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 chief executive of Australia and New Zealand Banking
Group (ANZ.AX), Mike Smith, yesterday joined rival banks in
indicating that increased funding costs would push mortgage
rates higher in the short term. Financial markets think there
is just a 40 percent chance that the Reserve Bank of Australia
will raise rates from the current level of 4.5 percent when it
next meets on November 2. Page 1.
--Retail investors have largely shunned the A$6 billion
float of rail network QR National, with brokers saying many
appear wary of the forecast low dividend yield. The level of
retail participation in the float was unlikely to be as high as
other blue-chip floats, bankers advising QR National yesterday
indicated. Today is the deadline for investors to secure
guaranteed allocations of stock in the initial public
offering.
Page 1.
--In a move that has shocked the media industry, media
baron James Packer yesterday made a surprise raid on
free-to-air television broadcaster Ten Network (TEN.AX),
spending A$250 million on a 16 percent stake. The raid -
conducted by UBS for one of Mr Packer's private companies at
A$1.50 a share - sees Mr Packer overtaking WIN Corp's Bruce
Gordon as Ten's largest shareholder. Ten shares closed at
A$1.41 yesterday. Page 1.
--Resource giant Origin Energy (ORG.AX) yesterday announced
that it had halted exploration drilling at one of its
Queensland coal seam gas projects after cancer-causing
chemicals were detected during routine testing. Origin said
that cancer-causing agents known as BTEX were detected in
surface water at a mine near Miles, 300 kilometres west of
Brisbane. Page 1.
THE AUSTRALIAN (www.theaustralian.news.com.au)
--Prime Minister Julia Gillard yesterday vowed not to
abandon the people of war-torn Afghanistan, saying Australian
troops could remain there for at least a decade. In a historic
parliamentary debate on Australia's future in Afghanistan, Ms
Gillard pledged Australia's ongoing commitment, backed by
Opposition Leader Tony Abbott. Mr Abbott said withdrawal was
not an option, as it would make Australia look like a
"fair-weather friend" to its allies. Page 1.
--The Northern Territory's (NT) Child Protection Minister,
Kon Vatskalis, yesterday admitted that remote indigenous
communities were in a state of "total collapse" and that the
Federal Government's intervention needed to be re-examined. An
11-month inquiry into the NT's child protection system, which
delivered its report on Monday, detailed the systemic failures
of the NT's Department of Families and Children. Page 1.
--More taxpayer funds are being spent on consultants to
administer inspections of homes affected by the Federal
Government's failed home insulation scheme than on the safety
checks themselves, it has been revealed. Up to A$85 million is
slated to be spent on safety checks for the 50,330 homes fitted
with the batts, at the cost of A$1689 for each house.
Electrical contractors are reportedly being paid up to A$800
for each house inspected. Page 3.
--One of Australia's most senior performing arts
professionals will move on from her position at the Sydney
Opera House after a management restructure. Rachel Healy, the
Opera House's director of performing arts, was yesterday told
her position had been abolished. Ms Healy, who had spent four
years in the role, was instrumental in the Opera House's push
to produce and present its own shows rather than being a hall
for hire. Page 3.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--The New South Wales Government is expected to back an
independent report that recommends ethics classes be introduced
into public schools by next year. Education Minister Verity
Firth will today release the report, which details the results
of trials of the classes held in 10 schools over 10 weeks this
year. The report recommends that the Government adopt the
model used for ethics classes in the trial if it decides to
proceed. Page 1.
--Police believe that a champion jockey who was yesterday
found dead in his bed at his Brisbane home died from an
accidental drug overdose. Stathi Katsidis, who was due to ride
strong chance Shoot Out in the Cox Plate on Saturday,
reportedly died in his sleep. Police sources said his death
was not suspicious and was consistent with an overdose. Page
1.
--Senior judges in New South Wales (NSW) say that the
tradition of attorneys-general defending the court system from
attacks by media and politicians is breaking down. The
situation has deteriorated to the point that there may be a
need to appoint someone to become a public defender of judges,
Justice Peter McClellan, the Chief Judge at Common Law in the
NSW Supreme Court said yesterday. Page 1.
Watch Arts Online
verified these stories and does not vouch for their accuracy.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
--The chief executive of Australia and New Zealand Banking
Group (ANZ.AX), Mike Smith, yesterday joined rival banks in
indicating that increased funding costs would push mortgage
rates higher in the short term. Financial markets think there
is just a 40 percent chance that the Reserve Bank of Australia
will raise rates from the current level of 4.5 percent when it
next meets on November 2. Page 1.
--Retail investors have largely shunned the A$6 billion
float of rail network QR National, with brokers saying many
appear wary of the forecast low dividend yield. The level of
retail participation in the float was unlikely to be as high as
other blue-chip floats, bankers advising QR National yesterday
indicated. Today is the deadline for investors to secure
guaranteed allocations of stock in the initial public
offering.
Page 1.
--In a move that has shocked the media industry, media
baron James Packer yesterday made a surprise raid on
free-to-air television broadcaster Ten Network (TEN.AX),
spending A$250 million on a 16 percent stake. The raid -
conducted by UBS for one of Mr Packer's private companies at
A$1.50 a share - sees Mr Packer overtaking WIN Corp's Bruce
Gordon as Ten's largest shareholder. Ten shares closed at
A$1.41 yesterday. Page 1.
--Resource giant Origin Energy (ORG.AX) yesterday announced
that it had halted exploration drilling at one of its
Queensland coal seam gas projects after cancer-causing
chemicals were detected during routine testing. Origin said
that cancer-causing agents known as BTEX were detected in
surface water at a mine near Miles, 300 kilometres west of
Brisbane. Page 1.
THE AUSTRALIAN (www.theaustralian.news.com.au)
--Prime Minister Julia Gillard yesterday vowed not to
abandon the people of war-torn Afghanistan, saying Australian
troops could remain there for at least a decade. In a historic
parliamentary debate on Australia's future in Afghanistan, Ms
Gillard pledged Australia's ongoing commitment, backed by
Opposition Leader Tony Abbott. Mr Abbott said withdrawal was
not an option, as it would make Australia look like a
"fair-weather friend" to its allies. Page 1.
--The Northern Territory's (NT) Child Protection Minister,
Kon Vatskalis, yesterday admitted that remote indigenous
communities were in a state of "total collapse" and that the
Federal Government's intervention needed to be re-examined. An
11-month inquiry into the NT's child protection system, which
delivered its report on Monday, detailed the systemic failures
of the NT's Department of Families and Children. Page 1.
--More taxpayer funds are being spent on consultants to
administer inspections of homes affected by the Federal
Government's failed home insulation scheme than on the safety
checks themselves, it has been revealed. Up to A$85 million is
slated to be spent on safety checks for the 50,330 homes fitted
with the batts, at the cost of A$1689 for each house.
Electrical contractors are reportedly being paid up to A$800
for each house inspected. Page 3.
--One of Australia's most senior performing arts
professionals will move on from her position at the Sydney
Opera House after a management restructure. Rachel Healy, the
Opera House's director of performing arts, was yesterday told
her position had been abolished. Ms Healy, who had spent four
years in the role, was instrumental in the Opera House's push
to produce and present its own shows rather than being a hall
for hire. Page 3.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--The New South Wales Government is expected to back an
independent report that recommends ethics classes be introduced
into public schools by next year. Education Minister Verity
Firth will today release the report, which details the results
of trials of the classes held in 10 schools over 10 weeks this
year. The report recommends that the Government adopt the
model used for ethics classes in the trial if it decides to
proceed. Page 1.
--Police believe that a champion jockey who was yesterday
found dead in his bed at his Brisbane home died from an
accidental drug overdose. Stathi Katsidis, who was due to ride
strong chance Shoot Out in the Cox Plate on Saturday,
reportedly died in his sleep. Police sources said his death
was not suspicious and was consistent with an overdose. Page
1.
--Senior judges in New South Wales (NSW) say that the
tradition of attorneys-general defending the court system from
attacks by media and politicians is breaking down. The
situation has deteriorated to the point that there may be a
need to appoint someone to become a public defender of judges,
Justice Peter McClellan, the Chief Judge at Common Law in the
NSW Supreme Court said yesterday. Page 1.
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