09/04/2020 - 06:57

Morning Headlines

09/04/2020 - 06:57

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Morning Headlines

Plea to PM: snap us back soon

Corporate heavyweight Richard Goyder has questioned the government’s six-month business hibernation strategy and made the economic case for a swifter relaxing of tough COVID-19 restrictions. The Fin

JobKeeper tipped to cost less than $130b

The federal government’s $130 billion wage subsidy will probably cost less than forecast because it is unlikely that more than half of the nation’s 11 million private sector workers will receive the payments, market economists say. The Fin

‘Let’s follow the dragon’

WA mining billionaire Andrew Forrest says he wants Australia to position itself as the next nation after China to “switch its economy back on” after the COVID-19 crisis is brought under control. The West

Mining through crisis

Seven Group Holding boss Ryan Stokes says Australia’s resources and construction sectors are on track to continue operating through the coronavirus crisis based on government support and effective measures to screen and protect workers. The Aus

Bank shareholders brace for pinch of dividend cuts

Australian bank investors are facing a massive blow to their incomes from imminent dividend cuts adding to pressure on an economy already reeling from a war-like shock. The Fin

Cops issue stern warning ahead of long weekend

Perth beaches are under threat of being closed after thousands of sunseekers flocked to the coast yesterday — with many appearing to ignore social distancing rules. The West

Suburbs the saviour in virus fight

The traditional suburban quarter-acre block plays an important role in keeping the death rate from COVID-19 relatively low in Australia. The Fin

ANU to use year 11 results for entry

The Australian National University says it will enrol students in next year’s courses using their year 11 results, instead of waiting to see how they go in year 12. The Fin

Sowing the seeds of farming’s big post-drought comeback

Australian farmers buoyed by recent rain and strong wheat prices are set to add more than a million hectares to grain production this year. The Fin

Rio Tinto 'to maintain payout'

Rio Tinto chair Simon Thompson says the company has resisted temptation to follow many of its corporate peers and cut dividends to preserve cash in the face of the global coronavirus crisis, citing a “full” iron ore order book and the need to look after Australian retail shareholders. The Aus

 

 

The Australian Financial Review

Page 1: Australian bank investors are facing a massive blow to their incomes from imminent dividend cuts adding to pressure on an economy already reeling from a war-like shock.

Page 3: Prime Minister Scott Morrison has signalled an eventual return to an open-market economy and has labelled the battle against the coronavirus pandemic as a fight for the nation’s sovereignty.

Page 5: The traditional suburban quarter-acre block plays an important role in keeping the death rate from COVID-19 relatively low in Australia.

Page 6: The federal government’s $130 billion wage subsidy will probably cost less than forecast because it is unlikely that more than half of the nation’s 11 million private sector workers will receive the payments, market economists say.

Business will further push to relax workplace conditions in more than a dozen industry awards to cope with the coronavirus crisis, despite the government’s sweeping industrial relations changes for JobKeeper.

Page 11: Residential property landlords are facing a new setback as insurers refuse to cover shortfalls resulting from agreements with tenants to reduce weekly rental payments, despite pleas from the federal government for negotiated agreements.

Page 12: The Australian National University says it will enrol students in next year’s courses using their year 11 results, instead of waiting to see how they go in year 12.

Government shutdowns amid the coronavirus pandemic in Australia have forced Foxtel to cut 200 jobs and stand down a further 140 until June 30.

Page 13: Australian farmers buoyed by recent rain and strong wheat prices are set to add more than a million hectares to grain production this year.

Page 23: Bank of Queensland CEO George Frazis says it will be at least a few months before a sensible stress test is developed in conjunction with the Australian Prudential Regulation Authority to determine the level of bank dividends that can safely be paid.

Page 25: S&P Global Ratings has revised Australia’s AAA credit rating outlook to ‘‘negative’’ because of an expected sharp rise in public debt and the first recession in almost 30 years caused by the coronavirus pandemic.

Page 26: Seven Group Holding boss Ryan Stokes says Australia’s resources and construction sectors are on track to continue operating through the coronavirus crisis based on government support and effective measures to screen and protect workers.

Page 29: The Australian Taxation Office has escalated its transfer pricing probe into Rio Tinto’s aluminium division, further complicating talks between the miner and the federal government over a rescue package for Rio’s three lossmaking Australian smelters.

 

 

The Australian

Page 1: Corporate heavyweight Richard Goyder has questioned the government’s six-month business hibernation strategy and made the economic case for a swifter relaxing of tough COVID-19 restrictions.

Page 3: Health Minister Greg Hunt has pledged to begin lifting social distancing restrictions “wherever we can’’ but has warned it is “not going to happen yet’’ and the way out of the virus crisis remains a six month exercise.

Page 5: All state governments have clinched deals that will guarantee funding to private hospitals, which will be fully integrated with the public system in the fight against COVID-19.

Page 6: Former resources minister Matt Canavan has called for a temporary ban on fly-in, fly-out workers into regional areas, citing the need to neutralise the COVID-19 threat to remote and indigenous communities.

Page 13: Rio Tinto chair Simon Thompson says the company has resisted temptation to follow many of its corporate peers and cut dividends to preserve cash in the face of the global coronavirus crisis, citing a “full” iron ore order book and the need to look after Australian retail shareholders.

Page 15: Shopping centre giant Scentre, which runs the Westfield centres, has called for retailers in its complexes to open if they can, in the wake of a series of chains and small operators deserting its malls despite the complexes being dubbed an essential service by the federal government.

 

 

The West Australian

Page 1: Perth beaches are under threat of being closed after thousands of sunseekers flocked to the coast yesterday — with many appearing to ignore social distancing rules.

Page 5: Family violence offences have increased across the metropolitan area as WA families hunker down and stay home due to the COVID-19 pandemic.

Page 7: Close to 70,000 West Australian businesses have already registered to access the Federal Government’s wage subsidy scheme as it was last night passed into law.

Page 9: WA mining billionaire Andrew Forrest says he wants Australia to position itself as the next nation after China to “switch its economy back on” after the COVID-19 crisis is brought under control.

Page 18: Scammers are targeting regional West Australians through unsolicited social media and text messages, urging them to invest in a fraudulent scheme.

Business: Anxious investors have fled three of Australia’s big four banks amid growing fears that dividends will be sacrificed in the fight against the coronavirus.

Shares in AssetOwl have rocketed after the WA technology company announced it would introduce virtual property tours in response to COVID-19 restrictions.

Indonesian importer PT TUM’s president director Pudjantoro Hasan said in a letter to live exporter Frontier International that it was with great regret that it was cancelling a shipment under force majeure.

Qantas has demanded airports share in the financial pain triggered by the coronavirus as it defends its decision to not pay rent and defer some aeronautical charges.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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