02/06/2021 - 07:01

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02/06/2021 - 07:01

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Indigenous veto a ‘red flag’ to WA miners

The lobby group representing Western Australia’s mining and oil and gas giants says new Aboriginal heritage laws in the state cannot include a power of veto for traditional owner groups because it is too great a threat to the economy. The Fin

Poll shows WA supports border exemptions

Almost three-quarters of West Australians want people vaccinated against COVID-19 to be exempt from interstate border closures, according to a new poll. The West

Oil, gas firms told to disclose climate risks

A $700 million oil and gas exploration group chaired by Future Fund guardian John Poynton and National COVID-19 Commission boss Nev Power was one of five fossil fuel firms warned by the corporate regulator they risked breaking the law because of nondisclosure of climate change risks. The Fin

Iron ore, restocking boost GDP

Booming iron ore exports and retailers restocking inventories in response to strong consumer spending have led economists to upgrade their already-upbeat expectations for the March quarter economic growth figures due out today, which are expected to show that output has already surpassed pre-pandemic levels. The Fin

Teacher quality key to economic growth: report

The holy grail of improving the quality of school teachers, which a new report says is one of the most important factors in boosting economic productivity, depends almost entirely on the ability to measure their competence, education experts say. The Fin

Macca’s appetite for more stores

McDonald’s Australia chief executive and managing director Andrew Gregory says the fast food chain is planning to open as many as 40 new restaurants annually in the coming years, as the franchise seeks to fast-track its local growth. The Aus

Rates stay at 0.1pc as bank monitors property boom

The Reserve Bank of Australia has warned it is monitoring lending to property investors, as borrowing by real estate speculators picks up and residential housing construction booms. The Fin

Blow-up over gas sees ALP divided

Anthony Albanese will accuse Scott Morrison of “prioritising his domestic political interests over Australia’s national interests” and warn mining chiefs the federal government has no long-term strategy to deal with a more assertive China. The Aus

Bocellis vow to fight Forrest Place eviction in Supreme Court

The owners of Bocelli Espresso have vowed to fight the City of Perth in Forrest Place and in court after a top bureaucrat threatened to seize control of the landmark cafe next week. The West

Clamps on short sell critiques

The corporate regulator wants activist short sellers to scrap inflammatory language and air their critiques of Australian listed companies outside trading hours under new, sometimes optimistic guidelines aimed at better protecting investors. The West

 

 

The Australian Financial Review

Page 1: Booming iron ore exports and retailers restocking inventories in response to strong consumer spending have led economists to upgrade their already-upbeat expectations for the March quarter economic growth figures due out today, which are expected to show that output has already surpassed pre-pandemic levels.

OECD secretary-general Mathias Cormann kicked off his first hours in the job with a challenge to his membership: it is time for democratic and market-based nations to rally against autocracy.

Page 2: The holy grail of improving the quality of school teachers, which a new report says is one of the most important factors in boosting economic productivity, depends almost entirely on the ability to measure their competence, education experts say.

Page 4: The federal government has rejected demands by Labor and the Greens for an independent inquiry into historical rape allegations levelled against senior frontbencher Christian Porter after he discontinued his defamation action against the ABC.

Page 8: The Reserve Bank of Australia has warned it is monitoring lending to property investors, as borrowing by real estate speculators picks up and residential housing construction booms.

Page 10: Funds under management in the retail super sector have barely increased in 2 1/2 years, according to data from the prudential regulator, as for-profit super funds struggle to recover from accusations of misconduct levelled against them during the Hayne royal commission.

Page 13: A $700 million oil and gas exploration group chaired by Future Fund guardian John Poynton and National COVID-19 Commission boss Nev Power was one of five fossil fuel firms warned by the corporate regulator they risked breaking the law because of nondisclosure of climate change risks.

Page 16: Magellan chief executive Brett Cairns says the $110 billion investment firm’s new fund, FuturePay, is designed to help people maintain a regular income even if sharemarkets tumble.

Page 17: AGL Energy chief financial officer Damien Nicks has told retail shareholders the proposed split of the energy business will be structured as a full demerger, and they will be issued shares in two companies, both with ‘‘compelling growth’’.

Page 19: The lobby group representing Western Australia’s mining and oil and gas giants says new Aboriginal heritage laws in the state cannot include a power of veto for traditional owner groups because it is too great a threat to the economy.

Nine Entertainment should funnel cash from content deals with the tech giants back into the business to generate long-term growth and not be concerned about returning it to shareholders, a major shareholder of the ASX-listed company says.

Andrew Forrest is promising to develop a future-metals hub with capacity to produce battery materials in Canada as he faces resistance to a takeover bid for nickel play Noront Resources.

 

 

The Australian

Page 1: Victoria is preparing to extend its economically damaging seven day lockdown by up to another week, as the nation’s top two economic officials warn that virus outbreaks represent the biggest risk to the national recovery and are urging Australians to get vaccinated.

Page 4: Labor’s division on gas has erupted in a meeting of federal MPs, with Left faction members opposing taxpayer support to open up supply from the Beetaloo Basin in the Northern Territory.

Anthony Albanese will accuse Scott Morrison of “prioritising his domestic political interests over Australia’s national interests” and warn mining chiefs the federal government has no long-term strategy to deal with a more assertive China.

Page 13: The barrelling housing market has hit new heights, driven by the strong performance of Sydney houses which are running at their hottest pace in three decades.

Fears are growing that Beijing’s ban on Australian coal may remain in place for several years with 15 ships carrying $440 million of supplies from Queensland mines remaining stranded off the coast of China, a year after the trade stand-off first began.

Page 14: Major buyout funds including Kohlberg Kravis Roberts, TPG Capital and BGH Capital are believed to be considering an acquisition of Perfection Fresh, the Smorgon family-backed fruit and vegetable grower.

Page 16: McDonald’s Australia chief executive and managing director Andrew Gregory says the fast food chain is planning to open as many as 40 new restaurants annually in the coming years, as the franchise seeks to fast-track its local growth.

Page 21: Chinese students contemplating postgraduate study overseas still hold a positive view of Australia, although their willingness and choice to study abroad is influenced by bilateral relations and Covid-19-related issues, according to a recent survey.

 

 

The West Australian

Page 3: Allegations that child athletes were verbally and physically abused while training as elite gymnasts at the WA Institute of Sport will be investigated by Sports Integrity Australia.

Page 5: Mark McGowan will join Anthony Albanese and the Federal Labor team at Port Hedland for a meeting of the shadow cabinet this month.

The Morrison Government will have a high-level ministerial meeting tonight to discuss its policy direction on net zero emissions.

Page 7: Almost three-quarters of West Australians want people vaccinated against COVID-19 to be exempt from interstate border closures, according to a new poll.

Mark McGowan believes WA will “eventually” have to consider mandatory vaccinations for aged-care workers with the topic set to dominate Friday’s meeting of National Cabinet.

Page 14: More than 100 West Australians were plunged into homelessness in the first month after the State’s rental eviction moratorium was lifted.

Page 17: Lowering cholesterol in prostate cancer patients could help prevent or even stop the spread of the disease, Australian scientists have discovered.

Business: Weakening sentiment towards gold drove a 3 per cent dip in mineral exploration spending in WA in the March quarter after 12 months of growth.

About 56,000 Australians have lost their jobs in the month since JobKeeper was cut off, Federal Treasury has revealed.

The owners of Bocelli Espresso have vowed to fight the City of Perth in Forrest Place and in court after a top bureaucrat threatened to seize control of the landmark cafe next week.

WA’s first vertical farm will celebrate its inaugural harvest next week, coinciding with a capital raising by the Perth-based startup to fund a major expansion across Australia and the Asia Pacific region.

The corporate regulator wants activist short sellers to scrap inflammatory language and air their critiques of Australian listed companies outside trading hours under new, sometimes optimistic guidelines aimed at better protecting investors.

Increasing access to venture capital will be key to fuelling the next phase of growth for Indigenous startups, industry experts say.

Aerospace giant Boeing has hooked up with another WA drone company, agreeing on a potential partnership with float hopeful Innovaero amid a growing take-up of unmanned aircraft systems around the world.

Shares in MetalsTech jumped after the company unveiled thick, bonanza-grade intersections at its Sturec gold project in Slovakia.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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