Author: roymorgansocial

China giants to control global digital economy: McKinsey

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Original article by Lisa Murray
The Australian Financial Review – Page: 3 : 1-Mar-18

The McKinsey Global Institute estimates that China now accounts for more than 40 per cent of global e-commerce in terms of transaction value. McKinsey director Jonathan Woetzel says there is a growing view that Chinese technology companies rather than their US counterparts will become the dominant players in the global digital economy. TechSydney director Bede Moore notes that cashed-up Chinese technology companies are ramping up their investment in Asia.

CORPORATES
McKINSEY GLOBAL INSTITUTE, TECHSYDNEY, ALIBABA GROUP HOLDING LIMITED, TENCENT HOLDINGS LIMITED, FACEBOOK INCORPORATED, AMAZON.COM INCORPORATED, WECHAT, LAZADA, TOKOPEDIA, ANT FINANCIAL, JD.COM INCORPORATED, CENTRAL GROUP OF COMPANIES, BAIDU.COM INCORPORATED

Treasury boss backs company tax cuts

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Original article by David Uren
The Australian – Page: 5 : 1-Mar-18

Treasury secretary John Fraser appeared before the Senate economics committee on 28 February, arguing the case for the Federal Government’s corporate tax package. He warned that Australia will have one of the highest company tax rates among developed nations following tax cuts in the US, the UK and France, and its international competitiveness will be adversely affected if across-the-board company tax cuts do not proceed. Meanwhile, Treasury adviser Michael Kouparitsas refuted Labor’s claim that foreign investors would be the main beneficiaries of the tax cuts.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN TAXATION OFFICE

Latest Sky complication upsets Murdoch plans

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Original article by Jennifer Duke
The Sydney Morning Herald – Page: 26 : 1-Mar-18

Rupert Murdoch’s 21st Century Fox had aimed to finalise the acquisition of British pay-TV group Sky by mid-2018. Murdoch would then complete the $US52.4bn ($A65.9bn) deal to sell most of Fox’s assets to Walt Disney Company, including Sky. However, these deals are in doubt in the wake of Comcast’s Stg22.1bn ($A39.4bn) bid for Sky. Comcast’s offer is compelling at Stg12.50 per share, compared with Fox’s offer of just Stg10.75. The Comcast deal is also likely to meet with less resistance from Britain’s competition regulators than Fox’s bid for Sky.

CORPORATES
21ST CENTURY FOX INCORPORATED, SKY PLC, COMCAST CORPORATION, WALT DISNEY COMPANY, NBC UNIVERSAL INCORPORATED, UNIVERSAL PICTURES, NEWS CORPORATION – ASX NWS, ODEY ASSET MANAGEMENT LLP, ENGLISH PREMIER LEAGUE

Shorten’s excellent $17,000 coral and coal adventure

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Original article by Joe Kelly, Sarah Elks
The Australian – Page: 1 & 4 : 1-Mar-18

Federal Opposition Leader Bill Shorten has disclosed that the Australian Conservation Foundation paid for him to tour the Great Barrier Reef and take a chartered flight over the site of Adani’s proposed Carmichael coal mine. ACF CEO Kelly O’Shanassy says Shorten subsequently discussed Labor’s options for blocking the Carmichael project with herself and environmentalist Geoff Cousins. Shorten has attracted criticism over his inconsistent stance on coal mining.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Growth in India to fuel coal demand

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Original article by Ben Packham
The Australian – Page: 4 : 1-Mar-18

World Coal ­Association CEO Benjamin Sporton says demand for Australian coal will remain strong for some time, due to rising electricity consumption in India. He notes that some 300 million people in India currently do not have access to electricity, while a similar number of people are expected to migrate to India’s cities over the next 15 years. Meanwhile, high-efficiency, low-emissions coal plants with a capacity of 48 gigawatts are under construction in India.

CORPORATES
WORLD COAL ASSOCIATION, ADANI MINING PTY LTD, INTERNATIONAL ENERGY AGENCY, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Adani denies environmental breaches

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Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 1-Mar-18

Adani has defended its environmental record with regard to the proposed Carmichael coal mine, arguing that the project has undergone a stringent approvals process at state and federal level. However. Adani is involved in several court cases regarding the Carmichael mine. Amongst other things, Adani is challenging a $A12,000 fine over the release of excess water at Abbot Point during Cyclone Debbie in 2017.

CORPORATES
ADANI MINING PTY LTD, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, TOWNSVILLE CITY COUNCIL

POSCO offtake deal for Pilbara lithium

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Original article by Peter Ker
The Australian Financial Review – Page: 26 : 1-Mar-18

Pilbara Minerals has struck a deal for South Korean steelmaker POSCO to buy at least 80,000 tonnes of spodumene concentrate from its Pilgangoora lithium mine each year. The offtake agreement includes provision for POSCO to buy up to 240,000 tonnes each year, which means that the bulk of Pilgangoora’s output for the next several years has been contracted. POSCO will also acquire a 4.75 per cent stake in Pilbara Minerals for $A79.6m, while the two companies propose to establish a downstream processing joint venture in Korea.

CORPORATES
PILBARA MINERALS LIMITED – ASX PLS, POSCO, TAWANA RESOURCES NL – ASX TAW, GALAXY RESOURCES LIMITED – ASX GXY, OROCOBRE LIMITED – ASX ORE, GREAT WALL MOTOR COMPANY LIMITED, GANFENG LITHIUM COMPANY LIMITED, GENERAL LITHIUM CORPORATION, TOYOTA TSUSHO CORPORATION

Vale challenges Rio and BHP on China sales

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Original article by Peter Ker
The Australian Financial Review – Page: 25 : 1-Mar-18

Brazilian iron ore miner Vale has indicated that since 2016 its profits margins on sales to China have matched those of BHP Billiton and Rio Tinto. Vale has increased the average iron content of its ore to 64.3 per cent, and a spokesman says this should rise further over the next several years. In contrast, BHP’s ore has an average iron content of 61 per cent, while Rio Tinto’s averages 62 per cent. Meanwhile, BlackRock fund manager Evy Hambro says expectations that the price discount for lower-grade iron ore will be sustained prompted the World Mining Trust to divest its stake in Fortescue Metals Group in 2017.

CORPORATES
VALE SA, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BLACKROCK INCORPORATED, BLACKROCK WORLD MINING TRUST PLC

Bank advocacy highest among App users

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Mar-18

A Roy Morgan Single Source survey has found that bank customers using an App on a mobile phone or tablet to deal with their bank are more likely to recommend them to a friend or colleague compared to those accessing their bank using other channels. In the 12 months to January 2018, 68.7% of customers who dealt with their bank using an App on a mobile phone or tablet said they were highly likely to recommend their bank to others. This is based on them scoring an 8, 9 or 10 on a possible 10-point likelihood scale. This level of advocacy is well above that of the more traditional method of dealing with banks – the branches – with 64.7% being high advocates. Internet banking using a website is currently the most common method for dealing with banks, but it is losing some ground to the use of Apps on mobile phones or tablets.

CORPORATES
ROY MORGAN LIMITED

Contempt case threatens super union

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 28-Feb-18

Victorian International Container Terminals’ contempt of court lawsuit against the Maritime Union of Australia could prevent its proposed merger with the Construction, Forestry, Mining & Energy Union. The Fair Work Commission, which is shortly slated to issue a ruling on the merger, has received a submission which argues that contempt charge constitutes criminal proceedings under the Fair Work Act. The Registered Organisations Act in turn states that a union merger cannot by approved if there is outstanding criminal proceedings. The unions contend that the contempt charge is civil rather than criminal.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, VICTORIAN INTERNATIONAL CONTAINER TERMINAL PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), MASTER BUILDERS AUSTRALIA INCORPORATED