30/03/2020 - 06:57

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30/03/2020 - 06:57

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Wage subsidy for big business

Big and small business will be paid federal government wage subsidies to keep hundreds of thousands of workers on the payroll during the coronavirus crisis, via a ‘‘hibernation’’ package Prime Minister Scott Morrison says will be ‘‘bigger than anything you’ve so far seen’’. The Fin

Banks the recession ‘shock absorbers’

APRA chairman Wayne Byres says the banks have built up big enough capital reserves to get the financial system through the coronavirus crisis, even as they are still recovering from the bruising Hayne royal commission. The Fin

$1.1bn boost for GPs, Medicare

A major boost to Medicare, telehealth and mental health services, implementing 10 years of reform in 10 days, will allow Australians to seek medical help from home and provide new incentive payments to GPs during the COVID-19 crisis. The Aus

Eviction freeze stuns mall landlords

Shopping centres have been rocked by the six-month freeze on evictions ordered by Scott Morrison on Sunday night. The Aus

China spree sparks FIRB crackdown

The federal government has placed severe, immediate and indefinite restrictions on all foreign investment bids following at least two cases of Chinese-owned firms in Australia securing tonnes of precious medical supplies and shipping them to China. The Fin

Desperately needed research faces shortfall

University research, which Australia is relying on to find a cure for COVID-19, is set to receive a crushing blow as the virus, combined with student demographics, hits university revenues. The Fin

New social order: three's a crowd

Tough new social restrictions will take effect on Monday to fight the spread of COVID-19, with a limit imposed of only two people gathering in public spaces, older citizens urged to stay at home and children banned from playgrounds. The Aus

Joondalup on cruise control

The crisis involving 29 passengers aboard the German cruiser Artania docked off our coast was resolved late last night, with Federal Health Minister Greg Hunt announcing the COVID-19 positive travellers would be transferred to Joondalup Health Campus under a last-minute deal that won the support of the Australian Medical Association and the Australian Nursing Federation. The West

Gold helps some stop the worst

Listed contractors and resources service companies are among the biggest WA casualties of the coronavirus sell-off, plunging more than 70 per cent in value as some of the State’s best known companies have contained their losses to under 20 per cent. The West

Fishers carry on regardless

Australia’s northern prawn fishers expect to harvest about 4000 tonnes of banana prawns — most of which will end up in supermarkets across the nation — when the 2020 season cranks up in coming days. The West

 

 

The Australian Financial Review

Page 1: Big and small business will be paid federal government wage subsidies to keep hundreds of thousands of workers on the payroll during the coronavirus crisis, via a ‘‘hibernation’’ package Prime Minister Scott Morrison says will be ‘‘bigger than anything you’ve so far seen’’.

APRA chairman Wayne Byres says the banks have built up big enough capital reserves to get the financial system through the coronavirus crisis, even as they are still recovering from the bruising Hayne royal commission.

The federal government has placed severe, immediate and indefinite restrictions on all foreign investment bids following at least two cases of Chinese-owned firms in Australia securing tonnes of precious medical supplies and shipping them to China.

Page 3: The federal and state governments have limited public gatherings to two people, down from 10, while more public spaces, including playgrounds, will be shut.

Page 5: Private hospitals, some of which face collapse due to the ban on elective surgery, are lining up to become part of the public health system in return for the state and federal governments covering their costs.

The local head of medical-supplies giant Baxter International has urged the federal government to move quickly in getting its stockpile of intravenous medicines sorted ahead of a spike in COVID-19 cases.

Page 8: The federal government’s forthcoming wage subsidy package will mean fewer people dip into their retirement savings, Industry Super Australia says.

Page 9: The Holland America Line has confirmed 131 Australians remain aboard its liner MS Zaandam, which is floating off the coast of Panama, with permission to soon transit the Panama canal.

Page 10: European countries are heading towards the peak of the coronavirus pandemic, with French Prime Minister Edouard Philippe warning his people of worse to come.

Page 12: Even as coronavirus cases mount in Latin America’s largest nation, Brazilian President Jair Bolsonaro has staked out the most deliberately dismissive position of any major world leader, calling the pandemic a momentary, minor problem and saying strong measures to contain it are unnecessary.

Page 13: University research, which Australia is relying on to find a cure for COVID-19, is set to receive a crushing blow as the virus, combined with student demographics, hits university revenues.

Page 14: Top chief executives are split over the right response to the COVID-19 pandemic, with healthcare bosses urging a hard economic shutdown while directors of big banking, aviation and energy companies back the cautious approach of the Morrison government.

Page 17: The coronavirus pandemic has intensified discretionary-retail job losses and rent pressure, even as a lack of foot traffic finally proves beneficial to outlier David Jones.

Influential proxy advisers have sided with a shareholder pressure group against Santos’ board in backing a move to force the virus-stricken oil and gas producer to set targets for direct and indirect emissions in line with the Paris climate accord and link remuneration to their achievement.

 

 

The Australian

Page 1: Tough new social restrictions will take effect on Monday to fight the spread of COVID-19, with a limit imposed of only two people gathering in public spaces, older citizens urged to stay at home and children banned from playgrounds.

Page 4: Shopping centres have been rocked by the six-month freeze on evictions ordered by Scott Morrison on Sunday night.

The Chief Medical Officer is optimistic Australia has started “flattening the curve” of the coronavirus outbreak but health authorities remain concerned mistakes such as the Ruby Princess cruise disembarkation could mean there are still undetected chains of transmission in the community.

Page 5: The global body charged with leading the fight against COVID-19, the World Health Organisation, is beset with bureaucratic infighting, confusion about its role and is in dire need of reform, former foreign minister Julie Bishop says.

Page 6: A major boost to Medicare, telehealth and mental health services, implementing 10 years of reform in 10 days, will allow Australians to seek medical help from home and provide new incentive payments to GPs during the COVID-19 crisis.

Page 13: National Australia Bank has taken more calls from customers in the past five days than it would normally see in an entire year, with more than 200,000 customers reaching out to the bank in the past week, chief executive Ross McEwan has revealed.

Page 15: Power giant AGL Energy says the energy price crash will not dampen its appetite for developing Australia’s first gas import plant, with market volatility likely to eventually subside, leaving a looming supply shortfall forecast for the nation’s east coast.

Australia is undergoing a permanent, widespread shift to remote studying and working that will last well beyond the COVID-19 crisis, according to the local boss of video-conferencing specialist Zoom, which has defied the market bloodbath to be one of the few stocks to gain steam in the past month.

Page 17: At casinos in Macau, the world’s biggest gambling hub, customers must wear masks, have their body temperature taken upon entry and refrain from eating or drinking at the gambling tables.

 

 

The West Australian

Page 4: The crisis involving 29 passengers aboard the German cruiser Artania docked off our coast was resolved late last night, with Federal Health Minister Greg Hunt announcing the COVID-19 positive travellers would be transferred to Joondalup Health Campus under a last-minute deal that won the support of the Australian Medical Association and the Australian Nursing Federation.

Page 7: All non-essential travel into WA will be banned under plans by the State Government for a “hard border” guarded by police and soldiers.

Page 8: The State’s peak medical body has been warning for more than a decade that the WA health system is teetering on the edge of a crisis, with concerns raised many times over bed shortages and cuts to public health.

Page 9: All public servants have been told they should be working from home if it is possible, under new guidelines released after Federal agencies came under fire for being much slower than big business to implement remote working.

Business: Businesses are facing a very uncertain future and should be “disaster planning” to try to ensure they come out the other end, according to WA legal and financial experts.

Listed contractors and resources service companies are among the biggest WA casualties of the coronavirus sell-off, plunging more than 70 per cent in value as some of the State’s best known companies have contained their losses to under 20 per cent.

Australia’s northern prawn fishers expect to harvest about 4000 tonnes of banana prawns — most of which will end up in supermarkets across the nation — when the 2020 season cranks up in coming days.

A prominent agricultural consultant says it’s disappointing Co-operative Bulk Handling has no plans to follow the Reserve Bank of Australia by lowering interest rates on an important financial product offered to its members.

Your Money has identified a Centrelink timing problem that may be costing thousands of retirees hundreds of dollars a fortnight in reduced pension payments.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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