06/01/2021 - 05:56

Morning Headlines

06/01/2021 - 05:56

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Morning Headlines

Surge in iron ore exports

Pilbara iron ore producers shipped a record 874.2 million tonnes in 2020 as they sprinted to cash in on surging prices for the steel-making commodity. The West

Fears over business failures ease

Thousands of small businesses across hospitality, retail, tourism and real estate face financial failure this year, but the rise in insolvencies will not be as bad as originally feared due to a faster economic recovery, according to corporate undertakers. The Fin

Proof super rises hurt workers’ pay packets

Workers are paying for between 71 per cent and 100 per cent of the increases in superannuation contributions through lower take-home pay, according to economic research prepared for the federal government. The Fin

High LNG price sends chill up buyers’ spines

An unprecedented surge in LNG prices in Asia is ringing alarm bells among industrial energy users on the east coast amid forecasts that domestic gas prices could be driven back up into double figures, despite lacklustre demand. The Fin

KPMG eases up on promotion freeze

KPMG kick-started 2021 with 33 partner promotions in practice groups that span the firm, signalling its strong recovery from the pandemic after it paused appointments in April. The Fin

Ares in talks with banks for AMP bid

US suitor Ares Management is in active talks with at least three parties, including Macquarie Group, to participate in buying AMP’s bank as part of its broader $6bn-plus takeover tilt for the 172-yearold wealth group.

Companies pay JobKeeper shortfall

Australian companies are taking up the slack as billions of dollars in Jobkeeper subsidies are wound back, supporting Scott Morrison’s call for a business-led recovery out of COVID-19. The West

Cash hit for boeing over plane delays

Boeing faces a new cash drain from structural flaws on its marquee 787 Dreamliner jets, potentially slowing the company’s recovery from the pandemic and the grounding of the 737 Max, a Bernstein analyst said. The West

Qantas sets date for overseas flights

Qantas has signalled its confidence in the return of international travel following the global rollout of COVID-19 vaccines, on Tuesday reopening bookings across its entire overseas network from July 1, 2021. The Aus

 

 

The Australian Financial Review

Page 1: Thousands of small businesses across hospitality, retail, tourism and real estate face financial failure this year, but the rise in insolvencies will not be as bad as originally feared due to a faster economic recovery, according to corporate undertakers.

Workers are paying for between 71 per cent and 100 per cent of the increases in superannuation contributions through lower take-home pay, according to economic research prepared for the federal government.

Page 3: The Morrison government should express its support for Julian Assange to be granted bail following an English court’s decision to block his extradition to the United States, his long-serving Australian barrister says.

Page 5: Australian experts are optimistic COVID-19 vaccines will reduce the transmission of the virus and say the extent could be known within weeks.

Page 7: The jobs market is entering the new year with strong momentum, after employment ads surged 9.2 per cent in December to rise above pre-pandemic levels.

Page 9: Britain has lurched back into a full-strength lockdown, as Prime Minister Boris Johnson unveiled an immediate shutdown of economic, social and educational activity until at least mid-February.

Page 13: An unprecedented surge in LNG prices in Asia is ringing alarm bells among industrial energy users on the east coast amid forecasts that domestic gas prices could be driven back up into double figures, despite lacklustre demand.

SolGold managing director Nicholas Mather wants to repair his fractured relationship with BHP and Newcrest Mining after an acrimonious year that culminated in a massive protest vote against his re-election to the board of the high-profile copper explorer.

Page 16: KPMG kick-started 2021 with 33 partner promotions in practice groups that span the firm, signalling its strong recovery from the pandemic after it paused appointments in April.

Page 17: Electricity suppliers have thrown their weight behind a push by the country’s top energy policy adviser for a national approach to spurring on-demand power generation amid worries of a splintering between states that could further delay new projects.

 

 

The Australian

Page 2: The federal government’s energy security advisor has suggested renewable energy generators be offered incentives to build projects in particular zones across Australia, in a bid to drive investor confidence and deliver long-term benefits to consumers.

Since slapping an 80 per cent tariff on Australian barley in May, China has also imposed restrictions on coal, copper ore, sugar, wine and crayfish, as well as the blanket timber ban.

Page 3: Qantas has signalled its confidence in the return of international travel following the global rollout of COVID-19 vaccines, on Tuesday reopening bookings across its entire overseas network from July 1, 2021.

Page 13: US suitor Ares Management is in active talks with at least three parties, including Macquarie Group, to participate in buying AMP’s bank as part of its broader $6bn-plus takeover tilt for the 172-yearold wealth group.

Page 15: Shares in furniture retailer Nick Scali hit record highs on Tuesday after the company lifted guidance for a second time, saying it now expected its underlying profits for the first half of the financial year to double last year’s result.

 

 

The West Australian

Page 5: A mutant strain of COVID-19 which has forced England into lockdown has been detected in WA for the first time, as an infected overseas arrival was yesterday transferred to Royal Perth Hospital after their health deteriorated.

Page 7: Australian health workers who have received a coronavirus vaccine in Britain say the jabs should be rolled out the “sooner the better” at home.

Page 8: Ocean temperatures between Perth and Exmouth are expected to rise to their highest level in a decade in the coming months, according to a CSIRO forecast.

Business: Pilbara iron ore producers shipped a record 874.2 million tonnes in 2020 as they sprinted to cash in on surging prices for the steel-making commodity.

Jewellery chain Lovisa has had to close its entire British network because of a new nationwide lockdown imposed to curb the rise of a more infectious strain of coronavirus.

There has never been a more important time to support WA enterprises, according to local business owners, who argue it will help drive the State’s economic recovery.

Australian companies are taking up the slack as billions of dollars in Jobkeeper subsidies are wound back, supporting Scott Morrison’s call for a business-led recovery out of COVID-19.

The head of WA’s biggest venture capital fund, Derek Gerrard, had to adjust his investment model when the world was hit by the coronavirus pandemic but he says it didn’t stop him committing to new projects as he eyes new targets this year.

Bob Bishop’s Impala Resource Fund, which gained more than 30 per cent in 2020, is predicting a long-term bull market for commodities.

Boeing faces a new cash drain from structural flaws on its marquee 787 Dreamliner jets, potentially slowing the company’s recovery from the pandemic and the grounding of the 737 Max, a Bernstein analyst said.

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