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AUSTRALIAN NEWSPAPER HIGHLIGHTS - JULY 3, 2006.

AsiaPulse News

| July 03, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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:

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Source: HighBeam Research, AUSTRALIAN NEWSPAPER HIGHLIGHTS - JULY 3, 2006.

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