Source : PortMac.News | Independent :
Source : PortMac.News | Independent | News Story:
News Story Summary:
Latest updates on Key Economic Indicators - Page Online : 15 April 2021
Australian Dollar: $0.7730 USD (up $0.0090 USD)
Iron Ore May Spot Price (SGX): $166.55 USD (up $0.50 USD)
Oil Price (WTI): $62.75 USD (up $2.30 USD)
Gold Price: $1,736.13 (down $9.28 USD)
Bitcoin: $62,708.57 USD (down 0.76% in last 24 hours)
Dow Jones: 33,730.89 (up 53.62 points on yesterday's close)
All changes compared to 7am yesterday.
No need for mass jab sites, doctors say
The Australian - Page 5 : 15 April 2021 - Original article by Rosie Lewis, Robyn Ironside - PortMac.News Summary
Prime Minister Scott Morrison has announced a revised target for its COVID-19 vaccine rollout. All Australian adults who want to be vaccinated against COVID-19 will now receive their first dose by the end of 2021.
The government's strategy may include the use of mass vaccination hubs, which could be available for people aged 50-70 by June or July.
People under the age of 50 may have access to vaccination hubs by October.
However, Australian Medical Association president Omar Khorshid has questioned the use of mass vaccination hubs for those aged 50-70, arguing that medical clinics are handling the rollout well and limited access to supplies of the vaccines is the main problem for GPs.
'RBA model' predicts 25% house price rise
The Australian Financial Review - Page 3 : 15 April 2021 - Original article by Matthew Cranston - PortMac.News Summary
Kieran Davies of Coolabah Capital Investments has forecast that house prices will rise by 8% in 2021, followed by growth of 9% in 2022 and 8% in 2023.
Davies' forecasts are based on house price models developed by former Reserve Bank of Australia economists Peter Tulip and Trent Saunders.
A spokesman for the central bank has indicated that the model in question is one of several that it uses in the course of understanding housing market conditions.
Coinbase Crypto Exchange goes public - Bringing Bitcoin to Masses
Brian Armstrong became one of the richest people in the world after Coinbase Global Inc. went public Wednesday.
Coinbase, co-founded by Mr. Armstrong in 2012, runs the largest bitcoin exchange in the U.S. and was the first major cryptocurrency-focused company to go public in the country.
At the close of the first day of trading, it fetched a valuation of about $85 billion, which would make Mr. Armstrong’s 20% stake worth about $17 billion.
That puts the 38-year-old chief executive among the wealthiest people in the world, based on Forbes’ billionaires list.
Europe bets heavily on Pfizer in vaccine
The Age - Page Online : 15 April 2021 - Original article by Bevan Shields - PortMac.News Summary
The European Commission has revealed that it is in talks to acquire 1.8 billion doses of Pfizer's COVID-19 vaccine for 2022 and 2023.
The vaccine uses mRNA technology, and EU President Ursula von der Leyen says that the lessons learnt in the early stages of the pandemic demonstrate the need to focus on technologies that have "Proven their worth".
Her comments may heighten speculation that the EU will cease using the AstraZeneca and Johnson & Johnson vaccines, which use adenovirus technology and have been linked to blood clotting.
Meanwhile, Denmark has advised that it will stop using the AstraZeneca vaccine.
Big business 30% tax rate 'Hurts growth'
The Australian Financial Review - Page 1 & 4 : 15 April 2021 - Original article by John Kehoe - PortMac.News Summary
The OECD has called for Australia to end its two-tier corporate tax system, arguing that large companies should pay the same tax rate as small and medium enterprises.
Large companies pay a tax rate of 30%, while the tax rate for companies with turnover of less than $50m will fall to 25% in July.
The OECD report has also suggested that stamp duty could be replaced by a recurrent land tax, while the goods and services tax could be increased.
Super to rise after MPs' push falls over
The Australian - Page 4 : 15 April 2021 - Original article by Greg Brown - PortMac.News Summary
The legislated increase in the superannuation guarantee from 9.5% to 10%t will proceed on 1 July.
It is among the measures that will be announced in the federal government's May 2021 Budget.
Some Coalition backbenchers had pushed for the increase to be put on hold, but government sources have indicated that the economy's rebound means has weakened the case for doing so.
The sources have added that a proposal to allow people to access their super to buy a home will not be included in the Budget.
Business wants 'Emergency' flexibility to stay in awards
The Australian Financial Review - Page 10 : 15 April 2021 - Original article by David Marin-Guzman - PortMac.News Summary
The Council of Small Business Organisations has urged the federal government to retain temporary changes to industrial relations laws in the post-coronavirus environment.
CEO Peter Strong says the increased flexibility in enterprise bargaining agreements and industry awards should be kept as "Dormant conditions" that can be reactivated in the event of future emergencies.
He adds that clauses should be inserted into awards and EBAs that allow employers to change their employees' hours of work or duties if the government has declared a state of emergency.
'JobKeeper' doubled return for investors
The Guardian Australia - Page Online : 15 April 2021 - Original article by Ben Butler - PortMac.News Summary
Labor MP Andrew Leigh says the federal government must disclose how JobKeeper money was spend, noting that the wage subsidy scheme had cost nearly $4,000 per Australian.
Leigh contends that millions of dollars in JobKeeper funds had been used to pay executive bonuses and dividends to billionaires.
Analysis undertaken on behalf of Leigh shows that investors who bought shares in a basket of companies that received the wage subsidy would have made a return of 99.2% since March 2020, while the return from companies that did not receive the subsidy would have been just 57.3%.
Recruitment to rise as confidence grows
The Australian Financial Review - Page 4 : 15 April 2021 - Original article by Julie Hare - PortMac.News Summary
A report from the National Skills Commission's shows that Australian employers are upbeat about their outlook.
The Recruitment Experiences and Outlook Survey for March has found that nearly 50% of the 1,200 respondents have hired additional staff in the last three months, while about 66% intend to do so in the next six months.
Meanwhile, just 3% of employers regarded the end of government financial assistance as a continuing risk; 12% of respondents considered the long-term impact of COVID-19 to be a risk over the next six months, compared with 19% in December.
Revealed: The dispute behind the Holgate saga
The Australian - Page 20 : 15 April 2021 - Original article by Robert Gottliebsen - PortMac.News Summary
Prime Minister Scott Morrison must release the BCG report into Australia Post, which examined options such as selling its parcel business and closing post offices.
BCG's findings were contrary to the strategy of former Australia Post CEOs Christine Holgate and Ahmed Fahour, which included a focus on the parcels delivery business.
The coronavirus-induced surge in parcel deliveries has vindicated their stance.
The failure to release the BCG report is among the many cover-ups that have plagued the government, which must disclose its policy on Australia Post.
AMP yanks De Ferrari bonus vote from AGM
The Australian Financial Review - Page 23 : 15 April 2021 - Original article by Michael Roddan - PortMac.News Summary
Wealth manager AMP has advised that it will withdraw a resolution from its 2021 Notice of Annual General Meeting with regard to a performance rights package for outgoing CEO Francesco De Ferrari.
He will step down later in 2021, and will therefore not be entitled to any long-term incentive payments.
De Ferrari has received total remuneration of $21m since taking the helm of AMP in late 2018.
AMP shares closed at $1.23 on 14 April, which is about half their value when De Ferrari joined the company.
This is really it for Coca-Cola Amatil
The Australian - Page 13 & 16 : 15 April 2021 - Original article by Glenda Korporaal - PortMac.News Summary
Coca-Cola European Partners' revised takeover offer of $13.50 per share is expected to be backed by Coca-Cola Amatil investors on 16 April.
Former CEO Terry Davis said that the company will fall into foreign ownership, but adds that CCEP knows the business well and will be very committed to it.
Davis's tenure at CCA was marred by the ill-fated acquisition of SPC Ardmona for $700m; the business was subsequently sold for just $40m.
Origin signs Townsville hydrogen export accord
The Australian Financial Review - Page 23 : 15 April 2021 - Original article by Angela Macdonald-Smith - PortMac.News Summary
Origin Energy's Felicity Underhill anticipates strong growth in demand for 'green' hydrogen in Asia in coming years, adding that Townsville could become a leading global hub for hydrogen exports.
Origin Energy has signed a preliminary deal with the Port of Townsville to build a green hydrogen facility at the port; the facility is slated to produce 36,500 tonnes of liquid hydrogen per annum for both domestic consumption and export markets.
Japan-based Kawasaki Heavy Industries will be Origin's initial partner in the project.
ASX hits fresh 13-month high
The Australian - Page 19 : 15 April 2021 - Original article by Rebecca Le May - PortMac.News Summary
The Australian sharemarket rallied on 14 April, with the S&P/ASX 200 rising 0.66% to close at 7,023.1 points.
Perseus Mining was up 6.72% at $1.27. the Commonwealth Bank rose 0.7% to $87.80 and WiseTech Global gained 3.28% to end the session at $32.41.
CSL in turn advanced 1.19% to $267.80 and Brainchip Holdings was nearly 20% higher at $0.635