25/08/2020 - 06:51

Morning Headlines

25/08/2020 - 06:51

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Government urged to cut red tape to create 32,000 jobs

Morning Headlines

Government urged to cut red tape to create 32,000 jobs

More than 32,000 jobs could be created in the mining sector within five years if the Federal Government cuts red tape and corporate taxes, and makes foreign investment conditions more amenable. The West

Pyjama-led policy a drag on public sector productivity

As almost two-thirds of federal public servants, or 93,000 staff, work from home, their masters are worried about the sustainability of pyjama policymaking, rising costs to taxpayers and good government. The Aus

Skills squeeze as FMG boosts growth spend

Fortescue Metals boss Elizabeth Gaines has warned that Western Australia’s hard border could create a skills squeeze as the cashed-up miner prepares to increase spending on new mines in the year ahead by up to 70 per cent. The Fin

Turnover must fall 10pc to retain IR exemptions

Companies not eligible for the new JobKeeper subsidy because they have started to recover will need to demonstrate a 10 per cent reduction in turnover to remain eligible for industrial relations exemptions. The Fin

Bali backtracks on international visitors

Indonesia has pulled back on plans to reopen Bali for international tourists, citing COVID-19 infection rates and the Australian government’s travel ban. The Fin

Qantas ejects international boss

Qantas has shed international boss Tino La Spina from the executive team as it prepares for an extended hiatus on long-haul services and tests investor appetite for a new debt-raising exercise amid the COVID-19 pandemic. The Fin

Aussie jobs go as Accenture sacks 25,000 staff globally

Hundreds of Australian staff are being fired at global technology consulting giant Accenture as it moves to cut at least 5 per cent of its global workforce as a result of plummeting demand amid the COVID-19 pandemic. The Fin

Rio Tinto chairman backs Jacques team on Juukan

Rio Tinto chairman Simon Thompson has declared chief executive Jean-Sebastien Jacques and two of his top executives will survive the fallout from destruction of Juukan Gorge, despite being ‘‘partially responsible’’, because they are best placed to repair the mining giant’s battered reputation.  The Fin

Big banks face $1bn bill for poor advice

Compensation payments and offers made to customers for poor advice by six of the nation’s top financial institutions have surged to $1.05bn, up by $296m in the six months to June 30. The Aus

SRG’s staff cash bonus

More than 10,000 staff working on the frontline at some of Australia’s best-known outdoors stores will receive bonuses of up to $1000 for their efforts during last summer’s east coast bushfires and COVID-19 pandemic. The West

 

 

The Australian Financial Review

Page 1: AMP chief executive Francesco De Ferrari faces enormous pressure from staff, shareholders and institutional clients to radically overhaul the business model and culture of the 170-year-old wealth management firm after the resignations of chairman David Murray, former Treasury secretary John Fraser and new AMP Capital boss Boe Pahari.

It’s not just founder Andrew Forrest who is getting rich from a dream run by iron ore powerhouse Fortescue Metals Group as he collects $1.96 billion in dividends for the year.

Page 3: Companies not eligible for the new JobKeeper subsidy because they have started to recover will need to demonstrate a 10 per cent reduction in turnover to remain eligible for industrial relations exemptions.

Page 8: More than two dozen peak business organisations have written to every member of the national cabinet, warning a complex and inconsistent approach to borders was causing enormous harm to the economic recovery.

Page 12: Indonesia has pulled back on plans to reopen Bali for international tourists, citing COVID-19 infection rates and the Australian government’s travel ban.

Page 14: Fortescue Metals boss Elizabeth Gaines has warned that Western Australia’s hard border could create a skills squeeze as the cashed-up miner prepares to increase spending on new mines in the year ahead by up to 70 per cent.

Rio Tinto chairman Simon Thompson has declared chief executive Jean-Sebastien Jacques and two of his top executives will survive the fallout from destruction of Juukan Gorge, despite being ‘‘partially responsible’’, because they are best placed to repair the mining giant’s battered reputation.

Page 16: St Barbara Limited managing director Craig Jetson has promised sweeping changes to the way the company operates as the gold miner looks to a future.

Page 17: Shareholders in ailing building products group Boral will miss out on a final dividend for the first time in 31 years as profits tumble and the group takes the knife to the value of its US operations as part of $1.35 billion in impairments across the company.

Qantas has shed international boss Tino La Spina from the executive team as it prepares for an extended hiatus on long-haul services and tests investor appetite for a new debt-raising exercise amid the COVID-19 pandemic.

Page 18: Myer is hoping to boost online capacity and cut fulfilment costs and delivery times after signing a three-year third-party logistics agreement with Australia Post.

Page 21: Hundreds of Australian staff are being fired at global technology consulting giant Accenture as it moves to cut at least 5 per cent of its global workforce as a result of plummeting demand amid the COVID-19 pandemic.

Page 23: As Google warns Australian YouTube creators that it could stop paying them as part of its advertising revenue sharing stoush with the ACCC, the company has simultaneously launched a new service that will let YouTubers see an explanation of the ad revenue they receive from the tech and media giant.

 

 

The Australian

Page 1: As almost two-thirds of federal public servants, or 93,000 staff, work from home, their masters are worried about the sustainability of pyjama policymaking, rising costs to taxpayers and good government.

Australia’s spy agency has warned universities about the risk to national security from Chinese government recruitment programs, including the Thousand Talents Plan, and has alerted them as recently as May to the potential for collaboration to turn into espionage.

Page 4: Australia’s oil and gas industry is pushing Josh Frydenberg to amend the $1.4bn-a-year Petroleum Resource Rent Tax to unlock gas supplies for the east coast market and investment across the sector.

Page 5: The Morrison government is preparing special exemptions for the Australian cricket team to allow them to quarantine in a luxury hotel where they will be able to train within a “biobubble’’ for two weeks.

Page 6: The Nationals are boasting that they have secured a major victory in their push to alter the Morrison government’s higher education reforms, saying social work and psychology students will be spared from skyrocketing university fees.

Page 14: Analysts say A2 milk’s potential acquisition of a majority stake in NZ-based Mataura Valley Milk would help the dairy giant better manage its complicated relationship with China while growing margins.

Page 17: Compensation payments and offers made to customers for poor advice by six of the nation’s top financial institutions have surged to $1.05bn, up by $296m in the six months to June 30.

 

 

The West Australian

Page 8: More than 32,000 jobs could be created in the mining sector within five years if the Federal Government cuts red tape and corporate taxes, and makes foreign investment conditions more amenable.

Page 3: Australia’s health regulator has formalised a ban on e-cigarettes and heated tobacco products, rejecting suggestions they present a safer alternative for smokers and people trying to quit.

Page 4: Perth’s new smart freeway has been credited with shaving up to 15 minutes off the morning commute but drivers are already defying rules, according to Main Roads.

Page 8: The AFL wants details about the maximum capacity for an Optus Stadium grand final under Phase Four restrictions, Premier Mark McGowan revealed yesterday.

Page 10: Byford station will be built adjacent to the town centre and work on the Thomas Road overpass has been brought forward as the first step towards the long-awaited rail extension.

Business: More than 10,000 staff working on the frontline at some of Australia’s best-known outdoors stores will receive bonuses of up to $1000 for their efforts during last summer’s east coast bushfires and COVID-19 pandemic.

Most Australians have been using COVID-19 stimulus payments on bills and to add to savings, new figures show.

Big businesses that have prospered from WA’s natural endowment should encourage their international trading partners to move to Western Australia to enjoy better access to opportunity in Asia, the State’s Asian Engagement Minister says.

Prominent Kimberley pastoralist Haydn Sale has warned high compliance costs could make major projects “uneconomical” to progress, as he nears final approval on a proposal to grow cattle fodder.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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