03/09/2021 - 06:56

Morning Headlines

03/09/2021 - 06:56

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Legal rush to stymie grand final scalpers

The West Australian government is scrambling to enact legislation to limit the potential for ticket scalping ahead of an expected frenzy when AFL grand final tickets go on sale. The Aus

Regulator placed ‘excessive’ trust in Crown

Crown Resorts enjoyed “an excessive level of trust” from Western Australia’s gambling regulator that was “not as suspicious” as it should have been before the casino giant’s money-laundering scandal erupted, the royal commission in Perth has heard. The Aus

New analysis predicts sixfold rise in deaths despite 70% vax rate

Five or six West Australians will die of COVID-19 each day for six months if WA’s border opens to virus-infected States like NSW at 70 per cent vaccination, updated modelling presented to National Cabinet shows. The West

MinRes clinches West Pilbara iron ore deal

Mineral Resources boss Chris Ellison has ticked another box in his ambition to become a 90 million tonne per annum iron ore producer after shareholders of Red Hill Iron agreed to sell the company’s 40 per cent stake in the dormant West Pilbara project. The West

The 16 barriers to easy international travel

Any move towards resuming international travel in Australia will first need to address the extreme level of complexity now in place at airports, with no fewer than 16 processes for arriving passengers and even more for crew. The Aus

Private plan for Covid wave

State and territory health systems will withstand high Covid-19 case numbers with the support of private hospitals when lockdowns and restrictions ease under the national reopening plan, according to a report prepared for national cabinet. The Aus

BHP battling to avoid a credit downgrade

BHP chief financial officer David Lamont says the mining major is working with ratings agency S&P Global to avert a threat to downgrade its credit rating, declaring that the company was in the strongest financial position in its history. The Aus

ASIC enforcer’s warning to banks

The corporate regulator’s new chief enforcer says she is shocked at the obstructive and delaying tactics used by banks and has warned litigation will still be a significant part of her arsenal. The Fin

Back-to-back surpluses top $12b

Exports continued to outpace imports in July, boosting the trade surplus to a back-to-back record of $12.1 billion, with the value of goods shipped to China hitting a new peak despite Beijing’s trade sanctions. The Fin

NAB considers mandating Covid vaccinations

National Australia Bank says it might consider mandated vaccination as the Covid-19 situation “evolves”, after a staff survey found more than two-thirds of workers supported the initiative. The Aus

 

 

The Australian Financial Review

Page 1: The federal government and a majority of states will forge ahead with the national plan for a phased reopening from COVID-19 lockdowns, with or without Queensland, which has stepped up its opposition by claiming more than 2000 people would die every month.

The corporate regulator’s new chief enforcer says she is shocked at the obstructive and delaying tactics used by banks and has warned litigation will still be a significant part of her arsenal.

Page 3: Expenditure is running rampant at one of Australia’s 13 underperforming super funds, with financial statements showing spending at EISS Super has more than doubled over the past seven years while members have exited the industry fund.

Page 6: NSW has relaxed lockdown rules in Sydney hotspots after the state’s vaccination rollout hit 70 per cent of first doses and is considering further easing restrictions in those areas.

Page 10: Exports continued to outpace imports in July, boosting the trade surplus to a back-to-back record of $12.1 billion, with the value of goods shipped to China hitting a new peak despite Beijing’s trade sanctions.

Page 16: The $60 billion Rest Super had to resubmit data to the prudential regulator’s new performance test, which shifted the industry superannuation fund from a potentially failing position to a slight pass mark.

Page 18: Total assets overseen by ethical investment funds on behalf of Australian investors leapt 30 per cent in 2020 to be worth $1.28 trillion, accounting for 40¢ of every professionally managed dollar.

Financial intelligence regulator AUSTRAC has revealed some of the most common mistakes made by banks and other entities, while also revealing some dead giveaways your anti-money laundering and counter-terrorism programs are not up to scratch.

 

 

The Australian

Page 1: State and territory health systems will withstand high Covid-19 case numbers with the support of private hospitals when lockdowns and restrictions ease under the national reopening plan, according to a report prepared for national cabinet.

Page 2: Attorney-General Michaelia Cash is signalling new laws to fight discrimination against people of faith will not morph into a religious bill of rights, and warns some faith leaders their demands for wider protections for religious institutions are “constitutionally barred”.

Page 6: Australians refinanced a record $17.2bn in home loans in July, 60 per cent more than a year earlier, as borrowers shopped en masse for better deals and lower rates amid a hot property market.

Page 7: The West Australian government is scrambling to enact legislation to limit the potential for ticket scalping ahead of an expected frenzy when AFL grand final tickets go on sale.

Page 13: National Australia Bank says it might consider mandated vaccination as the Covid-19 situation “evolves”, after a staff survey found more than two-thirds of workers supported the initiative.

Page 15: Any move towards resuming international travel in Australia will first need to address the extreme level of complexity now in place at airports, with no fewer than 16 processes for arriving passengers and even more for crew.

Australia’s historic commodities export boom has extended into the current quarter, as soaring LNG, iron ore and coal sales pushed the trade surplus to a record $12.1bn in July.

Page 16: BHP chief financial officer David Lamont says the mining major is working with ratings agency S&P Global to avert a threat to downgrade its credit rating, declaring that the company was in the strongest financial position in its history.

Page 17: If you’re a Telstra customer – and get fully vaccinated – the telco will reward you with 2500 Telstra Plus Points – the equivalent of up to $25 in gifts – and enter you into a 100-million-point major prize draw, under a new plan by chief executive Andy Penn.

Page 18: Crown Resorts enjoyed “an excessive level of trust” from Western Australia’s gambling regulator that was “not as suspicious” as it should have been before the casino giant’s money-laundering scandal erupted, the royal commission in Perth has heard.

 

 

The West Australian

Page 6: Anybody working in WA’s public health system who refuses to be vaccinated against COVID-19 — from doctors and nurses to cleaners and gardeners — will be forced out of their job by the end of the year.

Five or six West Australians will die of COVID-19 each day for six months if WA’s border opens to virus-infected States like NSW at 70 per cent vaccination, updated modelling presented to National Cabinet shows.

Page 10: Shocking new figures reveal a marked deterioration in police response times, with about one in five callers reporting potentially violent crimes in the Perth, Armadale, Fremantle, Mandurah and Midland districts made to wait more than 12 minutes for officers to arrive.

Page 12: The “softly, softly” approach taken towards policing Crown Perth appears to be a thing of the past — with the new chair of the State’s gambling regulator admitting her predecessor put too much trust in the casino bosses.

Business: While big business continues to mull the pros and cons of mandating COVID-19 vaccination, WA’s pretzel queen Brittany Garbutt is going another way to protect a workforce barely old enough to be jabbed.

A Hill River sheep and cattle grazing property — once owned by philanthropist Stan Perron — is on the market and is expected to fetch up to $35 million.

Bellevue Gold boss Steve Parsons says he is confident the company can deliver its $252 million namesake project on budget despite labour and equipment cost pressures in the WA resources sector.

Mineral Resources boss Chris Ellison has ticked another box in his ambition to become a 90 million tonne per annum iron ore producer after shareholders of Red Hill Iron agreed to sell the company’s 40 per cent stake in the dormant West Pilbara project.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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