28/04/2021 - 07:00

Morning Headlines

28/04/2021 - 07:00

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Consider divorce in French subs deal: Patrick

The Defence Department should consider dumping French shipbuilder Naval Group in light of growing problems over the acquisition of the new submarine fleet, key crossbench senator Rex Patrick says. The Fin

Quay player stalls twin-tower plans

Plans to start building two landmark skyscrapers at Elizabeth Quay have been deferred as the search for an anchor tenant continues but developer Brookfield Properties says it remains committed to the project. The West

Pre-election warning COVID hotel 'high risk'

The WA Health Department was warned before last month’s State election that the Mercure — the hotel at the centre of an outbreak that plunged Perth into a long weekend lockdown — was at “high risk” of COVID transmission. The West

Tyre giant buys mining services firm

WA’s Otraco tyre management business is heading into overseas hands, nearly 40 years after it began life at BHP’s Mt Whaleback iron ore mine. The West

Education exports ‘could halve’

Australia’s highly successful education export business, worth over $40bn in 2019, will see its value halved by the end of next year unless international students are able to move freely into the country, according to a new study. The Aus

Knapp time: Woolies to automate online grocery orders

Woolworths hopes to slash the cost of online groceries and deliver more orders faster by building automated fulfilment centres to supplement orders picked from its supermarkets and ‘‘dark’’ stores. The Fin

Heritage spats slow BHP plans

Development of BHP’s Olympic Dam mine and the nearby Oak Dam copper discovery could be slowed after native title custodians halted cultural heritage advice until their agreement with the mining giant was modernised. The Fin

Tabcorp flags review despite new $3.5b bid

Tabcorp will press ahead with its strategic review of its troubled gaming and wagering business, despite enticing a sweetened $3.5 billion offer from London-listed Entain. The Fin

Private equity circles A-League

The struggling A-League — which from July will be owned by the 12 entrepreneurs, investment groups and, in the case of Melbourne City, a city state — is in the market for private equity investment that is said to value the competition at more than $200m. The Aus

Government is on the warpath

The Government is spending close to $750 million to upgrade Defence training facilities so Australia and the US can engage in live “war games”. The West

 

 

The Australian Financial Review

Page 1: Up to 9000 Australian citizens and residents will remain stranded in India for at least three weeks after the federal government shut down all flights into Australia while joining global relief efforts to help the coronavirus-ravaged country.

Mushrooming rooftop solar and mild summer weather have driven demand for power from the grid to the lowest for 19 years for the peak summer quarter, cutting wholesale prices by up to 68 per cent and pushing major coal and gas power generators such as AGL Energy to the brink.

Page 2: A tumultuous 2020 for universities has been a preview of years of disruption as cost-cutting, redundancies, the cancellation of capital projects, closure of courses and campuses and asset selloffs become the norm.

Page 3: The federal government is ‘‘deeply engaged’’ with three vaccine developers in planning for vaccine boosters and programs to deal with COVID-19 variants that may be required in future.

Page 4: The Defence Department should consider dumping French shipbuilder Naval Group in light of growing problems over the acquisition of the new submarine fleet, key crossbench senator Rex Patrick says.

Page 6: Australian cricketers are weighing up playing through the Indian Premier League following Prime Minister Scott Morrison’s decision to pause commercial flights from India, which is being devastated by surging coronavirus inflections and deaths.

Page 8: New Digital Transformation Minister Stuart Robert is calling for a national approach to digital infrastructure, citing the need to avoid a century-long problem like different state railway gauges stymieing economic development.

Page 13: Development of BHP’s Olympic Dam mine and the nearby Oak Dam copper discovery could be slowed after native title custodians halted cultural heritage advice until their agreement with the mining giant was modernised.

Page 15: Tabcorp will press ahead with its strategic review of its troubled gaming and wagering business, despite enticing a sweetened $3.5 billion offer from London-listed Entain.

Woolworths hopes to slash the cost of online groceries and deliver more orders faster by building automated fulfilment centres to supplement orders picked from its supermarkets and ‘‘dark’’ stores.

Page 19: The loan deferral program devised by federal Treasurer Josh Frydenberg, the banks and the prudential regulator to get borrowers through to the other side of the coronavirus pandemic has been declared a success.

 

 

The Australian

Page 4: Australia’s highly successful education export business, worth over $40bn in 2019, will see its value halved by the end of next year unless international students are able to move freely into the country, according to a new study.

The federal government's latest iteration of the popular 5 per cent deposit scheme for first-home buyers to build new homes has proven disproportionately popular in Queensland and Western Australia.

Page 5: The government’s income support and JobKeeper programs prevented almost 500 suicides and more than 4000 hospitalisations, according to independent health modelling that also said ongoing job support would help stem the pandemic’s continuing mental health impacts.

Page 14: The struggling A-League — which from July will be owned by the 12 entrepreneurs, investment groups and, in the case of Melbourne City, a city state — is in the market for private equity investment that is said to value the competition at more than $200m.

Page 20: Navitas, one of the nation’s biggest education companies, has raised the alarm on the international student industry with a new survey showing that interest in Australia as an education destination is plummeting.

 

 

The West Australian

Page 5: Half of Britain’s population has now had at least one jab against COVID-19 and Public Health England says the vaccines have already saved at least 6000 lives and stopped many becoming ill.

Page 6: The WA Health Department was warned before last month’s State election that the Mercure — the hotel at the centre of an outbreak that plunged Perth into a long weekend lockdown — was at “high risk” of COVID transmission.

Page 14: The Government is spending close to $750 million to upgrade Defence training facilities so Australia and the US can engage in live “war games”.

Page 18: Perth’s dog-eat-dog rental market is forcing people to give up their beloved pets — and could be pushing owners who won’t into homelessness.

Business: WA’s Otraco tyre management business is heading into overseas hands, nearly 40 years after it began life at BHP’s Mt Whaleback iron ore mine.

WA Premier Mark McGowan’s decision to plunge the Perth and Peel regions into a snap three-day lockdown has rocked consumer confidence and clouded outlooks on current and future economic conditions.

Plans to start building two landmark skyscrapers at Elizabeth Quay have been deferred as the search for an anchor tenant continues but developer Brookfield Properties says it remains committed to the project.

One of WA's most established agribusinesses has posted an almost sevenfold increase in profits but its owner says it is a result of crazy accounting standards and "frothy" cattle prices.

Calls are growing for the McGowan Government to find ways to diversify WA’s resources-dependent economy after a report showed the State shooting up the economic leaderboard, driven mainly by mining.

Aspiring mineral sands miner Strandline Resources has struck an LNG supply deal with the Woodside-EDL joint venture for its Coburn project near Shark Bay.

Diversified miner South32 more than doubled its net cash over the recent March quarter to $US517 million ($663m) on the back of a strong operating performance and improving commodity prices.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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