29/07/2020 - 07:01

Morning Headlines

29/07/2020 - 07:01

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Lukoil may team up with Woodside

Morning Headlines

Lukoil may team up with Woodside

Woodside Petroleum is ‘‘considering all its options’’ after the shock news of a deal that would have Russian oil heavyweight Lukoil – the subject of US sanctions – join as a major partner in its troubled $US4.2 billion ($5.9 billion) oil project in Senegal. The Fin

Chevron allays cracking fears, sets September return to operation

Chevron has hosed down union claims that cracks in critical equipment needed to keep its Gorgon LNG project running are so bad they cannot be repaired. The Fin

Cormann wants State to open for the good of nation

Federal Finance Minister Mathias Cormann is imploring Mark McGowan to see reason and lift WA’s hard border to allow business to prosper and increase Perth’s chances of hosting the AFL grand final. The West

Rio goes for gold on rich new find

Rio Tinto is set to take the leap into gold mining on its huge land footprint in Western Australia as prices for the precious metal soar to record levels. The Fin

Former exec: blast blunder breached company’s standards

The destruction of a culturally sensitive gorge would not have happened under Rio Tinto’s previous protocols and is likely to have been the product of corporate restructuring and an exodus of experienced staff, the man who led Rio’s global community and Indigenous relations until 2013 has said. The Fin

Oil and gas reform blueprint

Australia’s oil and gas industry will present a reform blueprint to Scott Morrison to kick-start an economic recovery amid fears the sector is struggling to recover from a COVID-19 oil crash while the nation’s big renewable players have warned the pandemic risks slashing investment and derailing the clean energy transition. The Aus

CBA, Square Peg unite for innovation crusade

Commonwealth Bank chief executive Matt Comyn and Seek co-founder Paul Bassat have described innovation as being critical not only to the success of the bank but also the nation, as the pair unveiled a joint venture to seek out world-class technology that could be rolled out to CBA customers. The Fin

Palmer tests state’s border exemptions

Almost 3300 travellers — some excused from quarantine because they are essential workers with a special category of exemption — have been arriving each week in Western Australia from interstate despite its “hard border closure”, the Federal Court has heard. The Aus

Student visa applications crash

Visa applications from international students based overseas slowed to a trickle in the months after COVID-19 travel bans were introduced, according to figures from the Department of Home Affairs. The Aus

Heavy machinery operators in demand

Demand for operators of heavy machinery — such as dump trucks, excavators and graders — has defied the coronavirus pandemic to reach levels last seen at the height of the mining construction boom. The West

 

 

The Australian Financial Review

Page 1: Australia is in danger of marking its first three quarters of economic contraction since the 1982 recession as Victoria’s virus lockdown threatens to last beyond its six-week schedule, stalling the national jobs and spending recovery in spite of a surge in government stimulus payments.

Rio Tinto is set to take the leap into gold mining on its huge land footprint in Western Australia as prices for the precious metal soar to record levels.

Page 2: The destruction of a culturally sensitive gorge would not have happened under Rio Tinto’s previous protocols and is likely to have been the product of corporate restructuring and an exodus of experienced staff, the man who led Rio’s global community and Indigenous relations until 2013 has said.

Page 5: The latest data on university revenue shows more than half the funding for research comes from international student fees, which is of ‘‘great concern’’ given international student numbers have collapsed, says the Centre for the Study of Higher Education at Melbourne University.

Page 10: Australia is poised to agree to a US request to boost naval patrols and exercises in the South China Sea, with Scott Morrison playing down concerns that such actions risk retaliation from China.

Page 11: Former Malaysian prime minister Najib Razak was facing jail last night after a landmark decision in which the High Court found him guilty of all charges in the first trial to test corruption allegations flowing from the multibillion-dollar 1MDB scandal.

Page 13: Commonwealth Bank chief executive Matt Comyn and Seek co-founder Paul Bassat have described innovation as being critical not only to the success of the bank but also the nation, as the pair unveiled a joint venture to seek out world-class technology that could be rolled out to CBA customers.

Page 15: Unsecured creditors of collapsed swimwear company Seafolly have been urged to approve a rescue package proposed by its private equity owner, L Catterton, even though some will receive between only 3¢ and 50¢ in the dollar.

Woodside Petroleum is ‘‘considering all its options’’ after the shock news of a deal that would have Russian oil heavyweight Lukoil – the subject of US sanctions – join as a major partner in its troubled $US4.2 billion ($5.9 billion) oil project in Senegal.

Chevron has hosed down union claims that cracks in critical equipment needed to keep its Gorgon LNG project running are so bad they cannot be repaired.

 

 

The Australian

Page 1: Attorney-General Christian Porter has launched a stinging attack on Westpac and its new chairman, John McFarlane, over their dealings with the financial crimes regulator, accusing the big-four bank of arrogance and running a PR campaign while in delicate mediation talks over millions of transgressions of anti-money laundering laws.

Page 4: Just one in five aged-care workers across the nation had done the federal government’s personal protection training module on the eve of the Victorian coronavirus spike, The Australian can reveal.

Page 5: Victoria Police is on red alert ahead of plans by coronavirus deniers to stage a public demonstration in Melbourne as the number of cases of the highly infectious disease soars.

Almost 3300 travellers — some excused from quarantine because they are essential workers with a special category of exemption — have been arriving each week in Western Australia from interstate despite its “hard border closure”, the Federal Court has heard.

Page 6: Australian governments and companies must significantly boost funding for research and development across new technologies and emerging industries to reposition the nation as a major manufacturing player in the global supply chain.

Page 13: Australia’s oil and gas industry will present a reform blueprint to Scott Morrison to kick-start an economic recovery amid fears the sector is struggling to recover from a COVID-19 oil crash while the nation’s big renewable players have warned the pandemic risks slashing investment and derailing the clean energy transition.

Page 15: The pandemic has led to a 27 per cent drop in smartphone sales in Australia, according to research firm Kantar.

Page 21: Visa applications from international students based overseas slowed to a trickle in the months after COVID-19 travel bans were introduced, according to figures from the Department of Home Affairs.

 

 

The West Australian

Page 3: Two former Penrhos College teachers accused of sexually assaulting students at the elite private girls’ school more than 30 years ago will fight the charges against them.

Page 4: Demand for operators of heavy machinery — such as dump trucks, excavators and graders — has defied the coronavirus pandemic to reach levels last seen at the height of the mining construction boom.

Page 5: Hundreds of WA healthcare workers could be sent to Victoria by the end of the week to assist with the continued coronavirus outbreak in the State.

Page 6: Mark McGowan fears rising tensions with China will lead the Asian superpower to impose further trade sanctions against more local industries and has urged the Federal Government to “keep on good terms with our customers”.

Federal Finance Minister Mathias Cormann is imploring Mark McGowan to see reason and lift WA’s hard border to allow business to prosper and increase Perth’s chances of hosting the AFL grand final.

Page 7: Mark McGowan’s defence of WA’s border closure has been dealt a blow, with an infectious diseases expert telling the Federal Court a “targeted quarantine regime” aimed only at interstate travellers from virus hotspots will be more effective and sustainable.

Page 19: People will be able to have a prescription issued and filled without leaving their front door from September.

Business: Investors are bracing for a 20 per cent fall in company profits and a $30 billion dividend hit as Australia’s biggest employers prepare to lay bare the damage wreaked by COVID-19.

Perth-based start-up ClimateClever is gearing up to launch into the corporate sector after a big boost to revenue during COVID-19.

Shares in Andrew Forrest’s Fortescue Metals Group have stormed through $17, putting the fast-running iron ore miner within striking distance of WA’s biggest company, Wesfarmers.

West Australians have been spared the worst of the country’s COVID unemployment crisis, with the latest data showing the State has the lowest percentage of payroll job losses compared with the rest of the nation.

Shares in market darling Musgrave Minerals surged to a new high yesterday after it reported more shallow, bonanza-grade drilling results from its Cue project, 540km north-east of Perth.

Critics of a proposed beachfront development at Margaret River are in a dispute with the developer over where the shoreline will sit in 100 years time, with opponents claiming some houses could end up underwater.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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