PRESS DIGEST: Australian General News: Jan 17
07:44, Wednesday, 17 January 2007
(Compiled for Reuters by Media Monitors)
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
Telecommunications company, Telstra, has used
freedom of information laws to obtain documents it says prove
that recent industry regulation is unconstitutional. The
Australian Competition and Consumer Commission recently added
clauses to the Trade Practices Act requiring Telstra to gain ACCC
approval for the prices it charges rivals to use its
infrastructure. Telstra general counsel, Will Irving, said the
company had had rights removed that other companies enjoyed,
foreshadowing a High Court of Australia challenge to have the act
amended. Page 1.
--
Shares in fund management company, Platinum Asset Management,
jumped by 54 per cent yesterday, backed by a 2006 net profit
result of A$187.6 million. The news comes after a year of
relatively modest growth, with a below-market return of 6.5 per
cent. Managing director, Kerr Neilson, will share A$160 million
in dividends with approximately 15 other shareholders in the
A$9.5 billion fund. Meanwhile, Platinum portfolio manager, Jim
Simpson, has denied speculation that the company could be sold to
investment firm, Perpetual. Page 1.
--
The federal government will retain a series of assistance
programs as part of a new industry policy to be unveiled within
weeks. Industry Minister, Ian Macfarlane, said the automotive
and textile, clothing, and footwear sectors will be supported
until 2015 to help them adjust to a reduction in tariff
protection to five per cent, but ruled out plans to extend such
support to other sectors. Mr Macfarlane said that one of the key
goals of the policy would be to increase the export focus of
business by improving Australia's attractiveness to foreign
investors. Page 1.
--
Investment firm, Macquarie Bank, will review its
role in the management buy-out proposal of energy infrastructure
group, Alinta. Alinta's board yesterday effectively
sacked Macquarie because of concerns over a conflict of interest.
Macquarie is the adviser to, and potential equity participant in,
the proposed deal. According to Goldman Sachs JBWere analyst,
Andrew Lyons, the situation is negative for Macquarie because it
is the first time that its principal investment activities have
publicly resulted in the loss of advisory work. Page 1.
--
THE AUSTRALIAN (www.theaustralian.news.com.au)
A total of 300 workers will lose their jobs because of a move
offshore by Australian work boot manufacturer, Blundstone. Chief
executive, Steve Gunn, said the company would move its Tasmanian
operations to Thailand and India because of a rise in local
labour costs. Blundstone employees and the Textile, Clothing,
and Footwear Union attacked the company's late notice of the
move. The prospect of people finding jobs again in Hobart is not
good unless retraining programs are put in place, a union
representative said last night. Page 1.
--
The federal Australian Labor Party's pledge to help parents
re-enter the workforce has been questioned. Under the new
policy, parents would have the right to request up to two years
leave after the birth of a child, and then ask for part-time
hours on their return to the workplace. Australian Workplace
Agreements would be scrapped, the role of unions restored, and a
no disadvantage test be reinstated when workers sign individual
contracts. Business groups yesterday warned the plans could make
employers think twice before hiring women of child-bearing age.
Page 1.
--
Acting Prime Minister and Nationals leader, Mark Vaile, has
claimed his party will gain an extra seat at this year's federal
election. While he would promote the role of the Nationals as
part of the Coalition, he would also be pushing the point that
his party is different to the Liberals. Mr Vaile also stressed
the continued need for a rural-focused party, saying "our
absolute focus on the needs of regional Australia is just as
strong today as it has ever been". The Nationals hold 12 House of
Representatives seats and four Senate seats. Page 2.
--
Australia's scientific knowledge base would take 20 years to
replenish, according to the Commonwealth Scientific and
Industrial Research Organisation (CSIRO). A recent World
Economic Forum study ranked Australia 29th out of 125 countries
for the quality of its maths and science education. CSIRO chief
of mathematical and information sciences, Murray Cameron, said
Australia had not generated enough of the next generation of
scientists and mathematicians. Page 2.
--
THE SYDNEY MORNING HERALD (www.smh.com.au)
Former federal opposition leader, Kim Beazley, has continued
his attack on the industrial relations reforms of Prime Minister,
John Howard. Beazley warned that the union movement would be
"wiped out" within a decade if this year's federal election
resulted in a continuation of Liberal Party dominance. However,
he predicted that a win to new Opposition Leader, Kevin Rudd,
would result in "serious question marks about the future of the
Liberal Party", especially because of the current "poor shape" of
the party in the states. Page 1.
--
Nine Network chief executive, Eddie McGuire, will return to
the screen as host of a new game show. The news has ignited
speculation that McGuire will step down from the day-to-day
management of the television network, which experienced a tough
2006 marred by falling ratings. Nine part-owners, Publishing &
Broadcasting Ltd, said the move may prompt the
appointment of a director of television to oversee the network's
operations as well as another round of cost-cutting. McGuire will
be announced as the host of 1 vs 100 tomorrow. Page 1.
--
A class action against supermarket chains, Colesand
Woolworths, may result if the Australian Competition and
Consumer Commission fails to rein in petrol prices. Fuel
companies this week refused an ACCC request to lower prices as
the price of oil continues to hover around US$52 a barrel. Sydney
lawyer, George Newhouse, said yesterday that mass action would be
the only way forward if the ACCC failed to act on claims that the
retail chains were distorting petrol prices with their discount
schemes and pocketing the gains. Page 3.
--
Australian talent missed out yesterday at the presentation of
the Golden Globe Awards in Hollywood. Cate Blanchett, Toni
Collette, and George Miller all failed to convert nominations
into trophies; however, Blanchett was partly compensated by the
success of Babel, a film she starred in and which won the award
for best dramatic movie. Miller's Happy Feet missed out on the
award for best animated film, as did Collette in the best actor
category for Little Miss Sunshine. Dreamgirls won for best film,
musical or comedy. Page 3.
--
THE AGE (www.theage.com.au)
An emergency meeting of Victoria's state cabinet last night
considered the imposition of mandatory power restrictions after a
bushfire in the state's northeast blacked out a wide area.
Refrigerative and evaporative cooling systems, including air
conditioners, would be considered under the restrictions,
according to a spokesman for Acting Premier, John Thwaites. Areas
of Melbourne, Geelong, Ballarat and Bendigo were without power
for several hours as the state sweltered in temperatures over 40
degrees Celsius. Page 1.
--
Monday's brawl between Serbian and Croation supporters at the
Australian Open tennis tournament has attracted worldwide media
attention. Netherlands Press Association reporter, Rene
Groeneveld, said he was surprised by the attention his story on
the brawl received. "There is a lot of interest in
multiculturalism and race conflict because we have had many
similar problems in Holland," Groeneveld said. A reporter in the
United Kingdom blamed soccer for creating "a boisterous rivalry
between some of Melbourne?s ethnic groups". Page 2.
--
The fall in the price of jet fuel has forced Qantas Airwaysto reduce its fuel levy by A$5. Domestic airline,
Regional Express, will follow suit but Virgin Blueand
Jetstar's domestic fuel levy of A$19 will remain unchanged.
Meanwhile, the Australian Competition and Consumer Commission has
been criticised for requesting that oil companies lower their
pump prices in response to falling world oil costs. More time
was needed to allow price drops to flow onto the market,
according to Royal Automobile Club of Victoria spokesman, David
Cumming. Page 3.
--
Victoria's farmers will be given more of the state's
dwindling water supply in a move that has angered environmental
groups. The state government plan allows for an extra 93
gigalitres of water to be made available to growers in the
Goulburn Valley region. Environment Victoria said the decision
was poorly directed, given that farmers already use more than 70
per cent of the state's water supplies. Page 5.
--
Looking for more information from local sources? Factiva.com
has 112 Australian sources including The Australian, Sydney
Morning Herald and The Age.
((Reuters Sydney Newsroom, 61-2 9373 1800,
[email protected]))
Keywords: DIGEST AUSTRALIA GENERAL
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