21/08/2020 - 07:02

Morning Headlines

21/08/2020 - 07:02

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D-Day for Chevron’s crack study on Gorgon

Morning Headlines

D-Day for Chevron’s crack study on Gorgon

Chevron’s D-Day on the future of the Gorgon LNG plant has arrived, with the US giant expected to find out today whether it needs to shut the $US54 billion facility because of cracks in propane-filled heat exchangers. The West

PM, business pressure states to reopen borders

The Morrison government has declared today’s national cabinet meeting a flashpoint for the future of the federation, amid an avalanche of business criticism over the economic and personal tolls being caused by arbitrary state border closures. The Fin

Calls for lithium support

Mining lobby groups are seeking royalty relief and other government support for WA’s ailing lithium sector to secure its future in a decarbonised world. The West

FIRB pushes ‘fast pass’ for friendly buyers

Foreign Investment Review Board chairman David Irvine is proposing a new system that gives approved foreign buyers a regulatory ‘‘fast pass’’, as the government slows and rejects approvals for China-backed bidders. The Fin

Call to arms for Indigenous flag

Minister for Indigenous Australians Ken Wyatt is calling on AFL fans attending this weekend’s Indigenous round to wear the Aboriginal flag as an ugly stoush deepens over the use of the First Nations symbol. The West

KPMG retirement clause could threaten government work

Federal politicians from both sides of the aisle have slammed the compulsory retirement age of 58 imposed by KPMG on its partners as archaic, potentially putting the $200 million-plus the firm pulls in revenue from Commonwealth contracts annually at risk. The Fin

Qantas skids to loss, queries border logic

Qantas has approached state, territory and federal governments again to help prop up the local aviation sector and has pleaded for an easing of lockdowns after limping to a $1.96 billion statutory after-tax loss in the 2020 financial year. The Fin

Mirvac ‘positioned for recovery’ as profit hit

Property developer Mirvac is positioning to come out of the coronavirus pandemic stronger by shifting further into build-to-rent apartments, and is launching more housing projects even as the prices stall across much of the country. The Aus

Clive’s war of words

Not content with trying to demolish WA’s hard border and claim $28 billion from the State Government, Clive Palmer is now personally suing Mark McGowan. The West

SW river name plan

There are plans for a dual-naming of the Margaret River to recognise its important role in Aboriginal heritage. The West

 

 

The Australian Financial Review

Page 1: The Morrison government has declared today’s national cabinet meeting a flashpoint for the future of the federation, amid an avalanche of business criticism over the economic and personal tolls being caused by arbitrary state border closures.

Hundreds of insolvency firms are using JobKeeper because their revenues have crashed after the Morrison government’s moratorium on insolvent trading prevented thousands of struggling businesses from entering administration.

Page 3: Foreign Investment Review Board chairman David Irvine is proposing a new system that gives approved foreign buyers a regulatory ‘‘fast pass’’, as the government slows and rejects approvals for China-backed bidders.

Federal politicians from both sides of the aisle have slammed the compulsory retirement age of 58 imposed by KPMG on its partners as archaic, potentially putting the $200 million-plus the firm pulls in revenue from Commonwealth contracts annually at risk.

Page 4: Ballina, Broome and Cairns might never have been the sexiest routes on the Qantas network, but they’ve emerged as some of the few bright spots for the largely grounded airline.

Page 5: Diplomats are worried about almost 3000 ‘‘vulnerable’’ Australians overseas unable to get back home, as the federal government and states refuse to relax international travel restrictions despite a growing backlash.

Page 10: Card fraud is declining but scammers are turning to stealing personal credentials as COVID-19 has seen a large switch to online services.

Page 11: Opposition Leader Anthony Albanese is battling to contain discontent in his party, fuelled by regional MP Joel Fitzgibbon predicting Labor was headed for a split unless it shifted to the right, especially on energy policy.

Page 13: The Trump administration has accelerated a push to sell the F-35 stealth fighter and advanced armed drones to the United Arab Emirates, at a time when the Gulf nation is working with Washington on a historic plan to formalise diplomatic ties with Israel, according to American officials familiar with the discussions.

Page 15: Qantas has approached state, territory and federal governments again to help prop up the local aviation sector and has pleaded for an easing of lockdowns after limping to a $1.96 billion statutory after-tax loss in the 2020 financial year.

Origin Energy chief executive Frank Calabria has called for ‘‘realistic’’ expectations of the costs of east coast gas production and efficient regulatory approvals to allow for gas to underpin the hoped-for economic recovery post COVID-19.

Page 16: Wine business Vinomofo is seeking to cash in on investor appetite for online retailers and COVID-19-proof businesses with a sharemarket float that could value it at more than $300 million.

Page 17: Coca-Cola Amatil chief Alison Watkins is searching for more ways to cut costs to offset weaker beverage volumes as the coronavirus crisis continues to dent demand for carbonated soft drinks and bottled water.

Page 18: The retail rents war has flared up anew with more than 100 Mosaic Brands stores at Westfield shopping malls forced to close their doors by their landlord Scentre Group.

Page 19: South32 chief Graham Kerr has warned the pandemic is much more than a cyclical downturn in commodity prices as he defended his company’s cautious approach to spending and shareholder returns.

Page 22: Cost-cutting and an emergency capital raising early in the COVID-19 pandemic will serve Southern Cross Austereo well when the health crisis ends, the radio and regional television broadcaster’s chief executive Grant Blackley says.

 

 

The Australian

Page 1: Scott Morrison will personally appeal to state and territory leaders to break the border deadlock, which has sparked a new crisis over medical emergencies, agriculture and aviation, following increasing calls from families and businesses for the federal government to intervene.

Lawyers acting for former high-profile ABC journalist Emma Alberici have accused the broadcaster of kowtowing to personal complaints by former prime minister Malcolm Turnbull and senior ministers, alleging editorial managers had repeatedly tried to silence her reporting so as not to upset the government.

Page 2: Opposition energy spokesman Mark Butler has signalled he will not back down to Joel Fitzgibbon’s plea for Labor to adopt a more moderate climate change agenda, with the Left faction heavyweight urging environmental activists to push the party to be “more ambitious and more courageous”.

Page 7: Iron ore magnate Clive Palmer says Mark McGowan has defamed him, adding a writ against the West Australian Premier to his legal battles with the state Labor government.

Page 13: Qantas chief Alan Joyce has warned of at least another year of pain for the airline, with no international flying expected and domestic services at the mercy of state border closures.

The powerful property industry has warned that an extension of the Morrison government’s leasing code for small tenants until March next year could see the overall cost of the scheme blow out to about $15bn.

Page 15: Australia’s biggest health insurer, Medibank, is holding firm on its October premium increase, as its competitors, including rival Bupa, announce they are pausing rises for another six months.

Page 17: Property developer Mirvac is positioning to come out of the coronavirus pandemic stronger by shifting further into build-to-rent apartments, and is launching more housing projects even as the prices stall across much of the country.

Page 18: There might have been no better time to be the owner of a national hardware chain, with Bunnings once again driving the majority of Wesfarmers’ earnings and emerging as one of the most successful retailers in Australia in the midst of the COVID-19 pandemic.

 

 

The West Australian

Page 4: Minister for Indigenous Australians Ken Wyatt is calling on AFL fans attending this weekend’s Indigenous round to wear the Aboriginal flag as an ugly stoush deepens over the use of the First Nations symbol.

Page 8: Travellers arriving in WA with a criminal history or those assessed “high risk” will be forced to wear monitoring bracelets on their ankles while completing a fortnight in hotel quarantine.

Page 9: Not content with trying to demolish WA’s hard border and claim $28 billion from the State Government, Clive Palmer is now personally suing Mark McGowan.

Page 16: There are plans for a dual-naming of the Margaret River to recognise its important role in Aboriginal heritage.

Page 26: Russian opposition politician Alexei Navalny is in a coma and on a ventilator in a hospital intensive care unit in Siberia after falling ill from suspected poisoning during a flight.

Business: Chevron’s D-Day on the future of the Gorgon LNG plant has arrived, with the US giant expected to find out today whether it needs to shut the $US54 billion facility because of cracks in propane-filled heat exchangers.

HealthEngine has been fined $2.9 million after the Federal Court found it engaged in “misleading conduct” by giving patient data to private health insurance brokers and publishing misleading patient reviews.

About 3000 Medibank and ahm customers on government support payments — including at least 150 from WA — have accessed the company’s 50 per cent premium waiver.

A leading employment and workplace adviser has predicted WA’s gender pay gap will progressively increase over the next two years and could get as high as “30 per cent in the worst-case scenario”.

Wesfarmers chief Rob Scott has warned that Australia risks more long-term economic damage unless COVID-19 restrictions are eased to allow businesses able to operate in a safe and “flexible” environment to keep their doors open.

Mining lobby groups are seeking royalty relief and other government support for WA’s ailing lithium sector to secure its future in a decarbonised world.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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