16/12/2020 - 06:46

Morning Headlines

16/12/2020 - 06:46

Bookmark

Save articles for future reference.

Stadium of ire costs taxpayers

Morning Headlines

Stadium of ire costs taxpayers

West Australian taxpayers could be forced to write another cheque for Perth’s landmark Optus Stadium amid the latest dispute to emerge from the $1.4bn project. The Aus

Treasurer plots ASIC shakeout

Treasurer Josh Frydenberg is working on an overhaul of the corporate watchdog’s structure, ahead of a shake-up next year that is likely to include fewer full-time commissioners and help businesses understand who is in charge of regulating their activities. The Fin

MYEFO to lift aged-care spend by $1b

The Morrison government will use this week’s mid-year budget update to fund another 10,000 home-care packages for the elderly in a further down payment ahead of the final report of the royal commission into aged care next year. The Fin

Jetstar says domestic flights set to soar

Jetstar has become the first local airline to say its domestic capacity will rise above pre-pandemic levels early next year as it looks to capitalise on a market bereft of any other low-cost option. The Fin

Grain giant hoping for best, planning for worst on China

Australia’s biggest grain exporter is planning for the worst and hoping for the best in terms of the prospect of China adding wheat to the trade-crippling sanctions it slapped on barley. The Fina

Yansteel to take half-stake in Kimberley project

The Federal Government has cleared the way for a Chinese company to take a 50 per cent stake in an emerging mineral sands project in the Kimberley despite the deteriorating relationship between the two countries. The West

St Barbara eyes Gwalia growth plans

St Barbara has put its ageing Gwalia goldmine near Leonora front and centre of a plan to boost output by 40 per cent to as much as 570,000oz by 2025. The West

Next step for Downer: divestment of the remainder of its mining arm

With the sale of its West Australian mining services operations under its belt, Downer will focus next year on other assets earmarked for divestment. The Aus

$20m hotel hits a hurdle

Construction of a $20 million high-rise hotel that would become the most luxurious in the Pilbara has been delayed for the third time this year. The West

COVID jab to divide & conquer

Australians will be divided into 12 age brackets for the rollout of the COVID-19 vaccine. The West

 

 

The Australian Financial Review

Page 1: Treasurer Josh Frydenberg is working on an overhaul of the corporate watchdog’s structure, ahead of a shake-up next year that is likely to include fewer full-time commissioners and help businesses understand who is in charge of regulating their activities.

Prime Minister Scott Morrison has accused China of breaching trade obligations with its blacklisting of Australian coal, as experts warned miners will be forced to cut production because alternative markets cannot absorb the volumes of coal abandoned by China.

Page 2: New data revealing an average return on investment of six times from first wave grants by the Advanced Manufacturing Growth Centre supports the government’s strategy of picking winners, says the centre’s managing director Jens Goennemann.

Page 4: The Morrison government will use this week’s mid-year budget update to fund another 10,000 home-care packages for the elderly in a further down payment ahead of the final report of the royal commission into aged care next year.

Page 8: Australia’s top chief executives have urged governments to seize the opportunity provided by the COVID-19 crisis and turbocharge the recovery with a reform agenda that encourages employment, infrastructure spending, climate action and digital innovation.

Page 11: Jetstar has become the first local airline to say its domestic capacity will rise above pre-pandemic levels early next year as it looks to capitalise on a market bereft of any other low-cost option.

Page 14: British government will fine companies such as Facebook, Twitter and TikTok more than £18 million ($32 million) if they allow users to post child porn, terrorist content or anti-vaccination disinformation, under new laws to be introduced next year.

Page 15: Non-bank lender Liberty Financial Group, whose shares popped as it listed on the ASX, is confident it can steal mortgage business from major banks with better quality customer service and is expecting strong demand for housing finance to help drive net profit up 18 per cent this financial year.

The prudential regulator has given a green light to higher bank dividend payments next year, dumping the COVID-19 restriction for banks to cap shareholder payouts at 50 per cent of profits.

Page 18: The ACCC chairman says the supermarket group will get even more clout in already lopsided bargaining with food manufacturers.

Shares in Retail Food Group tumbled more than 23 per cent after the consumer watchdog flagged it is suing the company and five of its related entities in the Federal Court for allegedly lying and ripping off its franchisees.

Australia’s biggest grain exporter is planning for the worst and hoping for the best in terms of the prospect of China adding wheat to the trade-crippling sanctions it slapped on barley.

 

 

The Australian

Page 2: West Australian taxpayers could be forced to write another cheque for Perth’s landmark Optus Stadium amid the latest dispute to emerge from the $1.4bn project.

Page 4: Joel Fitzgibbon will lash out at opposition energy spokesman Mark Butler for claiming it will take Australia 146 years to reach carbon neutrality under the Morrison government’s policies, as the Hunter MP escalates his campaign for Labor to avoid setting medium-term emissions targets while in opposition.

Page 6: Farms would be required to pay workers a minimum $24.80 an hour under changes being sought by the Australian Workers’ Union following revelations that backpackers were being paid as little as $3 an hour to pick fruit.

Page 13: The nation’s top miners have held crisis talks over escalating trade tensions with China as ship owners holding blacklisted Australian coal off the Chinese coast threaten legal action over the mounting costs of a ban that has crunched the nation’s second-biggest export industry.

The iron ore price is set to stay strong into the early part of next year, analysts say, despite calls from China’s peak steel industry group for government intervention in the market over complaints of market manipulation.

Page 14: With the sale of its West Australian mining services operations under its belt, Downer will focus next year on other assets earmarked for divestment.

Page 19: The nation’s second-largest retail stockbroking platform, CMC Markets, says the COVID-19 pandemic has spawned a new, younger breed of online trader more prepared to buy international technology stocks.

 

 

The West Australian

Page 3: WA is back on high alert after multiple sightings of great white sharks yesterday.

Page 9: A female worker at a Mid West gold mine has been killed after being hit by a mining vehicle underground yesterday morning.

The City of Perth council has begrudgingly accepted that it has to foot the bill for a $7.7 million probe into its predecessors, without a State Government guarantee homeless services would be funded in return.

Page 20: Construction of a $20 million high-rise hotel that would become the most luxurious in the Pilbara has been delayed for the third time this year.

Page 22: Principals and teachers across the Pilbara have been warned not to back a Nationals-led petition calling for urgent works to fix basic facilities at the notoriously run-down Hedland Senior High School.

Page 24: Australians will be divided into 12 age brackets for the rollout of the COVID-19 vaccine.

Business: The Federal Government has cleared the way for a Chinese company to take a 50 per cent stake in an emerging mineral sands project in the Kimberley despite the deteriorating relationship between the two countries.

St Barbara has put its ageing Gwalia goldmine near Leonora front and centre of a plan to boost output by 40 per cent to as much as 570,000oz by 2025.

WA conglomerate Wesfarmers has made good on its promise to add more digital depth to its board with the appointment of a high-profile Google executive.

Resolute Mining has sold its shuttered Bibiani goldmine in Ghana to China’s Chifeng for $US105 million ($140m).

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options