THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

Diversified television broadcaster Ten Network has officially placed its Eye Corp outdoor advertising division up for sale, with the company's domestic rivals, APN News and Media and oOh!media reportedly interested. Investment bank UBS, adviser to Ten on the sale of Eye Corp, will also gauge whether foreign companies Clear Channel and JC Decaux would be interested in the advertising business. Page 15.

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George Frazis, the chief executive-elect of lender St George Bank, has said in an interview that he would prefer people concentrate on his record in business as opposed to the reputation he received as the highest paid executive in New Zealand, where he was the head of Westpac Banking Corporation's New Zealand business. "You're in the spotlight in New Zealand  I enjoyed my stay in New Zealand and absolutely loved it," Mr Frazis said. Page 15.

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Kate McKenzie, head of marketing at Telstra, said the telecommunications giant was not restricting the growth of pay television (TV) with its bundling of broadband, fixed-line telephones with its T-Box internet TV streaming product. "What we are trying to do is move away from individual product components to more of a value proposition to customers," Ms McKenzie said. Page 17.

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The Federal Government has been slated by independent federal MP Rob Oakeshott for adding a one-year reprieve into its Future of Financial Advice reforms before the legislation's introduction into Parliament. "The frustration is that there seems to have been a conversation going on between the government and various industry groups, rather than a conversation among MPs," Mr Oakeshott said. Page 17

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

The head of the Australian Securities and Investments Commission, Greg Medcraft, has publicly espoused a change to disclosure legislation that would prioritise economic interest over legal ownership. The adjustment is designed to close a loophole in the regulations used by James Packer's Crown Ltd to acquire a 10 percent stake in rival casino group Echo Entertainment, only to fully announce the details of the transactions a fortnight later. Page 19.

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Lobbyists are pushing the Federal Government to abandon a crucial savings mechanism in superannuation in an effort to return the federal budget to surplus. Labor is planning to freeze the indexation of the superannuation concessional contributions cap in 2013, but critics claim that the move could stop employees from growing their superannuation with voluntary contributions. The decision to stop indexation of the concessional contributions limit is estimated to save almost A$485 million over the next four years. Page 19.

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Michael Ullmer, former deputy chief executive of National Australia Bank (NAB), has questioned whether Australian lenders' poor reputation in the community "really matters" within the industry. "There could well be other CEOs who say: 'Well, our market shares have done nothing but increase, so does all this stuff really matter?" Mr Ullmer, who left NAB last August, said. Page 19.

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United States oil producer Hess has announced that it is considering all its options for its Western Australian Equus gas field, although speculation is mounting that the company is on the verge of striking an agreement to supply local peer Woodside Petroleum's Pluto liquefied natural gas venture. The company is also in talks with global oil producer Chevron and will decide later this year on a client for its gas. Page 20.

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

The Australian Securities and Investments Commission has determined that contractor Leighton failed to inform investors in a timely manner of a A$907 million reduction to profits. The company had previously announced to the market that it expected to post a A$427 million full-year profit, but then announced a A$480 million full-year loss a month later. Greg Medcraft, chairman of the corporate regulator, called for an increase in penalties for violations of continuous disclosure rules. Leighton was fined A$300,000 over the incident. Page B1.

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Fragrance chain Perfume Connection's survival as a business has been thrown into question after it was revealed that the company has posted nearly A$20 million in losses since 2008. The chain has downsized to just over 50 outlets, despite once having intentions to expand to more than 120 stores locally. According to accounts filed with the corporate regulator, Perfume Connection posted a A$9.53 million loss last financial year, with a A$3.47 million loss in 2009-10. Page B1.

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General insurer CGU has been criticised by Queensland's inquiry into the state's devastating floods, with the commission questioning the methods used by the company to reject insurance claims. The commission raised serious concerns about CGU's decision to have staffers question claimants over the phone rather than relying on a site visit. Customers filed more than 58,000 claims relating to last year's disaster, resulting in insured losses of A$2.4 billion. Page B3.

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The future of unconventional gas resources in Western Australia could be set to boom after a decision by the West Australian Environment Minister Bill Marmion to permit small-scale hydraulic fracturing in the Perth Basin without the need for environmental assessments. Norman Moore, state Minister for Mines, said it was too soon to determine what impact on exports the unconventional gas industry could have. Page B3.

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THE AGE (www.theage.com.au)

Telstra will today launch a series of national television advertisements spruiking new in-home services. Kate McKenzie, group managing director of marketing, products and innovation at the telecommunications giant, yesterday said the products would be additions to broadband packages published a fortnight ago, and would form the "cornerstone" of Telstra's new marketing push. She added that only a few services would be launched in the beginning, including cloud-based gaming and storage, with more introduced later on in the year. Page B3.

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The S&P/ASX 200 Index is expected to climb from the start of today's trade following comments from Christine Lagarde, managing director of the International Monetary Fund, that the United States and European financial markets had indications of stabilisation. "For our market, the oil price was up significantly, so that's going to be good news for the energy stocks," Craig James, chief economist at broker CommSec, said. The futures market has forecast a gain of approximately 30 points. Page B3.

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Ruslan Kogan, the founder of the self-named online consumer electronics retailer, has revealed in an interview that his mother strongly disapproved of his decision to quit a job at prestigious consulting group Accenture to start his own business. Kogan Technologies last year recorded A$22 million in turnover, a figure expected to grow to A$150 million this financial year. "There is no better marketing tool than the world's best price  people don't want to pay more for something," Mr Kogan said. Page B4.

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Jones Lang LaSalle yesterday said that the vacancy rate in Victoria's fringe office market had dropped to 7.8 percent and was expected to stay below the long-term average until 2013. "Incentives will tighten further in areas with quality stock and low vacancy, while higher incentives will be offered in secondary stock along St Kilda Road," Andrew Ballantyne, director of research at the real estate group, said. Page B8.

• A Permanent Economic Emergency