Author: roymorgansocial

Japan rises to second-biggest trade partner

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Original article by Rowan Callick
The Australian – Page: 21 : 19-Mar-18

New figures show that Japan has again become Australia’s second-biggest trading partner, having relinquished this status to the US in 2015-16. There was an 18 per cent increase in Australian exports to Japan in 2016-17, while the total value of two-way trade between Australia and Japan rose by 13 per cent to $A69bn. Two-way trade between Australia and the US totalled $A66bn. The figures also show that Australia exported a total of $A63bn worth of iron ore in 2016-17, ahead of coal ($A54bn) and education services ($A28bn).

CORPORATES
AUSTRALIA JAPAN ECONOMIC INTELLIGENCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE. BUREAU OF RESOURCES AND ENERGY ECONOMICS, IMPEX CORPORATION, JERA, ROYAL DUTCH SHELL PLC

BHP to change gear at Escondida copper

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Original article by Matt Chambers
The Australian – Page: 19 & 22 : 19-Mar-18

BHP Billiton has spent $US8 billion over the last six years on improvements to Escondida, the giant copper mine in Chile in which it and Rio Tinto own stakes of 57 per cent and 30 per cent respectively. Escondida is tipped to produce between 1.13 million and 1.23 million tonnes of copper in 2018, and BHP is aiming for annual production of 1.2 million tonnes per annum over the next decade. However, the quality of the copper grade produced by Escondida is expected to decline over this period.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG

Journos reject spy risk claim for flawed law

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Original article by Dana McCauley
The Australian – Page: 26 & 28 : 19-Mar-18

Former Al Jazeera foreign correspondent Peter Greste has expressed concern about the potential impact of the Federal Government’s proposed espionage and foreign interference laws on freedom of speech. Media companies have also raised concerns about the limitations of the proposed laws in a new submission to federal parliament’s intelligence committee, while Law Council of Australia president Morry Bailes says the defence that reporting on an issue is in the public interest should be widened.

CORPORATES
AL JAZEERA, LAW COUNCIL OF AUSTRALIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, UNIVERSITY OF QUEENSLAND, COMMUNIST PARTY (CHINA)

Sydney, Melbourne housing boom over

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 3 : 19-Mar-18

Preliminary data from CoreLogic shows that Sydney’s residential property market boasted an auction clearance rate of 67.8 per cent in the week ended 18 March, compared with 76.8 per cent at the same time in 2017. Melbourne’s clearance rate fell from 77 per cent previously to 68.9 per cent. Damien Cooley of Cooley Auctions says it is too soon to suggest that Sydney and Melbourne have become buyers’ markets.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, COOLEY AUCTION SERVICES PTY LTD, BELLE PROPERTY PTY LTD, FIRST NATIONAL REAL ESTATE GROUP, RT EDGAR PTY LTD, ELDERS REAL ESTATE, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Comyn pledges to fix commission problems

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Original article by James Thomson
The Australian Financial Review – Page: 17 : 19-Mar-18

Incoming Commonwealth Bank of Australia CEO Matt Comyn has alerted staff in its retail division that the week beginning 19 March could be uncomfortable for them. He says that submissions made to the banking royal commission during the coming week may include examples of where the CBA treated customers poorly. Cormyn, who will take over from Ian Narev in April, has given a commitment to fix any problems that the royal commission may unearth.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Nine, Ten mull joint cricket bid

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Original article by Darren Davidson
The Australian – Page: 26 & 28 : 19-Mar-18

Fox Sports will establish a cricket channel on Foxtel if its bid for cricket broadcasting rights is successful. Fox Sports bid includes Test and one-day international matches, as well as all Big Bash League matches except the finals. Meanwhile, the Nine and Ten networks are holding talks regarding a joint bid for broadcasting rights, while Seven West Media is also expected to bid. Cricket Australia has set a deadline of 19 March to submit bids, while Tennis Australia in turn is seeking bids for its broadcasting rights by 12 April.

CORPORATES
FOX SPORTS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION, SEVEN WEST MEDIA LIMITED – ASX SWM, BIG BASH LEAGUE, TENNIS AUSTRALIA, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, GOOGLE INCORPORATED, YOUTUBE INCORPORATED, FACEBOOK INCORPORATED, AMAZON.COM INCORPORATED

Local investors must factor in Fed rates hike

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Original article by Patrick Commins
The Australian Financial Review – Page: 22 : 19-Mar-18

Futures pricing indicates that the Australian sharemarket is likely to rise when trading resumes on 19 March. The banking royal commission and Labor’s imputation credit reforms are likely to be a key focus for investors in the coming week, along with the latest jobs data and the minutes from the Reserve Bank’s monthly board meeting. The first meeting of the Federal Reserve under new chairman Jerome Powell will also attract scrutiny, amid expectations of a rise in US interest rates.

CORPORATES
AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESFARMERS LIMITED – ASX WES, COLES SUPERMARKETS AUSTRALIA PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, AMP CAPITAL INVESTORS LIMITED, BNP PARIBAS SA

M&A’s hot sectors to drive healthy flow

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 19 : 19-Mar-18

Data from Dealogic shows that $US13.1bn ($A17bn) worth of mergers and acquisitions have been announced so far in 2018, which is 25 per cent higher than the same period in 2017. Herbert Smith Freehills partner Tony Damian anticipates strong M&A activity during 2018, citing healthcare as a sector which is likely to continue to attract suitors. The law firm also identifies financial services, renewable energy and infrastructure as Australian sectors in which M&A activity is likely to be high.

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, HERBERT SMITH FREEHILLS PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL, EXXONMOBIL CORPORATION, AWE LIMITED – ASX AWE, MITSUI AND COMPANY LIMITED, I-MED/MIA NETWORK LIMITED, PERMIRA PRIVATE EQUITY LIMITED, DEUTSCHE BANK AG, COALITION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AMP LIMITED – ASX AMP, SUNCORP GROUP LIMITED – ASX SUN, WESFARMERS LIMITED – ASX WES, COLES SUPERMARKETS AUSTRALIA PTY LTD, QUALCOMM INCORPORATED, BROADCOM CORPORATION, UBS HOLDINGS PTY LTD, LAZARD PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE CAPITAL PTY LTD

Mortgage customer satisfaction higher when deal directly with bank

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Mar-18

A Roy Morgan Single Source survey, which was carried out in the six months to January 2018, has found that home loan customers’ satisfaction with banks when using a mortgage broker was only 77.3%. This compares to 80.3% when home loans were obtained in person at a branch. Even among more recent home loans (held for under six years) satisfaction with going directly into a branch was 81.7%, compared to 78.7% for mortgage brokers. Home loan customers of Bendigo Bank who obtained their loan in person at a branch had the highest satisfaction with 92.6%, followed by Bankwest (87.3%) and St George (86.8%). The best of the big four was NAB with 82.4%, followed by ANZ (79.7%). All of the largest banks, with the exception of Westpac, had higher satisfaction when going direct rather than using mortgage brokers. Meanwhile, satisfaction when using mortgage brokers was highest for St George with 85.6%, Bankwest (82.1%) and Suncorp Bank (82.0%). Each of the big four were below the market average (77.3%) for home loan customer satisfaction when using a mortgage broker, with the best of them being NAB (76.4%) and Westpac (75.7%).

CORPORATES
ROY MORGAN LIMITED, BENDIGO BANK, BANK OF WESTERN AUSTRALIA LIMITED, ST GEORGE BANK LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, SUNCORP BANK

Forrest weighs return to High Court in cattle station battle

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Original article by Brad Thompson
The Australian Financial Review – Page: 4 : 16-Mar-18

Western Australia’s Court of Appeal has ruled in favour of Onslow Resources in the latest round of a legal dispute with mining magnate Andrew Forrest. The court has rejected an appeal by Forrest’s private company against the Supreme Court’s ruling that a licence associated with Onslow’s sand mining operations should be renewed. Onslow mines sand from the Ashburton River, which runs through Forrest’s Minderoo cattle station. A spokesman for Forrest says the businessman will consider appealing the decision.

CORPORATES
ONSLOW RESOURCES LIMITED, COURT OF APPEAL (WESTERN AUSTRALIA), FORREST AND FORREST, YARRI MINING PTY LTD, SUPREME COURT OF WESTERN AUSTRALIA, WESTERN AUSTRALIA. DEPT OF MINES, INDUSTRY REGULATION AND SAFETY, HIGH COURT OF AUSTRALIA, FORTESCUE METALS GROUP LIMITED – ASX FMG