Iron ore fuels ASX record
The Australian sharemarket and the price of the economy’s biggest export, iron ore, roared to records on the eve of the federal budget, fuelled by fresh signals that the economy is running at breakneck speed and completing the final piece in its V-shaped recovery. The Fin
APA, Woodside drop WA hydrogen project, move to greener pastures
Gas pipeline giant APA Group and partner Woodside Petroleum have ditched their proposed renewable hydrogen project in Western Australia after they failed to win government support in the latest funding round, while the successful applicants race towards development. The Fin
Surging businesses in fight for resources
Businesses are knocking back orders and competing with each other for workers and materials in an attempt to keep up with a furious economic comeback that has led to all-time highs in business confidence and conditions. The Fin
Growthpoint keen as Centuria eyes Primewest
Centuria Capital’s planned merger with West Australian real estate group Primewest may not be as much of a sure bet as some had thought, with sources suggesting that Growthpoint Properties Australia is still hanging around the hoop. The Aus
Tax overhaul to attract global talent
An overhaul of employee share schemes and the tax treatment of foreign investors and financial service providers will be unveiled in tonight’s federal budget, as part of a package of measures designed to attract global talent to Australia. The Fin
Higher super could eat into pay packets
Workers with salaries paid on an ‘‘including super’’ basis may be in for a shock on July 1, with almost two-thirds of firms using this remuneration structure planning to reduce employee pay to cover the increase in the superannuation guarantee. The Fin
Women in full-time job freefall
There are 25,000 fewer West Australian women in full-time jobs today than prior to the pandemic, prompting calls for the removal of barriers preventing mothers from returning to work. The West
Tourism bodies demand clear border timeline
The Morrison government should establish a clear and realistic time frame for reopening international borders to allow the return of overseas visitors and facilitate the revival of Australia’s $50 billion tourism sector, according to industry leaders. The Fin
Woolies could return $2b in demerger
Woolworths plans to hand back as much as $2 billion if shareholders approve the $12 billion demerger of its drinks and hotels business, and could return even more capital if the newly independent Endeavour Group is embraced by investors. The Fin
WA worst for super gender gap
Western Australia has the largest superannuation gender gap in the country, according to the peak body owned by the industry super sector, with the median super balance for WA women just $45,200. The West
The Australian Financial Review
Page 1: The Australian sharemarket and the price of the economy’s biggest export, iron ore, roared to records on the eve of the federal budget, fuelled by fresh signals that the economy is running at breakneck speed and completing the final piece in its V-shaped recovery.
An overhaul of employee share schemes and the tax treatment of foreign investors and financial service providers will be unveiled in tonight’s federal budget, as part of a package of measures designed to attract global talent to Australia.
Page 3: Workers with salaries paid on an ‘‘including super’’ basis may be in for a shock on July 1, with almost two-thirds of firms using this remuneration structure planning to reduce employee pay to cover the increase in the superannuation guarantee.
The chairman of Western Australia’s Gaming and Wagering Commission says the state’s chief casino officer stood down only because of media attention on his friendship and fishing trips with staff at Crown Perth.
Page 4: People between the ages of 50 and 64 are the most likely to downsize from the family home, making the Morrison government superannuation contribution incentive a likely trigger for up to $10 billion in property sales next year.
Page 6: Businesses are knocking back orders and competing with each other for workers and materials in an attempt to keep up with a furious economic comeback that has led to all-time highs in business confidence and conditions.
Page 9: The Morrison government should establish a clear and realistic time frame for reopening international borders to allow the return of overseas visitors and facilitate the revival of Australia’s $50 billion tourism sector, according to industry leaders.
Page 12: Woolworths plans to hand back as much as $2 billion if shareholders approve the $12 billion demerger of its drinks and hotels business, and could return even more capital if the newly independent Endeavour Group is embraced by investors.
Page 14: Fertiliser and explosives producer Incitec Pivot is counting the cost of more breakdowns at its troubled ammonia plant in the US state of Louisiana.
Rural carrier Regional Express believes it will break even in its first year of running interstate flights between capital cities, and says its unencumbered cash holdings have risen ten-fold since the pandemic nadir of last March.
Page 16: Gas pipeline giant APA Group and partner Woodside Petroleum have ditched their proposed renewable hydrogen project in Western Australia after they failed to win government support in the latest funding round, while the successful applicants race towards development.
Page 19: Australian mortgage industry fintech disrupter Athena Home Loans has broken the record for the largest capital raise completed entirely from local backers, banking $90 million in funding as its loan book booms.
Former prime minister and ‘‘self-managed retiree’’ Malcolm Turnbull has continued his spate of investments in cyber security start-ups, joining the register of Cado Security, an Australian-founded, London-based company that lets organisations perform a forensic assessment of their cloud-based systems.
The Australian
Page 1: A post-COVID jobs boom will slash the forecast budget deficit by $53bn this year, in a stunning fiscal recovery driven by higher income tax receipts and a greatly reduced welfare bill.
Page 2: Christine Holgate has taken on her former employer Australia Post in the court of public opinion, and now she will also be competing with its most profitable arm in her new role as chief executive of rival delivery company Toll Global Express.
Page 3: Federal Education Minister Alan Tudge has accused unions of running a scare campaign after Queensland teachers were encouraged to withdraw their own children from sitting the NAPLAN test.
Page 14: More potential bidders are coming out of the woodwork for Crown Resorts, with sources pointing to the Hong Kong-listed CC Land Holdings as a party eyeing up the prized casino operator.
Centuria Capital’s planned merger with West Australian real estate group Primewest may not be as much of a sure bet as some had thought, with sources suggesting that Growthpoint Properties Australia is still hanging around the hoop.
Page 15: The nation’s $50bn LNG industry could be the latest victim of trade tensions between Canberra and Beijing, with reports that several Chinese importers have been told not to buy from Australia.
Page 20: A surge in iron ore prices provided a sugar hit to the Australian sharemarket, which hit a fresh 14-month high in early trade on Monday.
The West Australian
Page 3: The Indian travel ban has been upheld by the Federal Court, which ruled that barring Australians from returning home from the virus-ravaged country was both a proportionate response and permitted by the Biosecurity Act.
Page 6: Suicide prevention and treatment will headline a $2 billion funding injection in tonight’s Federal Budget.
The predicted iron ore price will be revised up in tonight’s Federal Budget, with the Morrison Government conceding it will remain high for some time.
Business: Western Australia has the largest superannuation gender gap in the country, according to the peak body owned by the industry super sector, with the median super balance for WA women just $45,200.
There are 25,000 fewer West Australian women in full-time jobs today than prior to the pandemic, prompting calls for the removal of barriers preventing mothers from returning to work.
Artemis Resources is understood to be raising $10 million in a placement to fund more aggressive drilling campaigns at its Pilbara gold-copper projects.
