Morning Headlines

NZ flight sparks border fight, as WA, Victoria slam arrivals

A fresh round of border battles is set to overshadow the resumption of federal Parliament, as Western Australia joins Victoria in criticising the travel bubble with New Zealand for allowing overseas travellers into their states. The Fin

‘Red flag’ in CBA push for mass individual contracts

Commonwealth Bank has used individual agreements on a massive scale over the past decade to exclude its employees from a wide range of conditions in union collective agreements, resulting in millions of dollars of underpayments. The Fin

Fake ‘info chaos’ if Facebook news lost

Disinformation would “run rampant” in Australia and “worsen an already questionable information environment” if Facebook followed through with its threat to ban all news from its social network, researchers warn. The West

Perpetual takes aim at Crown   

The fate of three directors of the James Packer-backed Crown Resorts hangs in the balance after the company’s largest institutional investor, Australian fund manager Perpetual, voted against their reelection at this week’s annual general meeting. The Aus

Latitude to supersize BNPL limits

Latitude Financial is expanding its interest-free offering to bigger ticket items, including home renovations and medical procedures for customers and their pets, as buy now, pay later shopping surges at the expense of traditional credit cards. The Aus

Beaming Ardern’s big test

Prime Minister Jacinda Ardern’s thumping victory in the New Zealand election looks certain to deliver Labour the country’s first majority government in decades, along with the challenge – and sole responsibility – of tackling its worst economic crisis since 1984. The Fin

Currency manipulation alert for RBA’s QE plan

The Reserve Bank could be about to cross a red line on currency manipulation if it uses billions of dollars of new bond purchases to prevent the Australian dollar from appreciating. The Fin

Lithium player Altura Mining digs in for $150m recap

West Australian lithium miner Altura Mining is putting the finishing touches on a $150 million-plus equity raising designed to dramatically reduce the company’s debt. The West

Foreign investors desert Australian residential property market

Investment in Australian residential property by foreign interests plunged by $1bn even before the coronavirus crisis struck and is set to worsen from new rules and stamp duty regimes, major industry players say. The Aus

Ship fight may trigger ‘ban’

Mark McGowan has flagged banning cargo vessels that pick up crew from nations with poor track records for rigorous coronavirus quarantine measures. The West

The Australian Financial Review

Page 1: Victorian Premier Daniel Andrews is under pressure to bring forward new easing of Melbourne restrictions in the face of growing business frustrations and federal government warnings that every further day of lockdown will cost 1000 jobs and worsen mental health problems.

Prime Minister Jacinda Ardern’s thumping victory in the New Zealand election looks certain to deliver Labour the country’s first majority government in decades, along with the challenge – and sole responsibility – of tackling its worst economic crisis since 1984.

Page 3: Commonwealth Bank has used individual agreements on a massive scale over the past decade to exclude its employees from a wide range of conditions in union collective agreements, resulting in millions of dollars of underpayments.

A fresh round of border battles is set to overshadow the resumption of federal Parliament, as Western Australia joins Victoria in criticising the travel bubble with New Zealand for allowing overseas travellers into their states.

Page 8: The Reserve Bank could be about to cross a red line on currency manipulation if it uses billions of dollars of new bond purchases to prevent the Australian dollar from appreciating.

Page 10: China has narrowed the gap with the United States in a race to become the most powerful country in Asia, with middle nations such as Australia tipped to play a greater role mediating stand-offs between the two superpowers, according to an annual index by the Lowy Institute.

Page 12: One of the new Skills Organisations – part of the Joyce reforms of vocational education – is being hailed as a disrupter that will ‘‘blow things up’’ in an overdue reform of the training sector, with implications for qualifications and even for industrial relations.

Page 14: West Australian lithium miner Altura Mining is putting the finishing touches on a $150 million-plus equity raising designed to dramatically reduce the company’s debt.

Page 15: US private equity and investments giant Blackstone may hold the key to the fate of three directors up for reelection to the Crown Resorts board on Thursday, with minority investors expected to use their votes to show their displeasure with the crisis-hit casino group.

Page 18: Cleanaway Waste Management had its Victorian frontline workers transfer medical waste from bins into larger tubs without protective wear at the height of the COVID-19 crisis, as part of a plan to ship waste interstate to ensure it didn’t exceed its environmental licence restrictions.

The Australian

Page 4: Investment in Australian residential property by foreign interests plunged by $1bn even before the coronavirus crisis struck and is set to worsen from new rules and stamp duty regimes, major industry players say.

Australia’s economy over coming years will bounce back hard and fast from the COVID-19 shock, provided the health crisis remains under control, but will still be left smaller because of a much lower population.

Page 7: Former White House chief strategist Steve Bannon says if Donald Trump were to lose the presidential race to Joe Biden next month, he would announce he was running again in 2024.

Page 13: The fate of three directors of the James Packer-backed Crown Resorts hangs in the balance after the company’s largest institutional investor, Australian fund manager Perpetual, voted against their reelection at this week’s annual general meeting.

Page 14: Coca-Cola Amatil and Heineken International look like being the winners in the contest for Asahi’s drinks portfolio, with a conclusion thought to be imminent.

Page 15: Latitude Financial is expanding its interest-free offering to bigger ticket items, including home renovations and medical procedures for customers and their pets, as buy now, pay later shopping surges at the expense of traditional credit cards.

Page 19: The Seven and Nine networks are banking on a reversal of their recent grand final fortunes, with this weekend’s footy deciders predicted to be among the most-viewed season finales of the past decade.

The West Australian

Page 6: Mark McGowan has flagged banning cargo vessels that pick up crew from nations with poor track records for rigorous coronavirus quarantine measures.

Page 7: Scott Morrison is ramping up pressure on Labor to support the Federal Government’s new program giving employers money for hiring people under the age of 35.

Page 9: Hailed as Perth’s biggest rail project since the construction of the Mandurah line, Metronet’s Morley-Ellenbrook Line reached its most important milestone yet yesterday.

Page 14: Disinformation would “run rampant” in Australia and “worsen an already questionable information environment” if Facebook followed through with its threat to ban all news from its social network, researchers warn.

Business: The Minerals Council of Australia has rejected claims by WA senator Pat Dodson that the mining sector had embarked on a campaign of “incremental genocide” of Indigenous cultural heritage.

WA’s hard border has helped its economy outperform other States, but keeping it shut for too long will present its own set of challenges, according to a respected economic forecaster.

COVID-19 is changing retirement across the country, and older Australians are being urged to check their finances.