Author: roymorgansocial

Penalty-rate victory for Coles workers

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Original article by Richard Ferguson
The Australian – Page: 2 : 24-Jan-18

The Shop Distributive & Allied Employees’ ­Association has negotiated a new enterprise agreement with grocery giant Coles that includes higher penalty rates for staff who work at night and on weekends. The deal includes an annual pay rise for all employees, and a one-off payment to ensure that their take-home pay is not adversely affected by the new wage deal. Coles workers will vote on the proposed enterprise agreement in mid-February. Coles and the SDA have been negotiating a new deal for about 12 months.

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY

‘Show them your tits’: Fair Work upholds sacking of car manager

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 24-Jan-18

The full bench of the Fair Work Commission has dismissed an appeal by the former business manager of a Queensland car dealership. Phillip Parker had been dismissed by Cricks Volkswagen for sexual harassment after a female employee alleged that he had made inappropriate comments to her. Parker appealed against the original ruling, citing it as an example of "male inequality".

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, CRICKS VOLKSWAGEN

Publishers back Murdoch’s fee model

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Original article by Darren Davidson
The Australian – Page: 15 & 18 : 24-Jan-18

NewsMediaWorks CEO Peter Miller has welcomed a proposal by Rupert Murdoch for Facebook to pay a "carriage fee" for republishing media content such as newspaper articles. Miller is confident that members of NewsMediaWorks, which include major media companies, will also support the proposal. Murdoch says carriage fees would recognise the value of quality news content to Facebook while having little impact on its profits. Murdoch adds that Facebook and Google must do more to ensure that the selection of news stories that appear on their websites is politically impartial.

CORPORATES
NEWSMEDIAWORKS, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

ALP’s Fair Work Commission power play

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 24-Jan-18

ACTU secretary Sally McManus has expressed support for the Federal Opposition’s proposal to give the Fair Work Commission more power to arbitrate industrial disputes. Labor’s workplace relations spokesman Brendan O’Connor says that while the parties to a dispute should always seek to resolve it themselves, an alternative is needed when one party has not acted in good faith. However, Australian Industry Group CEO Innes Willox has warned against any changes to the Fair Work Act that would give unions more bargaining power.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, ACTU, THE AUSTRALIAN INDUSTRY GROUP, UNIVERSITY OF ADELAIDE

Budget gets Trump bump

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Original article by Jacob Greber, Tom McIlroy, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 24-Jan-18

The Australian Government’s May 2018 Budget may take into account the impact of the Trump administration’s tax reforms when restating its forecasts for global economic growth. The mid-year update in December maintained Treasury’s current forecast of global economic growth of 3.5 per cent in 2018. However, Treasury may respond to the International Monetary Fund’s upgrade of its global growth forecasts by upwardly revising its own guidance.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, INTERNATIONAL MONETARY FUND, THE AUSTRALIAN INDUSTRY GROUP, HSBC AUSTRALIA HOLDINGS PTY LTD, UNIVERSITY OF SYDNEY. UNITED STATES STUDIES CENTRE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, RESMED INCORPORATED – ASX RMD

Carnell: banking inquiry should pass the pub test

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Original article by James Frost
The Australian Financial Review – Page: 15 : 24-Jan-18

Complaints about loans to small business and farmers are among those on which the banking royal commission will accept submissions, according to information released on 23 January. Kate Carnell, the small business and family enterprise ombudsman, previously headed an inquiry into small business loans in 2016. She says the banking royal commission must ensure that all interested parties are given the opportunity to make a submission.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN

Kingsgate activist opts to reduce its holding

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Original article by Peter Ker
The Australian Financial Review – Page: 13 : 24-Jan-18

UK-based Metal Tiger has sold about 5.5 million shares in gold miner Kingsgate Consolidated in the wake of its failed bid for a board spill. The divestment has reduced Metal Tiger’s stake from 8.1 per cent to 5.6 per cent, and CEO Michael McNeilly stresses that the company will continue to be an active investor. Meanwhile, Kingsgate chairman Ross Smyth-Kirk has ruled out boardroom changes in the near-term. The company is pursuing legal action against the Thai Government over its closure of the Chatree mine.

CORPORATES
KINGSGATE CONSOLIDATED LIMITED – ASX KCN, METAL TIGER PLC

Miners lead confidence surge

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Original article by Matt Chambers, Sarah-Jane Tasker
The Australian – Page: 15 & 21 : 24-Jan-18

The latest Mining Business Outlook survey by Newport Consulting shows that mining company executives are upbeat about the outlook for commodity prices in 2018. The survey found that 75 per cent of respondents are "cautiously optimistic" and 17 per cent are "very optimistic" about the outlook. Meanwhile, 42 per cent of respondents expect to "moderately" increase spending in 2018, and about 25 per cent intend to hire additional staff. CEOs in the manufacturing, construction and services industries are also positive about the outlook in 2018, according to a separate survey by the Australian Industry Group.

CORPORATES
NEWPORT CONSULTING PTY LTD, THE AUSTRALIAN INDUSTRY GROUP, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, DEUTSCHE BANK AG, RESMED INCORPORATED – ASX RMD, MACQUARIE BANK LIMITED – ASX MBL, RESERVE BANK OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, INTERNATIONAL MONETARY FUND

ANZ-Roy Morgan Consumer Confidence pulls back after three consecutive increases

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Jan-18

ANZ-Roy Morgan Australian Consumer Confidence fell 3.3% to 119.4 in the week ended 21 January, following three consecutive strong reports. The fall was broad based, with views towards current finances leading the pullback. The current finances sub-index fell a sharp 9.1% to 104.7, partially unwinding gains over the previous three weeks. In comparison, views towards future finances fell a more modest 2.2%, following a 0.2% decline in the week prior. Despite the weekly falls, both sub-indices sit above their long-term average. Households’ pessimism also extended towards the economic outlook. Views around current and future economic conditions dipped 3.6% and 1.3% respectively, although both sub-indices remain elevated compared to recent lows.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Banking inquiry to start next month

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Original article by Richard Gluyas
The Australian – Page: 18 : 23-Jan-18

The banking royal commission will hold its first public hearing on 12 February, while its website has begun accepting submissions about alleged misconduct in the financial services industry. The Consumer Action Law Centre has made the first of two submissions, in which it has called upon the royal commission to focus on misconduct that affects disadvantaged consumers in particular. Meanwhile, Craig Williams of Citigroup has downgraded the Commonwealth Bank to a "sell" recommendation in the wake of its money-laundering scandal.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, CONSUMER ACTION LAW CENTRE, CITIGROUP PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, HIGH COURT OF AUSTRALIA