10/02/2021 - 06:49

Morning Headlines

10/02/2021 - 06:49

Bookmark

Save articles for future reference.

Miners’ test of time

Morning Headlines

Miners’ test of time

Minerals testing has become the latest pinch point in WA’s surging resources sector, with miners and explorers having to wait up to seven weeks for drilling results. The West

Liberal property tycoon throws his weight behind Labor in poll

Western Australia’s most prominent property developer and Liberal Party member has given a glowing assessment of Labor Premier Mark McGowan, describing him as “a great leader” and his government as “one of the best in the past 50 years.” The Aus

Emeco’s western shift

Mining equipment rental business Emeco will shift idle fleet on the east coast into a booming WA market after taking a hit from depressed coal conditions, Australia’s trade rift with China and COVID-19 challenges. The West

Spotlight to roll out 150 stores

The $2bn retail giant Spotlight Group plans to open 150 stores over the next five years as it bets on a relatively bright future for its bricks-and-mortar brands. The Aus

Deloitte expects partners will retire at 62

Big four consultancy Deloitte has an ‘‘expectation’’ that partners will retire at 62, according to documents filed in the Federal Court as part of a landmark age discrimination case that could shake up the partnership structures of large professional services firms. The Fin

Cleanout for Packer’s Crown

James Packer’s pet Barangaroo casino in Sydney may remain closed for months after a damning report found Crown Resorts was not suitable to run it after enabling money laundering through its casinos, partnering with junket operators connected to Asian triad gangs and failing to protect staff arrested in China. The Fin

Migration slowdown hits Boral

Building materials giant Boral has flagged ongoing uncertainty in the Australian housing market, which hurt it in the first half of 2021, due to the temporary halt to international migration and an exodus of people from capital cities to less dense areas. The West

Aussie tips its ‘biggest financial year’ as investor demand returns

Aussie Home Loans chief executive James Symond expects a resurgence in investor demand in the mortgage market this year, as record low rates and first-home buyers help propel the group to an expected record year for total home loan settlements. The Aus

Airport sick of FIFO drunks

Port Hedland International Airport staff are “sick to death” of dealing with drunk and abusive passengers threatening workers and “terrifying” fellow travellers. The West

Pledge to slash tax

Stamp duty for seniors would be cut by up to $15,000 by a WA Liberal Government in a policy designed to remove barriers to downsizing — and Opposition Leader Zak Kirkup has not ruled out further reform of the property tax. The West

 

 

The Australian Financial Review

Page 1: James Packer’s pet Barangaroo casino in Sydney may remain closed for months after a damning report found Crown Resorts was not suitable to run it after enabling money laundering through its casinos, partnering with junket operators connected to Asian triad gangs and failing to protect staff arrested in China.

Australia’s embattled oil refining sector is set to suffer another heavy blow, with ExxonMobil expected to announce the closure of its 72-year-old Altona refinery in Victoria today.

Big four consultancy Deloitte has an ‘‘expectation’’ that partners will retire at 62, according to documents filed in the Federal Court as part of a landmark age discrimination case that could shake up the partnership structures of large professional services firms.

Page 8: Farmers say the National Party’s ‘‘simplistic’’ push to exclude them from a federal government commitment to cut carbon emissions to net zero by 2050 is unnecessary and could do more harm than good.

Page 12: Billionaire Elon Musk’s electric vehicle company, Tesla, said it had bought $US1.5 billion ($1.9 billion) of the cryptocurrency [Bitcoin] and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher.

Page 14: Deloitte Asia Pacific chief executive Cindy Hook has declared that Deloitte Australia is finally ‘‘within spitting distance’’ of rival PwC Australia and issued a rallying call for local partners to claim the position as the largest consulting firm in the country.

Big four consulting firm KPMG is providing business advisory services to Services Australia as part of an 18-month contract worth $6.2 million.

Page 15: Macquarie Infrastructure and Real Assets Holdings (MIRA) will look to spin off Vocus Group’s retail segment, which includes high-profile consumer brands such as Dodo and iPrimus, if its $3.4 billion takeover proposal for the telecom company is successful, Vocus founder James Spenceley predicts.

Page 18: Qatar is set to snatch back the ranking as the world’s most powerful LNG exporter after pressing the button on the biggest expansion project so far, which will have an ultra-competitive cost of production.

Page 19: The first digital bank guarantee using blockchain technology was created by ANZ Bank and Scentre Group yesterday, in a move that will trigger a massive reduction in the use of paper and couriers across the country.

 

 

The Australian

Page 4: National Australia Bank chief executive Ross McEwan has defended the lender’s support for the Port of Newcastle, saying financial institutions must not “walk away” from companies in the march to net-zero emissions.

The commonwealth will invest $2.5m to boost the rollout of an online program at hundreds of regional and rural schools across the nation to help combat a rising number of primary school students suffering from mental illness.

Page 8: Western Australia’s most prominent property developer and Liberal Party member has given a glowing assessment of Labor Premier Mark McGowan, describing him as “a great leader” and his government as “one of the best in the past 50 years.”

Page 15: The $2bn retail giant Spotlight Group plans to open 150 stores over the next five years as it bets on a relatively bright future for its bricks-and-mortar brands.

Two executives working for CIMIC’s Qatari joint venture were arrested and placed in jail as authorities sought answers over spiralling debts and scores of legal cases lodged by suppliers and contractors in the Gulf state.

Page 19: Aussie Home Loans chief executive James Symond expects a resurgence in investor demand in the mortgage market this year, as record low rates and first-home buyers help propel the group to an expected record year for total home loan settlements.

 

 

The West Australian

Page 4: Some would-be parents are splashing out thousands of dollars on prams, cots and onesies before their baby is born.

Page 7: The World Health Organisation has found it “impossible” to trace the origins of the COVID-19 pandemic despite an investigation in Wuhan.

Page 8: The State Government has egg on its face over false claims it will turn the YHA hostel in the city into a crisis shelter for 100 homeless people.

Page 11: Port Hedland International Airport staff are “sick to death” of dealing with drunk and abusive passengers threatening workers and “terrifying” fellow travellers.

Page 14: Stamp duty for seniors would be cut by up to $15,000 by a WA Liberal Government in a policy designed to remove barriers to downsizing — and Opposition Leader Zak Kirkup has not ruled out further reform of the property tax.

Treasurer Ben Wyatt has defended WA’s record-breaking $3.1 billion surplus, insisting the Government was not hoarding a “mountain of cash” and all of the funds had been assigned to infrastructure projects.

Page 18: Anthony Albanese is ramping up his fight to become prime minister, declaring he will protect Australian jobs and create an environment for more secure work.

Business: Minerals testing has become the latest pinch point in WA’s surging resources sector, with miners and explorers having to wait up to seven weeks for drilling results.

Perth’s five-day lockdown has taken a toll on consumer confidence, with a new report revealing spending took a near 40 per cent dive.

Ballooning payment times in Australia’s construction sector has credit experts on edge, with some warning it could cause a domino effect across the economy.

Building materials giant Boral has flagged ongoing uncertainty in the Australian housing market, which hurt it in the first half of 2021, due to the temporary halt to international migration and an exodus of people from capital cities to less dense areas.

Apple should follow in Tesla’s footsteps, but by getting into cryptocurrencies, not electric vehicles, according to RBC Capital Markets.

Mining equipment rental business Emeco will shift idle fleet on the east coast into a booming WA market after taking a hit from depressed coal conditions, Australia’s trade rift with China and COVID-19 challenges.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options