04/03/2020 - 06:52

Morning Headlines

04/03/2020 - 06:52

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Morning Headlines

Weak export volumes keep iron ore prices high

Australia’s biggest iron ore miners have completed their weakest February export performance in five years, bolstering prices for the nation’s most lucrative commodity through a period marked by coronavirus disruption. The Fin

The $380m, 23-storey development set to change the western suburbs

The western suburbs density debate will heat up again with a proposal for an apartment block in Nedlands that would set a height record in the area, with four adjoining buildings up to 23 storeys high. The West

Tech giants’ toll: AAP newswire to close after 85 years

Australian Associated Press will be broken up after 85 years, with its national newswire to be shut on June 26 and some of its remaining media operations sold off. The Aus

Team Australia delivers rate cut

Australia’s big four banks will take a hit to their profits after succumbing to pressure from the Morrison government to fully pass on the Reserve Bank of Australia’s interest rate cut to a record low as a means to protect the economy from the rapidly escalating coronavirus crisis. The Fin

Here comes the stimulus saviour

Scott Morrison says he will announce a “targeted and scalable” stimulus package before the May Budget to help Australia deal with the economic fallout of the coronavirus. The West

Santos, BP move to bury carbon in outback SA

Energy giants Santos and BP have entered an agreement to bury up to 20 million tonnes of carbon each year in the Moomba gas fields and will now seek government financial support in the form of carbon credits. The Fin

Global bankers in crisis meeting

The world’s most powerful finance ministers and central bankers on Tuesday night held an emergency teleconference to discuss their policy response to the coronavirus, as the Reserve Bank kicked off a fresh round of easing by cutting interest rates to a record low. The Aus

Airlines suffer 50pc ‘no shows’

International airlines are reporting “no shows” by 50 per cent of passengers as the coronavirus crisis deepens. The Aus

Locked out: Huawei dissolves local board as work dries up

Chinese telecommunications giant Huawei is dissolving its local board, amid substantial job and revenue losses triggered by the Australian government’s decision to block its participation in building 5G networks. The Fin

Spotlight set to take over Harris Scarfe

Harris Scarfe appears set to change hands for the sixth time in less than 20 years after homewares retailer Spotlight Group clinched a deal which could see most of the chain’s remaining 44 stores continue to trade. The Fin

Businesses respond to virus threat

WA businesses are telling their workers returning from travel to countries deemed at high-risk of coronavirus not to return to work but instead quarantine themselves at home for 14 days. The West

 

 

The Australian Financial Review

Page 1: Australia’s big four banks will take a hit to their profits after succumbing to pressure from the Morrison government to fully pass on the Reserve Bank of Australia’s interest rate cut to a record low as a means to protect the economy from the rapidly escalating coronavirus crisis.

Page 3: Cattle prices have hit record levels on the back of recent drought-breaking rain, but there are now fears of big job losses in the meat processing industry and a blow-out in household budgets.

Page 4: The Coalition changed the list of approved projects for a controversial sports grants program hours after Scott Morrison called the federal election, Parliament has heard.

Page 5: Energy giants Santos and BP have entered an agreement to bury up to 20 million tonnes of carbon each year in the Moomba gas fields and will now seek government financial support in the form of carbon credits.

Page 9: Toilet paper manufacturers in Australia say the country will be spared from a shortage, even though panicking shoppers are buying extra supplies from big supermarket chains amid coronavirus outbreak fears.

Page 13: Chinese telecommunications giant Huawei is dissolving its local board, amid substantial job and revenue losses triggered by the Australian government’s decision to block its participation in building 5G networks.

Page 15: Harris Scarfe appears set to change hands for the sixth time in less than 20 years after homewares retailer Spotlight Group clinched a deal which could see most of the chain’s remaining 44 stores continue to trade.

Page 17: Australia’s biggest iron ore miners have completed their weakest February export performance in five years, bolstering prices for the nation’s most lucrative commodity through a period marked by coronavirus disruption.

 

 

The Australian

Page 1: Indigenous Australians Minister Ken Wyatt has created a new advisory group to develop options for regional bodies to be part of an indigenous voice to government.

Page 2: Australian Associated Press will be broken up after 85 years, with its national newswire to be shut on June 26 and some of its remaining media operations sold off.

Page 6: An enterprise agreement covering train drivers delivering iron ore from Gina Rinehart’s Roy Hill Mine has been overturned by the Fair Work Commission, after the tribunal found it contained conditions that left workers worse off when compared with the award.

Page 10: Benjamin Netanyahu has claimed victory in Israel’s general election, with exit polls putting the indicted Prime Minister in a strong position to form the next government.

Page 17: The world’s most powerful finance ministers and central bankers on Tuesday night held an emergency teleconference to discuss their policy response to the coronavirus, as the Reserve Bank kicked off a fresh round of easing by cutting interest rates to a record low.

Page 19: International airlines are reporting “no shows” by 50 per cent of passengers as the coronavirus crisis deepens.

Page 20: An overhaul of carbon farming is urgently needed, with some companies rorting the system for “passive income” rather than agricultural production, according to David Littleproud, the Minister for Agriculture and Water Resources.

Page 21: The Future Fund is mulling the development of technology that will allow it to better analyse its exposure to fossil fuels and climate change risk, as it prepares to manage its $170bn portfolio for a potential global carbon tax.

 

 

The West Australian

Page 1: WA’s biggest amateur Australian Rules league has banned the traditional post-match changerooms beer.

Page 3: Embattled billionaire Clive Palmer owes more than $6600 from his time in Parliament, with the national peak expenses body confirming it had launched debt collection processes.

Page 4: Scott Morrison says he will announce a “targeted and scalable” stimulus package before the May Budget to help Australia deal with the economic fallout of the coronavirus.

Page 7: The NBA has told players to avoid high-fiving fans and strangers and not take items to sign autographs as the league monitors the coronavirus crisis that has spread to most corners of the planet.

Page 8: The western suburbs density debate will heat up again with a proposal for an apartment block in Nedlands that would set a height record in the area, with four adjoining buildings up to 23 storeys high.

Australia’s government-owned shipbuilding company drafted press releases on a submarine maintenance decision expected to have been made by December and did not know the announcement was going to be postponed.

Business: The upheaval from the coronavirus outbreak may be the final jolt that the world’s biggest companies need to re-evaluate how they operate in a globalised economy, the OECD’s chief economist Laurence Boone said.

WA businesses are telling their workers returning from travel to countries deemed at high-risk of coronavirus not to return to work but instead quarantine themselves at home for 14 days.

A pair of 25-storey towers could be built behind the Perth Girls School as part of the historic site’s redevelopment.

Building approvals have continued to fall in WA, with the number of new homes down 6 per cent in the month to January, according to new figures from the Australian Bureau of Statistics.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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