22/09/2021 - 06:51

Morning Headlines

22/09/2021 - 06:51

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MinRes, Norwest strike big gas in the Perth Basin

Perth-based bigwig Mineral Resources appears to have found itself an interesting catch, this time in its newish energy unit and in a project it shares with ASX-listed Norwest Energy. The West

Infrastructure’s $25b virus shortfall

Australia’s huge economy-boosting infrastructure pipeline is being constrained by lockdowns, skill shortages and global supply constraints, leading to a potential $25 billion underspend nationally. The Fin

Bryah’s Star raises $5m

Bryah Resources’ gold spin-off Star Minerals has easily raised $5 million in an initial public offering ahead of its ASX listing next month. The West

New top venues set for Karrinyup

Big names in Perth’s hospitality industry are throwing their weight behind the multi-million dollar redevelopment of Karrinyup Shopping Centre, with 30 venues to open next month. The West

NDIS cost overrun could reach $75 billion a year

The National Disability Insurance Scheme risks blowing out to $75 billion a year in a decade and will overtake Commonwealth spending on aged care, Medicare and hospitals, Parliament’s independent budget watchdog has warned. The Fin

Subs row: EU mulls delay to trade deal

European Union foreign ministers met in New York on Monday (Tuesday AEST) to consider whether the bloc’s free-trade talks with Australia should become collateral damage from Canberra’s cancellation of a $90 billion submarines contract with France. The Fin

Nomura helps Hoyts in $550m refinancing

Hoyts has successfully refinanced $550m worth of loans with Japanese bank Nomura coming to the aid of the cinema business. The Aus

GF tickets fraud warning

A Kalbarri family whose pizza restaurant was partly destroyed by cyclone Seroja has been cheated out of $1450 trying to buy AFL grand final tickets — one of five scams confirmed by Consumer Protection so far. The West

Preselection to go to wire

Under-threat Liberal MP Ian Goodenough is tipped to fend-off a challenge from Vince Connelly in what shapes as a lineball preselection for the safe seat of Moore. The West

SeaLink inks WA deal

SeaLink has bought another WA bus company, this time swooping on tourism operator Swan Valley Tours on the outskirts of Perth. The West

 

 

The Australian Financial Review

Page 1: Pipeline owner APA Group has highlighted its all-Australian credentials after lobbing a rival bid for AusNet Services that trumps the $9.6 billion cash offer from Canada’s Brookfield and has sparked a bidding war for the owner of Victoria’s electricity transmission system.

Page 3: Australia’s huge economy-boosting infrastructure pipeline is being constrained by lockdowns, skill shortages and global supply constraints, leading to a potential $25 billion underspend nationally.

Page 7: Australian employers rank first in the world in using technology to monitor their employees, and fear the issue will trigger employee activism even more than pay and conditions, according to new research.

Page 8: The National Disability Insurance Scheme risks blowing out to $75 billion a year in a decade and will overtake Commonwealth spending on aged care, Medicare and hospitals, Parliament’s independent budget watchdog has warned.

Page 11: European Union foreign ministers met in New York on Monday (Tuesday AEST) to consider whether the bloc’s free-trade talks with Australia should become collateral damage from Canberra’s cancellation of a $90 billion submarines contract with France.

Page 13: Default fears continued to stalk China’s Evergrande Group yesterday despite efforts by its chairman to lift confidence in the embattled firm, as markets looked for possible intervention by Beijing to stem any domino effects across the global economy.

Page 14: Afterpay will allow customers to retrospectively turn purchases into a buy now, pay later transaction through a new feature that it hopes will encourage more of them to switch their banking to its Money application.

Page 15: Perth-based bigwig Mineral Resources appears to have found itself an interesting catch, this time in its newish energy unit and in a project it shares with ASX-listed Norwest Energy.

Page 17: Kathmandu Group chief executive Michael Daly’s baptism by fire is set to continue into 2022 as lockdowns crunch sales at Kathmandu and Rip Curl stores and supply chain disruption leads to stock shortages and higher shipping costs.

 

 

The Australian

Page 1: Extra savings worth $230bn that will be sitting in bank accounts by the end of the year will fund a robust economic rebound, despite new warnings Covid-19 outbreaks will slash this year’s GDP growth.

Page2: Closed borders have triggered an acute national shortage of shearers, leading to wage bidding wars, 15 per cent pay increases, animal welfare concerns and feared production cuts.

Page 5: Pediatricians have called for the Therapeutic Goods Administration to demand more data from Pfizer to prove the safety of its Covid-19 vaccine in children, as the government issued an invitation to the US-based pharmaceutical giant to submit its application for approval.

Page 6: The Philippines has backed Australia’s decision to strike a trilateral security partnership with the US and Britain, in a break from other ASEAN nations that have questioned the AUKUS agreement.

Page 14: Hoyts has successfully refinanced $550m worth of loans with Japanese bank Nomura coming to the aid of the cinema business.

Page 15: Covid vaccines are being delivered to thousands of community pharmacies only once every two weeks under the federal government’s distribution agreement with German logistics giant DHL and Linfox.

 

 

The West Australian

Page 1: Premier Mark McGowan has attempted to excuse Attorney-General John Quigley’s trip in former Crown Perth director John Poynton’s helicopter by saying his colleagues are not “members of Parliament or ministers every minute of the day”.

Page 3: A Kalbarri family whose pizza restaurant was partly destroyed by cyclone Seroja has been cheated out of $1450 trying to buy AFL grand final tickets — one of five scams confirmed by Consumer Protection so far.

Page 19: Scientists have identified a genetic link to the painful condition endometriosis, where womb-like tissue begins to grow elsewhere in the body.

Page 21: Under-threat Liberal MP Ian Goodenough is tipped to fend-off a challenge from Vince Connelly in what shapes as a lineball preselection for the safe seat of Moore.

Business: Senior staff at Crown Perth ignored red flags regarding a local bank manager who gambled away $2.7 million in five months and instead recruited him to its high-roller room because he was classed as a “high-value player”.

The Reserve Bank of Australia has warned the recovery from the expected economic downturn in the September quarter could be slower than previously experienced during the COVID-19 pandemic.

Friends Cale Donovan and Sam McConkey are on a mission to transform and democratise Australia’s funeral industry, which costs about $1.6 billion to consumers annually.

SeaLink has bought another WA bus company, this time swooping on tourism operator Swan Valley Tours on the outskirts of Perth.

Bryah Resources’ gold spin-off Star Minerals has easily raised $5 million in an initial public offering ahead of its ASX listing next month.

Big names in Perth’s hospitality industry are throwing their weight behind the multi-million dollar redevelopment of Karrinyup Shopping Centre, with 30 venues to open next month.

Western Areas has opened the books to suitor IGO after weeks of an effective stalemate between the two parties over a potential takeover deal.

The vice-president of operations at South32’s Worsley Alumina division, Noel Pillay, will take over as chief operating officer of the company’s Africa and Colombia operations after the departure of executive Mike Fraser.

Alcoa is pulling the trigger on a project to restart an idled aluminium smelter in Brazil after prices of the metal surged to a 13-year high amid Chinese output cuts.

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