06/11/2020 - 07:00

Morning Headlines

06/11/2020 - 07:00

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‘Get on the road to success with China’

‘Get on the road to success with China’

China’s top diplomat in Perth urged Australia to “abandon the Cold War mentality” ahead of the Chinese Government’s expected suspension of Australian exports that include WA crayfish and wine. The West

Accountant accused of trust breach

Tony Poli is locked in a legal row with his younger brother over part of the $1.3 billion Aquila Resources bounty set aside for their octogenarian parents. The West

Fun park has land council in a spin

Conflict and tumult threaten to overtake the Aboriginal land council that brokered the biggest land deal in Australia’s history — swapping native title for land and cash worth $1.3bn — raising questions over how prepared the organisation is to manage the windfall. The Aus

Find another market other than China, exporters warned

Senior Morrison government officials have advised China-exposed businesses to “find other markets” during a crisis phone hook-up on Thursday ahead of a threatened ban on exports worth $6bn a year. The Aus

Biden within reach of victory

Joe Biden is in the box seat to become America’s 46th president after clinching two crucial midwest states that put him within reach of winning the Electoral College as Donald Trump escalated lawsuits and unproven claims of vote fraud. The Fin

Cap Packer’s Crown holding, says inquiry SC

A counsel assisting the public inquiry into Crown Resorts has suggested a cap be placed on the shareholding of James Packer’s private company Consolidated Press Holdings (CPH) in the casino giant. The Fin

Turquoise Hill rebels against Rio’s pressure

Downer EDI chief executive Grant Fenn has acknowledged he needs to make the $1.2 billion acquisition of Spotless work to justify its hefty purchase price as the services group’s hospitality business stays ‘‘in hibernation’’ following the COVID-19 pandemic. The Fin

Farmers in fight against the heavy hand of Beijing

Farmers and major grain traders are fed up with China as Australia prepares to take its grievances to the World Trade Organisation. The Fin

‘CFMEU totally dysfunctional’: O’Connor quits

The Construction, Forestry, Maritime, Mining and Energy Union risks falling into a leaderless vacuum for the near future as the resignation of its national secretary sees the powerful mining division reconsider its future with the national union. The Fin

PM urges patience with appeal process

Scott Morrison has urged patience with the US election outcome, saying America’s age-old institutions should be trusted, as Donald Trump attempts to thwart the vote count with legal challenges. The Fin

 

 

The Australian Financial Review

Page 1: Joe Biden is in the box seat to become America’s 46th president after clinching two crucial midwest states that put him within reach of winning the Electoral College as Donald Trump escalated lawsuits and unproven claims of vote fraud.

Page 2: Treasury Secretary Steven Kennedy has signalled different fiscal stimulus could be on the way dependent on unemployment levels, saying monetary policy is almost exhausted, placing more onus on state and federal government responses.

Page 3: A counsel assisting the public inquiry into Crown Resorts has suggested a cap be placed on the shareholding of James Packer’s private company Consolidated Press Holdings (CPH) in the casino giant.

Page 4: Farmers and major grain traders are fed up with China as Australia prepares to take its grievances to the World Trade Organisation.

Page 5: The Construction, Forestry, Maritime, Mining and Energy Union risks falling into a leaderless vacuum for the near future as the resignation of its national secretary sees the powerful mining division reconsider its future with the national union.

Page 7: Scott Morrison has urged patience with the US election outcome, saying America’s age-old institutions should be trusted, as Donald Trump attempts to thwart the vote count with legal challenges.

Page 16: With Ant Group’s record initial public offering in Shanghai and Hong Kong suspended, some of the more than 10 million retail investors who subscribed to five funds planning to invest in the share sale demanded their money back.

Page 17: A whistleblower raised red flags with the corporate regulator over the accounting practices of Freedom Foods Group as far back as May 2019, but the agency decided to not act on the information at that time.

Page 19: Coles will emerge from the pandemic in stronger shape after making progress against its five-year turnaround strategy despite drought, bushfires and COVID-19, according to chief executive Steven Cain.

Page 20: Rio Tinto is facing rebellion from the majority-owned subsidiary that gives it exposure to Mongolia’s Oyu Tolgoi mine, in another setback to Rio’s plan to build a major copper mine in the developing nation.

Downer EDI chief executive Grant Fenn has acknowledged he needs to make the $1.2 billion acquisition of Spotless work to justify its hefty purchase price as the services group’s hospitality business stays ‘‘in hibernation’’ following the COVID-19 pandemic.

 

 

The Australian

Page 1: Conflict and tumult threaten to overtake the Aboriginal land council that brokered the biggest land deal in Australia’s history — swapping native title for land and cash worth $1.3bn — raising questions over how prepared the organisation is to manage the windfall.

Page 6: The head of the Australian Cyber Security Centre is warning that sophisticated state-based actors and transnational criminals are targeting businesses and all levels of government, exploiting vulnerabilities and developing viruses to steal money and sensitive data.

Senior Morrison government officials have advised China-exposed businesses to “find other markets” during a crisis phone hook-up on Thursday ahead of a threatened ban on exports worth $6bn a year.

Page 11: Shipping giant CSL won federal approval to fly in dozens of foreign seafarers from The Philippines, igniting union accusations that the Morrison government allowed their entry from a COVID hotspot despite local maritime workers being available.

Page 17: Big private equity firms are circling Tabcorp and are poised to make a bid for the embattled wagering company in a deal that would see renowned digital betting pioneer Matthew Tripp emerge as the boss of the TAB wagering arm.

Page 21: Japan Post faces a battle attracting a top price for Toll Group’s $3.5bn Australian express business with the company’s billionaire co-founder ruling himself out of the bidding due to the task of overhauling the loss-making unit.

 

 

The West Australian

Page 1: The Federal Government still has no plan to ease trade tensions with China despite renewed threats of a “sweeping halt” on Australian exports to begin today.

Page 6: Democrat challenger Joe Biden was edging closer to victory last night with a trailing Donald Trump needing an unlikely clean sweep of the remaining undecided States to win a second term.

Page 16: China’s top diplomat in Perth urged Australia to “abandon the Cold War mentality” ahead of the Chinese Government’s expected suspension of Australian exports that include WA crayfish and wine.

Page 27: Australia grows enough veggies to feed up to 80 million people a year, but spent $215 million importing fruit and vegetables in one month alone, national trade data reveals.

Page 68: Andrew and Nicola Forrest’s expanding Harvest Road Group agribusiness has poached the former head of Mrs Mac’s Pies as its new chief executive.

Page 71: Figures from the Australian Bureau of Statistics out this week showed the average life expectancy in WA has continued to climb along with the rest of the country, up to 80.9 years for men and 85.4 years for women. That is 1.4 years and 1.3 years more than a decade ago.

Business: Tony Poli is locked in a legal row with his younger brother over part of the $1.3 billion Aquila Resources bounty set aside for their octogenarian parents.

A report warns COVID-19 has dealt a huge financial blow to Australian charities and not-for-profit organisations but WA groups say they were short of money before the pandemic.

The first Boeing 737 for Regional Express will be delivered to Sydney today ahead of capital city operations starting next year — and the possible addition of flights servicing WA.

WA has led the way as Westfield shopping centre owner Scentre Group emerges from the COVID-19 lockdowns which battered its smaller tenants.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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