08/10/2021 - 07:09

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08/10/2021 - 07:09

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Wesfarmers ramps up API battle with strategic stake

Retail titan Wesfarmers has upped its ante in the takeover battle for Priceline owner, Australia Pharmaceutical Industries, seizing a 19.3 per cent stake in the company. The Aus

WA slams Pitt’s $250b mining back-up

Australia’s largest mining state has blasted a proposal by Resources Minister Keith Pitt that the federal government act as the sector’s financier of last resort, saying the real problem facing coal was not a lack of finance but that demand was declining. The Fin

BHP to shut door on staff without jab

BHP has declared it will shut off access to its mines and offices to staff who are not full vaccinated against Covid-19 by February, with the mining heavyweight telling its entire local workforce to get jabbed as soon as they can. The Aus

Fortescue buys solar panel manufacturer

Iron ore miner Fortescue Metals Group has taken 60 per cent ownership of a Dutch solar power company and says it is studying an option to build an Australian factory to make its unique photovoltaic technology. The Fin

Threatened parcels strike a body blow for recovery

Employers have blasted union threats of a nationwide strike by thousands of workers at five transport companies, warning it would further disrupt parcel deliveries, keep many permanent employees stood down and hamper companies emerging from lockdowns. The Aus

ScoMo tells Perrottet GST deal is rock solid

Scott Morrison has declared the GST deal to ensure WA does not receive less than 70¢ in the dollar is “rock solid”, despite NSW Premier Dominic Perrottet saying there would be a “big debate” on the issue. The West

Banks face protest votes on loans for fossil fuels

Each major bank faces a protest vote at their annual meeting over the $835 million the big four lent to expansionary fossil-fuel projects in 2020. The Fin

Social issues top risk for mines sector

The mining industry considers environmental and social issues as the top risk for 2022, trumping concerns about decarbonisation and the green energy transition. The West

IMF steady on inflation

The International Monetary Fund does not believe the rapid acceleration in inflation will continue, but admits there are risks ahead as the global economy recovers from the pandemic. The West

Canva leads by example over carbon

WA-founded tech unicorn Canva has become the first Australian company to sign The Climate Pledge, a global movement dedicated to achieving net zero carbon emissions by 2040. The West

 

 

The Australian Financial Review

Page 1: Soaring international gas prices have triggered a near 30-fold spike in the value of a single spot cargo shipment of LNG to more than $US205 million ($282 million) in a price surge that delivers a windfall to gas producers but threatens to derail the global economic recovery.

Page 3: Australia’s largest mining state has blasted a proposal by Resources Minister Keith Pitt that the federal government act as the sector’s financier of last resort, saying the real problem facing coal was not a lack of finance but that demand was declining.

Home and apartment sales are set to surge in the next three months as buyers rush to settle home purchases before their existing pre-approvals expire to avoid new tougher home loan assessments.

Page 6: Australia could be less than 30 days away from reaching the critical 80 per cent full vaccination milestone required for reopening, as jurisdictions including NSW, the ACT and Victoria power ahead on double-dose rates.

Page 7: One in three tourism operators are likely to sell their businesses by Christmas to exit the $50 billion industry, which has been decimated by the COVID-19 pandemic, according to a new survey.

Page 10: Financial markets may be suggesting interest rate rises well ahead of the Reserve Bank of Australia’s 2024 guidance, but ANZ head of Australian economics David Plank says don’t let that fool you.

Page 11: Scott Morrison has warned state governments must take responsibility for hospital capacity as COVID-19 cases peak during reopening, escalating a fight over health funding with Queensland Premier Annastacia Palaszczuk.

Page 13: US tech giant Amazon Web Services has won approval to host sensitive federal government data on servers in Australia under a new toughened cloud security regime.

Page 21: Iron ore miner Fortescue Metals Group has taken 60 per cent ownership of a Dutch solar power company and says it is studying an option to build an Australian factory to make its unique photovoltaic technology.

Each major bank faces a protest vote at their annual meeting over the $835 million the big four lent to expansionary fossil-fuel projects in 2020.

Page 22: Country Road Group will roster store managers and senior staff to check the vaccination status of customers when non-essential retailers throw open their doors in Greater Sydney for the first time in 15 weeks on Monday.

ANZ Bank has responded to demands from its credit card customers for interest-free instalment repayment options and joined the buy now, pay later craze in a deal with Visa.

 

 

The Australian

Page 1: Employers have blasted union threats of a nationwide strike by thousands of workers at five transport companies, warning it would further disrupt parcel deliveries, keep many permanent employees stood down and hamper companies emerging from lockdowns.

Scott Morrison has flagged recognising tech titans as publishers if they do not start revealing the identity of anonymous online trolls, opening up Facebook and Twitter to defamation action.

Page 2: A planned $240m space radar project will guard against threats to commercial and military satellites, giving Australia, its allies and commercial operators the ability to track hundreds of thousands of orbiting objects.

Scott Morrison says the return of France’s ambassador to Australia was “always going to happen”, and his government is not planning fresh initiatives to repair relations with Paris over the cancelled $90bn Attack-class submarines.

Page 4: Wages and menu prices are tipped to soar over summer as pent-up demand crashes into a dire shortage of skilled workers

More than half a million Australians have been stood down since Delta lockdowns began in late June, but economists said the “downward spiral” in employment eased in September ahead of an expected labour market rebound as restrictions ease in coming weeks.

Page 13: Health insurer NIB will pay its employees $1200 a year in recognition that it is “renting space in people’s homes” as it becomes one of the first Australian companies to shift to a permanent remote working model.

BHP has declared it will shut off access to its mines and offices to staff who are not full vaccinated against Covid-19 by February, with the mining heavyweight telling its entire local workforce to get jabbed as soon as they can.

BHP began production at its $US3.6bn ($4.98bn) South Flank mine, 56km northwest of Newman in Western Australia’s Pilbara region, in late May – shortly after the iron ore price hit a record $US233 per tonne.

Page 17: Lockdowns in half the country have led to a reduction in credit card debt, which is now at its lowest level since January 2004.

Page 20: Retail titan Wesfarmers has upped its ante in the takeover battle for Priceline owner, Australia Pharmaceutical Industries, seizing a 19.3 per cent stake in the company.

 

 

The West Australian

Page 1: Premier Mark McGowan — along with 10 of his ministers — were showered with more than $60,000 worth of tickets and corporate hospitality for the AFL grand final.

Page 4: Scott Morrison has declared the GST deal to ensure WA does not receive less than 70¢ in the dollar is “rock solid”, despite NSW Premier Dominic Perrottet saying there would be a “big debate” on the issue.

Page 11: Mineral Resources and BHP are the latest miners to throw their weight behind the McGowan Government’s mandatory COVID jab policy as disgruntled fly-in, fly-out workers start to agitate against it.

Page 15: A WA-bred ram — designed to shed its wool instead of being shorn — has fetched an eye-watering $51,500 this week.

Page 55: To tackle runaway global warming, politicians have to look beyond catchphrases like “clean hydrogen” and understand the research behind renewable energy sources before making decisions, Fortescue chairman Andrew Forrest has told CNBC.

The North West’s only abattoir will reopen early next year after being restructured into a cooperative that is part owned by the Spudshed’s Tony Galati.

Page 56: The coal industry is still getting enough funding to enable big investments in the world’s dirtiest fossil fuel, according to a report from German campaign group Urgewald.

Page 57: The mining industry considers environmental and social issues as the top risk for 2022, trumping concerns about decarbonisation and the green energy transition.

Page 58: WA-founded tech unicorn Canva has become the first Australian company to sign The Climate Pledge, a global movement dedicated to achieving net zero carbon emissions by 2040.

The International Monetary Fund does not believe the rapid acceleration in inflation will continue, but admits there are risks ahead as the global economy recovers from the pandemic.

Russia is ready to help stabilise global energy markets and could export record volumes of natural gas to Europe this year, President Vladimir Putin says.

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