Author: roymorgansocial

ATP Tour shuts down for six weeks because of outbreak

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Original article by Russell Fuller
bbc.com – Page: Online : 13-Mar-20

The ATP has cancelled all tournaments on the men’s ATP Tour and ATP Challenger Tour until 27 April, due to growing concerns about the impact of the coronavirus outbreak. ATP chairman Andrea Gaudenzi says the decision was not an easy one, but it believed it was in the best interest of players, staff and the broader tennis community. The ATP says the impact of the cancellation of matches on world rankings will be considered carefully, while the Women’s Tennis Association has not yet announced its stance on upcoming tournaments.

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ATP TOUR WOMEN’S TENNIS ASSOCIATION

Warning virus could hit 20pc of NSW population

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Original article by Bo Seo Tom McIlroy
The Australian Financial Review – Page: 11 : 13-Mar-20

New South Wales chief medical officer Kerry Chant said on 12 March that COVID-19 could infect up to 20 per cent of the state’s population. Chant’s comments came as the number of COVID-19 cases in Australia rose past 150, with 78 of those being in NSW. International travel has now been banned for all federal MPs, while Prime Minister Scott Morrison has asked the government’s expert panel for advice on whether Australia should follow the US’s lead and ban all travel from Europe. NSW Health Minister Brad Hazzard said there were fears the COVID-19 outbreak could extend into the flu season, and he urged everyone to get their flu shots.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET NEW SOUTH WALES. MINISTRY OF HEALTH

May budget ready to add to stimulus

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 13-Mar-20

The federal government’s $17.6 billion stimulus package includes a one-off $750 payment to all welfare recipients, with the payment to be tax-free. The package also includes an increase in the instant asset write-off from $30,000 to $150,000. The measure will apply until 30 June, and will be available to businesses with turnover of up to $500 million, up from the current threshold of $50 million. Other measures include a $1 billion payment to a regional and community fund that will assist businesses most badly impacted by the coronavirus, along with a 50 per cent wage subsidy for apprentices that will provide up to $21,000 to employers.

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Italy’s crisis could end the euro

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Original article by Robert Gottliebsen
The Australian – Page: Online : 13-Mar-20

Italy is facing financial collapse, and this could mean an end to the euro. Of all the nations that adopted the euro, Italy has suffered the most from doing so. Under the lira, its ‘business model’ relied on regular devaluations of its currency. However, once it adopted the euro, it no longer had this option. It needed to increase its productivity to compete with other Eurozone nations, but this did not occur. The coronavirus means that Italy’s tourist industry is at risk of collapse, and its debt-to-GDP ratios could increase to more than 150 per cent by the end of 2020.

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Grand prix rocked by pit lane virus fear

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Original article by John Stensholt, Damon Johnston, Stephen Lunn
The Australian – Page: 1 & 5 : 12-Mar-20

The Australian Formula One Grand Prix is still expected to go ahead on 15 March, but fans could be locked out if three members of the Haas and McLaren teams test positive for the coronavirus. They have been placed in isolation pending the outcome of the tests. All three recently arrived in Australia, and spectators will be forced to watch the race on TV if they test positive and are deemed to have caught the virus in Australia. The opening race of the F1 season at Albert Park had been expected to attract more than 300,000 fans over four days.

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AUSTRALIAN FORMULA ONE GRAND PRIX

Politics is killing productivity, says McKibbin

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 12-Mar-20

Professor Warwick McKibbin of the Australian National University warns that productivity reform will not be achieved without support from both sides of politics. The former Reserve Bank board member has told a business summit that the political system is the biggest hurdle to achieving such reform. Meanwhile, Business Council of Australia CEO Jennifer Westacott has called for an overhaul of the enterprise bargaining regime, arguing that it is no longer working.

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AUSTRALIAN NATIONAL UNIVERSITY, RESERVE BANK OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA

BHP loses epic tax battle

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Original article by Nick Evans
The Australian – Page: 20 : 12-Mar-20

The High Court has ruled in the Australian Taxation Office’s favour in a long-running tax dispute with BHP over its marketing hub in Singapore. BHP will have to pay an additional $US87m ($125m) in tax for the income years 2006 to 2018 after the court ruled that its Australian and British arms are ‘associates’ for tax purposes. A spokesman has noted that the resources group has paid some $71bn in taxes and royalties in Australia over the last decade.

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BHP GROUP LIMITED – ASX BHP, AUSTRALIAN TAXATION OFFICE

Anderson bows out of Ten amid ViacomCBS revamp

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 12-Mar-20

US media giant ViacomCBS has advised that it will not replace Ten Network CEO Paul Anderson following his sudden resignation. It will instead appoint co-leads for the free-to-air network. A management restructuring will also result in Ten’s chief content officer Beverley McGarvey being promoted to the same role across ViacomCBS’s operations in Australia and New Zealand. Meanwhile, KordaMentha partner Henriette Rothschild has been appointed as ViacomCBS’s interim chief transformation officer.

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TEN NETWORK HOLDINGS LIMITED, VIACOMCBS INCORPORATED

Telstra offers affected staff 14 days’ leave pay

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Original article by Ewin Hannan
The Australian – Page: 4 : 12-Mar-20

The ACTU has urged the federal government to underwrite two weeks’ paid leave for all permanent, casual and contract workers who are directly affected by the coronavirus outbreak. The proposal has been rejected by employers’ group and Industrial Relations Minister Christian Porter. Meanwhile, Telstra has advised that all employees whose jobs mean they cannot work from home – such as technicians and store staff – will receive 14 days of paid leave if they are forced to self-isolate or must care for children due to the closure of schools or child-care centres. Less than 10 per cent of Telstra staff cannot work from home.

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ACTU, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, TELSTRA CORPORATION LIMITED – ASX TLS

Guardian journalist unpaid for five weeks

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Original article by David Ross
The Australian – Page: 3 : 12-Mar-20

The Australian arm of news publisher The Guardian has provided extensive coverage of the wage underpayments scandal in recent months. However, freelance journalist Russell Jackson has claimed that The Guardian itself has not paid him for five articles that he wrote in January. The Guardian’s Australian editor, Lenore Taylor, has described this as "unacceptable" and said she will ensure that the matter is resolved. Jackson has previously been the news publisher’s deputy sports editor.

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THE GUARDIAN AUSTRALIA