18/03/2021 - 07:00

Morning Headlines

18/03/2021 - 07:00

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ASX staff drown in a flood of WA floats

A large number of WA sharemarket floats is testing the Australian Securities Exchange, delaying some listings and sparking calls for the ASX to increase its local staffing and salaries. The West

Red 5 locks in mine funds

WA’s biggest goldmine in development is fully funded after Red 5 locked in $235 million in debt and equity for its King of the Hills project near Leonora. The West

Treasurer dares Labor on tax cuts

The stage-three income tax cuts loom as a flashpoint at the next federal election with Labor considering options ranging from dumping the cuts altogether, paring them back, or possibly keeping them. The Fin

JobKeeper lifts profits of ASX300 companies

The government’s generous $93 billion JobKeeper program helped boost the underlying profits of about 10 per cent of the sharemarket’s top 300 listed companies as they reported larger profits than before the pandemic. The Fin

US giants say time is right to cut regulation

Corporate giants from the United States say a 30 per cent reduction in Australian business regulations, a national review of regulators and further tax reform are all needed to attract significant investment and help fill a growing gap left by a retreating China. The Fin

We can boost industry through science: Foley

Australia’s new chief scientist, Cathy Foley, has urged the government to put science at the heart of policy that seeks to make local industries more competitive, which she says may help stop Australia’s globally recognised research from being developed into profitable products by foreign companies. The Fin

Siemens backs Forrest on green power

Engineering giant Siemens says Andrew Forrest’s vision of a green hydrogen power station is within reach and is backing his call that that such a facility will run more efficiently at a large scale. The Fin

Uber wage ruling puts gig workers in box seat

Workers in Australia’s gig economy could be one step closer to getting a minimum wage and paid holidays, after Uber announced it was changing the status of its 70,000 drivers in Britain following a court ruling there that they should be classified as workers and not independent contractors. The Fin

National alert as end looms for JobKeeper

Up to 400,000 jobs across the nation could be lost when JobKeeper ends in a little over a week, according to new data from Small Business Australia. The West

 

 

The Australian Financial Review

Page 1: The stage-three income tax cuts loom as a flashpoint at the next federal election with Labor considering options ranging from dumping the cuts altogether, paring them back, or possibly keeping them.

Greensill Capital’s biggest source of income was buying and selling invoices from risky companies that required insurance, underscoring its precarious business model, court documents have revealed.

Page 3: Corporate giants from the United States say a 30 per cent reduction in Australian business regulations, a national review of regulators and further tax reform are all needed to attract significant investment and help fill a growing gap left by a retreating China.

AFL president Richard Goyder says the return of crowds in Melbourne and games around the country is the ‘‘confidence kicker’’ the nation needs to help rebuild the public’s fragile confidence.

Page 4: The Morrison government’s industrial relations reforms look likely to rest on one key crossbencher after One Nation demanded only modest amendments in return for its support.

Page 8: Doctors inundated with inquiries about Australia’s COVID-19 vaccine rollout have urged the government to urgently clarify booking procedures, warning against unrealistic public expectations about when jabs will be available.

Page 13: Australia’s new chief scientist, Cathy Foley, has urged the government to put science at the heart of policy that seeks to make local industries more competitive, which she says may help stop Australia’s globally recognised research from being developed into profitable products by foreign companies.

Page 14: The federal government is set to let more wealthy foreign investors take up temporary Australian residency on the condition they invest an extra $1 million.

Page 18: Commonwealth Bank will undercut Afterpay and conduct credit checks to reduce the risk of customers overcommitting themselves in the biggest competitive response of a major bank to the wildly successful buy now, pay later phenomenon.

Engineering giant Siemens says Andrew Forrest’s vision of a green hydrogen power station is within reach and is backing his call that that such a facility will run more efficiently at a large scale.

Page 20: Gas pipeline owner Jemena is pushing ahead with a $130 million spend to connect Andrew Forrest’s planned LNG import terminal at Port Kembla to its east coast gas grid, confident gas imports will start up by January 2023 despite a lack of signed-up customers.

Page 21: The government’s generous $93 billion JobKeeper program helped boost the underlying profits of about 10 per cent of the sharemarket’s top 300 listed companies as they reported larger profits than before the pandemic.

Page 23: Dairy farmers will pocket more for their milk after Fonterra Australia moved to respond to a surge in global commodity prices and strong local demand for butter and cheese for home baking and pizza making.

 

 

The Australian

Page 1: ASIO has cracked a major foreign espionage network operating in Australia that successfully recruited a government official with security access to classified defence technology, in what the security agency has described as a “nest of spies”.

Page 4: The Morrison government is considering new measures to protect candidates from violence, harassment and bullying during federal elections to try to prevent a repeat of “one of the ugliest campaigns” that was waged against outgoing Liberal MP Nicolle Flint.

Page 6: The WA Liberal Party’s two purported powerbrokers have both agreed to an overhaul of the party’s preselection process in the wake of the historic election drubbing at the weekend.

Page 7: Workers in Australia’s gig economy could be one step closer to getting a minimum wage and paid holidays, after Uber announced it was changing the status of its 70,000 drivers in Britain following a court ruling there that they should be classified as workers and not independent contractors.

Page 13: Thousands of jobs could be axed after a bid by mining giant South32 to discuss reworking a rejected extension of its Illawarra metallurgical coal mine was rebuffed by NSW Premier Gladys Berejiklian.

 

 

The West Australian

Page 3: Living models of human embryos have been grown from skin cells by a team of scientists, including from the University of WA, in a breakthrough set to revolutionise medical science.

Page 10: Another seat once considered unwinnable for Labor — the South West electorate of Warren-Blackwood — has turned red as Mark McGowan yesterday received a standing ovation from the 75 members of the caucus and confirmed the new faces in his second-term Cabinet.

Page 11: Barry Court — the brother of former premier Richard Court and son of Liberal legend Sir Charles Court — says Christians should remind WA’s newly elected Labor MPs “how powerful the Church is in running this country”.

Page 18: The Federal Government is being urged to give a bonus two weeks paternity leave to couples who take equal time off work when they have a baby.

Business: A large number of WA sharemarket floats is testing the Australian Securities Exchange, delaying some listings and sparking calls for the ASX to increase its local staffing and salaries.

West Australians are being urged to check the Australian Taxation Office website for lost retirement savings with new figures showing we have more than $1 billion sitting forgotten in superannuation.

Up to 400,000 jobs across the nation could be lost when JobKeeper ends in a little over a week, according to new data from Small Business Australia.

BHP, unencumbered by big spending programs, is expected to widen its financial advantage over its Pilbara iron ore rivals in the next five years, according to new research that also says Rio Tinto carries the most risk.

WA’s biggest goldmine in development is fully funded after Red 5 locked in $235 million in debt and equity for its King of the Hills project near Leonora.

US billionaire mining investor Robert Friedland has emerged as a small shareholder of Tulla Resources, the 50 per cent owner of the Norseman gold project which is set to list on the ASX today.

The supply of finance to small business “remains tighter than before the pandemic”, according to Reserve Bank Assistant Governor Chris Kent, who will pay “close attention” to traders’ ability to borrow.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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