18/02/2021 - 06:58

Morning Headlines

18/02/2021 - 06:58

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Morning Headlines

Ex-top judge in line to head inquiry

Recently retired WA Supreme Court judge Lindy Jenkins is the frontrunner to lead an independent inquiry into Crown Perth that will determine the future of the embattled casino operator. The West

McGowan mining deal a win for tycoon

A mining company controlled by one of Perth’s richest men will receive well over $200m in royalty refunds from West Australian taxpayers after the government failed to include a price cap in its agreement with the group. The Aus

Nine signs $150m Google news deal

Google could have news deals worth more than $100 million with the majority of Australian media largely tied up by the end of the week. The Fin

Australia needs 6.5m digital workers in four years: Amazon

Australia will need an extra 6.5 million digital workers in the next four years to keep up with technological change, according to research from Amazon that reveals the technology skills gap continues to deepen. The Fin

MPs in drive for nuclear energy

Nationals senators have drafted legislation allowing the Clean Energy Finance Corporation to invest in nuclear power as twothirds of Coalition MPs backed lifting the ban on the controversial fuel source to help shift the nation to a carbon-neutral future. The Aus

Migration plunge to test stay-at-home profit boom

Coles has warned that it will struggle to match 2020’s stimulus-driven results, as companies from across the economy paint a broadly optimistic picture of steady recovery after a sharp lockdown-induced downturn in the early stages of the pandemic. The Fin

NBN Co paid staff almost $80m in bonuses last year

The company building the national broadband network paid staff nearly $80 million in bonuses in the second half of 2020. The Fin

Lynas gains on report China may ban export of rare earths to US

The threat of a China crackdown on rare earths exports for use by US defence companies has underpinned a surge in Lynas Corp’s share price as analysts predict Australia would benefit from any weaponisation of Beijing’s dominance of key minerals used to build fighter jets. The Fin

Twiggy, Spenceley cut deal to float telco play Swoop

The Forrest family’s Tattarang and Vocus founder James Spenceley are teaming up for a new listed telecommunications play. The Fin

Inpex returns to Broome

Inpex will resume helicopter transfers out of Broome next week, nine months after moving to a remote airstrip to protect the Kimberley from COVID-19. The West

 

 

The Australian Financial Review

Page 1: Coles has warned that it will struggle to match 2020’s stimulus-driven results, as companies from across the economy paint a broadly optimistic picture of steady recovery after a sharp lockdown-induced downturn in the early stages of the pandemic.

Page 2: The company building the national broadband network paid staff nearly $80 million in bonuses in the second half of 2020.

Page 3: Australia will need an extra 6.5 million digital workers in the next four years to keep up with technological change, according to research from Amazon that reveals the technology skills gap continues to deepen.

Page 4: Former Victorian gaming minister Tony Robinson says the federal financial crime regulator should have complete oversight of money laundering at casinos because of its inability to work with the states to prevent dirty money flowing through Crown over five years.

The Business Council of Australia has jumped on a little-reported section of the government’s industrial relations reforms to call for the scrapping of hefty ‘‘contrition’’ penalties for employers who inadvertently underpay workers, potentially saving major corporations millions of dollars.

Page 5: The lure of permanent residency and cheaper tuition fees saw overseas student enrolments in postgraduate masters courses escalate dramatically in recent years, with half of all Australian universities having 60 per cent of enrolments from international students.

Page 6: A federal government crackdown on welfare payments and a return to pre-pandemic job search rules has led to more people looking for work and helped the labour market gain momentum.

Page 8: Aged care workers won’t be compelled to get a COVID-19 vaccine as part of the looming national rollout, with the Morrison government instead strongly recommending take-up among the critical workforce.

Rising levels of hesitancy and outright opposition to being vaccinated against coronavirus threaten to delay the population gaining herd immunity, with only two-thirds of Australians now certain they will get jabbed.

Page 12: New modelling shows that if interest rates rise just 2 per cent higher than Treasury’s forecast in 10 years the federal government will be spending more on interest payments per year than defence or education.

Page 14: The threat of a China crackdown on rare earths exports for use by US defence companies has underpinned a surge in Lynas Corp’s share price as analysts predict Australia would benefit from any weaponisation of Beijing’s dominance of key minerals used to build fighter jets.

Page 18: The Forrest family’s Tattarang and Vocus founder James Spenceley are teaming up for a new listed telecommunications play.

Page 22: Departing Glencore chief executive Ivan Glasenberg says China is certain to develop an African iron ore province to rival Australia’s Pilbara region and will further banish Australian coal shipments for the forseeable future.

 

 

The Australian

Page 1: Nationals senators have drafted legislation allowing the Clean Energy Finance Corporation to invest in nuclear power as two-thirds of Coalition MPs backed lifting the ban on the controversial fuel source to help shift the nation to a carbon-neutral future.

Page 2: Australia’s Catholic bishops have lamented the loss of large numbers of Catholic students to secular schools, issuing a rallying cry to the church’s educators to retain the sector’s religious identity in the wake of growing enrolments from outside the faith.

Page 4: An assessment of the Cashless Debit Card for Australian welfare recipients has found “consistent and clear evidence” of reduced alcohol consumption and a fall in gambling at three trial sites.

Australia’s tourism sector has demanded nearly $8bn in wage subsidy payments for more than 100,000 of the worst-affected businesses once JobKeeper ends in March, warning that without a replacement scheme there won’t be a tourism industry left.

Page 8: A mining company controlled by one of Perth’s richest men will receive well over $200m in royalty refunds from West Australian taxpayers after the government failed to include a price cap in its agreement with the group.

Page 10: The spread of highly contagious coronavirus variants is accelerating in Europe, outpacing an already-slow vaccine rollout and forcing governments to extend and possibly tighten restrictions to prevent a new surge in infections before the end of the region’s winter.

Page 15: Rio Tinto has bowed to investor pressure and matched moves by its major rivals to outline goals to reduce the carbon emissions of its customers, as the company declared a record $US6.5bn ($8.38bn) dividend on the back of the iron ore price boom.

Page 16: There has been talk in the market that the valuation of Seven Group has peaked, prompting discussion about whether now is the right time for the company to raise equity for acquisitions.

Page 19: Westpac chief executive Peter King says supply issues are largely driving price rises in the housing market, but the Australian economy is well placed to navigate that and dodge a fiscal cliff as COVID-19 stimulus is wound back.

Page 20: The Reject Shop is bracing for earnings losses in the second half of the financial year, as lockdowns, border closures and reduced foot traffic in CBDs and shopping centres hit retail sales.

 

 

The West Australian

Page 4: Three separate reviews will now be conducted into the workplace culture at Parliament House after the shocking revelations a staffer was allegedly raped in the office of Defence Minister Linda Reynolds in 2019.

Page 5: A police veterans card similar to those issued to former Australian Defence Force members is at the top of the WA Police Union’s wish list ahead of the State election.

Page 7: Perth’s property madness led a single home in Carine to recently attract 500 people to inspections as a panic-buying spree sets in across the State.

Page 9: Recently retired WA Supreme Court judge Lindy Jenkins is the frontrunner to lead an independent inquiry into Crown Perth that will determine the future of the embattled casino operator.

Page 18: Short-term contracts are used to “control” doctors working at Bunbury Hospital to stop them speaking out against poor management, the profession’s peak body says.

Business: Wesfarmers and its Chilean partner have given the green light to a costlier-than-expected $2 billion development of their Mt Holland lithium project, aiming to take advantage of improving lithium prices and an expected boom in demand for electric vehicle batteries.

Evolution Mining boss Jake Klein says the recent pull back in the gold price could make merger and acquisition opportunities more attractive for the company.

Domino’s Pizza shares hit a record high yesterday after the company’s results for the first half of 2021 reflected strong demand for home-delivered pizza during the coronavirus crisis.

Consumers are increasingly embracing a buy-local mentality to the benefit of WA operators, who say there has been a resurgence of people wanting to purchase in their own backyard.

WA residential property developer Cedar Woods is scouting for acquisitions and expects investors to be pulled back into the market by falling vacancy rates and rising rents.

Inpex will resume helicopter transfers out of Broome next week, nine months after moving to a remote airstrip to protect the Kimberley from COVID-19.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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