Savings war chest to drive recovery
Households and businesses have stockpiled more than $200 billion of extra savings and asset prices have recovered, giving the Morrison government confidence there is plenty of financial firepower to drive the economic recovery as emergency stimulus spending winds down. The Fin
Baz’s offer to host 118-year-old event
City of Perth Lord Mayor Basil Zempilas has offered an “alternative home” to the Perth Royal Show, after the organisers accused the Town of Claremont of mounting a “long-running campaign” to push them out of Claremont Showground. The West
ACCC goes into battle against Facebook, Apple and Google
The head of the competition watchdog is vowing to launch a regulatory war against Facebook, Apple and Google this year including investigations across the digital advertising and app markets, warning the tech giants’ dominance poses a danger to consumers and the competition landscape. The Fin
Border bans ‘mean strikes hit harder’
Resources employers are demanding greater barriers to industrial action due to concerns that coronavirus restrictions and states’ hard borders will exacerbate the impact of strikes on major projects. The Fin
We won’t take your coal, says Beijing
Beijing has instructed the owners of more than $1bn of banned Australian coal to find new buyers outside China, as President Xi Jinping’s administration scuttles the $14bn export trade and ramps up pressure on the Morrison government. The Aus
Not enough Pfizer vaccine available
The nation’s top doctor says it has not been feasible to secure more supplies of Pfizer’s coronavirus vaccine despite negotiations and rebuffed calls to pause the rollout of the AstraZeneca vaccine. The Fin
Labor wants Lew to repay JobKeeper cash
Labor’s assistant treasury spokesman, Andrew Leigh, says billionaire retailer Solomon Lew and his Premier Investments have showed ‘‘extraordinary insensitivity’’ to Australians out of work because of COVID-19’s fallout, demanding the company repay an estimated $45 million in government handouts. The Fin
Our $2bn Vatican mistake: Austrac
International financial watchdog Austrac has told the Senate it over-estimated bank transfers from the Vatican City to Australia for the past six years by more than $2bn. The Aus
Probuild shock ‘to hit foreign deals’
The federal government’s surprise move to block China State Construction’s $300m buyout of Australian-based builder Probuild on security grounds will send a warning to all foreign investors looking to bid for Australian assets, investment bankers have warned. The Aus
WA spared brunt of COVID
Successful containment of COVID-19 cases in WA has resulted in the State being the least impacted by the pandemic, a new report shows. The West
The Australian Financial Review
Page 1: Households and businesses have stockpiled more than $200 billion of extra savings and asset prices have recovered, giving the Morrison government confidence there is plenty of financial firepower to drive the economic recovery as emergency stimulus spending winds down.
The head of the competition watchdog is vowing to launch a regulatory war against Facebook, Apple and Google this year including investigations across the digital advertising and app markets, warning the tech giants’ dominance poses a danger to consumers and the competition landscape.
Page 2: Google is actively ‘experimenting’ with its search and news algorithm to bury links from commercial Australian media outlets for some users.
Page 3: Resources employers are demanding greater barriers to industrial action due to concerns that coronavirus restrictions and states’ hard borders will exacerbate the impact of strikes on major projects.
Page 5: The nation’s top doctor says it has not been feasible to secure more supplies of Pfizer’s coronavirus vaccine despite negotiations and rebuffed calls to pause the rollout of the AstraZeneca vaccine.
Page 7: Cinema operators face a ‘‘terminal’’ threat if Hollywood studios follow Warner Bros and allow blockbuster movies to be streamed online at the same time they are released on the big screen, research house IBISWorld warns.
Page 8: The federal government is looking at giving Australians a choice between higher superannuation contributions or higher take-home pay, a proposal put forward by the Australian Council of Social Service and an Australian National University economist.
Page 13: Labor’s assistant treasury spokesman, Andrew Leigh, says billionaire retailer Solomon Lew and his Premier Investments have showed ‘‘extraordinary insensitivity’’ to Australians out of work because of COVID-19’s fallout, demanding the company repay an estimated $45 million in government handouts.
Page 14: Bleak times are ahead for the aviation sector as the global recovery stalls following the emergence of more infectious strains of COVID-19 in Britain and South Africa, the International Air Transport Association warns.
Page 15: Australia’s newest ASX-listed telco, Aussie Broadband, has laid its first fibre connections in Melbourne, the first step in a $67 million transformation of the business to fibre network operator from broadband retailer.
The Australian
Page 1: International travellers arriving in Queensland will be sent to remote workers camps under a plan state authorities are considering after an outbreak of the UK strain of COVID-19 in a Brisbane quarantine hotel.
Beijing has instructed the owners of more than $1bn of banned Australian coal to find new buyers outside China, as President Xi Jinping’s administration scuttles the $14bn export trade and ramps up pressure on the Morrison government.
Page 3: International financial watchdog Austrac has told the Senate it over-estimated bank transfers from the Vatican City to Australia for the past six years by more than $2bn.
Page 4: Hospitals have stopped using convalescent plasma from coronavirus sufferers to treat seriously ill patients, after groundbreaking research by an Australian-led global consortium of intensive care doctors found the treatment was causing more harm than good.
Page 13: Retailers surged following a better than expected sales update from the owner of Just Jeans, Smiggle and Peter Alexander, in a sign that the economy is on a fast-track to recovery despite the Christmas COVID flare-up.
The federal government’s surprise move to block China State Construction’s $300m buyout of Australian-based builder Probuild on security grounds will send a warning to all foreign investors looking to bid for Australian assets, investment bankers have warned.
Page 14: Newcrest Mining has ticked off on the first stage of construction of its Havieron deposit in Western Australia, throwing $146m towards early works after receiving government approval to start work on a new mine at the emerging discovery.
Three failed companies linked to Black & White Cabs owe creditors more than $20m as the taxi sector continues to struggle with the growing ride-share sector and COVID-19.
The West Australian
Page 4: Failing to wear a face mask at a WA airport now attracts a fine of up to $50,000 after new directions enforcing a decision of National Cabinet came into effect.
Page 5: One in five WA tourism businesses say they face closure or having to shed staff due to travel uncertainty caused by border closures if JobKeeper is not extended beyond March.
Page 7: City of Perth Lord Mayor Basil Zempilas has offered an “alternative home” to the Perth Royal Show, after the organisers accused the Town of Claremont of mounting a “long-running campaign” to push them out of Claremont Showground.
Business: Successful containment of COVID-19 cases in WA has resulted in the State being the least impacted by the pandemic, a new report shows.
An extraordinary recovery in LNG prices has lit a fire under Woodside Petroleum, sending its shares to a 10-month high as a cold snap in Europe and northern Asia catches out power providers.
CES, the annual gadget show that showcases the best in tech, looks different this year — less Vegas glitz, more internet efficiency.
Prevailing iron ore prices of about $US170 a tonne are unsustainable, according to UBS.
