20/02/2020 - 07:01

Morning Headlines

20/02/2020 - 07:01

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Morning Headlines

Lithium still a good bet despite dip

Wesfarmers managing director Rob Scott says he remains very comfortable with the company’s investment in a stalled lithium project as low prices play havoc with the balance sheets of current producers. The Fin

Travel deals get students around ban

Chinese travel agents are marketing bespoke “14-day, 13-night” packages to third-country transit destinations to help Chinese students enrolled at Australian universities get around the federal government’s coronavirus ban for as little as $2700 each. The Aus

Perenti hopes to sell before it buys; BTP on the block

Diversified mining services business Perenti is seeking to shed one of its subsidiaries as it reaches the pointy end of an auction for Downer EDI’s mining services arm. The Fin

Stokes open to media mergers

Billionaire Kerry Stokes’ Seven Group will consider providing money to Seven West Media for any future deals, arguing the media company needs to consider consolidation to strengthen its market position. The Aus

Jetstar won’t rule out grounding fleet amid stoush

Jetstar chief executive Gareth Evans has not ruled out grounding the budget airline’s fleet to resolve an acrimonious industrial dispute with its workers, which forced it to cancel 48 domestic flights yesterday. The Fin

Push for new regulator

Former Australian Securities and Investments Commission deputy chairman Jeremy Cooper said the agency had a breadth of roles rarely matched globally and called for its managed funds responsibilities to be put under a new superannuation regulator. The West

Public trust dives after bushfires

Public trust in government, business, charities and the media has collapsed in the wake of the national bushfire crisis with no institution seen as both competent and ethical. The Fin

Funding our retirement is biggest worry

Not having enough money to fund retirement remains the top cause of financial anxiety for Australians, but the concern greatly diminishes once people retire, National Australia Bank’s latest wellbeing survey shows. The Fin

Freo set to debate name shift

A redeveloped Kings Square in Fremantle could be renamed after the father of Yagan, the Noongar warrior who fought against British colonisation. The West

Crunch time for waste industry

An infrastructure crunch is coming for WA’s waste industry which could lead to “significant adversities” and hikes for ratepayers if it is not acted on before impending national rubbish export bans. The West

 

 

The Australian Financial Review

Page 1: The coronavirus fallout continues to damage profits at a string of ASX-listed companies that rely on Chinese tourists, a healthy travel industry and have large operations in Asia, but strength in other sectors has pushed the Australian sharemarket to a record high.

Page 3: Public trust in government, business, charities and the media has collapsed in the wake of the national bushfire crisis with no institution seen as both competent and ethical.

Page 5: Not having enough money to fund retirement remains the top cause of financial anxiety for Australians, but the concern greatly diminishes once people retire, National Australia Bank’s latest wellbeing survey shows.

Page 8: Jetstar chief executive Gareth Evans has not ruled out grounding the budget airline’s fleet to resolve an acrimonious industrial dispute with its workers, which forced it to cancel 48 domestic flights yesterday.

Page 13: Wesfarmers is exploring alternative sources of stock in the event the coronavirus disrupts shipments of clothing, homewares, hardware and office supplies from China.

Page 14: Diversified mining services business Perenti is seeking to shed one of its subsidiaries as it reaches the pointy end of an auction for Downer EDI’s mining services arm.

Page 15: The Domino’s decision to bring back $5 pizzas – which are popular with customers but barely profitable for franchisees – sent same-store sales in Australia surging more than 10 per cent in the last few weeks.

Page 16: The ‘‘mess’’ of the liquefied natural gas market, with ‘‘force majeure’’ declarations, rejected and redirected cargoes and pricing disputes amid a glut of supply, is much worse than expected, but offers hope for a sharp rebound, according to respected consultant Fereidun Fesharaki.

Page 17: Seven Group Holdings chief executive Ryan Stokes has urged the Morrison government to maintain regulatory certainty in the oil and gas industry if it wants to see more east coast gas supply and investment.

Page 18: Logistics software company WiseTech Global suffered the consequences of its first major miss yesterday, with its shares plummeting 27 per cent thanks to a ‘‘once in a generation’’ hit from the coronavirus.

Page 19: The plethora of financial sector regulators needs to be better co-ordinated to ensure new technology companies aren’t stifled by conflicting rules, a Senate committee has been told.

Page 20: Explosives company Orica will buy a controlling stake in the Peruvian-based explosives manufacturer Exsa to acquire the company’s factories and customers, and boost access to copper and gold miners as it scales down its exposure to thermal coal.

Wesfarmers managing director Rob Scott says he remains very comfortable with the company’s investment in a stalled lithium project as low prices play havoc with the balance sheets of current producers.

 

 

The Australian

Page 1: Chinese travel agents are marketing bespoke “14-day, 13-night” packages to third-country transit destinations to help Chinese students enrolled at Australian universities get around the federal government’s coronavirus ban for as little as $2700 each.

Page 4: Australian tech billionaire Mike Cannon-Brookes is pouring millions of dollars into a renewable energy initiative that aims to provide power to 100 bushfire communities in 100 days.

Page 17: Billionaire Kerry StokesSeven Group will consider providing money to Seven West Media for any future deals, arguing the media company needs to consider consolidation to strengthen its market position.

Page 18: The battle for the $1.9bn National Storage REIT may now be a three-horse race, but there were supposedly four parties in the mix in recent times, with Blackstone weighing a bid for the company.

Page 21: Digital bank Xinja is now targeting $1bn in deposits by year’s end, after record low interest rates caused a rush of $200m in funds to the start-up in less than a month.

Page 22: Analysts have given a cautious welcome to Mike Henry’s first set of financial results since taking on BHP’s top job, praising his focus on operational focus but sounding a warning on some of the company’s ageing assets.

Page 27: Bankers in the City of London are braced for the axe after HSBC unveiled sweeping plans to cut about 35,000 jobs in a dramatic overhaul to revive its fortunes.

 

 

The West Australian

Page 7: Australians on board a coronavirus-infested cruise ship near Tokyo were preparing for their evacuation flight to Darwin last night as concerns grow over an escalating outbreak in Japan.

Page 8: A redeveloped Kings Square in Fremantle could be renamed after the father of Yagan, the Noongar warrior who fought against British colonisation.

Page 12: Iron ore heir Julian Wright broke down in tears yesterday as he detailed his bitter relationship with his billionaire siblings, claiming they refused to talk to him at their father’s funeral.

Page 18: Thousands of women across New Zealand have marched to urge parliament to remove abortion from the Crimes Act.

Business: An infrastructure crunch is coming for WA’s waste industry which could lead to “significant adversities” and hikes for ratepayers if it is not acted on before impending national rubbish export bans.

Former Australian Securities and Investments Commission deputy chairman Jeremy Cooper said the agency had a breadth of roles rarely matched globally and called for its managed funds responsibilities to be put under a new superannuation regulator.

WA’s $500 million-a-year rock lobster industry wants the State Government to extend the crayfishing season until the end of June next year to help it recoup export losses after losing the premium Chinese market because of the coronavirus.

Stymied production at St Barbara’s Australasian operations has slashed the goldminer’s half-year profits by more than half.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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