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

Cyber spy agency on high alert over hack

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Original article by Ben Packham
The Australian – Page: 1 & 2 : 24-Dec-20

More than 18,000 companies and government agencies worldwide are believed to have been targeted by the SolarWinds cyber-attack. The Australian Cyber Security Centre is assessing whether the computer systems of any government departments and agencies have been compromised. The SolarWinds Orion software is used by federal agencies such as the Department of Defence, Home Affairs and Austrade. Sergei Shevchenko, the co-founder of cybersecurity firm Prevasio, says that even if SolarWinds clients have not been targeted, they should assume that they are vulnerable to second-stage attacks.

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AUSTRALIAN SIGNALS DIRECTORATE. AUSTRALIAN CYBER SECURITY CENTRE,AUSTRALIA. DEPT OF DEFENCE,AUSTRALIA. DEPT OF HOME AFFAIRS,AUSTRADE,PREVASIO

Office staff get to keep pandemic flex time

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Original article by David Marin-Guzman
The Australian Financial Review – Page: Online : 24-Dec-20

The Fair Work Commission has extended flexible working arrangements for employees who are covered by the clerks award until the end of June 2021. The ordinary hours of work for clerical employees while telecommuting were extended beyond traditional working hours earlier in 2020, in response to the coronavirus. The FWC has also introduced additional flexibilities with regard to the hours of work for clerical staff while working from home.

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AUSTRALIA. FAIR WORK COMMISSION

Australia did 2020 pretty damn good

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Original article by Terry McCrann
Herald Sun – Page: 45 : 24-Dec-20

Despite the spectacular failure of Victoria’s first hotel quarantine program – which has accounted for nearly 90 per cent of Australia’s COVID-19 death toll – the nation’s policymakers have handled the pandemic remarkably well. Three factors enabled the nation to get it right – not perfect, but right – in containing the virus and balancing the economic and medical costs of the pandemic. Closing the nation’s international borders prevented an outbreak on the scale seen in Europe, while the national lockdown and stimulus measures ensured that the decline in economic growth in the June quarter was limited to just seven per cent.

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COVID-19 reinfections are likely much worse than we know

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Original article by Jill Margo
The Australian Financial Review – Page: Online : 24-Dec-20

More than 78 million people worldwide have contracted COVID-19, although there have been just 31 confirmed and 2,200 suspected cases of reinfection to date. However, Professor Ivo Mueller from the Walter & Eliza Hall Institute of Medical Research believes that the number of reinfections has been underestimated; he says the genome sequencing data that is necessary to confirm two separate infections is often not available, while many reinfections may not be detected because the person is asymptomatic. There has been one confirmed case of reinfection in Australia, and just two confirmed deaths from reinfection worldwide.

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WALTER AND ELIZA HALL INSTITUTE OF MEDICAL RESEARCH

Beijing a buyer in Shell gas facilities

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Original article by Perry Williams
The Australian – Page: 2 : 24-Dec-20

The deal for Global Infrastructure Partners to buy a stake in the Queensland Curtis LNG project’s infrastructure could potentially be vetoed on national interest grounds. It has been revealed that China Investment Corporation is a minority investor in the GIP fund that struck the $US2.5bn ($3.3bn) deal to buy part of Shell’s stake in the LNG infrastructure. The deal must be cleared by the Foreign Investment Review Board, although Treasurer Josh Frydenberg can override the FIRB under changes to foreign investment rules that were made earlier in 2020.

CORPORATES
GLOBAL INFRASTRUCTURE PARTNERS,QUEENSLAND CURTIS LNG PTY LTD,CHINA INVESTMENT CORPORATION,ROYAL DUTCH SHELL PLC,AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD,AUSTRALIA. DEPT OF THE TREASURY

Rio, traditional owners healing Juukan Gorge wounds

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Original article by Brad Thompson
The Australian Financial Review – Page: Online : 24-Dec-20

Resources giant Rio Tinto and the Puutu Kunti Kurrama and Pinikura traditional owners have issued a joint statement about future co-operation in the wake of the destruction of ancient indigenous rock shelters in May 2020. The PKKP Aboriginal Corporation acknowledged that Rio Tinto has taken action to address the "hurt and devastation" caused by the blasting at Juukan Gorge, but noted that much more work must be done to ensure that similar incidents do not occur in the future.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Iron ore seen supported near $US180 a tonne into January

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Original article by Timothy Moore
The Australian Financial Review – Page: Online : 24-Dec-20

The spot price of iron ore fell by more than eight per cent in recent days, but Westpac is bullish about the outlook for the steel input in 2021. Justin Smirk of Westpac says iron ore inventories at Chinese ports remain at cyclical lows compared to steel production and imports, while the price of benchmark iron ore is trading at a significant premium to domestic Chinese iron ore. Westpac now expects iron ore to be fetching $US130 per tonne in March, compared with its previous forecast of $US105/tonne.

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WESTPAC BANKING CORPORATION – ASX WBC

Foxtel, Telstra extend AFL rights deal

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Original article by Max Mason
The Australian Financial Review – Page: Online : 24-Dec-20

Foxtel has secured a deal with the Australian Football League to extend its existing broadcasting rights deal by two years. Telstra has also extended its rights deal to include the 2023 and 2024 seasons, while the Seven Network struck a similar deal earlier in 2020. The three companies will pay a combined $946m for broadcasting and streaming rights for the 2023 and 2024 seasons. Telstra will also become the official technology partner of Melbourne’s Marvel Stadium, which is owned by the AFL.

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FOXTEL MANAGEMENT PTY LTD,TELSTRA COMMUNICATIONS PVT LTD,AUSTRALIAN FOOTBALL LEAGUE,SEVEN NETWORK LIMITED,SEVEN WEST MEDIA LIMITED – ASX SWM

Premiers’ $3bn blow to tourism

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Original article by Joe Kelly
The Australian – Page: 1 & 5 : 24-Dec-20

Modelling shows that the tourism sector will be hard hit by moves by state governments to close their borders to travellers from New South Wales during the Christmas holiday period. The modelling undertaken by Stafford Strategy on behalf of the Tourism & Transport Forum shows that Australians are set to spend about $2.6bn between 24 December and 11 January, compared with the annual average of around $5.5bn for the period. Federal Tourism Minister Dan Tehan says state borders should be re-opened as soon as possible to support the domestic tourism industry, while TTF CEO Margy Osmond warns that the sector will need ongoing government support.

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STAFFORD STRATEGY,TOURISM AND TRANSPORT FORUM AUSTRALIA,AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS