16/06/2020 - 06:53

Morning Headlines

16/06/2020 - 06:53

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Going, going gone: tourism falls 99.7pc

International travel to Australia collapsed in April as COVID-19 restrictions sent overseas visitor arrival numbers plunging 99.7 per cent, the largest fall on record. The Fin

Hacked: Aussie websites listed for sale on the dark web

Companies listed on the ASX, including financial services, law firms, an insurer and one adult entertainment store are among hundreds of Australian websites for sale on the dark web. The Fin

Job props won’t drive recovery

The economy will have to expand by almost 4 per cent annually for the next five years to recover from the coronavirus recession, Scott Morrison said while warning job support measures will have to make way for a pro-growth, investment agenda. The Fin

Batteries to push power use later

Peak energy demand in WA is tipped to decline and shift later into the evening as households begin adding batteries to store power generated by their rooftop solar panels. The West

Only 17 people paid rent relief

Only 0.1 per cent of the tens of millions of dollars made available to help struggling WA residential tenants pay their rent during the pandemic has been handed out. The West

Rio tries new shot at apology after staff leak

Mining giant Rio Tinto has had another crack at an apology over its destruction of ancient rock shelters in Western Australia after being embarrassed by a leaked recording of an internal meeting where staff raised concerns about the company’s response to the incident. The Fin

Barnett enters border clash

Colin Barnett warns that Australia’s relationship with China is at risk of more damage if the Federal Government backs Clive Palmer’s legal bid to pull down WA’s hard border. The West

Red tape reduction plan a ‘welcome relief’ for industry

WA business leaders have welcomed the Prime Minister’s plan to slash red tape and accelerate priority road, rail and iron ore projects, saying it will boost local jobs and efforts to repair the coronavirus-hit economy. The West

End of JobKeeper looms for small business

Optimism is outweighing pessimism among small business owners, with research showing the overwhelming majority of Australian small business owners were hopeful their business would survive the COVID-19 pandemic. The West

Big rise for Meteoric

Shares in Meteoric Resources surged after the Brazilian gold play announced a conditional deal to buy the historic Palm Springs gold project in the Kimberley. The West

 

 

The Australian Financial Review

Page 1: The economy will have to expand by almost 4 per cent annually for the next five years to recover from the coronavirus recession, Scott Morrison said while warning job support measures will have to make way for a pro-growth, investment agenda.

Commonwealth Bank chairman Catherine Livingstone’s explosive evidence to the Hayne royal commission in 2018 revealed she had aggressively challenged management over CBA’s mishandling of AUSTRAC, a failure that cost the bank a $700 million fine.

Page 3: Companies listed on the ASX, including financial services, law firms, an insurer and one adult entertainment store are among hundreds of Australian websites for sale on the dark web.

International travel to Australia collapsed in April as COVID-19 restrictions sent overseas visitor arrival numbers plunging 99.7 per cent, the largest fall on record.

The world’s largest study on testosterone suggests it may play a role in decreasing the risk of type 2 diabetes in men, following two years of treatment with the hormone.

Page 4: To scrap economically damaging taxes such as property stamp duty and payroll tax, state and territory treasurers say the federal government should dangle financial incentives such as a shake-up of the goods and services tax distribution.

Page 6: Universities have been told their priority has to be educating domestic students and they need to shake up the way they teach to provide accessible and quickly-completed qualifications so students can get into jobs.

Page 8: Australia is lobbying Japan and South Korea to become members of the voluntary trade disputes resolution group set up as an alternative to the World Trade Organisation’s sidelined appellate body.

Page 9: Former market darling GetSwift raised $75 million by telling investors it had secured lucrative contracts with Amazon and Commonwealth Bank when it had only signed them up for 90-day trials, a court has heard.

Page 10: Foreign drafting engineers will need to be imported for Australia’s troubled future submarine program because there are none with sufficient technical knowledge working here.

Page 12: A US-based investor in rare earth mining backed by Australian money is finalising a deal with Arafura Resources to ship raw materials from the Northern Territory to Colorado for a pilot project that won a regulatory green light last week.

Page 13: Mining giant Rio Tinto has had another crack at an apology over its destruction of ancient rock shelters in Western Australia after being embarrassed by a leaked recording of an internal meeting where staff raised concerns about the company’s response to the incident.

A group of Virgin Australia’s unsecured bond and note holders, owed about $2 billion collectively by the distressed airline, has swelled to nearly 6000 members in recent weeks, making it one of the largest creditor factions by size and value.

Page 15: Super Retail Group is raising $203 million to capitalise on trends that emerged during the coronavirus crisis, including a shift to online shopping, in-home fitness, DIY car repairs and the return of the great Aussie road trip.

The bumper start to the year for Australia’s LNG exports has ground to a halt as the first signs emerge of the damping impact on gas demand from the COVID-19 pandemic that has caused lengthy delays to shipments and cargoes being sent to alternative destinations as far afield as Mexico.

Page 20: Chinese social media darling TikTok will increase its focus on Australian advertisers with the appointment of former Google and YouTube executive Lee Hunter as its first local general manager.

Page 21: CSIRO will adopt the latest artificial intelligence (AI) and digital technologies from Microsoft in ambitious projects targeting advances in areas including illegal fishing prevention, removing plastic from rivers and smarter farming.

 

 

The Australian

Page 1: Anti-corruption investigators will probe federal and Victorian Labor figures after powerbrokers plotted secretly for months to destroy factional warlord Adem Somyurek’s career.

Page 2: Spending on services such as schools and hospitals will be at risk if coronavirus support programs are not reined in, with Scott Morrison flagging the need to wind back JobKeeper and JobSeeker payments in September.

Parents might not be looking forward to having to pay childcare fees again but, for daycare centres, it cannot happen soon enough, with operators insisting they will be much better off even if they suffer a drop in enrolments.

Page 3: Elderly Australians are anxious and confused about how deeply to isolate during the COVID-19 pandemic, the nation’s leading seniors advocacy group has warned.

Page 5: Rio Tinto signed a formal agreement with Aboriginal traditional owners on a Kimberley mine that prevented the company from ever using section 18 powers to destroy significant sites.

Page 8: British politicians believe the country is winning the battle against the novel coronavirus after 36 people died from COVID-19 on Saturday — the lowest daily death figure since March 21.

Page 13: Australian shares, the dollar and bond yields hit fresh two-week lows on Monday after a second wave of coronavirus infections emerged in Beijing and Tokyo, and more US states reported a worsening case load.

BP has signalled a gloomy outlook for the global energy industry, taking a writedown of as much as $US17.5bn ($25.7bn) and warning it may leave oil and gas in the ground amid a rapid transition away from fossil fuels.

Page 16: The nation’s looming waste crisis provides a once-in-a-generation opportunity to unlock about $14bn in private investment over the next decade for waste-to-energy projects, a report says.

 

 

The West Australian

Page 6: Colin Barnett warns that Australia’s relationship with China is at risk of more damage if the Federal Government backs Clive Palmer’s legal bid to pull down WA’s hard border.

Page 7: Only 0.1 per cent of the tens of millions of dollars made available to help struggling WA residential tenants pay their rent during the pandemic has been handed out.

Page 10: Perth must be ambitious and build a world centre for Indigenous culture in the next two years as its “one big thing” to put the city on the global stage, according to a WA think tank.

Page 14: Forget the latest high-tech gadgets — jigsaw puzzles and board games are tipped to be among the top sellers as one of the State’s biggest toy sales gets under way.

Business: WA business leaders have welcomed the Prime Minister’s plan to slash red tape and accelerate priority road, rail and iron ore projects, saying it will boost local jobs and efforts to repair the coronavirus-hit economy.

Plans to ship tens of thousands of sheep to the Middle East during the northern hemisphere summer are in danger of being stalled after an eleventh hour court bid from activist group Animals Australia.

Peak energy demand in WA is tipped to decline and shift later into the evening as households begin adding batteries to store power generated by their rooftop solar panels.

Optimism is outweighing pessimism among small business owners, with research showing the overwhelming majority of Australian small business owners were hopeful their business would survive the COVID-19 pandemic.

Shares in Meteoric Resources surged after the Brazilian gold play announced a conditional deal to buy the historic Palm Springs gold project in the Kimberley.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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