PRESS DIGEST-Australian General News - July 9
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)
Seven Network (SEV.AX), a listed investment vehicle 48.4 percent owned by Kerry Stokes, has purchased a 10.3 percent share in James Packer's Consolidated Media (CMJ.AX), lifting its overall stake in the group to 15 percent. It is believed the A$180 million buy-up is part of Mr Stokes' long-held ambition to increase his role in the pay TV industry and ensure his involvement in any changes in the ownership of Foxtel, which is part-owned by Consolidated Media. Page 1.
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Pressure is mounting for the Rudd government to allocate some of the permit revenue from its proposed emissions trading scheme to helping developing countries tackle climate change. However, Prime Minister Kevin Rudd says the Government will continue to direct all permit revenue to helping Australian businesses and households to adjust to a carbon price. Greens Leader Bob Brown has criticised the decision, saying the gap between what the rich nations are willing to offer and what developing nations demand continues to grow. Page 5.
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The Australian Council of Trade Unions (ACTU) yesterday vowed to push for a higher minimum pay rise next year after the decision by the Australian Fair Pay Commission to impose a pay freeze on 1.3 million workers reliant on the minimum wage. "In next year's wage case, we will be seeking a restoration of what has been lost," ACTU secretary Jeff Lawrence said. Workplace Relations Minster Julia Gillard gave tacit support to the ACTU's approach, saying past pay rises would be a factor considered by the wage-setting panel. Page 1.
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Treasurer Wayne Swan yesterday rejected calls for a government-owned "people's bank" that would challenge the market supremacy of the Big Four banks. The proposal, by a group of economists who argue that the global crisis has exposed flaws in Australia's financial system, suggests the state-owned bank be managed by the Future Fund. Opposition Leader Malcolm Turnbull also dismissed the idea, calling instead for an inquiry into the integrity of Australia's financial system. Page 5.
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THE AUSTRALIAN (www.theaustralian.news.com.au)
New figures reveal that almost half the water entitlements purchased by the Rudd government as part of the Murray-Darling buy-back program in 2008-09 will rarely flow into the main Murray system. The Lachlan, Gwydir and Macquarie catchments, purchased as part of the federal push to shore up water for the drought-stricken Murray system, all terminate in wetlands that don't flow into the river except in times of flood. New South Wales Irrigators' Council chief executive Andrew Gergson said the purchase of less reliable water sources reflected a lack of government strategy. Page 1.
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South Australian Attorney-General Michael Atkinson yesterday announced new laws defining the conditions for removal of judicial officers of the Supreme, District and Magistrates courts. The amendments, which state that improper conduct not directly linked to performing the duties of office should be added to the grounds for removal, come in the wake of revelations concerning a South-Australian magistrate. Richard Brown, a magistrate who had child-sex charges against him dropped in May, continued receiving his salary despite not sitting on the bench since his arrest in 2006. Page 2.
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Jesuit priest Frank Brennan says any attempt by Prime Minister Kevin Rudd to lobby Pope Benedict XVI for the canonisation of Mary McKillop would be seen as "crass and counterproductive". Mr Rudd will meet his Holiness in Rome this morning where they will discuss various issues including MacKillop, religious freedom and ethical and moral elements of the economic crisis. "I can't see how anyone would see it as a lobbying exercise," says Father Brennan. Page 2. Continued...
