13/05/2020 - 06:53

Morning Headlines

13/05/2020 - 06:53

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Morning Headlines

China asked to explain beef curbs

Trade Minister Simon Birmingham is seeking urgent talks with his Chinese counterpart over snap restrictions imposed by Beijing on Australian beef yesterday, as farmers feared proposed duties on barley could be extended to wine or seafood. The Fin

Three bidders lead first leg of Virgin race

Brookfield, BGH Capital and Bain Capital are favourites to lead the final group of bidders into the next stage of the race to buy Virgin Australia as Friday’s deadline for initial offers approaches, sources close to the bidding say. The Fin

Red tape takes a hit

Two longstanding bugbears of WA business — complicated government procurement rules and tortuous environmental assessments — are being tackled in a twin blitz on red tape. The West

Some stores will never reopen: Lew

Billionaire Solomon Lew believes many retailers will never reopen after the forced hibernation caused by the coronavirus pandemic, leaving many shopping malls with empty spaces and once popular food halls deserted. The Aus

Porter to consider EBA change limit

The Morrison government will consider limiting any changes to enterprise agreements in response to the coronavirus to just 12 months as part of a deal to save controversial workplace regulation. The Fin

Don’t expect V-shaped economic revival: BHP

BHP chief executive Mike Henry has warned that the global economy will not recover quickly from the coronavirus and says his signature industrial relations reform has allowed the company to respond ‘‘nimbly’’ to the challenges thrown up by the pandemic. The Fin

NAB survey paints a picture of worry

Business conditions have taken a beating in WA, with the latest National Australia Bank survey revealing the State had suffered the second-worst plunge in the country. The West

Trump claims victory over virus

Several US states and some of its biggest manufacturing companies are restarting operations even as the nation’s death toll nears 80,000 and the White House battles to control infections on its own turf. The Fin

16,000 research jobs set to fall victim to virus

The COVID-19 pandemic will decimate Australia’s research workforce with up to 16,000 researchers likely to cease work this year, according to analysis carried out by Australia’s top science bodies at the request of the federal government’s recovery co-ordinator, Nev Power. The Aus

Ivo loses clearing stoush

Paul Letari’s Ivo Nominees faces fines of $160,000 plus a legal costs bill after the WA Court of Appeal reinstated a conviction on two charges laid by Murray Shire in 2016. The West

 

 

The Australian Financial Review

Page 1: Trade Minister Simon Birmingham is seeking urgent talks with his Chinese counterpart over snap restrictions imposed by Beijing on Australian beef yesterday, as farmers feared proposed duties on barley could be extended to wine or seafood.

Page 2: Australian executives are more pessimistic about the transition to a net zero emissions economy than their global counterparts.

Page 3: The head of the Fair Work Commission has said the minimum wage panel cannot delay its decision this year, despite facing a ‘‘higher degree’’ of economic uncertainty because of the pandemic.

Page 4: The Morrison government will consider limiting any changes to enterprise agreements in response to the coronavirus to just 12 months as part of a deal to save controversial workplace regulation.

Page 5: Business confidence rebounded from a point below the lowest level of the 1990s recession, while Treasury forecasts a further hit to conditions with an 18 per cent fall in business investment expected this quarter.

BHP chief executive Mike Henry has warned that the global economy will not recover quickly from the coronavirus and says his signature industrial relations reform has allowed the company to respond ‘‘nimbly’’ to the challenges thrown up by the pandemic.

Page 6: Close to 100,000 superannuation accounts have been completely drained of savings during the government’s $30 billion early access program, which is likely to result in administration fee increases across the retirement savings system.

Page 7: The case for including loss of smell and taste as a predictive symptom for COVID-19 is building, with a new study showing 65 per cent of people who tested positive for the disease reported the symptom.

Page 10: A Labor MP wants online giant Amazon dumped as the data host for Australia’s COVID-19 smartphone application, challenging the Morrison government to use the contract to support accredited local firms.

Page 12: Several US states and some of its biggest manufacturing companies are restarting operations even as the nation’s death toll nears 80,000 and the White House battles to control infections on its own turf.

Page 13: Brookfield, BGH Capital and Bain Capital are favourites to lead the final group of bidders into the next stage of the race to buy Virgin Australia as Friday’s deadline for initial offers approaches, sources close to the bidding say.

Building products group CSR is bracing for a sharper deterioration in demand in three to six months’ time as the economic turmoil from the pandemic flows through to weaker activity among home builders.

Page 14: Hot on the heels of a $700 million property sale to investors led by Charter Hall, Street Talk can reveal Telstra is seeking a buyer for its giant data centre complex in Melbourne.

Page 15: Amcor chief executive Ron Delia says the spike in at-home consumption and pantry hoarding in North America has been a plus for the group in the coronavirus pandemic because 98 per cent of its packaging customers are in defensive consumer staples in food, beverages and healthcare.

The print editions of a swathe of News Corp Australia’s regional and community publications are likely to become digital-only.

Page 16: The number of credit cards in the market has fallen by 7 per cent over the past year, Reserve Bank of Australia data shows, as more customers turn to buy now, pay later services as the COVID-19 crisis unfolds.

 

 

The Australian

Page 1: Scott Morrison will appoint the country’s first deputy chief medical officer for mental health to steer a new pandemic plan for a feared second wave of the COVID-19 crisis.

Page 2: Josh Frydenberg has warned that the ability of the Australian economy to rebound from the COVID-19 shock will depend on continued adherence to social distancing advice and the rate at which states will be able to emerge from lockdowns.

Page 4: Australia’s trade promotion body is conducting an audit of its website after it praised organisations with Chinese Communist Party links for sending tonnes of medical supplies to China as the Morrison government scrambled to prepare for the pandemic here.

Page 13: Billionaire Solomon Lew believes many retailers will never reopen after the forced hibernation caused by the coronavirus pandemic, leaving many shopping malls with empty spaces and once popular food halls deserted.

Companies worth a combined $58bn are lining up for the federal government’s $130bn JobKeeper wage subsidy, forming the biggest corporate welfare gold rush in Australia’s history.

Page 14: The West Australian-based Buckeridge Group of Companies is now believed to be looking to sell down only part of its sprawling building materials empire, according to sources.

Page 21: The COVID-19 pandemic will decimate Australia’s research workforce with up to 16,000 researchers likely to cease work this year, according to analysis carried out by Australia’s top science bodies at the request of the federal government’s recovery co-ordinator, Nev Power.

 

 

The West Australian

Page 1: West Australians are at risk of becoming “collateral damage” in the rising Federal political tensions with China, warns Mark McGowan.

Page 7: Privacy amendments of “unprecedented strength” to protect Australians using the COVIDSafe app passed the House of Representatives last night.

Sewage could be tested for coronavirus to help determine whether the disease is quietly “lurking” in WA.

Page 8: Japan’s ambassador to Australia has backed an international inquiry into the origins of coronavirus — becoming one of the first nations in our region to publicly swing behind Scott Morrison’s call for a global probe.

Page 14: The average adult will spend the equivalent of 34 years of their lives staring at screens.

Page 18: A flotation therapy business co-owned by West Coast star Josh Kennedy has gone up in flames in a “freak” accident causing about $100,000 damage.

Researchers have developed a brain cancer drug that can cut through the brain’s protective coating — the blood-brain barrier — in a major breakthrough that could save thousands of lives.

Business: Two longstanding bugbears of WA business — complicated government procurement rules and tortuous environmental assessments — are being tackled in a twin blitz on red tape.

The owners of hipster cocktail bar Choo Choo’s have waved the white flag after failing to sell their Brookfield Place venture.

Paul Letari’s Ivo Nominees faces fines of $160,000 plus a legal costs bill after the WA Court of Appeal reinstated a conviction on two charges laid by Murray Shire in 2016.

Business conditions have taken a beating in WA, with the latest National Australia Bank survey revealing the State had suffered the second-worst plunge in the country.

Qatar Airways chief Akbar Al Baker says that COVID-19 is going to reshape travel as businesses get used to conducting online conference calls.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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