04/11/2020 - 06:56

Morning Headlines

04/11/2020 - 06:56

Bookmark

Save articles for future reference.

Wesfarmers in VHM hunt.

Wesfarmers in VHM hunt

Perth-based conglomerate Wesfarmers is understood to be in the contest for the Chris Ellison-backed rare-earths producer VHM, which may fetch as much as $500m. The Aus

Forrest among potential partners in First Quantum nickel mine

Canadian owner First Quantum remains in the hunt for a partner after a difficult restart to a nickel mine in Western Australia that still conjures up nightmares for BHP investors. The Fin

Exports worth $6b at risk in latest Beijing campaign

China is threatening to impose bans on up to $6 billion of key Australian exports from Friday under a widely distributed notice sent to the country’s food and wine distributors, raising fears of a second wave of economic coercion as diplomatic relations hit a new low. The Fin

More flights as WA ends hard border restrictions

Virgin Australia is expected to add more flights to and from WA after the State Government’s border easing. The West

Super hike to shrink wages 1.75pc

Lifting the superannuation guarantee by 2.5 percentage points to 12 per cent will lead to wages being 1.75 per cent less than otherwise over the long-term, according to confidential Reserve Bank documents and modelling. The Fin

Take heat out of rap on China: mine bloc

Mining lobby groups have called for a more constructive relationship with WA’s biggest trading partner after Chinese media reported copper could be the next commodity on the Middle Kingdom’s hit-list for trade sanctions. The West

Fears rate cut may fuel new housing bubble

The record rate cut has given a further boost to the already rebounding residential market while delivering an even quicker bounce for listed property stocks, which leapt 2.7 per cent higher yesterday, well ahead of the broader equities market. The Fin

Markets price in Democratic clean sweep

Investors are betting heavily on a Democratic clean sweep of the US election, sparking a rally in global equities that began in the Asian region. It gifted Australian stocks with a 1.9 per cent gain and the market’s best session in a month. The Fin

Copper miners see life beyond China

Miner Sandfire is confident it can find buyers for its products outside of China if Australia’s biggest customer decides to add copper to its blacklist of Australian products. The Fin

Hard luck on border clash

Clive Palmer’s challenge to WA’s hard border was dealt a blow yesterday, with the High Court poking holes in the billionaire’s main argument. The West

 

 

The Australian Financial Review

Page 1: The Reserve Bank has promised to keep its official cash rate at 0.1 per cent for at least the next three years and will buy $100 billion of bonds in the coming six months to force cheaper bank lending to boost the economy’s jobs recovery.

Page 5: The record rate cut has given a further boost to the already rebounding residential market while delivering an even quicker bounce for listed property stocks, which leapt 2.7 per cent higher yesterday, well ahead of the broader equities market.

Page 6: Major banks are considering reductions to fixed-rate home loan offers in coming days but may not slash their standard variable rates, after Reserve Bank governor Philip Lowe encouraged mortgage customers to use the historic interest rate cut to negotiate better deals with lenders.

Page 7: Lifting the superannuation guarantee by 2.5 percentage points to 12 per cent will lead to wages being 1.75 per cent less than otherwise over the long-term, according to confidential Reserve Bank documents and modelling.

Page 9: China is threatening to impose bans on up to $6 billion of key Australian exports from Friday under a widely distributed notice sent to the country’s food and wine distributors, raising fears of a second wave of economic coercion as diplomatic relations hit a new low.

Page 10: The Morrison government has learnt the lesson from 2016 and made preparations to engage immediately with Joe Biden and his team, should the Democrat win the US presidential election.

Page 11: America’s marquee shopping precincts are boarded up and the National Guard is preparing for deployment as the country last night prepared for major protests and civil unrest no matter the election results on Wednesday (AEDT).

Page 15: Investors are betting heavily on a Democratic clean sweep of the US election, sparking a rally in global equities that began in the Asian region.

The ongoing crisis involving a disused oil production ship far off the coast of Darwin has created huge uncertainty over future abandonment liabilities for old offshore platforms, clouding the outlook for a multi-billion-dollar wave of asset sales in Australia’s oil and gas sector.

Page 16: Miner Sandfire is confident it can find buyers for its products outside of China if Australia’s biggest customer decides to add copper to its blacklist of Australian products.

Page 19: Canadian owner First Quantum remains in the hunt for a partner after a difficult restart to a nickel mine in Western Australia that still conjures up nightmares for BHP investors.

 

 

The Australian

Page 1: Popular Australian bakery chain Pie Face sold “halal-certified” pastries that contained pork, and cooked other pies and sausage rolls in a manner considered “haram” — strictly forbidden to Muslims — according to several leading Islamic authorities.

Page 2: Australia’s biosecurity system needs an urgent overhaul if it is to protect the country against biological threats such as COVID-19, according to the nation’s senior science agency.

Page 4: The Reserve Bank’s decision to slash rates to a record low of 0.1 per cent has heaped further misery on savers, with governor Philip Lowe saying retirees hurt by plunging cash returns on deposits need to carry “a heavy share of the burden” for the “collective good”.

Australia’s requirements for its new fleet of Attack-class submarines, including long range and extreme stealth, will give the nation “a power status well beyond its size and weight”, former chief of navy Tim Barrett says.

Page 8: Long delays in the family law system and its adversarial nature are damaging the mental health of children, says new National Children’s Commissioner Anne Hollonds, who stepped into her role on Monday.

Page 15: Insurance Australia Group investors are putting the board on notice to swiftly address the topic of potential exposure to business interruption policies during COVID-19, given the heightened uncertainty has weighed on the company’s value.

Page 16: Perth-based conglomerate Wesfarmers is understood to be in the contest for the Chris Ellison-backed rare-earths producer VHM, which may fetch as much as $500m.

Page 17: “AussieJohn Symond has retired as chairman of Aussie Home Loans, 28 years after he founded the business and revolutionised the home loan market.

Page 18: BP’s decision to shut Western Australia’s Kwinana refinery has been criticised by several of the plant’s oil suppliers who raised concerns over the nation’s fuel security once the British energy giant closes its doors.

Page 21: Australia Post is facing executive headhunter fees of about $500,000 and a potential wait of up to 12 months for its next chief executive after Christine Holgate resigned with immediate effect over the Cartier watches gift row.

 

 

The West Australian

Page 1: Commodities traders in China won’t be able to import products including coal, barley, copper ore and concentrate, sugar, timber, wine and lobster, according to people familiar with the situation.

Page 5: Social distancing went out the window alongside dignity as Perth punters crowded into Ascot Racecourse yesterday — drinking, hugging and even mooning at live cameras on a day when a historic race joined COVID-19 in stopping the nation.

Page 7: Clive Palmer’s challenge to WA’s hard border was dealt a blow yesterday, with the High Court poking holes in the billionaire’s main argument.

Page 17: A daycare worker who reportedly knew of serious child assault allegations levelled against a colleague has been stood down for failing to report them.

Basil Zempilas opened his first ordinary council meeting as Perth’s Lord Mayor yesterday with a commitment to undergo transgender “awareness training” and a request he be judged by his actions going forward.

Page 20: Mathias Cormann is using the Australian Government’s handling of the coronavirus as his pitch to be the new secretary-general of the Organisation for Economic Co-operation and Development.

Business: The ANZ-Roy Morgan consumer confidence index rose for a ninth straight week, rising 0.2 per cent to 99.9 points, its highest since March and when the coronavirus pandemic struck.

Data technology company Isentia Group says a cyber security incident that took place last week could cost the company up to $8.5 million.

Virgin Australia is expected to add more flights to and from WA after the State Government’s border easing.

Mining lobby groups have called for a more constructive relationship with WA’s biggest trading partner after Chinese media reported copper could be the next commodity on the Middle Kingdom’s hit-list for trade sanctions.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options