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SYDNEY, July 3 Asia Pulse - Highlights of today's newspapers:
THE AUSTRALIAN FINANCIAL REVIEW:
- Treasurer Peter Costello outlines vision for new federal system under which the commonwealth would take full responsibility for national economy. James Packer defends his executives after a fortnight of turmoil at Publishing & Broadcasting Ltd.
- Westpoint investors set to launch class action against financial planning firms that suggested the group's high risk schemes.
- Rebound in pace of new job creation may test hopes for a pause in the Federal Reserve's two-year policy of higher interest rates.
- Fund managers confident that recent profit downgrading by the likes of Qantas and BlueScope Steel are not necessarily a warning sign for investors.
THE SYDNEY MORNING HERALD:
Source: HighBeam Research, AUSTRALIAN NEWSPAPER HIGHLIGHTS - JULY 3, 2006.