03/03/2021 - 06:34

Morning Headlines

03/03/2021 - 06:34

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Means testing favoured for aged care funding

The Morrison government is more inclined to toughen means testing than raise taxes to help fund aged care, as Liberal MPs warn it would be unfair to saddle younger generations with the health costs of their forebears. The Fin

Eastern blockheads demand $7.3m for quarantine stays

The NSW Government has sent WA a bill for more than $7 million for the cost of quarantining returned West Australians during the height of the pandemic. The West

Property Council in $15k ‘last homeowner’ push

The Property Council has called for a “last homeowners grant” of $15,000 to help older people downsize into an apartment or retirement village. The West

CFMEU hits back as mining union warns of long divorce

The mining union is bracing for a drawn-out battle to split from the CFMEU, warning members that an exit is unlikely until towards the end of the year at the same time as it seeks to fend off a potential poaching war with its construction rival. The Fin

Border battle ‘down to meth’

Fresh tensions have erupted over border closures after WA Premier Mark McGowan flagged keeping controls in place post-pandemic to stop the flow of illegal drugs into his state. The Fin

Rio hit with $406m bill in latest tax dispute

Rio Tinto has been hit with a $406.5 million bill as part of its latest dispute with the Australian Taxation Office. The Fin

Million on dole, workers ‘hard to find’

Employers are reporting “significant” staff shortages and recruitment difficulties across the nation, despite more than 1.2 million Australians still relying on JobSeeker payments. The Aus

Airlines, tourism back BCA reopening strategy

The Business Council of Australia has released a detailed “COVID exit strategy” designed to plug the $250m-a-day leak in the national economy as a result of the international border closure. The Aus

Liontown Moora hits raise gold bar

The charmed run of WA mining entrepreneur Tim Goyder has continued after his Liontown Resources reported strong drilling results at its gold project, sending its shares to an all-time high. The West

Poll pledge for resources makeover

The State Government has ramped up its charm offensive with the sector that powered it through the coronavirus pandemic by committing cash to a major shake-up of bureaucratic processes to “supercharge” the mining industry. The West

 

 

The Australian Financial Review

Page 1: Billionaire Australian Lex Greensill is fighting to save his empire from collapse after one of his biggest customers, Credit Suisse, blocked a big chunk of his cash flows by halting purchases of Greensill Capital’s packaged invoices.

The cabinet minister accused of committing a rape 33 years ago plans to out himself as early as today to try to clear his name and end the controversy which is paralysing the Morrison government.

Page 2: The mining union is bracing for a drawn-out battle to split from the CFMEU, warning members that an exit is unlikely until towards the end of the year at the same time as it seeks to fend off a potential poaching war with its construction rival.

Page 3: The corporate watchdog has accused REST Super of misleading and deceptive conduct, alleging the $60 billion industry superannuation fund tried to stop members transferring their savings to a better performing fund.

Page 4: The Morrison government is more inclined to toughen means testing than raise taxes to help fund aged care, as Liberal MPs warn it would be unfair to saddle younger generations with the health costs of their forebears.

Page 5: Fresh tensions have erupted over border closures after WA Premier Mark McGowan flagged keeping controls in place post-pandemic to stop the flow of illegal drugs into his state.

Page 9: Businesses should be ready to roll out their own vaccination programs in the same way as the flu jabs to fast-track a ‘‘tipping point’’ for a post-pandemic, business-led recovery, says Nev Power, chairman of the government’s COVID-19 advisory commission.

Page 12: Magellan chairman and billionaire Hamish Douglass has warned that if central banks are forced to lift interest rates following an outbreak of inflation, then equity markets face a huge reckoning.

Yarra Capital Management will acquire all of Nikko Asset Management in Australia to become a $20 billion investment manager, and Nikko will in turn take a 20 per cent stake in the Australian manager in a deal struck yesterday.

Page 15: Rio Tinto has been hit with a $406.5 million bill as part of its latest dispute with the Australian Taxation Office.

One of Afterpay’s and Zip’s biggest competitors in the United States, Klarna, has raised a further $US1 billion ($1.29 billion) as the land grab to sign up American merchants for buy now, pay later accelerates.

 

 

The Australian

Page 1: The chairman of Nine Entertainment, Peter Costello, has assumed a greater role in the day-to-day running of the embattled media giant amid a deepening split among directors aligned with the company’s rival broadcasting and print divisions.

Page 2: CFMEU leader Christy Cain has urged the ACTU to publicly oppose miners splitting from the union, saying mining division chief Tony Maher should “hang his head in shame” for holding secret talks with Christian Porter about the Coalition’s union demerger laws.

Page 3: Federal authorities have launched an unprecedented national appeal to the community for help in rescuing several unknown Australian children from being sexually abused online in a world-leading “shock and awe” operation to combat what investigators have warned is violence and abuse on an “industrial scale”.

A proposed $2bn arena to be built over the Roma Street railway station in inner Brisbane could be constructed in time for the 2032 Olympic Games and would be the infrastructure legacy of the event.

Page 5: Employers are reporting “significant” staff shortages and recruitment difficulties across the nation, despite more than 1.2 million Australians still relying on JobSeeker payments.

Page 7: A company representing Kakadu traditional owners paid out hundreds of thousands of dollars in sitting fees on top of the five- and six-figure salaries earned by some of its officeholders, documents reveal.

Page 13: The Reserve Bank has vowed to do whatever it takes to keep official cash rates low, even as investors dump bonds amid fears of inflation unsettling the global economy.

Page 14: A move by CIMIC subsidiary Thiess to pull a $1.3bn bond from the market in the past week may have been related to loans the group has had to troubled financier Greensill, say sources.

Page 17: The Business Council of Australia has released a detailed “COVID exit strategy” designed to plug the $250m-a-day leak in the national economy as a result of the international border closure.

Page 21: Universities have welcomed a Royal Commission into Aged Care Quality and Safety recommendation to give on-the-job experience to students taking courses in caring for older people.

 

 

The West Australian

Page 4: Premier Mark McGowan was forced into a sheepish backdown yesterday after suggesting he wanted to permanently require interstate travellers to disclose their personal details before arriving in WA.

The NSW Government has sent WA a bill for more than $7 million for the cost of quarantining returned West Australians during the height of the pandemic.

Page 5: WA mental health workers say they are so disappointed with the election commitments for children’s mental health they plan to stop work for an hour today in protest.

Page 8: The Property Council has called for a “last homeowners grant” of $15,000 to help older people downsize into an apartment or retirement village.

Business: Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the industry’s most active investment bank.

The State Government has ramped up its charm offensive with the sector that powered it through the coronavirus pandemic by committing cash to a major shake-up of bureaucratic processes to “supercharge” the mining industry.

Emirates is bracing for a winter surge, with the airline’s president Sir Tim Clark predicting a return of global international passenger travel.

The charmed run of WA mining entrepreneur Tim Goyder has continued after his Liontown Resources reported strong drilling results at its gold project, sending its shares to an all-time high.

Australia is on track to achieve a record agricultural production value of $65.9 billion this financial year, driven by strong commodity prices and improved seasonal conditions.

WA’s rising female tech stars want to see investment in professional development and innovation to avoid squandering unique opportunities presented by COVID-19.

Australian Potash is the latest aspiring potash player to secure a big lick of cash from the Federal Government.

Sandfire Resources has scored an own goal in the opening minutes of a Supreme Court showdown over a royalties agreement for its Monty gold and copper mine.

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