Pandemic plan as virus spreads
Treasurer Josh Frydenberg said sectors affected by the coronavirus will rebound quickly once the crisis has passed, but the situation shows little sign of ending with the government considering extending travel bans beyond China and planning for the crisis to be declared a global pandemic. The Fin
ATO probes Rio on its pricing of aluminium
Rio Tinto’s struggling Australian aluminium business is the subject of a transfer pricing probe by the Australian Tax Office, adding to the complexity of talks with governments over a possible rescue package for Rio’s lossmaking local smelters. The Fin
Libs and Nats split over 2050 climate target
The Liberal Party and Nationals are on different pages over climate change with Liberals keeping the door open to adopting a 2050 emissions reduction strategy or target while the junior Coalition partner opposes either concept outright. The Fin
Aussies ‘to land 60pc of work on subs’
The French company building Australia’s $80bn Future Submarines says Australian companies will get at least 60 per cent of work on the boats but it won’t make a contractual commitment to the target for another two years. The Aus
Albanese urged to rethink nuclear option
Nuclear energy options will be canvassed in the Morrison government’s technology investment plan, amplifying pressure from senior ALP figures and unions for Anthony Albanese to reconsider his opposition to nuclear in support of Labor’s zero net emissions target. The Aus
BlueScope sees profits dive on virus output hit
Steelmaker BlueScope says its China division won’t make any profit in the June half as output from its four main plants in that country is severely curtailed by the coronavirus outbreak, and as it grapples with logistics disruptions in the supply chain.
Perenti not the only one still chasing Downer’s mining
More than two weeks after bids landed, Downer and its bankers at Macquarie Capital remain in dialogue with potential acquirers, including the much-talked about offer from ASX-listed Perenti. The Fin
Autonomous cars ‘won’t kill insurance’
The chief customer officer of Insurance Australia Group says driverless cars will not kill the insurance sector, but they will substantially change how the industry operates. The Fin
NAPLAN exposes spelling laziness
WA children of migrants from non-English speaking backgrounds are better at spelling than many of their classmates from English-speaking families. The West
Albany oyster farm purchase puts pearl in Twiggy’s crown
Andrew Forrest’s Harvest Road Group is set to buy a major oyster farm in Albany and invest a further $16 million to ramp up production and enhance its land-based operations. The West
The Australian Financial Review
Page 1: Treasurer Josh Frydenberg said sectors affected by the coronavirus will rebound quickly once the crisis has passed, but the situation shows little sign of ending with the government considering extending travel bans beyond China and planning for the crisis to be declared a global pandemic.
Page 2: A cash-strapped Morrison government is considering leasing warships to alleviate an upcoming budget crunch for the Defence Department as construction gets under way on a slew of multi-billion-dollar projects.
Page 3: ASIO has disrupted a locally-based ‘‘sleeper agent’’ who helped organise a campaign of harassment against dissidents and aided foreign spies who travelled to Australia, amid an unprecedented level of espionage and interference.
Page 4: The Liberal Party and Nationals are on different pages over climate change with Liberals keeping the door open to adopting a 2050 emissions reduction strategy or target while the junior Coalition partner opposes either concept outright.
A beefed-up demand management scheme that could see aluminium smelters and others fully paid for powering down when electricity demand peaks is one of several recommendations to strengthen the power grid to be made to federal and state energy ministers next month.
Page 8: Governments are cranking up spending, central banks are chopping rates and some countries expect to see their economies contract in the first quarter as the effects of COVID-19 ripple outward.
Page 11: Steelmaker BlueScope says its China division won’t make any profit in the June half as output from its four main plants in that country is severely curtailed by the coronavirus outbreak, and as it grapples with logistics disruptions in the supply chain.
Page 12: More than two weeks after bids landed, Downer and its bankers at Macquarie Capital remain in dialogue with potential acquirers, including the much-talked about offer from ASX-listed Perenti.
Rio Tinto’s struggling Australian aluminium business is the subject of a transfer pricing probe by the Australian Tax Office, adding to the complexity of talks with governments over a possible rescue package for Rio’s lossmaking local smelters.
Page 19: The Reserve Bank of Australia is being encouraged to conduct detailed trials involving issuance of a digital version of the Australian dollar to ensure the country is not left behind as dozens of global central banks seek to repel private sector cryptocurrencies such as Facebook’s Libra with national versions.
Page 20: Logistics giant Toll Group has said its main online customer service MyToll is set to be fully restored this week, more than three weeks after it was taken down by a ransomware cyber attack.
Page 21: The chief customer officer of Insurance Australia Group says driverless cars will not kill the insurance sector, but they will substantially change how the industry operates.
The Australian
Page 2: Australia has opened the door to more travel bans on arrivals from other countries seeking to contain coronavirus outbreaks as South Korea, Japan and Italy struggle with the illness.
Page 3: Education Minister Dan Tehan has vowed to work with the states and territories to improve student results after a report into average national student scores revealed Australian students’ critical literacy and numeracy skills were languishing.
Page 4: The French company building Australia’s $80bn Future Submarines says Australian companies will get at least 60 per cent of work on the boats but it won’t make a contractual commitment to the target for another two years.
Page 5: Nuclear energy options will be canvassed in the Morrison government’s technology investment plan, amplifying pressure from senior ALP figures and unions for Anthony Albanese to reconsider his opposition to nuclear in support of Labor’s zero net emissions target.
Page 9: Malaysia’s master manipulator, Mahathir Mohamad, has thrown the government into chaos by resigning as Prime Minister over a failed coup by rebel supporters seeking to form a new coalition government.
Page 18: Private equity activity is heating up in the financial space, with Westpac’s wealth management arm BT Financial Group under the spotlight.
Page 19: Australia Post chief executive Christine Holgate is confident she can defend profitability this year despite the decline of its letters business, after delivering a near-50 per cent slump in first-half profit.
Page 22: The prudential regulator has flagged more intense supervision of the financial risks associated with climate change, including two key projects to be completed by the end of next year.
Digital bank Volt is partnering with billionaire Nigel Austin’s Cotton On Group to tap into four million customers in the retailer’s loyalty program and its employees, amid an intensifying battle by new banks to win customers from incumbents.
The West Australian
Page 3: WA children of migrants from non-English speaking backgrounds are better at spelling than many of their classmates from English-speaking families.
Page 6: Australians may not have fresh orange juice for breakfast in as little as five years if big retailers don’t pay more to growers.
Page 10: Roadworks can be an “easy target” and “cops a bit of a bad rap” but a top executive at the Australian contractor behind the State’s Smart Freeways development vows the company is doing its best to deliver massive transformation for WA motorists “safely and quickly”.
WA teachers are being urged to recognise the importance of geography as a school subject in helping students understand the links between climate change and bushfires.
Page 14: The McGowan Government is denying it faked a milestone moment when a tunnel-boring machine completed its 8km journey on the trouble-plagued Forrestfield Airport Link project.
Business: A fleet of more than 150 wind turbine blades, each longer than a 747 aeroplane, is making a 200km trip through WA’s mid west.
Andrew Forrest’s Harvest Road Group is set to buy a major oyster farm in Albany and invest a further $16 million to ramp up production and enhance its land-based operations.
Perth Airport is once again the best in Australia.
Perth-based electric scooter player Vmoto has entered a company-defining joint venture agreement with its Chinese partner Super Soco.
The Australian grain industry will focus research dollars on reducing its carbon footprint, expecting it can increase farmer profitability in the process.
