14/05/2021 - 06:56

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14/05/2021 - 06:56

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Investors tell Crown to do deal quickly

The largest institutional investor in the James Packer-backed Crown Resorts has demanded the company’s board immediately start a formal sale process for its suite of Australian casino assets amid growing frustration from investors with the gaming giant’s delays in engaging with willing bidders. The Aus

Albanese’s $10b house price fix

A promise to establish a $10 billion future fund to build 30,000 low-cost houses, including 10,000 affordable dwellings for front-line workers who cannot afford to live in the suburbs they service, is the centrepiece of Labor leader Anthony Albanese’s response to the federal budget. The Fin

Australia must ‘live with Covid’

Australia faces prolonged economic pain and harm to its reputation as an open and tolerant society unless it reopens to the world, a task force of some of the country’s most prominent figures from business, arts, law and academia has warned. The Aus

Police won Crown ban on high-rollers

Police asked Western Australia’s casino watchdog to extend a ban on junket operations at Crown Perth to cover other high rollers and gamblers with privileged status, according to evidence given to the state’s royal commission into the gaming giant. The Fin

Retail, hospitality face increased costs if $450 super threshold axed

Industry lobby groups are warning the government’s decision to expand superannuation payments to workers earning less than $450 a month will lead to higher costs when many of their members are struggling from the economic downturn. The Fin

‘Political timeline’ dogs subs, say French execs

French shipbuilding executives have told staff they are locked in a ‘‘political timeline’’ to repair the fractious relationship over the $90 billion future submarine program, saying Defence Minister Peter Dutton has demanded the company agree to guarantees around costs and schedule. The Fin

Penfolds eyes new markets, even at home

Treasury Wine Estates will not be cutting prices of Penfolds in its push to build sales in other markets after punishing tariffs imposed by the Chinese government decimated annual sales of up to $500 million to that country. The Fin

Tax relief for higher earners ‘110pc sure’

Finance Minister Simon Birmingham has said the case for implementing the third stage of tax relief for higher income earners is “even stronger” now than before the pandemic, linking its delivery to the government’s plan to drive unemployment below 5 per cent. The Aus

Hunt for old EVs

The world’s biggest lithium miner wants to extract more of the battery metal from old cars as demand surges and ageing electric vehicles are traded in. The West

 

 

The Australian Financial Review

Page 1: A promise to establish a $10 billion future fund to build 30,000 low-cost houses, including 10,000 affordable dwellings for front-line workers who cannot afford to live in the suburbs they service, is the centrepiece of Labor leader Anthony Albanese’s response to the federal budget.

Page 3: Australian consumers are being offered refunds on new car purchases amid huge blowouts in wait times for vehicles to be delivered from crisis-hit foreign manufacturers.

Industry lobby groups are warning the government’s decision to expand superannuation payments to workers earning less than $450 a month will lead to higher costs when many of their members are struggling from the economic downturn.

Page 6: French shipbuilding executives have told staff they are locked in a ‘‘political timeline’’ to repair the fractious relationship over the $90 billion future submarine program, saying Defence Minister Peter Dutton has demanded the company agree to guarantees around costs and schedule.

Page 10: The Morrison government has snapped up 25 million doses of the Moderna vaccine, in a surprise boost to the nation’s COVID-19 vaccination rollout.

Page 11: Police asked Western Australia’s casino watchdog to extend a ban on junket operations at Crown Perth to cover other high rollers and gamblers with privileged status, according to evidence given to the state’s royal commission into the gaming giant.

Page 17: Treasury Wine Estates will not be cutting prices of Penfolds in its push to build sales in other markets after punishing tariffs imposed by the Chinese government decimated annual sales of up to $500 million to that country.

Page 19: Almost a year to the day since China imposed crippling tariffs on barley imports from Australia, GrainCorp has upgraded its full-year earnings and profit guidance.

Page 21: Rio Tinto’s Mongolian copper project could face a further $US1 billion ($1.28 billion) of cost blowouts with the coronavirus delays, as brinkmanship with the Mongolian government extends to the supply of power to the project.

Page 23: Humm CEO Rebecca James has pledged to maintain profitability as the former Flexigroup expands its buy now, pay later offering into Britain and Canada amid intensifying global competition that has sent stocks in the high-flying sector into a tailspin.

 

 

The Australian

Page 1: Israel’s biggest publicly listed defence company, Elbit Systems, has warned the Australian government it is prepared to wage a sustained legal battle to restore its global reputation after the army recently axed its battle management system over undisclosed security concerns.

Australia faces prolonged economic pain and harm to its reputation as an open and tolerant society unless it reopens to the world, a task force of some of the country’s most prominent figures from business, arts, law and academia has warned.

Page 2: The Australian Industry Group has urged the Fair Work Commission to limit this year’s minimum wage rise to $8.29 a week, and wants any increase for low-paid workers in COVID-stressed industries to be delayed until January.

Page 4: Finance Minister Simon Birmingham has said the case for implementing the third stage of tax relief for higher income earners is “even stronger” now than before the pandemic, linking its delivery to the government’s plan to drive unemployment below 5 per cent.

Page 13: The largest institutional investor in the James Packer-backed Crown Resorts has demanded the company’s board immediately start a formal sale process for its suite of Australian casino assets amid growing frustration from investors with the gaming giant’s delays in engaging with willing bidders.

Page 16: Shares in mining contractor Perenti Global have been smashed after the company issued an earnings downgrade, warning that rising labour costs in the superheated West Australian mining sector threaten its outlook for the next 18 months.

Page 19: The Federal Court has only granted Google limited rights to appear in the battle between Apple and Epic Games, pending a final rule.

 

 

The West Australian

Page 3: Australian researchers have been given the green light to test a common antidepressant to treat methamphetamine addiction, with the move described as a “potential game changer” in the fight against the devastating drug.

Page 4: Debbie Karasinski, the only person to lose her job after the release of a report on the tragic death of seven-year-old Aishwarya Aswath at Perth Children’s Hospital, says it was her decision to resign.

Page 5: Mark McGowan is standing by Health Minister Roger Cook in the wake of a damning report that showed Perth Children’s Hospital failed a seven-year-old girl who died after she waited more than 90 minutes to be seen, declaring his deputy had done a “a very good job for over four years”.

Page 7: The staggering insurance bill for the destruction wrought by cyclone Seroja last month has been revealed — with thousands of claims lodged so far totalling $112 million.

Page 9: The West Coast Eagles can play in front of a capacity crowd at Optus Stadium on Sunday after Mark McGowan announced a return to pre-lockdown life.

Superstar cricketers Steve Smith, left, Patrick Cummins and the rest of the Australians who fled the Indian Premier League bubble for the Maldives are on track to return home as early as Sunday.

Page 11: The director-general of WA’s scandal-plagued Department of Communities has been shifted out of her job — just two years after being appointed — as part of a wider public sector shake-up that will cost taxpayers almost $200,000.

Page 70: Banks continue to tear out automatic teller machines with more than 1600 disappearing since the start of the pandemic, sending the pool to its lowest level in more than a decade.

Business: The Federal Government’s new “patent box” initiative could be a shot in the arm for WA’s medical and biotech sectors but industry experts argue it does little to support early stage companies.

The world’s biggest lithium miner wants to extract more of the battery metal from old cars as demand surges and ageing electric vehicles are traded in.

Trial operations of flying taxis and cargo drones will begin in Coventry, England, this year as part of a plan to develop “aerial roads” for unmanned flights in urban areas.

South Korea has unveiled ambitious plans to spend about $US450 billion ($583b) to build the world’s biggest chipmaking base over the next decade, joining China and the US in a global race to dominate the key tech.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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