currently supported by the coalition, the Greens and independent senator Nick Xenophon. However the emissions trading legislation was rejected by the Senate in a vote last Thursday. Page 1.
--The sale of Queensland's Cubbie Station, which has endured several years of drought and financial hardship, is expected to reach approximately A$500 million. The property's owner the Cubbie Group is attempting to lower its debt to the National Australia Bank and Suncorp. The property is behind Australia's controversial water buyback scheme, and its sale will bring increased pressure to Climate Change Minister Penny Wong to clearly indicate the Federal Government's intention to purchase water from the property. Page 1.
--The Federal Government is seeking to cut back on migration that is considered to have modest value to the economy by setting a minimum salary level for entry by skilled migrants, and placing a cap on the number of migrants allowed in certain occupations.
Analysts report that the reforms will be made to the migration occupations in demand list. Industry groups however are concerned that the proposals will lead to a preference for high-pay, high-skill workers, rather than fulfill the labour needs of the Australian economy. Page 3.
THE AUSTRALIAN (www.theaustralian.news.com.au)
--Analysts report that property investors are set to re-enter the property market. Dan Molloy, managing director of the Real Estate Institute of Queensland advised that although the beginning of 2009 was dominated by first-home buyers, the last few months had seen a decrease in that market to more normal levels, and an increase in the activity of investors. He further stated that the view of investors is that 'interest rates are at the bottom of the cycle and rental yields have held up well in the current market.' Page 2.
--The first national broadband network (NBN) to be released in Tasmania will cost over A$20,000 for each property that takes up the superfast internet connection. The Federal Rudd government and Tasmanian Bartlett government are jointly involved in the rollout, however they refuse to reveal how much of taxpayer-funded money would be used in the venture. Analysts report that approximately 17 per cent of the 200,000 homes targeted are taking up the NBN, which equates to a cost of A$20,588 a unit. Page 2.
--Detained Rio Tinto executive Stern Hu has hired leading Chinese lawyer Duan Qihan to defend him against accusations of bribery and illegally obtaining trade secrets. Mr Hu has taken advise from legal circles in China that using an in-house lawyer would not be productive. Mr Duan is the founder of the first private law firm in China and has strong links to the government. His company employs around 50 lawyers, most of whom studied overseas, and has offices in Seattle, Hong Kong and Beijing. Page 2.
--Australian Defence Force Brigadier General Damien Cantwell was providing his daily electronic briefing in a protected North Atlantic Treaty Organisation (NATO) area when the Taliban set off a huge suicide explosion outside the International Security Assistance Force headquarters in Kabul. The blast killed seven Afghan nationals and injured almost 100 others. The officers felt the rattle in the building however continued on with their work to co-ordinate the whole NATO security force leading up to Afghanistan's presidential election on August 20. Page 1.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--The whole anaesthetists team at St Vincent's Private Hospital in Sydney is under investigation for acting as a cartel.
Over 30 doctors are under review by the Australian Competition and Consumer Commission (ACCC) for restrictive behaviour, which consequently provides exclusive access to Sydney's most profitable operating lists. The ACCC demanded the group of doctors to justify its existence and membership system, and defend how patient's fees are determined. Page 1.
--A government report released yesterday states that the best teachers would be given substantial pay rises and shared between various schools as part of a performance-based system. It advises that teachers should be paid higher in return for teaching in more difficult schools, taking part in training, and who are judged by a national set of benchmarks. The report further states that good teachers should be spread through the education system to ensure all students have access to great teaching. Page 3.
--The records books may have recorded yesterday as a cool day, but the 25.7 degrees reached in Sydney was enough to entice thousands of people to head outdoors. Extra lifeguards were posted at Sydney beaches as the temperature reached its warmest point at 2.41pm. The weather was still cool however compared to August's hottest day of 31.3 degrees on August 26, 1995. Peter Zmijewski from the weather bureau advised that 'it was a warm day for this time of the year but nothing really unusual.' Page 3.
--The remains of the 13 Kokoda aircraft crash victims, 9 of which were Australians, have been recovered in one of the most difficult recovery operations to happen in Papua New Guinea (PNG). Analysts report that Australian and PNG police and military personnel endured muddy, slippery and near-freezing conditions for five days to recover the remains of the crash on a mountain ridge near a Kokoda trekking village. An AAP journalised described the site as a 'sombre feeling of work still to be done.' Page 3.
THE AGE (www.theage.com.au)
--Melbourne University is looking to change the way its students are admitted entry into the school, admitting that the university's reliance on the Equivalent National Tertiary Entrance Rank, also known as the ENTER score, can be a false academic measure and does not provide enough opportunity to people from poorer backgrounds. The university argues that it should put more emphasis on other methods such as aptitude tests, special entry access schemes, civics tests, or personal essays.
Page 3.
--Bushfire-affected families unable to receive rebuilding grants due to restrictions in tax laws, will benefit under changes declared by the Federal Government today. Assistant Treasurer Nick Sherry will announce amendments to the law effective immediately, allowing the Victorian Bushfire Appeal Fund to provide A$51 million tied up due to a technicality, which prevented businesses from accessing charity donations. Families whose properties were owned by a trust or business are now eligible for grants of up to A$10,000. Page 3 .
--Approximately 55 per cent of a national poll taken from Thursday to Sunday want the government to bring back the emissions trading scheme legislation in three months, following its defeat in the Senate. Analysts further report that preference for Labor has fallen two points, taking its lead to 56-44 per cent. However Kevin Rudd's margin over Opposition Leader Malcolm Turnbull as preferred prime minister has risen two points to 67-24. This is Mr Turnbull's lowest ever approval rating. Page 4. --
Keywords: DIGEST AUSTRALIA GENERAL (Sydney Newsroom +61-2 9373 1800; sydney.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.