08/07/2020 - 07:02

Morning Headlines

08/07/2020 - 07:02

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Morning Headlines

Melbourne locked down: Premier pleads for help

The national economic recovery is threatened by a six-week return to lockdown for 5 million Melbourne residents and businesses to avoid COVID-19 spiralling out of control after Victoria recorded a record 191 new virus cases. The Fin

Virus, poor prices push out plant’s start date

Chinese lithium producer Tianqi has revealed its delayed $700 million-plus Kwinana processing plant is not expected to enter production until next year, with the suspended second stage unlikely to be completed until mid-2023 at best. The West

Afterpay users soar as shoppers move online

Buy now, pay later giant Afterpay has amassed almost 10 million active users worldwide and will raise $1.05 billion as it pushes ahead with its international expansion plan. The Fin

Banks give borrowers extra time to repay

Australian banks will continue to act as shock absorbers for the economy by extending six-month repayment holidays a further four months for households and businesses that can show they are viable borrowers. The Fin

AMA says capacity crowd is a health ‘gamble’

A capacity crowd of 60,000 at the western derby would be a huge “gamble”, Australian Medical Association State president Andrew Miller has warned. The West

Tourism takes $6bn hit amid call for support

Australia’s tourism industry lost nearly $6bn in just three months as the COVID-19 pandemic took hold, government data reveals, as business leaders and unions demand urgent support for the sector and aviation workers. The Aus

Victoria crackdown ‘a backward step’

The shuttering of the NSW-Victoria border after a surge in COVID-19 cases reinforces the need to give businesses clarity on conditions for enforcing and lifting restrictions, WA’s peak business body says. The West

Robert says sensitive data to remain in Australia

Sensitive government data will be required to be hosted in Australia under new rules to protect the integrity of citizens’ information. The Fin

Posties flat-out as shoppers embrace online

Australian shoppers have made a big shift online during the coronavirus pandemic, with Australia Post delivering 26 million more parcels this year and internet retail spending up 63 per cent. The Aus

Perth liquidator wins Decmil creditor battle

The Perth-based liquidator of Decmil’s New Zealand business has claimed victory in a battle to oust him despite a majority of creditors voting for his replacement.

US billionaire in LJ Hooker rescue

One of Australia’s best-known real estate brands, LJ Hooker, is set for a rebirth with the backing of a New York billionaire who has put forward a rescue plan. The Aus

 

 

The Australian Financial Review

Page 1: The national economic recovery is threatened by a six-week return to lockdown for 5 million Melbourne residents and businesses to avoid COVID-19 spiralling out of control after Victoria recorded a record 191 new virus cases.

Australian banks will continue to act as shock absorbers for the economy by extending six-month repayment holidays a further four months for households and businesses that can show they are viable borrowers.

Page 3: Early withdrawals of superannuation have hit Treasury’s initial forecast of $27 billion, with another three months still left to claim.

Page 6: Public health authorities should do more to encourage people to wear face masks and improve ventilation in confined spaces, as evidence emerges of how easily the coronavirus spreads through the air, scientists say.

Page 9: Australia Post has reached a deal with the posties union that would add hurdles to any forced redundancies in its shift to an alternative letter delivery model next month in return for the union ‘‘actively supporting’’ the reform.

Page 11: Sensitive government data will be required to be hosted in Australia under new rules to protect the integrity of citizens’ information.

Page 15: Buy now, pay later giant Afterpay has amassed almost 10 million active users worldwide and will raise $1.05 billion as it pushes ahead with its international expansion plan.

Andrew Forrest took on Rio Tinto and BHP in iron ore and now he is taking aim at Mastercard, Visa and Amex.

Page 20: The Perth-based liquidator of Decmil’s New Zealand business has claimed victory in a battle to oust him despite a majority of creditors voting for his replacement.

 

 

The Australian

Page 2: Australian shoppers have made a big shift online during the coronavirus pandemic, with Australia Post delivering 26 million more parcels this year and internet retail spending up 63 per cent.

Page 4: Victoria’s second wave of coronavirus infections threatens to wipe out the state’s international education industry — worth $12.55bn.

Page 6: Australia’s tourism industry lost nearly $6bn in just three months as the COVID-19 pandemic took hold, government data reveals, as business leaders and unions demand urgent support for the sector and aviation workers.

Page 13: Resolution Life will use its newly acquired AMP life insurance unit to drive further rationalisation in the Australian sector and invest in improved technology, adamant that COVID-19 has highlighted the value of life insurance.

Page 15: One of Australia’s best-known real estate brands, LJ Hooker, is set for a rebirth with the backing of a New York billionaire who has put forward a rescue plan.

Page 21: The federal government’s university funding policies will cut nearly $1bn a year of government money from universities, according to new modelling from one of Australia’s foremost higher education analysts.

 

 

The West Australian

Page 1: Generous taxpayer-funded building grants are being gobbled up by higher construction costs, with some companies raising new home prices by tens of thousands of dollars.

Page 3: Households who hire a plumber to fix a leaky tap or fixture can claim a $100 rebate off their Water Corporation bill.

Page 4: About 10,000 people will be forced to hand back their western derby tickets if WA does not move to Phase Five restrictions as planned on July 18.

A capacity crowd of 60,000 at the western derby would be a huge “gamble”, Australian Medical Association State president Andrew Miller has warned.

Page 14: Forty new mental health beds will be added to Fremantle Hospital after the McGowan Government revealed it would top up a previously announced cash splash for the port hospital.

Page 16: Children who are obese or overweight as toddlers are showing signs of cardiovascular disease from as young as 11 years old, Australian research shows.

Business: The shuttering of the NSW-Victoria border after a surge in COVID-19 cases reinforces the need to give businesses clarity on conditions for enforcing and lifting restrictions, WA’s peak business body says.

A list of big-ticket infrastructure projects — creating more than 20,000 jobs during construction — will be critical to WA’s economic recovery after COVID-19.

Technology entrepreneur and former acting lord mayor Jemma Green is fighting allegations her company Power Ledger paid internet social influencers to promote its cryptocurrency float in the boom of late 2017.

WA can get greater bang for its buck from its minerals by pushing further down the lithium-ion battery value chain to produce cathode precursor materials, a report has found.

WA has recorded the biggest bounce back of any State or Territory for employment within the accommodation sector, according to a new PwC report.

Australia’s Foreign Investment Review Board has approved Spanish utility Iberdrola’s $864 million takeover offer for ASX-listed wind farm operator Infigen.

Chinese lithium producer Tianqi has revealed its delayed $700 million-plus Kwinana processing plant is not expected to enter production until next year, with the suspended second stage unlikely to be completed until mid-2023 at best.

 

 

 

 

 

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