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Trial phases of COVID-19 vaccines developed by Melbourne researchers given cash boost

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Original article by Alanah Frost
Herald Sun – Page: Online : 3-Jan-21

The federal government has announced $10.1 million in funding for six clinical trials relating to COVID-19 vaccines, including two vaccines that are being developed by Melbourne researchers. Teams at the Peter Doherty Institute for Infection and Immunity are among those involved in the development of the two vaccines, which can be readily modified to combat COVID-19 mutations. Phase 1 clinical trials of the vaccines are due to begin in mid-2021, while the federal government will maintain its plans to roll out the Pfizer vaccine in March

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UNIVERSITY OF MELBOURNE. PETER DOHERTY INSTITUTE FOR INFECTION AND IMMUNITY

More than $1b wrongly taken out of super

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Original article by Ronald Mizen
The Australian Financial Review – Page: 6 : 4-Jan-21

Just under $36 billion had been withdrawn from superannuation under the federal government’s coronavirus early release scheme when the scheme closed at midnight on 1 January. The Australian Taxation Office has estimated that over $1 billion could have been incorrectly withdrawn by people who were not eligible for the scheme, but the ATO has noted that compliance with the scheme was very high. Superannuation Minister Senator Jane Hume contends the pandemic has made people pay more attention to how their super is being managed, but critics of the scheme claim it will have an adverse impact on people’s retirement savings.

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AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF FINANCE

Avalon outbreak inflicted $3.2bn hit

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Original article by Patrick Commins
The Australian – Page: Online : 4-Jan-21

The lockdown of Sydney’s northern beaches because of a COVID-19 outbreak is expected to have resulted in 34 million fewer hours being worked in December, according to modelling by KPMG. KPMG estimates this reduction in working hours would have inflicted a $3.2 billion hit to the economy, and would have reduced Treasury’s forecast that the Australian economy would grow by 3.2 per cent over the three months to December by 0.7 per cent. The Tourism and Transport Forum has separately predicted that Australians would spend $2.6 billion between Christmas Eve and 11 January, compared to an annual average of $5.5 billion in previous years, with the TTF representing large Australian hotel and travel businesses

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KPMG AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, TTF AUSTRALIA LIMITED TOURISM AND TRANSPORT FORUM

Blackmore plays long game on vitamins

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Original article by Simon Evans
The Australian Financial Review – Page: Online : 4-Jan-21

Marcus Blackmore stepped down from the board of vitamins maker Blackmores in late October, though he remains its biggest shareholder, with a 21.5 per cent stake. The company was started by his father in 1932, while Marcus Blackmore served as a director for 47 years. He says Blackmores’ shares may struggle to find favour with investors for some time to come, as it is among the stocks with "China exposure". Blackmore says COVID-19 has reinforced the need for people to take care of their health and to look after their immune system.

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BLACKMORES LIMITED – ASX BKL

99 Bikes says global snags hit imports

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Original article by Liam Walsh
The Australian Financial Review – Page: Online : 4-Jan-21

Matt Turner says that delivery times for importing bicycles from China is now double what it would be normally be. Turner is the CEO of Pedal Group, the company behind the 99 Bikes retail brand, with the surge in delivery times a combination of increased global demand for bikes and logistical issues. Turner’s comments come as Pedal Group reported a 51 per cent revenue jump to $199.9 million for the 2020 financial year, with post-tax profits up from $3.4 million to $12.4 million.

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PEDAL GROUP PTY LTD, 99 BIKES PTY LTD

NSW records eight new COVID-19 cases, infections at BWS Berala put authorities on edge

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Original article by Paige Cockburn
abc.net au – Page: Online : 4-Jan-21

New South Wales recorded eight new cases of locally acquired COVID-19 on 3 January, with five of the eight cases linked to the BWS Berala cluster in Sydney’s west. There is a health alert for anyone who visited the BWS bottle shop on 20 December, and between 22 and 31 December, with over 2,000 people who visited the store having already been contacted by NSW Health. The Berala cluster has now increased to 13, and NSW Chief Health Officer Kerry Chant says it is very concerning that transmission of the virus has occurred during only very brief visits to the store.

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Climate risk to hit insurance premiums

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Original article by David Ross
The Australian – Page: 15 : 4-Jan-21

The results of an Australian Competition and Consumer Commission inquiry into insurance in Northern Australia were released in the week ending 1 January. The ACCC has called on the federal government to directly subsidise insurance premiums in Australia’s tropical north, with some insurance companies stating in submissions to the inquiry that they expect to start pricing for climate change risks for customers in that part of the nation. The ACCC noted that home insurance premium growth across northern Australia rose 178 per cent between 2007 and 2019, compared to a 52 per cent rise in the rest of the country over the same period. The ACCC also called for the scrapping of stamp duty on insurance products, which is imposed by state and territory governments.

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AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Directors warn of gradual recovery

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Original article by Damon Kitney, Glenda Korporaal
The Australian – Page: 13 & 17 : 4-Jan-21

The Australian Institute of Company Directors’ final sentiment survey for 2020 revealed that 80 per cent of directors expect an increase in mergers and acquisitions over the coming year. BlueScope Steel, Fortescue and Dexus director Penny Bingham-Hall has told an AICD round table forum that there is a lot of overseas money looking to "find a home" at the moment, while Amcor and ANZ director Graeme Liebelt told the forum that there was a risk that business expectations might get ahead of reality in 2021.

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AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, BLUESCOPE STEEL LIMITED – ASX BSL, FORTESCUE METALS GROUP LIMITED – ASX FMG, DEXUS – ASX DXS, AMCOR LIMITED – ASX AMC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COLES GROUP LIMITED – ASX COL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SANTOS LIMITED – ASX STO

House prices surge again as stimulus keeps market pumping

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Original article by Michael Bleby
The Australian Financial Review – Page: Online : 4-Jan-21

Figures to be released by CoreLogic on 4 January are expected to show that house prices in Australia’s five mainland capital cities rose by 0.9 per cent in December. Brisbane house prices are predicted to have risen 1.2 per cent in December, Melbourne is tipped to show an one per cent increase, while Sydney house prices are expected to have risen 0.7 per cent. AMP Capital chief economist Shane Oliver says house prices are being pushed up by a range of factors, including record low mortgage rates, but issues such as high unemployment and subdued rental markets are likely to weigh on inner city areas and units in Sydney and Melbourne.

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CORELOGIC AUSTRALIA PTY LTD, AMP CAPITAL INVESTORS LIMITED

Double dose of SCG a boost for India

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Original article by Peter Lalor
The Australian – Page: Online : 4-Jan-21

The Indian cricket team stated on 3 January that they will not travel to Brisbane if they are forced to comply with strict quarantine requirements that would see them restricted to their hotel rooms while not playing. The team has made it clear from the beginning that one quarantine period was their limit, while the Queensland government has indicated it is not prepared to relax its quarantine rules for people coming from Sydney for the Indian cricket team. Unless the government backs down or the Indian team has a change of heart, there will be two Tests in a row at the SCG, a ground that the Indians traditionally do well at.

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