12/10/2021 - 07:01

Morning Headlines

12/10/2021 - 07:01

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No site for green FMG plant in WA

The State Government has revealed WA lost out to Queensland on Fortescue Metals Group’s $1 billion green energy factory because the State did not have a viable site for the development. The West

Migrant boost to stir recovery

Australia needs an explosive post-World War II-style immigration surge that could bring in 2 million people over five years to rebuild the economy and address worsening labour shortages, according to NSW government advice to new Premier Dominic Perrottet. The Fin

Green investment risk: Forrest

Mining billionaire Andrew Forrest has warned Australia risks missing major investment opportunities if Scott Morrison fails to attend next month’s UN climate summit in Glasgow. The Aus

Business pushes for faster action

Industry leaders have demanded more ambitious action from the federal government on climate change heading into the COP26 summit in Glasgow, mostly rejecting arguments from federal Energy Minister Angus Taylor that consumers would end up paying with higher electricity and gas bills. The Fin

Australia left behind as Asia opens to travel

Australia’s tourism operators are missing out as quarantine-free travel opens up between parts of Asia, Europe and the United States. The Fin

Insurance ‘driving up cyber hacks’

Insurers should stop paying out ransoms to cyberhackers as it is unintentionally increasing the number of threats and leading organisations to “become lax” about cybersecurity, a report from Australia’s Cyber Security Co-operative Research Centre says. The Aus

WeChat to pick lawyer amid scrutiny

Chinese social media platform WeChat has told a parliamentary inquiry into foreign influence through social media that it plans to appoint a senior legal representative to work with Australian regulators and law enforcement agencies. The Fin

Social media’s self-policing plan ‘laughable’

Moves by big tech companies including Facebook to introduce a new self-funded and self-appointed oversight panel to rule on Australian cases of misinformation on their platforms have been dismissed as ‘‘laughable’’ by public interest groups. The Fin

A you-beaut budget airline? Bonza

A new budget carrier called Bonza is being readied for takeoff as Australia emerges from the Covid crisis, in the hope of tapping into a market hungry for travel. The Aus

 

 

The Australian Financial Review

Page S1: Industry leaders have demanded more ambitious action from the federal government on climate change heading into the COP26 summit in Glasgow, mostly rejecting arguments from federal Energy Minister Angus Taylor that consumers would end up paying with higher electricity and gas bills.

BHP says Australia will not have the luxury of ignoring nuclear power’s potential to deliver reliable, carbon-free electricity as experts said last month’s submarine pact had welded the nation’s future to the radioactive fuel.

Page 1: Australia needs an explosive post-World War II-style immigration surge that could bring in 2 million people over five years to rebuild the economy and address worsening labour shortages, according to NSW government advice to new Premier Dominic Perrottet.

Page 3: The Commonwealth Bank faces millions of dollars in fines as part of a court action that alleges it underpaid thousands of employees more than $16 million by getting them to sign on to individual agreements that undercut union deals.

Page 8: Scott Morrison has expressed confidence he will reach agreement with the Nationals on climate change policy amid growing speculation a healthy majority of members of the junior Coalition party are open to a deal.

Page 11: A group of class action lawyers and silks are facing criminal investigation and a damages bill of more than $11.7 million for ‘‘dishonourable’’ and ‘‘fraudulent’’ attempts to claim more than $19 million in legal and funding fees from a group of elderly investors in the Banksia class action.

Chinese social media platform WeChat has told a parliamentary inquiry into foreign influence through social media that it plans to appoint a senior legal representative to work with Australian regulators and law enforcement agencies.

Page 12: Australia’s tourism operators are missing out as quarantine-free travel opens up between parts of Asia, Europe and the United States.

Page 14: The NSW Independent Liquor and Gaming Authority will investigate allegations that Star Entertainment allowed money laundering and infiltration by organised crime figures at its Sydney and Gold Coast casinos as investors wiped nearly $1 billion off its market value.

Ampol is not waiting for the federal government to implement policies to encourage the transition to electric vehicles (EV) as it seeks to use the increased bulk and expertise from its proposed $1.9 billion acquisition of Kiwi petrol retailer Z Energy to accelerate the shift.

Page 15: PwC has snapped up Sydney-based IT security and risk management firm WebSecure Technologies in an effort to bolster its share of the privileged access management market in Australia.

Page 17: The zero-alcohol and low-alcohol segment has grown more than fivefold in the past year, says the managing director of Endeavour Group, which operates 251 Dan Murphy’s liquor superstores and 1392 stores under the BWS banner.

Page 19: A senior Google executive says it has no interest in becoming a bank, but wants to play a central role in transforming how big banks crunch data to push them towards approving loans almost instantly.

Page 21: Moves by big tech companies including Facebook to introduce a new self-funded and self-appointed oversight panel to rule on Australian cases of misinformation on their platforms have been dismissed as ‘‘laughable’’ by public interest groups.

 

 

The Australian

Page 1: Scott Morrison says the Coalition must “come together” to combat climate change and embrace a new global energy economy, pledging to protect regional communities in the transition to a net zero emissions future.

Page 2: The Fair Work Ombudsman has accused the Commonwealth Bank of “knowingly” underpaying thousands of workers over five years, launching legal action that could expose the nation’s biggest bank to millions of dollars in penalties.

Insurers should stop paying out ransoms to cyberhackers as it is unintentionally increasing the number of threats and leading organisations to “become lax” about cybersecurity, a report from Australia’s Cyber Security Co-operative Research Centre says.

Page 4: Mining billionaire Andrew Forrest has warned Australia risks missing major investment opportunities if Scott Morrison fails to attend next month’s UN climate summit in Glasgow.

Page 6: A new budget carrier called Bonza is being readied for takeoff as Australia emerges from the Covid crisis, in the hope of tapping into a market hungry for travel.

Page 13: Australia faces pressure on gas prices as a global crunch spreads to the nation’s energy sector in a move that could further strain manufacturers and heavy industry, top industry executives have warned.

The corporate watchdog has ramped up its efforts to disrupt sharemarket manipulation by joining a social media group to warn its members that “co-ordinated pumping of shares” is illegal.

Fortescue Metals is facing the first major commercial test of its plans to expand into hydrogen, with the company to partner with Incitec Pivot to examine the production of green ammonia at Incitec’s Gibson Island plant in Brisbane.

Page 15: The worst materials shortage in four decades and skyrocketing steel prices are providing a debilitating downside to Australia’s economic resurgence, national construction company Hansen Yuncken says.

 

 

The West Australian

Page 3: Australia will today become a world leader by launching the very first mental health and wellbeing strategy for children aged 12 and under.

Page 8: Unvaccinated health staff have been given extra time to get the COVID-19 jab.

Page 9: State MPs who refuse to show proof they are vaccinated against COVID-19 could be banned from entering or voting in the WA Parliament.

Page 17: An accommodation squeeze in cyclone-ravaged Kalbarri is hampering efforts to rebuild the popular tourist town within the two-year time frame the recovery was supposed to take.

Business: The State Government has revealed WA lost out to Queensland on Fortescue Metals Group’s $1 billion green energy factory because the State did not have a viable site for the development.

Perth-based Microsoft services provider Velrada has signed a deal with the WA Country Health Service in which its roster technology will be adopted by rural doctors and nurses who have struggled to stay connected during the pandemic.

Norcliffe Mining Services is set for its proposed ASX listing after completing its second significant acquisition in the mining services sector.

Shares in Perth Basin partners Strike Energy and Warrego Energy were hit after a reserves update suggested their West Erregulla project was smaller than initial estimates.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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