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)

-- North American brewer Molson Coors has positioned itself to acquire the A$11 billion-plus beer business of Australian alcoholic beverages group Foster's. Molson Coors has emerged as the buyer of a 5.3 percent stake in Foster's on September 25. There is speculation the Foster's board may decide to demerge the company's troubled A$4.6 billion wine operations when a strategic review concludes in mid-February.

Molson Coors chief executive Peter Swinburn was yesterday noncommittal about his company's next move. Page 55.

--Brian Gilbertson's Pallinghurst Resources and British-based partner Red Rock Resources are set to lift their shareholding in Jupiter Mines to 55.5 percent from 19.4 percent using a series of transactions. The move could result in Mr Gilbertson, a former chief executive of BHP Billiton, becoming chairman of Jupiter. Jupiter's board has approved the deal, which will now go to a shareholder vote next year after an independent expert's report is tabled. Jupiter shares rose A0.5 cents yesterday to close at A11.5 cents. Page 55.

--James Packer-backed online jobs advertiser Seek has forecast flat net profit and earnings in 2008-09. The prediction signals the end of a sustained eight-year rapid growth period for the company as employment ads moved to the Internet from newspapers. Seek's subdued outlook came in the wake of a forecast by broker ABN Amro that rising joblessness and a softer property market would cause the growth rate of the online classifieds sector to drop to 5.7 percent in 2008-09 from 20.7 percent a year earlier. Page 59.

--Travel service group Jetset Travelworld has downgraded its full-year earnings forecast by up to 30 percent, blaming the global economic downturn and the falling domestic currency. The company, which earlier this year merged with Qantas Holidays and Qantas Business Travel, yesterday flagged pre-tax net profit would fall short of the previous guidance of A$70.6 million by 20 percent to 30 percent. 'During October conditions and forward booking deteriorated significantly,' warned chief executive Peter Collins. Page 59.

THE AUSTRALIAN (www.theaustralian.news.com.au)

-- Ferrier Hodgson and McGrathNicol have moved in as administrator and receiver, respectively, of collapsed childcare provider ABC Learning Centres, in a reversal of the two corporate restructuring firms' roles at another prominent recently-failed company, Allco Finance Group. The administrators yesterday froze leave entitlements of 16,000 employees of ABC Learning and 330 staff of Allco. The four major domestic banks are today expected to reveal the full extent of their exposure to both failed companies. Page 19.

--Rupert Murdoch's News Corp yesterday posted a 9 percent fall in September quarter operating profit to US$953 million, blaming a weakening global media advertising sector.

News Corp's Australian operations, including the Australian, were also affected by the advertising slump. Mr Murdoch warned the coming year would be 'extremely challenging' for the media industry because of the global credit crisis, but News Corp remained well-positioned to 'weather the economic storm ahead.'

Page 19.

--PrimeAg has reported a maiden net profit after tax of A$1.9 million. During the 13 months since the agricultural company was established, A$147 million has been invested into 40,000 hectares of land and A$85 million in nearly 65,000 litres of water licences. At yesterday's annual general meeting, chairman Peter Corish said PrimeAg's A$300 million capital raising was fully subscribed. Additionally, Mr Corish said property purchases had been 'in the half of the country which ¿ will be less likely to experience prolonged dry periods.' Page 22.

--Shares in Mirvac rose 31.5 percent yesterday after the property group emerged from a five-day trading halt with A$500 million in new capital. On Wednesday, Mirvac completed its recapitalisation and won analysts' approval despite cutting earnings guidance for the current financial year to A$199 million from an earlier forecast of A$268 million to A$292 million.

Credit Suisse said investors were more comfortable with the new guidance as it was more sustainable. Citigroup and Merrill Lynch upgraded the stock to 'hold' and 'neutral,' respectively. Page 24.

THE SYDNEY MORNING HERALD (www.smh.com.au)

-- Investors in collapsed financial services group Allco Finance may recover little even after its assets are offloaded to settle A$1.02 billion of debt, receiver Ferrier Hodgson said yesterday.

Allco's aviation and shipping leasing operations and rail and financial investment assets are expected to be put up for disposal. Joint receiver Steve Sherman said there was no pressure from Allco's banking consortium for quick asset sales because the group was no longer bound by a December repayment deadline. Allco shares remain suspended indefinitely at A14 cents. Page 20.

--Project development and contracting group Leighton Holdings yesterday maintained its full-year profit growth forecast at 15 percent despite subdued economic conditions and a declining share price. 'I'm an optimist at heart and I know we will come through this slowdown¿stronger because we have such strong foundations,' chief executive Wal King told investors at yesterday's annual meeting in Sydney. Mr King's comments failed to halt a further A$1.35 drop in Leighton shares to A$27.30.

Page 21.

--Services company United Group has secured extensions to existing contracts and won new contracts worth A$400 million.

United yesterday reiterated its full-year profit growth prediction of between 10 percent and 20 percent. Managing director Richard Leupen said the company had sealed a new contract with BHP Billiton, while contracts with Rio Tinto-Alcan and New Zealand energy company Transpower had been extended.

Despite the upbeat announcement, United shares slipped A50 cents to A$10.70 in a falling market. Page 21.

--Peter Watson will step down as chief executive of Transfield Services after 25 years with the company in various capacities, the infrastructure and management services group said yesterday. 'We are enormously grateful for Peter's achievement in building Transfield Services into a strong and sustainable business,' said chairman Anthony Shepherd. Mr Watson, 52, had been at the company's helm for eight years. Transfield shares have fallen 71 percent over the past two years. Page 21.

THE AGE (www.theage.com.au)

-- Broker Goldman Sachs JBWere (GSJBW) said yesterday that Australian banks face up to A$7 billion in corporate losses over 2008-09 following the collapse of ABC Learning Centres and Allco Finance Group, with Centro Properties, City Pacific and Babcock & Brown also considered problem cases. 'All of the banks are likely to be impacted,' said GSJBW analyst James Freeman. Big Four lenders Commonwealth Bank of Australia, ANZ Bank, National Australia Bank and Westpac are understood to have exposure to ABC Learning and Allco. Page B1.

--Financial planner Russell Pillimer is struggling to keep afloat his troubled company, Centric Wealth, after private equity firm Champ withdrew from a planned A$100 million capital raising.

According to Centric's latest accounts, the firm has A$3 million in cash and A$160 million of debt, and faces a December-end deadline to repay A$15 million to Westpac. Mr Pillimer, a friend and business associate of Federal Opposition Leader Malcolm Turnbull, has now called for bids for Centric, to be submitted by this coming Monday. Page B1.

--Credit ratings firm Moody's has downgraded its outlook for casino operators in Asia and Australia for the next 12 to 18 months. 'The gaming sector in the Asia-Pacific is facing increasing operating pressures, which vary by company and country,' Moody's says in a report to be released today.

Moody's, which recently lowered its outlook for Australian casino group Crown Ltd to negative 'on concerns over the company's ability to achieve its financial targets,' flags tighter conditions for casinos in Macau and Malaysia. Page B2.

--Microsoft chief executive Steve Ballmer said yesterday he was perplexed by Google's practice of giving away its software, claiming it was a strategy unlikely to be appreciated by investors. Visiting Sydney for Telstra's annual shareholder briefing, Mr Ballmer played down Google's significance as a Microsoft rival after the search engine giant launched its first smartphone, the T1, featuring its new Android mobile operating system. Apple, Research in Motion, Symbian and Linux Mobile were bigger competitors, Mr Ballmer said. Page B3. --

Keywords: DIGEST AUSTRALIA BUSINESS (Sydney Newsroom +61-2 9373 1800; sydney.newsroom@reuters.com)

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