24/03/2020 - 06:45

Morning Headlines

24/03/2020 - 06:45

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Morning Headlines

It’s going to be all Wyatt now

Ben Wyatt has reversed his decision to quit politics, declaring: “I want to serve my State in its time of need.” The West

Miners urged to boost local workers as bans impair FIFO

Big miners are confident their reliance on fly-in fly-out (FIFO) workforces is sustainable amid tougher domestic travel restrictions, as the mayors of mining towns say they would embrace a shift back to residential workforces. The Fin

Jobs crunch hits dole queues

More than 300,000 people could lose their jobs in the first wave of heavy cost-cutting as corporate Australia desperately attempts to stave off the worsening effects of the coronavirus pandemic and conserve cash amid unprecedented shutdowns of large parts of the hospitality industry. The Fin

$40b more for ‘toughest year of our lives’

The Morrison government has set aside a further $40 billion to spend on measures such as purchasing emergency medical supplies, boosting the front-line health response, and another round of economic assistance as the coronavirus crisis intensifies in the months ahead. The Fin

Vital parts left unprinted

Perth-based 3D printing businesses and some of the State’s universities say they are ready to start production of potentially life-saving ventilator parts but are held up by a lack of direction from the State Government. The West

Woodside feels the credit heat over gas hub

Woodside Petroleum is under growing pressure to press pause on its $19 billion Scarborough LNG project after S&P Global warned it could downgrade the company’s credit rating if the development went ahead. The West

The price to pay for cashing out super

People under the age of 30 who access their superannuation now would end up at least $100,000 poorer in retirement, super funds have warned, as polling emerges showing that the bulk of households support the federal government’s plan to allow early access to super for the unemployed. The Aus

ALH takes axe to 8000 workers

ALH Group, the pubs and pokies joint venture between the Mathieson family and Woolworths, is understood to have stood down as many as 8000 of its staff across its 300-plus licensed venues as state governments close pubs and clubs across Australia to battle coronavirus. The Aus

Caltex eyes 80-90pc drop in jet fuel demand as flights cancelled

Takeover target Caltex Australia is expecting demand for jet fuel could drop by up to 90 per cent from normal levels as a result of widespread flight cancellations in a dramatic scale-up from its initial estimate of the impact of COVID-19. The Fin

Half of schoolkids stay away

Nearly 50 per cent of students stayed away from school yesterday, as parents ignored advice from the Prime Minister and the chief medical officer. The Fin

Food security assured as never a better time to be a farmer

Farmers will thrive through the coronavirus crisis and consumers should stop worrying about food security, says agribusiness leader Mark Allison. The Fin

 

 

The Australian Financial Review

Page 1: More than 300,000 people could lose their jobs in the first wave of heavy cost-cutting as corporate Australia desperately attempts to stave off the worsening effects of the coronavirus pandemic and conserve cash amid unprecedented shutdowns of large parts of the hospitality industry.

The Morrison government has set aside a further $40 billion to spend on measures such as purchasing emergency medical supplies, boosting the front-line health response, and another round of economic assistance as the coronavirus crisis intensifies in the months ahead.

Page 3: Nearly 50 per cent of students stayed away from school yesterday, as parents ignored advice from the Prime Minister and the chief medical officer.

Page 4: Surgeons who operate on the ear, nose and throat (ENT) are taking radical and unprecedented action to protect themselves and their teams from the new coronavirus.

Page 5: Farmers will thrive through the coronavirus crisis and consumers should stop worrying about food security, says agribusiness leader Mark Allison.

Page 12: The nation’s largest super fund, AustralianSuper, has lent influential support to the government’s controversial plan to allow consumers hit hard by the coronavirus crisis to raid their super savings, despite the gripes of smaller industry fund peers.

Page 16: Santos chief executive Kevin Gallagher says the oil and gas producer is ‘‘hunkering down’’ and putting all growth projects on ice as it seeks to ride out the oil price crash, with the first casualty being the $7 billion Barossa gas project off the northern coast.

Page 18: The owner of one of Australia’s biggest wine brands, Jacob’s Creek, is worried that if governments extend shutdowns to factories and industrial processes in the fight against coronavirus then a year’s worth of wine production could be lost.

Village Roadshow, Event Hospitality & Entertainment and Hoyts have been forced to close their cinema doors following an Australian government mandated shutdown to attempt to stymie the spread of coronavirus.

Page 20: Australia’s technology start-ups are already feeling the crunch of the COVID-19 economic downturn, with cancelled funding rounds, staff layoffs and founders going without pay, despite stimulus measures designed to help smaller companies.

Page 23: Takeover target Caltex Australia is expecting demand for jet fuel could drop by up to 90 per cent from normal levels as a result of widespread flight cancellations in a dramatic scale-up from its initial estimate of the impact of COVID-19.

Page 24: Big miners are confident their reliance on fly-in fly-out (FIFO) workforces is sustainable amid tougher domestic travel restrictions, as the mayors of mining towns say they would embrace a shift back to residential workforces.

Rio Tinto’s Mongolian copper project will require a bigger than expected fundraising after the Rio subsidiary building the mine said it needed to raise ‘‘at least’’ six times its current market capitalisation.

 

 

The Australian

Page 1: More than a million Australians could be forced on to welfare by lockdowns to combat the coronavirus, which Scott Morrison warned had plunged the country into an economic crisis not experienced since the Great Depression.

People under the age of 30 who access their superannuation now would end up at least $100,000 poorer in retirement, super funds have warned, as polling emerges showing that the bulk of households support the federal government’s plan to allow early access to super for the unemployed.

Page 2: Gun shops are reporting a surge in ammunition sales amid concerns of looming shortages and price hikes, as hunters heading for the hills are warned they could spread the coronavirus.

Page 4: Special welfare payments and visa extensions will be offered to non-residents stranded in Australia who lose their jobs and are unable to return home.

New car sales across Australia have crashed by nearly 60 per cent in the space of a week, as the coronavirus pandemic and government calls on people not to travel cripple vehicle dealerships.

Page 6: More than 230,000 students were given a $550 boost to their income as the Morrison government extended its stimulus package on Monday night.

Page 15: A surge of customer interest in bank hardship packages has intensified fears of a huge blowout in bad debts, prompting another share-price rout for the major banks.

Page 17: The Crown Resorts, Star Entertainment and SkyCity Entertainment casino groups remain in complex negotiations with staff and unions following the unprecedented federal government shutdown of their operations in the wake of the coronavirus pandemic.

As schools and companies accelerate a shift to remote learning and working due to the coronavirus epidemic, executives are working out how they can best communicate with their workers and use digital technologies to get their message out.

Page 19: ALH Group, the pubs and pokies joint venture between the Mathieson family and Woolworths, is understood to have stood down as many as 8000 of its staff across its 300-plus licensed venues as state governments close pubs and clubs across Australia to battle coronavirus.

 

 

The West Australian

Page 1: Ben Wyatt has reversed his decision to quit politics, declaring: “I want to serve my State in its time of need.”

Page 7: A group of Anglican schools has taken the dramatic step of strongly recommending parents not send their children to school as they move all lessons online in response to the COVID-19 pandemic.

Page 9: The peak body for WA nurses is calling for the State and the country to be placed in total lockdown, including the introduction of curfews that would prevent residents from leaving their homes except to go to work, shop or attend medical appointments.

Page 11: Australians will begin getting $750 cash handouts from next week with Federal Parliament late last night passing the economic stimulus bills.

A group of workers aboard an oil and gas drilling rig off the Kimberley coast were being transferred to the mainland last night after a colleague tested positive for COVID-19.

Page 12: Heartbroken but determined, WA’s elite athletes will continue to train for postponed Olympic glory.

Page 18: An improved prostate cancer scan may save lives by detecting those at risk of recurrence.

WA fuel prices dipped under a dollar at some stations yesterday, with the cheapest regular unleaded fuel 96.9¢ a litre at Shell Ravenswood, Bellevue, Redcliffe and Maddington.

Business: Perth-based 3D printing businesses and some of the State’s universities say they are ready to start production of potentially life-saving ventilator parts but are held up by a lack of direction from the State Government.

Woodside Petroleum is under growing pressure to press pause on its $19 billion Scarborough LNG project after S&P Global warned it could downgrade the company’s credit rating if the development went ahead.

Two WA craft breweries have joined forces to produce commercial volumes of hospital-grade hand sanitiser, in an attempt to help slow the spread of COVID-19.

Strike Energy is promoting its takeover interest in partner Warrego Energy as offering financial and project security in uncertain times.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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