28/03/2022 - 07:03

Morning Headlines

28/03/2022 - 07:03

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Morning Headlines

Fuel tax cut, $18b extra for roads, rail on way

A reduction of the fuel excise for at least six months and an $18 billion addition to the government’s $110 billion infrastructure plans will feature in tomorrow’s pre-election federal budget. The Fin

Westar seeks $2m in its quest for WA gold

Gold junior Westar Resources is looking to raise up to $2m to advance its Western Australian gold aspirations, with its directors and management backing the raising to the tune of $100,000. The Aus

Chalmers rules out mining tax as he says State’s economy is central to Labor campaign

The man who wants to be Australia’s next Treasurer has categorically ruled out a mining tax on WA’s resources sector saying he’ll stand up for the State, which he claims has been undervalued by the Morrison Government. The West

$2.1 billion WA road & rail boost

WA will get a $2.1 billion injection for roads and key rail infrastructure — creating 5500 jobs — as part of the Morrison Government’s pre-election Budget on Tuesday. The West

ASX’s CHESS replacement in new delay

The ASX is expected to delay the starting date of its $250 million CHESS clearing and settlement replacement for the fourth time, after an urgent meeting in New York with its business partner and key technology supplier, Digital Asset Holdings. The Fin

Iron ore strong but challenges ahead, broker warns

The iron ore price is "still in good shape" but could face headwinds in the short term from reduced steel mill profitability, pandemic interruptions to logistics and better volumes coming out of Western Australia and Brazil, broker Morgans says. The Aus

Vietnam set to plug falling shortfall

The Australian government is in final negotiations with Vietnam to complete its first bilateral agreement under a new agriculture visa scheme to plug workforce shortages across the sector. The Aus

Stripe’s plan to muscle in on banks

Stripe, the world’s most valuable private fintech, is looking for banking partners in Australia so it can extend its payments and software offering into core financial services including loans and bank accounts. The Fin

Plan for 80k more uni places 'at no extra cost'

The federal government could create up to 80,000 new universities places at no extra cost if students are restricted to a single commonwealth-supported undergraduate degree, a Centre for Independent Studies paper says. The Aus

Insurance crisis over IT attacks

Insurance coverage for businesses hit by a cybersecurity breach is becoming more expensive and harder to find, senior industry figures have warned. The Aus

  

 

The Australian Financial Review

Page 1: A reduction of the fuel excise for at least six months and an $18 billion addition to the government’s $110 billion infrastructure plans will feature in tomorrow’s pre-election federal budget.

The ASX is expected to delay the starting date of its $250 million CHESS clearing and settlement replacement for the fourth time, after an urgent meeting in New York with its business partner and key technology supplier, Digital Asset Holdings.

Page 3: The head of the federal agency financing Telstra’s $US1.6 billion ($2.1 billion) buyout of a Papua New Guinea-based telecommunications company has flagged that it plans to invest more in Indo-Pacific infrastructure to assist the government’s Pacific Step-up strategy.

Page 4: Taxpayer-funded stimulus and subsidies, and record low-interest rates, bolstered tradies going solo last year, with a near 18 per cent jump in new construction businesses, which over the past five years made up almost one in five companies and sole traders registered.

Page 6: Unicorn founder Didier Elzinga and venture capitalist Paul Bassat say proposed budget changes to lift and, in many instances, remove the cap on employee share schemes puts Australia’s start-up sector on a level playing field with Silicon Valley.

Page 7: Financial services laws are based on philosophies that are outdated and fail to consider the ‘‘risk shift’’ from governments and employers to individuals, the Australian Law Reform Commission says.

Page 13: Stripe, the world’s most valuable private fintech, is looking for banking partners in Australia so it can extend its payments and software offering into core financial services including loans and bank accounts.

Few people have watched the American market’s enthusiasm for clean energy start-up Energy Vault with more interest than former BHP executive Mark Swinnerton.

Page 15: AustralianSuper will more than double the size of its London office to 100-plus people and build up its nascent New York operation to at least 80, as it looks to funnel up to 70 per cent of new funds into offshore markets.

Page 17: CIMIC’s independent board directors will this week advise investors how they should vote on a hostile $1.5 billion takeover offer from the construction group’s controlling shareholder, Hochtief, just two weeks before it closes.

 

 

The Australian

Page 1: Josh Frydenberg will slash fuel excise by between 10c and 20c for six months to give immediate cost­of-living relief for Australian motorists and lock in $17.9bn for nation-building projects when he delivers his fourth budget on Tuesday.

Solomon Islands Opposition Leader Matthew Wale says he warned Australia last year the country's Sogavare government was negotiating a security agreement with Beijing that could lead to the establishment of a Chinese base there.

One in three nursing homes continues to spend less than $10 a day per resident on food, despite being given an extra $10 a day by the Morrison government to help improve the standard of meals.

Page 3: The Australian government is in final negotiations with Vietnam to complete its first bilateral agreement under a new agriculture visa scheme to plug workforce shortages across the sector.

Page 5: The federal government could create up to 80,000 new universities places at no extra cost if students are restricted to a single commonwealth-supported undergraduate degree, a Centre for Independent Studies paper says.

Page 6: Cost of living and healthcare have emerged as the top priorities for Australian voters ahead of the May federal election, with new polling revealing the Morrison government cannot rely on its pandemic management record to win a fourth term.

Page 15: A battery start-up spun out of the University of Sydney plans to use a London sharemarket listing to accelerate a push for its technology to be used for both power generation and electric vehicles to meet soaring demand.

Insurance coverage for businesses hit by a cybersecurity breach is becoming more expensive and harder to find, senior industry figures have warned.

Page 16: The iron ore price is "still in good shape" but could face headwinds in the short term from reduced steel mill profitability, pandemic interruptions to logistics and better volumes coming out of Western Australia and Brazil, broker Morgans says.

Gold junior Westar Resources is looking to raise up to $2m to advance its Western Australian gold aspirations, with its directors and management backing the raising to the tune of $100,000.

Page 17: The stars have aligned themselves for the best Easter on record in the nation's $350bn retail sector, with the absence of lockdowns and travel restrictions combining with pent-up savings and the lateness of the Easter weekend in the calendar to promise a bumper holiday season.

 

 

The West Australian

Page 5: WA will get a $2.1 billion injection for roads and key rail infrastructure — creating 5500 jobs — as part of the Morrison Government’s pre-election Budget on Tuesday.

The Morrison Government will double the number of places in its Home Guarantee Scheme to help more Australians into their own homes and ease cost-of-living pressures.

Page 7: The man who wants to be Australia’s next Treasurer has categorically ruled out a mining tax on WA’s resources sector saying he’ll stand up for the State, which he claims has been undervalued by the Morrison Government.

Page 15: In a major boost to international and domestic travel for West Australians, the biggest low-cost airline in Asia is coming back to Perth from mid-May.

Business: WA resources companies contributed $100 billion to the national economy in 12 months, according to an industry survey that the peak body says is proof of the sector’s overwhelming influence on the nation.

Surging intrastate traffic at Perth Airport has prompted QantasLink to add four more 180-seat Airbus A320 planes to its fleet in WA to meet demand from the resources market and tourist traffic.

Ardea Resources boss Andrew Penkethman expects nickel will soon be designated a critical mineral in Australia as demand continues to surge.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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