08/09/2021 - 07:03

Morning Headlines

08/09/2021 - 07:03

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RBA: Economy to bounce back

The Reserve Bank of Australia expects the economy to ‘‘bounce back’’ from virus lockdowns as vaccination rates rise and as governments ease health restrictions, giving the central bank confidence to begin dialling back its $200 billion bond-buying stimulus. The Fin

China iron ore demand likely to cool again

China’s iron ore imports rose for the first time in five months in August, but analysts say the bounce in demand for Australia’s most valuable export commodity will prove short-lived. The Fin

Qantas boss: mandate jab or go under

Qantas is handing out 15 million frequent-flyer points a day as part of a program to encourage COVID-19 vaccine uptake and chief executive Alan Joyce says it has issued 220 million points since August 23. The Fin

Rapid test hubs for essential transport

Scott Morrison will accelerate the shift to home quarantine and potentially shorter isolation periods, integrating QR codes and vaccination certificates and lifting caps on international arrivals to implement the national reopening plan when states and territories hit vaccine thresholds. The Aus

West’s iron ore billions to reignite GST brawl

Western Australia’s recordbreaking $5bn budget surplus is set to reignite debate over the federal government’s GST redistribution, with billions that would have previously flowed to other jurisdictions earmarked for a state already awash with cash. The Aus

APPEA pans Government resources strategy

The peak body for the oil and gas industry has panned a resources strategy document released by the State Government, describing it as a “missed opportunity”. The West

Telstra infrastructure assets could be worth $30bn, say JPMorgan analysts

The infrastructure assets owned by Telstra could be worth close to $30bn, according to JPMorgan analysts, as many in the market bet that more will be put up for sale by the nation’s largest telecommunications provider. The Aus

Short end of the jab

The Commonwealth says the WA Government has “under ordered” its allocation of the AstraZeneca vaccine, as Mark McGowan called for COVID-free States to be given their “rightful share” of Pfizer doses. The West

Boost for mining R&D

The State Government has announced a $6 million funding boost for the Minerals Research Institute of WA over the next four years as part of its 2021-22 Budget to be handed down tomorrow. The West

 

 

The Australian Financial Review

Page 1: The Reserve Bank of Australia expects the economy to ‘‘bounce back’’ from virus lockdowns as vaccination rates rise and as governments ease health restrictions, giving the central bank confidence to begin dialling back its $200 billion bond-buying stimulus.

The construction union has blasted the appointment of former federal treasurer Wayne Swan as the chairman of its industry superannuation fund Cbus, calling it an ‘‘insult to construction workers’’.

Page 4: The federal government has accused the Labor states of stage managing a fight over the vaccine rollout after they claimed NSW was receiving preferential treatment under a ‘‘secret deal’’, and demanded hundreds of thousands of extra doses as payback.

Page 10: The three-person disputes panel to oversee Australia’s World Trade Organisation challenge to China’s punitive tariffs on barley has been formally established.

Page 11: China’s iron ore imports rose for the first time in five months in August, but analysts say the bounce in demand for Australia’s most valuable export commodity will prove short-lived.

Page 13: Avenue Bank, backed by Sherman Ma’s Liberty Financial Group, has received the prudential regulator’s approval to offer short-term working capital finance to small businesses overlooked by the major banks, in a market set to exceed $20 billion in a few years.

Allianz will pay a $1.5 million penalty after engaging in misleading and deceptive conduct but is facing a much larger bill when it fronts the court for criminal charges over similar conduct.

Page 14: Fuel company Ampol has signalled it’s thinking seriously about jumping into electricity markets, calling in the bankers to help run the numbers on Meridian Energy’s up-for-sale gentailer.

Page 15: An interactive games company for households that describes itself as ‘‘Netflix for games night’’ is raising up to $10 million in an initial step towards an eventual listing on the stock exchange in the United States.

Qantas is handing out 15 million frequent-flyer points a day as part of a program to encourage COVID-19 vaccine uptake and chief executive Alan Joyce says it has issued 220 million points since August 23.

Page 16: The corporate watchdog has granted a concession to large financial institutions as part of tough new breach reporting laws, allowing companies to file multiple reports in a single batch when the problem stems from a single cause.

 

 

The Australian

Page 1: Peter Dutton has signalled greater access to US missile technology will be a key test of the ANZUS alliance, ahead of an Australian push for unprecedented defence industry co-operation at high-level talks in Washington.

Western Australia’s record-breaking $5bn budget surplus is set to reignite debate over the federal government’s GST redistribution, with billions that would have previously flowed to other jurisdictions earmarked for a state already awash with cash.

Page 3: Foxtel has launched its “ultimate streaming machine”, with the iQ5 the company’s first set-top box that doesn’t require a satellite dish or cable installation.

Page 4: Employers and unions have urged national cabinet to back new vaccination and rapid antigen testing hubs for transport workers to slash the risk of transmission of the virus and stop supply chain interruptions as the economy reopens.

Scott Morrison will accelerate the shift to home quarantine and potentially shorter isolation periods, integrating QR codes and vaccination certificates and lifting caps on international arrivals to implement the national reopening plan when states and territories hit vaccine thresholds.

Page 8: Covid-19 rates are expected to spike in the coming weeks as children return to school across Britain and Europe, but despite high levels of virus circulating, the general mood is one of “we don’t care’’.

Page 13: Insurers have warned that Australia faces slower and far costlier recovery from natural catastrophes while state borders remain closed.

Page 14: The infrastructure assets owned by Telstra could be worth close to $30bn, according to JPMorgan analysts, as many in the market bet that more will be put up for sale by the nation’s largest telecommunications provider.

Page 15: Qantas has sought leave to appeal a Federal Court decision that ruled the airline’s outsourcing of 2000 ground-handling workers was motivated by a desire to avoid industrial action.

Page 16: Santos has pitched its $21bn merger with Oil Search as the deal that will allow it to fund a move to net zero emissions, describing climate pressures as the biggest challenge for the industry over the next decade.

 

 

The West Australian

Page 3: Fitness entrepreneur Vlado Bosanac has lost a major legal battle with the Australian Taxation Office over an unpaid $9 million bill after a court ruled he owns half of a Dalkeith mansion bought with his socialite former wife 15 years ago.

Page 4: The Commonwealth says the WA Government has “under ordered” its allocation of the AstraZeneca vaccine, as Mark McGowan called for COVID-free States to be given their “rightful share” of Pfizer doses.

Page 5: A majority of West Australians identify more strongly with their State than their country — placing Sandgropers firmly at odds with the rest of the nation.

Page 9: A former Fremantle Docker has given a startling insight into his WAFL preseason match bout of concussion as WA football administrators get set to reveal bold new plans to tackle the modern game’s biggest scourge.

Page 12: The tangled web woven by WA’s former casino chief Mick Connolly and his Crown Perth mates has been further exposed — with evidence he loosened rules around junket operators at exactly the same time he was planning a skydiving trip with his casino buddies.

Page 16: Former WA Police Union boss Harry Arnott, who was stood down in mysterious circumstances in February, is muscling his way back into the top job.

Business: BP’s Kwinana site could be transformed into a renewable energy hub under plans flagged by the oil and gas giant.

Australians are continuing to shun ATMs, with new official figures putting the value of cash withdrawals at their second-lowest on record.

The peak body for the oil and gas industry has panned a resources strategy document released by the State Government, describing it as a “missed opportunity”.

Andrew Forrest’s Wyloo Metals has called on the directors of Canadian takeover target Noront Resources to disclose the benefits they will receive by supporting a $C325 million ($350m) bid for the company by rival suitor BHP.

The State Government has announced a $6 million funding boost for the Minerals Research Institute of WA over the next four years as part of its 2021-22 Budget to be handed down tomorrow.

Recent oil and gas mega-deals announced by Woodside Petroleum and Santos will buy time for the two companies to reposition their businesses for a low-carbon future, according to a leading industry observer.

WA’s peak farm machinery body has warned continuing industrial action at Fremantle Port could leave farmers without muchneeded equipment for the approaching grain harvest.

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