14/05/2020 - 07:04

Morning Headlines

14/05/2020 - 07:04

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Morning Headlines

Public servants may stay home

Remote working is set to become a permanent feature of public sector workplaces as staff surveys confirm strong support and leaders see an opportunity to exploit new ways of working after the coronavirus pandemic. The Fin

Seven West to get $75m for WA Newspapers HQ

Seven West Media will get a $75 million boost to pay down its debt pile following the sale and leaseback of its West Australian Newspapers headquarters in Perth. The Fin

States target Morrison on diplomatic row

Three state Labor governments have joined in slapping down the Morrison government over its worsening row with China over the coronavirus pandemic, warning that intemperate language and a lack of respect risk serious damage to vital relationships and an unnecessary trade war. The Aus

China telco push rings Pacific alarm

The state-owned China Mobile is looking to buy the biggest phone carrier in the Pacific Islands, Digicel, in a deal that has raised concerns in Canberra and opened a new front in Beijing’s battle for influence in the region. The Fin

$28bn super splurge on infrastructure

The nation’s industry superannuation funds are ready to deploy more than $28bn to worthy infrastructure and property projects as the economy starts to emerge from COVID-19 lockdown. The Aus

Sour grapes on trade a risk to local wine

WA winemaker Jeff Burch has hit out at the Federal Government, arguing it is “naive” if politicians think the local wine industry isn’t in the firing line of Canberra’s trade spat with China. The West

KKR tech play with CBA wealth arm

Global private equity firm KKR views its $1.7 billion takeover of the Colonial First State wealth business as a technology play akin to its investment in Australian accounting software company MYOB. The Fin

Canberra backs Macca’s bid to waive OT rates, change rosters

The Morrison government has backed McDonald’s controversial bid to waive overtime rates and remove set rosters for part-timers in the fast-food industry as a necessary response to the pandemic. The Fin

Government to resist overhaul of JobKeeper

The federal government is staring down calls to make wholesale changes to the $130 billion JobKeeper program, arguing that by the time key demands are met, the scheme will be due to expire. The Fin

CBA wants to cut crisis loan holidays short

Commonwealth Bank will encourage customers who can end six-month repayment holidays early to do so, as it tries to avoid being hit with a $65 billion wall of paused loans – some of which could be impaired – when repayments are scheduled to resume in October. The Fin

 

 

The Australian Financial Review

Page 1: The state-owned China Mobile is looking to buy the biggest phone carrier in the Pacific Islands, Digicel, in a deal that has raised concerns in Canberra and opened a new front in Beijing’s battle for influence in the region.

Global private equity firm KKR views its $1.7 billion takeover of the Colonial First State wealth business as a technology play akin to its investment in Australian accounting software company MYOB.

Page 2: The Morrison government has backed McDonald’s controversial bid to waive overtime rates and remove set rosters for part-timers in the fast-food industry as a necessary response to the pandemic.

Page 3: Remote working is set to become a permanent feature of public sector workplaces as staff surveys confirm strong support and leaders see an opportunity to exploit new ways of working after the coronavirus pandemic.

Page 4: The federal government is staring down calls to make wholesale changes to the $130 billion JobKeeper program, arguing that by the time key demands are met, the scheme will be due to expire.

Page 5: Health workers are far more likely to go to work when they are feverish than other workers, according to a global study of presenteeism that includes Australia.

Page 6: Trade Minister Simon Birmingham has acknowledged that China has long complained to Australia about the tariffs imposed on its steel but says that should be no excuse for Beijing’s decision to target Australian barley.

Page 13: Commonwealth Bank will encourage customers who can end six-month repayment holidays early to do so, as it tries to avoid being hit with a $65 billion wall of paused loans – some of which could be impaired – when repayments are scheduled to resume in October.

Page 15: Australia’s liquefied natural gas producers are growing in confidence about long-term prospects for the embattled industry – but only well after some horror months as the full impact of the oversupplied market and the collapse in oil prices takes hold.

Page 18: Governments should break up big multibillion-dollar infrastructure projects into smaller pieces to create more competition and reduce the risk of massive cost blowouts, says new Watpac chief executive Jean-Pol Bouharmont.

Page 19: Sigma Healthcare has suffered a first strike against its pay report at its annual meeting after concerns emerged over additional retention bonuses.

Page 20: Norway’s $US1 trillion ($1.5 trillion) sovereign wealth fund will sell down its holdings of Australian energy giant AGL and has put BHP on notice, following through on a new policy to divest major thermal coal companies.

 

 

The Australian

Page 1: One of the nation’s most powerful unions has urged the Morrison government to “hold its nerve” in defence of Australia’s sovereignty, as China targets exporters in a pressure campaign against nations supporting a global investigation into the COVID-19 pandemic.

The Queensland government plans to bid for troubled airline Virgin Australia in a bold move to try to rescue its struggling tourism industry and keep the carrier, with its thousands of jobs, flying and headquartered in Brisbane.

Page 2: The National Tertiary Education Union has agreed to help protect jobs by accepting temporary pay cuts for university staff in response to the massive budget shortfall facing universities this year.

Page 4: Employers have rejected calls to move workers off JobKeeper early if their business recovers sooner than expected, as momentum grows within the Coalition to make the $130bn scheme more targeted towards the worst affected industries.

Page 5: Three state Labor governments have joined in slapping down the Morrison government over its worsening row with China over the coronavirus pandemic, warning that intemperate language and a lack of respect risk serious damage to vital relationships and an unnecessary trade war.

Page 7: The future of the sport of equestrian, which has delivered Australia 12 Olympic medals, including six golds, is in turmoil again after former Olympian and chairwoman Ricky MacMillan resigned, becoming the third chair in 18 months to do so.

Page 13: The nation’s industry superannuation funds are ready to deploy more than $28bn to worthy infrastructure and property projects as the economy starts to emerge from COVID-19 lockdown.

Page 15: Coca-Cola Amatil chief executive Alison Watkins says the Australian consumer is better placed to emerge from the coronavirus crisis with confidence to spend because of the government’s success in stemming the pandemic, compared to consumers elsewhere in the world.

Page 18: Uber Technologies is seeking to acquire Grubhub in a deal that would unite two of the biggest players in the cutthroat meal delivery business at a time when the coronavirus pandemic has sparked a surge in demand for their services.

 

 

The West Australian

Page 1: Education experts have warned it is time to return to compulsory school attendance — and that defiant parents who refuse to send their children could be doing long-term harm to their development.

Page 6: Diversifying WA’s economy should not mean a reduction in exports to China, according to trade experts who say the State is unlikely to find a new market for its massive iron ore production any time soon.

The WA Health Department is not using any of the 10 million coronavirus tests secured by mining magnate Andrew Forrest’s Minderoo Foundation from Chinese company Beijing Genomics Institute.

Page 7: WA Premier Mark McGowan has offered to help Prime Minister Scott Morrison smooth tensions between Australia and China, The West Australian can reveal.

The Federal Government is putting aside more than half a million taxpayer dollars to pay members of its newly-formed National COVID-19 Coordination Commission.

Page 9: Australia is facing a 30 per cent increase in mental health issues in children and youth over the next few years as a result of coronavirus and subsequent economic downturn, the nation’s top mental health expert says.

Page 16: A Labor member of the committee that blocked the reappointment of WA’s top corruption fighter broke down in tears in Parliament as he revealed he came close to quitting the powerful body.

Business: WA winemaker Jeff Burch has hit out at the Federal Government, arguing it is “naive” if politicians think the local wine industry isn’t in the firing line of Canberra’s trade spat with China.

WA iron ore miners have talked up their strong relationships with Chinese customers amid a diplomatic and trade dispute.

Rio Tinto boss Jean-Sebastien Jacques says the mining giant is adjusting to a “new normal” amid the global coronavirus pandemic and what he described as a “realpolitik” world.

WA agricultural land developer Alterra Limited has raised $3.1 million by selling part of its Dambadgee Springs property at Dandaragan, and will use the capital towards developing its large-scale South West avocado farm and reducing debt.

Yara International’s Burrup fertilisers plant in the Pilbara has borrowed $70 million from its Norwegian parent to support it through the next six months after a third consecutive annual loss.

WA property group Primewest has locked in a 15-year leaseback agreement with Seven West Media as part of the $75 million deal to buy the company’s Osborne Park headquarters.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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