Author: roymorgansocial

Shorten ally has unofficial role in HSU

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 14 : 1-Dec-17

The Health Workers Union had sought to seek costs against former official Sel Sanli after he abandoned unfair dismissal proceedings against it. Sanli claimed HWU boss Diana Asmar sacked him because he refused to support the election of her husband David to an important role within Victorian Labor, of which he was a delegate. Sanli abandoned his claim after the HSU released phone records of him talking to escort workers and viewing pornography. However, the Fair Work Commission has dismissed the HWU’s cost claim, while finding that Sanli’s claims about his sacking were justified. It concluded David Asmar had a major influence on the HSU, despite not working for it.

CORPORATES
HEALTH WORKERS UNION, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, DELOITTE TOUCHE TOHMATSU LIMITED, HEALTH SERVICES UNION OF AUSTRALIA

Global beer giant snaps up minnow

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Original article by Simon Evans
The Australian Financial Review – Page: 22 : 1-Dec-17

Brewing giant Anheuser-Busch InBev has acquired Adelaide-based craft beer maker Pirate Life for an undisclosed sum. Pirate Life currently produces around 3 million litres of beer at its Hindmarsh plant, but Anheuser-Busch InBev intends to provide it with $A10 million to help it build a bigger brewery, increasing its annual output to around 8 million litres. Anheuser-Busch InBev’s purchase of Pirate Life comes two months after it bought Sydney-based brewer 4 Pines.

CORPORATES
ANHEUSER-BUSCH INBEV SA/NV, PIRATE LIFE, 4 PINES BREWING COMPANY PTY LTD, CARLTON AND UNITED BREWERIES, COOPERS BREWERY LIMITED, CRAFT BEER INDUSTRY ASSOCIATION OF AUSTRALIA

Dastyari doubt after Shorten sacks him, again

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Original article by Primrose Riordan, Greg Brown
The Australian – Page: 1 & 4 : 1-Dec-17

Bill Shorten says Sam Dastyari will have to work hard to regain the trust of his fellow Labor party colleagues. Shorten’s comments come after Dastyari was forced to resign from a Labor leadership role in federal parliament for the second time in just over a year over his links with Chinese political donor Huang Xiangmo. Prime Minister Malcolm Turnbull has called for Dastyari to resign from parliament over the issue. Shorten does not believe Dastyari is "unloyal" to Australia, while he denied government claims that Dastyari is a "traitor"

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Seven production head Brad Lyons takes redundancy

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Original article by Dana McCauley
The Australian – Page: Online : 1-Dec-17

Seven’s director of production Brad Lyons will leave the television station at the end of 2017, after he opted to take a voluntary redundancy. Lyons joined Seven in 1997, with "Dancing with the Stars", "My Kitchen Rules", and "The Amazing Race Australia" just some of the programs he has been involved with. CEO Tim Worner noted that Lyons was held in high regard by both Australian and overseas production firms, and that he had made an "outstanding contribution" to Seven.

CORPORATES
SEVEN NETWORK LIMITED

Bank probe hits union super

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Original article by Phillip Coorey, James Eyers
The Australian Financial Review – Page: 1 & 6 : 1-Dec-17

The federal government announced on 30 November that it would hold a royal commission into the financial services sector. The royal commission will cost $A75 million and run for 12 months. Its terms of reference are not as broad as the private members’ bill that Nationals Senator Barry O’Sullivan was looking to introduce and which was seen a major factor in Prime Minister Malcolm Turnbull and Treasurer Scott Morrison’s decision to hold a royal commission. The government’s decision to include an examination of union-backed industry superannuation funds as part of the commission’s terms of reference is seen as "payback" to Labor for its part in forcing the government to change its mind on the issue.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, RESERVE BANK OF AUSTRALIA, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN GREENS, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, JCP INVESTMENT PARTNERS LIMITED, UBS HOLDINGS PTY LTD, AUSTRALIAN BANKERS’ ASSOCIATION, WESFARMERS LIMITED – ASX WES, BANK OF QUEENSLAND LIMITED – ASX BOQ, FINANCE SECTOR UNION

Aristocrat Leisure lands games giant Big Fish for $1.3 billion

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Original article by John Stensholt
The Australian Financial Review – Page: 19 : 1-Dec-17

Aristocrat Leisure’s push to reduce its reliance on poker machine sales continued on 30 November with its announcement that it had acquired US social gaming firm Big Fish Gaming for $US900 million ($A1.3 billion). The purchase will increase the percentage of its revenue that comes from digital sources to around 38 per cent, and follows its August purchase of Israeli-based game developer Plarium. Aristocrat also handed down its 2017 fiscal year results on 30 November, reporting a net profit of $A495 million, up 41 per cent, earned on revenue of about $A2.4 billion.

CORPORATES
ARISTOCRAT LEISURE LIMITED – ASX ALL, BIG FISH GAMING INCORPORATED, PLARIUM LLC, CHURCHILL DOWNS, MOODY’S INVESTORS SERVICE INCORPORATED, VIDEO GAMING TECHNOLOGIES INCORPORATED

Fortescue boasts a few female firsts in corporate shake-up

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Original article by Paul Garvey
The Australian – Page: 22 : 1-Dec-17

Fortescue Metals announced 30 November that Elizabeth Gaines is to replace outgoing CEO Nev Power, making Gaines the first female to head up a major Australian mining firm. Greg Lilleyman, who had been seen as a contender with Gaines to replace Power, has been promoted from director of operations to chief operating officer, while Julie Shuttleworth, currently in charge of Fortescue’s Solomon operations, has been appointed to the newly created role of deputy CEO. It is believed it makes Fortescue the first ASX 200 company to have females occupying the top two executive roles.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Opportunity for financial planners to gain trust

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Dec-17

The new 2017 edition of the Roy Morgan "Superannuation & Wealth Management in Australia" report has found financial planners need to gain a greater level of trust among Australians. Trust in financial planners for ethics and honestly has shown no real improvement since the survey began in 2009, declining by 2% points in the past 12 months to 25%, back to the 2009 level. The report suggests ongoing confusion about which financial planners offer independent advice may have a part to play in this issue. Despite low trust in the industry, those who purchase their superannuation through an independent financial planner/adviser are the most satisfied (71.3%). The next most satisfied group are those who purchased through an accountant, with a satisfaction level of 68.8% in the latest 12-month period.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Kirkland Lake eyes Australian growth

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 1-Dec-17

$A4 billion Canadian mining firm Kirkland Lake Gold, the owner of the Fosterville gold mine near Bendigo in Victoria, began trading its securities on the ASX on 30 November. Fosterville was producing just 105,000 ounces of gold a year as recently as 2014, but Kirkland Lake Gold CEO Tony Makuch believes it could be producing 400,000 ounces of gold by 2020. Kirkland Lake Gold also has an interest in the Pilbara region of Western Australia through its stake in Novo Resources.

CORPORATES
KIRKLAND LAKE GOLD LIMITED, ASX LIMITED – ASX ASX, NOVO RESOURCES CORPORATION, TORONTO STOCK EXCHANGE

SA users pay the most for electricity

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Original article by Michael Owen
The Australian – Page: 7 : 30-Nov-17

South Australian Premier Jay Weatherill will commission what is the world’s biggest lithium-ion battery on 1 December. The 100-megawatt battery, which has been built by Tesla, forms part of Weatherill’s $A550 million energy plan, which he put in place following that state’s power problems in 2016. Meanwhile, recent claims by Weatherill that South Australia’s wholesale electricity prices are the lowest of any eastern state have been contradicted by data released by the ASX on 29 November.

CORPORATES
SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, TESLA INCORPORATED, 1414 DEGREES