25/03/2021 - 07:02

Morning Headlines

25/03/2021 - 07:02

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Immunised Bali hopes to lure tourists back

Indonesia believes the promise of a population with herd immunity to the coronavirus and a zero tolerance to health protocol violations will be enough to tempt international tourists back to Bali by mid-year. The Fin

PM to remove Porter, Reynolds

Christian Porter is set to be removed as Attorney-General, and Linda Reynolds shifted from Defence, forcing Prime Minister Scott Morrison into a second frontbench reshuffle in three months. The Fin

Mint battles conspiracists

The Perth Mint argues it is on “a hiding to nowhere” after being caught up in a GameStop-like crowd surge that has conspiracy theorists claiming the country’s biggest precious metals refiner has run out of silver. The West

Forrest unveils ambitious renewables target

Fortescue Metals chairman Andrew Forrest has announced plans to increase his company’s exposure to renewable energy to produce or “help produce” more than 1000 gigawatts of zero emission energy. The Aus

Cyber war puts business at risk

Assistant Defence Minister Andrew Hastie has warned “many Australian businesses” are at high risk of having their operations disrupted and data stolen amid a wave of malicious state-sponsored and criminal cyber attacks targeting hospitals, parliaments and companies. The Fin

Wages stuck until jobless rate hits 4.5pc: Treasury

The level of unemployment that needs to be achieved before wage growth kicks in and the government needs to begin budget repair is lower than previously thought, Treasury secretary Steven Kennedy says. The Fin

Arts sector in line for $135m boost

Australia’s COVID-19-hit arts and entertainment sector will receive a new $135 million funding injection, part of the Morrison government’s efforts to boost 230 projects and support 90,000 jobs. The Fin

Westpac may quit NZ over funds clamp

Westpac’s divestment spree is far from over as it weighs a New Zealand spin-off or sale, ahead of changes to capital requirements in that market and after being hit with compliance notices for liquidity reporting failures across the Tasman. The Aus

More beds to help fix ED crisis

Almost 120 extra hospital beds are being rushed into service in response to the health crisis engulfing emergency departments across Perth. The West

Twiggy all a-gassed at Musk’s hydro burn

WA mining billionaire and green energy visionary Andrew Forrest has taken a swipe at Tesla founder Elon Musk after he labelled hydrogen cars “mind-bogglingly stupid”. The West

 

 

The Australian Financial Review

Page 1: Christian Porter is set to be removed as Attorney-General, and Linda Reynolds shifted from Defence, forcing Prime Minister Scott Morrison into a second frontbench reshuffle in three months.

Westpac Banking Corp has hit back at the Reserve Bank of New Zealand’s move to load up Australian banks with extra costly regulation and capital, revealing it may exit the country.

Indonesia believes the promise of a population with herd immunity to the coronavirus and a zero tolerance to health protocol violations will be enough to tempt international tourists back to Bali by mid-year.

Page 4: Quotas to boost female representation in federal politics and the openness of major political parties to accommodate young families need to be dramatically improved, according to Labor MP Anika Wells.

Page 6: The level of unemployment that needs to be achieved before wage growth kicks in and the government needs to begin budget repair is lower than previously thought, Treasury secretary Steven Kennedy says.

Page 9: The Defence Department and one of its top contractors are at odds after bureaucrats warned of delays with the $45 billion future frigate program, and admitted a key review is running late and the ship design is heavier than planned.

Australia’s COVID-19-hit arts and entertainment sector will receive a new $135 million funding injection, part of the Morrison government’s efforts to boost 230 projects and support 90,000 jobs.

Page 11: The Morrison government is being urged to capitalise on Pacific Islands’ desire for Western-developed coronavirus vaccines before China can fill the void through its assertive campaign of ‘‘vaccine diplomacy’’.

Page 15: Premier Investments expects to deliver a record winter half after almost doubling profits in the January half, but refuses to return almost $20 million in wage subsidies, saying they are ‘‘insurance’’ against further lockdowns when JobKeeper ends this month.

Page 16: Western Australia-based mining services outfit MLG Oz’s initial public offering is off and racing.

Page 19: Concentrated solar power from a startup backed by Microsoft founder Bill Gates could be the next enabler of Rio Tinto’s plan to reduce greenhouse gas emissions.

 

 

The Australian

Page 1: Assistant Defence Minister Andrew Hastie has warned “many Australian businesses” are at high risk of having their operations disrupted and data stolen amid a wave of malicious state-sponsored and criminal cyber attacks targeting hospitals, parliaments and companies.

Page 4: Up to 150,000 jobs and 110,000 small businesses are at risk after the $90bn JobKeeper scheme ends on Sunday according to Treasury secretary Steven Kennedy, with Josh Frydenberg unveiling a $135m government life line to help support thousands of workers in the arts sector.

Page 8: Most of those killed in the volcanic eruption that hit the ancient Roman city of Pompeii in AD79 were suffocated to death by a gaseous cloud that covered the city for about 20 minutes, a study has concluded.

Page 13: Westpac’s divestment spree is far from over as it weighs a New Zealand spin-off or sale, ahead of changes to capital requirements in that market and after being hit with compliance notices for liquidity reporting failures across the Tasman.

The bullets are flying in all directions in the great investment banking poaching war, as UBS puts former executives on notice to “cease and desist” any use of confidential UBS information in the establishment of a rival business.

Page 17: Fortescue Metals chairman Andrew Forrest has announced plans to increase his company’s exposure to renewable energy to produce or “help produce” more than 1000 gigawatts of zero emission energy.

 

 

The West Australian

Page 5: Employment lawyers have seen a spike in enquiries relating to complaints of workplace sexual harassment following shameful allegations of sexual misconduct at the heart of Australia’s parliament.

Page 7: Some of Western Australia’s most senior and respected Liberals are demanding a thorough and “credible” review of the party’s disastrous performance at the State election — with just two members returned to the Legislative Assembly.

Page 9: Almost 120 extra hospital beds are being rushed into service in response to the health crisis engulfing emergency departments across Perth.

Page 14: The Federal Government is under fire over its failure to decide on where to locate the lucrative full-cycle docking submarine project — more than a year after it promised to announce whether it would go to WA or South Australia.

Business: WA mining billionaire and green energy visionary Andrew Forrest has taken a swipe at Tesla founder Elon Musk after he labelled hydrogen cars “mind-bogglingly stupid”.

The Ellendale diamond mine in the Kimberley is about to change hands again with Burgundy Diamond Mines signing a two-year option agreement to acquire the shuttered asset.

The Perth Mint argues it is on “a hiding to nowhere” after being caught up in a GameStop-like crowd surge that has conspiracy theorists claiming the country’s biggest precious metals refiner has run out of silver.

Virgin Australia has relaunched its business class as it targets the love of food and fine wine to lure the high end of town back to the pointy end of its jets.

Farmers fear Australia’s $160 million hay export industry to China could be the next victim in the trade war with the economic powerhouse, after 25 export facilities were unable to renew their licences.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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