VIRUS DISEASES

PM’s cash splash to save jobs

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Original article by Simon Benson, Geoff Chambers
The Australian – Page: 1 & 4 : 12-Mar-20

Prime Minister Scott Morrison is confident that all necessary legislation for the federal government’s economic stimulus package will be passed in the last sitting week of Parliament prior to the Budget in May. The package will cost almost $18bn in total, in addition to the government’s $2.4bn health plan in response to the coronavirus. Small and medium enterprises will be a focus of the package; they will receive a cash payout of between $2,000 and $25,000, plus a wage subsidy to ensure that they continue to employ apprentices. The threshold for the instant asset write-off will be increased from $30,000 to $150,000. The stimulus package will rule out a Budget surplus for 2019-20.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Grocery delivery delay as online orders soar

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 10-Mar-20

Online grocery sales rose 45 per cent year-on-year in the four weeks to 22 February, according to Nielsen Homescan data. The surge in demand has been attributed to the coronavirus crisis, with consumers wanting to secure supplies of products such as toilet paper and paper towels. Coles and Woolworths are struggling to keep up with online demand, and Coles is advising consumers to collect orders rather than have them delivered. It is also giving priority to the elderly, the sick and those with special needs.

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THE NIELSEN COMPANY (AUSTRALIA) PTY LTD, COLES GROUP LIMITED – ASX COL, WOOLWORTHS GROUP LIMITED – ASX WOW

Building shortages threaten site shutdowns

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Original article by Rosie Lewis, Ben Packham
The Australian – Page: 6 : 10-Mar-20

Australian Shop & Office Fitting Industry Association CEO Gerard Ryan says its members are looking at delays to projects of up to six weeks because the corona­virus outbreak is delaying the supply of products from overseas. The outbreak has also prompted calls for a national security strategy to boost the nation’s stocks of medicine and fuel. Industry Minister Karen Andrews says the federal government is looking to increase local manufacturing to help ease supply chain disruptions, although she says she is hearing anecdotally that "the supply chains are OK".

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AUSTRALIAN SHOP AND OFFICE FITTING INDUSTRY ASSOCIATION

LNG riding out virus but risks remain

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 5-Mar-20

Data from EnergyEdge shows that the Queensland Curtis LNG project’s shipments have fallen by six per cent so far in 2020, while Australia Pacific LNG’s export volumes are down two per cent. EnergyEdge says this is partly due to the Queensland government’s restrictions on port access by Chinese bulk carriers. EnergyEdge expects the Santos-backed Gladstone LNG venture to record an 18 per cent increase in shipments for the March quarter. GLNG does not have any customers in China, although coronavirus-hit South Korea accounts for 47 per cent of its shipments.

CORPORATES
ENERGYEDGE, QUEENSLAND CURTIS LNG PTY LTD, AUSTRALIA PACIFIC LNG LIMITED, GLADSTONE LNG PTY LTD, SANTOS LIMITED – ASX STO, ROYAL DUTCH SHELL PLC, ORIGIN ENERGY LIMITED – ASX ORG