07/07/2021 - 07:02

Morning Headlines

07/07/2021 - 07:02

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WACA pool dead in the water after City pulls plug

The City of Perth council last night unanimously voted to walk away from a deal to deliver a new pool at the WACA ground — with even new WA Tourism chair Di Bain voting against the proposal. The West

Fortescue vindicated on hydrogen

Fortescue Metals Group says it has produced both green iron and green cement in trials that are part of the company’s ambitions to become a major player in green energy and at the same time slash carbon emissions from iron ore mining. The Fin

Empty flights cast an air of doom

International flights to Australia will be restricted to as few as five passengers and in some cases zero from next week, in a move likely to see more airlines cease operations Down Under. The Aus

HBF dials back share exposure

HBF is dialling back its investment risk again to recognise growing caution around fastrunning equity markets over the past year but does not see the crash feared by WA’s biggest investment fund. The West

274% rise in youth getting jab gives WA a shot

Lockdown and the threat of the virulent Delta variant have provided a much needed jolt to WA’s vaccination rollout, sparking a doubling in bookings in the space of a week — including thousands of under-30s unperturbed by the tiny risk of AstraZenecalinked blood clots. The West

Workplace jabs could kick off by September

Australians could be receiving COVID-19 vaccines in workplaces as soon as September or October, under a dramatic expansion of the national rollout being planned with business leaders. The Fin

NDIS ‘mugged by reality’ on rising costs, says economist

A leading economist has endorsed the Morrison government’s plans to introduce independent assessments of National Disability Insurance Scheme funding packages, saying the growing price tag is not sustainable. The Fin

Price gap may trigger wave of oil, gas M&A

Oil Search, Cooper Energy, Senex Energy and Carnarvon Petroleum could all become targets of a takeover as a gulf opens between robust oil and gas prices and the producers’ sickly share prices, JPMorgan analyst Mark Busuttil says. The Fin

Dire wait for child therapies

Perth parents are waiting longer than six months for their schoolage children to access speech pathology, occupational therapy and physiotherapy in the public health system, with referrals up 30 per cent on last year. The West

Peoples powerhouse sold to global giant

The bulk of the Little Peoples Place childcare empire — which has thrived since its launch in Perth about 15 years ago — is expected to be sold to global childcare group Busy Bees. The West

 

 

The Australian Financial Review

Page 1: The Reserve Bank of Australia has taken a first baby step towards unwinding its extraordinary $237 billion monetary stimulus, but signalled it will lag other central banks in lifting interest rates and that a move remains unlikely before 2024.

Billionaire retailer Solomon Lew has launched a new attack on Myer, calling on the entire board to resign after confirming he spent $16.4 million this week increasing his stake in the embattled department store group to at least 15.8 per cent.

Page 2: An industry fund-backed contractor for Telstra and Foxtel has folded in the face of a $400 million sham work claim, leaving hundreds of contractors without work and dozens of employees owed millions of dollars.

Page 3: Manufacturers are sounding the alarm as east coast gas prices surge to levels not seen since 2016, thanks to cold winter weather and gas having to be diverted to generate electricity after the breakdown of coal-fired generators.

Page 6: Australians could be receiving COVID-19 vaccines in workplaces as soon as September or October, under a dramatic expansion of the national rollout being planned with business leaders.

Pressure on vaccine supplies is expected to rise as new Israeli case data suggests Pfizer vaccine infection efficacy is falling dramatically against the delta variant, raising the need for booster shots.

Page 8: A leading economist has endorsed the Morrison government’s plans to introduce independent assessments of National Disability Insurance Scheme funding packages, saying the growing price tag is not sustainable.

The federal government was fully justified in denying universities access to JobKeeper in 2020, new analysis has found, but with income from international student fees drying up and more waves of redundancies likely, some universities could face financial collapse.

Page 9: The start of construction of the navy’s $44 billion new fleet of frigates is poised to be pushed back for up to 18 months after the Morrison government agreed to delay the project because of issues with the design.

Page 12: Oil Search, Cooper Energy, Senex Energy and Carnarvon Petroleum could all become targets of a takeover as a gulf opens between robust oil and gas prices and the producers’ sickly share prices, JP Morgan analyst Mark Busuttil says.

Page 14: Carnarvon Petroleum formed a joint venture to produce green diesel and is eyeing carbon offsets as it becomes the latest oil and gas player to seek to head off an escalation of climate pressures around its oil production plans.

Fortescue Metals Group says it has produced both green iron and green cement in trials that are part of the company’s ambitions to become a major player in green energy and at the same time slash carbon emissions from iron ore mining.

Page 15: Former Orica boss Alberto Calderon has predicted a bright future for gold as a store of value in a world where central banks keep ‘‘printing money like there is no tomorrow’’.

 

 

The Australian

Page 1: Foreign Minister Marise Payne has been asked to urgently green light a visa bid by a senior Afghan government official who faces a death sentence for helping Australian soldiers “every step of the way” during their mission in southern Afghanistan.

Page 2: Former ASIO chief Duncan Lewis has called on Australians to keep in perspective the threat posed by universities’ China research links, warning against “histrionics” that he believes don’t align with the national interest.

Page 4: International flights to Australia will be restricted to as few as five passengers and in some cases zero from next week, in a move likely to see more airlines cease operations Down Under.

Page 5: Managers consistently overrated their success in engaging with employees and recognising their value during the pandemic, resulting in a significant disconnect between the attitudes of managers and workers.

Page 7: Government MPs want an independent complaints body in Parliament House to be given the power to investigate alleged incidents from previous parliaments.

Australia’s largest equestrian organisation is under fire for failing to act on proposals to improve its Indigenous engagement, after its management described a plan to move the organisation in line with other sports’ Indigenous engagement targets as “left field”.

Page 13: Crown failed to inform its new chief executive Steve McCann that it may have underpaid more than $270m in taxes until June 7, reflecting a culture at James Packer-backed group where staff were afraid to escalate “bad news”, a royal commission has heard.

Page 14: AustralianSuper has hired Jefferies Australia as part of its efforts to pursue the $2bn portfolio of telecommunication towers owned by Singtel’s Optus.

Page 17: Telstra has been rapped over the knuckles for failing to properly notify almost 50,000 customers that they never could achieve the maximum speeds advertised in their internet plan with the NBN infrastructure available to them.

 

 

The West Australian

Page 1: Lockdown and the threat of the virulent Delta variant have provided a much needed jolt to WA’s vaccination rollout, sparking a doubling in bookings in the space of a week — including thousands of under-30s unperturbed by the tiny risk of AstraZeneca-linked blood clots.

The City of Perth council last night unanimously voted to walk away from a deal to deliver a new pool at the WACA ground — with even new WA Tourism chair Di Bain voting against the proposal.

Page 7: Selfish tourists are breaching remote Indigenous community closure laws in their attempt to get hold of COVID-19 vaccines meant for vulnerable Aboriginal residents in the Kimberley.

Page 18: A former Liberal MP at the centre of the latest workplace culture scandal at Parliament House has taken aim at embattled WA senator Linda Reynolds for “going underground” when she shared her claims of sexual harassment.

Page 20: Perth parents are waiting longer than six months for their school-age children to access speech pathology, occupational therapy and physiotherapy in the public health system, with referrals up 30 per cent on last year.

Business: HBF is dialling back its investment risk again to recognise growing caution around fast-running equity markets over the past year but does not see the crash feared by WA’s biggest investment fund.

The new Australia-based chief executive of AngloGold Ashanti says he will aim to restore the credibility of the underperforming South African gold giant by getting the basics right.

Look out Perth, an east coast chain is preparing to muscle into the booming local fast-food market to win a share of your burger bucks.

The Chinese owner of Balfour Downs Station has parked attempts to sell the cattle property — which was expected to fetch up to $40 million — after failing to attract the desired price.

The bulk of the Little Peoples Place childcare empire — which has thrived since its launch in Perth about 15 years ago — is expected to be sold to global childcare group Busy Bees.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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