08/12/2020 - 06:43

Morning Headlines

08/12/2020 - 06:43

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Morning Headlines

WA-based internet provider Pentanet plugs in $66m float

Street Talk understands Western Australia-based internet service provider Pentanet has landed back in front of fund managers for its initial public offering, nine months since closing a pre-IPO fundraising. The Fin

BHP drops fast payments

BHP has rolled off assistance to small business suppliers of the company, dropping the faster payment terms it introduced to help its suppliers survive the coronavirus pandemic. The Aus

Labor set to back CFMEU break-up bill

Labor is set to back the Morrison government’s laws to allow the mining union to split from the CFMEU amid fresh warnings that the militant construction division wants to dominate the whole union. The Fin

Casuals law aims to end double dip

WA businesses could be on the hook for up to $4.7 billion in potential double-dipping claims for casual workers without major reform to industrial relations laws, according to industry leaders. The West

Tech giants win concessions in code

Facebook and Google will be permitted to count the monetary worth of online readers they deliver news websites in calculations to determine how much money they pay media organisations for the value of journalism on their platforms, under compromises reached by the federal government. The Fin

Banks hit for 'supporting' stressed loans

Some of the nation’s lenders have been quietly buying back stressed mortgages that have been packaged up as bonds and then sold to investors, which is potentially in breach of prudential standards, according to the banking regulator. The Aus

Metcash confident new customers will stick

Metcash is passing lower prices from suppliers on to independent retailers so customers who started shopping at its IGA, Mitre 10, Home Timber & Hardware and Cellarbrations stores during the pandemic keep coming back. The Fin

Afterpay benefits outweigh harm of no-surcharge rule: RBA

Reserve Bank governor Philip Lowe has given the strongest indication yet that buy now, pay later providers will be able to continue to insist merchants do not pass their costs on to customers, at least in the medium term. The Fin

Primewest and Growthpoint tie-up tipped

Two of the companies being discussed recently over a potential tie-up are Primewest, founded and run by John Bond, son of the late businessman Alan Bond, and Growthpoint Properties Australia. The Aus

New flights offer tourist bonanza

The South West could be in line for a tourism boost, with Jetstar today announcing three flights a week from Melbourne to Busselton Margaret River Airport. The West

 

 

The Australian Financial Review

Page 1: Labor is set to back the Morrison government’s laws to allow the mining union to split from the CFMEU amid fresh warnings that the militant construction division wants to dominate the whole union.

Employers in 12 award areas hit hardest by the pandemic will be granted exemptions under the Fair Work Act for two years to allow them to alter the terms of employment of their workers.

Page 3: Facebook and Google will be permitted to count the monetary worth of online readers they deliver news websites in calculations to determine how much money they pay media organisations for the value of journalism on their platforms, under compromises reached by the federal government.

Page 4: Scott Morrison has renewed his pitch for international business leaders to relocate to Australia, part of a post-COVID ‘‘brain gain’’ plan targeted at the booming fintech sector.

Page 9: The 2021 census could be the nation’s last five-yearly population snapshot, with the Australian Bureau of Statistics to consider less costly and more secure methods of data collection.

Page 11: China’s exports rose at the fastest pace in almost three years in November, as strong global demand for goods needed to ride out the coronavirus pandemic landed the world’s second-largest economy a record trade surplus.

Page 12: The feud that tore apart the family owners of Australia’s most iconic theme park and cinema business has been brought to an end after shareholders voted for a sale of the 66-yearold business to private equity firm BGH Capital yesterday.

Page 13: Street Talk understands Western Australia-based internet service provider Pentanet has landed back in front of fund managers for its initial public offering, nine months since closing a pre-IPO fundraising.

Page 14: Metcash is passing lower prices from suppliers on to independent retailers so customers who started shopping at its IGA, Mitre 10, Home Timber & Hardware and Cellarbrations stores during the pandemic keep coming back.

Japan has been a difficult market for Australian wine producers over the past two decades, even though it is now considered as a partial replacement for the lucrative China export market that has been decimated by punishing tariffs.

Page 15: Reserve Bank governor Philip Lowe has given the strongest indication yet that buy now, pay later providers will be able to continue to insist merchants do not pass their costs on to customers, at least in the medium term.

Page 17: Australian scientists behind the only locally developed COVID-19 vaccine candidate concede they trail their rivals but say their product will be a more robust, better long-term option.

 

 

The Australian

Page 1: Retail, hospitality, restaurant and fast-food employers would be able to offer part-time workers extra hours without having to pay overtime under industrial relations changes designed to support industries and employees hit by the COVID-19 pandemic.

Page 2: Coalition backbenchers have raised concerns about whether the government’s proposal to force Google and Facebook to pay media companies for news content is too narrow and should be broadened to include other platforms like Twitter and YouTube.

Page 5: A lack of action on sky-high remote grocery prices has left impoverished Indigenous people paying 40 to 60 per cent more for food than other Australians, despite at least three inquiries over the past decade recommending similar solutions.

Western Australia has finally reopened its borders to people from Australia’s two most populous states, but Premier Mark McGowan has warned his citizens to think twice before heading east.

Page 6: Scott Morrison’s national commissioner for defence and suicide prevention will be able to review attempted suicides and be given the same independence as the Office of the Auditor-General, as the government makes a last-ditch attempt to establish the new role.

Coalition MPs have rounded on Scott Morrison’s plan to drop the use of Kyoto carry-over credits to reach Australia’s 2030 Paris targets.

Page 13: Some of the nation’s lenders have been quietly buying back stressed mortgages that have been packaged up as bonds and then sold to investors, which is potentially in breach of prudential standards, according to the banking regulator.

Page 14: Two of the companies being discussed recently over a potential tie-up are Primewest, founded and run by John Bond, son of the late businessman Alan Bond, and Growthpoint Properties Australia.

Page 15: Qantas’s outsourcing blitz has been extended to the airline’s crew and customer bus service at Sydney Airport, with another 50 jobs set to go.

Page 16: BHP has rolled off assistance to small business suppliers of the company, dropping the faster payment terms it introduced to help its suppliers survive the coronavirus pandemic.

Page 17: Westpac has taken a further step to scale down its international presence, offloading its Pacific banking businesses to ASX-listed Kina Bank for up to $420m.

 

 

The West Australian

Page 6: A crew member displaying COVID-19 symptoms aboard the Kwinana-docked cargo ship BW Matsuyama has been tested for the potentially deadly virus.

Page 7: WA will today lay out the welcome mat to arrivals from NSW and Victoria for the first time in eight months with a picture perfect summer’s day that will make everyone wish they were here.

The South West could be in line for a tourism boost, with Jetstar today announcing three flights a week from Melbourne to Busselton Margaret River Airport.

Page 9: Paul Whyte’s one-time bookie pocketed hundreds of thousands of dollars out of a property deal brokered by the corrupt public servant at a time when he owed massive gambling debts.

Page 12: Grocery stores in remote Indigenous communities will have to adhere to real-time price monitoring and snap inspections to help stamp out price gouging.

Page 14: New shadow treasurer Sean L’Estrange says COVID-19 is a “smokescreen” for weakness in the WA economy, which is too reliant on iron ore and being “propped up” by Job-Keeper.

Page 15: Rosie O’Grady’s has closed but Guinness lovers shouldn’t cry into their beer just yet as the black nectar will soon flow again at the much-loved Irish pub in Northbridge.

Business: WA businesses could be on the hook for up to $4.7 billion in potential double-dipping claims for casual workers without major reform to industrial relations laws, according to industry leaders.

The price of iron ore is approaching levels not seen since the last mining boom of a decade ago and sending the shares of ASX-listed producers of the commodity soaring.

IGO is finalising a $2 billion purchase of a major stake in the Greenbushes lithium mine in a deal that could save the project’s beleaguered Chinese owner.

MACA has confirmed reports it is eyeing a purchase of Downer’s Mining West division.

A two-year pursuit by the corporate regulator has ended with the Federal Court putting an alleged WA Ponzi scheme into liquidation, crystallising investor losses likely to run into the tens of millions of dollars.

The WA entrepreneur behind the popular Miss Chow’s dumpling house, Jacquie Chan, has not pressed pause during the coronavirus pandemic, and instead accelerated her expansion plans to capture the at-home dining market.

The Federal Government has warned non-live seafood exports could be held up at Chinese borders from next month after authorities at the Asian superpower requested new health certificates at short notice.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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