24/04/2020 - 06:50

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24/04/2020 - 06:50

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Iron ore leads export surge

West Australian iron ore has proved all but immune to the impact of COVID-19, combining with a weak Aussie dollar to help drive a 29 per cent surge in the value of Australian exports last month. The West

Alcoa and Alumina shelve expansion plans

Alcoa and its Australian partner have signalled that they will not approve hundreds of millions of dollars worth of refinery expansions this year, as investment plans in the resources sector get taken off the table. The Fin

Premier in private school war

The head of WA’s Catholic schools sector has hit back at accusations by Mark McGowan that parents are entitled to demand a discount on their private school fees because their approach to Term 2 ignores the latest health advice on coronavirus. The West

Green tape fast-track

National Cabinet will be asked to fast-track a major 10-year review of Australia’s environmental regulations as a way to boost the nation’s economic revival and cut green tape post the COVID-19 pandemic. The West

Qantas chair: Let’s get back to work

It should not be at ‘‘any cost’’, but one of Australia’s most powerful company chairman, Richard Goyder, has urged federal and state governments to get on with reopening the economy as the COVID-19 infection rate grinds lower. The Fin

Crossbench open to crisis growth plan

Key Senate crossbench parties say they are prepared to negotiate in good faith on tax and industrial relations reforms, saying all policy options must be on the table given the scale of the economic emergency the nation faces. The Fin

Glitches delay early access super scheme

A series of technical hiccups have stifled some of Australia’s biggest superannuation funds from making early release payments to savers, after the Australian Taxation Office program failed to deliver data on time or sent incomplete requests. The Fin

Event closures drain $35.7b

Australia is set to lose $35.7 billion in direct expenditure over the next 12 months because of the cancellation or postponement of 96 per cent of scheduled business events due to COVID-19. The Fin

Serco hires 1500 for Centrelink, ATO rush

The Australian arm of British outsourcing company Serco is hiring an extra 1500 workers to staff call centres and healthcare facilities amid surging volumes of calls to the Australian Taxation Office, Centrelink, Medicare and government agencies running the JobKeeper program. The Fin

Much-loved fundraiser to go ahead despite COVID

Telethon chairman Richard Goyder has vowed that WA’s much-loved fundraising event will go ahead in some form this year, despite the widespread disruption caused by coronavirus. The West

 

 

The Australian Financial Review

Page 1: Key Senate crossbench parties say they are prepared to negotiate in good faith on tax and industrial relations reforms, saying all policy options must be on the table given the scale of the economic emergency the nation faces.

It should not be at ‘‘any cost’’, but one of Australia’s most powerful company chairman, Richard Goyder, has urged federal and state governments to get on with reopening the economy as the COVID-19 infection rate grinds lower.

Page 3: It is possible for the western half of Australia to begin to relax COVID-19 restraints earlier than states in the east but the surveillance system required to keep them safe is not yet in place, according to one of the government’s chief modellers.

Page 4: Prime Minister Scott Morrison and Treasurer Josh Frydenberg are pressing the banks to speed up loans for struggling small businesses, to cover cash flow shortages before they receive federal government wage subsidies.

Page 6: A series of technical hiccups have stifled some of Australia’s biggest superannuation funds from making early release payments to savers, after the Australian Taxation Office program failed to deliver data on time or sent incomplete requests.

Page 10: Disruptions to supply chains caused by the coronavirus now pose the biggest threat to the nation’s farmers and fishermen, the Department of Agriculture says.

Page 11: Australia is set to lose $35.7 billion in direct expenditure over the next 12 months because of the cancellation or postponement of 96 per cent of scheduled business events due to COVID-19.

Page 13: China should share the common objective to make the world safe from viruses, Prime Minister Scott Morrison says, pushing back against Beijing’s refusal to countenance an independent investigation into the origins of the coronavirus pandemic.

Page 15: Some parts of China are forcing residents returning from overseas to quarantine for up to 28 days as new coronavirus clusters spark fears the existing 14-day isolation is not long enough to prevent a second wave of infections.

Page 17: Santos chief executive Kevin Gallagher has warned of a tough ‘‘slog’’ ahead as the impact of an unprecedented meltdown in oil prices takes hold and amid predictions in the US that negative prices could reach -$US100 a barrel next month.

Page 20: Travel agencies say they have avoided a major sting with any unpaid bills after airline Virgin Australia tumbled into voluntary administration this week.

Page 21: AMP’s troubled wealth business lost at least $19.4 billion in assets under management in the first three months of 2020 as volatile financial markets added salt to the wounds of its continuing customer exodus.

Page 22: Alcoa and its Australian partner have signalled that they will not approve hundreds of millions of dollars worth of refinery expansions this year, as investment plans in the resources sector get taken off the table.

Page 23: All Radio Rentals stores will be closed and 300 jobs made redundant as the electronics leasing firm migrates online amid the coronavirus-fuelled retail downturn.

Page 24: The Australian arm of British outsourcing company Serco is hiring an extra 1500 workers to staff call centres and healthcare facilities amid surging volumes of calls to the Australian Taxation Office, Centrelink, Medicare and government agencies running the JobKeeper program.

 

 

The Australian

Page 1: Australia’s biggest banks have been stymieing business attempts to gain bridging finance for wages before the $130bn JobKeeper payments begin next month, prompting Scott Morrison to order them to be read the riot act.

Page 4: Victoria’s Chief Health Officer has conceded he would make the call to shut down Melbourne’s Formula One Grand Prix earlier if he had his time over, saying occasional mistakes and mixed messages have been inevitable given the fast-moving nature of the coronavirus pandemic.

Page 5: The federal government has raised the prospect Australia could eliminate coronavirus from many parts of the country as a biosecurity expert urges the nation’s leaders to fully stamp it out for the long-term good of the economy.

Page 6: Environment Minister Sussan Ley is set to cut green tape in time for October’s post-coronavirus federal budget, as a new report shows restrictive environmental regulations have grown 4½ times since 2000 and threaten to hamper the economic recovery.

Page 7: Donald Trump has declared that America is starting to be open for business as his Treasury Secretary Steve Mnuchin predicted the US economy could be completely reopened by late August.

Page 13: Nearly half a million Australians have rushed to access their super early as part of the federal government’s coronavirus rescue package, with the ATO approving $3.8bn in payments in just three days.

NBN Co chief executive Stephen Rue believes the coronavirus pandemic will prove to be revolutionary for the Australian economy by transforming the way people work, learn, shop and seek medical advice, but has warned of the dire consequences of believing the nation is out of the crisis.

Page 15: The supermarket price wars have punctured the profitability of one of the world’s most powerful food manufacturers, with Swiss giant Nestle’s profit in Australia collapsing by 77 per cent last year, leading the multinational to call out the high level of “promotional fatigue” in the local market.

 

 

The West Australian

Page 2: Telethon chairman Richard Goyder has vowed that WA’s much-loved fundraising event will go ahead in some form this year, despite the widespread disruption caused by coronavirus.

Page 4: Well-known disease detective Peter Gething will use his world-renowned modelling system to show how relaxing specific coronavirus restrictions will affect public health.

Page 9: John McKechnie says the Corruption and Crime Commission has been “decapitated” by a committee of MPs who blocked his reappointment as commissioner for a second time.

Page 16: The head of WA’s Catholic schools sector has hit back at accusations by Mark McGowan that parents are entitled to demand a discount on their private school fees because their approach to Term 2 ignores the latest health advice on coronavirus.

A WA medical lab has answered the call to help testing and research efforts in one of the worst virus-hit places in the world — New York City.

Australia’s richest woman Gina Rinehart is bankrolling a world-first, international coronavirus “multi-therapy” trial to the tune of $2.6 million at a Brisbane hospital.

National Cabinet will be asked to fast-track a major 10-year review of Australia’s environmental regulations as a way to boost the nation’s economic revival and cut green tape post the COVID-19 pandemic.

Business: Activity in Australia’s services sector has hit a record low with new data highlighting the COVID-19 hit to the nation’s economy.

West Australian iron ore has proved all but immune to the impact of COVID-19, combining with a weak Aussie dollar to help drive a 29 per cent surge in the value of Australian exports last month.

Evolution Mining boss Jake Klein says the gold miner could re-examine its travel policies after the COVID-19 crisis.

Wellard founder Mauro Balzarini and the ASX-listed livestock shipping company have ended their long-standing ties, through the transfer of Mr Balzarini’s 12.75 per cent share to other parties including creditors.

Businesses are already being hit by fraud just weeks into the COVID-19 shutdown and WA companies are particularly more vulnerable, according to a survey.

Coronavirus has dealt another blow to an already weak lithium market with electric vehicle sales tumbling globally, according to Galaxy Resources boss Simon Hay.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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