04/06/2021 - 06:59

Morning Headlines

04/06/2021 - 06:59

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Morning Headlines

29Metals opens IPO auction, bids at $2 to $2.40 a share

Copper miner 29Metals’ brokers have opened the books on the group’s proposed $528 million to $607 million initial public offering, and will seek to price the deal by lunchtime today. The Fin

Power play to open up electricity market

Pressure is mounting on the McGowan Government to open up the electricity market to make prices more competitive, with the State’s peak body for independent power providers saying businesses could use the support now. The West

Lockdown relief, with a catch

The federal government will implement a national payment scheme for workers affected by lockdowns, is set to sign off on a quarantine facility outside Melbourne, and wants the states to override medical advice and mandate the vaccination of aged care workers, all in response to the shortcomings exposed by the Victorian lockdown. The Fin

Not just China: trade hurdles hurt exporters

Australian exporters say they have weathered the pandemic and China trade tensions remarkably well but are hampered by a dearth of national competitiveness, skilled workers and growth-boosting economic reform. The Fin

Industry demands clarity on borders

The tourism, agriculture and education sectors are urging Scott Morrison to outline a plan to reopen the international border, warning the “costs of Australia’s isolation continue to multiply”. The Aus

Bunnings eyes acquisitions to lure the tradie dollar

Bunnings managing director Michael Schneider has unveiled plans to open as many as 75 trade tools stores in Australia and New Zealand over the next three to five years – starting in Western Australia this year – following its acquisition of Adelaide Tools almost two years ago. The Fin

Black Diamond fund takes a shine to Emeco

US-based hedge fund Black Diamond Capital Management is quietly gaining ground on the register of Australian listed mining services provider Emeco, prompting questions about whether it will soon move to take over the company. The Aus

Bishop’s Greensill gambit probe

The Attorney-General’s Department will seek additional information about Julie Bishop’s work for Greensill Capital after it emerged the former foreign minister directly approached Josh Frydenberg’s office and later Treasury on behalf of the collapsed financial services firm. The Aus

Westpac to assess $10bn NZ spin-off

Westpac’s board will this month assess a recommendation on whether to spin off its $10.3 billion New Zealand division to shareholders, as it pushes ahead with a broader divestment spree. The Aus

Salvos pay car rego to keep roof over people’s heads

The Salvation Army has resorted to paying car registrations for homeless West Australians so they have somewhere to sleep at night. The West

 

 

The Australian Financial Review

Page 1: The federal government will implement a national payment scheme for workers affected by lockdowns, is set to sign off on a quarantine facility outside Melbourne, and wants the states to override medical advice and mandate the vaccination of aged care workers, all in response to the shortcomings exposed by the Victorian lockdown.

Page 2: The government’s signature superannuation reform package passed the lower house yesterday evening, after a controversial power allowing the Treasurer to veto super fund investments was dumped due to objections by Nationals MP Barnaby Joyce and members of the crossbench.

Page 3: Australian exporters say they have weathered the pandemic and China trade tensions remarkably well but are hampered by a dearth of national competitiveness, skilled workers and growth-boosting economic reform.

Page 8: Record stamp duty revenues and a surge in home renovations are driving Australia’s economic recovery to a greater extent than any other time in almost two decades, raising the risk that growth could slow as the property market eventually cools.

Page 9: Taxpayers and businesses could be guaranteed an explanation of the reasons behind decisions taken by the Australian Taxation Office related to their tax bills – potentially a significant shift in the balance of rights in Australia’s self-assessment system.

Page 10: Interest in Australia as a study destination plummeted immediately following the federal budget announcement that borders were unlikely to fully reopen until next year, according to IDP Education’s Andrew Barkla.

Page 13: Crown Resorts has admitted its psychologists will not tell avowed gambling addicts to stop and leave Melbourne’s sprawling Southbank casino complex, and that its voluntary self-exclusion program presents ‘‘barriers’’ for those wanting to quit.

Page 16: On May 27, Tesla filed applications with the US Patent and Trademark Office to use its ‘‘T’’ logo design and two other iterations of its ‘‘Tesla’’ stylised logo for use in the food industry.

Page 18: Wesfarmers chief executive Rob Scott says the retail and industrial conglomerate would have to reassess its full-year profit expectations if Melbourne remains in lockdown.

Page 19: Copper miner 29Metals’ brokers have opened the books on the group’s proposed $528 million to $607 million initial public offering, and will seek to price the deal by lunchtime today.

Page 24: Bunnings managing director Michael Schneider has unveiled plans to open as many as 75 trade tools stores in Australia and New Zealand over the next three to five years – starting in Western Australia this year – following its acquisition of Adelaide Tools almost two years ago.

 

 

The Australian

Page 1: Scott Morrison will commit $200 million to the construction of a 500-bed Victorian quarantine facility at Avalon under a plan close to finalisation ahead of Friday’s national cabinet meeting.

The Attorney-General’s Department will seek additional information about Julie Bishop’s work for Greensill Capital after it emerged the former foreign minister directly approached Josh Frydenberg’s office and later Treasury on behalf of the collapsed financial services firm.

Page 4: The tourism, agriculture and education sectors are urging Scott Morrison to outline a plan to reopen the international border, warning the “costs of Australia’s isolation continue to multiply”.

Page 6: Boris Johnson will increase pressure on Scott Morrison to finalise interim and long-term climate change targets that would set Australia on a path to achieving net zero emissions before 2050.

Page 13: Westpac’s board will this month assess a recommendation on whether to spin off its $10.3 billion New Zealand division to shareholders, as it pushes ahead with a broader divestment spree.

The US has exported more LNG than Australia for the first time on record, marking a major new commodities rival and underscoring heightened competition among producers to win market share with Asian gas buyers.

Page 14: US-based hedge fund Black Diamond Capital Management is quietly gaining ground on the register of Australian listed mining services provider Emeco, prompting questions about whether it will soon move to take over the company.

Page 16: Climate Change Authority chairman Grant King has backed calls for Australia to consider nuclear power in its future energy mix, saying governments should avoid temptation to divide future energy supplies into “good fuels and bad fuels”.

 

 

The West Australian

Page 3: Mark McGowan’s former lieutenants pocketed payouts worth a combined $565,000 when they quit government after Labor’s re-election, it’s been revealed.

Page 6: An executive at one of WA’s biggest public hospitals has admitted what the State Government won’t — doctors have faced an unprecedented “crisis” this week.

Page 7: The Salvation Army has resorted to paying car registrations for homeless West Australians so they have somewhere to sleep at night.

Page 16: The water supplies of 37 remote Aboriginal communities in WA are contaminated by toxic pollutants such as uranium, nitrates and E Coli, a new audit has revealed.

Page 28: Besieged betting scheme promoter Chris Brown has not complied with court orders made requiring him to give his phones, electronic devices and business records to receivers hunting $126 million for creditors.

Page 76: Local councillors at a major regional centre are under fire for handing themselves a combined $10,000 payment after sacrificing part of their allowances last year.

Business: Pressure is mounting on the McGowan Government to open up the electricity market to make prices more competitive, with the State’s peak body for independent power providers saying businesses could use the support now.

WA’s booming construction sector is continuing to operate at near-record highs, led by growth in home building and engineering projects.

Lawyers for billionaire Andrew Forrest have argued a mythological water snake would not be harmed by building weirs on the Ashburton River on his Pilbara cattle station.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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