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)
Competition watchdog the Australian Competition and Consumer Commission should closely examine the leasing agreements and new store developments of supermarket giants Coles and Woolworths as part of its investigation into market power in the industry, says Tristan Harris, co-chief executive Harris Farm Markets. Page 15.
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The A${esc.dollar}2 billion, 10-year private milk supply deal Murray Goulburn Co-op has signed with supermarket giant Coles could be a positive move for Victorian farmers. But farmers who produce the majority of Australia's milk were not part of the arrangement, says Craig Gavin, chief executive for Parmalat , warning the deal is potentially divisive. Page 17.
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The junior gold explorer Kalgoorlie Mining Company is thought to be close to a takeover by Norton Gold Fields , a company majority owned by China's Zijin Mining Group . The acquisition of other struggling miners in the is understood to be part of Norton's growth strategy. Page 17.
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The replacement of Australia and New Zealand Banking Group's outgoing international and institutional head Alex Thursby is underway, with chief executive Mike Smith and head-hunter Egon Zehnder having completed a candidate shortlist. Sources close to the recruiting process say the position may be filled externally. Page 18.
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Newcrest Mining, Australia's largest goldminer, believes it can cope with the declining price of gold despite suggestions it may have to revise production targets or close its Papua New Guinea mine should the precious metal's value continue to fall. The company says it is a low-cost producer. Page 17.
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Macquarie Group has acquired 20 percent of mortgage broker Homeloans Ltd in a deal estimated to be worth about A${esc.dollar}20.1 million. National Australia Bank owns 17 percent of Homelands and a power struggle between Macquarie and NAB over control of the mortgage broker may develop. Page 19.
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THE AUSTRALIAN (www.theaustralian.news.com.au)
Rio Tinto says the pit wall failure at its Bingham Canyon copper mine in the United States will significantly lower its copper division earnings, making the miner more reliant on Pilbara iron ore operations. Fear of a slowdown in China is also exerting pressure on value in the resources sector and Rio's shares have declined 5.2 percent over the last three days. Page 21.
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Workers at Rio Tinto's largest copper-producing mine in the United States have been asked to take leave following last week's landslide at Utah's Salt Lake Valley. Page 22.
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Newly appointed mining contractor Barminco chief executive Peter Stokes says the company made the correct decision when it fired and banned for life the workers participating in a performance of the dance craze "Harlem Shake", recorded underground at the Agnew goldmine in Western Australia. Stokes says there is "no grey in safety". Page 21.
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Beef producer Australian Agricultural Company says below average rainfall has reduced the value of its herds and lowered domestic cattle prices as north Australia experiences the worst climatic conditions since the 2007 drought. The government's temporary suspension of live exports to Indonesia also continues to impact the domestic cattle market. Page 22.
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Cricket Australia and the Ten Network have entered into a period of exclusivity as they negotiate over rights to broadcast the sport, locking other bidders, such as the Seven Network and Fox Sport, out of negotiations. Current rights holder the Nine Network remains in a prime position as it can exercise right of last refusal, allowing it to match any offers made by rivals. Page 23.
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Melbourne Airport has been given approval by the government to commence a major development plan including a new domestic terminal able to handle up to 10 million passengers a year and 17 new aircraft parking bays. The project will create about 1500 jobs and will be complete in 2015. Page 23.
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IMF, the Australian litigation funder, will file a Federal Court claim on behalf of 90 councils, churches and charities against ratings agency Standard & Poor's, claiming the agency provided bad advice relating to investments in high-risk collateralised debt obligations. IMF alleges its class-action members lost over A${esc.dollar}200 million after purchasing products that S&P rated very highly. Page 23.
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RM Williams chairman Ken Cowley says he has no intention of putting the rest of the clothing and boot maker up for sale following the sale this week of a 49.9 percent stake to a private equity fund bank funded by French luxury giant LVMH Group. The deal with L Capital Asia will allow the RM Williams brand to expand overseas operations with Singapore and Hong Kong the first new targets. Page 23.
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THE SYDNEY MORNING HERALD (www.smh.com.au)
Professor Ross Garnaut says the Reserve Bank of Australia (RBA) may need to curb the overvalued Australia dollar to minimise the length of a recession that may follow the mining boom he expects to end before long. The prominent academic and economic adviser says the RBA will need to bring interest rates down closer to other Western economies to deter the ongoing strength of the local currency, and if that fails, a cap should be considered. Page 25.
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Median superannuation funds may still report double-digit returns this financial year, despite last month's atypical decline, according to a survey by investment research firm Morningstar. Falls in the S&P/ASX300 and in Australian property securities triggered the fall in super fund returns, says Peter Gee, Morningstar's research products manager. Page 25.
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Tony Shepherd, president of the Business Council of Australia, says Australian leaders need to replace "short-term complacency" and long-term planning that is "somewhere between half-hearted and non-existent" with vision. Page 25.
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THE AGE (www.theage.com.au)
Billionaire mining magnate Gina Rinehart's court actions against journalists Adele Ferguson and Steve Pennells may be heard together, as Ferguson's lawyers raised the possibility of joining her shield law arguments with Pennells' case. Rinehart subpoenaed both journalists after they refused to reveal their sources while reporting on a feud between the magnate and her son John Hancock over a family trust. Page 24.
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