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)
--The National Australia Bank's (NAB) monthly business survey released yesterday shows strong performance in the business sector, with strong signs the economy is recovering. Businesses are hiring workers at the most rapid rate in over two years; the Forward Orders Index is close to a six-year high; and economic growth could reach four percent by the end of the year. Alan Oster, chief economist at NAB, noted that it was unusual to see a robust recovery spread across all major sectors of the economy.
Page 1.
--The proposed A$125 billion BHP Billiton and Rio Tinto iron ore joint venture in the Pilbara region of Western Australia is being challenged by the international steel industry. Eurofer, representing European steelmakers, is confident that the competition regulator of the European Commission will impose conditions on the deal. The Australian Competition and Consumer Commission is investigating the venture's impact on steelmaker BlueScope Steel.
Chinese, Japanese and Korean steelmakers are also scrutinising the venture. Page 1
--Federal Resources Minister Martin Ferguson, who has been discussing tax with the resources industry, has reported that 'feedback from the industry is that it is not who collects the tax but what the tax take is.' The Henry tax review is expected to recommend that the myriad of state based royalties be replaced by a resource rent tax. The Minerals Council of Australia requested any change to taxation be internationally competitive, efficient and equitable. Page 5
--On Monday, Deputy Prime Minister Julia Gillard announced a A$14 million taskforce to investigate alleged irregularities in the Building the Education Revolution program. Andrew Barr, Australian Capital Territory (ACT) Education Minister, said costs in the ACT met industry standard costs. In Queensland, auditors PricewaterhouseCoopers reported that value for money was being achieved. In New South Wales, the program was being reviewed by both the auditor-general and consulting and advisory firm Deloitte. Page 7
THE AUSTRALIAN (www.theaustralian.news.com.au)
--The Cooper review into superannuation is planning to require superannuation funds to offer a low-cost fund called MySuper. According to a confidential discussion paper leaked this week, the Federal Government will not establish a separate super fund but instead introduce MySuper, which lowers fees by giving members limited flexibility and reduced levels of disclosure. 'Members do not inadvertently pay for 'bells and whistles' they either don't want or don't know about,' the document says. Page 1.
--Victorian Premier John Brumby has played down Prime Minister Kevin Rudd's threat to hold a referendum on health reform as a farce, saying that voters would not support having a 'bureaucratic monolith' in Canberra that runs public hospitals.
Mr Brumby yesterday claimed that Mr Rudd's Local Area Hospitals Network would 'frighten' the public, likening him to former Queensland premier Joh Bjelke-Petersen for 'holding the states to ransom.' Page 1.
--Construction company Hansen Yuncken's head site manager, Bruce Martin, has stated that when Deputy Prime Minister Julia Gillard cited the percentage payable as project management fees she was out by a factor of two. Mr Martin yesterday said that contractors are usually paid a project management fee of around 2 percent with some preliminaries. 'They (Ms Gillard) mentioned 4 per cent; it's normally around 2 per cent,' Mr Martin added.
Page 1.
--Church groups have criticised the Australian Labor Party for deciding to suspend Sri Lankan asylum claims for three months and Afghan claims for six months. Australian Catholic Bishops Conference general secretary Brian Lucas yesterday said that asylum-seekers need to be handled both justly and humanely. 'A unilateral decision that defers even the consideration of a claim seems to have no other value than to provide some form of deterrent,' Mr Lucas added. Page 2.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--The hospitality company, Justin Hemmes' family-owned Merivale Group, has purchased the Beresford Hotel in Surry Hills for A$14.6 million. The previous owner, Ashod Nassibian, spent A$40 million to buy and renovate the hotel. The Beresford will compete for big-spending party people with The Winery, which is nearby and owned by rival Fraser Short's Keystone Hospitality company. Page 3.
--The latest Australian Property Monitors data shows that rental prices in Sydney and its surrounding suburbs have remained steady. The median weekly rent paid for a house in the central business district and eastern suburbs was A$750; the average rent paid in Canterbury-Bankstown was A$420 a week. A policy officer at the Tenants' Union of New South Wales, Chris Martin, yesterday said that unchanged rent prices showed that tenants were unable to pay higher prices. Page 3.
--Australia Post has asked the Australian Competition and Consumer Commission to approve a proposed A5 cent hike in standard letter stamp prices to A60 cents each. The government-owned postal service yesterday claimed that changes in behaviour caused by the global financial crisis had reduced the volume of letters delivered by more than was expected when an earlier request was rejected in December last year. Letter volumes are likely to dwindle by 5.8 percent in fiscal 2010.
Page 3.
THE AGE (www.theage.com.au)
--Victoria Police senior sergeant Andrew Miles yesterday told the Coroners Court that using Taser guns and alcohol-based capsicum spray could result in the ignition of offenders. Mr Miles made the remark in response to an inquest into a man who was unintentionally burnt to death after being sprayed with a capsicum aerosol. 'A water-based spray with a nitrogen propellant is a realistic option which would eliminate this risk,' Mr Miles said. Page 3.
--The Australian Survey of Social Attitudes, conducted between December 2009 and February 2010, shows 69 percent of respondents thought Australia did not need more people. The most opposed to population growth were Queenslanders (73 percent), followed by Victorians (70 percent), and then residents of New South Wales (69 percent), while the Australian Capital Territory had 50 percent in favour of growth. Swinburne University sociologist Katharine Betts yesterday said the data showed 'widespread opposition to the idea of a 'big Australia.' Page 5.
--An Australian Broadcasting Corporation (ABC) report exposing problems within the Thai royal family is believed to have breached Thai laws that prohibit criticism of the Asian nation's royalty. A reporter on ABC's Foreign Correspondent, Eric Campbell, could face 18 years in prison. However, ABC's Bangkok bureau was rumoured to have been evacuated prior to screening the report. 'Unfortunately I can never go back to Thailand,' Mr Campbell said. Page 7.
Keywords: DIGEST AUSTRALIA GENERAL (Sydney Newsroom +61-2 9373 1816; sydney.newsroom@allreleases.net) COPYRIGHT Copyright Thomson Reuters 2010. 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)
--The National Australia Bank's (NAB) monthly business survey released yesterday shows strong performance in the business sector, with strong signs the economy is recovering. Businesses are hiring workers at the most rapid rate in over two years; the Forward Orders Index is close to a six-year high; and economic growth could reach four percent by the end of the year. Alan Oster, chief economist at NAB, noted that it was unusual to see a robust recovery spread across all major sectors of the economy.
Page 1.
--The proposed A$125 billion BHP Billiton and Rio Tinto iron ore joint venture in the Pilbara region of Western Australia is being challenged by the international steel industry. Eurofer, representing European steelmakers, is confident that the competition regulator of the European Commission will impose conditions on the deal. The Australian Competition and Consumer Commission is investigating the venture's impact on steelmaker BlueScope Steel.
Chinese, Japanese and Korean steelmakers are also scrutinising the venture. Page 1
--Federal Resources Minister Martin Ferguson, who has been discussing tax with the resources industry, has reported that 'feedback from the industry is that it is not who collects the tax but what the tax take is.' The Henry tax review is expected to recommend that the myriad of state based royalties be replaced by a resource rent tax. The Minerals Council of Australia requested any change to taxation be internationally competitive, efficient and equitable. Page 5
--On Monday, Deputy Prime Minister Julia Gillard announced a A$14 million taskforce to investigate alleged irregularities in the Building the Education Revolution program. Andrew Barr, Australian Capital Territory (ACT) Education Minister, said costs in the ACT met industry standard costs. In Queensland, auditors PricewaterhouseCoopers reported that value for money was being achieved. In New South Wales, the program was being reviewed by both the auditor-general and consulting and advisory firm Deloitte. Page 7
THE AUSTRALIAN (www.theaustralian.news.com.au)
--The Cooper review into superannuation is planning to require superannuation funds to offer a low-cost fund called MySuper. According to a confidential discussion paper leaked this week, the Federal Government will not establish a separate super fund but instead introduce MySuper, which lowers fees by giving members limited flexibility and reduced levels of disclosure. 'Members do not inadvertently pay for 'bells and whistles' they either don't want or don't know about,' the document says. Page 1.
--Victorian Premier John Brumby has played down Prime Minister Kevin Rudd's threat to hold a referendum on health reform as a farce, saying that voters would not support having a 'bureaucratic monolith' in Canberra that runs public hospitals.
Mr Brumby yesterday claimed that Mr Rudd's Local Area Hospitals Network would 'frighten' the public, likening him to former Queensland premier Joh Bjelke-Petersen for 'holding the states to ransom.' Page 1.
--Construction company Hansen Yuncken's head site manager, Bruce Martin, has stated that when Deputy Prime Minister Julia Gillard cited the percentage payable as project management fees she was out by a factor of two. Mr Martin yesterday said that contractors are usually paid a project management fee of around 2 percent with some preliminaries. 'They (Ms Gillard) mentioned 4 per cent; it's normally around 2 per cent,' Mr Martin added.
Page 1.
--Church groups have criticised the Australian Labor Party for deciding to suspend Sri Lankan asylum claims for three months and Afghan claims for six months. Australian Catholic Bishops Conference general secretary Brian Lucas yesterday said that asylum-seekers need to be handled both justly and humanely. 'A unilateral decision that defers even the consideration of a claim seems to have no other value than to provide some form of deterrent,' Mr Lucas added. Page 2.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--The hospitality company, Justin Hemmes' family-owned Merivale Group, has purchased the Beresford Hotel in Surry Hills for A$14.6 million. The previous owner, Ashod Nassibian, spent A$40 million to buy and renovate the hotel. The Beresford will compete for big-spending party people with The Winery, which is nearby and owned by rival Fraser Short's Keystone Hospitality company. Page 3.
--The latest Australian Property Monitors data shows that rental prices in Sydney and its surrounding suburbs have remained steady. The median weekly rent paid for a house in the central business district and eastern suburbs was A$750; the average rent paid in Canterbury-Bankstown was A$420 a week. A policy officer at the Tenants' Union of New South Wales, Chris Martin, yesterday said that unchanged rent prices showed that tenants were unable to pay higher prices. Page 3.
--Australia Post has asked the Australian Competition and Consumer Commission to approve a proposed A5 cent hike in standard letter stamp prices to A60 cents each. The government-owned postal service yesterday claimed that changes in behaviour caused by the global financial crisis had reduced the volume of letters delivered by more than was expected when an earlier request was rejected in December last year. Letter volumes are likely to dwindle by 5.8 percent in fiscal 2010.
Page 3.
THE AGE (www.theage.com.au)
--Victoria Police senior sergeant Andrew Miles yesterday told the Coroners Court that using Taser guns and alcohol-based capsicum spray could result in the ignition of offenders. Mr Miles made the remark in response to an inquest into a man who was unintentionally burnt to death after being sprayed with a capsicum aerosol. 'A water-based spray with a nitrogen propellant is a realistic option which would eliminate this risk,' Mr Miles said. Page 3.
--The Australian Survey of Social Attitudes, conducted between December 2009 and February 2010, shows 69 percent of respondents thought Australia did not need more people. The most opposed to population growth were Queenslanders (73 percent), followed by Victorians (70 percent), and then residents of New South Wales (69 percent), while the Australian Capital Territory had 50 percent in favour of growth. Swinburne University sociologist Katharine Betts yesterday said the data showed 'widespread opposition to the idea of a 'big Australia.' Page 5.
--An Australian Broadcasting Corporation (ABC) report exposing problems within the Thai royal family is believed to have breached Thai laws that prohibit criticism of the Asian nation's royalty. A reporter on ABC's Foreign Correspondent, Eric Campbell, could face 18 years in prison. However, ABC's Bangkok bureau was rumoured to have been evacuated prior to screening the report. 'Unfortunately I can never go back to Thailand,' Mr Campbell said. Page 7.
Keywords: DIGEST AUSTRALIA GENERAL (Sydney Newsroom +61-2 9373 1816; sydney.newsroom@allreleases.net) COPYRIGHT Copyright Thomson Reuters 2010. 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.