15/12/2021 - 07:04

Morning Headlines

15/12/2021 - 07:04

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Morning Headlines

WA gas shortfall looms in 2025

Western Australia is facing potential shortages of domestic gas starting in 2025 due to downgrades to reserves at existing fields that have reduced likely supplies into the local market and are helping push up prices. The Fin

NDIS $26b blowout takes gloss off MYEFO results

Tomorrow’s federal budget update is expected to reveal a blowout of about $26 billion over the next four years due to the spiralling costs of the National Disability Insurance Scheme, taking the gloss off expectations about how quickly federal finances can recover. The Fin

Draft flightplan for phoenix-like Virgin to land at ASX again

Bain Capital is considering publicly listing Virgin Australia just one year after it purchased the country’s second-largest airline out of pandemic-driven collapse. The Aus

Virus-related costs to dent Woolies profit

The chief executive of Woolworths is confident that the big rise in direct COVID-19 costs that have dented profits – at the same time that the at-home consumption boom wanes – will disappear when the pandemic ends. The Fin

BHP vows to clamp down after manager’s sacking

BHP is cracking down on bosses who fail to report sexual misconduct, revealing that one manager has already been shown the door for what the mining giant has declared is now a top-tier workplace breach. The West

Crypto economy to hit $68b, create 200K jobs: EY

The Morrison government says it will end the ‘‘brain drain’’ of homegrown cryptocurrency innovators fleeing overseas if re-elected early next year, as professional services giant EY suggests the hot sector could grow 30 times over the next decade with the right rules and regulations in place. The Fin

Qantas to fly ahead with commercial green fuel

Qantas will be the first Australian carrier to fly commercial trips using sustainable fuel alternatives under a deal to buy 10 million litres of biofuels from BP at Heathrow Airport next year. The Fin

Retiree push to cash in homes

Scott Morrison will help senior Australians fund retirement by unlocking the value of their home under a revamped reverse mortgage scheme unveiled in Thursday’s mid-year budget update. The Aus

Female first as top lawyer takes the reins at ACCC

The consumer watchdog will have its first female chair after the Morrison government on Tuesday nominated leading competition lawyer Gina Cass-Gottlieb to take over the top job from Rod Sims in March. The Aus

Zippy startup to double its workforce

Perth-based healthcare startup Zipline.io wants to double its workforce, with the business looking to hire talent from non-tech backgrounds to combat WA’s skills shortage. The West

 

 

The Australian Financial Review

Page 1: Biotech giant CSL has sealed a $16.4 billion buyout of Switzerland’s Vifor Pharma Group, gaining a foothold in rapidly growing markets for kidney disease and iron deficiency treatments that complements its core immunodeficiency and haemophilia therapies.

Page 2: Tomorrow’s federal budget update is expected to reveal a blowout of about $26 billion over the next four years due to the spiralling costs of the National Disability Insurance Scheme, taking the gloss off expectations about how quickly federal finances can recover.

Page 5: Australian companies collecting used textiles for recycling and reuse overseas warn that soaring costs for international freight could result in millions of kilos of clothes being sent to landfill.

Page 6: The Defence Department has quietly cancelled a contract for the gun to be fitted to the navy’s new fleet of patrol boats, less than three months after denying there was a problem, an Auditor-General’s report reveals.

Good weather, strong demand and cheap money have farmers optimistic about next year, with banks saying the good times are expected to continue in 2022.

Page 12: Moves to update fundraising regulations for Australia’s charity and not-for-profit sector have been agreed between the Morrison government and the states and territories, part of plans to bring donations rules into the online age.

Page 16: The chief executive of Woolworths is confident that the big rise in direct COVID-19 costs that have dented profits – at the same time that the at-home consumption boom wanes – will disappear when the pandemic ends.

Page 17: The Morrison government says it will end the ‘‘brain drain’’ of homegrown cryptocurrency innovators fleeing overseas if re-elected early next year, as professional services giant EY suggests the hot sector could grow 30 times over the next decade with the right rules and regulations in place.

Page 19: A controversial $2.6 billion urea project proposed for South Australia has been busy fielding inquiries for potential supply thanks to the crisis around diesel exhaust fluid AdBlue, which is made from the compound.

Qantas will be the first Australian carrier to fly commercial trips using sustainable fuel alternatives under a deal to buy 10 million litres of biofuels from BP at Heathrow Airport next year.

Page 21: Western Australia is facing potential shortages of domestic gas starting in 2025 due to downgrades to reserves at existing fields that have reduced likely supplies into the local market and are helping push up prices.

 

 

The Australian

Page 1: Scott Morrison will help senior Australians fund retirement by unlocking the value of their home under a revamped reverse mortgage scheme unveiled in Thursday’s mid-year budget update.

Bain Capital is considering publicly listing Virgin Australia just one year after it purchased the country’s second-largest airline out of pandemic-driven collapse.

Page 3: Academics at Australian universities vying for government grants will have to demonstrate better the commercialisation of their research and how it aligns with the national interest as part of a funding overhaul to help bolster the country’s recovery from the Covid-19 pandemic.

Page 4: The consumer watchdog will have its first female chair after the Morrison government on Tuesday nominated leading competition lawyer Gina Cass-Gottlieb to take over the top job from Rod Sims in March.

Page 5: Cracks have been found in wind turbines imported from China for Australia’s largest wind farm, with a national union leader declaring the defects would not have happened if the Morrison government had acted to ensure they were manufactured locally.

Page 6: Private health insurers are pushing back on Morrison government calls to reconsider a rise in their premiums, as Health Minister Greg Hunt questioned whether the planned rate increases were affordable.

Page 9: Doctors and pharmacists say summer staffing short ages, pharmacies and GPs opting out of vaccination and the closure of state-run mass vaccination hubs could create the “perfect storm” for delays in the booster rollout.

Lifeline has received more than one million calls this year from Australians in need, a nearly 8 per cent jump between the first and second phases of the pandemic.

The West Australian diaspora has flocked to buy flights back to Perth for when WA’s hard border finally comes down – but at least some of those returning next year will be bringing some ongoing resentment towards WA Premier Mark McGowan.

Page 17: TPG Telecom has announced a major restructure, reducing its 11 business units to seven, with three top executives set to depart the company 18 months after its merger with Vodafone.

 

 

The West Australian

Page 3: Petrol price margins generated by service stations have soared a staggering 25 per cent since the number of Perth’s “cheap” fuel days were slashed, according to the RAC.

Page 4: A survey of public school principals has found one-third of respondents expect their schools to suffer staff shortages at the start of the new school year.

Page 5: WA’s status as the Australian gateway to Europe has been cemented with Qantas on Wednesday announcing it will establish direct flights between Perth and Rome — and the return of the highly successful non-stop London route.

Page 8: Workers at Fortescue Metals Group have called for a personal safety app and better CCTV coverage after a survey revealed nearly one in three employees either saw or was a victim of inappropriate behaviour on the job in the past year.

Page 9: BHP is cracking down on bosses who fail to report sexual misconduct, revealing that one manager has already been shown the door for what the mining giant has declared is now a top-tier workplace breach.

Page 21: The McGowan Government will invest $5 million into new safety measures to help stamp out antisocial behaviour in trouble-plagued Northbridge and the Perth CBD.

Business: The death of a young mine worker more than three years ago is among a group of fatalities in the WA resources sector still unresolved by the Government department tasked with investigating them.

A lawyer for Gina Rinehart has raised hopes that a family battle over her father Lang Hancock’s legacy will be resolved by Federal arbitration late next year.

The WA businesses hardest hit by skills shortages are counting down the days to the State reopening its borders but some industries are bracing for long-term difficulties finding staff.

Perth-based healthcare startup Zipline.io wants to double its workforce, with the business looking to hire talent from non-tech backgrounds to combat WA’s skills shortage.

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