31/07/2020 - 06:55

Morning Headlines

31/07/2020 - 06:55

Bookmark

Save articles for future reference.

Perth Mint stumbles into tax havens

Morning Headlines

Perth Mint stumbles into tax havens

The Perth Mint signed the Bank of Cyprus up as a customer this year despite the US State Department declaring the island a ‘‘major money-laundering jurisdiction’’ and warning about its links to Russian organised crime. The Fin

Clean energy fund lifeline for lithium miner

The Morrison government has thrown struggling lithium miner Pilbara Minerals a finance lifeline as the market for the key battery material remains in the doldrums. The Fin

Record-breaking FMG unfazed by rising rival

Fortescue Metals Group says African iron ore will pose no threat to its lucrative business in the next five years as it vowed to continue surprising investors on what its export infrastructure can achieve. The Fin

Online AGMs allowed for another six months

Listed companies will be allowed to conduct online shareholder meetings and sign documents electronically for an extra six months, under an extension of COVID-19 emergency measures announced by Treasurer Josh Frydenberg. The Fin

Mining jobs up in pandemic

Employment opportunities in WA’s booming mining sector have grown during the COVID-19 pandemic while most other States have gone backwards, new research has revealed. The West

Virus shock to budget not over yet

The federal government’s economic recovery outlook has already been dashed only a week after its budget update, due to a looming harsher lockdown in Victoria and tighter Queensland border restrictions weighing on business activity and hurting confidence across the country. The Fin

Griffin Coal mine the key for Bluewaters

Distressed investors buying up debt in the Bluewaters Power Station in Western Australia are probably hoping the company can gain control of the Griffin Coal mine that provides fuel for the asset, market analysts say. The Aus

96pc backing hard border

Mark McGowan is riding an unprecedented wave of social media popularity as tens of thousands of West Australians flocked online to show their support for the Premier’s border stance yesterday. The West

Hit to trade as pandemic fears weigh down customers

WA small business owners feel they are “not out of the woods” yet, with the pandemic still weighing on sentiment despite there being no community transmission. The West

 

 

The Australian Financial Review

Page 1: The federal government’s economic recovery outlook has already been dashed only a week after its budget update, due to a looming harsher lockdown in Victoria and tighter Queensland border restrictions weighing on business activity and hurting confidence across the country.

Page 3: The Perth Mint signed the Bank of Cyprus up as a customer this year despite the US State Department declaring the island a ‘‘major money-laundering jurisdiction’’ and warning about its links to Russian organised crime.

Page 6: Scott Morrison has called on West Australian Premier Mark McGowan to relax his border restrictions, saying there is no reason why the state should be closed to jurisdictions that pose no health threat.

Page 7: People who want to deftly navigate this era of societal recalibration should accept we are living through a uniquely ‘‘liminal’’ time between what the world looked like before COVID-19 and how it will look afterwards.

Page 8: Listed companies will be allowed to conduct online shareholder meetings and sign documents electronically for an extra six months, under an extension of COVID-19 emergency measures announced by Treasurer Josh Frydenberg.

Page 10: Australian and Singapore tax authorities are in negotiations over Rio Tinto’s tax arrangements, after the miner asked the two nations to resolve which of them could claim tax on profits made by its Singapore marketing hub.

Page 17: Fortescue Metals Group says African iron ore will pose no threat to its lucrative business in the next five years as it vowed to continue surprising investors on what its export infrastructure can achieve.

Page 19: CIMIC, Australia’s biggest construction group, has blamed COVID-19 for a slump in new projects as it scrapped its interim dividend and reported a 14 per cent fall in net profit to $316.6 million.

Page 22: Manufacturers are questioning whether the Australian Energy Market Operator’s $25 billion plan to build out the power grid over the next 20 years will drive up consumers’ bills without providing much benefit, after estimated cost blowouts of up to 65 per cent in some transmission projects.

Page 23: The nation’s embattled liquefied natural gas industry has been hit by more large write-downs, as French energy major Total SA adds $US800 million ($1.1 billion) of impairments on its Australian assets to about $US7 billion already announced across the sector.

The Morrison government has thrown struggling lithium miner Pilbara Minerals a finance lifeline as the market for the key battery material remains in the doldrums.

 

 

The Australian

Page 3: For months, the blue tables inside the padlocked headquarters of Table Tennis Western Australia have gathered dust as the powerbrokers of the state’s table tennis scene slug it out in court for control.

Page 6: Scott Morrison’s manufacturing plan will focus on increasing Australia’s supply chain, expanding pharmaceutical, battery and medi-tech manufacturing and improving the research and development link between universities and business.

Page 9: Australia‘s largest printing company, Ovato, has been accused of moving to slash the pay and conditions of 850 workers ahead of making 300 redundant.

Page 16: Distressed investors buying up debt in the Bluewaters Power Station in Western Australia are probably hoping the company can gain control of the Griffin Coal mine that provides fuel for the asset, market analysts say.

Page 17: A Crown Resorts executive has admitted its board could have been better informed about public legal cases revealing money-laundering through its casinos before its directors signed a bombshell newspaper advertisement last year rejecting claims Crown failed to conduct adequate due diligence on its junket partners.

Tech giant Uber is adamant its “flying taxis” are not pure science fiction and has recommitted to running trials of the futuristic vehicles in Melbourne despite the COVID-19 pandemic and reports the program was facing the axe.

Page 24: Prospective undergraduates have more choices than ever before, with most universities finalising virtual open days to run over the next three months.

 

 

The West Australian

Page 3: Seven West Media has secured a new debt deal with its banks, providing the company with more financial certainty amid the challenging backdrop of COVID-19.

Page 5: Perth startup and co-working champion Brodie McCulloch will today officially become the fifth contender for Perth lord mayor.

Page 6: Premier Mark McGowan has pleaded for the Commonwealth Government to pull its support from billionaire Clive Palmer’s legal bid to abolish the State border, saying it did not understand the “depth of feeling” around the coronavirus in WA.

Mark McGowan is riding an unprecedented wave of social media popularity as tens of thousands of West Australians flocked online to show their support for the Premier’s border stance yesterday.

Dietitians have criticised the latest use of a toddler favourite to market processed food to children, saying it uses “pester power” to drive sales.

Business: Home building approvals nationally fell to an eight-year low last month as the housing sector struggled in the pandemic.

Australian agriculture is at further risk from souring diplomatic tensions with China, former Australian foreign minister Alexander Downer has warned.

Employment opportunities in WA’s booming mining sector have grown during the COVID-19 pandemic while most other States have gone backwards, new research has revealed.

Pilbara pastoralist, miner and chopper pilot Brent Smoothy is selling the sublease and cattle on Sylvania Station near Newman to concentrate on his multiple other businesses.

Genworth Mortgage Insurance has suffered a $90 million loss in the first half after taking a $181.8m pre-tax writedown on the acquisition of new mortgage contracts in the first quarter due to the effects of COVID-19.

WA small business owners feel they are “not out of the woods” yet, with the pandemic still weighing on sentiment despite there being no community transmission.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options