Author: roymorgansocial

Senate rivals clear path for Keneally’s prize

roymorgansocial Leave a comment

Original article by Andrew Clennell, Brad Norington
The Australian – Page: 2 : 18-Jan-18

The Transport Workers’ Union’s national secretary Tony Sheldon and United Voice’s Tara Moriarty have chosen not to seek nomination to replace Labor’s Sam Dastyari in the Senate. Former New South Wales premier Kristina Keneally now seems certain to replace Dastyari. She gained 45.12 per cent of the two-party-preferred vote in the Bennelong by-election in late 2017. Meanwhile, there is speculation that Labor will offer Sheldon a Senate seat at the next federal election, and Moriarty is tipped to contest the next state election.

CORPORATES
AUSTRALIAN LABOR PARTY, TRANSPORT WORKERS’ UNION, UNITED VOICE, HEALTH SERVICES UNION OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA

Health premium rises tipped

roymorgansocial Leave a comment

Original article by Sarah-Jane Tasker, Rachel Baxendale
The Australian – Page: 15 : 18-Jan-18

There is speculation that private health insurance premiums will rise by an average of four per cent in 2018. Macquarie Group analysts estimate that Medibank and NIB will increase their premiums by an average of 3.85 per cent and 3.8 per cent respectively. Macquarie has increased its share price targets for both insurers. Federal Health Minister Greg Hunt expects the lowest increase in health insurance premiums for 17 years. He will announce the premium increases in the next several weeks.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN MEDICAL ASSOCIATION LIMITED

Terror, trade top Tokyo agenda

roymorgansocial Leave a comment

Original article by Rosie Lewis
The Australian – Page: 2 : 18-Jan-18

Australian Prime Minister Malcolm Turnbull will meet with members of Japan’s National Security Council during a brief visit to Japan on 18 January. Turnbull will discuss issues such as joint military training exercises and Japan’s measures to protect civilians from the threat of terrorist attacks on its public transport system. Turnbull will also address Japanese and Australian business leaders during his trip, and he will call for action to finalise the proposed Trans-Pacific Partnership.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, JAPAN. NATIONAL SECURITY COUNCIL, JAPAN. OFFICE OF THE PRIME MINISTER, TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, CANADA. OFFICE OF THE PRIME MINISTER

Talks bid to keep the trains running

roymorgansocial Leave a comment

Original article by Andrew Clennell
The Australian – Page: 3 : 18-Jan-18

The NSW Business Chamber estimates that a proposed strike by Sydney train drivers on 29 January would cost the state economy about $A100m. The heads of Unions NSW and the Rail, Tram & Bus Union will hold talks with officials from Sydney Trains and Transport for NSW on 18 January, in a bid to avert industrial action. The State Government is offering a pay rise of 2.5 per cent, but Unions NSW secretary Mark Morey says recent productivity gains provide scope for a higher wage increase.

CORPORATES
UNIONS NSW, AUSTRALIAN RAIL, TRAM AND BUS INDUSTRY UNION, SYDNEY TRAINS, TRANSPORT FOR NSW, NSW BUSINESS CHAMBER LIMITED

Court cases could prevent super union

roymorgansocial Leave a comment

Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 18-Jan-18

Employers’ groups say the Registered Organisations Act should be used to block a merger between the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia. The Act prohibits a merger if either party is the subject of criminal legal proceedings. There are currently more than 40 outstanding cases against the two unions for breaching workplace laws, but the CFMEU and the MUA claim that the Act does not apply as these legal actions are civil rather than criminal. The Australian Mines & Metals Association and Master Builders Australia in turn contend that the legal actions are "quasi-criminal".

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

OZ looks to build on copper’s solid foundation

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 15 : 18-Jan-18

OZ Minerals expects copper production at its Prominent Hill mine in South Australia to be within the range of 100,000 to 110,000 tonnes in 2018, and 95,000 to 105,000 tonnes in 2019. Its previous guidance was for output of 90,000 to 100,000 tonnes in both years. Copper production at Prominent Hill totalled 112,008 tonnes in 2017, at an average cash cost of $US0.83 per pound. Meanwhile, OZ will invest some $A500m on development of its Carrapateena copper mine in 2018, while it has allocated at least $A38m to an exploration program in South Australia.

CORPORATES
OZ MINERALS LIMITED – ASX OZL

Rio Tinto wants US fraud charges dropped

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 23 : 18-Jan-18

Lawyers representing former Rio Tinto CEO Tom Albanese have rejected allegations that he concealed the true value of a Mozambique coal project, arguing that other officers and employees of the resources group were responsible for asset valuations and impairment charges. Albanese’s lawyers, as well as those representing former CFO Guy Elliot and Rio Tinto, will ask a US court to dismiss the Securities & Exchange Commission’s fraud charges.

CORPORATES
RIO TINTO LIMITED – ASX RIO, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION, JONES DAY

Business Confidence jumps 3.3pts in December to 117.4

roymorgansocial Leave a comment

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

In Australia, Business Confidence rose 3.3pts (+2.9%) to 117.4 in December 2017, according to the latest Roy Morgan Business Single Source survey, after the Federal Government won two critical by-elections to retain a governing majority. Businesses are the most positive heading into a new year since 2013, with 57.3% (up 3ppts) of businesses saying now is a "good time to invest in growing the business". Meanwhile, 52.2% (up 2.5ppts) of businesses expect "good times" financially over the next 12 months and 49.8% (up 5.8ppts) say the business will be "better off" financially this time next year. The large increase in Business Confidence in December was driven by rises in confidence in industries such as Manufacturing, Agriculture, forestry & fishing, Education & training, and Information media and telecommunications.

CORPORATES
ROY MORGAN LIMITED

Doyle on the brink

roymorgansocial Leave a comment

Original article by Ian Royall, Grant McArthur, Aneeka Simonis
Herald Sun – Page: 1 & 4 : 18-Jan-18

Melbourne Lord Mayor Robert Doyle has denied allegations that he sexually harassed a woman during his tenure as chairman of Melbourne Health. The alleged victim has told the inquiry headed by Ian Freckelton QC that Doyle touched her inappropriately during a Melbourne Health function in 2016. Victoria’s Health Minister Jill Hennessy has commissioned a separate inquiry, to be headed by Charles Scerri QC, into Doyle’s conduct. Doyle is expected to appear before the Freckelton inquiry shortly. He has denied the sexual harassment allegations made by former councillor Tessa Sullivan and Greens councillor Cathy Oke.

CORPORATES
MELBOURNE CITY COUNCIL, MELBOURNE HEALTH, VICTORIA. DEPT OF HEALTH AND HUMAN SERVICES, AUSTRALIAN GREENS

Wage growth slumps to a record 25-year low

roymorgansocial Leave a comment

Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 16-Jan-18

Wage increases for new enterprise agreements struck in the September 2017 quarter were just 2.2 per cent, the lowest increase in 25 years. The number of new agreements struck in the quarter was the lowest since 1995, while wage increases in union enterprise agreements were lower than those in non-union agreements, which is uncommon. The construction sector remained the industry where wage growth was strongest, while real estate and transport were among the sectors where wage growth was lowest.

CORPORATES
GRIFFITH UNIVERSITY, AUSTRALIAN LABOR PARTY, UBS HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY