17/11/2020 - 06:32

Morning Headlines

17/11/2020 - 06:32

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PM urges states to lift SA border bans after latest outbreak.

PM urges states to lift SA border bans after latest outbreak

Scott Morrison has urged state and territory leaders to lift freshly imposed border bans as soon as South Australia gets its COVID-19 outbreak under control, something the federal government is confident will occur quickly. The Fin

Danish fund joins huge Western Australia green hydrogen project

Major Danish fund Copenhagen Infrastructure Partners has joined the early-stage Murchison green hydrogen venture in Western Australia’s mid-west, giving a boost to another ambitious project targeting the export of renewable energy to Asia. The Fin

Rinehart selling down cattle station holdings

Australia’s richest person Gina Rinehart is believed to be offloading property assets in her rural portfolio that are expected to reap hundreds of millions of dollars. The Aus

Amazon is tapping into the accelerated move to online shopping in Perth

Internet retail giant Amazon Australia is expanding its operations in WA with a new delivery station in the semi-industrial Perth suburb of Kewdale, which will speed up deliveries for customers ahead of the holiday shopping period. The West

Government pays $1.2b in robodebt compo

Australians caught up in the robodebt debacle will share in more than $1.2 billion after the Morrison government settled a class action over the botched scheme on the day of trial. The Fin

ASIO warns of spies using social media

Foreign intelligence agencies are using LinkedIn and other social media sites to target and recruit Australians with access to technology and sensitive information, the domestic spy agency says. The Fin

Lowe urges business to take more risks

Australia had to cut interest rates and move to quantitative easing because the ‘‘gravitational pull’’ of other central bank moves would have had serious implications for the economy and the local currency, Reserve Bank governor Philip Lowe has admitted. The Fin

It’s buy now, don’t pay later for 20pc of users

Afterpay said an ASIC report, which found many buy now, pay later users struggle with repayments, also recognised any consumer harm would be addressed via self-regulation and new, targeted regulatory tools, rather than prescriptive compliance obligations for the entire industry. The Fin

Tianqi cash crunch puts heat on lithium projects

D-day is looming on a cash crunch which has clouded the future ownership of WA’s biggest lithium mine and its first lithium processing plant. The West

Questions remain on trade pact

WA businesses are hopeful Australia will mend tensions with China under a major trade pact but are not holding their breath given the history of previous agreements. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison has urged state and territory leaders to lift freshly imposed border bans as soon as South Australia gets its COVID-19 outbreak under control, something the federal government is confident will occur quickly.

The Australian Securities Exchange and US-based Nasdaq were scrambling overnight to try to reopen the local sharemarket today after a technical glitch forced an embarrassing shutdown after just half an hour’s trade yesterday, sidelining investors amid a rally on Asia-Pacific bourses.

Page 2: Crown Resorts failed to adequately manage the risks to its staff in China before 19 of them were arrested by authorities in 2016, but this does not have any bearing on its current fitness to run the near-complete Barangaroo casino on Sydney’s waterfront, lawyers for the company have argued.

Page 3: ANZ has scrapped its forecast for a pandemic-linked 10 per cent drop in house prices and says a jump in sentiment based on stimulus measures and record-low interest rates will curb the decline, and could even result in ‘‘modest’’ price growth this year.

Australians caught up in the robodebt debacle will share in more than $1.2 billion after the Morrison government settled a class action over the botched scheme on the day of trial.

Page 5: The Lane Vineyard in the picturesque Adelaide Hills had so many interstate visitors from Queensland and NSW when the borders reopened that its cellar door restaurant resumed trading seven days a week at the start of October.

Page 8: Foreign intelligence agencies are using LinkedIn and other social media sites to target and recruit Australians with access to technology and sensitive information, the domestic spy agency says.

Farmers say Australia’s latest free trade agreement is underwhelming because it does not include India and provides no solution to regaining access to China’s market.

Page 9: Australia had to cut interest rates and move to quantitative easing because the ‘‘gravitational pull’’ of other central bank moves would have had serious implications for the economy and the local currency, Reserve Bank governor Philip Lowe has admitted.

Page 12: Australian investors were on the sidelines for most of a session that sent regional stocks to all-time or generational highs because of the ASX’s near six-hour outage on a systems fault that it aims to correct before today’s market open.

Afterpay said an ASIC report, which found many buy now, pay later users struggle with repayments, also recognised any consumer harm would be addressed via self-regulation and new, targeted regulatory tools, rather than prescriptive compliance obligations for the entire industry.

Page 13: SoftBank Group-backed supply chain finance business Greensill Capital, valued at $6 billion last year, is seeking to introduce listed equity investors to the company, as a precursor to a mooted initial public offering and sharemarket float.

Page 14: The chief executive of agribusiness group Elders says he’s taking a methodical and ‘‘low pulse rate’’ approach to growth, but the company has as many as six potential acquisitions it is scrutinising.

Page 16: Origin Energy CEO Frank Calabria is leading a pushback from gas producers, pipeline owners and gas users against the bearish findings on the fuel by the Grattan Institute.

Major Danish fund Copenhagen Infrastructure Partners has joined the early-stage Murchison green hydrogen venture in Western Australia’s mid-west, giving a boost to another ambitious project targeting the export of renewable energy to Asia.

Page 18: Optus leads the opposition among telecommunications rivals to Telstra’s plan to restructure and buy the national broadband network, saying it would be a terrible outcome for taxpayers, competition and consumers.

 

 

The Australian

Page 1: Employees working from home would be paid an upfront allowance to cover work-related expenses and employers would insure equipment used by employees working remotely, under a new ACTU policy that unions will seek to have adopted by white-collar employers.

Page 3: More Australians have taking up “job-creator” subjects such as science and agriculture at a tertiary level in 2020 while demand for spots at regional universities has boomed, according to new federal data.

Page 4: One in 10 households with a mortgage say they experienced trouble meeting repayments over the four weeks to mid-October, more than twice the proportion during the peak of the COVID-19 recession in June.

Page 6: Hospitals will need to implement critical infrastructure risk management programs to protect against cyber-intrusions, as state-based actors and transnational crime groups ramp-up attacks on Australian healthcare operators.

Page 7: West Australian Treasurer Ben Wyatt, the McGowan government’s star performer, has announced for the second time in less than a year that he will be quitting politics.

Page 14: Australia’s richest person Gina Rinehart is believed to be offloading property assets in her rural portfolio that are expected to reap hundreds of millions of dollars.

Page 20: China wants to “make an example of Australia” with trade sanctions to warn Asian countries not to criticise its expanding influence, US-based conservative historian Niall Ferguson warned at a conference on Monday.

 

 

The West Australian

Page 6: Ben Wyatt admitted he was “slightly embarrassed” to yesterday announce his retirement from politics for the second time, as Health Minister Roger Cook emerged as the most high-profile candidate to be the next WA treasurer.

Page 7: A second coronavirus vaccine has delivered results showing it is 94.5 per cent effective in trials that include people aged over 65.

Page 9: Poor mental health is costing Australia $600 million a day and the system must be overhauled to reduce the toll of more than 3000 suicides each year.

Page 14: Australia and Japan are likely to finalise a major defence agreement as part of Scott Morrison’s first international trip since the start of the pandemic.

Business: Sidelined mining company chairman Mark Caruso is set to face a home invasion charge after police foreshadowed a further ramping-up of allegations over an eviction in May.

D-day is looming on a cash crunch which has clouded the future ownership of WA’s biggest lithium mine and its first lithium processing plant.

Internet retail giant Amazon Australia is expanding its operations in WA with a new delivery station in the semi-industrial Perth suburb of Kewdale, which will speed up deliveries for customers ahead of the holiday shopping period.

WA businesses are hopeful Australia will mend tensions with China under a major trade pact but are not holding their breath given the history of previous agreements.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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