15/10/2020 - 06:55

Morning Headlines

15/10/2020 - 06:55

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We’ll give you more of Pilbara spoils: Rio

Mining giant Rio Tinto has promised to increase the economic benefits flowing to traditional owners in the Pilbara as part of a sweeping overhaul of its agreements following the Juukan Gorge controversy. The Aus

Qantas lodges JobKeeper appeal

Key business groups have begun lobbying the federal government to change the rules regarding JobKeeper, claiming an anomaly that has ensnared Qantas may force ‘‘tens of thousands’’ of others to backpay workers, sending many to the wall. The Fin

BHP talks up Tesla deal

BHP’s top bosses have painted a bright future for former outcast Nickel West amid talk the WA operation is being spruced up for a major supply deal with US electric cars billionaire Elon Musk. The West

Tax cut feud renews class warfare tactics

Scott Morrison has accused Labor of failing to learn the lessons of the last election, saying any move to wind back the stage three income tax cuts would be putting ‘‘hard working’’ blue collar workers in the same category as merchant bankers. The Fin

Coles set for record sales this Christmas

Coles is gearing up for record Christmas sales as international travel bans force 1 million more Australians to holiday at home and restrictions on restaurants, cafes and clubs fuel more home cooking. The Fin

Crown board faces proxy backlash

Crown Resorts is facing the growing prospect of an investor revolt at its annual meeting, as further governance failings emerged at the NSW Independent Liquor and Gaming Authority’s inquiry into its suitability to hold a gaming licence. The Aus

Wine ‘next in line’ to feel the wrath of China

The Australian wine industry is being threatened with tariffs as China tries to pile pressure on the federal government, according to industry veteran Doug Rathbone. The Aus

Frozen loans thawing, but only slowly

More than half of the 690,000 home and small business borrowers handed a lifeline from their banks at the height of the pandemic are yet to restart their repayments, ahead of a wave of borrowers reaching the end of their six-month loan deferral periods before Christmas. The Aus

‘Harvest help’ needed through Covid

The head of one of Australia’s biggest fruit and vegetable operations has called on governments to help drive an increase in food exports and assist with labour issues in regional areas as working visa numbers fall. The Aus

Call for ‘sustainable’ border

The impact of WA’s hard border on local businesses has been revealed, with many companies expecting access to customers and skilled workers to get worse. The West

 

 

The Australian Financial Review

Page 1: The reopening of Australia’s two biggest state economies is being held back by uncertainty over community transmission of COVID-19, as the federal government escalates pressure on Daniel Andrews to relax Victoria’s harsh restrictions in line with national hotspot definitions.

Scott Morrison has accused Labor of failing to learn the lessons of the last election, saying any move to wind back the stage three income tax cuts would be putting ‘‘hard working’’ blue collar workers in the same category as merchant bankers.

Page 3: Key business groups have begun lobbying the federal government to change the rules regarding JobKeeper, claiming an anomaly that has ensnared Qantas may force ‘‘tens of thousands’’ of others to backpay workers, sending many to the wall.

Page 9: Virgin Australia chief executive Paul Scurrah predicts business will bounce back quickly once state borders are opened, but warns the federal government will need to provide financial assistance to open international routes.

Page 12: Britain has joined Ireland in shrugging off the advice of its expert scientific and medical advisers on defeating the COVID-19 pandemic’s second wave, rejecting calls for a blanket lockdown as they seek to prop up their flagging economies.

Page 14: Major institutional shareholders in Cleanaway Waste Management have backed the board over its handling of at least four formal complaints against chief executive Vik Bansal alleging bullying conduct, with almost 90 per cent of proxy votes endorsing the company’s bonus plan for executives.

Page 16: Coles is gearing up for record Christmas sales as international travel bans force 1 million more Australians to holiday at home and restrictions on restaurants, cafes and clubs fuel more home cooking.

Rio Tinto has written to 12 traditional owner groups and vowed to modernise land use agreements to ensure ‘‘more impactful realisation of economic and social benefits’’ for its partners.

Page 17: Four in 10 life insurers reported a loss in the 2020 financial year, with more than a billion dollars lost across both the retail and group sectors, a report by KPMG has found.

Afterpay shares have shot to a record high after the financial crimes regulator AUSTRAC told the fast-growing fintech it will not take any legal action, after an audit report found historical breaches of the anti-money laundering regime.

Page 19: Lynas Corporation says it would welcome a helping hand from taxpayers as it races the clock to have a new rare earths processing plant up and running.

 

 

The Australian

Page 1: Gladys Berejiklian’s former boyfriend ran a “cash for visas” business out of his parliamentary office while boasting access to the highest levels of government, a venture that saw him receive tens of thousands of dollars in “success fees” by lying to immigration officials.

Page 2: The Australian wine industry is being threatened with tariffs as China tries to pile pressure on the federal government, according to industry veteran Doug Rathbone.

Page 6: More than half of the 690,000 home and small business borrowers handed a lifeline from their banks at the height of the pandemic are yet to restart their repayments, ahead of a wave of borrowers reaching the end of their six-month loan deferral periods before Christmas.

Page 8: Europe is turning into a patchwork of rules and regulations as local, regional and national authorities grapple with the second wave of COVID-19.

Page 13: BHP chairman Ken MacKenzie has revealed the mining giant’s Queensland coal exports have been hit by China’s import restrictions, saying a number of its Chinese customers had asked to defer shipments.

Crown Resorts is facing the growing prospect of an investor revolt at its annual meeting, as further governance failings emerged at the NSW Independent Liquor and Gaming Authority’s inquiry into its suitability to hold a gaming licence.

Page 14: Nine Entertainment’s streaming service Stan has been a topic of conversation in media circles of late, and now it appears analysts at Morgan Stanley have become part of the discussion.

Page 18: The head of one of Australia’s biggest fruit and vegetable operations has called on governments to help drive an increase in food exports and assist with labour issues in regional areas as working visa numbers fall.

 

 

The West Australian

Page 5: The Wiggles’ decision to release a boys’ version of Yellow Wiggle Emma Watkins’ outfit has proved a bit of a hot potato, with parents divided on the move.

Page 6: A tradie who worked on the Curtin University building site where an apprentice was killed was so alarmed about the state of the glass roof he refused to work under the structure.

Page 10: There is no health reason for travel bans between WA and other States and Territories, provided they have hard borders in place with NSW and Victoria, according to Chief Health Officer Andy Robertson.

Page 11: Australia’s economic recovery continues, with half of all businesses and mortgage holders who deferred loans in the pandemic now making repayments.

Page 18: Aboriginal Affairs Minister Ben Wyatt has backed Rio Tinto after the AFL ended its partnership with the mining giant.

Business: The impact of WA’s hard border on local businesses has been revealed, with many companies expecting access to customers and skilled workers to get worse.

BHP’s top bosses have painted a bright future for former outcast Nickel West amid talk the WA operation is being spruced up for a major supply deal with US electric cars billionaire Elon Musk.

Mining company executives expect pressure from investors on environmental, social and governance aspects of their businesses will only escalate in coming years as issues such as climate change, engagement with traditional owners, and slavery in supply chains garner increasing public attention.

Lynas has called on Australia’s Federal and State Governments to provide more financial support for companies to build a self-sufficient critical minerals industry in Australia.

The future of a financial planning firm linked to an alleged self-managed superannuation pusher is under a cloud amid difficulties getting professional indemnity insurance for its operations.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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