07/07/2020 - 05:48

Morning Headlines

07/07/2020 - 05:48

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1-in-2 fear home sale inevitable

Morning Headlines

1-in-2 fear home sale inevitable

One-in-two stressed mortgage customers fear they may have to sell their homes in the next six months as JobKeeper and repayment holidays come to an end. The West

Shut border risk to jobs

Prime Minister Scott Morrison concedes jobs are at risk and business has reacted with alarm after NSW Premier Gladys Berejiklian ordered her state’s border with Victoria closed to stop the spread of a fresh coronavirus outbreak. The Fin

Bondholders move to stop sale of Virgin

Virgin Australia’s bondholders are fighting to torpedo the airline’s sale to US private equity outfit Bain Capital, asking the Takeovers Panel – the national forum for resolving disputes surrounding corporate acquisitions – to intervene in the process on their behalf. The Fin

Federal Government won’t pull support for Clive’s border suit

The Morrison Government will press ahead with its support of Clive Palmer’s legal challenge to WA’s hard border despite Premier Mark McGowan’s claim his case had “disappeared into thin air” after confirmation NSW would ban travel with Victoria. The West

Work visa sweetener for uni students

International students enrolled at Australian universities but forced to remain overseas and study online because of the COVID-19 pandemic will still be granted graduate work rights under concessions to the embattled higher education sector being considered by the Morrison government. The Aus

Reject Shop to ‘ride wave’ of surging demand for discount retail

The Reject Shop could prove a recession-buster in the beaten-down retail category if it makes the best of its dominant position in the dollar shop industry in Australia and could become a $3bn stock over the next decade, according to Morgan Stanley. The Aus

Bounce in ads sees applicant rush as calls for job flexibility grow

Retail employers say greater flexibility in workplace regulation would enable them to offer more jobs to more applicants, even after a record 42 per cent jump in job ads for June. The Fin

TikTok Australia hits back at risk claims linked to China ownership

TikTok Australia managing director Lee Hunter has pushed back against claims that the social media app poses security risks to Australian users based on the app’s Chinese ownership. The Fin

Reynolds calls for local push on rare earths

Defence Minister Linda Reynolds says Australia must step up in supplying rare earths and other critical minerals increasingly important to its armed forces and those of its allies. The Fin

‘Covid shows we can close the gap’

Influential epidemiologist Fiona Stanley has declared the success in limiting the COVID-19 outbreak in indigenous communities shows Closing the Gap can be achieved if the policy settings are right. The Aus

WA airing grievances on flights

Mark McGowan has moved to “slow the flow” of air arrivals into WA by requesting a cap on international flights into Perth and announcing new emergency legislation that would force returning travellers to pay for their own hotel quarantine. The West

 

 

The Australian Financial Review

Page 1: Prime Minister Scott Morrison concedes jobs are at risk and business has reacted with alarm after NSW Premier Gladys Berejiklian ordered her state’s border with Victoria closed to stop the spread of a fresh coronavirus outbreak.

Page 2: An employer’s use of JobKeeper powers to almost halve a full-time worker’s hours during the economic downturn has been overruled, with the workplace tribunal rejecting the move as ‘‘overly precautionary’’.

Page 3: Chef Neil Perry abruptly retired from Rockpool Dining Group yesterday, leaving behind the restaurants that cemented his stellar career, including Rockpool Bar & Grill, Spice Temple and Rosetta.

Increasing the GST could deliver as much as $40 billion in new revenue to governments while effectively funding compensation for low-income earners, according to a new plan.

Page 6: First State Super, which has just merged with VicSuper to create a $120 billion mega fund, returned 1.3 per cent last financial year, while Australian-Super and Cbus managed to deliver positive returns of 0.52 per cent and 0.75 per cent respectively.

Retail employers say greater flexibility in workplace regulation would enable them to offer more jobs to more applicants, even after a record 42 per cent jump in job ads for June.

Page 8: TikTok Australia managing director Lee Hunter has pushed back against claims that the social media app poses security risks to Australian users based on the app’s Chinese ownership.

Page 9: While the coronavirus lockdowns and border closures took a wrecking ball to the economy, especially the tourism and services sectors, the road back from COVID-19 will not be consistent for all industries or states.

Page 13: Virgin Australia’s bondholders are fighting to torpedo the airline’s sale to US private equity outfit Bain Capital, asking the Takeovers Panel – the national forum for resolving disputes surrounding corporate acquisitions – to intervene in the process on their behalf.

Page 16: Defence Minister Linda Reynolds says Australia must step up in supplying rare earths and other critical minerals increasingly important to its armed forces and those of its allies.

Major political and financial setbacks for the LNG sector over the past 12 months have left at least two dozen projects around the world in serious jeopardy, according to Global Energy Monitor, which says the industry can no longer be considered a ‘‘safe bet’’ for investors.

Page 18: The country’s top venture capitalists are unlikely to take ownership of Seven West Media’s venture assets, with the investors tipping the buyer would probably be a global secondary fund with an interest in Australia.

Page 19: The era of the jet set dealmaker could be coming to an end, with new stats showing venture capitalists, company founders and other investors have not missed a beat during lockdown, adopting virtual meetings and data rooms to spend more than they did last year.

 

 

The Australian

Page 1: International students enrolled at Australian universities but forced to remain overseas and study online because of the COVID-19 pandemic will still be granted graduate work rights under concessions to the embattled higher education sector being considered by the Morrison government.

Page 6: Influential epidemiologist Fiona Stanley has declared the success in limiting the COVID-19 outbreak in indigenous communities shows Closing the Gap can be achieved if the policy settings are right.

Page 15: The Reject Shop could prove a recession-buster in the beaten-down retail category if it makes the best of its dominant position in the dollar shop industry in Australia and could become a $3bn stock over the next decade, according to Morgan Stanley.

Page 16: Buy now, pay later heavyweight Afterpay is the latest partner for Qantas’ juggernaut frequent flyer program.

Page 17: Big tech companies including Google parent Alphabet, Amazon.com and Facebook face a swath of proposed European regulations aimed at curbing their alleged anti-competitive behaviour, making them pay more taxes and compelling them to shoulder more responsibility for illegal content on their platforms, a top EU official says.

Page 20: Chairs of mid-market ASX-listed companies are under increasing pressure to appoint more women to their boards, according to a report to be released on Tuesday by KPMG and the 30% Club.

 

 

The West Australian

Page 3: Mark Zuckerberg will today meet leaders of civil rights groups who organised an advertising boycott of Facebook.

Page 4: Pauline Hanson has been axed from her regular TV spot after her diatribe against Victorian public housing residents trapped in their own homes.

Page 5: The number of unemployed Australians not actively looking for work has risen significantly, according to researchers.

Page 6: The Morrison Government will press ahead with its support of Clive Palmer’s legal challenge to WA’s hard border despite Premier Mark McGowan’s claim his case had “disappeared into thin air” after confirmation NSW would ban travel with Victoria.

Page 7: Mark McGowan has moved to “slow the flow” of air arrivals into WA by requesting a cap on international flights into Perth and announcing new emergency legislation that would force returning travellers to pay for their own hotel quarantine.

Allowing a single person with coronavirus into WA could quickly leave the State battling an even bigger outbreak than Victoria, according to WA’s peak medical body.

Page 10: A cross-runway and additional hangars would be a “huge advantage” for pilots flying in and out of Bunbury Airport, according to the City’s mayor.

Business: One-in-two stressed mortgage customers fear they may have to sell their homes in the next six months as JobKeeper and repayment holidays come to an end.

Medical research institutes are facing a funding crisis as donations from philanthropists dry up amid the coronavirus recession and donors lose interest in projects that are not COVID-related.

Junior gold plays are rushing to take advantage of their soaring share prices by locking in big wads of cash from investors while sentiment towards the precious metal remains buoyant.

A management buyout proposal is the frontrunner for prominent farmer John Nicoletti’s string of John Deere dealerships in the Wheatbelt.

Alcoa of Australia’s plans to lift mining and processing rates as part of its Pinjarra Alumina Refinery expansion will be subject to a Public Environmental Review.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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