05/08/2021 - 07:03

Morning Headlines

05/08/2021 - 07:03

Bookmark

Save articles for future reference.

Rinehart’s Roy Hill adds $3b to dividend party

Australia’s richest person Gina Rinehart has joined iron ore’s dividend party, taking home more than $1 billion for a three-month period as her Roy Hill operation aims to increase exports to 70 million tonnes per year. The Fin

Mitsui and Mitsubishi interested in Santos sale of Dorado

Santos is believed to have attracted Japanese trading companies such as Mitsui and Mitsubishi for the sales process of its Dorado project in Western Australia. The Aus

AAA ratings safe despite lockdowns

An economic contraction in the three months to September 30, a sluggish vaccine rollout and further lockdown stimulus has failed to dent Australia’s recently reattained ‘‘stable’’ AAA credit rating. The Fin

Double-dip casual pay thrown out

The High Court has bolstered the power of business to define employment by contract, overturning a landmark ‘‘double dipping’’ decision that meant regular casuals were entitled to paid leave and left businesses facing a potential $39 billion backpay bill. The Fin

Banks to offer staff inoculations at work

Commonwealth Bank and Westpac are pushing ahead with plans to vaccinate employees developed by the Australian Banking Association in conjunction with Australia’s seven largest banks, which could see some staff able to book a jab as soon as Monday. The Fin

Energy giants resist reform push

The chief executives of the nation’s biggest electricity companies have formed a high-level group to strike a united position on controversial energy reforms, thwarting irate renewables developers worried the changes will decimate investment in new supply. The Aus

Facebook starts rollout of news section in Australia

Facebook has begun to roll out its special news section to a small number of Australian users, featuring content from mostly larger local news outlets. The Fin

Don’t wait for Pfizer get AZ now

A group of the nation’s leading medical professionals has urged Australians not to wait for Pfizer and to get jabbed with Astra-Zeneca, as new Treasury modelling found that a lower vaccine take-up rate would wipe nearly $7bn off growth every three months. The Aus

Uranium’s Honeymoon plans are on again

The uranium industry is “on the cusp of recovery” after a long period of post-Fukushima depression, a mining executive says, predicting prices could “go ballistic” as the world re-embraces nuclear power in the push to mitigate climate change. The West

 

 

The Australian Financial Review

Page 1: The High Court has bolstered the power of business to define employment by contract, overturning a landmark ‘‘double dipping’’ decision that meant regular casuals were entitled to paid leave and left businesses facing a potential $39 billion backpay bill.

Page 2: Ousted Australia Post boss Christine Holgate has secured a ‘‘TattsLotto-sized’’ termination settlement over the Cartier watches saga, and leading employment lawyers are describing her $1.1 million payment as a landmark result.

Page 3: Crown Perth chief executive Lonnie Bossi has conceded key business decisions about the Perth casino are made by ASX-listed Crown Resorts rather than the casino giant’s local Burswood board, adding fuel to fire around the possible restructure or break up of Crown Resorts assets.

An economic contraction in the three months to September 30, a sluggish vaccine rollout and further lockdown stimulus has failed to dent Australia’s recently reattained ‘‘stable’’ AAA credit rating.

Page 4: Australia’s adult population should achieve a 70 per cent vaccination rate before Christmas, and while 80 per cent is also possible, getting there would require a ‘‘concerted effort’’, including the possible use of incentives, the military officer in charge of the rollout says.

Page 5: Commonwealth Bank and Westpac are pushing ahead with plans to vaccinate employees developed by the Australian Banking Association in conjunction with Australia’s seven largest banks, which could see some staff able to book a jab as soon as Monday.

Page 8: Scott Morrison will establish a $380 million reparations scheme for the Stolen Generation, months after survivors launched a class action.

Page 14: Australia’s richest person Gina Rinehart has joined iron ore’s dividend party, taking home more than $1 billion for a three-month period as her Roy Hill operation aims to increase exports to 70 million tonnes per year.

Page 18: Facebook has begun to roll out its special news section to a small number of Australian users, featuring content from mostly larger local news outlets.

Page 19: LNG’s share of Japan’s power generation mix is likely to grow rather than shrink this decade, in stark contrast to its ‘‘dream’’ energy plan for 2030, according to one of the world’s leading market analysts.

Woodside Petroleum has increased the cost estimate for its Scarborough gas project in Western Australia by 5 per cent to $US12 billion ($16.2 billion), a revision that has come as a relief to the market, which had feared a bigger escalation.

 

 

The Australian

Page 1: A group of the nation’s leading medical professionals has urged Australians not to wait for Pfizer and to get jabbed with Astra-Zeneca, as new Treasury modelling found that a lower vaccine take-up rate would wipe nearly $7bn off growth every three months.

Page 5: Targeted advertising campaigns and incentive programs for groups of Australians most hesitant to be vaccinated will be rolled out if the nation stalls on its plan to reach an inoculation rate of more than 80 per cent.

Page 6: The Productivity Commission will launch a major investigation into fake Indigenous arts and crafts, focusing on inauthentic souvenirs and other goods that the government believes damage Australia’s identity.

Page 9: The Chinese Communist Party has been accused of a massive “cover up” over the origins of Covid-19, with a US report arguing the virus leaked from a lab in Wuhan as early as September 2019 and was spread globally by infected international athletes.

Page 15: The chief executives of the nation’s biggest electricity companies have formed a high-level group to strike a united position on controversial energy reforms, thwarting irate renewables developers worried the changes will decimate investment in new supply.

Fruit and vegetable processor SPC has become the first Australian company outside of healthcare to mandate Covid-19 vaccines not only for its staff but anyone who enters its cannery – in an effort to eradicate lockdowns and catapult the country to some kind of normality.

Page 16: New York-based buyout fund Kohlberg Kravis Roberts is understood to have abandoned its pursuit of the $2bn Australian telecommunications tower portfolio up for sale through Singtel’s Optus.

Santos is believed to have attracted Japanese trading companies such as Mitsui and Mitsubishi for the sales process of its Dorado project in Western Australia.

Page 17: Falling demand for “click and fly” bookings has triggered a rethink by online travel sites negotiating the Covid pandemic, with one resorting to road trip planning.

Page 18: Rex Minerals aims to make a final investment decision on its controversial Hillside copper project on the Yorke Peninsula by the end of next year after raising $50m to progress mining studies.

 

 

The West Australian

Page 3: One in four Australian women giving birth is now over the age of 35 — with the numbers doubling over the past 20 years driven by career commitments and the desire for a stable income.

Page 4: The police union has vowed to fight any “discrimination” by the force’s top brass against unvaccinated officers.

Page 7: A week-long extension has been granted for public submissions to a WA parliamentary inquiry investigating sexual harassment in the mining sector.

Page 15: Schools are slugging parents for the privilege of attending their child’s Year 12 graduation ceremonies at swanky venues such as Perth Concert Hall or the University of WA’s Winthrop Hall.

Page 19: The “credit card scam” which allowed Asian gamblers to exchange up to $500,000 credit for gambling chips at Crown Melbourne had also been approved for use in Perth.

Business: Office vacancies in Perth’s CBD have plunged to the lowest level in six years, signalling the start of a recovery as workers return to the city.

Federal politicians say they can’t do much more to help WA grain growers get more workers for harvest until WA’s agriculture minister applies to use Commonwealth quarantine facilities.

Perth property investors are poised for strong capital gains in the next 18 months, on top of already strong yields and one of the country’s tightest rental markets.

The uranium industry is “on the cusp of recovery” after a long period of post-Fukushima depression, a mining executive says, predicting prices could “go ballistic” as the world re-embraces nuclear power in the push to mitigate climate change.

A Supreme Court judge has frozen the assets of a Mt Hawthorn financial adviser facing more than $1.7 million in claims from investors, including champion former basketballer Luc Longley.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options