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Shares to dip early after poor US lead – Australian Associated Press

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Shares on the Australian market are likely to fall at the opening of trade after US markets sunk on surging coronavirus cases and profit-taking following a recent rally.

The Australian SPI 200 futures contract was lower by 30.0 points, or 0.50 per cent, to 5959.0 points at 0700 AEST on Wednesday.

The Dow, S&P 500 and Nasdaq all dropped overnight after large parts of the US reported tens of thousands of new coronavirus infections.

New York expanded its travel…



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Sanjeev Gupta’s GFG Alliance to buy Tasmania’s TEMCO smelter from South32 – ABC News

A troubled manganese alloy smelter in Tasmania’s north has been saved from closure and is set to be sold to an international company headed by British businessman Sanjeev Gupta.

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A troubled manganese alloy smelter in Tasmania’s north has been saved from closure and is set to be sold to an international company headed by British businessman Sanjeev Gupta.
Key points:

  • The TEMCO smelter in Tasmania’s north employs 250 people, whose jobs are now understood to be safe
  • South32 had been weighing up the future of the facility
  • The sale to British businessman Sanjeev Gupta’s GFG Alliance is subject to approval from Australia’s Foreign Investment Review Bo…

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Coroanvirus cases at Victorian Woolworths and Coles supermarkets – 7NEWS.com.au

Shoppers who recently visited the Victorian stores are being urged to monitor for symptoms consistent with COVID-19.

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Three Coles stores and a Woolworths supermarket have confirmed workers have been diagnosed with coronavirus.
One of the Coles stores is near Geelong while the other two are on the outskirts of Melbourne.
The Woolworths store is also located in Melbournes southeast.
Coles on Wednesday confirmed workers at stores in Lalor Plaza, Clyde North and Corio Village had been diagnosed with COVID-19.
The employees last worked on August 7, August 3 and August 9 respectively.
File image of Coles shoppin…

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LNG crown teeters as NT gas in peril – The Australian Financial Review

Australia’s reign as the world’s largest exporter of LNG may already have come to an end as fresh challenges emerge on the domestic gas front.

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On the domestic gas front, hopes of tapping gas in the NT to help underpin a recovery in the domestic economy from the COVID-19 crisis are in peril from the anti-fracking stance of the Terry Mills-led Territory Alliance party heading into the election on August 22.
The Beetaloo Basin is our best hope but it is at risk when fracking has become an election issue in the Northern Territory.
Matthew Canavan, former federal resources minister
Former federal resources minister Matthew Canavan said t…

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