Business leaders hail RBA’s $100b stimulus.
Business leaders hail RBA’s $100b stimulus
Business leaders endorsed the Reserve Bank’s historic foray into quantitative easing with a $100 billion bond-buying bazooka, welcoming the launch of the unconventional policy as another helpful prong to the government’s stimulus program. The Fin
Major ore miners want tighter measures to stop the virus risk
WA’s iron ore majors are looking to further tighten port protocols to ensure crews aboard bulk carriers are COVID-free and to prevent infected seafarers from transmitting the virus to local communities. The West
Regulators reap $13m in bonuses
Four of the federal government’s largest regulators and statutory authorities paid more than 1700 executives and other senior staff bonuses of $13.2m last year, dwarfing the $20,000 in Cartier watch gifts that prompted the resignation of the former Australia Post chief executive. The Aus
Packer ‘makes Crown unfit to run casino’
NSW Premier Gladys Berejiklian is seeking urgent advice on whether to delay the opening of Crown Resorts’ Barangaroo casino on Sydney’s waterfront after an inquiry heard the company was not suitable to hold its licence for the facility. The Fin
Negative rates close for corporates
Corporates and institutional investors may have to pay banks to hold their money after a record rate cut by the Reserve Bank pushes wholesale borrowing rates towards negative territory. The Fin
Softening of China stance very unlikely
A tougher line on China has become bipartisan wisdom in the US in recent years but Donald Trump and Joe Biden have different ways they will seek to confront the challenge, adding to the complexity of how Australia manages its biggest trading partner. The Fin
Online lies, theories, misinformation surge on polling day
Voters faced a fresh barrage of misinformation on Tuesday (Wednesday, AEDT), the latest development in a voting period marred by misleading narratives on social media. The Fin
China push for retrospective tariffs puts heat on Treasury
The risks are rising for investors in Treasury Wine Estates, the maker of Penfolds and Wolf Blass, as fallout from the China trade war reverberates with a push by a Chinese entity to have the Chinese government impose retrospective tariffs on Australian wine imports. The Fin
Flight numbers take off as border reopens
Qantas and Virgin Australia have added hundreds more flights between Victoria and NSW in preparation for the November 23 reopening of the states’ border.
The Australian Financial Review
Page 1: Donald Trump has come within striking distance of clinching a stunning second term, all but declaring himself the winner and falsely but spectacularly accusing Democrats of trying to steal the election after a dramatic night of counting left the result unresolved.
Page 2: Former Tennis Australia director Harold Mitchell has been fined $90,000 for breaching his directors’ duties after a court case in which the Australian Securities and Investments Commission alleged he improperly helped the Seven Network secure the TV rights to the Australian Open over other networks.
Page 3: NSW Premier Gladys Berejiklian is seeking urgent advice on whether to delay the opening of Crown Resorts’ Barangaroo casino on Sydney’s waterfront after an inquiry heard the company was not suitable to hold its licence for the facility.
The Morrison government has hedged its bets further on the discovery of a coronavirus vaccine by investing in two more projects to secure another 50 million doses.
Page 5: Corporates and institutional investors may have to pay banks to hold their money after a record rate cut by the Reserve Bank pushes wholesale borrowing rates towards negative territory.
Business leaders endorsed the Reserve Bank’s historic foray into quantitative easing with a $100 billion bond-buying bazooka, welcoming the launch of the unconventional policy as another helpful prong to the government’s stimulus program.
Page 7: The Morrison government is holding its fire over the outcome of the US election, saying it will work with whoever prevails as President.
Page 8: Australian chief executives based in the United States want some certainty in the political environment but say regardless of who becomes president, they will be getting on with the job of building businesses aided by underlying megatrends.
Page 9: A tougher line on China has become bipartisan wisdom in the US in recent years but Donald Trump and Joe Biden have different ways they will seek to confront the challenge, adding to the complexity of how Australia manages its biggest trading partner.
Page 12: Pennsylvania’s governor pleaded for patience on Tuesday night (Wednesday AEDT) as his state began counting votes in a contest with the potential to decide it all in this year’s presidential race, but that could take days to resolve.
Voters faced a fresh barrage of misinformation on Tuesday (Wednesday, AEDT), the latest development in a voting period marred by misleading narratives on social media.
Page 22: China shocked global financial markets by halting the $US37 billion ($52 billion) dual-listing of Ant Group and calling in Alibaba founder Jack Ma for questioning by financial regulators.
Page 26: Woolworths is scrambling to find extra capacity to despatch online orders after online food sales doubled in the September quarter, reaching 8 per cent of total supermarket sales.
The risks are rising for investors in Treasury Wine Estates, the maker of Penfolds and Wolf Blass, as fallout from the China trade war reverberates with a push by a Chinese entity to have the Chinese government impose retrospective tariffs on Australian wine imports.
Page 28: Plant-based ‘‘meat’’ company v2food, which is backed by Rich Lister Jack Cowin, struck a deal to be stocked in 800 Coles supermarkets, as sales climb in 600 Woolworths outlets.
Page 29: Domino’s Pizza Enterprises same-store sales growth slowed in September and last month as stores reopened but they are likely to accelerate in the lead-up to Christmas as surging coronavirus cases force cafes and restaurants in Europe to close.
Page 31: Indian energy giant Adani Group, a lightning rod for environmentalists activists over the past decade, is changing the name of its Australian mining division to Bravus Mining and Resources.
The Australian
Page S3: Twitter flagged a social media post from US President Donald Trump as “misleading” and covered it with a warning, after the President accused the Democrats of trying to steal the election.
As the US presidential election veered towards a Donald Trump victory, Australian betting agencies were counting their losses after backing opponent Joe Biden throughout the campaign.
Page 1: Uncertainty hangs over Australia’s $149bn in exports to China as a blockade of wine destined for the nation’s biggest trade show in Shanghai has heightened fears that a sweeping ban could follow within days.
Four of the federal government’s largest regulators and statutory authorities paid more than 1700 executives and other senior staff bonuses of $13.2m last year, dwarfing the $20,000 in Cartier watch gifts that prompted the resignation of the former Australia Post chief executive.
Page 7: Life expectancy for Australian women has reached 85 years for the first time, but men are slowly catching up.
Page 17: A wild ride in global markets unfolded on Tuesday as US election votes began to be counted, with Australian shares and the currency caught up in the turmoil.
The major banks have piled on to the same strategy of not passing on an official rate cut to the majority of home loan borrowers, instead reducing fixed rate mortgage pricing and taking some of those loans below 2 per cent for the first time.
Page 19: Qantas and Virgin Australia have added hundreds more flights between Victoria and NSW in preparation for the November 23 reopening of the states’ border.
Page 22: The full bench of the Federal Court has thrown out an appeal by hotel comparison site Trivago, affirming a judgment that found the travel tech company had breached consumer law when it suggested its first placed prices were the best, when in fact they were simply the prices generating the highest Trivago commissions.
The West Australian
Page 3: A steel fabrication business that counted West Coast Eagles legend John Worsfold among its directors was paid more than $374,000 by the Department of Housing for materials for a project that never started.
Page 14: A Bill outlawing wheel clamping in WA has sailed through the Upper House with bipartisan support.
Page 16: The nation’s State governments have thrown their support behind WA in Clive Palmer’s High Court border battle.
Business: The WA Supreme Court has ordered a Bentley-based antibiotics developer reward its long-departed senior personnel for recent share rallies, inspired by work on a COVID-19 vaccine.
WA’s iron ore majors are looking to further tighten port protocols to ensure crews aboard bulk carriers are COVID-free and to prevent infected seafarers from transmitting the virus to local communities.
Employment and wages growth continues to weaken despite positive signs in the economy, with the construction sector expanding for the first time in two years.
Horizon Minerals is lauding “excellent” drill hits at its Binduli gold project 9km west of Kalgoorlie-Boulder.
