10/05/2021 - 06:58

Morning Headlines

10/05/2021 - 06:58

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WA gaming regulator faces Crown commission grilling

The West Australian royal commission into Crown Resort’s Perth casino licence begins public hearings today with the chairman of WA’s gaming regulator, Duncan Ord, facing a grilling over money laundering at Crown Perth. The Fin

Pepper targets gig workers with float

Pepper Money will target Airtasker contractors, Uber drivers and Airbnb owners to grow its 0.5 per cent share of the Australian home loan market as it eyes a massive $1.3 billion listing on the ASX. The Fin

Tiny homes a small help as rents go through roof

WA’s unprecedented rental crisis — that has led to families cramming into small caravans or even pitching tents in other people’s backyards — is now so bad that some singles will apply to sleep in “shoebox-sized” buildings intended as short-term housing for homeless and vulnerable people. The West

Billions for aged-care overhaul

A historic $18bn aged-care reform budget package will spearhead a major funding program for government services, including a new-generation workforce for the distressed sector and record funding increases for mental health suicide prevention and people living with disabilities. The Aus

Blackstone sweetens bid for Crown

US private equity giant Blackstone has boosted its $8bn takeover proposal for Crown Resorts in a bid to end the seven-week stalemate over its initial offer for the company. The Aus

Budget super breaks for retirees

A scheme enabling downsizers to turbocharge their superannuation when they sell the family home will be extended to people aged 60 – down from 65 – to bolster retirement savings and free up critical housing stock. The Fin

Stakes put a value on Virgin

The value of the relaunched airline Virgin Australia under private equity firm Bain Capital sits at about $1 billion, according to the price paid for equity stakes taken by the Queensland government and Richard Branson’s Virgin Group. The Fin

Iron ore past $US200/t in steel recovery

Iron ore is starting the week with $US200/t in its rear-vision mirror and a strengthening recovery in the steel industry suggesting further gains. The West

Carey fails in last resort cash bid

One-time apartment supremo Norm Carey has failed in a last-ditch attempt to extract a bit of cash from the $388 million collapse of his Westpoint empire in 2005. The West

 

 

The Australian Financial Review

Page 1: A scheme enabling downsizers to turbocharge their superannuation when they sell the family home will be extended to people aged 60 – down from 65 – to bolster retirement savings and free up critical housing stock.

Page 4: The government has claimed vindication for ending the JobKeeper wage subsidy at the end of March after 105,000 people dropped off income support in April.

Page 8: The federal government is looking for developers to propose innovative services in the financial, energy and telecommunication sectors to give consumers better information and choice of providers following a $111 million expansion of the consumer data right.

Page 10: The West Australian royal commission into Crown Resort’s Perth casino licence begins public hearings today with the chairman of WA’s gaming regulator, Duncan Ord, facing a grilling over money laundering at Crown Perth.

Page 11: The editor of a Chinese newspaper says Beijing should consider launching long-range strikes on Australian military facilities if Canberra were to join a US-backed conflict in the Taiwan Strait.

Page 14: Pepper Money will target Airtasker contractors, Uber drivers and Airbnb owners to grow its 0.5 per cent share of the Australian home loan market as it eyes a massive $1.3 billion listing on the ASX.

Page 16: TPG Telecom has been rocked by another sudden exit with enterprise and government executive Elizabeth Aris jumping ship less than six months after starting at the newly merged company.

Bundaberg-born melon farmer turned mega-financier Lex Greensill will break his silence this week over the implosion of his company Greensill Capital and the firm’s use of former British prime minister David Cameron as a lobbyist.

Page 20: The value of the relaunched airline Virgin Australia under private equity firm Bain Capital sits at about $1 billion, according to the price paid for equity stakes taken by the Queensland government and Richard Branson’s Virgin Group.

 

 

The Australian

Page 1: A historic $18bn aged-care reform budget package will spearhead a major funding program for government services, including a new-generation workforce for the distressed sector and record funding increases for mental health suicide prevention and people living with disabilities.

Page 4: Residential construction across Australia will surge above 194,000 new homes this year and continue at a rapid pace into the middle of 2022, countering a 10.6 per cent fall in commercial activity driven by a slowdown in hotel and aged-care construction.

Page 6: Several leading Australian infectious diseases experts are urging the federal government to sack its advisory body on COVID-19, saying the group is ignoring new global health advice about the dangers of airborne transmission of the virus.

Page 7: A second wave of Australians abandoning capital cities is putting pressure on regional property markets as affordability becomes a pressing issue.

Page 13: US private equity giant Blackstone has boosted its $8bn takeover proposal for Crown Resorts in a bid to end the seven-week stalemate over its initial offer for the company.

Page 15: CBA’s share price is inching closer to its all-time highs as the nation’s largest lender rides the housing boom and enjoys a scandal-free stretch through the economic recovery.

Page 19: Media major News Corp is eyeing off further sharp growth in its burgeoning subscription base across its digital assets, print newspapers and pay-TV platforms, following a surge in audience engagement over the past year.

 

 

The West Australian

Page 4: Treasurer Josh Frydenberg will hand down his third Budget tomorrow, which is expected to be focused on jobs, women and the elderly, and deliver a set of numbers not thought possible when the coronavirus pandemic hit more than a year ago.

Page 7: WA’s unprecedented rental crisis — that has led to families cramming into small caravans or even pitching tents in other people’s backyards — is now so bad that some singles will apply to sleep in “shoebox-sized” buildings intended as short-term housing for homeless and vulnerable people.

Page 8: Premier Mark McGowan has backed the Federal Government’s plan to keep Australia’s international borders shut, a stance peak industry bodies said was “disturbing but sensible”.

Business: Iron ore is starting the week with $US200/t in its rear-vision mirror and a strengthening recovery in the steel industry suggesting further gains.

Japanese group IDOM has taken a $46 million hit against its expanding Australian business even as it claimed bragging rights as WA’s biggest used car dealer.

One-time apartment supremo Norm Carey has failed in a last-ditch attempt to extract a bit of cash from the $388 million collapse of his Westpoint empire in 2005.

Hackers who caused Colonial Pipeline to shut down the biggest US fuel pipeline on Friday began their blitz against the company a day earlier, stealing a lot of data before locking computers with ransomware and demanding payment.

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