12/05/2021 - 06:49

Morning Headlines

12/05/2021 - 06:49

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Investors to reap $65b windfall

Investors will share in a $65 billion windfall in shareholder returns from the big three iron ore miners, with dividend forecasts for BHP, Rio Tinto and Fortescue Metals Group upgraded by analysts after prices soared by more than 20 per cent in a week. The Fin

Jobs, spending and deficits

More than $29 billion in temporary business and personal income tax cuts, a $33 billion boost for care services and $4 billion more for training programs are at the core of a budget that aims to create 250,000 jobs by the end of next year and drive the unemployment rate below 5 per cent. The Fin

Stock shortage hits dealers

WA car buyers are snapping up new vehicles before the rubber hits the road, with entire shiploads pre-bought in a COVID-19 sales surge that is emptying car yards as fast as dealers can fill them. The West

Morrison ministers back Iluka rare earths hub

The Morrison government has thrown its support behind an Iluka Resources plan to develop the first fully integrated rare earths supply chain on Australian soil and in doing so create a processing hub for third-party miners. The Fin

Star’s Crown merger faces ACCC hurdle

The Star’s proposed takeover of James Packer’s Crown Resorts faces a full investigation by the competition watchdog that will focus on market concentration in table games and other segments of the gambling market. The Fin

A shot at vaccine self-reliance

Australia could achieve total COVID-19 vaccine self-reliance within six months and produce enough synthetic vaccine to inoculate the entire nation under a partnership between international biotech giant BioCina and the University of Adelaide. The Aus

CCI backs measures but makes case for extra

The Morrison Government’s Budget push to put business in the driver’s seat of the pandemic recovery has been backed by WA’s peak industry body but it also warns further investment incentives are needed to diversify the economy. The West

Canberra foresees sharp fall in iron ore prices

Iron ore prices are tipped to fall sharply over the next nine months, according to government forecasts, even as prices for the steelmaking commodity in the past week surged to all-time highs of $US231 a tonne. The Aus

Nation leads way in Coca-Cola sales

Australia is shining as one of the strongest markets in the world for Coca-Cola and other sugary drinks as the rest of the globe suffers from the deadening impact of COVID-19 on consumer confidence and socialising that has dented beverage sales. The Aus

Ord Valley gets a shot in the arm

Ord Valley farmers are a step closer to creating the State’s first cotton processing facility after creating a private company to lead the operation. The West

 

 

The Australian Financial Review

Page S1: More than $29 billion in temporary business and personal income tax cuts, a $33 billion boost for care services and $4 billion more for training programs are at the core of a budget that aims to create 250,000 jobs by the end of next year and drive the unemployment rate below 5 per cent.

Page S8: The iron ore price will add a further $12.5 billion to the budget bottom line if prices remain elevated until the end of the March quarter next year, Treasurer Josh Frydenberg says.

Page 1: Investors will share in a $65 billion windfall in shareholder returns from the big three iron ore miners, with dividend forecasts for BHP, Rio Tinto and Fortescue Metals Group upgraded by analysts after prices soared by more than 20 per cent in a week.

Page 4: Technology start-up founders and investors say Australia still has a long way to go to be a destination of choice for the world’s best technology talent and welcomed changes to employee share scheme (ESS) rules coming in the federal budget.

Page 8: Education is the only remaining Australian export market to China worth more than $10 billion that Beijing could target without inflicting significant harm on its own economy, a new report says.

Page 11: The Star’s proposed takeover of James Packer’s Crown Resorts faces a full investigation by the competition watchdog that will focus on market concentration in table games and other segments of the gambling market.

Page 12: Street Talk can reveal Downer has started shopping a bucket of 210 hospitality sector contracts in its Spotless Group arm to rival services companies, pitching it as a ‘‘low-concentration portfolio’’ across Australia and New Zealand.

Page 13: The Morrison government has thrown its support behind an Iluka Resources plan to develop the first fully integrated rare earths supply chain on Australian soil and in doing so create a processing hub for third-party miners.

Page 15: Fears are mounting that souring relations between Australia and China are set to spill over into liquefied natural gas (LNG), threatening Australia’s $13 billion export trade with the world’s biggest growth market for the fuel.

 

 

The Australian

Page 17: Australia could achieve total COVID-19 vaccine self-reliance within six months and produce enough synthetic vaccine to inoculate the entire nation under a partnership between international biotech giant BioCina and the University of Adelaide.

Page 20: Coronavirus has escaped hotel quarantine again, this time infecting a man in his 30s who quarantined in South Australia before returning to Victoria last week.

Page 25: Bumper activity in the housing market and lofty price growth won’t be sustained, as brought-forward demand peters out and the sector feels the impact of slower population growth.

Page 26: Rents in suburban and regional markets are expected to surge in coming months as the number of available rental properties nationally slipped in April to the lowest level in almost a decade.

Page 27: Australia is shining as one of the strongest markets in the world for Coca-Cola and other sugary drinks as the rest of the globe suffers from the deadening impact of COVID-19 on consumer confidence and socialising that has dented beverage sales.

Page 28: Global supplies of wind and solar grew at their fastest rate in two decades in 2020 and are tipped to outpace existing forecasts in the next two years, while installations of rooftop solar in Australia will also remain strong.

Page 31: Iron ore prices are tipped to fall sharply over the next nine months, according to government forecasts, even as prices for the steelmaking commodity in the past week surged to all-time highs of $US231 a tonne.

 

 

The West Australian

Page 7: Premier Mark McGowan has labelled the nation’s slow vaccine rollout rate as “frustrating”.

Page 10: Almost $300,000 in WA taxpayers’ money has been paid to a former senior media adviser who resigned after being wrongly accused of sexual assault.

Page 11: A witness for Nine in its defamation defence against Ben Roberts-Smith says he has not spoken to the media giant and had no idea it was relying on his evidence.

Page 19: The ABC plans to harvest the personal data of millions of Australians who view the national broadcaster’s programs on its popular iview streaming platform.

Page 24: Federal Labor Party leader Anthony Albanese has launched an official WeChat page in a bid to engage with the Australian-Chinese community, introducing himself as the country’s next potential prime minister.

Business: The Morrison Government’s Budget push to put business in the driver’s seat of the pandemic recovery has been backed by WA’s peak industry body but it also warns further investment incentives are needed to diversify the economy.

The revival of a proposed port at Oakajee north of Geraldton is part of a plan that could kickstart stalled magnetite projects in the Mid West.

WA business owners say the Federal Budget could have included more support for small and medium enterprises but are confident the commitments handed down will keep overall sentiment high.

Analysts say the fundamentals behind an emerging resources-led super cycle remain in place despite key commodities and most mining stocks taking a breather yesterday.

WA car buyers are snapping up new vehicles before the rubber hits the road, with entire shiploads pre-bought in a COVID-19 sales surge that is emptying car yards as fast as dealers can fill them.

Ord Valley farmers are a step closer to creating the State’s first cotton processing facility after creating a private company to lead the operation.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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