Financial Review – Business, Finance and Investment News | afr.com

Financial Review - Business, Finance and Investment News | afr.com

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  • Iron ore
Iron ore.

A 13 per cent rally in Australia’s most important export commodity has further to run, helping to kick-start the nation’s economy.

  • Iron ore futures hit record as virus hits Brazil supply
  • China flags more foreign investment as trade tensions flare
  • China relations
Barley tariffs have been imposed.

Australian barley growers have become collateral damage in the increasing tensions between Canberra and Beijing.

  • Coronavirus pandemic
Jane Halton

Former senior public servant and corporate leader Jane Halton says there will be a “stampede” for a coronavirus vaccine.

  • Coronavirus pandemic

The decision by Premier Gladys Berejiklian will be the state’s biggest step towards normalisation of life since the pandemic began and affect 800,000 children and teenagers.

  • Live
  • Coronavirus pandemic

Plus public schools go back in NSW and there are warnings of the threat from “vaccine nationalism”. Follow our live coronavirus blog here.

  • Trade

China has warned it will take action against the United States over restrictions on tech giant Huawai as trade hostilities with Washington and Canberra escalate.

  • Industrial relations

The Industrial Relations Minister says the bargaining system has to get back to its original aim of designing terms and conditions specific to a workplace and advancing productivity.

Boral CEO Mike Kane.
  • Rear Window
Hero Sushi admitted it was offering the illegal rates to keep wages at 25 per cent of sales.
  • Wage scandal
Members of the Order esports team in Melbourne.
  • eSports
tracking the numbers 
  • Coronavirus pandemic

How the coronavirus is changing markets, business and politics.

Coronavirus: Need to know. Our daily reporting, in your inbox.

  • How to create a ‘mini UBS’, Grounds style
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  • Village people: three banks, two law firms, one boutique in BGH/VRL deal
    • 9.33pm
    • Musical chairs: PE prepare first round bids for retailer SoundBay
      • 9.32pm
        • Meet the Wall Street legend now fighting for Virgin
        • How AI could help tell Virgin bidders from pretenders
        • Australia’s next tech unicorn
        • A parting gift from Boral’s Mike Kane?
        • Cellmid hanging on TGA approval, like we said
        • Tanning tycoon Blair James leases Lamborghini

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        • Coronavirus pandemic

        The coronavirus pandemic is dominating global markets, business and politics. Here’s our daily take on the most important stories, and some things to watch out for.

        • Coronavirus pandemic
        Firms need to plan for changes in opening rules says Neville Power, Chair of the National COVID-19 Coordination Commission

        The COVID-19 recovery team has developed a planning tool for firms to comply with changing operational environment.

        • Coronavirus pandemic
        Q&As

        A leading COVID-19 expert has warned of the risks of pre-symptomatic cases as McDonald’s Australia shuts 12 restaurants.

        • Aviation

        A sample of 500 people will fly from San Francisco to the Taiwanese capital in a trial conducted in co-operation with Stanford University.

        • Illness

        Some businesses are staying away still, but others are adopting innovative strategies to prevent infection spreading.

        • Commuter chaos
        Governments are worried that cities will clog up if too many people drive when they go back to work.

        NSW Transport Minister Andrew Constance has warned that traffic congestion will return as the state restricts how many people can get on buses, trains and ferries.

        • Opinion
        • Coronavirus pandemic
        Even a shocking 10 per cent jobless figure might be achieved only with a lower participation rate.

        A cold turkey ending to JobKeeper and JobSeeker would mean a double-dip recession. But that is a risk that the government can avoid.

        • Cinema
        Village Roadshow runs Movie World and Sea World on the Gold Coast.

        BGH Capital is in takeover talks with Village Roadshow for up to $468.5 million, ending months of speculation.

        • Big four
        "Nothing can be ruled out," says Westpac executive Jason Yetton of the bank's "specialist businesses" review.

        “The strategic review will consider all options and nothing can be ruled out,” said Westpac’s new CEO of specialist businesses, Jason Yetton.

        • Construction

        The engineering group’s liquidation of its New Zealand assets is not going smoothly, with one creditor demanding the liquidators be replaced.

        • Regulation

        The Australian Finance Industry Association will talk to consumer groups to tighten a code of conduct including looking at more prescriptive fee caps and suitability assessments.

        • Mining

        Rio Tinto has been surprised by a new Mongolian government plan to build a state-owned power station for the Oyu Tolgoi mine.

        • Iron ore
        An investor push for Rio Tinto to expand its carbon-reduction targets to include its customers' emissions has escalated.

        Shares in Australia’s iron ore miners have surged as supply and demand factors push prices for the base metal sharply higher.

        • Market Wrap
        SYDNEY, AUSTRALIA - MARCH 10: An electronic display of stocks is seen at the Australian Stock Exchange on March 10, 2020 in Sydney, Australia.The Australian sharemarket suffered one of its worst days, dropping 7.3 per cent and losing 136 billion in value as oil prices plummeted amid fears over the spread of coronavirus. Wall Street trading was temporarily halted as the Dow Jones Industrial Average tumbled 7.8 per cent on Monday and Britain's stock market suffered its worst day since the 2008 financial crisis. (Photo by Mark Evans/Getty Images)

        The Australian sharemarket closed higher for a second straight day, buoyed by the resources sector and stronger gold and iron ore prices.

        • Markets Live

        The Australian sharemarket notches up second day of gains paced by big miners as iron ore rallies above $US90 a tonne. Elders at decade high. Gold miner Saracen hits record.

        • Sharemarket

        Portfolio manager Bill Pridham named multiple global companies he expects to be big winners from the structural shift to 5G technology.

        • Afterpay Holdings

        Professional investors remain divided on whether Afterpay can go far higher from here or is primed to crash back to earth.

        • Commercial real estate

        Hot-desking was supposed to encourage a productive corporate culture. Its death at the hands of COVID-19 only raises more questions about the office of the future.

        Jennifer Hewett

        Columnist

        • Aviation

        Stephen Freidheim made a fortune alongside Richard Branson in Virgin America. Since then his firm has tried to repeat the trick, with mixed success.

        Chanticleer

        Columnist

        • Industrial relations

        A principles-based approach means that everybody owns workplace safety. Could we do the same for productivity as well?

        Peter Richards

        Contributor

        • Cyber security

        Toll Group, BlueScope and Service NSW have all fallen victim to cyber criminals in recent days. The government and industry need to sharpen their response.

        Alastair MacGibbon

        Contributor

        • Big four

        Economic activity has fallen off a cliff and the jobless rate has spiked. So why are bankers quietly confident they’ll avoid the bad debt blowout they suffered in the early 1990s recession?

        Karen Maley

        Columnist

        • Coronavirus pandemic

        The tech industry might seem unstoppable in the coronavirus crisis, but ultimately it will be curbed.

        Rana Foroohar

        Contributor

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        • Industrial relations
        Attorney-General Christian Porter says a "simpler and less resource-intensive" bargaining system will be key.

        The Industrial Relations Minister says the bargaining system has to get back to its original aim of designing terms and conditions specific to a workplace and advancing productivity.

        • Coronavirus pandemic
        China is considering two separate tariffs of 73.6 per cent and 6.9 per cent on Australian barley.

        China’s Commerce Ministry will decide on Tuesday whether to slap tariffs on Australia barley amid tensions between Canberra and Beijing over a potential COVID-19 inquiry.

        • Coronavirus pandemic
        Trade Minister Simon Birmingham is being ignored by China.

        China’s growing trade aggression is making the nation’s biggest export market increasingly risky for Australian businesses, the Morrison government has warned.

        • Coronavirus pandemic

        Victoria aims to repair its spluttering economy by mending school buildings, social housing units, roads and train stations.

        • Coronavirus pandemic

        A Greens plan to rebuild the economy includes 500,000 new public housing properties and guaranteeing anyone under 30 a job, training place or free higher education. 

        • Coronavirus pandemic
        China is battling fresh clusters of coronavirus cases.

        China’s top coronavirus expert fears a second outbreak as new clusters emerge around the country.

        • Opinion
        • US election
        Anti-lockdown protests have swept across the US.

        The resentment of Americans unable to comfortably shelter from COVID-19 can put Donald Trump back in the White House.

        • Coronavirus pandemic
        Jair Bolsonaro at Sunday's rally.

        The President continues to flout social distancing guidelines as Brazil fights the world’s fourth-largest outbreak of COVID-19 with a death toll exceeding 16,000.

        Japan’s economy contracted at an annualised rate of 3.4 per cent in January-March, marking the first recession since the second half of 2015.

        • Coronavirus pandemic

        Some 40 per cent of Americans said they won’t buy products from China, according to a survey by Washington-based FTI Consulting.

        • Leasing
        234 Bridge Road, Richmond.

        A hairdressing tenant eyeing future development has secured space in a popular Melbourne precinct. 

        • Commercial real estate

        The volume of deal flow dwindled by 47 per cent to $2.16 billion year on year over the first quarter in the Australian market.

        • Office
        The stability of the public sector in Canberra has traditionally bolstered the market's economic resilience to external shocks.

        Canberra is set to be the only CBD office market to record positive rental growth in 2020, while other cities come under the economic strain of COVID-19.

        • Pubs

        Guy Farrands will lead ALE through one of its most challenging periods as the hospitality sector slowly emerges from its post-COVID-19 hibernation.

        • Property development

        The two sites front White Heart Drive on the eastern edge of the $680 million shopping district owned by GPT and have the capacity for 110 apartments.

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        • Opinion
        • Coronavirus pandemic
        The psychology of reopening – how soon people feel comfortable going to work and resuming activities – will be a key factor determining the performance of the global economy.

        With a recovery in the second half pencilled in, the key question is how quickly and strongly it takes hold.

        • Opinion
        • SMSFs

        If you don’t need the cash, reduce your withdrawals or even think about moving funds back to accumulation phase to preserve your savings.

        • Exclusive
        • Dividends

        With fund manager Janus Henderson tipping worldwide payouts to decline by $500 billion, investors need to wake up to diversification and yield overseas.

        • Exclusive
        • Funding
        Presien chief technology officer Nathan Kirchner and Presien chief executive officer Kieran MacKenzie founded an AI led company that uses new technology to develop safer automated systems for use in construction and mining.

        CSIRO’s Main Sequence Ventures fund has invested $4 million in Presien, a tech company that began as a project inside Laing O’Rourke to test AI vision.

        • Exclusive
        • Fintech
        Volt CEO Steve Weston is being patient about launching services while the market is in COVID-19 turmoil.

        The neobank will instead pursue a $15 million rights issue to its existing investors, which it says is going well.

        • Coronavirus pandemic
        Amazon CEO Jeff Bezos with his partner Lauren Sanchez in January.

        Since the start of the year, the Amazon boss’s net wealth has spurted by $US28 billion, equal to the GDP of Honduras.

        • University

        More than 180 staff have taken voluntary redundancies at Central Queensland University as part of a $28 million annual savings push.

        • Office

        As COVID-19 restrictions loosen up and some employees prepare to return to the workplace, one company has redesigned its offices.

        Advertisement

        The much-derided office meeting is underestimated for its power to regenerate ideas.
        • Opinion
        • Workplace

        If the office were to become a casualty of the virus, we will mourn the one place that gave us routine, structure, friends and a refuge in times of trouble.

        • Opinion
        • Cars
        Just 10 examples of the Inspiration Series LC will be available in Australia, with graphite black and titanium available, as well as the dark, deeply lustred green known as khaki metal.

        The luxury car maker’s latest coupe, the limited edition LC 500, lands with new colours and a superb ambience.

        • Food
        Ralph Lauren's brownies.

        ‘The Ladies Village Improvement Society Cookbook: Eating and Entertaining in East Hampton’ is broken up into entertaining menus such as ‘Lunch around the Pool’.

        • Streaming
        Australian actress Sarah Snook plays "Shiv" Roy in Succession, arguably the best show on TV right now.

        Binge will enter the market on May 25 after Foxtel renewed its crucial contract for HBO content, which included shows such as Game of Thrones and Succession.

        • Opinion
        • Gadgets
        Sofihub Home

        Whether you’re caring for an isolated parent – or just worried about your own chances of being found alive after a fall – this new monitoring system could help.

      • Virgin Australia’s fantastic four, shortlist confirmed
      • ASX rallies; Fortescue soars above $13
      • Tesla’s new batteries set to make EVs as cheap as petrol cars
      • China dangles carrot over free-trade deal
      • Hostplus warned of liquidity ‘perfect storm’
      • Tanning tycoon Blair James leases Lamborghini
      • May 18, 2020

        Lorraine Tarabay.
        • Jane Albert
        • The ‘outsider’ steering the MCA through the crisis
        • Australia rides towards cycling redemption
        Virgin Australia CEO Paul Scurrah.
        • Patrick Durkin
        • ANZ bids good riddance to bureaucracy
        • IR overhaul needed to stop underpayments: Wesfarmers chairman
        Just 10 examples of the Inspiration Series LC will be available in Australia, with graphite black and titanium available, as well as the dark, deeply lustred green known as khaki metal.
        • Tony Davis
        • Keeping an eye on the elderly? Leave it to the sensors
        • How Carla Zampatti has survived 55 years in fashion
        “I never thought I was talented – more a hard worker”: Aurélie Dupont has spent her career with the Paris Opera Ballet since becoming an étoile at 26.
        • Divya Bala
        • Why gallery owner Gene Sherman is in love with Japan

        Source: www.afr.com


        Finance

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        Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

        Market Data Terms of Use and Disclaimers

        Source: www.cnbc.com

        Author: Peter Schacknow


        O’Neil Global Advisors and Affiliates Launch Innovative Investment Funds

        O’Neil Global Advisors and Affiliates Launch Innovative Investment Funds

        Source: www.businesswire.com


        Investment - Best Investment Options | Latest Investments News | Investment Tips - Moneycontrol

        Investment – Best Investment Options | Latest Investments News | Investment Tips – Moneycontrol

      • MF
      • Indices
      • Portfolio
      • News Feed
      • L&T Triple Ace Bond -Direct (G)

        DSP Government Securities – DP (G)

        IDFC Dynamic Bond-Regular Plan (G)

        DSP Strategic Bond Fund – IP (G)

        DSP Strategic Bond Fund – Direct (G)

        Coronavirus impact | IndiGo has cut salaries, do you think other companies will follow suit?

        Thank you for voting! Post your comments

        Coronavirus impact | IndiGo has cut salaries, do you think other companies will follow suit?

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        Source: www.moneycontrol.com


        Equinor, Shell and Total make major CCS investment

        Equinor, Shell and Total make major CCS investment

        Equinor, Shell and Total have announced plans to invest almost $6.9bn in the Northern Lights project in Norway’s first exploitation licence for CO2 storage on the Norwegian Continental Shell.

        The investment decision would conclude the study phase during which Equinor, Shell and Total worked closely with Norwegian authorities to conduct engineering studies and project planning, drill a confirmation well and develop the necessary agreements.

        Anders Opedal, Executive Vice-President for Technology, Projects & Drilling at Equinor, said, “The Northern Lights project could become the first step to develop a value chain for carbon capture and storage (CCS) which is vital to reach the global climate goals of the Paris Agreement.”

        “The unique project opens for decarbonisation of industries with limited opportunities for CO2-reductions. It can be the first CO2 storage for Norwegian and European industries and can support goals to reduce net greenhouse gas emissions to zero by 2050.”

        The investment decision is subject to final investment decision by Norwegian authorities and approval from the EFTA Surveillance Authority (ESA).

        About the Northern Lights project

        The Northern Lights project will be developed in phases. Phase 1 includes capacity to transport, inject and store up to 1.5 million tonnes of CO2 per year.

        Once the CO2 is captured onshore by industrial CO2-emitters, Northern lights will be responsible for transport by ships, injection and permanent storage some 2,500 metres below the seabed. 

        The CO2 receiving terminal will be located at the premises of Naturgassparken industrial area in the municipality of Øygarden in Western Norway.

        The plant will be remotely operated from Equinor’s facilities at the Sture terminal in Øygarden and the subsea facilities from Oseberg A platform in the North Sea.

        The facility will allow for further phases to expand capacity. Investments in subsequent phases will be triggered by market demand from large CO2 emitters across Europe.

        If the project receives a positive final investment decision from the Norwegian Government in 2020, Phase 1 is expected to be operational in 2024.

        Source: www.gasworld.com


        COVID-19 vaccine secures new government investment

        COVID-19 vaccine secures new government investment

        Imperial's COVID-19 vaccine

        Imperial researchers have received a further £18.5 million in government support as they develop a coronavirus vaccine.

        Professor Robin Shattock’s team will use the funding to launch phase three clinical trials of their promising new COVID-19 vaccine later this year.

        Professor Shattock’s vaccine will begin human trials in June, having been tested with animals since early February.

        Professor Robin Shattock

        When injected, the self-amplifying RNA vaccine delivers genetic instructions to muscle cells to make the ‘spike’ protein on the surface of the coronavirus. This provokes an immune response to create immunity to COVID-19.

        The new £18.5 million investment for phase three trials at Imperial was announced by Business Secretary Alok Sharma alongside a £65.5 million new investment in University of Oxford vaccine trials, which Imperial researchers are also supporting.

        Imperial virologists in the lab

        It follows £22.5 million of UK government support for phase two trials, announced by Health Secretary Matt Hancock in April.

        Philanthropists are also vital to the vaccine race at Imperial, providing millions of pounds in support to date. 

        Professor Robin Shattock, Head of Mucosal Infection and Immunity at Imperial College London, said: “This funding will greatly accelerate our efforts to demonstrate the effectiveness of our vaccine and make it available to at risk populations as rapidly as possible. Access to such support allows us to move at unprecedented speed.”

        Professor Alice Gast, President of Imperial College London, said: “Support from government, philanthropists and the British public is making an enormous difference as our scientists urgently develop their promising vaccine for COVID-19. Professor Robin Shattock’s team is making extraordinary progress as they prepare to enter human trials. We are grateful to the government and public for their indispensable contributions.”

        Alok Sharma MPBusiness Secretary Alok Sharma MP said: “I am very proud of how quickly our world-leading scientists and researchers have come together in their efforts to develop a vaccine that will combat coronavirus. Their work has meant that the world’s two front-runners to develop a vaccine are right here in the UK – at the University of Oxford and Imperial College London.

        “The support we’re providing to the UK’s most promising vaccine projects underlines the government’s aim to rapidly accelerate vaccine development and ensure that any successful vaccine is made available in the millions as soon as possible.” 

        The latest funding for the Imperial and Oxford vaccines was allocated by the UK’s Vaccines Taskforce, chaired by Kate Bingham and established by the Chief Scientific Adviser, Deputy Chief Medical Officer, Business Secretary and the Health Secretary. 

        The Taskforce is supporting efforts to rapidly develop a coronavirus vaccine as soon as possible by providing industry and research institutions with the resources and support needed.  This includes reviewing regulations and scaling up manufacturing so that when a vaccine becomes available, it can be produced quickly and in mass quantities.

         Researchers are screening participants for the trial of Professor Shattock’s vaccine, and aim to begin clinical trials in June at the NIHR Imperial Clinical Research Facility.  

        Members of the public can register their interest by signing up via the NIHR Imperial CRF Healthy Volunteers database. 

        Article text (excluding photos or graphics) © Imperial College London.

        Photos and graphics subject to third party copyright used with permission or © Imperial College London.

        Click to expand or contract

        Source: www.imperial.ac.uk

        Author: by
        Andrew Scheuber

        17 May 2020


        Financial Review - Business, Finance and Investment News | afr.com

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