17/06/2021 - 07:12

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17/06/2021 - 07:12

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Meltdown puts bawl in Clive’s court

Mining magnate Clive Palmer has broken down crying in the High Court declaring the WA Government has “come for me” by introducing a law aimed at stopping him suing the State for more than $30 billion. The West

WA business calls for calm on China

Western Australia’s business chamber has called for a consistent approach towards China by the state and federal governments amid a series of blistering exchanges between Premier Mark McGowan and the Morrison government over how to handle the relationship with Beijing. The Fin

Perth group signs $250m lithium deal

Chinese battery metals giant Jiangxi Ganfeng will fork out more than $250 million for a 50 per cent stake in a lithium project controlled by a Perth-based company that was worth $15 million less than a year ago. The Fin

Wage rise to cost jobs, slow growth

Employers are ‘‘gobsmacked’’ at the 2.5 per cent increase in the minimum wage, despite winning a four-month delay for the hardest-hit sectors, warning it will slow down jobs growth and likely threaten the economic recovery. The Fin

WA’s new top doctor in COVID plea

The State Government should go against national guidelines and make the Pfizer COVID-19 vaccine available to West Australians in their 50s, the incoming president of the Australian Medical Association WA says. The West

Russia is coming: the latest threat to our LNG crown

Russia is poised to join Qatar and the US in launching a serious challenge to Australian LNG exporters in the prized market of north Asia, driving down LNG sale prices and posing an additional hurdle for investments in new multibillion-dollar projects. The Fin

McDonald’s still pushing for growth

The chief executive of McDonald’s Australia says the importance of drive-through, delivery and digital sales during the pandemic will see the group double down on suburban restaurants in its $600 million plan to open 100 stores over the next three years. The Fin

Oil and gas ‘precarious’ as net zero looms

Royal Dutch Shell’s top executive in Australia has taken a swipe at a Dutch court ruling that it must accelerate towards net zero carbon emissions amid warnings the oil and gas industry is in a precarious financial position heading into the energy transition. The Fin

Directors face climate scrutiny

A powerful investor group has started probing the credentials of non-executive directors serving on Australian energy companies, questioning whether stacking boards with oil and gas veterans was appropriate given escalating climate pressures. The Aus

Full toll of ‘overrun’ hospitals

Dozens of non-urgent surgeries have been cancelled in the fortnight since the State Government announced a slowdown in the face of hospitals being “overrun with patients”. The West

 

 

The Australian Financial Review

Page 1: Employers are ‘‘gobsmacked’’ at the 2.5 per cent increase in the minimum wage, despite winning a four-month delay for the hardest-hit sectors, warning it will slow down jobs growth and likely threaten the economic recovery.

Russia is poised to join Qatar and the US in launching a serious challenge to Australian LNG exporters in the prized market of north Asia, driving down LNG sale prices and posing an additional hurdle for investments in new multibillion-dollar projects.

Page 3: Oil Search’s purchase of a minority interest in a Papua New Guinean gas field for almost four times the price paid by one of its partners will be the focus of a royal commission charged with investigating a failed loan extended to the Pacific nation by investment bank UBS.

The chief executive of McDonald’s Australia says the importance of drive-through, delivery and digital sales during the pandemic will see the group double down on suburban restaurants in its $600 million plan to open 100 stores over the next three years.

Page 4: Western Australia’s business chamber has called for a consistent approach towards China by the state and federal governments amid a series of blistering exchanges between Premier Mark McGowan and the Morrison government over how to handle the relationship with Beijing.

Page 8: Twenty-somethings have put working in London back on their agendas after the UK-Australia trade deal extended the age limit for working holiday visas to 35, up from 30.

Page 9: Trade unions have slammed a government proposal for an agricultural visa scheme drawing from 10 south-east Asian countries, saying it will entrench the exploitation of low-paid workers.

Page 14: China has stepped up its campaign to rein in raw materials prices by expanding its oversight of commodities trading by state firms to overseas markets, and pledging to release the nation’s reserves of base metals.

Page 17: Royal Dutch Shell’s top executive in Australia has taken a swipe at a Dutch court ruling that it must accelerate towards net zero carbon emissions amid warnings the oil and gas industry is in a precarious financial position heading into the energy transition.

The chief executive of Australia’s biggest beer business says the zero alcohol beer segment is growing faster than any other category and easily outstripping the 8 to 9 per cent growth of craft beers, as the company tries to offset a flat mainstream beer market.

Page 19: Vitable, an online business that sells personalised packs of vitamins direct to consumers, raised $5.5 million from investors including Rocket Internet, which helped build The Iconic into an online fashion powerhouse.

Page 20: A Beijing-based conglomerate backed by one of China’s richest men has lobbed a low-ball offer for a Myanmar-focused Australian mining group backed by Financial Review Rich Lister Mark Creasy.

Chinese battery metals giant Jiangxi Ganfeng will fork out more than $250 million for a 50 per cent stake in a lithium project controlled by a Perth-based company that was worth $15 million less than a year ago.

 

 

The Australian

Page 1: The Fair Work Commission has warned that more lockdowns and the pace of the vaccine rollout are risks to the economic recovery, as it awarded an $18.80-a-week minimum wage rise, but delayed the increase by up to four months for workers in Covid-impacted industries.

Attorney-General Michaelia Cash is to bring a major rewrite of the contentious Religious Discrimination Bill to parliament by December, sparking new debate over faith-based and gay rights before the next election.

Page 2: Average incomes would have been $11,500 higher last year had growth continued at its post-reform era trajectory, the Productivity Commission found, in the wake of the worst decade for living standards growth in 60 years.

Page 3: Revelations that West Australian police were using Covid-19 check-in data as part of their investigations have raised questions over the integrity of other registration systems around the country.

Page 4: John Howard has welcomed the post-Brexit symbolism of the new free-trade pact with Britain but warned it must be kept in perspective and that Australia must not lose sight of the importance of the resources trade with Asia.

Scott Morrison “took every opportunity” at the world leaders’ meeting in Cornwall to defend Australia’s climate change policy, basing his argument on an analysis showing that every G7 member was lagging behind Australia by three to five times on the way to reaching their 2030 carbon emissions reduction targets.

Page 5: The commonwealth has spent less than $20m on disaster payments to workers in Melbourne who lost income during the second week of the state’s latest lockdown, Services Australia data reveals.

Major cruise line Cunard has cancelled its campaign of summer voyages around Australia as ongoing international border closures deal another blow to the struggling tourism industry.

Papua New Guinea faces the prospect of having to throw out tens of thousands of Covid jabs delivered to the country by the World Health Organisation, with half their shelf life already gone.

Page 7: Researchers have developed the first antibody drug that could treat brain cancer, with the therapy able to cross the blood-brain barrier in a major feat for science.

Page 13: A powerful investor group has started probing the credentials of non-executive directors serving on Australian energy companies, questioning whether stacking boards with oil and gas veterans was appropriate given escalating climate pressures.

Page 15: Japanese beverage giant Asahi has given the blessing for its Australian arm to push the accelerator on growth, whether by acquisition or further investment in its manufacturing capabilities, with local chief executive Robert Iervasi enthusiastically taking up the challenge to extend his drinks portfolio across the sector.

 

 

The West Australian

Page 1: The State Government should go against national guidelines and make the Pfizer COVID-19 vaccine available to West Australians in their 50s, the incoming president of the Australian Medical Association WA says.

Page 4: Dozens of non-urgent surgeries have been cancelled in the fortnight since the State Government announced a slowdown in the face of hospitals being “overrun with patients”.

West Australians who have visited more than a dozen exposure sites in NSW linked to two Sydney COVID cases are being urged to isolate for 14 days.

Page 5: The SafeWA check-in data of “hundreds if not thousands” of West Australians was likely accessed by police looking for witnesses to the public assassination of former Rebels bikie Nick Martin.

Page 7: The passage of long-awaited Aboriginal heritage legislation could be delayed further amid growing opposition to the draft Bill from Indigenous groups.

Page 9: Families are putting off having more children because of the high cost of child care, a study has found.

Thousands of farm workers from across South-East Asia are being called on to help fill critical workforce shortages, with plans for a new agricultural visa to get them here.

Page 11: Mining magnate Clive Palmer has broken down crying in the High Court declaring the WA Government has “come for me” by introducing a law aimed at stopping him suing the State for more than $30 billion.

Mark McGowan is “drunk on power”, Opposition Leader Mia Davies has warned, slamming the Government’s bid to reinstall John McKechnie as WA’s Corruption and Crime Commissioner.

Page 18: He’s one of the greatest soccer players of all time, with nearly 300 million fans on Instagram alone, so when Cristiano Ronaldo snubs your product, you know you’ve got a problem.

Page 53: The McGowan Government’s targeted voluntary separation scheme has saved just 7 per cent of what it promised in 2018 and ended up hiring double the amount of people it made redundant.

Business: Australia’s oil and gas sector has been warned that a diminishing pool of top young talent and outdated boards could hinder its transition to clean energy and endanger projects.

Australian Trade Minister Dan Tehan said the Government is bolstering its legal arguments before potentially asking the World Trade Organisation to resolve its wine-tariff trade dispute with China.

Austria’s Financial Market Authority has hit Tony Sage’s European Lithium with a $250,000-plus fine for what it described as a breach of market manipulation rules.

The historic free trade deal between Britain and Australia is expected to provide a big boost for WA agriculture and could revive local industries previously impacted by tariffs.

Investor appetite for nickel remains strong after Lunnon Metals enjoyed a solid ASX debut, listing at a 42 per cent premium to its issue price.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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