07/01/2022 - 06:27

Morning Headlines

07/01/2022 - 06:27

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The surging number of omicron cases is causing unprecedented disruption to businesses, as industries from retail to hospitality are forced to shut down or scale back operations.

Morning Headlines

Virus chaos crippling business

The surging number of omicron cases is causing unprecedented disruption to businesses during a non-lockdown period as industries from retail to hospitality are forced to shut down or scale back operations because their workforces are being decimated by staff falling sick or isolating. The Fin

Global tech stocks rout wreaks havoc on ASX

A global tech rout wreaked havoc on Australian shares yesterday, triggering the worst sell-off on the local share-market in 16 months, amid fears the US Federal Reserve could begin to raise interest rates more aggressively than previously anticipated. The Fin

Frydenberg to hold broad review of RBA

Treasurer Josh Frydenberg has committed to a broad-based, independent review of the Reserve Bank of Australia and the nation’s monetary policy settings after this year’s election, in a move backed by leading economists. The Fin

Border farce: cout to rule on Djokovic visa

The world’s No. 1 tennis player, Novak Djokovic, has spent a second night in immigration detention in Melbourne after launching a legal challenge to Australia’s border control rules and his immediate deportation for breaching COVID vaccination orders. The Aus

Woodside tipped as best Asia-Pacific oil stock

Woodside Petroleum will be the best performing oil and gas company in the Asia-Pacific market as it capitalises on stronger demand for oil and its growing LNG supplies after its $40 billion merger with BHP, according to Bernstein Research. The Fin

Giants circle Westpac’s BT

Some of the world’s largest private equity and funds management firms are circling Westpac’s BT superannuation unit, which could fetch as much as $400 million. The Aus

Facing up to reality on masks

The addition of another locally acquired COVID case on Thursday has dimmed hopes that Perth and Peel residents will be permitted to shed their masks before the weekend. The West

Miners ramp-up rapid tests

WA’s booming resources sector has swiftly embraced rapid antigen tests as it looks to protect its workers and essential operations from COVID-19 ahead of the opening of the State’s borders next month. The West

Perth Mint boasts record 2021 gold sales

The Perth Mint has reported decade-high gold sales of more than one million ounces last year. The West

The Australian Financial Review

Page 1: The surging number of omicron cases is causing unprecedented disruption to businesses during a non-lockdown period as industries from retail to hospitality are forced to shut down or scale back operations because their workforces are being decimated by staff falling sick or isolating.

A global tech rout wreaked havoc on Australian shares yesterday, triggering the worst sell-off on the local share-market in 16 months, amid fears the US Federal Reserve could begin to raise interest rates more aggressively than previously anticipated.

Page 3: Treasurer Josh Frydenberg has committed to a broad-based, independent review of the Reserve Bank of Australia and the nation’s monetary policy settings after this year’s election, in a move backed by leading economists.

Page 4: Aged-care workers with high exposure to coronavirus are ‘‘horrified’’ that they might infect and kill elderly residents under relaxed isolation rules approved by national cabinet, unions say.

Page 6: It will be mandatory to report positive rapid antigen tests in Victoria from tomorrow, and Queensland and South Australia are working on implementing similar requirements, as pathology systems buckle under the growing backlog of unprocessed PCR tests.

Page 12: Latitude will try to cross-sell personal and car loans to Humm’s 2.7 million customers if it succeeds in buying the former Flexigroup’s credit card and buy now, pay later businesses under a $335 million offer that suggests the merger and acquisition boom will continue in 2022.

Page 13: For the first time in six years, global banks made more money from arranging green-bond sales and loans than they did from raising capital for fossil fuel companies.

New car buyers quietly cursing the global semi-conductor shortage and supply chain disruptions that have triggered long delays in the arrival of new vehicles may have to wait until late this year for the supply and demand imbalance to be righted.

Page 15: Woodside Petroleum will be the best performing oil and gas company in the Asia-Pacific market as it capitalises on stronger demand for oil and its growing LNG supplies after its $40 billion merger with BHP, according to Bernstein Research.

Page 16: South32 and Alcoa Corporation plan to restart their jointly owned Alumar aluminium smelter in Brazil using only renewable energy, responding to rising demand for the versatile metal as the world decarbonises, and mounting pressure to reduce the carbon footprint of its energy-intensive manufacturing process.

The Australian

Page 1: The world’s No. 1 tennis player, Novak Djokovic, has spent a second night in immigration detention in Melbourne after launching a legal challenge to Australia’s border control rules and his immediate deportation for breaching COVID vaccination orders.

Some of the world’s largest private equity and funds management firms are circling Westpac’s BT superannuation unit, which could fetch as much as $400 million.

Page 2: The Liberal National candidate chosen to replace dumped federal MP Andrew Laming is under investigation by Queensland Police over allegations he and his wife tried to bribe another candidate to drop out of last year’s preselection race.

Page 3: A reluctance to intervene when families fail has deepened the crisis for children in the far north Kimberley, local MP Neil Thomson claims.

Page 5: A sharp increase in migration this year is likely to highlight a shortage of city apartments following an extended period of below-average building approvals.

Page 13: KPMG is set to launch what will be the first commercial use of the ASX’s blockchain technology platform - a Building Trustworthy Index - in conjunction with developer Mirvac, Microsoft and the NSW government.

AustralianSuper, the country’s largest manager of retirement savings, has won the right to levy its members’ funds to pay for any fines and penalties it incurs.

Page 15: Almost 1,700 US flights were cancelled by Wednesday evening local time, the 11th straight day of more than 1,000 daily cancellations and the airline industry’s worst stretch since the start of the pandemic.

Page 17: Federal Reserve officials at their meeting last month eyed a faster timetable for raising interest rates this year, potentially as soon as March, amid greater discomfort with high inflation.

The West Australian

Page 1: Tennis world No.1 Novak Djokovic will remain in visa limbo in a Melbourne immigration hotel until at least Monday as he fights deportation before the Australian Open.

Page 5: Harold Clough, the WA business titan who helped make the Narrows Bridge a reality, has died aged 95.

Page 10: The addition of another locally acquired COVID case on Thursday has dimmed hopes that Perth and Peel residents will be permitted to shed their masks before the weekend.

Two backpackers who allegedly ignored health advice to get tested and isolate after being linked to a COVID case have faced court after being released from isolation.

Page 23: The Australian Border Force says the Christmas Island Immigration Detention Centre remains secure despite detainees setting buildings on fire during a riot on Wednesday.

Business: WA’s booming resources sector has swiftly embraced rapid antigen tests as it looks to protect its workers and essential operations from COVID-19 ahead of the opening of the State’s borders next month.

Perth-based My Foodie Box is hoping to further capitalise on the national taste for meal kits when it lists on the ASX on Friday.

The Perth Mint has reported decade-high gold sales of more than one million ounces last year.

Spud king Tony Galati is gearing up to expand his multimillion dollar business empire after receiving approval to build a $15 million chicken farm near Lancelin.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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