03/05/2021 - 06:54

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03/05/2021 - 06:54

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Iron ore boom bolsters federal coffers by $36b

An extra $36 billion will flow to federal coffers if record iron ore prices persist until Brazilian supply resumes at full capacity, giving the Morrison government extra financial firepower ahead of the next election. The Fin

Chevron on track for Gorgon reboot

Chevron expects global LNG production to be cut by 90,000 barrels a day in the three months to June 30, primarily due to the shutdown of the third processing unit at its troubled $US54 billion ($70 billion) Gorgon operations off the coast of Western Australia. The Fin

Seven Group swoops to lift stake in Beach Energy

Street Talk can reveal the opportunistic Seven Group had Macquarie’s equities desk offering to take Beach Energy shares off frightened punters on Friday, and ended up spending about $50 million on a 1.5 per cent stake in the oil producer. The Fin

Growth alone won’t fix budget

Savings similar to levels last seen in Tony Abbott and Joe Hockey’s politically toxic 2014 budget are needed to balance the books despite an expected $98 billion improvement to the bottom line, says Deloitte Access Economics. The Fin

‘Red hot’ recovery: jobs return

More than 90,000 people have come off welfare since the Job-Keeper scheme ended in March, quashing fears the withdrawal of government wage subsidies would push up unemployment, and delivering major savings to the budget bottom line. The Aus

Banks poised to unleash a dividend boon

Bank investors are licking their lips at the prospect of super-sized dividends from the likes of Westpac, ANZ and NAB at interim results this week as the economy picks up steam and the memory of 2020 fades. The Fin

Aussies look for an out to travel again

Two in five Australians say they should be allowed to go overseas once they have been vaccinated against COVID-19, a new poll has found. The Fin

Failing companies thrown a lifeline

Large companies at risk of collapse will be thrown a lifeline in this month’s federal budget, as the Morrison government moves to broaden simplified restructuring and liquidation rules. The Fin

Indigenous businesses boom

Indigenous businesses pump almost $5 billion a year into the Australian economy and make a huge contribution to the community, according to groundbreaking research that aims to highlight the strength of the sector. The West

Why we should worry about the microchip crisis

The international computer chip shortage is reaching a crisis point with cars, TVs, cameras, smartphones, 5G equipment and gaming consoles among goods in diminished supply. The Aus

 

 

The Australian Financial Review

Page 1: Savings similar to levels last seen in Tony Abbott and Joe Hockey’s politically toxic 2014 budget are needed to balance the books despite an expected $98 billion improvement to the bottom line, says Deloitte Access Economics.

Page 3: Two in five Australians say they should be allowed to go overseas once they have been vaccinated against COVID-19, a new poll has found.

Page 4: Large companies at risk of collapse will be thrown a lifeline in this month’s federal budget, as the Morrison government moves to broaden simplified restructuring and liquidation rules.

A $1.7 billion childcare boost in this month’s federal budget has been given the tick of approval by leading advocates, and the government has left open the door to more support before the next election.

Page 5: An extra $36 billion will flow to federal coffers if record iron ore prices persist until Brazilian supply resumes at full capacity, giving the Morrison government extra financial firepower ahead of the next election.

Page 14: Bank investors are licking their lips at the prospect of super-sized dividends from the likes of Westpac, ANZ and NAB at interim results this week as the economy picks up steam and the memory of 2020 fades.

Page 15: Street Talk can reveal the opportunistic Seven Group had Macquarie’s equities desk offering to take Beach Energy shares off frightened punters on Friday, and ended up spending about $50 million on a 1.5 per cent stake in the oil producer.

Page 16: Geopolitical power could shift from oil-dominated countries to those that produce the critical minerals that will underpin the switch to clean energy, according to KPMG, which urges advocates of the energy transition to co-operate with the mining industry.

Page 17: AUSTRAC put banks, casinos and wagering companies on notice by providing detailed guidance of the information it expects to see every time a suspicious transaction is reported.

Chevron expects global LNG production to be cut by 90,000 barrels a day in the three months to June 30, primarily due to the shutdown of the third processing unit at its troubled $US54 billion ($70 billion) Gorgon operations off the coast of Western Australia.

 

 

The Australian

Page 1: More than 90,000 people have come off welfare since the Job-Keeper scheme ended in March, quashing fears the withdrawal of government wage subsidies would push up unemployment, and delivering major savings to the budget bottom line.

Indigenous school attendance rates plunged last year, particularly in remote districts, with some areas reporting that not one child met the 90 per cent threshold deemed necessary for sustained progress in learning.

Page 3: Schools have been urged to ditch calculators and ensure mathematics teaching focuses on building students’ arithmetic knowledge and skills if Australia is to have any chance of catching up to high-performing nations.

Page 4: Jetstar will begin a hiring blitz to fill hundreds of new roles as the airline switches some of its grounded international fleet towards domestic flights that are surging in demand.

Page 5: The government has refused to release Treasury documents that spell out the assumed costs and benefits of border closures, lockdowns and other COVID-19 restrictions, a decision prominent economists have slammed as “outrageous”.

Page 13: The threat of federal government intervention in gas prices has been substantially dialled back, to the relief of major producers such as Santos, but the move has caused concern among big users, setting the scene for a fresh battle within the east coast market.

Page 15: Investors have built Afterpay into a $34bn market darling and one of the ASX’s hottest stocks but the company listed too early according to its co-founder, who says he never wanted to take the company public.

Page 17: The international computer chip shortage is reaching a crisis point with cars, TVs, cameras, smartphones, 5G equipment and gaming consoles among goods in diminished supply.

Page 19: Overnight television ratings look set to be dumped in favour of a weekly reporting model, with Australia’s television networks closing in on an industry agreement to shift to the seven-day schedule in order to capture the growing numbers of viewers who watch “catch-up TV”.

 

 

The West Australian

Page 4: Perth was “saved” from its second lockdown in a fortnight because the city was “already in a state of semi-lockdown”, Mark McGowan said as he bristled at the suggestion WA had adopted NSW’s more relaxed approach to containing COVID-19 outbreaks.

The WA president of the AMA says it’s “absolutely absurd” members of the public can still book a room or enjoy high tea at the hotel where a security guard caught COVID-19.

Page 9: The security guard infected with COVID-19 while working at the Pan Pacific is the eighth person to contract the virus in WA’s hotel quarantine system since the start of the pandemic.

Business: A leading workplace relations lawyer expects an increasing number of employers will have to consider mandating the COVID-19 vaccine as the national rollout progresses.

Indigenous businesses pump almost $5 billion a year into the Australian economy and make a huge contribution to the community, according to groundbreaking research that aims to highlight the strength of the sector.

Newly appointed president of the WA Chamber of Minerals and Energy, Fiona Hick, says gender diversity in the resources sector has improved since she started her career 25 years ago but still has “a way to go”.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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