27/04/2021 - 07:06

Morning Headlines

27/04/2021 - 07:06

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WA told to toughen up

NSW and the federal government are pushing back against Western Australia’s threat to permanently slash its hotel quarantine intake, warning it will force Australians to languish overseas for longer and hold back a reopening of borders to tourists and skilled workers to boost the economy. The Fin

China emissions cuts stoke quality iron ore premiums

China’s drive to reduce steelmaking emissions has sparked record price premiums for high-quality iron ore products which could be worth more than $3 billion for both BHP and Rio Tinto this year while also turning a Tasmanian minnow into a market darling. The Fin

Many West Aussies aren’t checking in when out shopping

Premier Mark McGowan has described the SafeWA app as the best way to preserve “our way of life”— yet shocking new figures reveal that a third of people still aren’t checking in when they shop. The West

Sub deal with French builder in trouble

The Defence Department is refusing to sign new contracts with French shipbuilder Naval Group over the troubled $90 billion submarine project, as Prime Minister Scott Morrison and Defence Minister Peter Dutton demand all major strategic decisions go through their offices. The Fin

Quarantine alternatives months away

Alternatives to using hotel rooms for quarantining international arrivals, which medical experts say are flawed, are unlikely to be available any time soon. The Fin

AGL demerger in doubt after CEO’s odd exit

The shock departure of Brett Redman as CEO of AGL Energy has fuelled speculation that the demerger plan he developed may have hit the rocks, as his exit gives space for top management to backtrack and adjust the strategy for the embattled electricity and gas supplier. The Fin

NDIS checks ‘a danger to disabled’

Claims by the agency administering the NDIS that “sympathy bias” by doctors could be inflating claims by applicants in the $21bn-a-year scheme is not backed by evidence, a peak disability advocacy body has warned. The Aus

PM gets top marks for his handling of the pandemic

More than two-thirds of Australians support Scott Morrison’s handling of the coronavirus pandemic — including a majority of Coalition, Labor and Greens voters — despite setbacks in the vaccine rollout and clashes with state governments over delivery and hotel quarantine. The Aus

Backyard rooms for $230

WA’s rental crisis is fuelling a wave of new accommodation options hitting the market, including tiny granny flats for $230 a week. The West

Rumble to raise $30m

Rumble Resources is understood to be seeking $30 million in a capital raising to increase exploration at its recent zinc-lead discovery north of Wiluna. The West

 

 

The Australian Financial Review

Page 1: NSW and the federal government are pushing back against Western Australia’s threat to permanently slash its hotel quarantine intake, warning it will force Australians to languish overseas for longer and hold back a reopening of borders to tourists and skilled workers to boost the economy.

The CSIRO’s technology and science investment fund, Main Sequence, has raised $250 million to form a second fund to invest in emerging Australian “deep tech” and science-based startups, which it says demonstrate the potential to solve the world’s biggest problems.

Page 3: The Defence Department is refusing to sign new contracts with French shipbuilder Naval Group over the troubled $90 billion submarine project, as Prime Minister Scott Morrison and Defence Minister Peter Dutton demand all major strategic decisions go through their offices.

Page 6: More economists have backed the federal budget to return to surplus within four years and investment bank UBS suggests it could be done without substantial near-term fiscal repair.

Page 9: Alternatives to using hotel rooms for quarantining international arrivals, which medical experts say are flawed, are unlikely to be available any time soon.

Page 13: The shock departure of Brett Redman as CEO of AGL Energy has fuelled speculation that the demerger plan he developed may have hit the rocks, as his exit gives space for top management to backtrack and adjust the strategy for the embattled electricity and gas supplier.

China’s drive to reduce steelmaking emissions has sparked record price premiums for high-quality iron ore products which could be worth more than $3 billion for both BHP and Rio Tinto this year while also turning a Tasmanian minnow into a market darling.

Page 16: Qantas and Virgin Australia have reassured passengers none of their A320 jets are affected by an urgent notice from safety regulators warning a faulty fuel pump could cause an ‘‘explosion and consequent loss of the aeroplane’’.

Page 20: Technology companies are being forced to take extreme, and increasingly expensive, measures to find talent as they are forced to grapple with a worsening talent shortage after more than a year of border closures.

 

 

The Australian

Page 1: One of Australia’s most powerful national security leaders has declared the “drums of war” are beating and the country must be prepared “to send off, yet again, our warriors to fight”.

Page 2: Claims by the agency administering the NDIS that “sympathy bias” by doctors could be inflating claims by applicants in the $21bn-a-year scheme is not backed by evidence, a peak disability advocacy body has warned.

Page 4: Australia’s historic COVID downturn has been followed with an equally historic rapid recovery that could wipe out the largest peacetime budget deficit as soon as the middle of the decade, according to new estimates.

Page 5: More than two-thirds of Australians support Scott Morrison’s handling of the coronavirus pandemic — including a majority of Coalition, Labor and Greens voters — despite setbacks in the vaccine rollout and clashes with state governments over delivery and hotel quarantine.

Page 13: Booming iron ore prices and a strong jobs market have improved Australia’s economic performance to the point where the May 11 budget could project a return to surplus within three years even with additional fiscal stimulus, top economists say.

Japanese companies are keen to spend some of the $US5 trillion ($6.4 trillion) in cash on their balance sheets on Australian hydrogen projects, technology and industries such as housing, according to Herbert Smith Freehills adviser and former Wallaby Ian Williams.

Non-bank lender Nimble, which is targeting an ASX listing next year, warns many consumers are maxing out on purchases via buy now, pay later accounts and face a looming “debt spiral”.

Page 15: Fewer than 200,000 half-price airfares remain from the federal government’s $1.2bn aviation support package, with Deputy Prime Minister Michael McCormack declaring the industry “bounce back” was well under way.

 

 

The West Australian

Page 4: Premier Mark McGowan has described the SafeWA app as the best way to preserve “our way of life”— yet shocking new figures reveal that a third of people still aren’t checking in when they shop.

Page 7: WA cricketer Andrew Tye has landed back in Australia after fleeing the lucrative Indian Premier League early amid a frightening surge in COVID-19 cases.

A queue of cars snaked through the Herdsman Industrial Estate yesterday after Mineral Resources ordered its entire Perth-based staff of about 500 to be tested for COVID-19.

Page 11: WA’s rental crisis is fuelling a wave of new accommodation options hitting the market, including tiny granny flats for $230 a week.

Business: Australia’s billions in fossil fuel subsidies are under the spotlight in a new report as the US puts pressure on other countries to stop handing money to the sector.

Receivers acting for the one-time financial backers of a young Dalkeith-based share trader have been given the green light to seize control of more than $120 million in assets.

The snap lockdown has delivered a $100 million revenue hit to WA’s embattled hospitality and hotel sectors, which are bracing for more pain in coming days.

Australia’s “fizzing” housing market is set to cool in the period ahead as factors — including strained affordability and likely lending curbs — combine to restrain prices, Westpac said.

Rumble Resources is understood to be seeking $30 million in a capital raising to increase exploration at its recent zinc-lead discovery north of Wiluna.

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