03/07/2020 - 06:53

Morning Headlines

03/07/2020 - 06:53

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Morning Headlines

AMP women stage revolt

Female employees at AMP have exploded at senior managers and the male-dominated board, calling for the sacking of Boe Pahari and for cultural change across the business following revelations of ‘‘AMP’s #MeToo moment’’, as investors and clients hit the firm with complaints. The Fin

Flyers warn of opening WA too soon in petition push

Labor has started to use its hard border policy as a re-election weapon — dropping a flyer into the letterboxes of marginal seat homes urging voters to sign a petition at a Keep WA Strong website while telling them Liberal leader Liza Harvey “wanted our State borders open too soon”. The West

Air freight flight subsidy to continue

About $3 billion of agricultural and seafood exports has been secured, with the Morrison government to continue subsidising air freight flights until the end of the year. The Fin

BHP's fresh punt on Bass Strait

Resources giant BHP has paid for a major survey aimed at boosting its gas supplies in the Bass Strait amid expectations it may look to bolster the value of the ageing assets and follow partner Exxon-Mobil in pursuing a sale. The Aus

Optus dials down odds of mobile price war

Optus chief executive Kelly Bayer Rosmarin has dismissed the prospect of a price war in mobile telephones following the merger between Vodafone and TPG Telecom, and says the industry has already been through a severe bout of price-based competition. The Fin

Close gap in mining

Resources Minister Keith Pitt wants the mining sector to hire more Indigenous Australians as a way to increase cultural knowledge and close the gap on employment outcomes for our First Nations people. The West

Cormann poised to leave politics after budget

Federal Finance Minister Mathias Cormann is poised to quit politics before the end of the year, prompting a shake-up of the frontbench and leaving the government without one of its key fiscal disciplinarians. The Fin

Visa fast track for HK nationals fleeing strife

Hong Kong nationals wanting to flee China’s security crackdown in the territory would have a fast track to resettlement in Australia through the skilled migrant visa program, under an option cabinet will consider next week. The Aus

Indigenous group pressures Premier over sacred site

WA’s peak Noongar native title organisation has asked Mark McGowan to reverse a controversial decision to pave over part of a significant Aboriginal ceremonial site for the $520 million expansion of Perth Airport. The West

Exports to China hit new high

Australia’s annual exports to China hit record highs in May, suggesting it was largely business as usual between the nations, despite a backdrop of escalating trade tensions. The West

 

 

The Australian Financial Review

Page 1: Female employees at AMP have exploded at senior managers and the male-dominated board, calling for the sacking of Boe Pahari and for cultural change across the business following revelations of ‘‘AMP’s #MeToo moment’’, as investors and clients hit the firm with complaints.

Victoria’s COVID-19 outbreak spread to Sydney and Darwin after new cases were confirmed in both cities from travellers returning from hotel quarantine in Melbourne.

A major Victorian stevedore will pursue the Maritime Union of Australia for $80 million in damages over an illegal picket, in a case that potentially threatens to bankrupt the militant union.

Page 3: Optus chief executive Kelly Bayer Rosmarin has dismissed the prospect of a price war in mobile telephones following the merger between Vodafone and TPG Telecom, and says the industry has already been through a severe bout of price-based competition.

Federal Finance Minister Mathias Cormann is poised to quit politics before the end of the year, prompting a shake-up of the frontbench and leaving the government without one of its key fiscal disciplinarians.

Australia is preparing to offer safe haven to Hong Kong residents fleeing the city following China’s national security crackdown, Prime Minister Scott Morrison says.

Page 4: Millennial super-spreaders could be responsible for the majority of new COVID-19 cases, according to three separate international academic research projects.

Page 6: The costs to the economy and community of failing to reform the tax system, including the 10 per cent goods and services tax, will get worse unless political leaders shift more of the tax burden to consumption and land, former top tax officials and business say.

Page 8: The union for Qantas airport staff has pledged to take immediate legal action against the airline because it says the airline is refusing to change how it uses JobKeeper to pocket parts of the wage subsidy.

Page 11: About $3 billion of agricultural and seafood exports has been secured, with the Morrison government to continue subsidising air freight flights until the end of the year.

Australian business risks losing ground in key Asian markets, with a new report highlighting the country’s limited progress in building enduring trade and investment relationships across the region.

Page 14: Russians opened the door to Vladimir Putin staying in power until 2036 by voting overwhelmingly for constitutional changes that will allow him to run again for president twice, but critics said the outcome was falsified on an industrial scale.

Page 15: Provisional liquidators have been appointed to companies tied to the $80 million IPO Wealth Fund, the maiden offering of the embattled Mayfair 101 investment outfit.

Page 17: Nufarm is facing an uphill battle to save its remaining domestic manufacturing operations after Beijing weighed the scales heavily in favour of China-based rivals shipping product into Australia.

Page 18: Virgin Australia, buoyed with fresh funding from new owner US private equity group Bain Capital, will add 17 domestic routes to its network by the first week of August, as the International Air Transport Association heralds early recovery signs among some internal air travel markets reopened in the pandemic.

Page 21: Renewable power has surged to provide a quarter of Australia’s electricity needs in the past year, eating into black coal power plants’ dominant market share, data from the Open National Electricity Market project shows.

Page 22: Tesla’s ever-widening base of shareholders has lifted the market value of the California-based car maker to pole position, knocking Toyota into second place.

 

 

The Australian

Page 1: Hong Kong nationals wanting to flee China’s security crackdown in the territory would have a fast track to resettlement in Australia through the skilled migrant visa program, under an option cabinet will consider next week.

Page 2: Scott Morrison will boost Australia’s COVID-19 trade recovery with a $350m injection supporting export flights carrying lobsters, beef and salmon, as the government advances plans to target Indonesia when the free-trade agreement starts on Sunday.

Page 4: Finance Minister Mathias Cormann has flagged further tax incentives for businesses in the October budget, killed-off any changes to the rate of GST and outlined the government’s plan to “re-shore” strategic and defence manufacturing in Australia.

Page 6: Indigenous Australians Minister Ken Wyatt says modelling in the draft Closing the Gap target on incarceration rates suggesting parity will only be reached in 2093, described by leading Aboriginal figures as “profoundly despairing’’, will not make the final agreement.

Page 13: Resources giant BHP has paid for a major survey aimed at boosting its gas supplies in the Bass Strait amid expectations it may look to bolster the value of the ageing assets and follow partner Exxon-Mobil in pursuing a sale.

Page 15: Afterpay shares hit yet another record on Thursday, after investment bank Citi increased its price target by a whopping 137 per cent, putting the payments play firmly in the ranks of a top 20 ASX stock.

Page 17: The number of mortgages on suspended repayments through COVID-19 hardship measures is declining, with some homeowners opting to begin paying down their debt earlier.

 

 

The West Australian

Page 1: Labor has started to use its hard border policy as a re-election weapon — dropping a flyer into the letterboxes of marginal seat homes urging voters to sign a petition at a Keep WA Strong website while telling them Liberal leader Liza Harvey “wanted our State borders open too soon”.

Page 5: One of Perth’s top-ranking public high schools was yesterday forced to abandon a scheme to offer $500 cash incentives to Year 12 students to work harder after it was slammed as a “lazy” and inappropriate decision.

Page 6: Victoria’s status as Australia’s pariah State was entrenched yesterday, as locked down suburbs were turned back into ghost towns and more than 1000 police officers flooded COVID-19 hotspots to crack down on people trying to flee.

Page 7: Western Australia’s exports will be boosted by close to $1 billion with the Federal Government underwriting flights of rock lobster and other agricultural products while international flights remain grounded.

Page 10: The former girlfriend of Jeffrey Epstein and alleged madam who is accused of procuring young girls for him has been arrested in the US.

Page 11: Resources Minister Keith Pitt wants the mining sector to hire more Indigenous Australians as a way to increase cultural knowledge and close the gap on employment outcomes for our First Nations people.

Page 21: Simple stretching exercises could help to protect people from heart attacks and strokes.

Business: WA’s peak Noongar native title organisation has asked Mark McGowan to reverse a controversial decision to pave over part of a significant Aboriginal ceremonial site for the $520 million expansion of Perth Airport.

The Al Kuwait live-sheep carrier has arrived in Kuwait with a healthy consignment of animals.

Australia’s annual exports to China hit record highs in May, suggesting it was largely business as usual between the nations, despite a backdrop of escalating trade tensions.

WA is poised to outperform the national economy during the coronavirus pandemic but economists are warning the State will not escape the crisis unscathed.

The ageing Nifty copper mine in the East Pilbara could be set to pass to its fifth owner after an embattled Metals X was forced to put up the “for sale” sign on its entire copper portfolio yesterday.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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