10/01/2022 - 06:53

Morning Headlines

10/01/2022 - 06:53

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Morning Headlines

Fortescue turns to contract mining to cut diesel truck spending

Fortescue Metals Group is considering a significant change of strategy at its Iron Bridge magnetite mine in the Pilbara, with the company mulling plans to hand over mining at the massive operation to a contractor rather than do the work itself. The Aus

Poll says Libs won’t float your vote

Premier Mark McGowan has maintained his commanding approval rating through the Christmas COVID scare — but the outlook is far bleaker for Scott Morrison, with new polling placing the Prime Minister on track for an election drubbing in WA. The West

WA ignores health chief advice on alcohol crisis

Western Australia’s influential chief health officer urged the McGowan government to consider sweeping alcohol restrictions across the troubled Kimberley and Pilbara regions before the state instead adopted the hospitality and liquor industry’s preferred model of a banned drinkers register. The Aus

WA-born aerial imaging company plots expansion

WA-born aerial imaging and geospatial intelligence company Nearmap is plotting a potential push into Europe just as growth of its North American business overtakes its Australian operations. The West

Tough road ahead for WA

Closed businesses, staff shortages and near-silent CBDs — this is what WA faces when the State borders reopen next month, according to major business groups in other States. The West

Rules eased for essential workers

NSW and Queensland have seized the initiative to end crippling supermarket supply shortages by slashing isolation rules, as the federal government considers easing rules for workers in a broad range of sectors including aviation, essential services and childcare to stop the economy grinding to a halt. The Fin

Chinese delays hit rapid test kit deliveries

Suppliers of scarce rapid antigen test kits have been hit by delivery delays from China, hampering efforts to secure orders for state and federal governments as well as retailers. The Fin

Indonesian coal halt helps Aussie exports

Australian coal miners will profit from Indonesia’s decision to block exports of coal, as major buyers such as China are forced to look for alternative supplies. The Fin

Bitcoin bears test $US40,000 threshold

Bitcoin extended its slide into the weekend as the most speculative of assets continues to be hit the hardest while the excesses of the last few years get wrung from global markets. The Fin

Households pile their cash into mortgages

Australian households are on average almost four years ahead on their mortgage payments, with a record $50bn funnelled into offset accounts over the past two years as homeowners used the pandemic to pay down their loans. The Aus

 

 

The Australian Financial Review

Page 1: NSW and Queensland have seized the initiative to end crippling supermarket supply shortages by slashing isolation rules, as the federal government considers easing rules for workers in a broad range of sectors including aviation, essential services and childcare to stop the economy grinding to a halt.

The energy regulator has challenged the Australian Energy Market Operator’s prediction of the rapid retirement of coal power plants, asking AEMO if it had considered whether plants could be operated more flexibly, which may extend their life span.

Page 2: The chairman of the prudential regulator, Wayne Byres, is concerned a central bank digital currency might destabilise the financial system by encouraging some customers to hold digital cash directly with the Reserve Bank instead of putting money in bank deposits.

Page 4: Suppliers of scarce rapid antigen test kits have been hit by delivery delays from China, hampering efforts to secure orders for state and federal governments as well as retailers.

Page 6: Work-from-home job ads, including those offering ‘‘permanent’’ work from home (WFH), have almost doubled over the past nine months, with indicators the rise is continuing post-lockdown, new data shows.

Page 9: From Boris Johnson to Emmanuel Macron, Europe’s leaders are increasingly going after antivaxxers as the battle against the fast-spreading omicron variant deepens the region’s pandemic fatigue.

Page 10: Russia’s decision to send paratroopers into Kazakhstan, where a crackdown on violent anti-government protests has left dozens dead, injects additional uncertainty into upcoming talks over a possible Russian invasion of Ukraine.

Page 12: Electric vehicle fast-charger Tritium is grappling with months-long shipping delays and COVID-19 illness among its staff at the same time as it barrels towards a sharemarket listing in New York later this month.

Page 15: Australia is likely to host ‘‘gigawatt hours’’ of storage capacity using the block-stacking technology of Swiss firm Energy Vault, says chief executive Robert Piconi, who revealed discussions with other partners on top of deals announced with BHP and Korea Zinc.

Australian coal miners will profit from Indonesia’s decision to block exports of coal, as major buyers such as China are forced to look for alternative supplies.

Page 17: Bitcoin extended its slide into the weekend as the most speculative of assets continues to be hit the hardest while the excesses of the last few years get wrung from global markets.

 

 

The Australian

Page 1: Major retailers including Coles and Woolworths are reporting staff shortages of up to 35 per cent at their distribution centres due to state-imposed Covid-19 isolation requirements forcing the nation into a deepening supply chain crisis for essential goods including food and pharmaceuticals.

Australian households are on average almost four years ahead on their mortgage payments, with a record $50bn funnelled into offset accounts over the past two years as homeowners used the pandemic to pay down their loans.

Page 6: The US Supreme Court has been attacked for making factual errors as it considers whether to overturn the Biden administration’s national vaccine mandate.

Page 13: Fortescue Metals Group is considering a significant change of strategy at its Iron Bridge magnetite mine in the Pilbara, with the company mulling plans to hand over mining at the massive operation to a contractor rather than do the work itself.

Page 14: Bitcoin traders in China could be using the cryptocurrency to take some $US4.6bn ($6.41bn) out of the country in a circumvention of Beijing’s strict capital controls.

Despite the increased rhetoric and focus on the “energy transition’’, demand for all fossil fuels will grow this year, while currently elevated energy prices will remain vulnerable to geopolitical shocks as supply catches up with demand, S&P Global Platts analytics predicts.

 

 

The West Australian

Page 9: Premier Mark McGowan has maintained his commanding approval rating through the Christmas COVID scare — but the outlook is far bleaker for Scott Morrison, with new polling placing the Prime Minister on track for an election drubbing in WA.

More than 17,000 vaccination appointments for children under 12 have been made at WA’s State-run vaccination clinics ahead of the rollout expanding to include primary school-aged kids from Monday.

Business: Closed businesses, staff shortages and near-silent CBDs — this is what WA faces when the State borders reopen next month, according to major business groups in other States.

WA-born aerial imaging and geospatial intelligence company Nearmap is plotting a potential push into Europe just as growth of its North American business overtakes its Australian operations.

Despite losing some investor confidence amid continued COVID headwinds, Uber could be positioning itself for a comeback in 2022, analysts say.

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