10/05/2022 - 07:06

Morning Headlines

10/05/2022 - 07:06

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Morning Headlines

BP grabs Pilbara hydrogen hub stake

BP is set to take a major stake in the $US36bn ($48bn) Asian Renewable Energy Hub in the Pilbara, in a move that could catapult the global oil and gas giant into the hydrogen space at large scale. The Aus

Virus relief saved jobs, but at a cost of $112,819 each

The $89 billion JobKeeper wage subsidy rushed in during the pandemic cost about $112,819 per annual job saved, according to a new independent analysis by economists for the Australian National University. The Fin

Mining giant restarts shuttered nickel concentrator

BHP Nickel West’s idled Kambalda concentrator has sprung back to life after processing the first parcel of ore from Mincor’s restarted nickel operations in the area. The West

TPG last out the door with $950m tower sale

TPG Telecom has sold its mobile tower and rooftop infrastructure network to Canadian pension fund OMERS for almost $950 million, in an effort to limit balance sheet pressure while a network sharing deal with Telstra secures coverage. The Fin

Ban could fleece industries

Western Australia’s lucrative sheep industries could become “unsustainable” and “more susceptible to market volatility” if Federal Labor’s plan to ban live exports is implemented, a leading analyst says. The West

Means test to go under Labor plan for child care

The shadow early childhood education minister says Labor’s childcare reforms will improve Australia’s international education ranking and has defended not means testing access to its proposed subsidy. The West

‘Skills passport’ for tech works

Australians working in the tech industry will be given access to a “skills passport” that will record all of their qualifications – from degrees to certificates to micro-credentials – in one place. The Aus

Landmark job deal struck for gig workers

The Transport Workers Union has struck a landmark agreement with the food delivery platform DoorDash that opens the way for better conditions for drivers by backing the need for enforceable industry-wide standards set by an independent body. The Aus

Coalition refuses to match ‘reckless’ $400m health pledge

Anthony Albanese says his social housing and climate change policies will be paid for by interest made “in the long run” as he rejected the proposition that deficits would balloon by $52bn if Labor was elected in May. The Aus

 

 

The Australian Financial Review

Page 1: Retail electricity prices are expected to jump by up to 10 per cent on July 1 following a surge in wholesale prices in the past year, despite claims from the Coalition and Labor that prices are going to stay low or fall after the May 21 election.

Page 7: Prime Minister Scott Morrison has seized on Opposition Leader Anthony Albanese’s admission that he cannot guarantee real wage increases, saying it shows there is ‘‘no magic wand’’ to boost pay packets despite Labor’s complaints about stagnant growth.

Page 11: The $89 billion JobKeeper wage subsidy rushed in during the pandemic cost about $112,819 per annual job saved, according to a new independent analysis by economists for the Australian National University.

Page 14: Westpac will focus on rebuilding its performance in investor mortgages and adding business bankers, setting a cautious tone for the post-2022 outlook, says chief executive Peter King.

Tech billionaire Mike Cannon-Brookes says AGL Energy’s almost total disregard of the need to decarbonise in the documentation for its demerger will persuade many institutional shareholders to vote against the split.

Page 17: TPG Telecom has sold its mobile tower and rooftop infrastructure network to Canadian pension fund OMERS for almost $950 million, in an effort to limit balance sheet pressure while a network sharing deal with Telstra secures coverage.

Cimic, Australia’s biggest construction group, has stopped trading on the Australian Securities Exchange, ending 60 years as a publicly listed company as it is folded into Spanish contractor Grupo ACS.

 

 

The Australian

Page 1: Children will be taught about their “eco identity’’, safe dating and giving clear sexual consent, in a new national curriculum that combines back-to-basics rigour in maths and English with “woke” schoolwork.

Page 2: The Transport Workers Union has struck a landmark agreement with the food delivery platform DoorDash that opens the way for better conditions for drivers by backing the need for enforceable industry-wide standards set by an independent body.

Page 4: Anthony Albanese says his social housing and climate change policies will be paid for by interest made “in the long run” as he rejected the proposition that deficits would balloon by $52bn if Labor was elected in May.

Australians working in the tech industry will be given access to a “skills passport” that will record all of their qualifications – from degrees to certificates to micro-credentials – in one place.

Page 6: Former foreign affairs minister Alexander Downer has branded Solomon Islands Prime Minister Manasseh Sogavare a “rogue” who is holding his country back, amid a crisis in Australia’s relations with its Pacific neighbour.

Page 13: BP is set to take a major stake in the $US36bn ($48bn) Asian Renewable Energy Hub in the Pilbara, in a move that could catapult the global oil and gas giant into the hydrogen space at large scale.

Guzman y Gomez, the fast-growing chain of Mexican restaurants, is proposing to lend its own chief executive and co-founder more than $45m to allow him to purchase shares in the company.

Page 14: Woolworths South Africa is understood to have recently set up a data room for two Australian private equity funds to weigh a potential acquisition of David Jones.

Page 17: A tribunal has ordered a wealthy Beetaloo Basin pastoralist who believes onshore gas development cannot coexist with the cattle industry to allow explorers onto his land and set the compensation payable at 1000-fold below what the pastoralist demanded.

Page 20: Apple has hit out at proposals from Australian’s competition watchdog that could force it to open its app store to third-parties, labelling the changes “draconian” and  “not articulated with cogent evidence”.

 

 

The West Australian

Page 1: The State’s under-fire ambulance service issued an unprecedented warning on Monday that there was “likely to be a delay” for anyone calling triple-0 as the ramping crisis reached new heights.

Page 6: Perth’s average petrol price has been tipped to once again break the $2 per litre barrier next week — just days before voters head to the ballot box.

Page 7: The shadow early childhood education minister says Labor’s childcare reforms will improve Australia’s international education ranking and has defended not means testing access to its proposed subsidy.

Page 14: Perth’s biggest council could soon impose an overnight curfew on hired e-scooters, amid concerns over safety, noise and antisocial behaviour.

Page 16: The WA MP accused of sexually abusing an eight-year-old girl has had his bail conditions amended so he can attend a Queensland symposium discussing medicinal cannabis.

Business: Rising interest rates and inflation will crunch national economic growth and consumers’ discretionary spending, Westpac boss Peter King says, and a rise in mortgage stress is “inevitable”.

Qantas customers will be able to use loyalty points to buy every seat on more than 1700 flights, but WA frequent flyers are limited to just two services.

Orion Minerals has struck a draft $US87 million ($124m) funding deal for its Prieska zinc-copper project in South Africa.

Business owners say consumers will expect bricks and mortar stores to provide experiences beyond the sale of products and services, as the pandemic sparks a renewed need for human interaction.

BHP Nickel West’s idled Kambalda concentrator has sprung back to life after processing the first parcel of ore from Mincor’s restarted nickel operations in the area.

Western Australia’s lucrative sheep industries could become “unsustainable” and “more susceptible to market volatility” if Federal Labor’s plan to ban live exports is implemented, a leading analyst says.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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