04/05/2021 - 07:04

Morning Headlines

04/05/2021 - 07:04

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Morning Headlines

Too early to ditch diesel rebate billions, miners say

Big miners say their adoption of hydrogen and battery-powered vehicles is at an embryonic stage and their experimentation with new technology should not herald the end of the $7.9 billion federal tax rebate on fossil fuels such as diesel. The Fin

Start-up targets the satellite boom

Australia’s national science agency, CSIRO, is behind a new space start-up that aims to be a world leader in enabling growth of the booming satellite industry. The Fin

PM’s $1.3b to bust congestion & create jobs

The Morrison Government will inject $1.3 billion into the WA economy to help upgrade roads and fund key infrastructure projects as a way of keeping the economy moving. The West

Top duo in MLG listing

WA mining entrepreneurs Bill Beament and Chris Ellison will emerge as top 20 shareholders in mining services company MLG Oz when it lists on the Australian Securities Exchange today. The West

Vaccine rate well below level for herd immunity

Australia will have to quadruple its daily coronavirus vaccination rate to achieve herd immunity by Christmas, new analysis shows. The Fin

‘Debt trap’ diplomacy slapdown

Foreign Minister Marise Payne has attacked efforts to “buy influence’’ and “pick off’’ individual countries in a diplomatic rebuke aimed at China ahead of two weeks of international talks with some of the world’s biggest democracies on strengthening global security. The Aus

Varde Partners bankrolls ‘mini-Min Res’ mining play

Distressed debt bigwig Varde Partners is trying to bang together two resources plays to create what it hopes could look like the next Mineral Resources. The Fin

Truckies threaten to disrupt retailers

The Transport Workers Union is threatening to stage protests and sit-ins at the country’s biggest retailers during a “winter of discontent” aimed at reducing supply chain pressure on transport companies and delivering wage and superannuation rises to tens of thousands of workers. The Aus

KKR sticks to its Australian Venue stake amid $352m raising

KKR won’t sell down its stake in Australian Venue Holdings as it prepares a float of the pub group, with the company putting a $352m raising to fund managers on Monday to bolster its position amid a recovering market. The Aus

Rockpool empire sliced up as Perry exits

The private equity owner of the famed Rockpool restaurant empire will carve up the high-profile dining group, splitting it into high-end and casual dining arms, as famed chef Neil Perry exits. The Aus

 

 

The Australian Financial Review

Page 3: Corporate leaders say putting new transparency obligations on influential proxy advice firms will avoid unfounded views about companies arising from a lack of consultation.

Australia’s national science agency, CSIRO, is behind a new space start-up that aims to be a world leader in enabling growth of the booming satellite industry.

Page 4: Big miners say their adoption of hydrogen and battery-powered vehicles is at an embryonic stage and their experimentation with new technology should not herald the end of the $7.9 billion federal tax rebate on fossil fuels such as diesel.

Page 5: Taxpayers face being saddled with a near $500 million payout if a review recommends the Morrison government should tear up the 99-year lease between the Northern Territory and a private Chinese-owned company for the Port of Darwin.

Page 6: Australia will have to quadruple its daily coronavirus vaccination rate to achieve herd immunity by Christmas, new analysis shows.

Page 7: Insolvency experts say reforms announced yesterday that are designed to help struggling companies at risk of collapse would benefit from adopting US-style bankruptcy options.

Page 12: Distressed debt bigwig Varde Partners is trying to bang together two resources plays to create what it hopes could look like the next Mineral Resources.

Page 13: eBay Australia hopes to boost sales of luxury sneakers by launching an authentication guarantee program for top-selling brands such as Nike’s Air Jordan and AdidasYeezy, which sell online for thousands of dollars.

Page 17: SAP has booked its first Australia profit in six years, thanks to the rapid growth of its cloud division and reduced expenses in the pandemic, but the software giant suffered a worrying revenue hit, particularly in its services division.

Australian technoentrepreneur Craig Wright is headed to an English courtroom to prove that he is Satoshi Nakamoto, the anonymous and almost mythical progenitor of bitcoin, as part of a fight to wrest control of his claimed creation.

 

 

The Australian

Page 1: Foreign Minister Marise Payne has attacked efforts to “buy influence’’ and “pick off’’ individual countries in a diplomatic rebuke aimed at China ahead of two weeks of international talks with some of the world’s biggest democracies on strengthening global security.

Page 5: Reserve Bank governor Philip Lowe is expected to reveal updated forecasts showing Australia will reach full employment in two years’ time, but he is unlikely to budge from his view that rates will stay at virtually zero until 2024 “at the earliest”.

The Transport Workers Union is threatening to stage protests and sit-ins at the country’s biggest retailers during a “winter of discontent” aimed at reducing supply chain pressure on transport companies and delivering wage and superannuation rises to tens of thousands of workers.

A guest at the quarantine hotel behind Perth’s latest COVID outbreak says he has seen guards not wearing masks when in hallways outside the rooms of quarantined guests, as the second COVID outbreak in as many weeks from one of Western Australia’s quarantine hotels again intensified scrutiny on the system.

Page 14: KKR won’t sell down its stake in Australian Venue Holdings as it prepares a float of the pub group, with the company putting a $352m raising to fund managers on Monday to bolster its position amid a recovering market.

Page 15: The private equity owner of the famed Rockpool restaurant empire will carve up the high-profile dining group, splitting it into high-end and casual dining arms, as famed chef Neil Perry exits.

 

 

The West Australian

Page 3: Eight out of 10 West Australians have some level of concern about a potential conflict between the US and China, a poll has found after Home Affairs secretary Michael Pezzullo’s warning that the “drums of war” were beating louder.

Page 4: Premier Mark McGowan has flagged Perth residents may be forced to keep wearing masks for longer, as health authorities remain at a loss to explain how a mask-wearing security guard contracted COVID-19 from a returned traveller at the Pan Pacific hotel.

The Morrison Government will inject $1.3 billion into the WA economy to help upgrade roads and fund key infrastructure projects as a way of keeping the economy moving.

Page 12: Gymnastics Australia has unreservedly apologised to athletes after an investigation uncovered horrific abuse in the sport, including the molestation of young girls and a culture so bad it left athletes suicidal.

Western Power claims the Mid West’s cyclone-hit power network is not deficient and does not need any “major corrections”, despite some people remaining without power for more than three weeks.

Business: WA mining entrepreneurs Bill Beament and Chris Ellison will emerge as top 20 shareholders in mining services company MLG Oz when it lists on the Australian Securities Exchange today.

Shares in Alkane Resources shot 30 per cent higher yesterday after positive drill results forced a short squeeze in its shares.

Sundance Resources says it has secured litigation funding for its fight against the Republic of Congo over the stripping of the mining licence for its flagship iron ore project.

Strong demand for workers continued in April, undaunted by the end of the JobKeeper wage subsidy a month earlier.

WorkSafe is investigating union claims that workers at Chevron’s Gorgon LNG project on Barrow Island were exposed to mercury while working on the gas plant last week.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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