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)
Hanlong Mining could see its stake in two Australian mining companies go to its Chinese lenders, as the company sits on a combined A${esc.dollar}274 million loss on its investment in Sundance Resources and Moly Mines. Hanlong owns 17 percent of Sundance and 57 percent of Moly. Page 17.
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Gerard Minack, global strategist at Morgan Stanley has decided to leave the institutional broking industry after 25 years in the finance industry. Minack commenced his career at Syntec Economics in 1987, a day before Black Tuesday. Page 15.
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Hong Kong-listed Chevalier Group has acquired 70 percent of Moraitis Group, one of Australia's largest fruit and vegetable wholesalers. The deal is worth around A${esc.dollar}270 million, Moraitis is a major supplier to supermarket giants Coles and Woolworths. Page 17.
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Dene Rogers, managing director at department store Target, has resigned to pursue other interests. His replacement in the retail chain will be Stuart Machin, a key executive within parent company Wesfarmers. Page 18. Coles director of merchandise John Durkan is front runner to head Coles. Page 18.
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Suncorp Group chief executive Mark Milliner argues the major hurdles for the insurance industry will come from tightening global regulation and improving customer access to insurance data. Page 19.
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Australian insurers are following international counterparts by investing in riskier asset classes to lift returns. According to Robert Goodman, global head of insurance relations at Goldman Sachs Asset Management, local insurers are looking to property, bank loans and emerging market debt as declining term deposits and low bond yield rate hurt returns. Page 19.
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After 12 years at Perpetual Group, Richard Brandweiner has left his position of group executive to join First State Super as head of the funds' A${esc.dollar}32 billion investment portfolio. Page 18.
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THE AUSTRALIAN (www.theaustralian.news.com.au)
Surfwear retailer Billabong International received a A${esc.dollar}287 million non-binding takeover offer from its former chief executive Paul Naude and United States consortium Sycamore Partners. The offer must meet accountancy advice on Billabong's earning before it can move forward. Page 19.
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Reserve Bank of Australia (RBA) board member John Edwards says Australia's economy is coping better than expected despite the high value of the Australia dollar. The need for further interest rate cuts will be curbed for the meantime as the RBA monitors the impact of the elevated currency on the economy. Page 19.
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Treasurer Wayne Swan will today announce the end of government support for the A${esc.dollar}45 billion mortgage-backed securities market. Since 2008, the Australian Office of Financial Management has invested A${esc.dollar}15.5 billion into the market. Swan says the private sector now has sufficient support. Page 19.
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According to a new study from the Australian Bureau of Statistics, international tourism arrivals are increasing at the same rate as Australians departing overseas. The study found international arrivals and departing Australians both grew by 4.9 percent in the 12 months to February. Page 20.
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As part of the continued corporate restructure plans of Fairfax Media, chief operating officer of Metro Media, David Hoath will become redundant. Page 20.
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Jewellery chain Michael Hill International delivered an 8.8 percent sales increase for the nine months to March 31, buoyed by growth in Australia and New Zealand. Sales increased to A${esc.dollar}348.83 million over the same period, with the share price lifting 26 percent in 12 months. Page 21.
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Opposition leader Tony Abbott says he will not "go to war" with telecommunications company Telstra should he win government and multi-billion dollar contracts for the National Broadband Network (NBN) need to be renegotiated. Page 21.
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Atlas Iron chief executive Ken Brinsden may consider a permanent office in Beijing as the miner looks to build relationships with its key customers and government authorities in China. Brinsden says it could be viable to have a local representative. Page 25.
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THE SYDNEY MORNING HERALD (www.smh.com.au)
Ten Network will continue its cost-cutting programming strategy and aim to capture a slightly older audience to turn around the fortunes of Australia's number three commercial television network. Page 25.
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Property developer Lend Lease has begun work on Barangaroo's harbourside apartment towers in Sydney, as authorized agent CBRE began dealing with sale inquiries for off-the-plan apartments on Tuesday. CBRE said the demand is high from local and overseas investors. Page 29.
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THE AGE (www.theage.com.au)
Australian and New Zealand Banking Group has pledged to lend A${esc.dollar}1 billion to new businesses over the next 12 months, with small businesses hailing the move. Newly approved loans of less than A${esc.dollar}100,000 dropped in the December quarter, according to Reserve Bank of Australia figures. Page 22.
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Research conducted by global real estate service provider Savills shows overseas investors are increasing their exposure to Australian retail and office assets via unlisted wholesale funds. The research shows foreign investors spent A${esc.dollar}1.7 billion on direct retail investments in the past two years. Page 26.
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(Sydney Newsroom +61-2 9373 1816; sydney.newsroom@allreleases.net))
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