17/07/2020 - 07:02

Morning Headlines

17/07/2020 - 07:02

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Perth hotel numbers top nation thanks to FIFO lift

Morning Headlines

Perth hotel numbers top nation thanks to FIFO lift

Thanks to the mining industry and fly-in, fly-out workers, Perth hotels have weathered COVID-19 better than other capital cities. The Fin

Virus wreaks havoc with LNG exports

More than a third of Australian LNG cargoes shipped last month were delayed and had to wait at anchorage or steam round in circles as the COVID-19 pandemic extended its impact on one of the country’s most valuable commodity export markets. The Fin

Stars align to deliver for iron ore miners

WA iron ore miners are enjoying their best times in nearly a decade because of higher prices for their products, driven by voracious demand from China and a main global competitor crippled by coronavirus. The West

PM urges easier work laws for jobs

Scott Morrison has flagged extending industrial relations exemptions to employers who will no longer use JobKeeper, arguing ongoing flexibility will be needed if jobs are to be saved and created. The Fin

McFarlane: red tape risk to lending

Westpac chairman John McFarlane has warned that excessive financial regulation could hamstring the country’s ability to recover from the coronavirus-triggered recession by making it more difficult for the banks to lend. The Fin

Infrastructure fund extended for five years

The Morrison government has extended the life of the Northern Australia Infrastructure Facility for five years as part of a broader plan to repurpose the loan facility to help with the economic recovery. The Fin

China warning over dumping

China has warned Australia that excessive anti-dumping complaints by BlueScope Steel threaten the nation’s steel industry and could impact crucial iron ore exports. The Aus

Alcoa to fight ATO ‘all the way’ over $921m ruling

Aluminium giant Alcoa has vowed to take its fight with the Australian Taxation Office to the Supreme Court, and says it does not feel bound by BHP’s decision to settle a transfer pricing dispute in 2018. The Fin

43pc of mental health patients not getting right care

Startling statistics reveal that nearly half of patients having treatment for mental health issues are not getting the level of care they need because of the 10-session cap on taxpayer-funded appointments. The West

Telstra’s Covid price hikes under attack

Telstra has come under fire for increasing its mobile plan prices at a time when Australian families are doing it tough because of the COVID-19 pandemic. The Aus

 

 

The Australian Financial Review

Page 1: Scott Morrison has flagged extending industrial relations exemptions to employers who will no longer use JobKeeper, arguing ongoing flexibility will be needed if jobs are to be saved and created.

Westpac chairman John McFarlane has warned that excessive financial regulation could hamstring the country’s ability to recover from the coronavirus-triggered recession by making it more difficult for the banks to lend.

Page 3: Scott Morrison has suggested Victoria’s coronavirus outbreak has been exacerbated by poor contact tracing protocols, and that NSW was getting on top of its problems more quickly due to better procedures.

Page 5: The Morrison government has extended the life of the Northern Australia Infrastructure Facility for five years as part of a broader plan to repurpose the loan facility to help with the economic recovery.

Page 6: Australia is set to use its success flattening the coronavirus curve to win more major movie and television productions, backed up by $400 million in new funding from the federal government.

Trade wars, the coronavirus pandemic and a global recession have exposed Australia’s lack of trade diversity and over-reliance on China, experts say.

Page 9: Top-tier law firm Gilbert + Tobin underpaid its graduates almost $300,000 because crushing work hours dragged them below the minimum hourly rate, despite their graduate salaries being among the highest in the market.

Page 10: State energy ministers from across the political divide have voiced support for the continuation of the Kerry Schottled Energy Security Board, citing its ‘‘critical’’ work on energy reforms, ahead of a meeting with federal Energy Minister Angus Taylor today that will canvass the potential abolition of the top energy policy advisory.

Page 11: Thanks to the mining industry and fly-in, fly-out workers, Perth hotels have weathered COVID-19 better than other capital cities.

Page 12: Australians could boost their tax refund by avoiding a special COVID-19 deduction shortcut, accountants H&R Block say.

Page 16: After several days spent weathering attacks from White House officials, Anthony Fauci hit back on Wednesday (Thursday AEST), calling recent efforts to discredit him ‘‘bizarre’’ and a hindrance to the government’s ability to communicate information about the coronavirus pandemic.

Page 17: The company reporting season just around the corner will be punishing for stocks unwilling to give the market the earnings guidance it has been craving since COVID-19 erupted, warns the investor behind the top-performing Australian fund of 2019-20.

Rich Lister Anthony Pratt says ‘‘manufacturing has never been more important to Australia’s future’’ as his Visy group agreed to pay $733 million to acquire the Australasian glass bottle manufacturing assets of United States group Owens-Illinois.

Page 19: Travel outfit Helloworld is tapping $50 million, joining a growing list of companies raising additional cash to deal with ever-lengthening projections of the coronavirus fallout.

Page 22: Aluminium giant Alcoa has vowed to take its fight with the Australian Taxation Office to the Supreme Court, and says it does not feel bound by BHP’s decision to settle a transfer pricing dispute in 2018.

Page 23: The competition regulator is looking into Woolworths’ plans to build a $1 billion wholesale business supplying the education, childcare, healthcare, disability and government sectors.

Page 24: More than a third of Australian LNG cargoes shipped last month were delayed and had to wait at anchorage or steam round in circles as the COVID-19 pandemic extended its impact on one of the country’s most valuable commodity export markets.

 

 

The Australian

Page 1: Australia’s most prestigious universities could permanently lose thousands of researchers in the next few months as sandstone institutions hit by COVID-19 face a $2bn fiscal cliff.

Page 3: Telstra has come under fire for increasing its mobile plan prices at a time when Australian families are doing it tough because of the COVID-19 pandemic.

Page 13: China has warned Australia that excessive anti-dumping complaints by BlueScope Steel threaten the nation’s steel industry and could impact crucial iron ore exports.

Page 15: The federal government will need to pump at least $50bn into the economy in the December quarter to support retail conditions and market forecasts for company earnings, according to analysis.

Page 18: In more grim news for aviation, international airlines have been ranked as the industry most likely to underperform in the next year as a result of the COVID-19 crisis.

Papua New Guinea Prime Minister James Marape has flagged a push to take more control of the Porgera gold mine in response to Barrick Gold boss Mark Bristow’s move to ramp up the pressure on the PNG government over the mine.

 

 

The West Australian

Page 4: Startling statistics reveal that nearly half of patients having treatment for mental health issues are not getting the level of care they need because of the 10-session cap on taxpayer-funded appointments.

Page 6: More than 20,000 women picked up part-time work last month after the State’s hospitality and services sectors reopened, though that could not prevent WA’s unemployment rate rising to 8.7 per cent — the second worst in Australia and highest since 1994.

Page 11: A mentally ill man allegedly broke into Government House and jumped into Governor Kim Beazley’s bed wearing clothing he had stolen from the regal residence, later claiming the Queen had invited him inside.

Page 16: Less than a year after one of two former teachers now facing historical sex abuse charges left elite girls’ school Penrhos College “under a cloud”, he was working at Chisholm Catholic College.

Business: WA iron ore miners are enjoying their best times in nearly a decade because of higher prices for their products, driven by voracious demand from China and a main global competitor crippled by coronavirus.

WA could miss out on Scott Morrison’s $1 billion JobTrainer program, with the State Government warning it would centralise pricing and decision-making on vocational education and training.

WA’s Clean State initiative has thrown its support behind a conservation stimulus package for struggling tourist regions across the State, saying a $150 million investment would immediately generate up to 2000 local jobs.

China became the first major economy to grow since the start of the coronavirus pandemic, recording an unexpectedly strong 3.2 per cent expansion in the latest quarter after anti-virus lockdowns were lifted and factories and stores reopened.

The junior raising rush continued yesterday with Mark Bennett’s S2 Resources understood to be raising $7.75 million in a placement.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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