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)
--Woodside Petroleum endured a significant setback this week after key talks on third-party gas supplies with global energy companies Exxon Mobil and Hess Corporation ended. The setback may hinder Woodside's expansion plans for its Pluto liquefied natural gas project in Western Australia and its Sunrise venture in East Timor. Page 13.
--Owners of Nine Entertainment Co, United States hedge funds Oaktree Capital Management and Apollo Global Management, are looking to list the media company on the Australian Stock Exchange by the end of 2013. It is understood that six investment banks have delivered pitches seeking a role in the float of the television, ticketing and digital company that could raise A${esc.dollar}3 billion. Page 13.
--Seven dairy farmers from Manning Valley, New South Wales have gained regulatory clearance from the Australian Competition and Consumer Commission to provide a new brand of milk to Woolworths. The approval will allow the supermarket giant and its agent Milk2Market to collectively bargain over the next three years with the farmers. Page 15.
--Fairfax Media has gained another high-profile investor on its register after Melbourne fund manager Alex Waislitz acquired a small stake in the media company. Mr Waislitz has since discussed Fairfax strategy with chief executive Greg Hywood. Page 15.
--HSBC Bank Australia told the markets that one bad loan and increasing litigation expenses were the main reasons behind a 24 percent decline in net profit to A${esc.dollar}134.5 million. The bank's exposure to industrial services provider Hastie Group, which owed A${esc.dollar}500 million when it collapsed, is thought to be largely responsible for the profit fall. Page 17.
THE AUSTRALIAN (www.theaustralian.news.com.au)
--Suppliers who do not reduce their prices will be dropped by supermarket giant Coles, said parent company Wesfarmers chief executive Richard Goyder. "Our role as a supermarket is to deliver better value to our customers, and we will be absolutely focused on doing that, so suppliers who are inefficient and have outdated technology may not have a future role supplying us," explained Mr Goyder. Page 17.
--Rio Tinto expects to cut as much as US${esc.dollar}5 billion out of the global miner over the next two years, said chief executive Sam Walsh. The company will focus relentlessly on productivity improvements and cost reductions across all areas of its business, Mr Walsh stated at the annual general meeting in London over night. Page 18.
--Following the recent departure of former chairman Stephen Johns and two non-executive directors, Leighton Holdings has proposed to lift the pay of its non-executive board to A${esc.dollar}4.5 million, an increase of A${esc.dollar}1 million. The proposal will be put shareholders at next month's annual general meeting. Page 19.
--Deloitte's Vaughan Neil Strawbridge, administrator of company Retail Adventures, revealed that the owner of the collapsed discount retailer had written to creditors quoting figures he regards as incorrect. The letter from Jan Cameron's new venture, Discount Superstore, claimed that the new company was owed more than A${esc.dollar}208 million from the collapse of Retail Adventures, while Mr Strawbridge's calculations showed debt of less than A${esc.dollar}180 million. Page 19.
--Rail can play a major role in tackling traffic congestion and alleviating the ongoing increases in road pricing and surcharges faced by exporters, said Maurice James managing director of Qube Logistics. The head of the logistic company believes rail could significantly reduce road traffic in both Sydney and Melbourne. Page 19.
--Stuart Grimshaw, chief executive of Bank of Queensland , expects the Reserve Bank of Australia to reduce interest rates just once more this year but the flow on effect will be minimal on the minds of borrowers' behaviour. Mr Grimshaw said the high level of inconsistent economic data push the banks towards a cautious outlook. Page 19.
--Peter Margin, board member of Nufarm and Bega Cheese, has called for Australia to specialise in agricultural sectors such as animal and dairy protein and grains to help country become globally competitive. Mr Margin sees robotics as one method by which Australia could reduce labour costs and create expertise that could be exported. Page 21.
THE SYDNEY MORNING HERALD (www.smh.com.au)
--Under the leadership of incoming chief executive Andrew Mackenzie, mining giant BHP Billiton will operate with a more prudent pay structure. The company reshuffled and redesigned its structure, with Mr Mackenzie leading by example by taking a pay cut of about 25 percent compared to outgoing head Marius Kloppers. Page 25.
--Bank of Queensland yesterday posted a 16 percent lift in profits due to an improved home loan book and a recovery in the property market. The bank increased its cash earnings to A${esc.dollar}119.9 million and raised the interim dividend to A28 cents a share from A26 cents. Page 27.
--Fortescue Metals Group yesterday delivered its quarterly production report with chief executive Nev Power emphasising the company will continue with its aggressive expansion plans. The miner reported a 3 percent increase in production and Mr Power is adamant that China will not slow down despite recent weak economic data. Page 27.
--Moody's Investors Service cautioned that the auction of spectrum by the Federal Government may put the credit ratings of Telstra and SingTel under pressure, as the telecommunication companies will spend billions of dollars for the use of the radio frequencies. The rating agency believes Telstra will outlay about A${esc.dollar}1.7 billion for its allocation of spectrum. Page 28.
--Foster's posted a 3 percent growth in sales volumes for the final quarter of the year, aided by VB that has regained the top spot as Australia's biggest-selling beer. Global brewer SABMiller, owner of Foster's, said the previously ailing VB brand had recorded sales growth for the last two quarters after the company lifted the alcohol content from 4.6 percent back to 4.9 percent. Page 28.
--Nick Greiner, chairman of mining service firm Bradken , and Brian Hodges, managing director, will appeal last month's the decision by the Victorian Federal Court ordering a payment of A${esc.dollar}21.6 million in damages to Swiss group Pala. Mr Greiner, former premier of New South Wales, and Mr Hodges were found to have had intimate knowledge of the negotiations prior to acquiring Pala's mining parts manufacturer asset, Norcast, for less than it was worth. Page 28.
THE AGE (www.theage.com.au)
--Coles posted its fastest quarterly sales growth since 2011, reporting third-quarter sales of A${esc.dollar}6.49 billion, an increase of 6.6 percent. The Wesfarmers-owned supermarket giant, is aspiring to create further earnings growth through store refurbishments and better supply arrangements. Page 23.
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