10/03/2020 - 06:47

Morning Headlines

10/03/2020 - 06:47

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Morning Headlines

PM’s crisis call to big business

Scott Morrison says the ‘‘time is now’’ to sacrifice the forecast budget surplus for economic stimulus, while also demanding big business help pull Australia through a downturn which, he says, is ‘‘potentially greater’’ than the global financial crisis. The Fin

Poor policy on climate and tech holds back agriculture

The boss of Australia’s biggest listed cattle company has warned politicians that they are hurting the industry with their toxic debate on climate change. The Fin

It’s anything but business as usual

WA schools will have to be closed this winter, says Australian Medical Association WA president Andrew Miller. The West

Tax-slugged miners are ‘bankrolling us all’

Australian mining companies are delivering almost half of their taxable incomes towards corporate tax and royalty regimes, paying more than $20bn annually to prop up federal and state budget bottom lines. The Aus

Huawei to hell: customers shun telco

A global cyber security expert has warned that the Australian government’s almost uniquely strong stance on blocking Huawei from 5G networks could trigger a spike in China-backed cyber attacks on the country’s telecommunications infrastructure. The Fin

Cannon-Brookes: Staff want us to drive change

Business can no longer sit on the fence when it comes to addressing environmental and social issues, with a new survey showing employees want their companies to play stronger leadership roles in society, Atlassian co-founder and chief executive Mike Cannon-Brookes says. The Fin

Infrastructure sector sweats on the fallout

The boss of global engineering firm AECOM says the sector is sweating on global supply challenges sparked by the coronavirus, with Australian executives closely watching how quickly China returns to peak production. The Fin

Grocery delivery delay as online orders soar

Coles is advising e-commerce customers to pick up orders rather than have them delivered as a surge in online demand amid the coronavirus crisis leads to a blowout in delivery times. The Fin

PM’s plan to keep your job

The Federal Government is considering supercharging its deregulation agenda in order to “unclog” the economy in the wake of bushfire and coronavirus shocks. The West

Be alert but not alarmed

Keep calm and carry on this morning if you are aged under 50 and have most of your superannuation invested in Australian and overseas sharemarkets. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison says the ‘‘time is now’’ to sacrifice the forecast budget surplus for economic stimulus, while also demanding big business help pull Australia through a downturn which, he says, is ‘‘potentially greater’’ than the global financial crisis.

Page 2: Competition chief Rod Sims is concerned there is ‘‘enormous potential’’ for Google, Facebook, large multinational advertising giants and technology companies to preference their own products without transparency about where marketers’ budgets are spent.

Page 4: A 47 per cent collapse in the price of crude oil since January 3 and consequently lower petrol prices will effectively wipe out nearly half of Australia’s quarterly inflation.

Page 6: The boss of Australia’s biggest listed cattle company has warned politicians that they are hurting the industry with their toxic debate on climate change.

Page 8: Business can no longer sit on the fence when it comes to addressing environmental and social issues, with a new survey showing employees want their companies to play stronger leadership roles in society, Atlassian co-founder and chief executive Mike Cannon-Brookes says.

Page 9: Donald Trump’s former economic adviser Kevin Hassett says Australia’s response to the virus crisis should not be tax cuts but direct cash injections to businesses, ensuring jobs and cashflows are maintained.

Page 11: The boss of global engineering firm AECOM says the sector is sweating on global supply challenges sparked by the coronavirus, with Australian executives closely watching how quickly China returns to peak production.

Page 12: Indonesian scientists have doubts about the accuracy of the country’s COVID-19 testing and have called on the government to work with others to speed up and improve diagnosis.

Page 13: The International Monetary Fund is ringing alarm bells about sluggish government responses to the intensifying economic fallout from the coronavirus outbreak, urging policy solutions to avoid lasting damage.

Page 15: The steepest slump in oil prices since the Gulf War has sent the market into a panic-selling tailspin as investors assess the impact of likely project delays and cancelled asset sales against a global backdrop of escalating economic and geopolitical tensions.

Page 17: Coles is advising e-commerce customers to pick up orders rather than have them delivered as a surge in online demand amid the coronavirus crisis leads to a blowout in delivery times.

Page 18: There is no immediate threat to billions of dollars of investment in new mines and jobs despite Australia’s iron ore giants copping a brutal share price hammering.

Page 23: CEOs must expect to suffer the horror of a major cyber attack, warns the managing director of logistics giant Toll Group, who has called for greater collaboration between business, government and regulators to tackle the growing global threat.

Page 24: A global cyber security expert has warned that the Australian government’s almost uniquely strong stance on blocking Huawei from 5G networks could trigger a spike in China-backed cyber attacks on the country’s telecommunications infrastructure.

 

 

The Australian

Page 1: Pensioners, Newstart recipients and small business owners are among a range of targeted recipients being considered for one-off cash payments to help funnel money back into the economy and protect jobs under the Morrison government’s multi-billion-dollar response to the coronavirus.

Australians are spending $11.3bn a year on “ice’’, cocaine, MDMA and heroin, an increase of nearly $2bn, as illicit drug use soars across the nation.

Page 2: Australian mining companies are delivering almost half of their taxable incomes towards corporate tax and royalty regimes, paying more than $20bn annually to prop up federal and state budget bottom lines.

Page 5: Public health experts are raising the need to shift towards cashless payments to help prevent the spread of coronavirus, as the World Health Organisation warns the virus can be transmitted to customers via banknotes and coins.

Business groups are demanding the Morrison government bear the brunt of any special payments to casual workers forced into self-isolation by the coronavirus, as Industrial Relations Minister Christian Porter holds talks with employer groups and unions on Tuesday.

Page 18: It will be interesting to see how the collapse of the oil price and major declines in sector stocks on Monday affect Woodside Petroleum’s sale of its Pluto and Scarborough LNG project.

Page 19: The powerful Australian Banking Association led by Anna Bligh has promised its retail sector counterpart it will take a look at the battle over Eftpos and bank card merchant fees that costs the nation’s shop owners more than $500m.

The coronavirus could lead to permanent changes in the way companies work, with more people working from home, more video conferences and companies taking a much more critical look at employee travel, according to Brambles chief executive Graham Chipchase.

Page 21: Australia’s richest people lost more than $1.5bn from the value of their shareholdings on Monday, during some spectacular falls among ASX-listed stocks.

 

 

The West Australian

Page 3: Media personality Basil Zempilas says he is “flattered” that former Perth lord mayor Lisa Scaffidi has publicly backed his potential candidacy for the vacant job.

Page 4: The Federal Government is considering supercharging its deregulation agenda in order to “unclog” the economy in the wake of bushfire and coronavirus shocks.

Page 7: WA schools will have to be closed this winter, says Australian Medical Association WA president Andrew Miller.

Page 11: Up to 650 non-clinical jobs at Fiona Stanley Hospital will be brought back into the State’s public sector at a cost to WA taxpayers of about $93 million over 10 years.

Business: Keep calm and carry on this morning if you are aged under 50 and have most of your superannuation invested in Australian and overseas sharemarkets.

Gold loves uncertainty but even the favourite safe haven go-to yesterday struggled to cope with the heightened anxiety levels now rattling global financial markets.

WA-based anti-counterfeit technology company Cellr is tapping into the $350 billion global wine market with its device that simplifies authenticating bottles of wine.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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