Author: roymorgansocial

Explorer to drill Australia’s deepest hole chasing riches

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Original article by Paul Garvey
The Australian – Page: 20 : 5-Mar-18

Artemis Resources intends to drill a hole to a depth of more than 3,300 metres below the surface at its tenement in the Pilbara. The super-deep hole is aimed at gaining more knowledge of the source of the small gold nuggets that have been found near the surface in the Pilbara. Artemis chairman David Lenigas says the junior explorer has had persistent approaches from a major North American resources group about deep-hole drilling.

CORPORATES
ARTEMIS RESOURCES LIMITED – ASX ARV, NOVO RESOURCES CORPORATION, ST BARBARA LIMITED – ASX SBM, NORTHERN STAR RESOURCES LIMITED – ASX NST, HOTCOPPER AUSTRALIA LIMITED, CRA LIMITED

Buyers firming up for next round of bids for Vocus NZ operation

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 5-Mar-18

Vocus Group appears on target to complete the sale of its New Zealand business by the end of the 2017-18 financial year. Trust Power and 2degrees are known to have made the next stage of the bidding process, but it is understood that other parties have also done so. Vocus has indicated that it is seeking between $A500 million and $A600 million for its New Zealand unit, which generated revenue of $NZ342 million ($A315 million) for the year to 30 June 2017.

CORPORATES
VOCUS GROUP LIMITED – ASX VOC, TRUST POWER LIMITED, 2 DEGREES MOBILE LIMITED, TRILOGY INTERNATIONAL PARTNERS, STUFF.CO.NZ, SPARK NEW ZEALAND LIMITED – ASX SPK, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD

Our debt pile grows at world-record pace

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Original article by David Uren
The Australian – Page: 4 : 5-Mar-18

Data from the OECD shows that Australia is one of just 10 advanced economies that have increased their debt by more than six per cent of GDP since 2012. The combined debt of Australia’s federal and state governments has increased by 12 per cent of GDP over the last five years. In contrast, New Zealand has reduced its debt by nine per cent over this period. Meanwhile, the average repayment term for Australia’s debt has risen from less than six years prior to the global financial crisis to nearly eight years.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Watchdog vows to take stick to CFMEU officials over fines

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 5-Mar-18

The new head of the Australian Building & Construction Commission, Stephen McBurney, notes that 37 of the 41 investigations that are currently underway involve the militant Construction, Forestry, Mining & Energy Union. McBurney says he is open to talks with CFMEU officials about complying with industrial relations laws, arguing that the ABCC budget would be better spent on education and prevention instead of legal action. However, he adds that the ABCC will seek to make union officials personally liable for fines in the wake of a court ruling which prohibits the CFMEU for paying fines on their behalf.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, HIGH COURT OF AUSTRALIA, AUSTRALIAN FOOTBALL LEAGUE, AUSTRALIAN CRIME COMMISSION, AUSTRALIA. NATIONAL CRIME AUTHORITY, VICTORIA. OFFICE OF THE CHIEF EXAMINER

Trump’s trade war hits home

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Original article by Jacob Greber, John Kehoe
The Australian Financial Review – Page: 1 & 10 : 5-Mar-18

Deloitte Access Economics has forecast that President Donald Trump’s tariffs on foreign steel and aluminium could lead to a US-China trade war that could reduce Australia’s national income by $A5 billion within a year. Australian silicon exporter Simcoa is facing a tariff of 51 per cent, while Trade Minister Steve Ciobo says Australia may take action against the US over its proposed tariffs. He says it will depend on whether Trump decides to make exemptions for Australia, while Prime Minister Malcolm Turnbull describes protectionism as a "dead end".

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, SIMCOA INTERNATIONAL PTY LTD, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BLUESCOPE STEEL LIMITED – ASX BSL, WORLD TRADE ORGANIZATION, GLOBE SPECIALTY METALS, RIO TINTO LIMITED – ASX RIO

Fair Work slams Caltex franchise model

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Original article by Adele Ferguson
The Australian Financial Review – Page: 13 & 18 : 5-Mar-18

Service station operator Caltex Australia advised in the week ending 2 March that it will abandon the franchise model for its outlets. Its announcement preceded a rather damning report into its franchise model by the Fair Work Ombudsman, with an audit finding that 76 per cent of franchised Caltex stores it examined were exploiting their staff. Fair Work Ombudsman Natalie James says that in light of its report, she is not surprised by Caltex’s decision to exit franchising.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, AUSTRALIA. FAIR WORK OMBUDSMAN, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, 7-ELEVEN STORES PTY LTD, RETAIL FOOD GROUP LIMITED – ASX RFG, PIZZA HUT AUSTRALIA, UNITED PETROLEUM PTY LTD

Sky News, Nine explore finance-reporting JV

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 5-Mar-18

Nine Entertainment Company has declined to comment on reports that it is holding talks with pay-TV channel Sky News Business regarding a finance reporting joint venture. However, a spokeswoman for Sky News owner News Corp has confirmed that the two companies have held such talks. The proposed alliance would distribute finance content on free-to-air, pay-TV and online channels, and could potentially include the launch of a new business channel. Nine and News Corp may also jointly bid for cricket broadcasting rights.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SKY NEWS BUSINESS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN NEWS CHANNEL PTY LTD, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION, SEVEN WEST MEDIA LIMITED – ASX SWM, CARADVICE.COM.AU PTY LTD, SKY PLC, 21ST CENTURY FOX INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Foxtel bows to demand by adding movie greats

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Original article by Darren Davidson
The Australian – Page: 26 : 5-Mar-18

Foxtel’s executive director of television, Brian Walsh, says broadcasters must offer exclusive content in order to remain competitive as viewers shift to watching films and TV shows on demand. Foxtel will increase the number of film channels it offers to 10 with the launch of Foxtel Movie Greats on 23 March. It will feature classic Hollywood films that have been digitally remastered in high definition. Foxtel will also add more than 1,200 classic films to its Foxtel Now on-demand service.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, FOXTEL NOW, NETFLIX INCORPORATED, 21ST CENTURY FOX INCORPORATED, HBO, TEN NETWORK HOLDINGS LIMITED, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS

Olympics top TV sport ahead of AFL, Comm. Games & Cricket

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Original article by Roy Morgan
Market Research Update – Page: Online : 5-Mar-18

A Roy Morgan Single Source survey has found that the Olympics – encompassing both Summer and Winter Olympics – is Australia’s most popular TV sporting viewing experience; nearly 8.7 million Australians almost always or occasionally watch the Olympics when on TV. The AFL is the leading domestic sport with almost 7.7 million Australians watching various AFL sporting events on TV, headlined by the 6.5 million that watch the AFL Grand Final. The Commonwealth Games attracts 7.5 million viewers, ahead of Cricket on 7.4 million viewers, while the NRL boasts 6.7 million viewers, with its most popular sporting event – the annual State of Origin – attracting 5.8 million viewers. Tennis has nearly 6.6 million viewers, although viewing is heavily skewed towards the Australian Open – watched by almost 6.5 million viewers.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN OPEN TENNIS

Underpaid, overworked, fearing sack

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Original article by Adam Gartrell
The Age – Page: 8 : 2-Mar-18

Fifty-nine per cent of workers who took part in an ACTU survey stated that they are worried that they will lose their current job in the next couple of years. Over 70 per cent expressed the view that they felt as if they are working harder for less pay, while 80 per cent stated that getting a reasonable pay rise was difficult. ACTU Secretary Sally McManus, says the crux of the survey results is that workers want reasonable wage rises and more job security. The ACTU intends to use the results of the survey to back its case for an increase in the minimum wage.

CORPORATES
ACTU, AUSTRALIA. FAIR WORK COMMISSION