18/06/2021 - 07:06

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18/06/2021 - 07:06

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Woodside’s Scarborough a done deal as O’Neill firms

Woodside Petroleum’s $16bn Scarborough gas project off Western Australia might still be awaiting the official green light, but momentum suggests it is close to a done deal as interim boss Meg O’Neill firms as the most likely bet to lead the company long-term. The Aus

Super reforms pass after veto dropped

The superannuation reforms passed Parliament yesterday, paving the way for the biggest shake-up of the super system in decades, after the government dropped a contentious measure separate to the package’s main goals of eradicating multiple accounts and putting underperforming funds on notice. The Fin

Minister highlights NW Shelf priority

The WA Government has backed the huge $US20.5 billion ($27b) Browse gas project to follow the Scarborough fields into production, despite a rapidly changing investment environment that is putting proposed new developments under increased scrutiny. The West

Rio Tinto port repairs a risk to iron ore targets

Rio Tinto is sticking to its guns on iron ore production as a shutdown of key port facilities on the West Australian coast drags into a second month. The Fin

Foreign agents able to access Covid app data

Foreign government agencies have had the ability to access data collected via Western Australia’s and Queensland’s Covid check-in apps, according to the terms and conditions of the mandatory systems. The Aus

Woolies brings forward minimum wage increase

Woolworths will pay staff this year’s minimum wage rise immediately despite the workplace tribunal delaying the increase for the retail sector to guard against the effects of future lockdowns. The Fin

Jobs surge: 2022 rate rise

More than 115,000 people found work in May, driving the jobless rate down to 5.1 per cent, the lowest level since the coronavirus pandemic began, leading futures markets to bring forward bets that interest rates would begin to rise in just over a year. The Fin

AstraZeneca risks spark Pfizer chase

Authorities are scrambling to shore up Australia’s supply of Pfizer COVID-19 vaccines and ward off community hesitancy, after the nation’s top immunisation experts recommended under-60s not get the AstraZeneca jab due to serious blood clot risks. The Fin

Coles pledges $300m lift in capex spending

Coles Group chief executive Steven Cain says a $300 million step-up in capital spending to $1.4 billion in 2021-22 as the company accelerates automation in distribution centres will be worth it because the food and liquor market is growing and no longer characterised by a ‘‘race to the bottom’’ in prices. The Fin

Tampia win for Ramelius

Ramelius Resources has overcome labour and equipment shortages in the WA mining sector to mine first ore from its $26.4 million Tampia gold project near Narembeen on time and budget. The West

 

 

The Australian Financial Review

Page 1: More than 115,000 people found work in May, driving the jobless rate down to 5.1 per cent, the lowest level since the coronavirus pandemic began, leading futures markets to bring forward bets that interest rates would begin to rise in just over a year.

Authorities are scrambling to shore up Australia’s supply of Pfizer COVID-19 vaccines and ward off community hesitancy, after the nation’s top immunisation experts recommended under-60s not get the AstraZeneca jab due to serious blood clot risks.

Page 2: Workers have not just a right to silence but also a limited right to lie when their employer is investigating their private activities, the workplace tribunal has ruled.

Page 3: The superannuation reforms passed Parliament yesterday, paving the way for the biggest shake-up of the super system in decades, after the government dropped a contentious measure separate to the package’s main goals of eradicating multiple accounts and putting underperforming funds on notice.

Page 5: Woolworths will pay staff this year’s minimum wage rise immediately despite the workplace tribunal delaying the increase for the retail sector to guard against the effects of future lockdowns.

Page 9: Scott Morrison’s aim to commit the Coalition to net zero emissions by 2050 has taken a hit, and Michael McCormack’s leadership is once more subject to speculation, after the Nationals strengthened their resolve to oppose net zero.

Page 16: BHP has given the strongest indication to date that it intends to build the long-talked-about Jansen potash mine in Canada’s Saskatchewan at a cost of up to $US5.7 billion ($7.4 billion) and has also left the door open to a partnership with major potash player Nutrien.

Coles Group chief executive Steven Cain says a $300 million step-up in capital spending to $1.4 billion in 2021-22 as the company accelerates automation in distribution centres will be worth it because the food and liquor market is growing and no longer characterised by a ‘‘race to the bottom’’ in prices.

Page 18: Seven West Media is pushing a message of renewed confidence as it sends strong signals that it is exiting its ‘‘near-death experience’’ and shareholder Spheria Asset Management suggests the company could be a target for acquisition should its share price not improve.

Page 21: Australia’s six top regulators are examining the impact of private stablecoins – crypto assets whose value is linked to fiat currencies to reduce volatility – to assess systemic risks should lots of consumers decide to adopt them.

Page 23: Rio Tinto is sticking to its guns on iron ore production as a shutdown of key port facilities on the West Australian coast drags into a second month.

 

 

The Australian

Page 3: A major outage took down banking apps and online services on Thursday, with the Commonwealth Bank, ANZ and Westpac reporting significant issues.

Page 4: Australia’s global competitiveness has slumped to its lowest level in 25 years because of plodding business leadership, high tax rates and a lack of innovation, according to an international review of economic attitudes and conditions.

Page 6: Foreign government agencies have had the ability to access data collected via Western Australia’s and Queensland’s Covid check-in apps, according to the terms and conditions of the mandatory systems.

Page 13: Australian business will face increasing international pressure to come clean on plans to lower carbon emissions in order to attract investors and grow exports, Australia’s top financial regulator has warned.

Page 14: Woodside Petroleum’s $16bn Scarborough gas project off Western Australia might still be awaiting the official green light, but momentum suggests it is close to a done deal as interim boss Meg O’Neill firms as the most likely bet to lead the company long-term.

Page 17: Deloitte Australia has defied the economic impacts of the Covid-19 pandemic to lift its profits while overseeing the nation’s largest graduate intake and building a strong pipeline of work – but newly installed CEO Adam Powick says labour shortages caused by the nation’s border policy are affecting both the firm and the economy.

 

 

The West Australian

Page 5: Doctors at Margaret River’s main hospital have revealed they rely on a “phone a friend” system for back-up during out-of-hours medical emergencies.

Page 6: West Australians in their 50s will now be offered the Pfizer vaccine after an increase in the prevalence of AstraZeneca-linked blood clots led to revised advice from the nation’s expert immunisation panel.

Page 7: Mark McGowan is set to receive fresh health advice about whether WA’s remaining COVID restrictions can be lifted, almost a year after the move to Phase 5 was shelved.

Page 28: WA’s jobless rate has fallen to a near eight-year low with the Australian economy “roaring back” from the pandemic, Federal Treasurer Josh Frydenberg says.

Page 98: Teachers at WA’s top-ranked school have taken the highly unusual step of writing to Education Department boss Lisa Rodgers demanding she release the results of a survey into workplace culture that was conducted eight months ago at Perth Modern School.

Business: The WA Government has backed the huge $US20.5 billion ($27b) Browse gas project to follow the Scarborough fields into production, despite a rapidly changing investment environment that is putting proposed new developments under increased scrutiny.

Mining and resources giants are tipped to be the next key players in WA’s startup scene, with the majors looking at internal venture capital funds.

Prominent Australian businesswomen are calling for boards to treat sexual harassment policies and incidents with the same gravitas as they do safety breaches, saying directors need to be more proactive in stamping out unacceptable behaviour.

Virgin Australia — which was on the brink of extinction just 14 months ago — is increasingly emerging as a strong rival to Qantas, the latest figures from the competition watchdog show.

Chairman Tony Sage has confirmed his mining hopeful European Lithium copped a $250,000-plus fine from Austria’s Financial Market Authority.

Ramelius Resources has overcome labour and equipment shortages in the WA mining sector to mine first ore from its $26.4 million Tampia gold project near Narembeen on time and budget.

 

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