14/04/2021 - 06:51

Morning Headlines

14/04/2021 - 06:51

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Morning Headlines

Rebound fuels cost pressures

Businesses across the country have reported that the strongest operating conditions on record are starting to lift labour and input costs, which the Reserve Bank has said is key to the timing of higher interest rates. The Fin

Relief for Regis as investors back Tropicana equity move

The top managers at Regis Resources would have probably shown some level of relief on Tuesday night to learn that the company had secured enough investor support for its $650m equity raising to buy the 30 per cent stake in the Tropicana gold mine for $903m. The Aus

Shell reveals $7b loss on prelude writedowns

Shell’s Australian arm has laid bare the financial pain inflicted by one of the oil and gas industry’s toughest years, disclosing a $7 billion loss dominated by savage writedowns against its Prelude floating LNG project off northern WA. The West

Unis warned over online ‘cheating hacks’

The higher education regulator has warned universities of a new threat from commercial online cheating services, after the University of Western Australia discovered it had publicised a fake essay contest probably aimed at selling entries to other students. The Aus

‘Secret’ plan to pare back NDIS

The National Disability Insurance Scheme has quietly established a new taskforce designed to drive down the number of people taking up the scheme, with a leaked document showing budgets were created based on “inconsistent information and decision making”. The Aus

Cabinet crisis mode to fix vaccines mess

An embattled Scott Morrison has requested the national cabinet revert to its COVID-19 war footing and meet twice a week until the setbacks plaguing the vaccine rollout are rectified. The Fin

China iron ore imports surge, exports slow

China’s iron ore imports from Australia surged in March as steel demand in the country’s construction and manufacturing sectors remained healthy amid continued recovery from last year’s slump. The Fin

Blackstone sweetens Crown bid

US private equity giant Blackstone has sweetened its conditional offer for Crown Resorts by offering to take on more of the regulatory risk engulfing the embattled company if the board and shareholders agree to a deal more quickly. The Fin

Kalbarri residents’ hopes of rebuilding hit by huge WA skills shortage

It took only a couple of hours for Mother Nature to destroy Kalbarri — but it will take at least two years for residents to rebuild it because of skills shortages plaguing WA’s construction industry. The West

State tops confidence list

Growth in manufacturing and construction in WA has seen the State top National Australia Bank’s latest business confidence survey, as conditions nationwide hit record highs. The West

 

 

The Australian Financial Review

Page 1: Businesses across the country have reported that the strongest operating conditions on record are starting to lift labour and input costs, which the Reserve Bank has said is key to the timing of higher interest rates.

Christine Holgate has blamed Scott Morrison for forcing her out at Australia Post, dragging the government back into the damaging Cartier watches saga as the board chairman insisted the former chief executive resigned on her own volition.

Page 3: Car rental companies are being crunched by a potent combination of school holidays, exploding demand exacerbated by the federal government’s subsidised airfares, a shortage of imported new stock and pandemic-induced consumer phobia about booking early.

Page 4: More than 1 million payroll jobs have been added to the economy since the darkest days of COVID-19 lockdowns in mid-April last year, with new data pointing to further improvement in tomorrow’s employment figures.

Page 5: An embattled Scott Morrison has requested the national cabinet revert to its COVID-19 war footing and meet twice a week until the setbacks plaguing the vaccine rollout are rectified.

Page 11: China’s iron ore imports from Australia surged in March as steel demand in the country’s construction and manufacturing sectors remained healthy amid continued recovery from last year’s slump.

Page 13: US private equity giant Blackstone has sweetened its conditional offer for Crown Resorts by offering to take on more of the regulatory risk engulfing the embattled company if the board and shareholders agree to a deal more quickly.

Page 15: Private equity suitors eyeing Woolworths’ $10 billion liquor and hotels business Endeavour Group are calculating the potential impact of a proposed NSW digital gaming card, which the industry says could slash revenues by as much as $1.8 billion.

Page 16: Zip Co says its US subsidiary Quadpay has delivered record transaction volume, revenue and customer numbers over the third quarter, as US shoppers flock to its lending app.

 

 

The Australian

Page 2: The National Disability Insurance Scheme has quietly established a new taskforce designed to drive down the number of people taking up the scheme, with a leaked document showing budgets were created based on “inconsistent information and decision making”.

Page 3: Schools will be granted access to improved resources to teach children as young as five the foundational skills to develop healthy relationships, amid concerns that inadequate sex education is contributing to sexual violence among teenagers.

Page 5: The higher education regulator has warned universities of a new threat from commercial online cheating services, after the University of Western Australia discovered it had publicised a fake essay contest probably aimed at selling entries to other students.

Page 7: Scott Morrison is facing fresh calls to recommit to raising Western Australia’s share of the GST as he attempts to buttress his government’s crumbling fortress in the state.

Page 14: The top managers at Regis Resources would have probably shown some level of relief on Tuesday night to learn that the company had secured enough investor support for its $650m equity raising to buy the 30 per cent stake in the Tropicana gold mine for $903m.

 

 

The West Australian

Page 5: The Lord Mayor’s Distress Relief Fund has been activated to help victims devastated by cyclone Seroja.

Page 7: It took only a couple of hours for Mother Nature to destroy Kalbarri — but it will take at least two years for residents to rebuild it because of skills shortages plaguing WA’s construction industry.

Page 9: An 80-year-old has died in a Queensland hospital — the first Australian coronavirus death of 2021.

Business: Shell’s Australian arm has laid bare the financial pain inflicted by one of the oil and gas industry’s toughest years, disclosing a $7 billion loss dominated by savage writedowns against its Prelude floating LNG project off northern WA.

Business conditions are normalising as companies begin trading at pre-COVID levels, according to a new report revealing credit inquiries are at their highest levels in 18 months.

Dampier residents have welcomed the City of Karratha’s acquisition of a host of local sites from Rio Tinto after a long-awaited plan spanning more than three decades.

Contrarian fund manager Allan Gray says Newcrest Mining is undervalued and offers substantial upside based on its growth profile, expected lower operating costs in the future and a potentially higher gold price.

Growth in manufacturing and construction in WA has seen the State top National Australia Bank’s latest business confidence survey, as conditions nationwide hit record highs.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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