Fast track to post-Covid freedom
Accelerated reopening of the economy, earlier easing of restrictions and larger gatherings are expected to be recommended to national cabinet within two weeks, if the trend in low daily coronavirus infection rates continues. The Aus
Lowe’s fears on red tape
Reserve Bank governor Philip Lowe has warned that excess regulation threatens to smother the dynamism of the Australian economy as it seeks to reopen from the virus shutdown, and welcomed the Morrison government’s push to encourage business and workers to co-operate on reviving productivity growth. The Fin
Bain invites Branson to join its Virgin Australia bid
Bain Capital has offered Richard Branson an equity stake in its multi-billion dollar bid for Virgin Australia, due today, to preserve the brand and rescue the stricken airline. The Fin
Get rid of 4-metre pub rules
The 4sqm rule must be scrapped in the next phase of relaxing WA’s coronavirus restrictions if more businesses are to reopen, members of the State Recovery Advisory Group say. The West
Business and mines about to take a hit
The worst is yet to come for Australian businesses, and the mining sector will not be immune, after the latest private capital expenditure data showed only a modest impact from COVID-19 on business investment. The West
Push for skills body to set course costs
Pressure is building for the National Skills Commission to take a bigger role in setting the cost of training courses after the Prime Minister pointed out that a diploma of nursing gets a $20,000 subsidy in Western Australia but only an $8000 subsidy in Queensland. The Fin
Bali floats travel bubble for Australia
Bali hotels and resorts are preparing for a government-mandated ‘‘new normal’’ they hope will include Australian tourists in the not-so-distant future. The Fin
Afterpay wary of more bank dominance
Afterpay, which can now be used to make purchases on eBay, has pushed back on consumer groups renewing calls for the buy now, pay later industry to be regulated like traditional loans. The Fin
Hungry Chinese defy Beijing’s bluster
China is importing plane loads of premium Australian seafood and beef through the Morrison government’s freight assistance program, which has locked in more than $1bn worth of produce exports to 28 international markets. The Aus
Consumer sentiment on the up
Australia’s ability to quash the coronavirus spread and begin easing restrictions means stocks catering to the needs of consumers may have already hit their nadir, according to AMP Capital Investors. The West
The Australian Financial Review
Page 1: Reserve Bank governor Philip Lowe has warned that excess regulation threatens to smother the dynamism of the Australian economy as it seeks to reopen from the virus shutdown, and welcomed the Morrison government’s push to encourage business and workers to co-operate on reviving productivity growth.
Public ownership of new gas pipelines, underwritten gas supply projects and a national gas reservation policy are being considered among measures to try to turn back the clock on east coast gas prices and fuel a manufacturing-led economic recovery.
Page 2: Bain Capital has offered Richard Branson an equity stake in its multi-billion dollar bid for Virgin Australia, due today, to preserve the brand and rescue the stricken airline.
Page 5: Pressure is building for the National Skills Commission to take a bigger role in setting the cost of training courses after the Prime Minister pointed out that a diploma of nursing gets a $20,000 subsidy in Western Australia but only an $8000 subsidy in Queensland.
Page 6: The national cabinet is set to become a permanent feature of the political landscape, but some state leaders have warned Scott Morrison that attacks on them by his ministers could threaten the new era of cooperation.
Page 8: The dominant retail union has strongly backed the approval test for agreements despite also agreeing with Australian Council of Trade Unions chief Sally McManus that employers’ concerns over the test’s strict approach ‘‘have some merits’’.
Restaurants and cafes want relaxed conditions for meal breaks and other award classifications to avoid ‘‘unintentional underpayments’’ and will push for greater flexibility with overtime to encourage chefs to practice their trade.
Page 11: The Auditor-General has rebuked the Department of Home Affairs for handing little-known security company Paladin a $532 million refugee services contract on Manus Island, saying taxpayers did not receive ‘‘value for money’’.
Page 14: Bali hotels and resorts are preparing for a government-mandated ‘‘new normal’’ they hope will include Australian tourists in the not-so-distant future.
Page 15: In 2014, when South Africa’s Woolworths Holdings splashed out $2.1 billion to buy David Jones, the listed group had glittering plans not only to grow its presence in Australia but to turn the upmarket department store into an experiential wonderland.
Page 18: Afterpay, which can now be used to make purchases on eBay, has pushed back on consumer groups renewing calls for the buy now, pay later industry to be regulated like traditional loans.
Page 22: Santos has negotiated a $US125 million ($188.8 million) cut in the up-front purchase price for ConocoPhillips’ interests in the Darwin LNG plant and gas fields off the north coast because of the oil price crash, limiting its risk amid a delay in a $US4.7 billion gas project.
Page 32: Wilson Parking is the latest company to push for a reopening of the economy, slashing the cost of parking across Australian CBDs by more than 50 per cent to help drive employees’ return to city office towers without the risks of public transport.
The Australian
Page 1: Accelerated reopening of the economy, earlier easing of restrictions and larger gatherings are expected to be recommended to national cabinet within two weeks, if the trend in low daily coronavirus infection rates continues.
Federal Labor’s support remains at fatally low levels in the resource states of Queensland and Western Australia, where both state Labor parties will be forced to defend government within the next 12 months in the first real tests of incumbency in the COVID crisis.
Page 5: Clive Palmer’s efforts to overturn Western Australia’s border closure are off to a rocky start after the High Court ordered the billionaire’s legal team to amend its case.
Page 6: China is importing plane loads of premium Australian seafood and beef through the Morrison government’s freight assistance program, which has locked in more than $1bn worth of produce exports to 28 international markets.
Page 8: Australia is halfway towards meeting its 2030 Paris agreement target for greenhouse gas emissions, according to new figures to be released on Friday.
Page 13: A new $1bn-plus NRL broadcast rights deal has been finalised that sees Fox Sports commit to the code for another eight years but has undercut Nine’s planned cost savings from this year’s shortened season.
Page 17: Bain Capital’s Mike Murphy says there should be more public to private transactions in the Australian capital markets, as he revealed Bain considered a privatisation plan for online travel booking operator Webjet late last year before buying shares in the company.
Page 22: Pressure on Cricket Australia increased on Thursday as West Australian officials hit out at a head office that is fighting fires on all fronts.
The West Australian
Page 4: WA Liberal MP Andrew Hastie has been accused of treating foreign policy matters “inappropriately” by Labor leader Anthony Albanese after he used an online petition calling for a “continued push back” against China to solicit political donations.
Page 5: Support for the Coalition has slipped with the Morrison Government now 50-50 with Labor on a two-party preferred basis, according to the latest Newspoll.
Page 7: Childcare operators will know within days whether the Morrison Government will switch off the emergency fee-free system by June 30.
Page 8: The 4sqm rule must be scrapped in the next phase of relaxing WA’s coronavirus restrictions if more businesses are to reopen, members of the State Recovery Advisory Group say.
Page 15: Ken Wyatt says a referendum on Indigenous constitutional recognition will “probably not” happen in this term of parliament due to the “substantial impact of COVID-19” but has vowed not to let the issue be “consigned to the history books”.
Business: Shareholders of US oil giant Chevron, the parent of Chevron Australia, are calling on the company to disclose lobbying efforts and ensure they support international goals to combat global warming in a rare move against its board.
Australia’s ability to quash the coronavirus spread and begin easing restrictions means stocks catering to the needs of consumers may have already hit their nadir, according to AMP Capital Investors.
A prominent WA tourism business is urging the State Government to provide clarity about lifting border restrictions amid increasing concern about the survival of the industry.
The exporter responsible for about 56,000 sheep stranded at a Baldivis feedlot — which were due to depart aboard the coronavirus-affected Al Kuwait vessel this week — expects it could be about two weeks until the sheep can be shipped.
More nonstop Qantas flights from Perth to London and Europe could emerge as passengers flock to that option to avoid stopping in South-East Asia in the new COVID-19 world.
Boeing has resumed producing its beleaguered 737 Max aircraft, ending a four-month shutdown, as the US plane maker works with regulators to end a global grounding that has hurt sales and damaged its reputation.
The worst is yet to come for Australian businesses, and the mining sector will not be immune, after the latest private capital expenditure data showed only a modest impact from COVID-19 on business investment.
News Corp has confirmed that more than 100 community and regional mastheads will become digital-only or close altogether as part of a massive shake-up that is expected to put hundreds of jobs on the line.
Chinese imports of Australian barley are continuing to filter through despite Beijing’s hefty tariffs on shipments, a move that could push up beer prices in the world’s biggest consumer of the beverage.
