20/04/2020 - 06:57

Morning Headlines

20/04/2020 - 06:57

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Morning Headlines

Big tech made to pay for news

Facebook and Google will be forced to pay Australian media companies for publishing their news stories, under a world-first mandatory code of conduct, after negotiations with the two global digital giants failed. The Fin

Takeover dispute heading to court

Pioneer Credit has wasted no time in carrying through on its threat of legal action against private equity buyer Carlyle over their stalled pre-coronavirus $120 million takeover deal. The West

Carnell calls for payments law

A surge in big businesses using the coronavirus outbreak to delay payments to smaller suppliers by up to six months has prompted Small Business Ombudsman Kate Carnell to formally recommend the Morrison government legislate 30-day payment times. The Aus

Coalition pressure to rescue Virgin

The Morrison government is under pressure from its own ranks to mount an 11th-hour rescue bid to save Virgin Airlines, with the company poised to go into voluntary administration within days. The Aus

Hostplus pulls $1.5b from property fund

Hostplus is seeking to withdraw $1.5 billion from one of the country’s biggest property investment funds ahead of what could be an avalanche of requests by out-of-work hospitality and tourism workers for early access to their retirement savings. The Fin

BCA plan aims to accelerate recovery

Business leaders pushing for the restoration of Australia’s shuttered economy have outlined reopening plans based on safety and confidence, alongside an ‘‘acceleration’’ in government spending and regulatory reforms. The Fin

It’s time for some creative destruction

University professors warn of mass job cuts of 100,000 in higher education and others talk about creative destruction, as they react to the crisis over international student enrolments. The Fin

Independence may swoop

Independence Group (IGO) has made no secret of the fact it would be shopping for deals in 2020 with its $396 million warchest. The Fin

RCR insolvent weeks before administration

RCR Tomlinson, the failed engineering group, was insolvent for three weeks before it went into administration, liquidator McGrathNicol has concluded as investigations continue into whether its former directors breached their duties. The Fin

Westralians it’s time for us to unite!

Julie Bishop wants WA to maintain an “attitudinal secession” from the rest of the country after border closure is lifted and has urged “Westralians” to keep thinking differently. The West

 

 

The Australian Financial Review

Page 1: Facebook and Google will be forced to pay Australian media companies for publishing their news stories, under a world-first mandatory code of conduct, after negotiations with the two global digital giants failed.

Page 3: Hostplus is seeking to withdraw $1.5 billion from one of the country’s biggest property investment funds ahead of what could be an avalanche of requests by out-of-work hospitality and tourism workers for early access to their retirement savings.

Page 4: Business leaders pushing for the restoration of Australia’s shuttered economy have outlined reopening plans based on safety and confidence, alongside an ‘‘acceleration’’ in government spending and regulatory reforms.

An international institution or panel of distinguished experts could lead a wide-ranging review of the global coronavirus pandemic, as Foreign Minister Marise Payne led calls for an independent report into the genesis and handling of COVID-19.

Page 5: AGL chief executive Brett Redman says more than 10,000 customers have asked for their energy bills to be delayed as part of its COVID-19 support program, and predicts more pain to come, as he works from home to keep the lights on.

Page 8: Fewer than one-third of dwellings listed for auction over the past week have sold, the strongest sign yet house prices may already be falling.

Page 9: Up to a quarter of Australia’s workforce could be out of work because of the coronavirus restrictions, and the jobless rate is likely to surpass anything seen since the Great Depression, a new analysis has found.

Page 10: President Donald Trump raised the prospect that China deliberately caused the COVID-19 outbreak that has killed more than 39,000 Americans and said there should be consequences if the country is found to be ‘‘knowingly responsible’’.

Page 12: University professors warn of mass job cuts of 100,000 in higher education and others talk about creative destruction, as they react to the crisis over international student enrolments.

Page 13: Mayfair 101 will continue aggressively acquiring customers and bringing new products to market in spite of a court ruling that seemingly prohibits the controversial fund manager from marketing two of its flagship investment funds.

Page 14: Independence Group (IGO) has made no secret of the fact it would be shopping for deals in 2020 with its $396 million warchest.

Page 16: RCR Tomlinson, the failed engineering group, was insolvent for three weeks before it went into administration, liquidator McGrathNicol has concluded as investigations continue into whether its former directors breached their duties.

The world’s biggest gold miner has talked down the likelihood of further acquisitions and signalled it will be patient if Northern Star needs more time to buy its power assets.

Page 18: National Australia Bank is coaching mortgage brokers to quiz customers about the impact of COVID-19 on their personal and business income, their capacity to service loans and on how to detect whether they are receiving JobKeeper payments.

 

 

The Australian

Page 1: The Morrison government is under pressure from its own ranks to mount an 11th-hour rescue bid to save Virgin Airlines, with the company poised to go into voluntary administration within days.

Page 3: Australia has seen an increase in coronavirus cases of less than 1 per cent per day for seven straight days, showing a “genuine flattening” of the infection curve, Health Minister Greg Hunt has declared.

Page 4: Parliament’s leading medico MPs are urging Australians and sceptical colleagues to download a controversial coronavirus tracing app, after being enlisted into the fight against COVID-19.

Page 6: Mervyn King, governor of the Bank of England during the global financial crisis, said lockdowns were “doing enormous damage” to the economy and urged governments to be “honest” about the need for a clear exit strategy “sooner rather than later”.

Page 13: A surge in big businesses using the coronavirus outbreak to delay payments to smaller suppliers by up to six months has prompted Small Business Ombudsman Kate Carnell to formally recommend the Morrison government legislate 30-day payment times.

Page 15: Australia’s biggest health company CSL has confirmed it will produce an extra two million flu vaccinations as doctors, clinics and pharmacists exhaust their supplies amid the coronavirus pandemic.

Page 19: Domain is poised to significantly reduce salaries and make job cuts in drastic measures put to staff to help stem the financial bleeding in the real estate sector caused by COVID-19.

 

 

The West Australian

Page 1: Cyber criminals are trying to cash in on the COVID-19 crisis by using the dark web to sell drugs they falsely claim will “kill” the virus and unregulated home testing kits.

Page 3: Children packing their bags ahead of a return to school for Term 2 should leave out their hockey sticks and soccer balls, with junior sport unlikely to resume until the end of next month at the earliest.

Page 8: Julie Bishop wants WA to maintain an “attitudinal secession” from the rest of the country after border closure is lifted and has urged “Westralians” to keep thinking differently.

Page 10: COVID-19 may have changed Anzac Day celebrations in WA for ever, with RSLWA president Peter Aspinall proclaiming driveway commemorations could become an annual event.

Page 14: The full health impact of prescribed burn-offs in WA has been revealed in alarming research showing there were an estimated 41 premature deaths, 273 hospital admissions and 123 ED visits because of high levels of air pollution between 2002 and 2017 — forcing the State to bear an estimated $97.1 million in health costs.

Business: Pioneer Credit has wasted no time in carrying through on its threat of legal action against private equity buyer Carlyle over their stalled pre-coronavirus $120 million takeover deal.

The coronavirus outbreak has potentially disrupted rising demand for sustainable, ecofriendly and charitable services from WA’s growing ranks of conscious consumers.

Exports of WA pork have resumed after a long standstill, providing relief for producers.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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