Author: roymorgansocial

Thousand in isolation as Qld cluster grows

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Original article by Charlie Peel
The Australian – Page: 7 : 1-Apr-21

Queensland has recorded two new locally-acquired cases of COVID-19 in the last 24 hours; both are linked to Brisbane’s second cluster, which has increased to 11. The new cases are a nurse at Brisbane’s Princess Alexandra Hospital and her housemate. The nurse is one of two healthcare workers who have contracted the virus from an international traveller who had arrived in Brisbane from India. One new COVID-19 case has also been reported in hotel quarantine in Queensland. The state government will make a decision on whether to end Greater Brisbane’s three-day lockdown at 9am on 1 April. At present the lockdown is scheduled to end at 5pm.

CORPORATES
PRINCESS ALEXANDRA HOSPITAL

Australian Greens to propose 6% wealth tax on billionaires to combat inequality

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Original article by Paul Karp
The Guardian Australia – Page: Online : 29-Mar-21

The Greens will call for 700 per cent of Australia’s energy needs to be produced from renewable energy sources as part of their ‘Fight for the Future’ policy. The policy also calls for a six per cent wealth tax on billionaires, for public schools, universities and Tafe to be free, and for a jobs and income guarantee. The proposed wealth tax would see mining magnates Gina Rinehart and Andrew Forrest hit with tax increases of $2.2 billion and $586 million respectively, while the Greens will urge voters to elect a minority Labor government and give them the balance of power in both houses of parliament at the next election.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY

Mine export surge holds up economy

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Original article by Angela Macdonald-Smith, John Kehoe
The Australian Financial Review – Page: 1 & 4 : 29-Mar-21

The federal government expects the value of Australia’s resources and energy exports to top $296bn in 2020-21, after a record $291bn in the previous financial year. The surge in export earnings will be driven by iron ore; the Department of Industry, Science, Energy & Resources now expects iron ore earnings to total $136bn, compared with its forecast in December of $123bn for the financial year. However, exports of LNG, thermal coal and coking coal are forecast to be lower in 2020-21. The record resources and energy exports will boost the Budget bottom line, with the full-year deficit now expected to be $150bn.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Lockdown unlikely as Queensland’s Covid cluster grows

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Original article by Mackenzie Scott
The Australian – Page: 7 : 29-Mar-21

Queensland has recorded one new locally-acquired COVID-19 case in the last 24 hours, but health authorities say the man has already recovered and is no longer infectious. He is the brother of a 26-year-old Brisbane man who tested positive on 26 March; a friend of the landscape gardener has also tested positive. Meanwhile, there are two new cases in hotel quarantine, and a total of 71 active cases across the state. Chief Health Officer Jeannette Young is optimistic that Greater Brisbane will not have to be locked down ahead of the Easter long weekend, but says it is too soon to rule anything out. A total of seven new cases have been reported in hotel quarantine nationwide in the last 24 hours.

CORPORATES
QUEENSLAND HEALTH

Treasurer warns of subsidy dangers

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Original article by Geoff Chambers, Richard Ferguson
The Australian – Page: 1 & 6 : 29-Mar-21

Treasurer Josh Frydenberg says the federal government will continue to provide economic stimulus following the end of the JobKeeper scheme on 28 March. He has flagged further targeted support for sectors that have been hardest hit by the COVID-19 pandemic, and says the wage subsidy scheme had ‘stemmed the tide’ of coronavirus-induced job losses. However, he cautions that fiscal discipline is also necessary to prevent higher taxes and higher debt in the future. Shadow treasurer Jim Chalmers says JobKeeper should have been extended in a "responsible, temporary, and targeted fashion", and he has warned that the Coalition will be responsible for any job losses in coming weeks.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Regional papers concern

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Original article by Miranda Ward
The Australian Financial Review – Page: 29 : 29-Mar-21

Country Press Australia is holding talks with both Facebook and Google regarding the news media bargaining code. CPA represents the publishers of 160 regional newspapers nationwide; its negotiations have come at a time when there is growing concern that the Facebook News product will have limited relevance to regional newspapers as it is focused primarily on national news. Australian Community Media is also in talks with Facebook, while it secured a deal with Google in late 2020.

CORPORATES
COUNTRY PRESS AUSTRALIA INCORPORATED, FACEBOOK INCORPORATED, FACEBOOK AUSTRALIA PTY LTD, GOOGLE INCORPORATED, GOOGLE AUSTRALIA PTY LTD, AUSTRALIAN COMMUNITY MEDIA PTY LTD

Forrest’s LNG import vital to avoid shortfall

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 7 : 29-Mar-21

Andrew Forrest’s proposed LNG import terminal at Port Kembla in New South Wales is tipped to inject up to 500 terajoules of gas into the domestic market per day, beginning in January 2023. Nicola Falcon from the Australian Energy Market Operator says the project comes at a critical time, with current gas production in Victoria falling at a faster rate than was previously forecast. The Port Kembla project is expected to cost in the vicinity of $250 million and is one of six LNG import projects being flagged for NSW, Victoria and South Australia.

CORPORATES
AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

E-commerce is booming: PwC

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Original article by Eli Greenblat
The Australian – Page: 15 : 29-Mar-21

PwC has reported that non-food online sales recorded more than five years’ growth in just 11 months, due to the pandemic. The increase in both food and non-food online sales during the pandemic was reflected in the latest reporting season, with Woolworths reporting that its online sales rose by 92 per cent in the December half, while furnishings and bedding retailer Adairs advised that its online sales had increased by 95.2 per cent. Pure-play online marketplace Kogan stated that its sales rose almost 90 per cent, while Myer’s online sales increased by 71 per cent. Vanessa Brennan from PwC says that the consumer is "now in charge" and that this means that innovation is "now business as usual".

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, WOOLWORTHS GROUP LIMITED – ASX WOW, ADAIRS LIMITED – ASX ADH, MYER HOLDINGS LIMITED – ASX MYR, KOGAN.COM LIMITED – ASX KGN

Andrew Laming to quit politics after unacceptable behaviour

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Original article by
SBS News – Page: Online : 29-Mar-21

The Liberal-National Party has confirmed that Queensland MP Andrew Laming will not contest the next federal election. The announcement came one day after a woman accused him of taking a picture of her bottom on his mobile phone in 2019, and two days after he apologised for trolling two women from his constituency online. The announcement that Laming would step down from Parliament had been made by Treasurer Josh Frydenberg, who said that Laming’s behaviour had been "unacceptable".

CORPORATES
LIBERAL-NATIONAL PARTY OF QUEENSLAND, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Floods to lift reinsurance costs: Youi

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Original article by Liam Walsh
The Australian Financial Review – Page: 17 : 29-Mar-21

The Insurance Council of Australia notes that more than 25,600 insurance claims arising from the recent floods in New South Wales and Queensland have been lodged to date. Youi CEO Hugo Schreuder says the insurer has already received about 1,000 claims, and he warns that the floods may result in higher reinsurance costs. This could in turn increase the insurance premiums of customers. Meanwhile, the ICA is concerned that so-called ‘disaster chasers’ could increase the final cost of the floods, by encouraging policyholders to make claims that were not directly linked to the floods.

CORPORATES
INSURANCE COUNCIL OF AUSTRALIA LIMITED, YOUI PTY LTD