13/11/2020 - 06:50

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13/11/2020 - 06:50

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China rift ‘threatens oil, gas, iron ore’.

China rift ‘threatens oil, gas, iron ore’

The chairmen of two of the nation’s biggest companies have warned the breakdown in relations with China is a ‘‘tinderbox’’ that threatens Australia’s most valuable exports, including oil and gas and iron ore. The Fin

Woodside on lookout for gas buy as drop-off looms

Output at Australia’s biggest LNG producer could fall by about 30 per cent, requiring two of the North West Shelf venture’s five trains to be shut down in the next five years because of a lack of gas, Macquarie Equities said. The Fin

Chaney urges real reform

Wesfarmers chairman Michael Chaney has warned that Australia has little chance of reviving its manufacturing sector and reducing its reliance on offshore suppliers unless it takes the plunge and commits to meaningful economic reform.  The West

PM to Biden: Security risk real

Scott Morrison has used his first conversation with US President-elect Joe Biden to stress the importance of American engagement in the Indo-Pacific and to seek his co-operation in maintaining global order by restoring the status of key institutions and multilateral bodies such as the G20. The Fin

Award system out of control: Woolies boss

Woolworths revealed last October it had underpaid at least 5700 salaried store staff for almost 10 years by not factoring into individual salaries the number of hours worked and the times of hours worked. The Fin

Telstra plots tower carve-up

Telstra has attempted to unlock billions of dollars-worth of telecommunications infrastructure through a three-way split of its operations, in a move described by chief executive Andy Penn as one of the most critical since the telco was privatised. The Fin

Azure up on drill news

Shares in Azure Minerals stacked on another 15 per cent yesterday after the Tony Rovira-led company reported more good drilling results from its Andover joint venture project 30km south-east of Karratha. The West

Footy reform needs shift in power base

West Coast and Fremantle have “too much power” in deciding the make-up of the WA Football Commission board, and the election of commissioners must be reformed to be more representative of community footy, a parliamentary inquiry has found. The West

Pioneer reaches pinnacle

Australia’s first Indigenous doctor, Professor Helen Milroy, was last night named the 2021 WA Australian of the Year at Perth’s Ritz-Carlton Hotel. The West

Brookfield’s IPO price fix

An Australian coal terminal operator and its owner Brookfield Asset Management are seeking to raise at least $656 million after setting a price for the nation’s biggest initial public offering so far this year. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison has used his first conversation with US President-elect Joe Biden to stress the importance of American engagement in the Indo-Pacific and to seek his co-operation in maintaining global order by restoring the status of key institutions and multilateral bodies such as the G20.

The chairmen of two of the nation’s biggest companies have warned the breakdown in relations with China is a ‘‘tinderbox’’ that threatens Australia’s most valuable exports, including oil and gas and iron ore.

Telstra chief executive Andy Penn says a major restructure at the company has been done to position it to buy the national broadband network in future, as investors backed his plans and welcomed moves to target new revenue in energy and health.

Page 3: Breakaway Labor MP Joel Fitzgibbon is demanding Anthony Albanese shift Mark Butler out of the climate change and energy portfolio, arguing the Opposition needs a fresh approach to climate policy or lose the next election.

Government climate scientists say their research shows conclusive evidence of a future ravaged by bushfires, rising sea levels, drought and much more if global emissions aren’t curbed, and it is now up to business and government to ‘‘choose the future’’ they want.

Page 5: Professional social media profiles and foreign students are fertile recruiting opportunities for Chinese spies, a former head of counter-intelligence at the Central Intelligence Agency says.

Page 10: The hardline Transport Workers Union is set to extend its coverage to Virgin pilots as the airline’s new owners seek to slash pilot pay and conditions.

Page 14: Hopes that Congress would move swiftly after the election to provide more coronavirus relief for Americans are fading as Senate Republicans continue to resist large spending measures and pressure from Donald Trump to take action has waned.

Page 16: GPs and nurses will be redeployed to mass vaccination centres in the first half of next year as Britain launches a mass mobilisation of the medical profession to blitz the country with COVID-19 vaccine jabs.

Page 17: Woolworths revealed last October it had underpaid at least 5700 salaried store staff for almost 10 years by not factoring into individual salaries the number of hours worked and the times of hours worked.

With sales from ‘‘mature’’ businesses such as Bunnings and Officeworks growing by almost a third in the first four months of 2021, Wesfarmers says it is in no rush to make acquisitions, even though it is cashed up after selling most of its stake in Coles for $2 billion.

Page 19: The financial intelligence regulator is preparing to unleash a wave of guidance including 10 new risk assessments and the launch of a new division.

Page 20: Seven West Media chairman Kerry Stokes has alleged Cricket Australia has failed to offer recompense to the free-to-air network for the COVID-19-hit summer.

Page 22: New Optus chief executive Kelly Bayer Rosmarin said the financial impact of COVID-19 had not altered her plans for the country’s second-largest telco, which reported a sharp decline in first-half profit, and the company would increase its investment in the business in the next year.

Page 23: Output at Australia’s biggest LNG producer could fall by about 30 per cent, requiring two of the North West Shelf venture’s five trains to be shut down in the next five years because of a lack of gas, Macquarie Equities said.

Building products group CSR expects strong upside in its Bradford insulation and solar energy business from a tie-up with Tesla as the US electric car pioneer prepares to roll out its new high-tech, solar roof tiles products in Australia.

 

 

The Australian

Page 1: China has escalated its trade assault on regional Australia, banning Victoria’s $260m timber trade and leaving the state’s forestry industry in despair, with business leaders urging the Morrison government to fix its diplomatic spat with Beijing.

Page 2: Australia’s export sector has become more reliant than ever on China through the COVID-19 crisis despite an increasingly fraught relationship, with aggressive Chinese trade practices having done little to halt the flow of exports to the Asian giant.

Page 4: Scott Morrison will accept all recommendations of the bushfire royal commission, with the response to be discussed at national cabinet on Friday along with the reopening of borders and the COVID-19 vaccine rollout.

Labor has escalated its attacks on the Morrison government’s Job-Maker hiring credit scheme, saying the scheme’s focus on younger workers will leave older unemployed Australians at an unfair disadvantage to younger jobseekers.

Page 17: Telstra has attempted to unlock billions of dollars-worth of telecommunications infrastructure through a three-way split of its operations, in a move described by chief executive Andy Penn as one of the most critical since the telco was privatised.

Page 20: Billionaire Kerry Stokes has urged politicians from all sides to pass legislation to make technology giants such as Google and Facebook pay for news content on their platforms, which is used to boost their own advertising revenue.

Page 23: Billionaire Andrew Forrest, fresh from outlining ambitions to become the world’s biggest renewable investor, has confirmed plans to press ahead with his $250m NSW gas import terminal, putting it on track to become Australia’s first facility importing LNG.

 

 

The West Australian

Page 9: West Coast and Fremantle have “too much power” in deciding the make-up of the WA Football Commission board, and the election of commissioners must be reformed to be more representative of community footy, a parliamentary inquiry has found.

Page 14: Women may have to wait up to eight months for their fertility to return to normal after stopping contraception, researchers say.

Page 18: Australia’s first Indigenous doctor, Professor Helen Milroy, was last night named the 2021 WA Australian of the Year at Perth’s Ritz-Carlton Hotel.

Page 22: Children born by caesarean may have three times the risk of developing asthma, a study has found.

Page 26: The State’s only privately run prison was awarded more than $3 million in bonuses for good performance last financial year, despite 14 incidents of “serious self-harm” and “multiple” failures to adequately protect at-risk prisoners.

Page 72: Corporate heavyweight Richard Goyder hopes Joe Biden’s victory in the US will act as a circuit-breaker for Australia-China diplomatic relations, with trade tensions reaching fever pitch in recent days amid the targeting of key exports.

Business: Wesfarmers chairman Michael Chaney has warned that Australia has little chance of reviving its manufacturing sector and reducing its reliance on offshore suppliers unless it takes the plunge and commits to meaningful economic reform.

At least 20 giant bulk carriers are anchored off the Chinese port of Jingtang and unable to offload millions of tonnes of Australian coal, the latest casualty of the growing diplomatic row between Canberra and Beijing.

WA billionaire Tim Roberts is seeking access to Canadian giant Bombardier’s sales team records as he builds a $450 million-plus legal claim over luxury jet dealings.

Shares in Azure Minerals stacked on another 15 per cent yesterday after the Tony Rovira-led company reported more good drilling results from its Andover joint venture project 30km south-east of Karratha.

An Australian coal terminal operator and its owner Brookfield Asset Management are seeking to raise at least $656 million after setting a price for the nation’s biggest initial public offering so far this year.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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