29/06/2020 - 06:34

Morning Headlines

29/06/2020 - 06:34

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Morning Headlines

Resources and energy exports slashed $30b

The coronavirus pandemic has shattered Australia’s resources and energy forecasts, with export earnings set to drop by $30 billion in the 2021 financial year, down from a record of $293 billion this year. The Fin

Mint shares links probed

A Corruption and Crime Commission investigation was launched after it emerged that officials at the Perth Mint held shares in local tech company Sapien Cyber while it was considered for a contract protecting the mint from cyber attack. The West

Red tape relief may be permanent

The federal government is actively considering making permanent some coronavirus ‘‘regulatory shields’’ for businesses to cut red tape and help attract investment during the economic recovery. The Fin

Airfare talks bid to boost WA travel

The State Government is negotiating with crisis-hit Qantas and Virgin about putting on cheaper regional airfares to WA’s northern holiday hotspots. The West

Airports back Qantas over bleak outlook

Major Australian airports are bleakly backing Qantas’ projections of international travel remaining largely absent until halfway through next year, as evidence mounts of the pandemic’s debilitating impact on aviation. The Fin

Land council with $650m portfolio pulls out of Rio

An Indigenous land council with a $650 million investment portfolio has instructed fund managers to pull its money out of Rio Tinto over the company’s destruction of 46,000-year-old rock shelters. The Fin

Golden opportunity in sight for Regis Resources

The $2.6bn Regis Resources is being closely watched by those interested in the gold space, with many suspecting it could be next out of the blocks when it comes to making a major acquisition. The Aus

Virus spike toughens quarantine

Victoria’s outbreak of 90 coronavirus cases over the weekend threatens to trigger tougher lockdowns across suburbs in Melbourne and set back national progress towards opening the economy. The Fin

Economy will need $90b more: Grattan

Federal and state governments should inject a further $70 billion to $90 billion in spending stimulus over the next two years to avoid long-term unemployment ‘‘scarring’’ and to boost the economic recovery in the wake of COVID-19, a new report by the Grattan Institute says. The Fin

Aussies to tighten up finances

The financial impacts of the coronavirus pandemic are expected to last several years as many Australians are forced to reassess their financial status. The West

 

 

The Australian Financial Review

Page 1: Victoria’s outbreak of 90 coronavirus cases over the weekend threatens to trigger tougher lockdowns across suburbs in Melbourne and set back national progress towards opening the economy.

Australia’s leading economists have called for a more targeted approach to stimulus and an end to the costly JobKeeper program that looms as a threat to Australia’s productivity as the country emerges from the sharpest contraction in growth since the Great Depression.

Page 3: The federal government is actively considering making permanent some coronavirus ‘‘regulatory shields’’ for businesses to cut red tape and help attract investment during the economic recovery.

The West Australian corruption watchdog has begun making inquiries about the Perth Mint, following allegations of nepotism and related-party dealings at the state government-owned refiner.

Page 6: Federal and state governments should inject a further $70 billion to $90 billion in spending stimulus over the next two years to avoid long-term unemployment ‘‘scarring’’ and to boost the economic recovery in the wake of COVID-19, a new report by the Grattan Institute says.

Page 12: Five US states hit record daily highs for coronavirus cases on Saturday (Sunday AEST) and Vice-President Mike Pence cancelled planned campaign events in hard-hit areas as the virus surged in America’s south and west, halting economic reopening plans.

Page 15: Major Australian airports are bleakly backing Qantas’ projections of international travel remaining largely absent until halfway through next year, as evidence mounts of the pandemic’s debilitating impact on aviation.

Page 17: The coronavirus pandemic has shattered Australia’s resources and energy forecasts, with export earnings set to drop by $30 billion in the 2021 financial year, down from a record of $293 billion this year.

An Indigenous land council with a $650 million investment portfolio has instructed fund managers to pull its money out of Rio Tinto over the company’s destruction of 46,000-year-old rock shelters.

 

 

The Australian

Page 1: The Morrison government has vowed to inflict “reputational damage” on countries behind global disinformation campaigns as part of its war on fake news and foreign interference.

Page 6: Iron ore demand in China since the start of the COVID-19 pandemic is “buffering” the Australian economy from the worst of the global economic hit and ensured a $293bn record in resources exports this year.

Page 8: Facebook was in crisis on Sunday as the world’s biggest brands joined a growing advertising boycott over the social network’s inability to control hate speech.

Page 13: Bain Capital will begin injecting $600m in cash and taking control of Virgin from Wednesday following a multi-billion-dollar deal struck last Friday which will see a slimmed-down airline come out of administration in September.

Page 14: The $2.6bn Regis Resources is being closely watched by those interested in the gold space, with many suspecting it could be next out of the blocks when it comes to making a major acquisition.

Page 15: Peak corporate bodies are urging the federal government to extend the superannuation guarantee amnesty put in place due to COVID-19, as economic pressures are straining payroll infrastructure.

Page 19: The new digital era at News Corp Australia’s community and regional newspapers has been strongly received by the media group’s readers, who now have access to a “supercharged local edition”.

Streaming service Stan is poised to lose the bulk of its key Showtime television programs at the end of the year, significantly weakening the appeal of the Nine Entertainment-owned group as competition for subscribers heats up.

 

 

The West Australian

Page 7: Prince Harry has become the latest big name to back an advertising boycott of Facebook that has led to billions of dollars being wiped off Mark Zuckerberg’s personal net worth.

Page 8: The Morrison Government has hosed down reports it is planning on raising welfare benefits by $150 a fortnight.

Page 9: The State Government is negotiating with crisis-hit Qantas and Virgin about putting on cheaper regional airfares to WA’s northern holiday hotspots.

Page 14: Frontline workers such as police and GPs will be given training on identifying strangulation and its risks under a plan by the State Government to support its new anti-domestic violence laws.

Business: A Corruption and Crime Commission investigation was launched after it emerged that officials at the Perth Mint held shares in local tech company Sapien Cyber while it was considered for a contract protecting the mint from cyber attack.

Page 20: The financial impacts of the coronavirus pandemic are expected to last several years as many Australians are forced to reassess their financial status.

 

 

 

 

 

 

 

 

 

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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