12/02/2021 - 07:03

Morning Headlines

12/02/2021 - 07:03

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Morning Headlines

Traditional owners move into mining

Fed up with mining companies that do not adequately care for their country and cultural heritage, the traditional owners of Australia’s busiest iron ore mining district are taking matters, and drill rigs, into their own hands. The Fin

Fear unis are next in China trade war

The Chinese Ministry of Education has accused Australian universities of delivering low-quality teaching in courses they deliver jointly with universities in China, triggering fears that the trade war with Australia could spread to education. The Aus

Rinehart to offload Kimberley cattle station

Gina Rinehart’s Nerrima cattle station in the West Kimberley will hit the market this year as the mining magnate cuts back her vast pastoral empire. The West

Rising Melbourne cluster could force McGowan's hand as tourism hits breaking point

A growing cluster of COVID-19 infections in Melbourne has Mark McGowan poised to raise the drawbridge to Victoria, with the Premier yesterday announcing a week-long extension of existing border restrictions and flagging the “prospect” of a new travel ban. The West

AMP fights on all fronts

AMP is bracing for another crunch in profits this year as it races to stop investors pulling further billions out of its funds management businesses and reveals it was dumped at the altar by its only suitor, US-based Ares Management. The Fin

ATO: Just $50m of JobKeeper handed back

Furniture giant Nick Scali, Domino’s Pizza and Super Retail Group are among a tiny number of firms voluntarily handing back JobKeeper payments, with only $50 million in repayments expected so far. The Fin

Review backs move to make techs giants pay

A Senate committee will rubber stamp the government’s proposed news media bargaining code legislation in a report to be released today, returning the issue to Treasurer Josh Frydenberg to consider making amendments to placate Facebook and Google which have threatened to pull out of Australia. The Fin

One in three baulks at jab: survey

A third of the community don’t want to use, or are unsure about, the COVID-19 vaccines, a survey has found, challenging hopes of having enough of the community immunised to create herd immunity. The Fin

Barton to join rush out door at Crown

Crown chief executive Ken Barton is expected to formally step down on Friday after two state gaming regulators and the James Packer-backed casino giant’s biggest institutional shareholder called for the embattled casino boss to resign. The Aus

Jobs there if you want

Finance Minister Simon Birmingham says the country’s economic future is bright but more single Australians need to seize the available job opportunities. The West

 

 

The Australian Financial Review

Page 1: AMP is bracing for another crunch in profits this year as it races to stop investors pulling further billions out of its funds management businesses and reveals it was dumped at the altar by its only suitor, US-based Ares Management.

Page 3: Union and business leaders warned that ‘‘calamitous’’ and ‘‘knee jerk’’ border closures have put lives at risk after three trucks were involved in a fatal crash on the South Australian border in the early hours of yesterday.

Page 4: Furniture giant Nick Scali, Domino’s Pizza and Super Retail Group are among a tiny number of firms voluntarily handing back JobKeeper payments, with only $50 million in repayments expected so far.

Page 5: Australian infrastructure giants including Macquarie Group, IFM Investors and Lendlease are well placed to reap the benefits of a long-awaited surge in major project funding flowing from the election of US President Joe Biden.

Page 8: Fed up with mining companies that do not adequately care for their country and cultural heritage, the traditional owners of Australia’s busiest iron ore mining district are taking matters, and drill rigs, into their own hands.

Labor Premier Mark McGowan, industry groups and a conservative think tank have united in attacking the West Australian Liberal Party over a radical energy policy that mirrors iron ore billionaire Andrew Forrest’s vision for green hydrogen and green steel production in the state.

Page 9: A Senate committee will rubber stamp the government’s proposed news media bargaining code legislation in a report to be released today, returning the issue to Treasurer Josh Frydenberg to consider making amendments to placate Facebook and Google which have threatened to pull out of Australia.

Page 10: The federal government has quietly extended its refugee contract for Nauru, handing Queensland firm Canstruct $221 million for the six months to June 30 – or $10,000 a day for each detainee on the island.

Page 11: Australia is continuing to tread carefully around launching sanctions against Myanmar’s military junta, even as the new US administration vows to target the generals as it attempts to coordinate an international push for a return to democracy.

Page 12: A third of the community don’t want to use, or are unsure about, the COVID-19 vaccines, a survey has found, challenging hopes of having enough of the community immunised to create herd immunity.

Industry superannuation funds Hostplus and Maritime Super will pool their member’s funds to create a $61 billion combined asset base, with Hostplus taking full control of investment decisions.

Page 16: AGL Energy has stoked speculation it is mulling a demerger or break-up as it grapples with an expected permanent softening in power prices, as renewable energy floods the market and customer demand for low-carbon energy accelerates.

Page 19: Australia’s top gold bosses say the yellow metal ‘‘can’t be substituted by the internet’’ and the forces driving demand for cryptocurrencies are also good for gold.

Page 21: Newcrest Mining chief executive Sandeep Biswas hopes this week’s crucial gas deal between ExxonMobil, Oil Search and Papua New Guinea is a sign that political momentum in the nation will soon swing behind the company’s long-stalled $US2.8 billion ($3.6 billion) Wafi-Golpu project.

 

 

The Australian

Page 1: Federal judges would be overseen by a new agency that could investigate allegations of corruption and other misconduct — including sexual harassment and bullying — under plans being drawn up by the Morrison government.

An extra $44.5bn could be dumped on Australia’s $1 trillion debt pile if record low interest rates rise earlier than predicted, with Finance Minister Simon Birmingham warning of major structural adjustments across the national economy as we rebuild from the COVID-19 recession.

Page 3: The Chinese Ministry of Education has accused Australian universities of delivering low-quality teaching in courses they deliver jointly with universities in China, triggering fears that the trade war with Australia could spread to education.

Page 15: Crown chief executive Ken Barton is expected to formally step down on Friday after two state gaming regulators and the James Packer-backed casino giant’s biggest institutional shareholder called for the embattled casino boss to resign.

Page 17: Telstra has weathered the worst effects of the dual issues of the COVID-19 pandemic and fiscal headwinds created by the NBN, according to its chief executive Andy Penn, who declared on Thursday that his telco had passed a significant turning point and was ready to reap the benefits of its T22 cost-cutting program.

Telstra has promised that more than three quarters of its mobile customers will have access to the super-fast 5G mobile network by the end of June, as the telco giant hits one million 5G mobile phones on its network.

Page 18: Downer saw profits slump 14.4 per cent for the half year as the pandemic cut into its hospitality and facilities business, with the company reinstating dividend payments, albeit reduced to a 9ca-share interim payout on the back of a tough year.

 

 

The West Australian

Page 4: Australians are moving closer to receiving a COVID vaccine as local production of the Oxford/ AstraZeneca jab ramps up.

A growing cluster of COVID-19 infections in Melbourne has Mark McGowan poised to raise the drawbridge to Victoria, with the Premier yesterday announcing a week-long extension of existing border restrictions and flagging the “prospect” of a new travel ban.

Page 11: Social media giants should be held to the same standards and defamation laws as traditional media, says Attorney-General Christian Porter.

Page 17: Finance Minister Simon Birmingham says the country’s economic future is bright but more single Australians need to seize the available job opportunities.

Business: Gina Rinehart’s Nerrima cattle station in the West Kimberley will hit the market this year as the mining magnate cuts back her vast pastoral empire.

Australian Venue Co WA manager Joe Bailey said life had returned to the eateries and drinking spots he oversees but he remained concerned about the impact another shutdown would have.

With agricultural prices soaring, metal prices hitting the highest in years and oil well above $US50 a barrel, JPMorgan Chase & Co. is calling it — commodities appear to have begun a new super-cycle of gains lasting years.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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