30/04/2020 - 06:49

Morning Headlines

30/04/2020 - 06:49

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Morning Headlines

PM pushes for earlier reopening

Scott Morrison and state and territory leaders will soon discuss a wide-scale lifting of COVID-19 restrictions, including the resumption of community and professional sport, and the reopening of cafes and restaurants, news of which has buoyed the sharemarket. The Fin

Home reno breaks up cycle

West Australians have opened their wallets to get their homes in order during the pandemic, new data reveals, but spending on services shut by COVID-19 measures have plunged. The West

ANZ takes a billion-dollar stab in dark

ANZ Banking Group will join rivals National Australia Bank and Westpac in taking a billion-dollar guess at the likely cost of COVID-19 when it delivers first-half results this morning. The Fin

Ho’s Crown exit deals Blackstone into game

The dramatic end to Lawrence Ho’s investment in Crown Resorts has opened the door for US investment giant Blackstone to dust off previously abandoned plans to split Crown’s valuable property assets into a separate vehicle worth as much as $4 billion. The Fin

Knocking back Huawei is net loss for all Australians

The Federal Government should overturn its decision to ban Chinese telco Huawei from Australia’s 5G network and accelerate its timeline for the technology to fill critical gaps in the National Broadband Network, Kerry Stokes says. The West

Wiggles MD hands in keys amid ‘organisational change’

Children’s entertainment giants The Wiggles are searching for a new driver of their Big Red Car, after long-serving managing director Paul Field quietly exited the company. The Fin

Jobs to go as Bauer halts mags

Bauer Media will temporarily suspend publishing some of its magazines, understood to include Harper’s Bazaar, Elle, OK! and NW, as part of restructuring plans, as the coronavirus crisis wipes out its advertising revenue. The Aus

Covid crasher: Twiggy's ambush

One of Australia’s richest man has blindsided the Morrison government by helping a Chinese diplomat gatecrash a ministerial press conference at the height of Australia’s most serious rift with Beijing in decades. The Aus

South32 cuts costs but upbeat on future production

Perth-based diversified miner South32 believes the company can remain strong as it rides out the COVID-19 pandemic on the back of China’s economic recovery. The West

Call to remove parking levy in Perth city

Parking Australia has called on the WA Government to suspend its Perth parking levy to cut costs to customers by up to 25 per cent. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison and state and territory leaders will soon discuss a wide-scale lifting of COVID-19 restrictions, including the resumption of community and professional sport, and the reopening of cafes and restaurants, news of which has buoyed the sharemarket.

The dramatic end to Lawrence Ho’s investment in Crown Resorts has opened the door for US investment giant Blackstone to dust off previously abandoned plans to split Crown’s valuable property assets into a separate vehicle worth as much as $4 billion.

Page 2: Children’s entertainment giants The Wiggles are searching for a new driver of their Big Red Car, after long-serving managing director Paul Field quietly exited the company.

Page 3: Global biotech CSL can add having the country’s best value board to its list of accolades, a new study has found.

Page 4: Westpac chief economist Bill Evans has warned the Morrison government to resist any temptation to cut immigration in response to a spike in the jobless rate.

Page 6: WA Premier Mark McGowan said parents of children in government schools had obviously chosen in large numbers to take the face-to-face option and in one school attendance by year 12 students had hit 88 per cent.

Page 8: A growing proportion of Australians expect the economic effects of COVID-19 to last longer than 12 months, with more people reporting financial stress in the past three weeks.

Page 9: Unions are pushing to increase the pay of tens of thousands of disability workers by $5 an hour to compensate them for risks in assisting clients suspected of having the coronavirus.

Page 12: ANZ Banking Group will join rivals National Australia Bank and Westpac in taking a billion-dollar guess at the likely cost of COVID-19 when it delivers first-half results this morning.

Page 14: Speculation of a challenge to Deloitte’s role as the administrator of Virgin Australia appears dead in the water, as several creditors stand by the firm and a viable objection is yet to surface.

Page 18: Ailing car dealership group AP Eagers has reluctantly agreed to a $25 million drop in the price tag to enable the sale of its refrigerated logistics business to private equity group Anchorage Capital to proceed.

 

 

The Australian

Page 1: The interest bill on the debt held by the states and territories will soar by $1.6bn a year as they borrow heavily to beat the COVID-19 virus and double their net debt loads.

One of Australia’s richest man has blindsided the Morrison government by helping a Chinese diplomat gatecrash a ministerial press conference at the height of Australia’s most serious rift with Beijing in decades.

Page 5: An Australian vaccine for COVID-19 could be ready by September, dramatically advancing the timeline to contain the coronavirus and return life to normal.

Page 13: Coles chief executive Steven Cain will “double down” on his long-term strategy to ratchet up the proportion of his sales derived from private label groceries as the supermarket braces for the economic impact of the pandemic that is likely to see households tighten their spending.

Page 15: Bauer Media will temporarily suspend publishing some of its magazines, understood to include Harper’s Bazaar, Elle, OK! and NW, as part of restructuring plans, as the coronavirus crisis wipes out its advertising revenue.

Page 16: Mineral sands producer Iluka Resources will cut zircon output due to market uncertainty from COVID-19, with the miner taking a hit from earlier shutdowns of China’s ceramic industry.

 

 

The West Australian

Page 5: The McGowan Government is preparing a dramatic escalation in COVID-19 testing — including widespread random screening — with plans for as many as 6000 swabs to be taken a day.

Page 6: Business magnate Kerry Stokes has called for Scott Morrison to mend relations with China, warning that if Beijing’s anger is not quelled it could have catastrophic consequences for the economy and send the value of the Aussie dollar spiralling to an all-time low.

The Federal Government should overturn its decision to ban Chinese telco Huawei from Australia’s 5G network and accelerate its timeline for the technology to fill critical gaps in the National Broadband Network, Kerry Stokes says.

Page 8: Public schools have been flooded with students at the start of Term 2, with some recording attendance of 100 per cent.

Page 9: A Balcatta-based company which makes coronavirus testing kits is one of dozens of WA businesses to share in a $50 million injection of Federal funding into the manufacturing industry.

Page 17: Satellite imagery of recent movements of luxury boats used by North Korean leader Kim Jong Un provide further indications he has been at the coastal resort, experts claim.

Business: West Australians have opened their wallets to get their homes in order during the pandemic, new data reveals, but spending on services shut by COVID-19 measures have plunged.

The impact of COVID-19 on the retail industry is resulting in a “fundamental structural shift” in consumer sentiment, according to leading retail experts.

Virgin Australia’s creditors will meet today but administrators are not expected to reveal the potential suitors circling the failed airline.

Perth-based diversified miner South32 believes the company can remain strong as it rides out the COVID-19 pandemic on the back of China’s economic recovery.

Australia Post is putting hundreds of posties in vans, hiring an extra 600 casuals and bringing 15 more processing facilities online to handle a near doubling of parcel traffic over the past month as virus-isolated consumers shop online.

Boeing is chasing a multibillion-dollar bond issue with investment banks to keep it flying as it moves to cull 30 per cent of its workforce.

Google has reported its weakest revenue growth in nearly five years in the first quarter as the pandemic-driven recession began to shrivel its advertising sales.

Parking Australia has called on the WA Government to suspend its Perth parking levy to cut costs to customers by up to 25 per cent.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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