Original article by Patrick Commins The Australian – Page: 18 : 9-Jan-20
Elizabeth Buchanan from the Department of Defence’s Australian War College says the oil price would be the "first casualty" if the US were to retaliate after Iran’s missile strikes on its bases in Iraq. She says Iran would be likely to use oil as a weapon against the US and its allies, warning that the latter are likely to be hardest hit as the US is now largely oil self-sufficient. Buchanan warns that Australia is particularly vulnerable given that most of its liquid fuel is imported and the nation has no emergency fuel stocks.
CORPORATES AUSTRALIA. DEPT OF DEFENCE. AUSTRALIAN WAR COLLEGE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, INTERNATIONAL ENERGY AGENCY
Original article by Matthew Cranston The Australian Financial Review – Page: 3 : 9-Jan-20
New figures show that there was an 11.8 per cent increase in building approvals in November, which was the strongest monthly growth since February. Approvals for high-density housing developments increased by 21 per cent in November, for an annual growth rate of six per cent. Tom Kennedy of JP Morgan notes that building approvals data tends to be volatile, but he adds that the latest figures suggest that approvals have begun to stabilise.
CORPORATES JP MORGAN AUSTRALIA LIMITED, BIS OXFORD ECONOMICS PTY LTD, RESERVE BANK OF AUSTRALIA, URBAN TASKFORCE AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC
Original article by David Rogers The Australian – Page: 13 & 18 : 9-Jan-20
The price of Brent crude oil has peaked at a four-month high in response to Iran’s missile attacks, while the spot gold price reached an 11-year high. The Australian dollar fell to a three-week low, but the local sharemarket closed only slightly down after clawing back initial losses. Kyle Rodda of IG Markets has downplayed the prospect of a US-Iran war, noting that this would not be in the strategic interests of either country. AMP Capital’s Shane Oliver warns that geopolitical risk will remain an issue in 2020.
CORPORATES IG MARKETS LIMITED, AMP CAPITAL INVESTORS LIMITED, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT
Kitchener Open-Cut Mine at Bamboo Creek (Haoma Mining NL) filling with water after Cyclone Blake dumps copious amounts of precipitation on Western Australia’s Pilbara Region near Marble Bar – January 8, 2020.
Flooding rains at Bamboo Creek (Haoma Mining NL) after Cyclone Blake dumps significant precipitation on WA’s Pilbara Region near Marble Bar – January 8, 2020.
Picture of creek filled with flooding rains at Bamboo Creek (Haoma Mining NL) after Cyclone Blake dumps significant precipitation on WA’s Pilbara Region near Marble Bar – January 8, 2020.
Picture of creek filled with flooding rains at Bamboo Creek (Haoma Mining NL) after Cyclone Blake dumps significant precipitation on WA’s Pilbara Region near Marble Bar – January 8, 2020.
Picture of Kitchener Open-Cut Mine at Bamboo Creek (Haoma Mining NL) filling with water after Cyclone Blake dumps copious amounts of precipitation on Western Australia’s Pilbara Region near Marble Bar – January 8, 2020.
Picture of Kitchener Open-Cut Mine at Bamboo Creek (Haoma Mining NL) filling with water after Cyclone Blake dumps copious amounts of precipitation on Western Australia’s Pilbara Region near Marble Bar – January 8, 2020.
Picture of Kitchener Open-Cut Mine at Bamboo Creek (Haoma Mining NL) filling with water after Cyclone Blake dumps copious amounts of precipitation on Western Australia’s Pilbara Region near Marble Bar – January 8, 2020.
Picture of Kitchener Open-Cut Mine at Bamboo Creek (Haoma Mining NL) filling with water after Cyclone Blake dumps copious amounts of precipitation on Western Australia’s Pilbara Region near Marble Bar – January 8, 2020.
Original article by Dana McCauley The Age – Page: Online : 8-Jan-20
The federal government’s Disaster Recovery Allowance provides people who have been directly affected by the bushfires to receive up to 13 weeks of income support. However, the United Workers Union’s Helen Gibbons contends that this will be insufficient for many bushfire victims, adding that casual workers in particular will be hard hit by loss of income due to the fires. Retail & Fast Food Workers Union secretary Josh Cullinan notes that many casual workers are reluctant to stay at home despite feeling sick from smoke haze and heat from the bushfires.
CORPORATES UNITED WORKERS UNION, RETAIL AND FAST FOOD WORKERS UNION INCORPORATED, ACTU, THE AUSTRALIAN INDUSTRY GROUP
Original article by Rob Harris The Australian – Page: Online : 8-Jan-20
Andrew Colvin, the head of the National Bushfire Recovery Agency, has stressed that its disaster relief strategy will be tailored to the unique needs of each community that has been affected by the fires. He adds that the NBRA will only be successful if it works closely with other agencies to ensure that affected communities receive the support they need. Colvin has also given assurances that the NBRA will seek to minimise bureaucratic hurdles for fire-affected communities.
CORPORATES AUSTRALIA. NATIONAL BUSHFIRE RECOVERY AGENCY
Original article by Rachel Baxendale, David Ross The Australian – Page: 5 : 8-Jan-20
The national death toll from Australia’s bushfire season stands at 24, after New South Wales police confirmed that two men who had been reported missing have been located. Some 60 fires remain out of control in NSW, while 14 fires are still burning in Victoria. There is concern that separate fires near Corryong in Victoria and in southern New South Wales could merge to form a ‘mega-blaze’, particularly with hot weather forecast for later in the week. Meanwhile, 672 homes in NSW have been destroyed in bushfires so far in 2020, and 1,588 have been lost since the bushfire season began.
Original article by Max Mason The Australian Financial Review – Page: 15 : 8-Jan-20
GroupM expects Australia’s advertising market to record growth of about five per cent in 2020, compared with four per cent in 2019. Nicola Lewis of Group expects major digital platforms such as Facebook and Google to drive growth in the sector. She also expects traditional media companies to record "modest" growth in advertising revenue. Lewis adds that there could be further growth in the broadcast video-on-demand market as consumers upgrade to new TVs.
Original article by The Australian – Page: 18 : 8-Jan-20
The US subsidiary of Australian-listed Ioneer Limited has agreed to suspend exploration work at a lithium project on federal land in Nevada. This follows concerns that mining would pose a threat to a rare species of desert wildflower called Tiehm’s buckwheat, which is found only in Nevada’s Silver Peak Range. The Center for Biological Diversity had launched legal action against the Trump administration in a bid to stop further exploration at Ioneer’s tenements in order to protect the wildflower. The lawsuit was withdrawn after Ioneer USA agreed to put exploration on hold.
CORPORATES IONEER LIMITED – ASX INR, CENTER FOR BIOLOGICAL DIVERSITY
Original article by Joyce Moullakis The Australian – Page: 13 & 14 : 8-Jan-20
The insurance industry has received some $700m worth of bushfire-related claims since September, according to data from the Insurance Council of Australia. More than 3,700 claims have been submitted to Insurance Australia Group to date, and CEO Peter Harmer says this figure could rise significantly in coming months. Harmer is among the insurance industry executives who met with federal Treasurer Josh Frydenberg on 7 January to discuss the need for a nationally co-ordinated response to the bushfire crisis. He has described the talks as "very constructive".
CORPORATES INSURANCE COUNCIL OF AUSTRALIA LIMITED, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, AUSTRALIA. DEPT OF THE TREASURY, SUNCORP GROUP LIMITED – ASX SUN, QBE INSURANCE GROUP LIMITED – ASX QBE
