22/12/2020 - 06:52

Morning Headlines

22/12/2020 - 06:52

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Morning Headlines

Companies stripped of iron ore projects in Africa

Perth-based Sundance Resources is seeking a multi-billion-dollar payout from the Republic of Congo after being stripped of its iron ore mining licence in the central African nation where China is casting a big shadow. The Fin

Bigger than Westpac: Fortescue hits $74bn

Billionaire Andrew Forrest’s Fortescue Metals Group has surpassed Westpac as Australia’s sixth most valuable company after iron ore prices surged near decade-highs on rampant Chinese demand. The Aus

Woodside to defend legal tilt

Woodside Petroleum has vowed to defend a Supreme Court challenge that threatens to derail the energy giant’s plan to develop an integrated Burrup LNG hub in the Pilbara. The West

UK strain in Australia

A new strain of COVID-19 that transfers quicker than previous mutations has been brought into Australia by UK travellers, NSW Health has confirmed. The West

GST row reignites over bailout for Victoria

The economic damage from Melbourne’s prolonged COVID-19 lockdown has reignited a tussle over the distribution of the $63 billion goods and services tax, after the Commonwealth Grants Commission raised the potential of Victoria being ‘‘compensated’’ by other states. The Fin

Chic growth into UK label

City Chic is set to snap up UK plus-size clothing retailer Evans for £23.1 million ($41m) as the Australian fashion chain banks on the strength of e-commerce and prioritises a global expansion. The West

Revolt against Woolie’s PFD bid

Countrywide, the nation’s largest group of independently owned wholesale distributors in the food service industry, is marshalling food and grocery manufacturers that supply the $100bn supermarket sector to oppose Woolworths’ purchase of a controlling stake in PFD Food Services. The Aus

Shell sells $2.5b stake in Curtis Island plant

In the end-of-year rush to close out deals, global oil and gas giant Shell announced it has sold off over a quarter of its wholly-owned Curtis Island LNG processing site to Global Infrastructure Partners Australia for $US2.5 billion ($3.3 billion), while Origin Energy told investors it has bought into Western Australia’s Canning basin. The Fin

NIB swims against tide with big premium rise

ASX-listed health insurer NIB will increase premiums by 4.36 per cent in April, far ahead of the industry-wide average of an almost record low 2.74 per cent rise. The Aus

New medical chief ‘well suited for job’

Public health physician Paul Kelly’s appointment as Australia’s permanent Chief Medical Officer has been welcomed by doctors who say he is uniquely qualified to lead Australia’s fight against coronavirus. The Aus

 

 

The Australian Financial Review

Page 1: The economic damage from Melbourne’s prolonged COVID-19 lockdown has reignited a tussle over the distribution of the $63 billion goods and services tax, after the Commonwealth Grants Commission raised the potential of Victoria being ‘‘compensated’’ by other states.

Page 2: A government plan to give company directors a permanent reprieve on continuous disclosure obligations has been given a tick of approval by a parliamentary committee investigating litigation funders.

Page 7: Victoria’s $5.7 million hotel quarantine inquiry has failed to identify who made the fatal decision to hire private security guards in the bungled scheme, finding it was ‘‘an orphan’’ for which neither Premier Daniel Andrews nor any of his ministers took responsibility.

Page 9: Lendlease has become the first tier-one builder to reach a deal with the Construction, Forestry, Maritime, Mining and Energy Union on its controversial NSW agreement but has achieved concessions on pay rises and fixed days off.

Alcohol and fuel excise rules will be simplified by the federal government, in a bid to reduce red tape costs for manufacturers, importers and distributors.

Page 11: The proportion of private sector employees covered by enterprise agreements has fallen to its lowest level in three years, reversing recent gains and sending the bargaining system back into decline.

Page 15: In the end-of-year rush to close out deals, global oil and gas giant Shell announced it has sold off over a quarter of its wholly-owned Curtis Island LNG processing site to Global Infrastructure Partners Australia for $US2.5 billion ($3.3 billion), while Origin Energy told investors it has bought into Western Australia’s Canning basin.

ASIC has ordered the Australian Securities Exchange to launch an independent review of its technology and staffing, raising the prospect the ASX may have failed its licence obligations by failing to keep the market operating smoothly.

Page 17: Perth-based Sundance Resources is seeking a multi-billion-dollar payout from the Republic of Congo after being stripped of its iron ore mining licence in the central African nation where China is casting a big shadow.

Page 19: ASX-listed health insurer NIB will increase premiums by 4.36 per cent in April, far ahead of the industry-wide average of an almost record low 2.74 per cent rise.

 

 

The Australian

Page 2: Chinese authorities have postponed the trial of Australian citizen Yang Hengjun by three months, as the detained Australian writer continues to maintain his innocence of spying allegations after two years of detention.

Page 4: Public health physician Paul Kelly’s appointment as Australia’s permanent Chief Medical Officer has been welcomed by doctors who say he is uniquely qualified to lead Australia’s fight against coronavirus.

Page 7: Crime plummeted in Western Australia as the nation’s lengthiest and strictest border controls suffocated the methamphetamine business.

Page 13: Countrywide, the nation’s largest group of independently owned wholesale distributors in the food service industry, is marshalling food and grocery manufacturers that supply the $100bn supermarket sector to oppose Woolworths’ purchase of a controlling stake in PFD Food Services.

Billionaire Andrew Forrest’s Fortescue Metals Group has surpassed Westpac as Australia’s sixth most valuable company after iron ore prices surged near decade-highs on rampant Chinese demand.

Peak business groups representing the travel, airline, hospitality, agricultural and retail sectors are calling on federal cabinet to mandate a nationally consistent and predictable set of rules for managing local COVID-19 outbreaks, given the severe disruption to services due to widespread border closures imposed by state governments.

Page 14: The world’s largest producer of wind power, Iberdrola, is shaping up as a frontrunner to buy Infratil’s $1.2bn stake in Tilt Renewables should the stake be offloaded.

Page 15: The peak body representing the nation’s travel industry has accused the federal government of having multiple flaws in its recently announced $128m support package for embattled travel agents that has provoked confusion and uncertainty in the leadup to Christmas.

 

 

The West Australian

Page 4: Mark McGowan is expected to confirm as early as today the border with South Australia will come down on Christmas Day.

Page 7: A new strain of COVID-19 that transfers quicker than previous mutations has been brought into Australia by UK travellers, NSW Health has confirmed.

Page 18: Australia will ban imports of liquid nicotine used for vaping without a doctor’s prescription next year in a bid to prevent teenagers taking up pathways to smoking.

Page 21: City Chic is set to snap up UK plus-size clothing retailer Evans for £23.1 million ($41m) as the Australian fashion chain banks on the strength of e-commerce and prioritises a global expansion.

Page 47: Woodside Petroleum has vowed to defend a Supreme Court challenge that threatens to derail the energy giant’s plan to develop an integrated Burrup LNG hub in the Pilbara.

Page 48: Canada’s Kirkland Lake Gold will join Gina Rinehart and St Barbara on the register of Catalyst Metals as part of a $20 million raising by the Victoria-focused explorer to buy a Tasmanian goldmine.

 

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