30/07/2020 - 06:45

Morning Headlines

30/07/2020 - 06:45

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Morning Headlines

Fears Chinese investors targeted to ‘game’ visa scheme

The Western Australian government’s Small Business Development Corporation said it had ‘‘identified and reported a number of integrity risks’’ associated with the suite of visas available to potential migrants under the Australian government’s business innovation and investment program. The Fin

Jacques ready for inquiry

Rio Tinto chief executive Jean-Sebastien Jacques will front a parliamentary committee next week to explain how the mining giant came to destroy two ancient Aborginal rock shelters in the Pilbara. The West

Airport line on track but who’ll catch the train?

The first tracks on the Airport Line have been laid ahead of its opening late next year, but with COVID-19 set to disrupt air travel for years, the focus is on how to get FIFO workers to fill the train. The West

Super grab pours $42bn into savings

Almost $42bn will be withdrawn from workers’ retirement savings, exceeding initial forecasts by nearly 50 per cent and fuelling concerns among superannuation funds that the government is misusing the system to help it navigate the coronavirus crisis. The Aus

CBA investors better placed in payout cap

Commonwealth Bank shareholders have escaped the harshest interpretation of the clampdown on dividends after the prudential regulator confirmed a new 50 per cent cap on payout ratios would apply only to second-half earnings and not the full year. The Fin

1000 Westpac jobs called home

Westpac will invest $45m a year to bring 1000 loan-processing and call-centre jobs back to Australia, prompting calls by the Finance Sector Union for other banks to take similar action. The Aus

Optus embraces NBN amid disruption

Optus will sign more deals with the NBN rather than build out its own fibre network, as it reorients its enterprise business strategy to meet the needs of the post-COVID-19 workplace. The Fin

NAB slashes rural branch hours

Australia’s biggest agribusiness lender, NAB, is slashing the opening hours of more than 100 of its rural branches, further limiting the number of physical interactions available to people in country areas as it dives deeper into digital banking. The Fin

Deniers positive about profiting

Coronavirus deniers are trying to make a profit out of the pandemic, selling crystals as protection against 5G radiation as well as pushing branded merchandise. The Aus

Record fall in prices leads to deflation

Prices of goods and services have fallen by the most since records began in the 1940s as the coronavirus pandemic up-ends the economy. The West

 

 

The Australian Financial Review

Page 1: The federal government is considering an expansion of paid pandemic leave to prevent the further spread of coronavirus, as Scott Morrison expressed growing concern at the national economic impact of the Victorian crisis.

Page 2: The Western Australian government’s Small Business Development Corporation said it had ‘‘identified and reported a number of integrity risks’’ associated with the suite of visas available to potential migrants under the Australian government’s business innovation and investment program.

Company revenues – a key determinant in whether businesses will be eligible to use emergency industrial relations measures when they are no longer on JobKeeper – have struggled to recover in the months following the first COVID-19 hit in April.

Page 6: Strengthening ties with America, Japan and India creates a ‘‘strategic balance’’, Prime Minister Scott Morrison says, as Australia and the US signed a secret 10-year agreement on defence co-operation to ‘‘deter coercive acts and the use of force’’ in the Indo-Pacific amid rising tensions with China.

Page 10: Amazon chief executive Jeff Bezos on Tuesday (Wednesday AEST) said the company’s ‘‘customer obsession’’ had fuelled its business success, as he attempted to counter congressional antitrust concerns a day ahead of a US House of Representatives hearing on the power of tech giants.

Page 12: Commonwealth Bank shareholders have escaped the harshest interpretation of the clampdown on dividends after the prudential regulator confirmed a new 50 per cent cap on payout ratios would apply only to second-half earnings and not the full year.

The Australian Securities Exchange is working closely with the Australian Securities and Investments Commission to ensure listed companies fully disclose the extent of JobKeeper payments and rent relief from landlords, which many stockbrokers think are propping up the sharemarket.

Page 15: Optus will sign more deals with the NBN rather than build out its own fibre network, as it reorients its enterprise business strategy to meet the needs of the post-COVID-19 workplace.

 

 

The Australian

Page 1: Almost $42bn will be withdrawn from workers’ retirement savings, exceeding initial forecasts by nearly 50 per cent and fuelling concerns among superannuation funds that the government is misusing the system to help it navigate the coronavirus crisis.

Page 4: The biggest bout of consumer price deflation in 72 years has emerged amid the sharp economic downturn, driven by free childcare, plunging petrol prices and falling rents.

Page 5: Coronavirus deniers are trying to make a profit out of the pandemic, selling crystals as protection against 5G radiation as well as pushing branded merchandise.

Page 13: Australia’s biggest agribusiness lender, NAB, is slashing the opening hours of more than 100 of its rural branches, further limiting the number of physical interactions available to people in country areas as it dives deeper into digital banking.

Page 15: Insurers are likely to face large financial payouts if an upcoming court case over business interruption insurance moves ahead, legal experts say.

Page 17: Westpac will invest $45m a year to bring 1000 loan-processing and call-centre jobs back to Australia, prompting calls by the Finance Sector Union for other banks to take similar action.

AMP says it will defend a class action lawsuit brought against it by its own financial advisers over its controversial decision to slash the amount it would pay them for their businesses.

 

 

The West Australian

Page 3: A simple blood test could diagnose Alzheimer’s disease decades before symptoms begin, research suggests.

Page 4: Domestic violence and improving the lives of Indigenous women will be a key focus of the updated Closing The Gap targets which come into effect today.

Page 8: Scott Morrison says it is “highly likely” WA will lose its battle to keep the border closed, but an infectious diseases expert yesterday conceded in the Federal Court that a hard border was “more effective” in keeping COVID-19 out than a “targeted quarantine regime”.

Page 12: Australian wine producers and exporters will now enjoy zero tariffs into Canada after trade restrictions were resolved.

Page 14: Young Australians were being “underpaid” to the tune of thousands of dollars a year even before the worst of the coronavirus crisis hit, according to a new Productivity Commission report.

Business: The first tracks on the Airport Line have been laid ahead of its opening late next year, but with COVID-19 set to disrupt air travel for years, the focus is on how to get FIFO workers to fill the train.

Rio Tinto chief executive Jean-Sebastien Jacques will front a parliamentary committee next week to explain how the mining giant came to destroy two ancient Aborginal rock shelters in the Pilbara.

Orbital Corp’s fast-running shares have kicked higher as the remade maker of drone engines has impressed investors with its rising sales into the US.

WA-made cheddar cheese will hit supermarket shelves for the first time in 14 years next month, creating 10 jobs and stronger demand for locally produced fresh milk.

A group of WA’s most senior female legal practitioners say the coronavirus pandemic has been a “game changer” in terms of helping break down the barriers in a profession where men still dominate its highest ranks.

Prices of goods and services have fallen by the most since records began in the 1940s as the coronavirus pandemic up-ends the economy.

Australia’s biggest grain exporter has started its annual recruitment drive and is seeking more than 1000 casual workers, but it anticipates challenges because of COVID-19 restrictions.

Australia’s biggest car dealer says its WA sales have rebounded to pre-coronavirus levels but fears a Victoria-like second wave that could send the rest of the country back into tighter lockdowns.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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