09/03/2021 - 06:51

Morning Headlines

09/03/2021 - 06:51

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Gold Road firms in bid for $1bn Tropicana mine stake

Gold Road Resources is said to be firming as the frontrunner to buy a $1bn stake in IGO’s Tropicana gold mine. The Aus

FMG cancels contracts at costly Iron Bridge project

Nearly 400 jobs are threatened by Fortescue Metals Group’s termination of construction contracts at the Iron Bridge magnetite project as it reviews the scope of the venture after a $500 million cost blowout. The West

PM plans our recovery phase

Scott Morrison will tip another $1.2 billion into wage subsidies for apprentices and flag migration as critical to filling areas of future workforce shortages in a speech focusing on growing the economy as it emerges from the recession and direct supports are wound back. The Fin

BlackRock ups ante on climate

The world’s largest fund manager BlackRock has incorporated climate change assumptions into its share trading strategy for the first time as it ratchets up action to confront global warming, in a move set to weigh on companies without a clear path to net zero emissions. The Aus

Suez ‘legal black hole’ for Cleanaway

French waste management group Veolia has warned ASX-listed waste giant Cleanaway it would be headed for a legal ‘‘black hole’’ if it pursues a $2 billion-plus buyout of Suez’s Australian assets because any sale of the local operations of Suez would be in breach of French takeover laws. The Fin

Perth bigwigs pile into linen maker Cleverly Laundry

A bunch of Perthonalities have been getting comfy with Aussie linen, towels and around-the-house clothes maker Cleverly Laundry. The Fin

$120bn savings fire rebound

A savings war chest of more than $120bn accumulated during the pandemic is driving resurgent property and retail markets and increasing confidence among economists that the end of Job-Keeper this month will not spark a significant downturn. The Aus

No religious right fix: Liberal leader

West Australian Liberal leader Zak Kirkup says he does not believe the party’s preselection processes have been manipulated, even though no fewer than five former candidates and members of the Christian Democratic Party will stand under the Liberal banner at the weekend’s election. The Aus

Pilbara group back Native Americans in US mine battle

The Aboriginal group left devastated by Rio Tinto’s destruction of two heritage sites in the Pilbara is lending its support to a Native American group fighting against a copper mine proposed by the mining giant on their lands. The West

Recce seeks EU investors

WA-founded biotech Recce Pharmaceuticals has started trading on Germany’s Frankfurt Stock Exchange, with an expectation of more institutional and retail shareholders across Europe. The West

 

 

The Australian Financial Review

Page 1: Scott Morrison will tip another $1.2 billion into wage subsidies for apprentices and flag migration as critical to filling areas of future workforce shortages in a speech focusing on growing the economy as it emerges from the recession and direct supports are wound back.

French waste management group Veolia has warned ASX-listed waste giant Cleanaway it would be headed for a legal ‘‘black hole’’ if it pursues a $2 billion-plus buyout of Suez’s Australian assets because any sale of the local operations of Suez would be in breach of French takeover laws.

Page 6: Labor’s plans to make companies with more than 250 employees publicly report their gender pay-gap data has left business and employer groups unimpressed, and leaders are instead calling for better career paths for female executives.

Page 11: Former foreign minister Julie Bishop has cut ties with Lex Greensill as she distances herself from the collapse of the Bundaberg-bred financier’s supply chain finance empire.

Page 12: A bunch of Perthonalities have been getting comfy with Aussie linen, towels and around-the-house clothes maker Cleverly Laundry.

Page 13: Qantas is taking former Jetstar Japan co-chief Nick Rohrlach to the NSW Supreme Court in an attempt to stop him from starting a new role at the head of Virgin Australia’s loyalty program in May.

Page 14: Mexican fast-food chain Guzman y Gomez expects annual network sales to reach $2.5 billion to $3 billion over time as it opens 30 to 40 stores a year in Australia and pushes further into overseas markets such as Singapore, Japan and the US.

Page 15: Rio Tinto has launched an investigation after its West Australian iron ore ports suffered a third fire in 26 months.

Page 17: Big tech companies and governments are in the midst of a ‘‘crisis in trust’’ and must work more effectively together creating regulations suitable for a booming post-COVID-19 digital economy, warns Salesforce Australia chief executive Pip Marlow.

 

 

The Australian

Page 1: A savings war chest of more than $120bn accumulated during the pandemic is driving resurgent property and retail markets and increasing confidence among economists that the end of Job-Keeper this month will not spark a significant downturn.

Page 4: Lawyers representing former Liberal staffer Brittany Higgins are insisting Defence Minister Linda Reynolds immediately withdraw her controversial “lying cow” remarks, with negotiations so far unable to reach a resolution.

Page 7: West Australian Liberal leader Zak Kirkup says he does not believe the party’s preselection processes have been manipulated, even though no fewer than five former candidates and members of the Christian Democratic Party will stand under the Liberal banner at the weekend’s election.

The promise of a new national approach to treatment of minors diagnosed with gender dysphoria appears in doubt after a review was quietly wound up without collecting patient data.

Page 13: The world’s largest fund manager BlackRock has incorporated climate change assumptions into its share trading strategy for the first time as it ratchets up action to confront global warming, in a move set to weigh on companies without a clear path to net zero emissions.

Page 14: Gold Road Resources is said to be firming as the frontrunner to buy a $1bn stake in IGO’s Tropicana gold mine.

Page 17: Telstra has weaned itself off supply chain financier Greensill, which is on the verge of collapse, declaring “there is no financial risk” to the telco after it switched off the controversial payments platform.

 

 

The West Australian

Page 8: The Department of Premier and Cabinet has held talks with a Labor backbencher about bullying allegations after a formal complaint by a female former staffer.

Page 10: Former Nationals leader Barnaby Joyce has broken ranks with his Coalition colleagues and called for an independent inquiry into rape allegations against Christian Porter.

Page 11: Mortgage customers are throwing away hundreds of dollars a month by sticking with high interest rates of more than 3 per cent.

Page 14: Australia has suspended military co-operation with Myanmar and redirected aid to non-government organisations in response to escalating violence after last month’s army coup.

Business: Nearly 400 jobs are threatened by Fortescue Metals Group’s termination of construction contracts at the Iron Bridge magnetite project as it reviews the scope of the venture after a $500 million cost blowout.

BHP has inked a three-year, $15 million agreement with one of China’s biggest steelmakers to study ways to cut greenhouse gas emissions.

Fortescue Metals Group chief executive Elizabeth Gaines says the number of women in senior leadership roles across corporate Australia has “flatlined”.

The Aboriginal group left devastated by Rio Tinto’s destruction of two heritage sites in the Pilbara is lending its support to a Native American group fighting against a copper mine proposed by the mining giant on their lands.

The WA-based founders of a new social media app are gearing up to launch a $1.5 million capital raising after interest in the platform doubled in the past two weeks.

WA-founded biotech Recce Pharmaceuticals has started trading on Germany’s Frankfurt Stock Exchange, with an expectation of more institutional and retail shareholders across Europe.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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