30/01/2020 - 06:55

Morning Headlines

30/01/2020 - 06:55

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Huawei's bid to end 5G ban

Chinese tech giant Huawei has claimed security agencies never discussed “boundaries” or “requirements” for the company to compete for 5G contracts in Australia, as it launches a new charm offensive to remove the blanket ban on its participation in the rollout. The Aus

Shell rapped over safety

Shell has been pulled up by the offshore safety regulator over “gaps” in safety management at its Prelude floating LNG project off WA after several potentially dangerous incidents. The West

Sandfire anxiously awaits news on US copper project

Sandfire Resources managing director Karl Simich hit out at delays in securing US approval as the company looks to make a call on what is regarded as one of the world’s highest grade undeveloped copper projects. The Fin

Oil exploration defies critics and takes off

A forecast 22 per cent jump in spending to hunt for new oil and gas discoveries has provided fresh evidence that exploration is emerging from the doldrums, despite increased campaigns by environmental and investor activist groups arguing that new fossil fuel fields need to stay in the ground. The Fin

PM demands more gas

Scott Morrison has demanded the eastern states lift their moratoriums on gas development, saying the fuel was vital for the transition away from coal-fired power towards clean energy sources. The Fin

Floats sinking fast

Weak investor appetite for new resources floats has been highlighted by a 75 per cent reduction in WA-based ASX listings in 2019 compared with the previous year. The West

Lockdown as staff pulled from China

The nation’s biggest companies have cancelled or cut back non-essential travel to and within China as miners, exporters and firms in the travel sector brace for the potentially devastating impact of the coronavirus outbreak. The Aus

Webjet rejects Google threat

Webjet has hit back at claims that it will struggle to compete with Google’s Flights business, after an analyst report sent the online travel booking company share price down 14 per cent on Tuesday. The Aus

Childcare hikes highest in WA

Perth parents are struggling with some of the highest childcare price hikes in the country. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison has demanded the eastern states lift their moratoriums on gas development, saying the fuel was vital for the transition away from coal-fired power towards clean energy sources.

Page 4: Queensland will get its biggest battery system to help back up its rapid growth in solar and wind power thanks to a 15-year deal involving retailing giant AGL Energy.

Page 7: The UK’s decision to allow Huawei to participate in the rollout of its 5G network is unlikely to affect Australia’s willingness to share intelligence with British spies, despite Boris Johnson splitting from Five Eyes allies.

Page 10: Indonesian Foreign Minister Retno Marsudi says her country’s free trade deal with Australia would send a strong message on the value of cooperation in an increasingly protectionist world.

Page 13: Treasury Wine Estates chief executive Mike Clarke will undertake an internal separation of its lower-priced commercial wine business from the luxury wine brands such as Penfolds to try to prevent a repeat of a sharp slide in margins in the United States stemming from a glut of cheap wine.

Page 15: Six months after Coles managing director Steven Cain unveiled a plan to restore profit growth by 2021, suppliers say the strategy hasn’t gained traction and the retailer is losing ground to Woolworths.

Page 16: Rio Tinto scrapped its controversial reverse factoring program to speed up payments to small suppliers, in a quick response to rising pressure from media and small businesses.

Page 18: Northern Star Resources boss Bill Beament says the company’s close alignment with Super Pit co-owner Saracen Mineral Holdings has the potential to add even more value to the iconic gold mining operation.

OZ Minerals managing director Andrew Cole says its Carrapateena mine will be more valuable for shareholders following changes that will increase copper and gold output but almost double the capital spending required over the next five years.

Sandfire Resources managing director Karl Simich hit out at delays in securing US approval as the company looks to make a call on what is regarded as one of the world’s highest grade undeveloped copper projects.

The number of small cap initial public offerings on the Australian Securities Exchange plummeted in 2019 and the pipeline remains soft, meaning high-growth businesses may remain private for longer, according to a new report.

Page 19: A forecast 22 per cent jump in spending to hunt for new oil and gas discoveries has provided fresh evidence that exploration is emerging from the doldrums, despite increased campaigns by environmental and investor activist groups arguing that new fossil fuel fields need to stay in the ground.

Oil and gas company Beach Energy’s stock closed 1.9 per cent lower yesterday as it reported its December-quarter production fell 2 per cent to 6.41 million barrels of crude oil equivalent (boe) on the previous three months and dropped 13 per cent from the year earlier period.

 

 

The Australian

Page 1: Chinese tech giant Huawei has claimed security agencies never discussed “boundaries” or “requirements” for the company to compete for 5G contracts in Australia, as it launches a new charm offensive to remove the blanket ban on its participation in the rollout.

Page 4: Australians will vote on constitutional recognition of indigenous Australians by June next year at the latest, according to a timeline developed by Indigenous Australians Minister Ken Wyatt.

Defence has acknowledged that a logistics system in the 72 Joint Strike Fighters being purchased by Australia for $17bn could create a “risk of cyber intrusion and data loss”.

Page 5: A Sport Australia insider has revealed concerns about Nationals deputy leader Bridget McKenzie’s involvement in a controversial $100m grants program were raised “consistently” from the scheme’s inception.

Page 17: The nation’s biggest companies have cancelled or cut back non-essential travel to and within China as miners, exporters and firms in the travel sector brace for the potentially devastating impact of the coronavirus outbreak.

Square Peg Capital, the venture capital firm backed by a host of the nation’s richest people, is embarking on the biggest capital raising in its history to back technology companies in Australia, Israel and Asia.

Page 19: Webjet has hit back at claims that it will struggle to compete with Google’s Flights business, after an analyst report sent the online travel booking company share price down 14 per cent on Tuesday.

 

 

The West Australian

Page 1: Perth parents are struggling with some of the highest childcare price hikes in the country.

Page 4: Australians evacuated from the epicentre of the coronavirus outbreak in China will be quarantined for at least two weeks off the north-west coast of Western Australia on Christmas Island as early as tomorrow.

Page 5: In a world-confronting decision, British Airways has suspended all direct flights to mainland China as the number of people killed by the deadly coronavirus climbs to 132.

Page 14: Bruce Pascoe has withdrawn from the Perth Festival a day after Ken Wyatt announced he was sacking a member of his indigenous advisory committee for accusing the author of faking his Aboriginal ancestry.

Page 18: US President Donald Trump has proposed creating a Palestinian state as part of a Middle East peace solution, drawing Palestinian condemnation for imposing strict conditions and for agreeing to let Israel maintain control of long-contested West Bank settlements.

Business: Shell has been pulled up by the offshore safety regulator over “gaps” in safety management at its Prelude floating LNG project off WA after several potentially dangerous incidents.

A Perth-based biotech firm has emerged as an early beneficiary of the deadly coronavirus, announcing a strong spike in demand in Malaysia for its powerful disinfectant spray.

Weak investor appetite for new resources floats has been highlighted by a 75 per cent reduction in WA-based ASX listings in 2019 compared with the previous year.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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