Author: roymorgansocial

Doubts over legal regime to re-detain those released from Australian immigration detention, FoI documents reveal

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Original article by Paul Karp
The Guardian Australia – Page: Online : 9-Oct-24

Former immigration minister Andrew Giles stated in May that community safety orders will be a key element of the federal government’s respond to the High Court’s landmark ruling that indefinite immigration detention is unlawful. However, the minutes of a meeting attended by senior home affairs officials in mid-January show that concerns were raised about the effectiveness of the CSO regime. Amongst other things, the officials noted that it could take up to nine months for courts to hear the first applications for CSOs, which would enable non-citizens to be returned to detention if they commit a serious crime.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, HIGH COURT OF AUSTRALIA

Qantas, ACCC agree on $120m penalty for ghost flights

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Original article by Robyn Ironside
The Australian – Page: 15 & 19 : 9-Oct-24

The Federal Court has approved a settlement between Qantas and the Australian Competition & Consumer Commission regarding the former’s "ghost flight" scandal. Qantas has agreed to pay a $100m fine and pay affected customers a total of $20m in compensation for selling tickets for flights that had already been cancelled during the pandemic. The ACCC was represented by Chris Caleo KC, who argued that complying with consumer law must be a priority for Qantas, given that it is the nation’s largest airline and carries millions of passengers each year.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA

Roy Morgan Business Confidence slumps 7pts to 94.3 in September with rising concerns about the next 12 months

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Oct-24

In September 2024, Roy Morgan Business Confidence was 94.3 (down 7pts since August), due to rising concerns about business conditions over the next 12 months after the Stage 3 income tax cuts gave a short-term boost to Business Confidence in July and August. Business Confidence is now 16.9pts below the long-term average of 111.2, although it is up 7.2pts on September 2023. Now 52.2% (down 4.2ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while 44.7% (up 3ppts) expect ‘bad times’. Meanwhile, 41.1% (down 5.1ppts) of businesses expect the business to be ‘better off’ financially this time next year, while 25% (up 5.3ppts) expect the business to be ‘worse off’ financially. The latest Roy Morgan Business Confidence results for September are based on 1,480 detailed interviews with a cross-section of Australian businesses from each State and Territory.

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ROY MORGAN LIMITED

Record number of small businesses go to the wall

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Original article by Geoff Chambers
The Australian – Page: 2 : 9-Oct-24

Data from the Australian Securities & Investments Commission shows that administrators were appointed to 6,636 companies in the six months to September. The data also shows that 11,053 companies went into administration in the 2023-24 financial year. Some 22,800 businesses have collapsed since the federal election in May 2022, and shadow small business minister Sussan Ley says the government is on track to be the worst on record with regard to business insolvencies. Meanwhile, a report from the Council of Small Business Organisations Australia and the Commonwealth Bank has warned that operating conditions for small businesses are "arguably the most challenging in living memory".

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

National support up in September as National-led Government increases lead to 14% points after RBNZ cut interest rates

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Oct-24

Roy Morgan’s New Zealand Poll for September 2024 shows that support for the National-led Government (National, ACT & NZ First) has increased by 2% points to 55%, increasing its lead over the Labour-Greens-Maori Party Parliamentary Opposition on 41% (down 2% points). Support for the National Party rose 1.5% points to 37.5% (the highest level of support since March), while support for ACT was up 0.5% points to 10% and support for NZ First was unchanged at 7.5%. Meanwhile, support for Labour fell by 3.5% points to 23%, but support for the Greens was up 1% point to 14% and support for the Maori Party rose 0.5% points to 4%. A further 4% (unchanged) of electors supported a minor party outside Parliament. The survey results for September would lead to 69 seats (up one seat from the election) being won by the current National/ ACT/ NZ First governing coalition compared to 51 seats (down four seats) for the Opposition. This latest New Zealand Roy Morgan Poll on voting intention was conducted by telephone – both landline and mobile – with a New Zealand-wide cross-section of 902 electors from August 26 to September 22. Meanwhile, the Roy Morgan Government Confidence Rating fell 5pts to 92.5 in September.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, NATIONAL PARTY OF NEW ZEALAND, ACT NEW ZEALAND, NEW ZEALAND FIRST PARTY, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, THE MAORI PARTY

ANZ-Roy Morgan Consumer Confidence up 1.5pts to 83.5

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Oct-24

ANZ-Roy Morgan Consumer Confidence rose 1.5pts to 83.5 in the week to 6 October. Despite the increase, Consumer Confidence has now spent a record 88 straight weeks below the mark of 85. However, it is now 3.4 points above the same week a year ago (80.1), and in line with the 2024 weekly average of 82.1. Consumer Confidence was up in New South Wales, Queensland and Western Australia, unchanged in Victoria, and down in South Australia. Now 23% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 48% (down 5ppts) say their families are ‘worse off’. Looking forward, 36% (up 4ppts) of Australians expect their family to be ‘better off’ financially this time next year (the highest figure for this indicator since March 2022), while 31% (unchanged) expect to be ‘worse off’. Now 9% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 32% (up 1ppt) expect ‘bad times’. Meanwhile, 20% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 49% (also unchanged) say now is a ‘bad time to buy’.

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

Jewish leaders: put Greens last

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Original article by Joe Kelly, David Tanner
The Australian – Page: 1 & 5 : 9-Oct-24

The Executive Council of Australian of Jewry and the Zionist Federation of Australia have joined forces to urge Labor and the Coalition to preference the Greens last on their how-to-vote cards at the upcoming federal election. The two Jewish groups argued in their letter to Prime Minister Anthony Albanese and Opposition leader Peter Dutton that the two major political parties should preference each other ahead of the Greens, citing the minor party’s "shameful and cynical behaviour" in the 12 months since the October 7 terrorist attack on Israel. They also urged Albanese and Dutton to rule out any deal with the Greens to form a minority government.

CORPORATES
EXECUTIVE COUNCIL OF AUSTRALIAN JEWRY, ZIONIST FEDERATION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Green issues curb Hancock project target

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Original article by Peter Ker
The Australian Financial Review – Page: 14 : 9-Oct-24

Documents filed with the Western Australian government show that Gina Rinehart has significantly scaled back the size of her proposed Mulga Downs iron ore project. The Mulga Downs mine was initially slated to produce 20 million tonnes of iron ore each year, but this has been reduced to 12 million tonnes. The amount of vegetation to be cleared at site has also been reduced from 8,422 hectares to just 4,339 hectares. Rinehart’s Hancock Prospecting has a 95 per cent stake in the subsidiary that is developing Mulga Downs.

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HANCOCK PROSPECTING PTY LTD

Rio Tinto’s Argentina dream gets investor OK

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Original article by Peter Ker, Elouise Fowler
The Australian Financial Review – Page: 17 : 9-Oct-24

Shares in Arcadium Lithium have rallied in the wake of Rio Tinto’s takeover approach, and the company’s market capitalisation has risen to $6.5bn. However, some analysts regard the timing of the bid to be opportunistic, given that Arcadium’s market cap was $10.6bn in May, prior to a sharp fall in the lithium price. Arcadium has two lithium projects in Argentina, and investors are generally supportive of Rio Tinto’s bid, noting that the pro-business stance of the South American country’s new government will help to offset any sovereign risk.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ARCADIUM LITHIUM PLC – ASX LTM

Bitterness set in motion: House fails on bipartisanship

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Original article by Ben Packham, Rosie Lewis, Rhiannon Down
The Australian – Page: 1 & 5 : 9-Oct-24

A condolence motion for victims of the October 7 terrorist attacks in Israel was passed by the lower house on Tuesday, with the support of crossbenchers; the Greens abstained from voting. The Coalition also voted against the motion, because Opposition leader Peter Dutton had wanted it to focus solely on October 7. Dutton and Prime Minister Anthony Albanese had agreed to a joint motion, but the latter wanted it to include clauses in support of a two-state solution and an end to the Middle East’s "cycle of violence". Albanese ultimately put his version of the motion to parliament, and Dutton accused him of rejecting the Coalition’s "more than reasonable position" for his own "domestic political advancement".

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