18/12/2020 - 06:58

Morning Headlines

18/12/2020 - 06:58

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Morning Headlines

Handout to cut fees for students at Catholic uni

More than 2000 students at the Perth-based University of Notre Dame will pay lower fees following a Morrison government decision to treat the Catholic higher education institution like a public university. The Aus

Debt and deficit repair on hold despite early jobs rebound

The government will delay the task of budget repair for another three years despite a stronger-than-expected recovery in jobs growth, including a forecast the unemployment rate will fall below 6 per cent a year earlier than predicted just two months ago. The Fin

Exporters may sue China over sanctions

Companies financially damaged by China’s escalating trade sanctions are considering suing Beijing under provisions in the China-Australia free trade agreement. The Fin

FAR oil bid upsets play by Woodside

A surprise $210 million takeover approach for oil explorer FAR from little known private investment firm Remus Horizons appears to have thrown a spanner in the works of Woodside Petroleum’s plans to buy its junior partner out of its $US4.2 billion ($5.5 billion) oil project in Senegal. The Fin

New mine deals to grow port exports

Geraldton Port’s annual exports are expected to surge by 1.5 million tonnes from existing mines, and a further 2m tonnes of new agreements have been signed with the owners of three new mines. The West

Retailers’ tills set to ring in sales after Christmas

Retailers are set for a bumper post-Christmas trading period, with shoppers predicted to spend about $19.5 billion in the three weeks from the traditional Boxing Day sales, data suggests. The West

Qantas, BHP lead in push for net zero

Qantas, BHP and Woodside Energy are among the 43 per cent of the world’s biggest emitting companies that have adopted some form of net zero emissions target, a new report by Climate Action 100+ finds. The Fin

Arnott’s bites into Freedom Foods

The battered Freedom Foods, whose shares have been suspended since June, is selling off its health cereal and snacks business to Arnott’s. the Aus

Bitcoin passes $US20,000 for the first time

Bitcoin surged above $US20,000 on Wednesday for the first time in its 12-year history, part of a furious rally that has seen the digital currency nearly triple this year. The Aus

No longer jobs for the boys at RBA

Australia’s central bank now has as many women as men on its board for the first time after Treasurer Josh Frydenberg yesterday announced two appointments. The West

 

 

The Australian Financial Review

Page 1: The government will delay the task of budget repair for another three years despite a stronger-than-expected recovery in jobs growth, including a forecast the unemployment rate will fall below 6 per cent a year earlier than predicted just two months ago.

Page 3: Western Australia has ignored calls from the federal government not to reinstate tough border bans against residents of NSW as a COVID-19 cluster in Sydney’s suburbs grew to 17 cases.

Page 6: The federal government estimates it will save an extra $457 million in interest payments over the next four financial years following the Reserve Bank’s massive government bond buying program that has been driving borrowing costs down.

A soaring iron ore price is set to be a budget saviour for the federal government in the new year, with the bulk expected to remain well above the government’s forecast price across the next nine months.

Page 10: Qantas has won an appeal that overturns a landmark ruling that found the airline misused JobKeeper in a way that allowed it to pocket parts of the wage subsidy, and which exposed thousands of other businesses to potential backpay claims.

Page 12: Companies financially damaged by China’s escalating trade sanctions are considering suing Beijing under provisions in the China-Australia free trade agreement.

Page 13: Ten state attorneys-general on Wednesday (Thursday AEDT) accused Google of illegally abusing its monopoly over the technology that delivers ads online, adding to the company’s legal troubles with a case that strikes at the heart of its business.

Page 16: Rio Tinto has promoted its chief financial officer Jakob Stausholm to be its next chief executive, resisting pressure to appoint an Australian citizen as part of efforts to boost its engagement with the nation that provides the majority of its earnings.

Page 18: The Mongolian government has expressed ‘‘great concern’’ at the ‘‘diminished’’ prospectivity of Rio Tinto’s Oyu Tolgoi copper project, after the multinational miner delivered its final verdict on the size of its cost and schedule blowouts.

A surprise $210 million takeover approach for oil explorer FAR from little known private investment firm Remus Horizons appears to have thrown a spanner in the works of Woodside Petroleum’s plans to buy its junior partner out of its $US4.2 billion ($5.5 billion) oil project in Senegal.

Euro Garages, owner of the Woolworths petrol station network, is suing its fuel supplier, Ampol, alleging misleading or deceptive conduct in connection with Ampol’s rebranding of its petrol stations from the globally known Caltex name.

Page 19: Boots and outback clothing maker RM Williams has doubled its online sales in the past 12 months amid the structural shift to e-commerce during the pandemic, but is banking on a bricks-and-mortar retailing expansion to drive growth offshore.

Page 23: Qantas, BHP and Woodside Energy are among the 43 per cent of the world’s biggest emitting companies that have adopted some form of net zero emissions target, a new report by Climate Action 100+ finds.

 

 

The Australian

Page 3: The federal aged-care watchdog failed to issue a single sanction in Victoria during the height of the state’s deadly second wave as coronavirus infections spiralled out of control, tearing through the state’s nursing homes and killing more than 600 residents.

Page 4: Labor says the improvement in the Morrison government’s budget bottom line will fail to give certainty to millions of Australians ahead of the end of the Job-Keeper payments in March.

More than 2000 students at the Perth-based University of Notre Dame will pay lower fees following a Morrison government decision to treat the Catholic higher education institution like a public university.

Page 7: Thermal GPS-enabled sensors will be installed in frozen shipper boxes to track the location and temperature of COVID-19 vaccines across Australia and prevent any spoilage.

Page 8: Australian National University economics professor Warwick McKibbin — whose “authoritative” research was used to justify Labor’s climate policies at the last election — has rejected the need for rigid medium-term emissions targets to take action on climate change and reach zero-net emissions by 2050.

Page 15: The Insurance Council of Australia has warned the industry faces $10bn in claims if it fails in a high-stakes battle over business interruption payouts.

Page 17: Transurban has sold a 50 per cent stake in its US highways for $2.8bn to Australian and Canadian superannuation investors, handing the toll road giant financial firepower to buy new assets including Sydney’s WestConnex.

Page 18: The battered Freedom Foods, whose shares have been suspended since June, is selling off its health cereal and snacks business to Arnott’s.

Page 19: Domestic airline Regional Express says its $150m investment in a new 737-800 fleet will proceed despite the corporate watchdog’s decision to punish the airline for disclosure lapses by restricting future fundraising efforts.

Page 23: Bitcoin surged above $US20,000 on Wednesday for the first time in its 12-year history, part of a furious rally that has seen the digital currency nearly triple this year.

 

 

The West Australian

Page 7: French President Emmanuel Macron has tested positive for COVID-19, his office says, although it was not clear at this stage where he had contracted the virus.

Page 14: A former board member of one of Perth’s most prestigious schools stockpiled hundreds of “degrading” child sex abuse images and videos, including footage of children as young as five, in an online Google account titled “johnlovestolick”.

Page 28: Australia’s central bank now has as many women as men on its board for the first time after Treasurer Josh Frydenberg yesterday announced two appointments.

Page 32: WA has recovered nearly every job lost during the coronavirus pandemic with the State’s unemployment rate improving again in November to 6.4 per cent on the back of big gains in fulltime work.

Page 34: The WA Nationals have hired a consultant to review the party’s internal complaints process after a female MP revealed she’d suffered “bullying, threats and intimidation”.

Page 75: Dean Nalder is accusing Liberal powerbroker Nick Goiran of “seeking to insert” his own candidate in the highly prized seat of Bateman.

Plans to build a mega-Chinatown in Geraldton — including thousands of houses, an international school, specialty shops and a resort — have been put on hold indefinitely.

Page 76: Eye disease has emerged as the most costly condition to treat on the nation’s Pharmaceutical Benefits Scheme, outscoring cancer and even Hepatitis C which both have extremely high cost treatments.

Business: Geraldton Port’s annual exports are expected to surge by 1.5 million tonnes from existing mines, and a further 2m tonnes of new agreements have been signed with the owners of three new mines.

The Buckeridge family’s BGC is readying to take advantage of a long overdue pick-up in WA homebuilding after the competition regulator yesterday cleared its purchase of Midland Brick.

Retailers are set for a bumper post-Christmas trading period, with shoppers predicted to spend about $19.5 billion in the three weeks from the traditional Boxing Day sales, data suggests.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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