29/11/2021 - 07:02

Morning Headlines

29/11/2021 - 07:02

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Morning Headlines

Omicron arrives, ASX to tumble

The first two cases of the more infectious omicron coronavirus variant were detected yesterday in international travellers arriving in Sydney as escalating global fears about the little-known variant are set to send Australian shares tumbling again today. The Fin

‘Wild west’ of social media to face reckoning

Prime Minister Scott Morrison is cracking down on the ‘‘wild west’’ of social media, announcing legislation that will hold Facebook, Twitter and other platforms responsible for harmful content and impose the same legal liabilities as mainstream publishers. The Fin

No proof of worker exodus

The supposed “great resignation” of workers post-COVID has failed to eventuate in WA, with key economic indicators suggesting people are staying put. The West

Black Friday sales now bigger than Boxing Day

Australia’s love affair with Black Friday has helped the shopping event – long second to the annual Boxing Day sales – emerge as the largest single contributor to the $320bn retail sector. The Aus

WA chief scientist pushes for creation of ‘super’ university

Merging Western Australia’s four public universities would create a super-institution that would immediately land in the top-50 global rankings and act as a major lure to attract world-class academics and international students, the state’s chief scientist says. The Fin

Threat in engineering skills crisis

The emerging advanced manufacturing sector and national infrastructure projects could be compromised as the supply of home-grown engineers has dropped below replacement level of those leaving the profession. The Fin

Fortescue tests new frontier on iron ore prices

Fortescue Metals will test a new frontier of iron ore price discovery with plans to run auctions on the same digital system that stunned lithium markets this year by enabling Pilbara Minerals to sell its product at more than double the industry benchmark price. The Fin

Stronger clout for online crime fight

A new Australian Federal Police-led cybercrime taskforce will join forces with financial institutions to “supercharge” responses to online criminal activity. The Aus

JD Sports’ retail ‘niche’ now worth $300m in annual sales

JD Sports chairman Hilton Seskin likes to describe the British footwear and apparel retailer as having found its “niche” in Australia. The Aus

‘Office’ to be home and work

Australians want to come back to the office, but not every day, according to a new survey. The West

 

 

The Australian Financial Review

Page 1: The first two cases of the more infectious omicron coronavirus variant were detected yesterday in international travellers arriving in Sydney as escalating global fears about the little-known variant are set to send Australian shares tumbling again today.

Australian miners are increasingly optimistic they may be able to resume selling coal to China, after official data confirmed small volumes of Australian coal cleared the Asian superpower’s borders in October.

Page 2: Scott Morrison says Australia cannot afford to show ‘‘weakness’’ in the face of China’s growing combativeness, backing in Defence Minister Peter Dutton’s dire assessment that the loss of Taiwan would be the first step in Beijing’s domination of the region.

Page 3: Prime Minister Scott Morrison is cracking down on the ‘‘wild west’’ of social media, announcing legislation that will hold Facebook, Twitter and other platforms responsible for harmful content and impose the same legal liabilities as mainstream publishers.

A bond-funded $20 billion Social Housing Future Fund would allow the creation of an extra 3000 social housing units a year to tackle the existing shortfall and growing demand for secure housing for lower-income Australians, a Grattan Institute report says.

Returning arrivals should be placed in mandatory hotel quarantine for five days amid predictions the new omicron variant will spread rapidly and affect international travel, health experts say.

Page 9: Merging Western Australia’s four public universities would create a super-institution that would immediately land in the top-50 global rankings and act as a major lure to attract world-class academics and international students, the state’s chief scientist says.

Page 12: The emerging advanced manufacturing sector and national infrastructure projects could be compromised as the supply of home-grown engineers has dropped below replacement level of those leaving the profession.

Page 15: Zero alcohol craft brewer Heaps Normal has raised $8.5 million in capital from a range of investors including Adore Beauty founder Kate Morris and the co-founder of eco toilet paper outfit Who Gives a Crap, Simon Griffiths.

Inquiries for overseas trips fell off a cliff following the weekend’s border shutdowns because of fears about the new omicron COVID-19 variant, the travel sector says.

Page 17: Fortescue Metals will test a new frontier of iron ore price discovery with plans to run auctions on the same digital system that stunned lithium markets this year by enabling Pilbara Minerals to sell its product at more than double the industry benchmark price.

 

 

The Australian

Page 1: Business leaders are warning an “over-reaction” to the threat posed by the new Omicron strain of Covid-19 would be devastating for an economy only starting to recover from the nation’s recent round of lockdowns.

Page 2: Australia’s Future Fund has almost $158m invested in companies directly linked to the Myanmar junta, including subsidiaries of a Chinese arms manufacturer that has sold fighter jets and missiles to the military.

Page 3: Australia-wide tracking of retired racehorses and uniform animal welfare standards headline a radical overhaul of the $9bn thoroughbred industry that could be part-funded by a 50c levy on every active betting account.

Page 4: Masks, travel bans, increased testing and a concerted booster vaccination drive have been reintroduced across Britain to prepare for the Covid-19 variant Omicron as fears that a South African rugby match at Twickenham a week ago could be a super-spreader event.

Page 5: A new Australian Federal Police-led cybercrime taskforce will join forces with financial institutions to “supercharge” responses to online criminal activity.

A child’s ability to manage their emotions, respond appropriately to different circumstances and juggle multiple tasks can significantly affect their performance in the early years of school, a first-of-its-kind study has found.

Page 6: Too many Australian children growing up in urban areas live far from the green spaces and amenities they need to thrive, often because cities are designed by, and for, adults, a leading children’s advocate says.

Page 7: Just one in eight casual workers choose to convert to permanent employment when the offer is made by their employers, prompting Attorney-General Michaelia Cash to declare that most casuals “embrace” their working arrangements.

Religious discrimination laws will allow women who need IVF or surrogacy to be refused employment or harassed in their jobs by religious bodies, including the Catholic Church, which oppose such medical procedures, lawyers say.

Page 15: JD Sports chairman Hilton Seskin likes to describe the British footwear and apparel retailer as having found its “niche” in Australia.

Blackstone could pay up to $15 a share in its takeover bid for Crown Resorts and achieve returns comparable to those already enjoyed by its real estate investment vehicle, according to Credit Suisse.

Australia’s love affair with Black Friday has helped the shopping event – long second to the annual Boxing Day sales – emerge as the largest single contributor to the $320bn retail sector.

 

 

The West Australian

Page 5: The owners of a commercial laundry in Belmont have been left devastated after an intense blaze ripped through their factory, causing the building to collapse as black toxic smoke spewed into the air.

Page 7: WA’s peak doctors group says Mark McGowan must take into account the arrival of the Omicron variant of COVID-19 in Australia when setting a date for WA’s border reopening.

Page 8: An unvaccinated WA Police officer has launched legal action in the Supreme Court against the State Government’s COVID-19 vaccination mandate.

Page 14: A treatment already on the Pharmaceutical Benefit Scheme will be expanded to help treat leukaemia.

Business: The supposed “great resignation” of workers post-COVID has failed to eventuate in WA, with key economic indicators suggesting people are staying put.

China is back in the lead as the world’s biggest gold producer after production at some of Australia’s largest gold mines was curbed by bad weather and operational issues in the September quarter.

Law firm Norton Rose Fulbright has successfully appealed against a ruling that it behaved deceitfully while fighting claims by ousted Perth partner Thomas Martin.

Australians want to come back to the office, but not every day, according to a new survey.

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