Author: roymorgansocial

Australia’s emissions rise 5pc in two years

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Original article by Ben Potter
The Australian Financial Review – Page: 9 : 20-Dec-17

Australia will find it hard to meet its commitments under the Paris climate agreement, based on the latest figures on greenhouse gas emissions. Emissions have risen five per cent in the last two years, and are currently at 554 million tonnes of carbon dioxide per annum. This is tipped to rise to 570 million tonnes per annum by 2030 if measures such as new emission standards for cars and the federal government’s national energy guarantee are not imposed with suitable rigour. The farming and transport sectors are tipped to contribute the biggest increase in emissions in coming years, while the electricity sector is the largest contributor to greenhouse gas emissions.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY

Amazon to trigger big change in ad spending

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Original article by Sue Mitchell
The Australian Financial Review – Page: 16 : 20-Dec-17

UBS forecast that Amazon will boast revenue of $A3.5 billion in Australia by 2023, while Morgan Stanley expects it to be generating revenue of $A12 billion by 2026. Search marketing firm Adthena forecasts that Amazon’s share of internet searches in retail categories could be between 40 per cent and 70 per cent by 2023, which will require existing Australian retailers to change their advertising strategies and improve their online sites. PHD Media CEO Mark Coad notes that Amazon is effectively becoming a default search engine for some consumers when it comes to looking for products.

CORPORATES
AMAZON.COM INCORPORATED, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, ADTHENA, PHD MEDIA, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, KOGAN.COM LIMITED – ASX KGN, THE GOOD GUYS, APPLIANCES ONLINE PTY LTD, M&C SAATCHI AGENCY PTY LTD, BOHEMIA

Investors set to profit from Aconex sale

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 16 : 20-Dec-17

Aconex founders Leigh Jasper and Rob Phillpot are not the only ones who will do well out of Oracle’s $A1.6 billion bid for the construction software firm. Aconex chairman Adam Lewis and his family should gain around $15.4 million from the transaction, while the Sypkes family, who started the Tasmania-based Chickenfeed discount chain, stand to receive about $A27.2 million. Jasper and Phillpot should get about $A94 million and $A88 million respectively if Aconex shareholders approve Oracle’s bid.

CORPORATES
ACONEX LIMITED – ASX ACX, ORACLE CORPORATION, CHICKENFEED PTY LTD, ATLASSIAN CORPORATION PLC, AUSTRALIAN DISCOUNT RETAIL PTY LTD, SPARK INFRASTRUCTURE GROUP – ASX SKI, McKINSEY AND COMPANY, UNIVERSITY OF MELBOURNE, APIAM ANIMAL HEALTH LIMITED – ASX AHX, MELBOURNE CRICKET CLUB, CITI AUSTRALIA PTY LTD, TEXTURA AUSTRALASIA PTY LTD, SAP AG

Sky News at centre of Foxtel tussle over fees

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Original article by Dana McCauley
The Australian – Page: 15 : 20-Dec-17

The proposed merger between Foxtel and Fox Sports is in doubt due to a dispute between Foxtel’s joint owners over carriage fees for Sky News. Foxtel currently pays about $A30m a year to broadcast the news channel, but Sky News owner News Corp is seeking an increase in this fee. Foxtel’s 50 per cent owner Telstra has signalled that it is open to an increase in the carriage fee, but its proposed increase is lower than that sought by News Corp. The merger between Foxtel and Fox Sports recently gained regulatory approval.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, SKY NEWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, SKY PLC

Mortgage brokers added to banking inquiry purview

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Original article by James Frost
The Australian Financial Review – Page: 17 : 20-Dec-17

Commissioner Kenneth Hayne has broadened the banking royal commission’s terms of reference to include the $A344 billion mortgage broking sector. Many had been surprised that the sector was not included in the royal commission’s original terms of reference, given that over 50 per cent of all mortgages are generated via mortgage brokers. Mortgage & Finance Association of Australia CEO Mike Felton contends that the sector’s professional standards are improving, while he notes that it has been the subject of two major reviews in the last 18 months.

CORPORATES
MORTGAGE AND FINANCE ASSOCIATION OF AUSTRALIA, MORTGAGE CHOICE LIMITED – ASX MOC, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF THE TREASURY

Shorten seats for union support deal

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Original article by Staff reporters
The Australian – Page: 4 : 20-Dec-17

Unions linked to the Australian Labor Party’s Industrial Left faction are understood to have done a deal with Opposition Leader Bill Shorten and his ­Centre Unity faction. The deal is said to include increased pre-selection of candidates belonging to the IL faction for seats at upcoming elections, in return for the IL agreeing to support Shorten remaining as Labor leader. Unions belonging to the IL faction include the Maritime Union of Australia, the ­Finance Sector Union and the Construction, Forestry, Mining & Energy Union.

CORPORATES
AUSTRALIAN LABOR PARTY, MARITIME UNION OF AUSTRALIA, AUSTRALIAN RAIL, TRAM AND BUS INDUSTRY UNION, FINANCE SECTOR UNION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, HEALTH AND COMMUNITY SERVICES UNION

Boost for conservatives as PM resets his team

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Original article by Joe Kelly
The Australian – Page: 1 & 4 : 20-Dec-17

The Federal Government’s new cabinet includes five women, with Employment Minister Michaelia Cash taking on the new super portfolio of jobs and innovation. Dan Tehan will replace Christian Porter as Social Services Minister, while Porter will succeed George Brandis as Attorney-General. Deputy Prime Minister Barnaby Joyce will take over the infrastructure and transport portfolio from Victorian MP Darren Chester, who has been relegated to the backbench after declining the offer of becoming an assistant minister. Meanwhile, backbencher David Littleproud will take on Joyce’s former portfolio of agriculture.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF FINANCE, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN BORDER FORCE, AUSTRALIAN CRIMINAL INTELLIGENCE COMMISSION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIA. OFFICE OF THE INSPECTOR-GENERAL OF INTELLIGENCE AND SECURITY, AUSTRALIA. INDEPENDENT NATIONAL SECURITY LEGISLATION MONITOR

No mischief at Westpac, Rat told RBA

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Original article by James Frost
The Australian Financial Review – Page: 26 : 20-Dec-17

Transcripts from the court case concerning the activities of Westpac traders in regard to alleged manipulation of the bank bill swap rate were released by Federal Court Justice Jonathan Beach on 19 December. Closing submissions were presented on 14 December, and a judgment is not expected until 2018. The transcripts were taken from phone calls, including one made by Westpac trader Colin Roden to Reserve Bank of Australia official Matt Boge, in which Roden seeks to assure that himself and fellow traders are not up to any "mischief".

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, FEDERAL COURT OF AUSTRALIA, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN FINANCIAL MARKETS ASSOCIATION INCORPORATED

ANZ-Roy Morgan Australian Consumer Confidence ends 2017 on a high at 116.5

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Dec-17

ANZ-Roy Morgan Australian Consumer Confidence rose 1.2% to 116.5 in the week ended 17 December. The details were positive, with all sub-indices except "time to buy a household item" posting gains. Sentiment towards both current and future economic conditions rose for the third straight week (2.4% and 1.1% respectively). This and other gains are indicative of the sustained turnaround in overall sentiment since the low for the year in August. Views towards current financial conditions jumped a solid 3.6%, more than offsetting the 2.7% fall previously. Views towards future financial conditions improved 0.5%, following a 2.8% fall in the previous week. Both sub-indices currently sit above their long-term averages.

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

NAB’s Henry calls for action on forgotten tax system review

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Original article by James Eyers, James Thomson
The Australian Financial Review – Page: 9 : 18-Dec-17

Ken Henry prepared a major report into Australia’s tax system in 2010, when he was secretary of the Treasury under former prime minister Kevin Rudd. Henry is currently chairman of National Australia Bank. When asked by a shareholder at its AGM on 15 December whether he favoured tax reform, he said that there were lots of proposals in his 2010 report that he would like to see adopted, including a reduction in the company tax rate.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BUSINESS COUNCIL OF AUSTRALIA