03/06/2020 - 07:07

Morning Headlines

03/06/2020 - 07:07

Bookmark

Upgrade your subscription to use this feature.
Morning Headlines

Sick workers control Brazil’s iron ore output

The Brazilian company at the centre of the iron ore price rally says its mines are running on minimum staff levels to prevent the spread of the coronavirus among its workforce, as its licence to operate comes under extreme pressure from Brazilian regulators. The Fin

Universities on brink of ground zero

Education Minister Dan Tehan will stare down universities pleading for urgent government support, as vice-chancellors warn that Australia’s research capacity will be devastated if they don’t secure additional funding. The Aus

$25,000 handouts to fix your kitchen or rebuild the home

Australians will get handouts of about $25,000 to renovate or build a new home as part of a construction cash splash by the Federal Government designed to supercharge the economy and keep tradies in jobs. The West

Stokes raid turns up heat on Boral board

The Kerry Stokes-controlled Seven Group Holdings is expected to hold talks with Boral’s board after snapping up a 10 per cent stake in the building materials giant, potentially strengthening a push by investors for a strategic overhaul at the company. The Aus

Woolworths hands $57m in shares to staff

Woolworths will emerge with the largest number of employee shareholders in Australia after rewarding at least 100,000 staff with shares worth more than $50 million. The Fin

Viral punt sees a rise in copper

Industrial bellwether commodity copper has surged to a near three-month high as investors bet on a quick global economic recovery from the coronavirus pandemic. The West

Rain brings hope of a bumper grain harvest

Farmers are heading for a bumper 26 million tonne wheat crop after widespread rain and a massive increase in planting. The Fin

Cyrus, Bain make final Virgin cut

Virgin Australia bidders have been narrowed down to just two, US funds Bain Capital and Cyrus Capital Partners, after administrators Deloitte spent four days assessing five offers for the failed airline and knocked out Ben Gray’s BGH Capital in an upset move. The Fin

Australian cruise lines rule the waves

As the nation’s largest Australian-owned expedition cruising company gears up to resume operations after August, some of the foreign ships favoured by the local market are lobbying to join our cruise bubble. The Fin

Federal Court invalidates Labor’s live export law, opens way to damages

The Federal Court has found former agriculture minister Joe Ludwig acted “recklessly indifferent” when he banned live exports in 2011, and the Northern Territory’s Brett Cattle Company is entitled to “substantial damages”. The West

 

 

The Australian Financial Review

Page 1: Virgin Australia bidders have been narrowed down to just two, US funds Bain Capital and Cyrus Capital Partners, after administrators Deloitte spent four days assessing five offers for the failed airline and knocked out Ben Gray’s BGH Capital in an upset move.

Donald Trump has been slammed for a ‘‘horrifying use of presidential power’’ after ordering police to disperse lawful protesters with tear gas and rubber bullets so he could stage photos of himself outside one of America’s most venerated churches across from the White House in Washington.

Page 2: Builders have warned the construction union’s new NSW agreement threatens to undermine the post-pandemic recovery by driving up wage costs by 25 per cent when jobs are under threat and pay is being cut.

Page 3: Billions of dollars held by mum and dad investors in retail and self-managed superannuation funds could be tapped for major greenfield projects such as the new airport at Badgerys Creek under a plan put forward by the Financial Services Council.

As the nation’s largest Australian-owned expedition cruising company gears up to resume operations after August, some of the foreign ships favoured by the local market are lobbying to join our cruise bubble.

Low humidity in the Australian winter has emerged as an important factor in the potential spread of COVID-19 over the next three months.

Page 4: The federal government’s housing stimulus package faces stiff headwinds even before it is released, with Labor and the Greens criticising it for ignoring social housing.

Page 5: Scott Morrison has accepted an invitation to join an expanded G7 summit in the United States in September, putting Australia in an awkward position with other key allies who oppose President Donald Trump also inviting Russia to the gathering.

Page 6: The Reserve Bank will have to consider more policy options to boost growth and counter a strong currency, say economists, even as the central bank’s decision to hold the cash rate was accompanied by a more upbeat tone.

Page 9: Farmers are heading for a bumper 26 million tonne wheat crop after widespread rain and a massive increase in planting.

The Coalition government is weighing up its duty to taxpayers and its rural constituents as it considers whether to appeal a court decision ruling Labor’s 2011 live export ban invalid.

Page 13: The Brazilian company at the centre of the iron ore price rally says its mines are running on minimum staff levels to prevent the spread of the coronavirus among its workforce, as its licence to operate comes under extreme pressure from Brazilian regulators.

Page 15: Woolworths will emerge with the largest number of employee shareholders in Australia after rewarding at least 100,000 staff with shares worth more than $50 million.

Page 17: Zip Co shares have surged on its expansion into the United States, after the lender announced the $400 million acquisition of New York-based buy now, pay later player QuadPay in an all-scrip deal that will boost its customers to 3.5 million.

Page 29: As the end of last month approached, retail landlords around the country had collected little more than half the month’s rent from their tenants, highlighting the deep hit to the sector due to the pandemic slowdown.

 

 

The Australian

Page 1: Education Minister Dan Tehan will stare down universities pleading for urgent government support, as vice-chancellors warn that Australia’s research capacity will be devastated if they don’t secure additional funding.

Page 2: The Reserve Bank has held out hope the economic downturn might not be as severe as feared ahead of the release of official figures expected to confirm the economy is in the first recession since the early 1990s.

Charities would lose about 200,000 of their 1.3 million jobs if COVID-19 emergency financial supports such as JobKeeper come to an end in October.

Page 3: More than 500,000 businesses say a Federal Court ruling that entitles some casuals to paid leave will deter them from hiring casual employees, while up to 123,000 businesses expect they will close.

Page 8: China has banned Hong Kong’s annual candlelight vigil to commemorate the 1989 Tiananmen Square massacre, amid concerns after Beijing said it would impose national-security laws on the city.

Page 13: The Kerry Stokes-controlled Seven Group Holdings is expected to hold talks with Boral’s board after snapping up a 10 per cent stake in the building materials giant, potentially strengthening a push by investors for a strategic overhaul at the company.

Australia’s Private Health Insurance Ombudsman has been forced to step into a funding dispute between the country’s second biggest private hospital operator, Healthscope, and a group of six smaller health insurers.

Page 15: The shopping centre industry believes it can come through its current rough patch with investors backing the $1.4bn equity raising by Vicinity Centres amid concerns there is more pain ahead for shopping centre landlords.

Telstra’s independent venture capital arm backed by US private equity heavyweight HarbourVest is expanding its investments in “gamification” technologies as the COVID-19 pandemic lockdown across the world has dramatically accelerated the transition of gaming usage into mainstream daily living.

 

 

The West Australian

Page 2: Former Australian of the Year Fiona Stanley says the success of keeping the coronavirus out of Indigenous communities has demonstrated why an official “Aboriginal voice to Parliament” must be established.

Page 4: Donald Trump has ignited further fury after threatening to turn the military on his fellow Americans as mass civil unrest continues to tear the country apart.

Page 9: A regional WA council is filling in its renovated dive pool, which was only open for five days before being shut over serious health fears.

Page 10: Former foreign minister Julie Bishop has added another title to her long list of post-politics positions, named as the new chair of Prince’s Trust Australia.

Page 11: Manjimup’s $10 million truffle industry is having a slow start this season but major producers are reporting no fears for the quality of truffles being produced.

Page 20: Australians will get handouts of about $25,000 to renovate or build a new home as part of a construction cash splash by the Federal Government designed to supercharge the economy and keep tradies in jobs.

Australia could avoid technical recession if today’s national accounts don’t send gross domestic product into negative territory.

Page 21: The Nationals WA say the State’s most senior political leaders and bureaucrats should be compelled to give evidence about the State’s coronavirus “preparedness and response”.

Page 23: A sea snail could revolutionise diabetes treatment because its insulin acts 20 times faster than the human version.

Business: The Federal Court has found former agriculture minister Joe Ludwig acted “recklessly indifferent” when he banned live exports in 2011, and the Northern Territory’s Brett Cattle Company is entitled to “substantial damages”.

Nickel explorer Legend Mining is understood to be rattling the can for $20 million for drilling at its Rockford project in the Fraser Range near Balladonia.

The Australian dollar cracked a four-month high of US68¢ last night as the Reserve Bank retained its “hold and monitor” stance on monetary policy amid growing signs of a possible earlier-than-expected economic recovery after COVID-19.

Further easing of coronavirus restrictions in WA has sparked a mini spending splurge, with figures showing consumers are opening their wallets more often than they were this time last year.

Industrial bellwether commodity copper has surged to a near three-month high as investors bet on a quick global economic recovery from the coronavirus pandemic.

Rising unemployment caused by the COVID-19 pandemic will be the biggest concern for struggling homeowners, with new data showing a bleak picture in WA prior to the onset of the crisis.

WA’s fiercely competitive advertising and production companies have banded together to help the State’s post COVID-19 recovery.

China is not expected to hit its nuclear energy target this year, but that’s unlikely to derail a broader ambition to become the planet’s chief proponent of the climate-friendly fuel by the end of the decade.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options