Housing stimulus a $100bn bonanza
Homeowners and first-home buyers will drive more than $103bn in economic stimulus, with the government now considering a further budget extension to the $25,000 HomeBuilder scheme, given demand for the payments outstripped Treasury forecasts by more than 400 per cent. The Aus
Business hails miracle rebound
Business leaders have hailed the strength of the recovery of the Australia economy, describing the bounce back of jobs, which pushed the unemployment rate down to 5.6 per cent, as ‘‘miraculous’’. The Fin
Coinbase IPO sparks rush for crypto assets
The $110 billion US initial public offering of cryptocurrency exchange Coinbase has yielded an estimated $500 million windfall for Westpac’s venture capital fund and poured fuel on the demand from Australian institutional and retail investors for the digital asset gold rush. The Fin
Jab hubs key to Christmas immunisation
Ahead of the emergency national cabinet on Monday, federal and state governments have focused on plans for mass vaccination of more than 10 million people in the run-up to Christmas, in a plan experts have declared ‘‘extraordinarily ambitious’’. The Fin
Hope row springs infernal
Hancock Prospecting has hit back at fraud and dishonesty allegations over Gina Rinehart’s dealings after the death of her father Lang Hancock in 1992. The West
Women’s super savings set for budget boost
The Morrison government is exploring options enabling women to bolster their retirement savings, after deciding against trying to cap the superannuation guarantee to stop it from rising to 12 per cent. The Fin
PM praises the State’s miners as he leaves door open for China advice from Forrest
Scott Morrison has left the door open to enlisting billionaire miner Andrew Forrest to help him resolve tensions with China. The West
Chairman hits back at climate activists
Woodside chairman Richard Goyder has clashed with an activist group, questioning why corporate laws allow minority groups with tiny shareholdings to push their agenda at annual meetings. The West
CBA silent on Suncorp
The head of Australia’s biggest bank has declined to comment on whether he has any interest in buying Suncorp’s banking division. The West
Pandemic’s effect to linger for years
Australia will likely find COVID-19 has a lingering effect on the economy and the sheer scale of stimulus means it will probably be a couple of years before it’s clear how much has changed, former Reserve Bank board member Heather Ridout says. The West
The Australian Financial Review
Page 1: Business leaders have hailed the strength of the recovery of the Australia economy, describing the bounce back of jobs, which pushed the unemployment rate down to 5.6 per cent, as ‘‘miraculous’’.
Page 3: Controversial recommendations for a partial sale of Australia Post will not be taken up by the Coalition government as Treasurer Josh Frydenberg has ruled out any imminent privatisation.
Page 4: Ahead of the emergency national cabinet on Monday, federal and state governments have focused on plans for mass vaccination of more than 10 million people in the run-up to Christmas, in a plan experts have declared ‘‘extraordinarily ambitious’’.
Page 6: The Morrison government is exploring options enabling women to bolster their retirement savings, after deciding against trying to cap the superannuation guarantee to stop it from rising to 12 per cent.
Page 12: Qantas and Virgin Australia are planning to get their fleets back into Australian skies and hire hundreds of staff, kick-started by a huge pent-up demand for leisure travel.
Page 17: ANZ Banking Group is going hell for leather in a perceived attempt to lock customers into high-fee credit cards ahead of a deadline for the financial regulator’s new design and distribution obligations, which may find such deals are not compliant.
Page 19: Santos chairman Keith Spence has reassured shareholders its $6 million incentive to keep Kevin Gallagher as chief executive until 2025 will be subject to strict performance hurdles and the company would not repeat past mistakes with such schemes.
Page 24: The $110 billion US initial public offering of cryptocurrency exchange Coinbase has yielded an estimated $500 million windfall for Westpac’s venture capital fund and poured fuel on the demand from Australian institutional and retail investors for the digital asset gold rush.
The Australian
Page 1: Australia’s longest war will end in September after Scott Morrison pledged to pull out all troops from Afghanistan, drawing a line under the two-decade conflict that cost the lives of 41 Diggers, scarred a generation of veterans and cost $8bn under six prime ministers.
Josh Frydenberg will put jobs growth at the centre of next month’s budget, ahead of immediate fiscal repair, in a bid to continue driving the nation’s employment recovery after Australia’s unemployment rate plunged to 5.6 per cent.
Page 4: A booming West Australian economy has helped drive national unemployment down to 5.6 per cent in March, as the labour market smashed expectations again and notched up its sixth consecutive month of jobs growth.
Page 5: Homeowners and first-home buyers will drive more than $103bn in economic stimulus, with the government now considering a further budget extension to the $25,000 HomeBuilder scheme, given demand for the payments outstripped Treasury forecasts by more than 400 per cent.
Page 15: US computer games billionaire Tim Sweeney’s Federal Court appeal in his Apple fight has the potential to open the computer giant’s walled garden to a range of industries, including the banks and other app producers.
The nation’s two biggest home lenders have argued strongly against any measures to curb the housing boom, despite predicting that prices will surge 10 per cent this year.
The West Australian
Page 3: Pop princess Kylie Minogue is sprinkling some of her stardust on WA after choosing Margaret River as the home of her first Australian wine.
Page 4: Scott Morrison has left the door open to enlisting billionaire miner Andrew Forrest to help him resolve tensions with China.
Page 16: Teachers and parents are avoiding difficult discussions about racism with primary school children, leading to ingrained attitudes into adulthood.
Page 66: A Canadian member of parliament has given colleagues more than they bargained for after being caught stark naked in a virtual meeting of the House of Commons.
Business: Woodside chairman Richard Goyder has clashed with an activist group, questioning why corporate laws allow minority groups with tiny shareholdings to push their agenda at annual meetings.
The head of Australia’s biggest bank has declined to comment on whether he has any interest in buying Suncorp’s banking division.
Hancock Prospecting has hit back at fraud and dishonesty allegations over Gina Rinehart’s dealings after the death of her father Lang Hancock in 1992.
Australia will likely find COVID-19 has a lingering effect on the economy and the sheer scale of stimulus means it will probably be a couple of years before it’s clear how much has changed, former Reserve Bank board member Heather Ridout says.
