04/02/2021 - 07:09

Morning Headlines

04/02/2021 - 07:09

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Morning Headlines

Pichai pitches alternative news model

Alphabet chief executive Sundar Pichai used the company’s fourth-quarter earnings call to defend its monopolistic business model to investors as it threatens to block its search engine in Australia. The Fin

Union rips contractor for 46-day rosters

A union has slammed Chevron contractor UGL for calling on workers on the Gorgon LNG project on Barrow Island to volunteer for rosters of up to 46 days and longer. The West

Loans plan for virus-hit businesses

Treasury is considering a revenue-contingent business loan scheme as part of the Morrison government’s targeted, post-JobKeeper support package for industries that continue to suffer from restrictions associated with the global coronavirus pandemic. The Aus

Bottle shops clear winner in panic buy spend trend

Spending data from WA’s first days of COVID lockdown shows a dramatic surge of consumer activity as panic buyers hit supermarkets, pharmacies and bottle shops in droves. The West

Winemakers battle smoke, lockdowns & tariffs

Swan Valley winemakers and table-grape growers are facing a vintage like no other as they race to pick the fruit as fires rage, and uncertainty remains over COVID-19. The West

Asset bubbles no worry

Resurgent house prices and sharemarkets show no signs of becoming unsustainable bubbles despite record cheap money for years ahead, Reserve Bank of Australia governor Philip Lowe has argued, following the central bank’s move to buy another $100 billion in government bonds this year. The Fin

Clusters of new British strain show vaccine-busting mutation

The new British variant of COVID-19 has evolved a mutation similar to that of the South African and Brazilian strains, which strips 90 per cent from the Pfizer/BioNTech vaccine’s efficacy, scientists have warned. The Fin

Gas to retain critical role in generation: WoodMac

Australia will need about 10 times more gas for power generation than is being assumed by the energy market operator, according to consultancy Wood Mackenzie, which is warning of the risks of switching too rapidly to rely on batteries to back up weather-dependent renewables.

Microsoft ready to step up on search

Tech giant Microsoft has committed to step up investment in Australia to transform its search engine, Bing, into a fit-for-purpose service for small businesses across Australia if Google shuts down its dominant search service. The Aus

Amazon’s $US200bn man steps aside

The world’s second-richest man Jeff Bezos will step back from the day-to-day running of Amazon, handing over the reins of the company he transformed from a small online bookstore to a global tech behemoth. The Aus

 

 

The Australian Financial Review

Page 1: Resurgent house prices and sharemarkets show no signs of becoming unsustainable bubbles despite record cheap money for years ahead, Reserve Bank of Australia governor Philip Lowe has argued, following the central bank’s move to buy another $100 billion in government bonds this year.

Page 4: Reserve Bank governor Philip Lowe has backed the Morrison government’s decision to wind back JobKeeper at the end of next month, but called for a permanent increase to unemployment benefits as a matter of ‘‘fairness’’.

Page 6: Alphabet chief executive Sundar Pichai used the company’s fourth-quarter earnings call to defend its monopolistic business model to investors as it threatens to block its search engine in Australia.

Page 8: Australians are feeling more satisfied about their financial situation a year into the coronavirus pandemic than they were before it started, despite the first recession in 30 years creating a less secure jobs market.

Page 10: The new British variant of COVID-19 has evolved a mutation similar to that of the South African and Brazilian strains, which strips 90 per cent from the Pfizer/BioNTech vaccine’s efficacy, scientists have warned.

Page 13: Asia and North America are the likely regions for Amcor’s next round of acquisitions, says the chief executive of the packaging giant cashed up and riding high from robust demand in segments such as food, beverages and pet food.

Banks fear that buy now, pay later operators such as Afterpay, which operate outside traditional banking rules, have increased the risk they will be ensnared in more anti-money laundering dramas.

Page 15: Telstra has restarted job cuts after a year-long hiatus induced by the coronavirus pandemic, telling 1425 staff that their time with the telecommunications giant will soon come to an end.

Page 19: Australia will need about 10 times more gas for power generation than is being assumed by the energy market operator, according to consultancy Wood Mackenzie, which is warning of the risks of switching too rapidly to rely on batteries to back up weather-dependent renewables.

 

 

The Australian

Page 1: Treasury is considering a revenue-contingent business loan scheme as part of the Morrison government’s targeted, post-JobKeeper support package for industries that continue to suffer from restrictions associated with the global coronavirus pandemic.

Page 3: Tech giant Microsoft has committed to step up investment in Australia to transform its search engine, Bing, into a fit-for-purpose service for small businesses across Australia if Google shuts down its dominant search service.

Page 6: Unemployed Australians are being urged to take up relocation incentives worth up to $9000 to move for jobs, with only 197 out of 1.5 million jobseekers claiming the payment last year.

Page 7: University chancellors will be pushed to speed up the adoption of a model free speech code after only nine institutions fully embraced the shake-up as federal Education Minister Alan Tudge makes academic freedom a top priority for 2021.

Page 13: The world’s second-richest man Jeff Bezos will step back from the day-to-day running of Amazon, handing over the reins of the company he transformed from a small online bookstore to a global tech behemoth.

Tabcorp’s board under its new chairman Steven Gregg is open to striking a deal with any of its suitors, including London-listed Entain and private equity consortiums, which are seeking to take over and break up the under-pressure $9.9bn gaming major.

Page 15: China’s punishing tariffs on Australian wine launched last year as part of a wider political and trade dispute between Beijing and Canberra have had a deadening impact on exports, with Australian wine sold into China slumping by 98 per cent in the first month the tariffs were applied.

Page 16: Office vacancies have soared to their highest level in almost a quarter of a century as COVID-19 has slashed demand for space at the same time as a wave of new city towers is being completed.

 

 

The West Australian

Page 3: WA would not automatically return to a five-day lockdown if another case of coronavirus community spread occurred.

Page 4: For the second day in a row health officials revised their explanation of the circumstances around how a security guard contracted COVID-19 at a Perth quarantine hotel — with the new “working hypothesis” the man caught the deadly bug simply by sitting near the door of an infected guest.

Page 7: The Lord Mayor’s Distress Relief Fund has been activated to help victims of one of WA’s worst bushfire disasters — with more than $2.5 million already raised.

Page 8: The raging bushfire that has devastated Perth’s northeastern fringes is believed to have started near Werribee Road in Wooroloo on Monday afternoon but is not being treated as suspicious.

Page 9: The State Government has appointed Ron Edwards as the State Recovery Controller for the aftermath of the devastating Wooroloo bushfire.

Business: Spending data from WA’s first days of COVID lockdown shows a dramatic surge of consumer activity as panic buyers hit supermarkets, pharmacies and bottle shops in droves.

A top Australian share manager is warning advisers that equities markets are becoming expensive and increasing numbers of people are panic buying.

A union has slammed Chevron contractor UGL for calling on workers on the Gorgon LNG project on Barrow Island to volunteer for rosters of up to 46 days and longer.

Swan Valley winemakers and table-grape growers are facing a vintage like no other as they race to pick the fruit as fires rage, and uncertainty remains over COVID-19.

The State’s rush for new cars has spilled over into 2021, with West Australians buying vehicles at more than double the rate of the rest of the country.

The abundance and quality of WA’s iron ore endowment will sustain profitable production for decades to come, according to a report commissioned by the Minerals Council of Australia.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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