10/06/2020 - 06:56

Morning Headlines

10/06/2020 - 06:56

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Submarine work likely to stay in SA

Major submarine maintenance work is likely to stay in Adelaide, thanks to a combination of political pressure and budgetary constraints, as the Morrison government risks the ire of Western Australia over missing out on $400 million a year of taxpayer-funded work. The Fin

Iron ore exporters flag $21b tax boost from port

A report backed by iron ore heavyweights BHP, Fortescue Metals Group and Gina Rinehart’s Roy Hill says boosting exports from Port Hedland will add $21 billion in royalties and taxes to government coffers over the next decade. The Fin

Live export spill threat

National Party MPs are threatening to destabilise the Federal Government and possibly bring on a leadership spill if Scott Morrison appeals against a court ruling against banning live cattle exports. The West

FMG faces heritage challenge

WA’s ageing Aboriginal Heritage Act is facing another test with a decision pending over Fortescue Metals Group’s proposed $US287 million ($414m) Queens mine in the Pilbara. The West

PM readies to withdraw supports

Treasurer Josh Frydenberg has declared the next election to be a contest over the role of government as he and Scott Morrison warned Coalition MPs to brace for difficult decisions as they start to pare back the billions in financial assistance and stimulus measures. The Fin

Pressure grows for trans-Tasman travel bubble

Travellers and tourism operators keen to take advantage of a trans-Tasman travel bubble have jumped on New Zealand’s move to end all coronavirus restrictions, pushing plans for a speedy start to flights. The Fin

Axe swings at News Corp, ABC

Hundreds of jobs in journalism are going after News Corp and the ABC announced significant cuts as they reshape their businesses towards lower costs bases. The Fin

Houston has no problem for WA’s DUG as it gets ready to list

The company behind the fast-growing WA supercomputer operator DownUnder GeoSolutions is ready to push the button on a share market float after rounding out its board with two high-profile local appointments. The West

Protests cost economy $1bn

Black Lives Matter protests are expected to delay the easing of COVID-19 restrictions by at least a week, potentially costing the economy more than $1bn and preventing tens of thousands of people getting back to work. The Aus

WA Premier extends home build bonus to FIFOs

Fly-in, fly-out workers based in the Eastern States will be encouraged to pull up stumps and permanently relocate to WA as part of a new incentive scheme by the State Government. The West

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg has declared the next election to be a contest over the role of government as he and Scott Morrison warned Coalition MPs to brace for difficult decisions as they start to pare back the billions in financial assistance and stimulus measures.

Page 2: A report backed by iron ore heavyweights BHP, Fortescue Metals Group and Gina Rinehart’s Roy Hill says boosting exports from Port Hedland will add $21 billion in royalties and taxes to government coffers over the next decade.

Page 3: More women have turned to alcohol than men during the COVID-19 crisis, according to a new survey from the Australian National University.

Page 4: A strong bounce in business conditions and an upbeat economic assessment from Treasury secretary Steven Kennedy signal a faster recovery and lower jobless rate than initially expected by Treasury.

Page 5: Travellers and tourism operators keen to take advantage of a trans-Tasman travel bubble have jumped on New Zealand’s move to end all coronavirus restrictions, pushing plans for a speedy start to flights.

Hundreds of jobs in journalism are going after News Corp and the ABC announced significant cuts as they reshape their businesses towards lower costs bases.

Page 6: Horizon Oil is refusing to release an internal report that it claims clears the company of breaching foreign bribery laws, saying the document is subject to legal privilege.

Page 7: Unions say workers have the right to refuse to return to an unsafe office, as lawyers say it’s a grey area and Westpac begins a back-to-the-office trial involving 500 staff from today.

Page 9: Major submarine maintenance work is likely to stay in Adelaide, thanks to a combination of political pressure and budgetary constraints, as the Morrison government risks the ire of Western Australia over missing out on $400 million a year of taxpayer-funded work.

Page 10: Chinese telco giant Huawei has launched a media campaign to salvage its participation in Britain’s 5G mobile network, as signs grow of a hardening position against Beijing at the top of Prime Minister Boris Johnson’s government.

Page 13: Wesfarmers is ramping up investment in e-commerce to capitalise on a surge in online shopping across its retail businesses, including Bunnings, Officeworks and Kmart, during the coronavirus pandemic.

Page 15: Childcare giant G8 Education hopes a new government pandemic package will temporarily ease cost pressures.

Page 16: Domino’s Pizza Enterprises says carryout orders are starting to grow as trading restrictions because of the coronavirus pandemic ease and stores reopen.

Lion has emerged as the latest company to be hit by a cyber attack, with the beverages giant forced to shut down its IT systems yesterday.

Page 17: Banks cautiously support the extension of the consumer data right to allow non-banks to offer some bank-like services but warn it must be accompanied by stronger laws and protections to limit the risk of creating ‘‘digital shadow banks’’.

 

 

The Australian

Page 1: Black Lives Matter protests are expected to delay the easing of COVID-19 restrictions by at least a week, potentially costing the economy more than $1bn and preventing tens of thousands of people getting back to work.

Page 2: Reconciliation Australia has kicked out miner Rio Tinto from its most coveted corporate circle in a humiliating public rebuke over the destruction of the Pilbara’s ancient Juukan Gorge.

Page 5: State health detectives have used the COVIDSafe app to find the contacts of a maximum of 27 coronavirus patients, despite 600 new cases since the mobile software was launched in April.

Page 6: Nationals MPs have urged Scott Morrison not to appeal against the Federal Court’s ruling that the 2011 live cattle export ban exceeded the legal authority of former agriculture minister Joe Ludwig.

Page 9: America’s mass protest movement is calling for radical reforms to slash police budgets and even disband entire forces in moves designed to restore confidence in law enforcement.

Page 13: Global law firm Ashurst has reopened its Chinese and Perth offices, with some starting back in Sydney next week and Brisbane shortly, but in a month’s time he expects 85 per cent of staff to be working from home.

Page 14: Only days after BGH Capital left the contest to buy Virgin Australia its headquarters remain a hive of activity, with healthcare and wealth management assets said to be in the crosshairs of the private equity firm.

Page 15: The fate of $2bn worth of unsecured Virgin Australia bonds could affect public confidence in the emerging corporate bond market in Australia, Steven Wright, a Brisbane-based director of stockbroker Morgans, warned yesterday.

Billions of dollars have been leached from Australian super funds as early withdrawal requests approach two million.

Page 21: Australia has “a significant window of opportunity” to pull out of the COVID-19 downturn in international education ahead of its main competitors due to the turmoil in the US and the continuing crisis in Britain, according to Navitas chief executive Scott Jones.

 

 

The West Australian

Page 3: A new class of property development would be created to cater for an impending “silver tsunami” of retirees under a post-COVID recovery plan put to the State Government.

Page 4: Australia’s $32 billion international student market has been delivered a blow after China told its students they are at risk of racism if they return to Australia.

Page 12: Kalbarri National Park’s long-awaited Skywalk will open on Friday.

Page 16: National Party MPs are threatening to destabilise the Federal Government and possibly bring on a leadership spill if Scott Morrison appeals against a court ruling against banning live cattle exports.

Page 19: Mark McGowan has urged people not to attend a Black Lives Matter protest in Perth after previously saying calls by authorities against mass gatherings tended to have the opposite effect.

Business: WA’s ageing Aboriginal Heritage Act is facing another test with a decision pending over Fortescue Metals Group’s proposed $US287 million ($414m) Queens mine in the Pilbara.

WA business owners have argued that the Federal Government’s move to extend the instant asset write-off scheme will not have the impact forecast, with companies wary to “splash the cash”.

The company behind the fast-growing WA supercomputer operator DownUnder GeoSolutions is ready to push the button on a share market float after rounding out its board with two high-profile local appointments.

WA travel agents are calling for targeted support after being excluded from major COVID-19 assistance packages.

Australia’s retail sector should consider a tech upgrade to survive declining bricks-and-mortar sales, with WA said to be well positioned to benefit most from the change.

Sandfire Resources is facing yet another potential delay with its Black Butte copper project in Montana after a legal challenge to its regulatory approval.

Fly-in, fly-out workers based in the Eastern States will be encouraged to pull up stumps and permanently relocate to WA as part of a new incentive scheme by the State Government.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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