21/04/2020 - 07:01

Morning Headlines

21/04/2020 - 07:01

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Morning Headlines

Ailing Virgin's crash landing

Virgin Australia has been put into voluntary administration after the Morrison government rejected an 11th-hour appeal for a $100m grant to keep it afloat for another two weeks, as private equity firms circle the airline. The Aus

Twiggy venture ready to boost LNG import plan

The Andrew Forrest-backed LNG import venture at Port Kembla has secured NSW government approval for an increase in capacity and is pressing towards a final go-ahead despite the COVID-19 crisis and the prospect of increased gas flows from Queensland. The Fin

Stokes art gallery out, Fortescue in frame for Perth riverside site

Kerry Stokes has abandoned long-held ambitions to develop an art gallery-cum-museum to house his priceless collection of paintings and historic artefacts as part of a billion-dollar redevelopment of prime riverside land in Perth. The Fin

Miners seek assurance on fuel tax break

The mining sector is seeking assurances that it will continue to receive billions a year in diesel excise rebates as the government starts exploring options to repay debt and deficit following the coronavirus crisis. The Fin

ASIC told to monitor super fund advertising as early access begins

Treasurer Josh Frydenberg has asked the corporate watchdog to keep a close eye on communication and advertising by superannuation funds as they begin making payments to coronavirus-affected members. The Fin

$41.7 million training plan is just the job for older Aussies

Up to 50,000 additional older Australians will get a jobs lifeline with $41.7 million in Federal funding to help workers over the age of 45 get more tech savvy and change career. The West

Primewest forming group to buy Seven West headquarters

National property fund manager Primewest has revealed it is putting together a syndicate with the intention to buy the Seven West Media’s Osborne Park headquarters. The West

Pioneer tears up Carlyle contract, heads to court

Pioneer Credit has announced its intention to terminate a deal to sell the company to the Carlyle Group via a scheme of arrangement after its private equity backers threatened to call in a $141 million loan. The Fin

Forrests give $1m to COVID-19 trial

Andrew and Nicola Forrest are giving $1 million to the fight against the coronavirus, this time to support the trial of existing HIV and arthritis antiviral drugs. The Fin

Ventilator stockpile up 3000

The number of intensive care ventilators in Australia has surged, with thousands of them manufactured onshore and delivered to the federal government. The Aus

 

 

The Australian Financial Review

Page 3: Australian media companies could share in hundreds of millions of dollars of revenue under codes of conduct which will force Facebook and Google to pay publishers for the use of their stories and content.

Kerry Stokes has abandoned long-held ambitions to develop an art gallery-cum-museum to house his priceless collection of paintings and historic artefacts as part of a billion-dollar redevelopment of prime riverside land in Perth.

Andrew and Nicola Forrest are giving $1 million to the fight against the coronavirus, this time to support the trial of existing HIV and arthritis antiviral drugs.

Page 4: The mining sector is seeking assurances that it will continue to receive billions a year in diesel excise rebates as the government starts exploring options to repay debt and deficit following the coronavirus crisis.

Workers are reporting bosses are picking and choosing which eligible staff will receive JobKeeper and refusing to apply if staff don’t agree to their conditions.

Page 5: Industry Super Australia chairman Greg Combet says there is no prospect of a liquidity crisis within any of the big industry superannuation funds, including $53 billion hospitality workers’ fund Hostplus.

Treasurer Josh Frydenberg has asked the corporate watchdog to keep a close eye on communication and advertising by superannuation funds as they begin making payments to coronavirus-affected members.

Page 6: The Morrison government faces pressure from both the political right and left over its proposed smartphone app to trace the spread of the coronavirus, with civil libertarians demanding privacy and security safeguards for data.

Page 11: China has rejected Australia’s call for an inquiry into the origins of the coronavirus pandemic, as a top Australian foreign policy expert said building support among Western and Asian nations for a probe was crucial to overriding Beijing’s objections.

Page 14: Indonesia’s battle against the coronavirus has entered a dangerous new phase, with the prospect of social unrest triggered by mass unemployment and citizens unhappy at being asked to change the religious habits of a lifetime.

Page 15: Caltex Australia’s top management is under renewed pressure to deliver on its strategy to unlock value within the fuels supplier after Alimentation Couche-Tard ditched an $8.8 billion takeover proposal, dashing any lingering hopes of a rich payout for shareholders.

Page 16: Shareholders in nickel miner and processor Panoramic Resources will be wistfully remembering the days when a $300 million-plus takeover offer was on the table.

Page 18: Pioneer Credit has announced its intention to terminate a deal to sell the company to the Carlyle Group via a scheme of arrangement after its private equity backers threatened to call in a $141 million loan.

Page 20: A coalition of tech and employment companies is calling on governments to use the COVID-19 crisis as an opportunity to retrain laid-off workers in critical tech skills, as the industry emerges as the top-performing job sector during the pandemic.

Page 22: The Andrew Forrest-backed LNG import venture at Port Kembla has secured NSW government approval for an increase in capacity and is pressing towards a final go-ahead despite the COVID-19 crisis and the prospect of increased gas flows from Queensland.

Page 23: BHP is expected to confirm its flagship iron ore division remains on track to meet its full-year export target, allowing the company to capitalise on an extremely weak performance by the world’s biggest producer of the steelmaking ingredient.

 

 

The Australian

Page 1: Virgin Australia has been put into voluntary administration after the Morrison government rejected an 11th-hour appeal for a $100m grant to keep it afloat for another two weeks, as private equity firms circle the airline.

Premiers have warned that tough social-distancing measures will remain in place for at least another three weeks, despite Australia’s mainland recording just eight new cases of coronavirus on Monday.

Page 3: The number of intensive care ventilators in Australia has surged, with thousands of them manufactured onshore and delivered to the federal government.

Page 4: Fears that airfares in Australia will skyrocket as a result of Virgin Australia’s demise are not a foregone conclusion, say aviation experts.

Page 5: Australia appears to have passed its peak of coronavirus infections more than a fortnight ago, and is faring better than many other nations “by a factor of hundreds” in efforts to combat the disease.

Page 7: Australia’s bushfire crisis burnt about 7.4 million hectares of temperate forests and released 830 million tonnes of carbon dioxide into the atmosphere, an amount almost double the nation’s annual emissions from energy, industry and transportation.

Page 8: Malcolm Turnbull has brushed off any suggestion he has betrayed former colleagues and defended the disclosure of private messages and diary notes of secret discussions in his memoir, which could breach cabinet confidentiality.

Page 13: After a record 10-year bull run, super funds have suffered their worst monthly and quarterly returns since the introduction of compulsory super nearly three decades ago as the coronavirus crisis crashed through global markets in March.

The nation’s richest man, Anthony Pratt, says super funds should be more involved in helping build the export capability of the country’s manufacturing sector and has warned against a return to protectionist policies and “Fortress Australia” in response to the coronavirus pandemic.

 

 

The West Australian

Page 3: Infants who watch screens by their first birthday are more likely to show greater autism-like symptoms later in childhood, according to alarming new research.

Page 6: The head of WA’s peak mining and resources body is poised to land the first strike if governments seek to enforce a mining tax, which is not off the table amid pressure on the economy from the coronavirus crisis.

Page 7: The Swedish scientist leading his country’s controversial COVID-19 response has claimed parts of the Scandinavian nation are now on track to become immune to the virus.

Page 9: Doctors are urging parents not to risk their child becoming seriously ill by avoiding taking them to hospital or a GP surgery because of coronavirus.

Direct cash assistance for West Australian renters doing it tough and running out of money could be just around the corner.

Page 11: Up to 50,000 additional older Australians will get a jobs lifeline with $41.7 million in Federal funding to help workers over the age of 45 get more tech savvy and change career.

Page 17: The Spanish builder behind a light rail project in Sydney beset by cost blowouts and delays has won the contract for the McGowan Government’s $253 million Bayswater station upgrade.

Business: WA resources companies are set to follow Rio Tinto’s lead in expanding screening for fly-in, fly-out staff in a bid to reduce the chances of coronavirus outbreaks at their mine sites.

Treasurer Josh Frydenberg has rejected a proposed $20 million Chinese investment in rare earths player Northern Minerals, citing national interest concerns.

National property fund manager Primewest has revealed it is putting together a syndicate with the intention to buy the Seven West Media’s Osborne Park headquarters.

Nearly a quarter of Australian adults with a job are working fewer hours because of the coronavirus pandemic, a survey has found.

The State Government is pausing consultation on plans for the Fitzroy River to enable stakeholders to focus on their COVID-19 response.

In a world-first, a Perth-based biotech company is behind an alcohol and chemical-free sanitiser that has proven 99.99 per cent effective against a surrogate to the COVID-19 coronavirus.

Shares in RooLife have rocketed after the Perth-based company announced an ecommerce marketing deal with one of China’s biggest online payment services.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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