17/06/2020 - 06:52

Morning Headlines

17/06/2020 - 06:52

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Morning Headlines

Fortescue zeroes in on new emissions targets

High-flying iron ore miner Fortescue Metals Group has set itself one of the industry’s most ambitious greenhouse gas reduction targets, but is refusing to budge on reporting emissions from its steel-making customers in China. The Fin

Tourism industry plea as other States open their borders

WA is at risk of losing valuable interstate visitors if it lags behind other States in releasing a roadmap that sets out when the hard border will be torn down, the “devastated” tourism industry warns. The West

Colonial ale deemed beyond the pale

Australian-owned independent craft brewer Colonial Brewing Co has become the latest victim of a spiralling cancel culture, with anti-racism activists calling for the brand to be removed from shelves for “creating nostalgia” for a time when indigenous people “were killed en masse”. The Aus

Job market crawls off the floor

The worst appears to be over in the job market with Tax Office payroll data showing about 124,000 jobs were added in May, in the first tentative signs of economic recovery. The Fin

Perth Mint severs ties with small miners

Gold Corporation chairman Sam Walsh said Perth Mint has suspended its relationship with players dealing with subsistence miners after revelations of links to a Papua New Guinea killer. The West

Directors get ID ‘for life’ to fight phoenixing

All current and new company directors will need to verify their identity and get a director’s number for life under new anti-phoenixing laws passed by federal Parliament. The Fin

Aboriginal heritage concerns may force Mining Act change

Western Australia will need to amend its mining laws for new Aboriginal heritage protection legislation to work effectively, according to a key broker of deals between traditional owners and companies like Rio Tinto. The Fin

Delays torpedo confidence in subs program

The nation’s troubled Future Submarine program is running at least 14 months behind schedule in completing a key milestone, intensifying pressure on the government to intervene to restore public confidence in the $90bn project. The Aus

Cruising for a $3.8bn bruising

If the suspension of the $5bn cruise industry continues into the summer high season of October and November it could result in further losses as high as $3.8bn and put another 13,000 jobs at risk. The Aus

Parents reveal concerns as fee relief nears its end

Parents are having to choose between child care or food with more than 50 per cent saying the high cost of early learning has an impact on their weekly grocery budget and how much they can buy. The West

 

 

The Australian Financial Review

Page 1: The worst appears to be over in the job market with Tax Office payroll data showing about 124,000 jobs were added in May, in the first tentative signs of economic recovery.

Page 2: Delivery tech platform GetSwift misled investors by announcing it had secured a $9 billion deal with Commonwealth Bank of Australia, despite the bank previously warning GetSwift the basis of its forecast was wrong, a court has heard.

Page 3: All current and new company directors will need to verify their identity and get a director’s number for life under new anti-phoenixing laws passed by federal Parliament.

Page 4: Treasurer Josh Frydenberg has smacked down calls by the states for the federal government to help them fund tax reform, saying they must do their own share of the heavy lifting.

Page 5: A high 30 per cent corporate tax rate and lack of business entrepreneurship are holding back Australia’s economic competitiveness, according to a new international report.

Page 8: The Morrison government will try to reform global multilateral organisations from within, focusing on rules that protect sovereignty, trade and investment, oversee international economic standards, and preserve universal human rights.

The number of Australians regularly paying to read news online has doubled in the past four years, although it remains a fraction of the population.

Page 9: Australia’s largest superannuation fund has expressed its ‘‘displeasure’’ with Rio Tinto’s decision to carry out blasts that destroyed ancient rock shelters in the Pilbara, but is not contemplating dumping shares or divestment.

Page 13: LNG imports, solar farms, batteries, hydrogen and gas-fired power generation are all on the table for Viva Energy as it seeks to diversify its loss-making refining site at Geelong while tapping new opportunities in clean energy.

Page 14: Euroz, which is listed on the ASX , is in talks to buy well-known rival Hartleys.

Page 15: Under the pump retailers such as Naomi Milgrom’s Sussan Group are turning the tables on landlords by refusing to reopen stores unless they secure significant rent reductions.

Western Australia will need to amend its mining laws for new Aboriginal heritage protection legislation to work effectively, according to a key broker of deals between traditional owners and companies like Rio Tinto.

Page 18: High-flying iron ore miner Fortescue Metals Group has set itself one of the industry’s most ambitious greenhouse gas reduction targets, but is refusing to budge on reporting emissions from its steel-making customers in China.

 

 

The Australian

Page 1: Marise Payne has warned Chinese “disinformation” is undermining democracy and creating a “climate of fear”, as she committed the nation to a global push to strengthen international rulemaking bodies that are vital to Australia’s security.

Page 2: The nation’s troubled Future Submarine program is running at least 14 months behind schedule in completing a key milestone, intensifying pressure on the government to intervene to restore public confidence in the $90bn project.

Page 3: A new supercomputer is promising to greatly accelerate efforts to find a cure for COVID-19, after some of the world’s biggest technology companies agreed to team up in a rare show of collaboration.

Page 4: Young Australians’ first jobs may look different in the future — taking them from the shop floor to the warehouse floor — as the pandemic reshapes the workforce, according to the country’s first skills commissioner, Adam Boyton.

Australia is linking with European leaders and organisations at an unprecedented level because of success in dealing with the COVID-19 pandemic and Scott Morrison’s push against China for a global inquiry into its origin.

Page 5: Australian-owned independent craft brewer Colonial Brewing Co has become the latest victim of a spiralling cancel culture, with anti-racism activists calling for the brand to be removed from shelves for “creating nostalgia” for a time when indigenous people “were killed en masse”.

Page 13: Australia Inc is in sound financial shape, applying the lessons it learnt in the financial crisis by deleveraging ahead of the coronavirus pandemic, according to the head of the nation’s leading institutional bank.

If the suspension of the $5bn cruise industry continues into the summer high season of October and November it could result in further losses as high as $3.8bn and put another 13,000 jobs at risk.

Page 15: The economic fallout from the COVID-19 crisis will see record insolvencies batter Australian businesses in the next two years as one in six small and medium enterprises shut their doors for good, according to veteran business strategist Phil Ruthven.

 

 

The West Australian

Page 1: The majority of east coast residents hugely underestimate the contribution WA’s resources sector makes to the national economy, instead believing NSW is Australia’s top exporter.

Page 4: WA is at risk of losing valuable interstate visitors if it lags behind other States in releasing a roadmap that sets out when the hard border will be torn down, the “devastated” tourism industry warns.

Page 5: Tourism Minister Simon Birmingham will today say Australians need to do their “patriotic duty” and pump money into domestic travel.

Page 17: Parents are having to choose between child care or food with more than 50 per cent saying the high cost of early learning has an impact on their weekly grocery budget and how much they can buy.

Business: Green groups have welcomed Fortescue Metals Group’s target of net-zero carbon emissions by 2040 but say the miner must also cut supply chain emissions by its customers.

Live export ship Al Kuwait should depart for the Middle East today with WA sheep aboard, after the Federal Court dismissed a last-minute bid by Animals Australia to stop the voyage.

Gold Corporation chairman Sam Walsh said Perth Mint has suspended its relationship with players dealing with subsistence miners after revelations of links to a Papua New Guinea killer.

Women and teenagers are leading WA’s jobs recovery but the State continues to grapple with the biggest total wages fall in the nation.

Credit card purchases picked up modestly last week, with an increase in in-store spending outweighing an easing of online sales as stores reopened, Commonwealth Bank says.

A new $90 million aged cared facility has opened on the outskirts of Perth in the midst of the coronavirus pandemic, which has seen large outbreaks in nursing homes.

West Australians are continuing to lead the COVID-19 recovery, with spending in the State in early to mid-June the strongest across the country compared with the same time last year.

WA business owners say they are preparing for the end of JobKeeper by scrutinising every aspect of their business and building a “war chest”.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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