Author: roymorgansocial

Malcolm Turnbull’s republic talk dismays colleagues

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Original article by Andrew Tillett
The Australian Financial Review – Page: Online : 3-Jan-18

Prime Minister Malcolm Turnbull’s talk of holding a postal ballot to decide how a future head of Australia might be decided does not have the support of Coalition MPs. Liberal MP Craig Kelly wants to see the government focus on issues such as energy prices in 2018, while Ian Goodenough says any talk of a republic "was a distraction". Acting Opposition Leader Tanya Plibersek described Turnbull’s postal ballot suggestion as a "thought bubble"

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Single medical bills one step too far as doctors stand their ground

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Original article by Sean Parnell
The Australian – Page: Online : 3-Jan-18

Sussan Ley, who was federal health minister at the time, made an election commitment in 2016 that patients would receive a single medical bill covering all procedures and expenses. However, Michael Gannon, the president of the Australian Medical Association, says that is something his members would never agree to, saying it would place too much power in the hands of the person who would be charged with putting it together. The issue comes at a time of calls for greater transparency of medical fees and expenses.

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AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HEALTH

Deportation awaits jailed African thugs

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Original article by Samantha Hutchinson
The Australian – Page: 2 : 3-Jan-18

One member of a African street gang in Victoria has been deported to New Zealand, while six others with links to the gangs are awaiting deportation. All seven have had their visas cancelled, with six of the seven appealing the cancellations. Meanwhile, comments by both Victorian Police Minister Lisa Neville and acting Acting Victorian Police Chief Commissioner Shane Patton on 2 January appear to be an admission that the state does have a problem with violent African street gangs, despite both the police and the Andrews government having previously denied such a problem existed.

CORPORATES
VICTORIA. DEPT OF JUSTICE AND REGULATION, VICTORIA POLICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PayPal faces boycott over lack of services in Palestine

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Original article by Andrew Tillett
The Australian Financial Review – Page: Online : 3-Jan-18

The Australian Palestinian Advocacy Network (APAN) has urged Australians to boycott online payments provider Paypal. It accuses Paypal of engaging in "online apartheid" by providing its services to Israelis but not to Palestinians living in Gaza and the West Bank, even though they use the same currency, the Israeli shekel. PayPal states its lack of service to Palestine is not politically motivated, but that there are certain compliance and regulatory issues that need to be addressed before it can provide its service to Palestinians.

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AUSTRALIAN PALESTINIAN ADVOCACY NETWORK, PAYPAL INCORPORATED, ACTION AID

Fresh GST fight with states looms

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Original article by Andrew Tillett
The Australian Financial Review – Page: 3 : 3-Jan-18

Federal Treasurer Scott Morrison has given the Productivity Commission more time to complete its review of how the goods and services tax is distributed among the states. The PC had been due to complete its inquiry by 31 January, but has now been given until 15 May. The delay is expected to particularly upset Western Australia, which has long contended that it loses out under the current GST distribution model. Morrison says the PC’s interim report into the GST has clearly shown the current system is "broken" and needs to be fixed.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET

WA Premier Mark McGowan defends iron ore mining ban on green grounds

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Original article by Brad Thompson
The Australian Financial Review – Page: Online : 3-Jan-18

Western Australian Premier Mark McGowan has banned Mineral Resources from carrying out iron ore mining in the Helena-Aurora Ranges conservation park. Mineral Resources had sought to mine there in order to allow it to extend its Yilgarna operations for a further 15 years. McGowan’s decision puts at risk over 400 jobs, while Mineral Resources has estimated the decision will cost the WA government around $A1 billion in state revenue. Mineral Resources is expected to wind up operations at Yilgarna by the end of 2018, and will try to deploy affected workers elsewhere.

CORPORATES
WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, MINERAL RESOURCES LIMITED – ASX MIN, CONSERVATION COUNCIL OF WESTERN AUSTRALIA INCORPORATED, SINOSTEEL CORPORATION

Big banks to slash 20,000 jobs

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Original article by James Frost
The Australian Financial Review – Page: 1 & 4 : 3-Jan-18

Australia’s big four banks reduced their full-time employee numbers by just under 1,500 in 2017. However, banking analysts suggest that Westpac, the National Australia Bank, the ANZ Bank, and the Commonwealth Bank will be a lot more active in 2018 in terms of job shedding, with an overall reduction of 20,000 full-time employees seen as likely. Victor German from Macquarie says he had thought the big four might have been a bit more active in 2017 in terms of job cuts, while he urged them not to rely on natural attrition to get employee numbers down.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, CLSA AUSTRALIA PTY LTD, KPMG AUSTRALIA PTY LTD, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, COMMINSURE

Mumbrella now US owned after $8m sale

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Original article by Dana McCauley
The Australian – Page: 23 : 23-Dec-17

US firm Diversified Communications has acquired Mumbrella for an undisclosed amount. Tim Burrowes, who co-founded the marketing and media website in 2008, said he planned to continue in his role as content director, and that the price that Diversified Communications had paid for Mumbrella was "good", but not enough to take early retirement on. Mumbrella generated revenue of $A7 million in 2016-17, allowing it to make its first $A1 million profit, and it is believed Diversified Communications paid around $A8 million for it. Mumbrella makes most of its money from trade shows, and Burrowes says Diversified Communication’s ownership of it will help it to grow that side of its business.

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MUMBRELLA, DIVERSIFIED COMMUNICATIONS

Gupta buys NSW coal mine from Glencore

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Original article by James Thomson
The Australian Financial Review – Page: 14 : 3-Jan-18

Sanjeev Gupta’s GFG Alliance has acquired Glencore’s Tahmoor coal mine in New South Wales for an undisclosed sum, although the mine’s value is reckoned to be around $A500 million. Coal from the mine will support Gupta’s steelmaking operations in South Australia, with Gupta having acquired the assets of failed steelmaker Arrium, including its Whyalla steelworks, in August 2017. Tahmoor produces around two million tonnes of coal per annum, most of which is used for steelmaking.

CORPORATES
GFG ALLIANCE, GLENCORE AUSTRALIA PTY LTD, YANCOAL AUSTRALIA LIMITED – ASX YAL, RIO TINTO LIMITED – ASX RIO, COAL AND ALLIED INDUSTRIES LIMITED, LIBERTY HOUSE GROUP, SIMEC, ZEN ENERGY PTY LTD

Slave labour laws to catch out retailers

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Original article by Patrick Hatch
The Age – Page: 20 : 2-Jan-18

A joint Federal Parliament committee has recommended the adoption of a Modern Slavery Act, with committee chairman Chris Crewther hopeful it will be introduced sometime in 2018. If adopted, the Act would require firms above a $A50 million revenue threshold to disclose what efforts they have made to ensure slavery or worker abuse is not present within their supply chains. Globally, around 40 million people are reckoned to be "modern slavery" victims. Australian Retailers Association chairman Russel Zimmerman is hopeful the new legislation will not be too burdensome.

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AUSTRALIAN RETAILERS ASSOCIATION, LIBERAL PARTY OF AUSTRALIA, STOP THE TRAFFIK