Author: roymorgansocial

Employers abandon EBAs over errors

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 10 : 15-Nov-17

A spokeswoman for the Fair Work Commission has indicated that about 200 applications to have enterprise bargaining agreements approved were withdrawn in recent months due to technical errors. The issue centres on the need for EBAs to comply with requirements regarding notice of employee representational rights. The lower house has passed a bill that gives the FWC the power to ignore such errors in EBAs, although the bill has not been introduced to the Senate. The Opposition supports the bill, but it is also seeking to overturn the FWC’s ruling on Sunday penalty rates.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSIONAUSTRALIAN LABOR PARTYAUSTRALIA. DEPT OF EMPLOYMENT

PM in first strike on ALP star candidate Keneally

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Original article by David CroweAndrew Clennell
The Australian – Page: 1 & 5 : 15-Nov-17

The Opposition has defended its decision to select former New South Wales premier Kristina Keneally as its candidate for the Bennelong by-election. The Federal Government was quick to highlight her links to corrupt former NSW politicians Eddie Obeid, Ian Macdonald and Joe Tripodi. John Alexander will recontest the seat for the Liberal Party after he was forced to step down due to concerns about his dual citizenship status. The Coalition faces the prospect of becoming a minority government if it loses the by-election on 16 December.

CORPORATES
AUSTRALIAN LABOR PARTYLIBERAL PARTY OF AUSTRALIAHIGH COURT OF AUSTRALIA

Crackdown on foreign influence

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Original article by Primrose Riordan
The Australian – Page: 2 : 15-Nov-17

The Federal Government will follow the lead of its US counterpart in legislating to curb the influence of foreign lobbyists on Australian politics and society. Overseas-based media outlets are also expected to be subject to the new regulations, which are likely to be based on the Foreign Agents Registration Act in the US. The legislation will be introduced in the current session of parliament, and will include a ban on foreign donations to political parties.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPTAUSTRALIAN SECURITY INTELLIGENCE ORGANISATIONAUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON INTELLIGENCE AND SECURITYWILEY REIN AND FIELDING LLPUNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

China’s foot on the gas as exports boom

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Original article by Matt Chambers
The Australian – Page: 17 & 24 : 15-Nov-17

The spot price of LNG has risen by 53 per cent in the last two months, amid growing demand as China attempts to address air quality concerns by promoting alternatives to coal as an energy source. This in turn has resulted in a sharp rise in shipments from Queensland’s three LNG projects. Meanwhile, some market observers forecast that a global LNG shortage will occur earlier in the next decade than previously anticipated.

CORPORATES
SANTOS LIMITED – ASX STOROYAL DUTCH SHELL PLCORIGIN ENERGY LIMITED – ASX ORGCONOCOPHILLIPSWOODSIDE PETROLEUM LIMITED – ASX WPLENERGY EDGEENN GROUPAUSTRALIAN ENERGY MARKET OPERATOR LIMITEDAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Deal-maker Davis tipped for Rio chair

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Original article by Peter KerPatrick Durkin
The Australian Financial Review – Page: 15 : 15-Nov-17

Rio Tinto has declined to comment on speculation that Mick Davis could succeed chairman Jan du Plessis. Davis was the CEO of Xstrata until it merged with Glencore, and he is still a director of X2 Resources. Rio Tinto director Sam Laidlaw is also regarded as a contender to replace du Plessis, who advised earlier in 2017 that he intends to step down. Peter O’Connor of Shaw & Partners says Rio Tinto might want to consider appointing a chairman with strong corporate governance credentials given the recent series of scandals involving the resources group.

CORPORATES
RIO TINTO LIMITED – ASX RIOXSTRATA PLCGLENCORE PLCSHAW AND PARTNERS LIMITEDCONSERVATIVE PARTY (GREAT BRITAIN)SOCIEDAD QUIMICA Y MINERA SASASOL LIMITEDUNITED STATES. SECURITIES AND EXCHANGE COMMISSIONAUSTRALIAN INSTITUTE OF COMPANY DIRECTORS

Prime tie-up with Seven makes sense: Hartigan

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Original article by Max Mason
The Australian Financial Review – Page: 25 : 15-Nov-17

Merger discussions between Seven West Media and regional affiliate Prime Media Group stalled in September, shortly after cross-media ownership reforms were approved by the Senate. However, Prime chairman John Hartigan has told the company’s annual meeting that a merger with Seven would make sense for both companies, and he has warned that merging with another media company will be necessary if Prime is to remain "relevant and sustainable".

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRTSEVEN WEST MEDIA LIMITED – ASX SWM21ST CENTURY FOX INCORPORATEDWALT DISNEY COMPANY

Bank testing AI to monitor mood of staff and customers

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Original article by James Eyers
The Australian Financial Review – Page: 18 : 15-Nov-17

Artificial intelligence technology may be utilised by Westpac in a number of areas of its business, including the monitoring of employees’ performance and assessing the capacity of mortgage borrowers to repay their loans. The AI-based cameras are also being evaluated in terms of their ability to assess the mood of employees based on their facial expressions. Westpac is also developing AI-based applications in partnership with companies such as Onboard Informatics and Hyper Anna.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBCONBOARD INFORMATICSHYPER ANNAALIBABA GROUP HOLDING LIMITED

ANZ-Roy Morgan Australian Consumer Confidence up 2% to 114.8 despite political uncertainty

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Nov-17

ANZ-Roy Morgan Australian Consumer Confidence bounced 2.0% to 114.8 in the week ended 12 November 2017, its highest level in seven weeks. The rise was primarily driven by a lift in sentiment towards economic conditions, only slightly offset by a fall in sentiment towards current financial conditions. Households’ views towards both current and future economic conditions rose 3.5% and 7.0% respectively. Views towards current conditions are at their highest point in 14 weeks. Meanwhile, households were slightly more pessimistic (-0.9%) regarding the state of their current finances. Encouragingly, views towards future conditions remained unchanged following three consecutive falls. The four-week average for the "financial situation next year" subindex currently sits under its long-term average (122.6 vs 123.4).

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

Don’t quit party early: Quinton sees more gains

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Original article by David Rogers
The Australian – Page: 24 : 15-Nov-17

The benchmark S&P/ASX 200 fell below 6,000 points on 14 November, following a gain of seven per cent over the last five weeks. Peter Quinton of Bell Financial Group believes that the S&P/ASX 200 is trading at fair value, which suggests that investors should continue to buy equities. He adds that the local bourse’s attractive earnings per share growth forecast and its grossed-up dividend yield also support the case for equities. Although Quinton’s "bear market checklist" suggests that a correction of 10 per cent is likely, it should not be any larger than this and will create more buying opportunities.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEXBELL FINANCIAL GROUP LIMITED – ASX BFGSTANDARD AND POOR’S 500 INDEXWOODSIDE PETROLEUM LIMITED – ASX WPLROYAL DUTCH SHELL PLC

Government must keep its hands off super: Keating

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Original article by Andrew White
The Australian – Page: 17 & 21 : 14-Nov-17

Former treasurer Peter Costello recently suggested that a government-run fund could be set up to look after default superannuation contributions. However, this idea does not have the support of former prime minister Paul Keating, who initiated compulsory superannuation. He says this would amount to a monopoly which the Liberal Party would want to eventually sell off to the private sector. The Productivity Commission is currently investigating the best way forward for determining how default super contributions should be allocated.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIAN LABOR PARTY