15/12/2020 - 06:49

Morning Headlines

15/12/2020 - 06:49

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Morning Headlines

Two-way NZ bubble by March

New Zealand’s decision to open a two-way trans-Tasman travel bubble was a step towards ‘‘international normality’’, the Morrison government said, but it could be too late for Australian tourist operators to benefit from an influx of Kiwis for the summer holidays. The Fin

China chastens iron exporters

Australia’s two biggest iron ore producers have been called in for a dressing down by China’s peak steel industry body amid rising concerns China’s action against Australian metallurgical coal producers is combining with high iron ore prices to damage Chinese industry. The Aus

MACA halts ahead of Downer buy

MACA is understood to be buying the Western Australia-based Downer Mining business in a deal believed to be worth about $200m. The Aus

New weld drama for Chevron

Fresh from repairing cracks at its Gorgon LNG project, Chevron has welding troubles on a new front after the offshore safety regulator yesterday ordered the energy giant to fix problems at the Wheatstone plant. The West

Regis to go underground

Regis Resources has approved the $76 million development of the second underground mine at its Duketon gold operations 100km north of Laverton. The West

Afterpay soars as ASX rally rolls on

Buy now, pay later juggernaut Afterpay surged to a record yesterday on the confirmation that it will officially join Australia’s top 20 stocks next week, keeping the sharemarket rally alive as expectations of healthy returns supported by more central bank stimulus are sown for 2021. The Fin

Medallion pulls $20m IPO

Medallion Metals boss Paul Bennett says the company is considering all its options after pulling a proposed $20 million initial public offering of the advanced gold developer. The West

Closed borders to free 200,000 homes

International border closures to immigrants during COVID-19 will free up almost 200,000 extra homes over the next two years and put downward pressure on city rental prices, the federal government’s affordable housing agency says. The Fin

Eftpos, BPay, NPP unite to take on card giants

Three domestic payment systems – Eftpos, BPay and NPP Australia – have agreed to merge in a deal that would create a larger, co-ordinated player better able to compete against US card giants Visa and Mastercard, which have been stealing market share in debit payments. The Fin

Reforms a gift for nation’s charities

Josh Frydenberg has struck a deal with state and territory treasurers to roll out major reform across the charities sector, cutting red tape for thousands of not-for-profits and removing strict financial reporting rules for more than 5000 charities. The Aus

 

 

The Australian Financial Review

Page 1: Buy now, pay later juggernaut Afterpay surged to a record yesterday on the confirmation that it will officially join Australia’s top 20 stocks next week, keeping the sharemarket rally alive as expectations of healthy returns supported by more central bank stimulus are sown for 2021.

Page 3: International border closures to immigrants during COVID-19 will free up almost 200,000 extra homes over the next two years and put downward pressure on city rental prices, the federal government’s affordable housing agency says.

Page 4: New Zealand’s decision to open a two-way trans-Tasman travel bubble was a step towards ‘‘international normality’’, the Morrison government said, but it could be too late for Australian tourist operators to benefit from an influx of Kiwis for the summer holidays.

Page 6: Liberal MPs at both ends of the industrial relations spectrum believe the government should dump a provision enabling distressed employers to apply for a two-year enterprise agreement that does not comply with the Better Off Overall Test.

Agriculture groups are pushing the Morrison government to use the midyear budget update to fund a strategy to help them diversify their markets after China’s trade strikes against a raft of export industries.

Page 9: Financial regulators will join banks and insurers in being grilled by a parliamentary committee poised to investigate financial institutions for pulling back on lending and insurance to mining-related businesses because of climate change.

Page 14: Three domestic payment systems – Eftpos, BPay and NPP Australia – have agreed to merge in a deal that would create a larger, co-ordinated player better able to compete against US card giants Visa and Mastercard, which have been stealing market share in debit payments.

Page 16: Renewable energy generation is set to defy a historic drop in global electricity demand this year due to the COVID-19 pandemic, but coal-fired power stations will be the biggest loser.

Page 20: The competition regulator will not stand in the way of wealth giant IOOF’s ambitious acquisition of the National Australia Bank’s MLC, noting that the combined group would still face ‘‘significant competition’’ from industry superannuation funds.

 

 

The Australian

Page 1: The nation’s top spy agency has begun investigating revelations that Chinese Communist Party members have been working in Australia’s consulate in Shanghai for years.

Page 2: Josh Frydenberg has struck a deal with state and territory treasurers to roll out major reform across the charities sector, cutting red tape for thousands of not-for-profits and removing strict financial reporting rules for more than 5000 charities.

Page 3: More than one in two Australians has high levels of concern about fake news and disinformation being spread on social media, with 58 per cent worried that their personal information could be hacked or misused on digital platforms.

Page 6: Alexander Downer has warned business leaders that they risk alienating the public, their customers and their staff if they side with China against the Morrison government to “push up their share prices”.

Page 13: Australia’s two biggest iron ore producers have been called in for a dressing down by China’s peak steel industry body amid rising concerns China’s action against Australian metallurgical coal producers is combining with high iron ore prices to damage Chinese industry.

Page 14: MACA is understood to be buying the Western Australia-based Downer Mining business in a deal believed to be worth about $200m.

Page 15: Travel giant Flight Centre has been accused of underpaying workers, not allowing adequate breaks and forcing them to attend motivational ‘‘buzz nights’’ to discuss sales.

Page 16: Crown has been hit with a string of allegations surrounding its governance failures and links to junket operators as law firm Maurice Blackburn looks to secure support for a second class action against the gaming major.

 

 

The West Australian

Page 5: Collingwood president Eddie McGuire choked back tears yesterday while making the shock announcement that he will stand down from the top job at the Magpies at the end of next year.

Page 12: There seems to be nothing but green lights ahead for an Australia-wide vaccine rollout early next year.

Page 14: WA’s public health services are failing to help the soaring number of children and young people with mental illness, a report reveals.

Page 16: West Australians are tipped to return to work much quicker than just two months ago as billions of dollars of infrastructure investment combine with a housing construction boom to propel the State back to growth.

At least $8.6 billion in royalties — largely from iron ore exports to China — is set to flow to the State Government this year but WA’s retiring Treasurer Ben Wyatt has sounded a warning the commodity’s sky-high price was a “boom that is not sustainable”.

Reducing the payroll tax burden for business is a “centrepiece reform” that would drive diversification of the economy, according to the WA Chamber of Commerce and Industry.

Page 18: Gingin District High School’s Year 10 students on Friday graduated from a six-week course on fire safety, firefighting and bushfire management — one year after a terrifying bushfire tore through 12,000ha of land north of Perth.

Business: Fresh from repairing cracks at its Gorgon LNG project, Chevron has welding troubles on a new front after the offshore safety regulator yesterday ordered the energy giant to fix problems at the Wheatstone plant.

The next two weeks could be make-or-break for some retailers still struggling to regain ground lost in the wake of the COVID-19 pandemic.

Medallion Metals boss Paul Bennett says the company is considering all its options after pulling a proposed $20 million initial public offering of the advanced gold developer.

WA hydrogen exporters are looking to the lucrative German energy market.

Biometric facial recognition technology will be rolled out at Perth Airport as part of plans to develop the country’s first common departure lounge.

The Federal Government is biting the bullet and cleaning up a former Woodside Petroleum floating oil production ship abandoned in the Timor Sea but has yet to convince industry to pick up the potential $250 million clean-up bill.

Further payroll tax reforms are needed to stop WA businesses losing work to the Eastern States, industry leaders say, amid concern from traders who say it discourages growth.

Regis Resources has approved the $76 million development of the second underground mine at its Duketon gold operations 100km north of Laverton.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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