06/02/2020 - 07:01

Morning Headlines

06/02/2020 - 07:01

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Morning Headlines

Alita Resources under the nose of watchdog ASIC

Concerned shareholders have been assured an explosive administrator’s report into the collapse of lithium miner Alita Resources is in the hands of the corporate watchdog. The Fin

Tesla boosts lithium

A resurgent Tesla was among a swag of bullish narratives around electric vehicles that helped set alight the shares of WA’s listed lithium miners yesterday. The West

Mines, hotels to host evacuees

Isolated mining camps and hotels are being identified as temporary quarantine centres as the Morrison government prepares for the potential evacuation of thousands of Australians from coronavirus hotspots. The Aus

EV industry hopes UK ban inspires action

Australia should follow the lead of the United Kingdom and eventually ban petrol and diesel cars, to encourage the uptake of electric vehicles to help reduce the nation’s carbon emissions, according to the peak industry body. The Fin

First-time buyer race to secure deposits

More than 5500 Australians have signed up to Scott Morrison’s First Home Loan Deposit Scheme in one month, exceeding half of the government’s 10,000 annual cap to support home buyers. The Aus

Cheap money can get too risky

Reserve Bank of Australia governor Philip Lowe has warned the world is moving to a ‘‘crossover point’’, in which record low rates of borrowing might become ‘‘too much of a good thing’’, increasing concerns over asset price bubbles. The Fin

Centre Alliance backs off union-busting bill

The Centre Alliance is suspending its support for the government’s union busting Ensuring Integrity Bill until it sees changes being negotiated to accommodate Jacqui Lambie, and possibly until the government decides on the maintenance contract for the Collins Class submarines. The Fin

Bank concerns don’t apply to us: super funds

Australia’s peak superannuation body says it doesn’t need to be subject to the same strict standards being applied to the banks because the sector doesn’t have a history of misconduct and the changes will weigh on investor returns. The Fin

Alceon chasing collapsed accessories chain Colette

Mosaic Brands shareholder Alceon appears to be positioning itself to further capitalise on the distress in the retail market, with the private equity firm said to be eager to acquire collapsed accessories chain Colette. The Aus

Technical glitch drives shell workers potty

Workers on the production, storage and offloading vessel at the heart of Shell’s $US15 billion ($22 billion) Prelude LNG project, 475km off Broome, were forced onto cardboard potties after toilets were temporarily put out of action by an electrical trip on Sunday. The West

 

 

The Australian Financial Review

Page 1: Reserve Bank of Australia governor Philip Lowe has warned the world is moving to a ‘‘crossover point’’, in which record low rates of borrowing might become ‘‘too much of a good thing’’, increasing concerns over asset price bubbles.

Page 3: Major defence companies will be audited over their promises to offer Australian firms work following complaints from local industry they are being shut out of lucrative taxpayer-funded military projects.

Logistics company Toll Group will not pay a ransom to unlock its crippled systems and says it is gradually restoring operations to normal after identifying that cyber criminals came after it with a new form of malware.

Page 5: The Centre Alliance is suspending its support for the government’s union busting Ensuring Integrity Bill until it sees changes being negotiated to accommodate Jacqui Lambie, and possibly until the government decides on the maintenance contract for the Collins Class submarines.

Page 7: Australian governments, big business and regulators face a growing tide of legal challenges linked to climate change policy failures, warns former High Court chief justice Robert French.

Page 8: Australia should follow the lead of the United Kingdom and eventually ban petrol and diesel cars, to encourage the uptake of electric vehicles to help reduce the nation’s carbon emissions, according to the peak industry body.

Page 10: Australian ports will not welcome vessels from China unless they have been at sea for more than 14 days, while local marine pilots have been told to wear surgical masks to limit the spread of coronavirus.

Page 13: Australia’s peak superannuation body says it doesn’t need to be subject to the same strict standards being applied to the banks because the sector doesn’t have a history of misconduct and the changes will weigh on investor returns.

CIMIC, Australia’s biggest contractor, has told analysts that suppliers ‘‘support’’ its use of a controversial financing scheme known as reverse factoring despite other big companies abandoning it.

Page 15: Australia’s largest retailers are starting to develop contingency plans for sourcing stock from China in the event the coronavirus epidemic disrupts supplies.

The Disney and Disney Jnr channels will leave Foxtel at the end of February, as content continues to flow back to the US giant following the launch of its own streaming service in Australia.

Page 19: Concerned shareholders have been assured an explosive administrator’s report into the collapse of lithium miner Alita Resources is in the hands of the corporate watchdog.

 

 

The Australian

Page 1: Isolated mining camps and hotels are being identified as temporary quarantine centres as the Morrison government prepares for the potential evacuation of thousands of Australians from coronavirus hotspots.

Page 3: Seven Network programming boss Angus Ross has defended poor ratings for its rebooted My Kitchen Rules: The Rivals, saying it takes time for audiences to adapt to major change.

Page 4: More than 5500 Australians have signed up to Scott Morrison’s First Home Loan Deposit Scheme in one month, exceeding half of the government’s 10,000 annual cap to support home buyers.

Switching from coal to gas for power generation is the only realistic way to cut carbon dioxide emissions to tackle climate change in the short term, environmental economist Bjorn Lomborg has warned.

Page 6: The constitutional validity of a government crackdown on agents of foreign influence will be challenged in the High Court by a small not-for-profit group whose president was threatened with six months’ imprisonment under new national security laws.

Page 7: Scientific modelling has predicted the number of coronavirus cases confirmed in China — estimated to be far in excess of what has been publicly reported — will double every six days, with some experts predicting the virus will never be contained.

Page 17: Global outsourcing group Concentrix, which counts Westpac as a key local client, has been accused of serious breaches of data security and handling, which may have put thousands of bank customers’ information at risk.

Page 18: Mosaic Brands shareholder Alceon appears to be positioning itself to further capitalise on the distress in the retail market, with the private equity firm said to be eager to acquire collapsed accessories chain Colette.

Page 20: Melco Resorts, the casino empire owned by Macau gaming tycoon Lawrence Ho, has launched an 11th-hour legal challenge to the NSW gaming regulator, claiming the regulator is attempting to overstep its powers in its upcoming NSW casino inquiry.

The world’s biggest cobalt miner produced 10 per cent more of the metal last year thanks to increased output from one of its mines in the Democratic Republic of Congo.

 

 

The West Australian

Page 1: Indigenous Australians Minister Ken Wyatt is staring down a revolt over his timelines for a referendum on constitutional recognition and an Aboriginal voice to Parliament.

Page 7: Perth CBD has the highest office vacancy rate in the country, despite a slight improvement in the past year.

Page 8: China has appealed for calm as the coronavirus continues to spread, claiming the outbreak is nowhere near as deadly as previous epidemics or even the flu.

Eight out of 10 businesses in WA’s tourism sector are experiencing economic pain from the coronavirus crisis.

Page 16: WA tourism will get a boost when Singapore Airlines announces today that it will raise its capacity on flights between Europe, North Asia and Perth.

Page 18: Former British prime minister David Cameron’s bodyguard has sparked a security scare on a transatlantic jet by leaving his gun in the toilet.

Business: Rio Tinto has joined Telstra in paying small suppliers within 20 days as the mining giant desperately seeks to recover from the reputational damage it endured from a controversial bill discounting scheme.

Workers on the production, storage and offloading vessel at the heart of Shell’s $US15 billion ($22 billion) Prelude LNG project, 475km off Broome, were forced onto cardboard potties after toilets were temporarily put out of action by an electrical trip on Sunday.

A resurgent Tesla was among a swag of bullish narratives around electric vehicles that helped set alight the shares of WA’s listed lithium miners yesterday.

Australia’s new challenger banks say they’re signing hundreds of customers each day and taking millions in deposits from Australians disgusted with scandals from the country’s major banks.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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