20/09/2021 - 07:00

Morning Headlines

20/09/2021 - 07:00

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Porter resigns from frontbench over issue of anonymous legal donors

Christian Porter has quit as a minister in the Morrison Government amid revelations he used mystery donors to pay for his legal fees in a lawsuit against the ABC. The West

Ore-some hit to WA finances

Mark McGowan’s predicted $2.8 billion Budget surplus for this year is already in serious doubt — just 10 days after the release of the State Budget. The West

WA edges closer to mandatory jab for resources

The West Australian government has signalled it is close to making vaccination mandatory for its resources industry workforce, adding momentum to a trend that has seen airlines and food processing companies adopt a compulsory policy. The Fin

Coal price boom softens blow from iron ore slump

Prices for Australian coking coal have surged to a record high on the back of a global shortage of the steel-making ingredient, cushioning the economic impact of a 57 per cent slump in prices for the nation’s top commodity export, iron ore. The Fin

Forrests join modern slavery fight

Fortescue founder Andrew Forrest’s Minderoo Foundation has taken an equity stake in a data and supply-chain mapping technology company that helps businesses pinpoint modern slavery exposures deep in their operations. The Fin

Research team to improve learning

Groundbreaking research will aim to identify the common gaps in Australian students’ key literacy and numeracy skills in a bid to boost education outcomes across the school system. The Aus

Mandurah answer to rent crisis

Perth’s record low rental vacancy rate is pushing tenants out to Mandurah, forcing many workers into a one-hour commute to the city. The West

Miners on notice: Moody’s

Mining companies that disregard their “social licence” to operate are facing not just community recoil but the growing concern of ethical investors, a leading credit agency has warned in a new report. The West

Investors steel for more price pain

Investors are bracing for another bruising session on the share market today after last week’s collapse of the iron ore price that wiped billions of dollars from the value of some of the Pilbara’s biggest players. The West

Call for fairer future

The number of Indigenous-owned businesses is growing in WA but experts warn there is still a long road ahead to ensure their opportunities are equal and sustainable. The West

 

 

The Australian Financial Review

Page 1: Australia plans to lease and share existing nuclear-powered submarines years before acquisition, narrowing a risk the American or British subs arrive too late to counter China’s rapid military expansion in the Indo-Pacific.

Prices for Australian coking coal have surged to a record high on the back of a global shortage of the steel-making ingredient, cushioning the economic impact of a 57 per cent slump in prices for the nation’s top commodity export, iron ore.

Page 3: Julie Bishop says she was not lobbying for Greensill Capital when she approached Treasurer Josh Frydenberg on behalf of the failed supply chain finance firm, telling a review she was only seeking a ‘‘one-way flow of information’’ from the government.

Page 8: The West Australian government has signalled it is close to making vaccination mandatory for its resources industry workforce, adding momentum to a trend that has seen airlines and food processing companies adopt a compulsory policy.

An additional $150 million will be announced today to bring to seven the number of ‘‘hydrogen hubs’’ being developed across regional Australia under the federal government’s $1.2 billion hydrogen energy push.

Page 10: The federal government will wait until next April’s French presidential election to finalise a European free trade deal and is betting on other European Union partners pressing Paris not to let its fury over the cancelled submarine contract spoil the trade pact.

Page 14: collapse in AGL Energy’s share price to 20-year lows and a surge in short positions in the stock have ramped up pressure on the board, as it seeks to avoid a ‘‘second strike’’ on renumeration at its annual shareholder meeting on Wednesday.

Page 16: Fortescue founder Andrew Forrest’s Minderoo Foundation has taken an equity stake in a data and supply-chain mapping technology company that helps businesses pinpoint modern slavery exposures deep in their operations.

Page 19: Peter Albert filled a gap for investors earlier this year when he led a collection of privately held copper assets onto the ASX under the banner of 29Metals, and, based on drilling results from last week, the company is fast filling another important gap.

 

 

The Australian

Page 1: Donald Trump has accused his former top medical adviser Anthony Fauci of staying silent in Oval Office meetings at the start of the Covid-19 pandemic about the risky research under way at the Wuhan Institute of Virology his agency had funded.

France is seeking to scuttle the proposed EU-Australia free trade agreement, asking fellow European nations to “reconsider” the deal in retaliation for the Morrison government cancelling the $90bn French submarine contract.

Page 3: Groundbreaking research will aim to identify the common gaps in Australian students’ key literacy and numeracy skills in a bid to boost education outcomes across the school system.

Page 5: International aircrews and airports will be subsidised by taxpayers until next April to support the restarting of overseas travel under the national reopening plan.

Australians who have had coronavirus are receiving conflicting advice about whether to wait six months before getting vaccinated, prompting concern from some that following ATAGI advice will see them barred from activities that are only open to the fully vaccinated.

Page 13: The nation’s leading retailers, from fashion and sporting goods to auto parts and furniture, have called on governments to provide a legal framework for shoppers to declare their vaccine status when walking into stores, as the chains seek more certainty about how to handle the prickly issue as shops reopen.

Moderna chief medical officer Paul Burton says the company can quickly pivot its Covid-19 vaccine to deal with rapidly evolving strains of coronavirus, as the highly contagious Delta variant infects hundreds of Australians each day, outrunning contract tracers in NSW and Victoria.

Page 15: Mars Wrigley, the family-owned confectionery, gum and pet food giant, will invest $30m at its Ballarat factory in central Victoria to advance its local manufacturing capabilities, laying down the infrastructure for future growth including using the facility to ramp up its exports to key markets in Asia.

Page 16: The peak body for insurers has accepted a 13-point plan in a bid to improve commercial affordability, including for the first time forming an advisory council to allow businesses to air their grievances.

 

 

The West Australian

Page 1: Christian Porter has quit as a minister in the Morrison Government amid revelations he used mystery donors to pay for his legal fees in a lawsuit against the ABC.

Page 3: Perth’s record low rental vacancy rate is pushing tenants out to Mandurah, forcing many workers into a one-hour commute to the city.

Page 11: The number of COVID-19 vaccines being jabbed into the arms of West Australians each day has fallen almost 20 per cent compared with a month ago.

Page 16: Scott Morrison and US President Joe Biden will now hold their first one-on-one meeting in New York rather than in the White House.

Page 22: Mark McGowan’s predicted $2.8 billion Budget surplus for this year is already in serious doubt — just 10 days after the release of the State Budget.

Business: Mining companies that disregard their “social licence” to operate are facing not just community recoil but the growing concern of ethical investors, a leading credit agency has warned in a new report.

China’s Evergrande Group has begun a process to repay investors in its overdue investment products with discounted properties.

Investors are bracing for another bruising session on the share market today after last week’s collapse of the iron ore price that wiped billions of dollars from the value of some of the Pilbara’s biggest players.

The number of Indigenous-owned businesses is growing in WA but experts warn there is still a long road ahead to ensure their opportunities are equal and sustainable.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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