Gresham tows Woodside into talks on North West Shelf funding.
Gresham tows Woodside into talks on North West Shelf funding
Gresham Partners is riding shotgun as Woodside Petroleum stalks Chevron’s $US3 billion-plus stake in Australia’s largest oil-producing oil and gas project, the North West Shelf. The Fin
FMG in $2m royalty claim
A Pilbara Aboriginal group claims Fortescue Metals Group owes them almost $2 million in royalty payments. The West
Labor to deny tax cuts for top earners
Federal Labor is likely to go to the next election promising to scale back the stage three income tax cuts, rather than revoke them, to avoid a Coalition campaign accusing it of denying further tax relief to the lower paid. The Fin
IMF backs State’s hard border
One of the world’s peak economic bodies has backed tight lockdown measures such as WA’s hard border, saying they mitigate the negative economic impact of COVID-19 if done early and if “sufficiently stringent”. The West
Peace plea ahead of barley appeal
Australian grain growers have appealed to the Chinese and Australian governments to mend their differences as they await news on an appeal against tariffs that have decimated the $1.2bn barley trade with China. The Aus
Aussies stuck abroad face long wait as list grows to 29,000
Amid a deadly resurgence of the coronavirus in parts of Europe and North America, the number of stranded Australians waiting to return from overseas has grown to more than 29,100. The Fin
CBA cops 21pc protest over executive pay
Commonwealth Bank of Australia narrowly avoided a first strike over plans to change how it pays its top bankers while copping a significant protest vote against a $1.6 million gift of shares to chief executive Matt Comyn. The Fin
One million ‘lost’ in lockdown
More than a million Australians have sought mental health treatment during the COVID-19 pandemic, while ongoing lockdowns in Victoria have sparked a social crisis, with a 30 per cent rise in cases in the past four weeks. The Aus
BHP sidesteps protest vote after mine deal with Aboriginal groups
BHP will face one less hurdle at its annual shareholder meeting on Wednesday evening after shareholder activist groups withdrew a motion calling on the company to adopt a moratorium on mine development that would disturb heritage sites until new laws protecting them are adopted. The Aus
Crown board shaken by vast extent of Packer influence
The Crown Resorts board has been further shaken by testimony from three independent directors, pointing to the outsized influence of gaming mogul James Packer even after his departure from the company, in damaging evidence to the NSW independent liquor and gaming authority’s inquiry into the suitability of Crown holding a casino license in the state. The Aus
The Australian Financial Review
Page 1: The rattled premiers of NSW and Victoria have flagged easing lockdown restrictions, as the leaders of the nation’s two biggest states refused to resign in the face of no-confidence motions in their parliaments.
Federal Labor is likely to go to the next election promising to scale back the stage three income tax cuts, rather than revoke them, to avoid a Coalition campaign accusing it of denying further tax relief to the lower paid.
Page 2: Amid a deadly resurgence of the coronavirus in parts of Europe and North America, the number of stranded Australians waiting to return from overseas has grown to more than 29,100.
Page 3: Employers and legal experts have said a union deal to immunise employers from civil penalties if they inadvertently underpay workers but quickly backpay them is a significant and pragmatic walk back from their hard line on wage theft.
Page 8: Australia’s economic slump this year will be shallower than the International Monetary Fund expected just three months ago, but tax reform and the elimination of wasteful spending may well be needed to ensure record debt levels are serviceable.
Productivity gains from increasing subsidies for childcare are overstated, as are suggestions it ‘‘pays for itself’’, according to an economist who advised the Productivity Commission when it conducted its last review into the sector.
Page 12: China’s President Xi Jinping has embarked on a tour of the country’s high-tech hubs and special economic zones in the south as state media suggest he is preparing to unveil a new round of economic reforms to shore up the country’s slowing economy and counter growing pressure from the United States.
Page 13: Commonwealth Bank of Australia narrowly avoided a first strike over plans to change how it pays its top bankers while copping a significant protest vote against a $1.6 million gift of shares to chief executive Matt Comyn.
Telstra will review its dividend ratio policy to protect the payout of 16¢ a share, as it seeks to save its reputation as one of the most reliable income stocks on the Australian Securities Exchange.
Page 14: Gresham Partners is riding shotgun as Woodside Petroleum stalks Chevron’s $US3 billion-plus stake in Australia’s largest oil-producing oil and gas project, the North West Shelf.
Page 17: Andrew Forrest’s Fortescue Metals Group remains bullish about the iron ore trade with China despite diplomatic tensions and bans on Australian coal imports.
Page 19: An offer by Cleanaway Waste Management chief Vik Bansal to forgo his entire almost $570,000 short-term incentive bonus following an independent probe into bullying allegations was overruled by the Mark Chellew-chaired board despite knowing it was at least the fourth time the boss had been formally accused of toxic conduct.
The Australian
Page 1: More than a million Australians have sought mental health treatment during the COVID-19 pandemic, while ongoing lockdowns in Victoria have sparked a social crisis, with a 30 per cent rise in cases in the past four weeks.
Page 6: Some of the nation’s most important submarines, surface ships and aircraft have been out of action for tens of thousands of hours more than expected, despite a $4.2bn blowout in running costs over the past four years.
Page 7: University chiefs have told senators that Scott Morrison’s push to veto the sector’s deals with foreign entities is a foreign interference “elimination strategy” that will hurt the economy, as upper house MPs pummeled higher education leaders over their members’ links to China.
Page 9: Pilbara traditional owners have told a Senate inquiry $1.9m in royalties was withheld from them by Fortescue Metals Group over their refusal to sign mining tenure agreements.
Page 15: Australian grain growers have appealed to the Chinese and Australian governments to mend their differences as they await news on an appeal against tariffs that have decimated the $1.2bn barley trade with China.
Page 17: The Crown Resorts board has been further shaken by testimony from three independent directors, pointing to the outsized influence of gaming mogul James Packer even after his departure from the company, in damaging evidence to the NSW independent liquor and gaming authority’s inquiry into the suitability of Crown holding a casino license in the state.
Page 18: BHP will face one less hurdle at its annual shareholder meeting on Wednesday evening after shareholder activist groups withdrew a motion calling on the company to adopt a moratorium on mine development that would disturb heritage sites until new laws protecting them are adopted.
The West Australian
Page 7: One of the world’s peak economic bodies has backed tight lockdown measures such as WA’s hard border, saying they mitigate the negative economic impact of COVID-19 if done early and if “sufficiently stringent”.
Page 14: A Federal parliamentary inquiry into the copyright spat over the Aboriginal flag has said the flag’s copyright should not be compulsorily acquired by the Federal Government.
Page 18: NSW Premier Gladys Berejiklian looks as though she will hang on to her job despite damaging revelations about her personal life, but her week from hell is far from over.
Page 19: The McGowan Government has been accused of concealing a $4.1 billion “election slush fund” in the State Budget handed down last week, with shadow treasurer Dean Nalder blasting the fiscal blueprint as “weak, insipid and lazy”.
Business: A Pilbara Aboriginal group claims Fortescue Metals Group owes them almost $2 million in royalty payments.
The mining sector is feeling the effects of a workforce squeeze amid buoyant conditions and WA’s hard border closure.
AngloGold Ashanti’s Australia boss Michael Erickson has refused to be drawn on whether the Johannesburg-based miner is a potential buyer of the 30 per cent stake in the Tropicana gold operation held by its joint venture partner IGO.
BHP’s Nickel West has outlined its “green” mining credentials at the Diggers & Dealers forum in Kalgoorlie after reports it was in line for a big supply deal with electric vehicle giant Tesla.
Perth City has the highest office vacancy rates in Australia as scores of people remain working from home, despite it being more than six months since WA recorded a COVID case linked to community transmission.
A pilot program to turbocharge Indigenous entrepreneurs — supported by billionaires Andrew and Nicola Forrest — is to be unveiled today.
Virgin Australia chief executive Paul Scurrah could be on the way out, according to industry sources.
A Toodyay farm, with links to WA live export pioneers Graham Daws and Mike Stanton, could fetch up to $14 million after hitting the market.
