Author: roymorgansocial

Shorten hit by dual faction fury

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Original article by Joe Kelly, Samantha Hutchinson
The Australian – Page: 1 & 2 : 21-Dec-17

There is growing unrest within factions of the Australian Labor Party, ahead of several likely by-elections in early 2018. The powerful NSW Right faction has expressed concern about the party’s treatment of former Labor Senator Sam Dastyari, as well as the involvement of Opposition Leader Bill Shorten in negotiations with the Industrial Left faction in Victoria. A member of Labor’s Victorian Right faction says the deal for unions aligned with the Industrial Left to support the Centre Unity faction would not have proceeded without Shorten’s backing.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, TRANSPORT WORKERS’ UNION

Cash fails in bid to have AWU raid subpoenas thrown out

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 5 : 21-Dec-17

The Federal Court has ruled that Employment Minister Michaelia Cash must provide the Australian Workers’ Union with access to documents relating to a police raid on its offices in October. The AWU had sought access to communications between Cash’s office and the Registered Organisations Commission, which had authorised the raids as part of its investigation into an AWU donation to activist group GetUp.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. FAIR WORK OMBUDSMAN

Why Rupert is still in the news

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Original article by Con Frantzeskos
The Australian Financial Review – Page: 38 : 21-Dec-17

Rupert Murdoch’s decision to sell the bulk of 21 Century Fox’s assets to Walt Disney Company reflects that the fact that digital disruptors have largely only affected the channels for distributing content, rather than the content itself. Murdoch will retain TV assets that primarily broadcast live content, such as news and sport, in which digital players such as Facebook and Google have made relatively limited progress to date. Murdoch is also repositioning his media empire to focus on live news and sports at a local level, which has always been his forte.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, NEWS CORPORATION – ASX NWS, FOX BROADCASTING COMPANY, FOX NEWS, FOX SPORTS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED

Big ratings boost for the Big Bash

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Original article by John Stensholt
The Australian Financial Review – Page: 25 : 21-Dec-17

Nine Entertainment Company, the Ten Network and Fox Sports are likely to be the main bidders for the next Big Bash League broadcasting rights deal. The strong TV ratings for the first BBL match of the 2017-18 season should strengthen Cricket Australia’s bargaining power in negotiations for a new rights deal. Peak audience numbers for Ten’s coverage were 15 per cent higher than the corresponding match in 2016-17, while the Women’s BBL competition has also attracted strong TV ratings.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION, FOX SPORTS AUSTRALIA PTY LTD, BIG BASH LEAGUE, CRICKET AUSTRALIA

Bank inquiry’s massive dragnet

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Original article by Richard Gluyas
The Australian – Page: 13 & 16 : 21-Dec-17

The royal commission into financial services will require banks, insurers and superannuation funds to disclose any instances of misconduct since the start of 2008, and whether they are currently the subject of criminal or civil proceedings. Commissioner Kenneth Hayne has indicated that industry super funds will also be required provide an explanation for any expenditure that not is related to the fund’s administration or the payment of members’ benefits. Meanwhile, Small Business & Family Enterprise Ombudsman Kate Carnell, has reservations about a revised banking code of practice.

CORPORATES
AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, HIGH COURT OF AUSTRALIA

Christmas rally shows no sign of slowdown

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Original article by David Rogers
The Australian – Page: 18 : 21-Dec-17

The latest survey of fund managers by Bank of America Merrill Lynch suggests that the global sharemarket rally may continue into 2018. The December survey shows that the average cash balance of respondents has increased from 4.4 per cent to 4.7 per cent, compared with the average over the last decade of 4.5 per cent. The survey also found that 54 per cent of the 203 respondents expect global economic growth to be above trend over the next year, while inflation is expected to be below trend.

CORPORATES
BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, UNITED STATES. FEDERAL RESERVE BOARD, EUROPEAN CENTRAL BANK, FACEBOOK INCORPORATED, APPLE INCORPORATED, AMAZON.COM INCORPORATED, GOOGLE INCORPORATED, ALPHABET INCORPORATED, BAIDU.COM INCORPORATED, ALIBABA.COM CORPORATION, TENCENT HOLDINGS LIMITED, BELL POTTER SECURITIES LIMITED

Nationals’ split widens amid reshuffle fallout

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Original article by Laura Tingle
The Australian Financial Review – Page: 8 : 21-Dec-17

The Federal Government’s cabinet reshuffle has prompted disunity within the ranks of the National Party. Some members of the junior Coalition partner are displeased with the decision to drop Nationals MP Darren Chester from the infrastructure portfolio and Liberal-National Party MP Keith Pitt from his role as the assistant trade minister. There has been speculation that Pitt may seek to establish a separate Nationals party room or resign from the party and join the crossbench.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND

NBN compo for 60,000 homes

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Original article by Supratim Adhikari
The Australian – Page: 15 : 21-Dec-17

TPG Telecom has agreed to compensate nearly 8,000 customers whose NBN internet access speeds did not match those advertised by the telco. Australian Competition & Consumer Commission chairman Rod Sims says the limitations of fibre-to-the-node (FTTN) technology means that many customers were unlikely to get the speeds that had been advertised. Telstra and Optus had previously agreed to compensate customers using FTTN, and the ACCC expects that other telcos will do so as well.

CORPORATES
TPG TELECOM LIMITED – ASX TPM, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, EXETEL PTY LTD

Minerals Council pushes back over BHP threat

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Original article by Matt Chambers
The Australian – Page: 13 & 18 : 21-Dec-17

A Minerals Council of Australia spokesman says it intends to keep lobbying on the issues of climate and energy policy. This is despite BHP Billiton’s threat to cancel its membership if the MCA continues to advocate polices that are contrary to its own. However, BHP’s 50 per cent stake in the Bass Strait gas fields means it has less exposure to rising electricity prices on the east coast than fellow MCA members such as Rio Tinto and Glencore. BHP’s share of Bass Strait gas is equivalent to about 10 per cent of domestic demand for gas on the east coast. In contrast, BHP’s mining operations on the east coast account for around one per cent of National Energy Market demand.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MINERALS COUNCIL OF AUSTRALIA, RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

National vetting to halt sport doping

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Original article by Chip Le Grand
The Australian – Page: 3 : 20-Dec-17

The Australian Sports Commission will adopt a nationwide accreditation scheme for sports scientists and conditioning coaches. Such a scheme was one of the main recommendations of a Senate inquiry into the drug scandals at Essendon Football Club and the Cronulla Sharks. Sporting clubs that hire or continue to employ unaccredited sports scientists and support staff once the scheme takes effect will lose out on government funding. The scheme’s introduction has been welcomed by the Australian Institute of Sport.

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AUSTRALIAN SPORTS COMMISSION, ESSENDON FOOTBALL CLUB, CRONULLA SHARKS, AUSTRALIAN INSTITUTE OF SPORT, EXERCISE AND SPORTS SCIENCE AUSTRALIA LIMITED, AUSTRALIAN STRENGTH AND CONDITIONING ASSOCIATION, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN SPORTS ANTI-DOPING AGENCY