08/07/2021 - 06:46

Morning Headlines

08/07/2021 - 06:46

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Allegations spur BHP to review job checks

BHP is reviewing its policy on background checks for new employees after a series of reports of sexual assault allegations at its remote mining camps, with a view to expand criminal checks across the business. The West

McGowan: NSW must ‘kill’ virus

Mark McGowan has warned of a permanent hard border with NSW if the State fails to “crush and kill” COVID-19 and instead opts to allow the virus to circulate before most Australians have been vaccinated. The West

Stokes’ bargain of the decade outfoxes Boral board

West Australian billionaire Kerry Stokes is in the middle of pulling off the ‘‘bargain of the decade’’ with his purchase of effective control of building and construction products group Boral. The Fin

NAB sticks to 2024 for first RBA rate rise

National Australia Bank is bucking the big four bank trend, forecasting that the Reserve Bank will not lift interest rates before 2024, despite the central bank saying the economy was bouncing back stronger than expected. The Fin

Iron price heralds dividend bonanza

The world’s top miners are set to deliver a $US26bn ($34.6bn) dividend bonanza this earnings season on the back of surging prices across a broad suite of commodities. The Aus

Forget old money, we need more young, skilled migrants: Grattan

A crash in overseas arrivals during the coronavirus pandemic should be used to overhaul the migration program to target young, skilled, English-speaking migrants, the Grattan Institute says. The Fin

Crucial first step in State’s quarantine hub weeks away

A feasibility study of WA’s purpose-built quarantine facility will be completed “within the next few weeks”, with the decision between Perth and Jandakot airports to be influenced by which can be made ready sooner. The West

Carbon offset prices reach record level as demand grows

Prices for Australian carbon offsets have reached $20 a tonne for the first time since the carbon price was revoked in mid-2014 and further gains are expected, as financial players enter the market even in the absence of a formal net zero emissions target. The Fin

18,000 jobs on the line as border closures sink cruises

Major cruise line Royal Caribbean has cancelled the majority of its summer voyages around Australia and New Zealand as ongoing border closures deal another cut to an industry that once contributed billions of dollars to the economy. The Aus

Woodside ups explorer stake

Woodside Petroleum has finalised acquiring the entire participating interest of Australian explorer FAR in the $5.5 billion Sangomar joint venture oil project in Senegal. The West

 

 

The Australian Financial Review

Page 1: West Australian billionaire Kerry Stokes is in the middle of pulling off the ‘‘bargain of the decade’’ with his purchase of effective control of building and construction products group Boral.

Page 2: Guy Debelle is in the box seat to be become the next governor of the Reserve Bank of Australia as soon as 2023, after being reappointed deputy governor by the federal government.

Page 6: CBD office towers and other high-volume workplaces should be targeted to accelerate the sluggish COVID-19 vaccine rollout, according to medical logistics expert Glenn Keys.

Page 8: National Australia Bank is bucking the big four bank trend, forecasting that the Reserve Bank will not lift interest rates before 2024, despite the central bank saying the economy was bouncing back stronger than expected.

A crash in overseas arrivals during the coronavirus pandemic should be used to overhaul the migration program to target young, skilled, English-speaking migrants, the Grattan Institute says.

Page 9: The coronavirus crisis may have accelerated the destruction of jobs predicted by automation by hitting the most vulnerable occupations the hardest, new research suggests.

Page 14: US gaming giant Scientific Games is thinking about Australia as a potential location for a $5 billion-plus initial public offering of its global lotteries business.

Page 15: The administrators of Onthego are considering pursuing Wesfarmers for more than $500,000 allegedly owed as part of its joint venture agreement with the online custom apparel and merchandise company.

Page 16: Prices for Australian carbon offsets have reached $20 a tonne for the first time since the carbon price was revoked in mid-2014 and further gains are expected, as financial players enter the market even in the absence of a formal net zero emissions target.

Page 18: The shareholders backing a merger of Australia’s three payment systems including Commonwealth Bank and supermarket giant Woolworths say concerns consolidation will lessen competition are not founded and have argued that it is essential to the survival of eftpos.

Page 20: Investors and industry insiders are not convinced News Corp-controlled Foxtel can pull off a float on the ASX, but they say now is the time to try to ‘‘thread a very tough needle’’ as the streaming market booms.

 

 

The Australian

Page 1: The nation’s peak group for mathematicians has dramatically withdrawn its support for proposed changes to the school curriculum, arguing that a push towards having students learn maths by engaging in problem-solving activities would amount to an erosion of standards.

Page 2: The president of the West Australian Children’s Court, Hylton Quail, is preparing for a lengthy legal battle with one of his own magistrates who accused him of acting outside his mandate by trying to remove her from the court.

Page 3: A majority of Australia’s capital city residential housing markets are growing at a pace faster than the global average, according to new data from Knight Frank.

Page 5: Australia’s exporters are in the grips of a crippling double crisis as airfreight capacity evaporates at the same time as containerised shipping services fall well short of demand.

Page 13: Major cruise line Royal Caribbean has cancelled the majority of its summer voyages around Australia and New Zealand as ongoing border closures deal another cut to an industry that once contributed billions of dollars to the economy.

Page 16: The world’s top miners are set to deliver a $US26bn ($34.6bn) dividend bonanza this earnings season on the back of surging prices across a broad suite of commodities.

BCI Minerals’ $900m Pilbara salt project is another step closer to reality, with the company winning the tick from WA’s environmental authorities for the biggest salt export project in the country.

Page 18: Funds manager Australian Unity is considering a merger of its main listed office fund and its unlisted diversified fund that could create a $1.2bn vehicle, as it chalked up a court win in defence of its main healthcare vehicle.

 

 

The West Australian

Page 1: Mark McGowan has warned of a permanent hard border with NSW if the State fails to “crush and kill” COVID-19 and instead opts to allow the virus to circulate before most Australians have been vaccinated.

Page 3: Mine workers who have been sexually assaulted will be able to tell their stories behind closed doors at a parliamentary inquiry into harassment next month.

Page 5: A feasibility study of WA’s purpose-built quarantine facility will be completed “within the next few weeks”, with the decision between Perth and Jandakot airports to be influenced by which can be made ready sooner.

Page 7: Federal MP Christian Porter has weighed in on the City of Perth’s decision to abandon a deal to build a pool at the WACA — labelling it “extremely disappointing and short-sighted”.

Page 8: Defence will undergo a root-and-branch review of its full impact on the lives of serving and retired personnel in an attempt to end the scourge of veterans dying by their own hand.

Telstra will spend $25 million on refunds for almost 50,000 customers after it failed to notify them of slower than promised NBN speeds, according to a Federal Government report.

Page 10: Elevating the city’s beautiful beaches to the “iconic level of Bondi and Copacabana” is among dozens of ideas that will be pitched when tomorrow’s Brand Perth summit meets to chart the future direction of the State’s capital.

Business: BHP is reviewing its policy on background checks for new employees after a series of reports of sexual assault allegations at its remote mining camps, with a view to expand criminal checks across the business.

Creditors of the privately owned Adaman Resources have approved the sale of the Kirkalocka goldmine near Mt Magnet to director Mark Rowsthorn’s Rivet mining services group, subject to a legal challenge.

Aboriginal business owners want the world to know they are “still here” sharing their stories and culture during the pandemic, which has forced Indigenous and non-Indigenous tourism operators alike to scale back or shut down their operations.

A first return to investors in Chris Marco’s suspected Ponzi scheme has been delayed until next year as liquidators mull how to distribute $20 million-plus raised from the sale of property, cars and shares.

Woodside Petroleum has finalised acquiring the entire participating interest of Australian explorer FAR in the $5.5 billion Sangomar joint venture oil project in Senegal.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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