29/01/2021 - 07:02

Morning Headlines

29/01/2021 - 07:02

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Morning Headlines

Eagles in salary net

The Eagles have been caught up in a major netball salary cap scandal with revelations that jobs at the AFL club were part of a range of compliance breaches relating to “third-party payments”. The West

Strong WA link to key executive roles to mend relations after Juukan Gorge disaster

Rio Tinto’s leadership reshuffle is a huge coup for WA, with the miner’s new boss — who has landed in Perth, where he is expected to report the company’s results for the first time — revealing three key roles will go to executives with deep roots in the Pilbara. The West

Wyatt to work for billionaire?

Miner and contracting firm Mineral Resources is in the box seat to recruit WA Treasurer Ben Wyatt after the State election in six weeks, The West Australian understands. The West

Fortescue says outlook rosy on China demand

Fortescue Metals Group chief executive Elizabeth Gaines is confident Chinese demand will continue to underpin the high prices that have left the iron ore producer and its bigger rivals BHP and Rio Tinto awash with cash and set to deliver bank-beating returns to shareholders. The Fin

Day trader raid rattles world stocks

The Australian market has been caught in the grip of an epic global short squeeze originating in a share punting forum hosted by the online platform Reddit, setting-off billions of dollars of short covering by professional investment managers, and a broader market sell-off. The Fin

Canada, Russia want in on barley row

Canada and Russia have moved to join Australia’s World Trade Organisation dispute with China as third parties, raising concerns over the legal and global trade impacts of Beijing’s tariffs on Australian barley exports. The Aus

Telstra to bring call centres back home

Telstra is planning to have all its consumer and small business calls answered within Australia within the next 18 months, chief executive Andy Penn said in a keynote speech to the Committee for Economic Development of Australia. The Aus

It’s payback time: loans stress fades

Households and small businesses are now paying back more than 80 per cent of the almost $250bn in loans deferred at the height of the coronavirus pandemic, with new figures revealing the national economic recovery is on track. The Aus

EU crisis could hit vaccine plan

Pharmaceutical giant AstraZeneca has thrown into doubt the timeline for 3.8 million doses of coronavirus vaccine destined for Australia, saying the situation overseas, particularly in Europe, is too fluid to predict. The Fin

Tax breaks to swell to $338b over four years

Australians will receive at least $338 billion in tax concessions on superannuation contributions and capital gains over the next four years, according to a new analysis by Treasury. The Fin

Qantas, BP link up in race to net zero

Qantas and energy giant BP will collaborate on a range of green energy projects for the aviation sector, including the development of sustainable fuels for the industry, as the pair target net-zero emissions by 2050. The Fin

 

 

The Australian Financial Review

Page 1: The Australian market has been caught in the grip of an epic global short squeeze originating in a share punting forum hosted by the online platform Reddit, setting-off billions of dollars of short covering by professional investment managers, and a broader market sell-off.

Japan is encouraging Australia to step up joint naval exercises and patrols in the East China Sea to help preserve regional peace and stability amid increasing incursions by Chinese vessels and aircraft into Japanese and Taiwanese territory.

Page 3: Pharmaceutical giant AstraZeneca has thrown into doubt the timeline for 3.8 million doses of coronavirus vaccine destined for Australia, saying the situation overseas, particularly in Europe, is too fluid to predict.

Page 5: Australians will receive at least $338 billion in tax concessions on superannuation contributions and capital gains over the next four years, according to a new analysis by Treasury.

Page 10: The head of the competition regulator has labelled Google’s solution to the proposed news media bargaining code – its News Showcase product – another example of its empire-building take-it-or-leave-it proposition, as Google claims its threat to pull its search engine from Australia was misrepresented.

Page 16: Apple on Wednesday (Thursday AEDT) reported holiday quarter sales and profits that beat Wall Street expectations, as new 5G iPhones helped push handset revenue to a record and sparked a 57 per cent rise in China sales.

Page 17: Fortescue Metals Group chief executive Elizabeth Gaines is confident Chinese demand will continue to underpin the high prices that have left the iron ore producer and its bigger rivals BHP and Rio Tinto awash with cash and set to deliver bank-beating returns to shareholders.

Page 19: Rio Tinto says a need to rebuild trust, particularly in Australia in the wake of the Juukan Gorge blasts, was a major factor behind a near-complete overhaul of its leadership team.

Page 22: Qantas and energy giant BP will collaborate on a range of green energy projects for the aviation sector, including the development of sustainable fuels for the industry, as the pair target net-zero emissions by 2050.

 

 

The Australian

Page 1: Households and small businesses are now paying back more than 80 per cent of the almost $250bn in loans deferred at the height of the coronavirus pandemic, with new figures revealing the national economic recovery is on track.

Page 6: Australia’s public finances have deteriorated more than those of any other large developed nation, according to the International Monetary Fund’s latest set of global comparisons.

Canada and Russia have moved to join Australia’s World Trade Organisation dispute with China as third parties, raising concerns over the legal and global trade impacts of Beijing’s tariffs on Australian barley exports.

Page 16: The process to find a replacement for outgoing Nine Entertainment chief executive Hugh Marks is understood to have narrowed to two parties, with Stan boss Mike Sneesby still in the mix, along with an external candidate.

Page 17: Telstra is planning to have all its consumer and small business calls answered within Australia within the next 18 months, chief executive Andy Penn said in a keynote speech to the Committee for Economic Development of Australia.

Page 20: Fortescue Metals has confirmed the total cost of its massive Pilbara magnetite project is “undergoing a detailed review” as the cash continues to roll in from bumper iron ore prices.

Newcrest Mining’s output rose and costs fell in the December quarter as the company put in a solid performance, but warned it expected the cost of protecting its workforce and communities from the pandemic to double.

 

 

The West Australian

Page 1: The Eagles have been caught up in a major netball salary cap scandal with revelations that jobs at the AFL club were part of a range of compliance breaches relating to “third-party payments”.

Page 3: Miner and contracting firm Mineral Resources is in the box seat to recruit WA Treasurer Ben Wyatt after the State election in six weeks, The West Australian understands.

Page 5: The head of Perth’s new International Space Centre, which was launched yesterday at the University of WA, has said the State is uniquely positioned to capitalise on the multibillion-dollar global industry.

Page 6: Newly appointed shadow minister for resources Madeleine King says she would like to visit China as soon as possible to help ensure a strong pipeline of business for the sector for years to come.

Page 21: Shopping centres, supermarkets and takeaway food outlets across WA will be legally required to keep a register of customers under a major expansion of the coronavirus outbreak safety measure.

Business: Rio Tinto’s leadership reshuffle is a huge coup for WA, with the miner’s new boss — who has landed in Perth, where he is expected to report the company’s results for the first time — revealing three key roles will go to executives with deep roots in the Pilbara.

IGO is inching closer to a decision on the fate of its 30 per cent stake in the Tropicana gold mine, telling investors that a sale of its share in the eastern Goldfields asset is still the preferred outcome.

The founder of Australia’s oldest Indigenous mining contractor is exploring other opportunities to develop the country’s first Aboriginal-owned iron ore mine after being thwarted by a falling-out with his partners last year.

Australia’s recently returned ambassador to Japan, Richard Court, has been appointed to the board of BCI Minerals as a non-executive director.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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