Author: roymorgansocial

Bosses demand clause ban on CFMEU

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Original article by Ewin Hannan
The Australian – Page: 6 : 8-Oct-24

The CEOs of four construction-related employers’ groups have joined forces to urge the federal government to remove certain clauses from enterprise agreements. The clauses in question includes ones that give the CFMEU a right of veto over the use of subcontractors and require subcontractors to be paid the same as those engaged by the head contractor. Amongst other things, the letter to Workplace Relations Minister Murray Watt calls on the government to ban the Fair Work Commission from approving any enterprise agreements that include the clauses.

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CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS

100,000 migrant overshoot

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Original article by Jack Quail
The Australian – Page: 6 : 8-Oct-24

The federal government’s budget papers in May had forecast that the net migrant intake would be just 395,000 in 2023-24, compared with 518,000 in 2022-23. However, former bureaucrat Abul Rizvi expects the final figure for 2023-24 to be around 450,000; he adds that it could potentially be as high as 475,000. Saul Eslake from Corinna Economic Advisory has emphasised the need to focus on quality rather than just quantity with regard to the migration intake. Meanwhile, Rizvi says the government’s net migrant target of just 260,000 for 2024-25 is also likely to be exceeded unless there is a significant downturn in the labour market.

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CORINNA ECONOMIC ADVISORY PTY LTD

Roy Morgan Poll: Federal voting intention tied in early October: Coalition 50% cf. ALP 50%

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Oct-24

If a Federal Election were held now the result would be ‘too close to call’ with the ALP 50% (up 1%) tied with the Coalition 50% (down 1%) on a two-party preferred basis, the latest Roy Morgan survey finds. Neither major party has held a decisive election-winning lead above 52% two-party preferred since the first week of June. ALP primary vote support increased 1.5% points to 31.5% while Coalition dropped 0.5% points to 37.5%. Support for the Greens was down 1% to 12.5% while One Nation increased 1% to 5.5%. Support for Other Parties dropped 0.5% to 4% and support for Independents was down 0.5% to 9%.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Nobel prize in medicine awarded to scientists for work on microRNA

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Original article by Nicola Davis
The Guardian – Page: Online : 8-Oct-24

The Nobel assembly has announced that the 2024 Nobel prize in medicine has been awarded to Victor Ambros of the University of Massachusetts medical school, and Gary Ruvkun of the Harvard medical school and Massachusetts general hospital. Ambros and Ruvkun won the award for the discovery of microRNA and its role in post-transcriptional gene regulation, with Olle Kampe, vice-chair of the Nobel committee for physiology or medicine, commenting that "microRNAs are important for our understanding of embryological development, normal cell physiology, and diseases such as cancer".

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NOBEL FOUNDATION, UNIVERSITY OF MASSACHUSETTS, HARVARD MEDICAL SCHOOL, MASSACHUSETTS GENERAL HOSPITAL

Qatar Airways to match Qantas for repatriation flights

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Original article by Robyn Ironside
The Australian – Page: 4 : 8-Oct-24

Qatar Airway has agreed to a request from the federal government to operate two repatriation flights to bring home Australians who are stranded in Lebanon. The proposed flights would go from Cyprus to Sydney via Doha, with Qatar Airways CEO Badr Mohammed Al Meer saying it is committed to providing support to Australian passengers and ensuring their safe return home. Qantas is also operating two repatriation flights from Cyprus at the request of the federal government, with the request from the federal government for Qatar Airways for assistance coming as it assesses a possible investment in Virgin Australia by Qatar Airways.

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QATAR AIRWAYS, QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED

Jeers for Albanese and cheers for Dutton as leaders join Jewish communities to mark 7 October atrocities

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Original article by Benita Kolovos, Daisy Dumas
The Guardian Australia – Page: Online : 8-Oct-24

Prime Minister Anthony Albanese attended a vigil in Melbourne on Monday to mark the one year anniversary of the 7 October Hamas attack on Israel. Walking alongside rabbi Gabi Kaltmann, Albanese was met with some jeers, while he did not speak at the event. Opposition leader Peter Dutton spoke at a Sydney commemoration organised by the Zionist Council of NSW and the NSW Jewish Board of Deputies, with Dutton receiving a loud cheer when he walked on to the stage. He claimed there had been a "vacuum of leadership" and "moral fog" in Australia since the 7 October attack, while he said he wanted to make it very clear that he believed that Israel has every right to defend its territory

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ZIONIST COUNCIL OF AUSTRALIA, NEW SOUTH WALES JEWISH BOARD OF DEPUTIES INCORPORATED

A numbers game: how NRL can claim it’s the most watched sport

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 3 : 8-Oct-24

Data from OzTAM shows that the NRL Grand Final on Sunday attracted a national television audience of 3.4 million. The AFL Grand Final a week earlier was watched by 4.06 million people. However, the NRL’s premiership showdown was viewed by 762,000 people via the Nine Network’s free 9Now streaming platform, compared with a streaming audience of 654,000 for the AFL season decider via the rival 7plus app. NRL CEO Andrew Abdo contends that rugby league has a larger TV audience than any other sports code in Australia. The NRL will soon begin to negotiate a new broadcasting rights deal beyond 2027.

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NATIONAL RUGBY LEAGUE, AUSTRALIAN FOOTBALL LEAGUE, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, 9NOW, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, 7PLUS, OZTAM PTY LTD

Fortescue eyes $50m carbon free kick

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 8-Oct-24

The federal government has indicated that companies will be able to start trading its Safety Mechanism Credits from early 2025. The new carbon credit scheme will reward companies with one SMC for every extra tonne of carbon they cease emitting beyond their designated target. Given that Fortescue has a goal of achieving ‘real zero’ emissions across its iron ore mines by the end of this decade, it could be in line to earn about 1.4 million SMCs in 2030. Analysts suggest that Fortescue could gain additional revenue of between $50m and $150m by selling these credits to other emitters. However, chairman Andrew Forrest has been a vocal critic of carbon offsets in the past.

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FORTESCUE LIMITED – ASX FMG

Director says film industry is in peril

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Original article by Geordie Gray
The Australian – Page: 7 : 8-Oct-24

Noted film director Phillip Noyce has expressed concern about the state of the Australian film industry, saying that many young directors have to leave Australia in order to earn a reasonable living. His comments are part of a push by the Australian Screen Directors Authorship Collecting Society for reforms that would give directors greater control over their works to the extent that they would get access to secondary revenue streams such as royalties from online platforms; currently, Australian film directors only get royalties from broadcast television.

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AUSTRALIAN SCREEN DIRECTORS AUTHORSHIP COLLECTING SOCIETY

Arcadium move could cost Rio $9b: investors

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Original article by Peter Ker, Joanne Tran
The Australian Financial Review – Page: 1 & 19 : 8-Oct-24

Wilson Asset Management’s Matt Haupt is "broadly supportive" of Rio Tinto’s takeover bid for Arcadium Lithium. He argues that the target is worth more as part of a larger company than a stand-alone business. Rio Tinto confirmed the takeover approach on Monday, and emphasised that there is no certainty that the talks will result in a deal. Arcadium’s market capitalisation was about $US3.3bn ($4.85bn) on Friday. However, Rob Stein from Morningstar estimates that Arcadium is valued at around $US8.5bn, based on the sum ‘of its parts’; he adds that Rio Tinto may need to offer a control premium to reflect the synergies arising from combining the companies’ lithium projects in Argentina.

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RIO TINTO LIMITED – ASX RIO, ARCADIUM LITHIUM PLC – ASX LTM, WILSON ASSET MANAGEMENT, MORNINGSTAR PTY LTD