Author: roymorgansocial

Sydney’s superstar house prices explained

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Original article by Vesna Poljak
The Australian Financial Review – Page: 13 : 23-Nov-17

Reserve Bank governor Philip Lowe says there are certain cities whose house prices increase a lot more than other cities in their countries. Lowe says this trend has been observed by his colleagues at other central banks, and the general consensus is that people are willing to pay higher prices for houses in some cities because of increased "economic or social returns" to be gained by living in them . Such places have been dubbed "superstar" cities, and Lowe says they include cities such as Sydney, Melbourne, Vancouver, Toronto, and San Francisco

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RESERVE BANK OF AUSTRALIA, ST GEORGE BANK LIMITED, AUSTRALIAN BUSINESS ECONOMISTS INCORPORATED, UNITED STATES. FEDERAL RESERVE BOARD

NXT senator steps down over dual citizenship

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 23-Nov-17

Nick Xenophon Team senator Skye Kakoschke-Moore has become the latest federal politician to become caught up in the dual-citizenship saga. Kakoschke-Moore announced her resignation from the Senate on 22 November, after discovering she had inherited dual UK citizenship through her mother. She asked that the Senate refer her case to the High Court when it resumes sitting in the week beginning 27 November.

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NICK XENOPHON TEAM, HIGH COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Airport rail begins within 10 years

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Original article by Adam Carey
The Age – Page: 1 : 23-Nov-17

Victorian Premier Daniel Andrews will tell a meeting of the Victorian Chamber of Commerce and Industry on 23 November that construction of a rail link to Melbourne Airport will begin by 2026. The announcement of the rail link follows a meeting between transport ministers from the Victorian and federal governments on 22 November, with the two governments agreeing to commit $A30 million towards funding a study to determine how best to construct the link.

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VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIAN CHAMBER OF COMMERCE AND INDUSTRY

LNP risks $20b for clean energy

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Original article by Mark Ludlow
The Australian Financial Review – Page: 10 : 23-Nov-17

The Liberal National Party has stated it will scrap the Queensland government’s 50 per cent renewable energy target if it wins the election on 25 November. It has also promised to construct a coal-fired power station. Premier Annastacia Palaszczuk notes Queensland already has eight coal-fired power stations, while she contends that scrapping the renewable energy target will put $A20 billion worth of investment at risk. LNP leader Tim Nicholls has stated the target is not realistic, while he contends the current government has used taxpayers’ funds to subsidise large solar energy projects.

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LIBERAL-NATIONAL PARTY OF QUEENSLAND, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, ADANI MINING PTY LTD, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN LABOR PARTY, AGL ENERGY LIMITED – ASX AGL, INFIGEN ENERGY LIMITED – ASX IFN, QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY, AUSTRALIAN BROADCASTING CORPORATION, NORTH AUSTRALIA INFRASTRUCTURE FACILITY

Soccer’s turbulent times continue as Postecoglou exits

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Original article by John Stensholt
The Australian Financial Review – Page: 12 : 23-Nov-17

Ange Postecoglou resigned as Socceroos coach on 22 November, with rumours that he would quit having circulated for some weeks. The suggestions as to why he might resign included that he had received jobs offers from overseas, and that he had "fallen out" with Football Federation Australia, which the FFA has denied. His resignation comes just seven months before Australia takes part in the FIFA World Cup. Normally, the FFA board would be selecting his replacement, but FIFA is likely to replace its directors with a "normalisation committee" in the very near future.

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FOOTBALL FEDERATION AUSTRALIA LIMITED, FEDERATION INTERNATIONALE DE FOOTBALL ASSOCIATION, WESTFIELD CORPORATION – ASX WFD, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CALTEX AUSTRALIA LIMITED – ASX CTX, CAPE LAMBERT RESOURCES LIMITED – ASX CFE, PREMIER FRUITS GROUP PTY LTD

NAB joins group bid to underwrite wind farm

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Original article by Ben Potter
The Australian Financial Review – Page: 8 : 23-Nov-17

The National Australia Bank, Australia Post and the City of Melbourne are among 14 entities that have entered into an electricity-purchase agreement with Pacific Hydro. The agreement, which will see the group acquire 88,000 megawatt hours of energy over the 10 years of the agreement, will underwrite Pacific Hydro’s construction of a wind farm near Ararat in Victoria. NAB chief customer officer Mike Baird says the agreement will help it to meet its goal of getting 50 per cent of its energy needs from renewable sources by 2025.

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NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA POST, CITY OF MELBOURNE, CITY OF MORELAND, CITY OF PORT PHILLIP, CITY OF YARRA, ZOOS VICTORIA, BANK AUSTRALIA, FEDERATION SQUARE MANAGEMENT PTY LTD, RMIT UNIVERSITY, MELBOURNE CONVENTION AND EXHIBITION CENTRE, NEXTDC LIMITED – ASX NXT

Right to die a step closer after marathon sitting

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Original article by Benjamin Preiss
The Age – Page: 3 : 23-Nov-17

Victoria’s upper house passed voluntary euthanasia legislation by 22 votes to 18 on 22 November. Passage of the legislation followed 28 hours of debate, and the bill will return to the lower house in the week beginning 27 November. Victorians with less than six months to live and in unbearable pain will now have the right to request that their life be ended; the six-months time frame is extended to 12 months for those with neurodegenerative diseases. The legislation is due to take effect in June 2018.

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AUSTRALIAN GREENS, LIBERAL PARTY OF VICTORIA, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIA. DEPT OF HEALTH AND HUMAN SERVICES, AUSTRALIAN CHRISTIAN LOBBY, AUSTRALIAN CONSERVATIVES, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, REASON PARTY

Amazon’s retail invasion begins

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Original article by Sue Mitchell, James Thomson
The Australian Financial Review – Page: 17 : 23-Nov-17

Australian retailing is set for its biggest shake-up in decades on 23 November, when Amazon "soft-launches" its electronic commerce operations, with a full launch expected on 24 November. Ben Gilbert from UBS says Amazon’s arrival in Australia is likely to have a detrimental impact on the profit margins of local retailers, as they will have to invest more in delivery and service, as well as lowering their prices. However, he believes investors have perhaps over-reacted to Amazon’s pending arrival in terms of how much they have pushed down the share price of local retailers.

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AMAZON.COM INCORPORATED, UBS HOLDINGS PTY LTD, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, GREENCROSS LIMITED – ASX GXL, SUPER RETAIL GROUP LIMITED – ASX SUL, DYSON APPLIANCES LIMITED, BREVILLE GROUP LIMITED – ASX BRG

Sexting with manager not harassment but baker loses job

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 23-Nov-17

The Fair Work Commission has dismissed an unfair dismissal claim made against Coles by one of its bakers. The supermarket operator had sacked Jay Higgins after his manager had complained about sexually explicit pictures that Higgins had sent to him. Coles dismissed him on the grounds of sexual harassment and serious misconduct. The Commission found that sending the pictures did not amount to sexual harassment, but that Higgins had breached Coles’ codes of conduct in regard to respect and dignity.

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AUSTRALIA. FAIR WORK COMMISSION, COLES SUPERMARKETS AUSTRALIA PTY LTD

Migrants shun state as reality hits home

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Original article by Andrew Burrell
The Australian – Page: 2 : 22-Nov-17

Many skilled migrants who came to Western Australia to take advantage of its resources boom have ended up in jobs that require less skills. This is due to the boom having ended at around the time they arrived, while others moved to other states in an attempt to find jobs more in line with their skills. A study undertaken by the Bankwest Curtin Economics Centre and released on 21 November has found that over half of the skilled migrants that came to WA and are still there are working in lower-skilled jobs. The study concludes that the poor utilisation of migrant skills is an issue that Australia as a whole needs to deal with.

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BANKWEST CURTIN ECONOMICS CENTRE, AUSTRALIAN BUREAU OF STATISTICS