10/08/2020 - 06:49

Morning Headlines

10/08/2020 - 06:49

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Forrests, Woolies back seaweed feed

Multibillionaire Andrew Forrest, supermarket giant Woolworths and Australian agribusiness GrainCorp will become joint venture partners in a coup for CSIRO in commercialising a seaweed product found to accelerate cattle growth and cut their hefty greenhouse gas emissions to near zero. The Fin

All aboard Europe’s lithium bandwagon

A gang of Perth mining juniors is clambering aboard Europe’s lithium bandwagon, shrugging off the global price doldrums and betting that European governments and car makers will deliver an electric vehicle and battery bonanza. The Fin

Partner claims Deloitte misled Rio Tinto

A Deloitte Australia partner suing the firm for age discrimination alleges the firm engaged in misleading and deceptive conduct in the way it won a five-year global contract with mining giant Rio Tinto. The Fin

Gina fails to block Rhodes

Gina Rinehart has failed in her latest bid to stop Supreme Court legal actions over the riches of the Hope Downs iron ore mines. The West

Medicines to be priority

The Morrison government has ordered Australia Post to prioritise the delivery of medicines and other urgent goods, amid growing fears the impact of Victoria’s crippling lockdowns on the postal service will reverberate nationally. The Fin

Miners set for wave of M&A

The Australian mining sector is set for a fresh wave of mergers and acquisitions over the next few years, according to EY M&A partner Paul Murphy, as companies look to take advantage of high commodity prices, strong balance sheets, and an improved outlook for the sector as the coronavirus gloom lifts. The Aus

Call to open borders or risk loss of industry

Global education agents need to see ‘‘proof of life’’ in Australian university admissions or they will send students to more welcoming regimes in Britain and Canada, the International Education Association of Australia says. The Fin

Giddy up! Tabcorp mulls $600m raising for results day

Tabcorp is mulling a $500 million-plus equity injection to shore up its balance sheet and help it get through the COVID-19 pandemic. The Fin

330,000 jobs at risk in retail, building

More than 330,000 retail and construction jobs could disappear by March as the federal government winds back its stimulus measures, says consulting firm McKinsey, which anticipates a “second wave” of unemployment almost as large as the first. The Aus

New RPH is ‘years away’

A new $2 billion Royal Perth Hospital will not be built until after King Edward Memorial Hospital is replaced, according to Premier Mark McGowan. The West

 

 

The Australian Financial Review

Page 1: The Morrison government has ordered Australia Post to prioritise the delivery of medicines and other urgent goods, amid growing fears the impact of Victoria’s crippling lockdowns on the postal service will reverberate nationally.

Page 3: A Deloitte Australia partner suing the firm for age discrimination alleges the firm engaged in misleading and deceptive conduct in the way it won a five-year global contract with mining giant Rio Tinto.

Multibillionaire Andrew Forrest, supermarket giant Woolworths and Australian agribusiness GrainCorp will become joint venture partners in a coup for CSIRO in commercialising a seaweed product found to accelerate cattle growth and cut their hefty greenhouse gas emissions to near zero.

Page 5: Landlords face further pain as the states look at rolling over emergency rent relief measures for commercial and residential tenants off the back of the national economic shockwave caused by Victoria’s surge of coronavirus cases.

Page 8: A commitment by the French designer of the navy’s new $90 billion fleet of submarines to source at least 60 per cent of components from Australian companies is yet to be locked in, more than six months after it was offered amid complaints local industry is being denied work.

Page 9: The Perth Mint has been forced to replace its long-standing auditor and overhaul its ethical sourcing regime but was not stripped of its London accreditation despite revelations it purchased tainted gold from a convicted killer in Papua New Guinea.

Page 12: The nations hardest hit by the coronavirus pandemic passed a series of grim milestones at the weekend, with little sign of respite from new infections and deaths rising at alarming rates.

Page 14: Global education agents need to see ‘‘proof of life’’ in Australian university admissions or they will send students to more welcoming regimes in Britain and Canada, the International Education Association of Australia says.

Page 15: Some of the nation’s largest companies will make their down payments on an earnings season expected to deliver a 21 per cent reversal in net profits this week largely due to the COVID-19 pandemic’s impact on demand for their products and services.

Page 16: Tabcorp is mulling a $500 million-plus equity injection to shore up its balance sheet and help it get through the COVID-19 pandemic.

Page 17: Rich List entrepreneur Ruslan Kogan resolved to turn his money towards investing in more early-stage technology start-ups, as the COVID-19-induced surge in the value of his eponymous online retailer blasted its value through $2 billion.

Page 18: Boards are facing pressure to ensure all directors are available and avoid cherry-picking questions at online shareholder meetings, which have gone digital during the pandemic.

Page 20: Incitec Pivot chief executive Jeanne Johns has been publicly challenged on calls for east coast producers to make available long-term gas supplies at current, near record low spot prices, with respected energy analyst Mark Samter describing her stance as ‘‘frankly disgraceful’’.

A gang of Perth mining juniors is clambering aboard Europe’s lithium bandwagon, shrugging off the global price doldrums and betting that European governments and car makers will deliver an electric vehicle and battery bonanza.

 

 

The Australian

Page 1: Australian Federal Police officers will be deployed to Africa, Europe and the US as authorities pursue previously out-of-reach cyber criminals including scammers, international sexual predators and intellectual property thieves.

Page 2: The nation’s top spy agency has warned foreign governments are targeting and exploiting diaspora communities, using threats of harm and intimidation against individuals and their families in Australia and overseas.

Page 5: More than 330,000 retail and construction jobs could disappear by March as the federal government winds back its stimulus measures, says consulting firm McKinsey, which anticipates a “second wave” of unemployment almost as large as the first.

Page 13: Australia’s banks are quietly taking an axe to interest rates paid on savings accounts in one of their last lines of defence against a COVID-19-induced economic recession, record low interest rates and an intensifying war for mortgage market share.

Page 14: Global buyout fund Brookfield is likely to have walked away from an acquisition of Shell’s $US2.5bn ($3.5bn) worth of QCLNG assets on offer due to the low returns and its tax structure, say sources.

Page 15: The Australian mining sector is set for a fresh wave of mergers and acquisitions over the next few years, according to EY M&A partner Paul Murphy, as companies look to take advantage of high commodity prices, strong balance sheets, and an improved outlook for the sector as the coronavirus gloom lifts.

Page 19: Twitter has had preliminary talks about a potential tie-up with Tik-Tok, the video-sharing app that the Trump administration has declared a national security threat due to its Chinese ownership.

 

 

The West Australian

Page 3: If the Federal Government pumped an extra $5 billion a year into childcare it would boost Australia’s GDP by about $11 billion and add $150,000 to the lifetime earnings of the average mum.

Scott Morrison’s national approval ratings have been largely unaffected by Victoria’s coronavirus outbreak or the WA hard border spat, according to the latest Newspoll.

Page 4: Finance Minister Mathias Cormann has defended the Federal Government’s backflip on WA’s hard border policy, arguing Mark McGowan himself had previously “ridiculed” the idea of shutting the borders.

Page 7: The WA retail sector will lose nearly $1 billion a year if the Government rolls back welfare payments, according to Labor.

West Australians were more likely to turn to alcohol because of stress during COVID-19 lockdown than the rest of the nation, a new survey shows.

Page 12: A new $2 billion Royal Perth Hospital will not be built until after King Edward Memorial Hospital is replaced, according to Premier Mark McGowan.

Business: Gina Rinehart has failed in her latest bid to stop Supreme Court legal actions over the riches of the Hope Downs iron ore mines.

WA’s resources sector is facing a skills crunch reminiscent of the last mining boom, with estimates the state will need more than 8000 extra workers in the next 12-18 months.

Billions of dollars in unpaid super could soon be arriving in workers’ accounts as businesses are forced to cough up payments.

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