02/03/2021 - 06:46

Morning Headlines

02/03/2021 - 06:46

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Morning Headlines

PM mulls aged care tax

Scott Morrison is open to a tax increase to find the tens of billions of dollars extra that will be needed to fix a troubled and underperforming aged care sector, but is unlikely to move unless he has Labor’s support. The Fin

Casino director finally folds two weeks after bombshell inquiry

John Poynton has finally caved in to mounting pressure from the NSW casino watchdog and resigned from the board of Crown Resorts. The West

McGowan: It’s plane crazy to open WA

Mark McGowan has ruled out agreeing to a national framework for interstate borders, claiming it was “way too early” and setting up a heated showdown at National Cabinet on Friday. The West

Cost-cutting hits sub builders’ skills training

French government-owned shipbuilder Naval Group is trimming training for workers, including the specialist skills needed by welders, as part of budget cuts to lock in its next contract with the Defence Department. The Fin

Miners see the light on CFMEU

The CFMEU’s mining and energy division has resolved to split from the militant union, declaring it has been overtaken by “macho posturing and chest beating” and never been less respected or more isolated within the union movement and the community. The Aus

‘Astonishing’ borrowing binge hits $28bn

Australians are taking on housing debt at an “astonishing” rate, committing to $28.8bn in loans in January — 11 per cent more than in December and 44 per cent more than a year ago. The Aus

Subsidy ‘distorts the job market’

The continuation of JobKeeper beyond its current end date would risk distorting the job market, discouraging workers meeting increasing job shortages in agriculture, food processing, healthcare, tourism and hospitality, COVID Commission chair Power has warned. The Aus

Call to reopen country on jab rollout

Australia could lose another $170 billion without a plan to ease COVID-19 restrictions permanently and restart international travel, the Business Council of Australia has warned. The West

Tech revolution powers mines

Giant batteries made of bricks, electric jumbos and underground mines that don’t need ventilation are just some of the technological revolutions on offer as a group of major Australian mining companies put their heads together to plot a major revolution in the way mining is done and help wean Australian mines off diesel and other fossil fuels forever. The Aus

Twiggy beefs up farm stake

Billionaire Andrew Forrest has expanded his footprint in WA agriculture, snapping up a further 5000ha across two prime grazing farms near Badgingarra for a rumoured $15 million to $18m. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison is open to a tax increase to find the tens of billions of dollars extra that will be needed to fix a troubled and underperforming aged care sector, but is unlikely to move unless he has Labor’s support.

When Australian Securities Exchange chief executive Dominic Stevens and its departing chairman, Rick Holliday-Smith, were grilled by Reserve Bank of Australia governor Philip Lowe and senior regulators at the central bank’s boardroom in early December, the ASX’s technology failures were a prickly talking point.

Page 3: French government-owned shipbuilder Naval Group is trimming training for workers, including the specialist skills needed by welders, as part of budget cuts to lock in its next contract with the Defence Department.

Page 4: The Reserve Bank of Australia has doubled the size of its daily bond purchases to $4 billion from $2 billion, but economists are waiting on today’s bank board meeting to see if its overall program size will be increased.

Page 8: The royal commission into aged care has made 148 wide-ranging recommendations, with professionalising the workforce through more education, better training and higher wages being a key for corporate facility operators.

Page 12: Despite bumper December-half results, shares in Coles and Woolworths have fallen amid growing fears Coles will launch a price war to regain lost market share, squeezing margins across the supermarket sector.

Page 14: Troubled manufacturer Freedom Foods Group is sticking to its mid-March deadline to update the market about its long-awaited recapitalisation plan after warning it will face falling volumes and sales in its key dairy business in the second half of financial 2021.

Page 29: Australian human resources technology company Employment Hero has been valued at more than $250 million in a new $45 million funding round, as it seeks to accelerate international expansion, despite the COVID-19 pandemic, through remote working.

 

 

The Australian

Page 1: The CFMEU’s mining and energy division has resolved to split from the militant union, declaring it has been overtaken by “macho posturing and chest beating” and never been less respected or more isolated within the union movement and the community.

Page 5: Australians are taking on housing debt at an “astonishing” rate, committing to $28.8bn in loans in January — 11 per cent more than in December and 44 per cent more than a year ago.

Page 7: More than 1100 Qantas cabin crew representing thousands of years of experience have handed in their uniforms as the airline downsizes in the lingering COVID crisis.

Page 13: The continuation of JobKeeper beyond its current end date would risk distorting the job market, discouraging workers meeting increasing job shortages in agriculture, food processing, healthcare, tourism and hospitality, COVID Commission chair Nev Power has warned.

Giant batteries made of bricks, electric jumbos and underground mines that don’t need ventilation are just some of the technological revolutions on offer as a group of major Australian mining companies put their heads together to plot a major revolution in the way mining is done and help wean Australian mines off diesel and other fossil fuels forever.

 

 

The West Australian

Page 3: John Poynton has finally caved in to mounting pressure from the NSW casino watchdog and resigned from the board of Crown Resorts.

Page 8: Mark McGowan has ruled out agreeing to a national framework for interstate borders, claiming it was “way too early” and setting up a heated showdown at National Cabinet on Friday.

Page 9: Technology and manufacturing companies could base their headquarters in WA thanks to a $100 million fund set to be established under a re-elected Labor government.

Only half of the planned 60,000 doses of the Pfizer vaccine have been administered in the first week of Australia’s vaccine program.

Page 12: Looking for a property bargain? Try regional WA — one of only two places in Australia where it is cheaper to buy now than it was a year ago.

Business: The chairman of Australia’s biggest goldminer has slammed some State premiers, saying their level of co-operation on border restrictions during the COVID pandemic has been “frankly pretty pathetic”.

Australia could lose another $170 billion without a plan to ease COVID-19 restrictions permanently and restart international travel, the Business Council of Australia has warned.

National exploration data is providing further early evidence of a commodities super cycle with expenditure growing in every quarter of 2020 despite the cloud of the coronavirus pandemic.

Billionaire Andrew Forrest has expanded his footprint in WA agriculture, snapping up a further 5000ha across two prime grazing farms near Badgingarra for a rumoured $15 million to $18m.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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