Author: roymorgansocial

Is the low-wage tide about to turn? Signals look good, Treasury says

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Original article by Jacob Greber
The Australian Financial Review – Page: 10 : 26-Oct-17

Treasury secretary John Fraser has told a Senate estimates hearing that there are indications that wages growth is gaining pace in some sectors of the economy and some geographical areas. Fraser noted that many workers have been reluctant to press for pay rises in the wake of the global financial crisis, which he adds has resulted in the longest business cycle he has experienced.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

Senate inquiry to look at job hit from robotics

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 26-Oct-17

Labor’s Murray Watt will chair a Senate inquiry that will examine the impact of technologies such as automation and robotics on the Australian labour market, society and the broader economy. Ed Husic, the shadow minister for the future of work and the digital economy, has estimated that these technologies will affect the jobs of some 3.5 million Australians. He has warned that the Coalition is not doing enough to prepare the nation for the impact of technology-driven change.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES. DEPT OF EDUCATION AND COMMUNITIES, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. PRODUCTIVITY COMMISSION

NZ overseas buyers ban ‘to push funds our way’

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Original article by Turi Condon, Rosanne Barrett
The Australian – Page: 2 : 26-Oct-17

Ray White Group chairman Brian White says more overseas buyers could seek to purchase residential properties in Australia due to the incoming New Zealand Government’s decision to restrict foreign ownership to new housing developments. However, White adds that the Chinese Government’s crackdown on outbound investment is likely to have a greater impact on Chinese demand for Australian housing.

CORPORATES
RAY WHITE GROUP, LABOUR PARTY (NEW ZEALAND), AMP CAPITAL INVESTORS LIMITED, REAL ESTATE INSTITUTE OF NEW ZEALAND, CORELOGIC INCORPORATED

Unions might take to Streets – and find a dead end

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Original article by Niki Savva
The Australian – Page: 14 : 26-Oct-17

Production of Streets ice creams in Australia may be at risk if Unilever fails in its bid to have an enterprise agreement terminated. It has told the Fair Work Commission that the Streets factory in the Sydney suburb of Minto has significantly higher operating costs than most of its plants worldwide. Minto employees are also paid 25 per cent more than the average wage in Australia. ACTU secretary Sally McManus has proposed a boycott of Streets products, but Unilever Australia CEO Clive Stiff has warned that it could prompt Unilever to cease local manufacturing. He adds that Peters would almost certainly do so as well.

CORPORATES
UNILEVER AUSTRALIA LIMITED, UNILEVER PLC, ACTU, AUSTRALIAN MANUFACTURING WORKERS’ UNION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, GM HOLDEN LIMITED, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

RBA held up by flagging inflation

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 2 : 26-Oct-17

Official data shows that growth in Australia’s headline consumer prices was below expectations at just 0.6 per cent in the September quarter, for an annual inflation rate of 1.8 per cent. Growth in the core inflation rate slowed to 0.3-0.4 per cent, compared with 0.5 per cent in the June quarter. The data has dampened expectations that the Reserve Bank will increase the cash rate in the near-term, with financial markets now pricing in a 36 per cent chance of a rate rise by May.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, COLES SUPERMARKETS AUSTRALIA PTY LTD, WESFARMERS LIMITED – ASX WES, GOLDMAN SACHS AUSTRALIA PTY LTD, NOMURA AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY

BHP to take hard look at asset sales

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Original article by Matt Chambers
The Australian – Page: 21 : 26-Oct-17

BHP Billiton may consider further asset sales under CEO Andrew Mackenzie and chairman Ken MacKenzie. BHP has previously flagged plans to divest its US shale assets, and other assets that could potentially be sold include its one-sixth stake in the North West Shelf LNG project, thermal coal mines, nickel mines in Western Australia and its potash project in Canada. The North West Shelf project was the biggest contributor to the earnings of BHP’s petroleum division in 2016.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, WOODSIDE PETROLEUM LIMITED – ASX WPL, RIO TINTO LIMITED – ASX RIO, YANCOAL AUSTRALIA LIMITED – ASX YAL, ELLIOTT MANAGEMENT CORPORATION

Seven tries to gag reporter’s critical tweet

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Original article by Dana McCauley
The Australian – Page: 11 : 26-Oct-17

The Seven Network has declined to comment on claims that it has asked ex-employee Amy Taeuber to delete a tweet which directs Twitter users to an article she wrote for the MamaMia website. Lawyers have written to Taeuber on Seven’s behalf requesting the tweet’s removal. The article had been highly critical of Seven, and blamed unnamed female employees of the network for her dismissal after she made a sexual harassment complaint.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, MAMAMIA.COM.AU PTY LTD, AUSTRALIAN BROADCASTING CORPORATION

Economist eyes growth potential

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 26-Oct-17

The global circulation of "The Economist" is about 1.5 million, including just 20,000 in Australia. However, chief marketing officer Michael Brunt is upbeat about the venerable magazine’s prospects in the Australian market, suggesting that it has a potential readership of about one million, based on the characteristics of the magazine’s typical reader. "The Economist" is using an experiential marketing campaign to boost local subscription numbers.

CORPORATES
THE ECONOMIST GROUP

AWU refusal ‘triggered raids’

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Original article by Brad Norington, Ewin Hannan
The Australian – Page: 1 & 4 : 26-Oct-17

A senior adviser to Employment Minister Michaelia Cash has resigned after admitting that he leaked details of a police raid on Australian Workers’ Union offices to the media. The Opposition has called for Cash to resign after she had told a Senate estimates committee that her office was not responsible for the leak. Meanwhile, Registered Organisations Commissioner Mark Bielecki has told the committee that the police raids were prompted by concerns that AWU document could be destroyed. He also said an ROC investigation into the AWU may not have been needed if the union had complied with a request to provide the documents in August.

CORPORATES
AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, FEDERAL COURT OF AUSTRALIA, GETUP LIMITED, AUSTRALIAN ELECTORAL COMMISSION

Codes baulk at national sports court

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Original article by Chip Le Grand
The Australian – Page: 3 : 25-Oct-17

The Coalition of Major Professional & Participation Sports has rejected the Federal Government’s proposal to establish a national sports integrity tribunal. The CMPPS has argued that key sports codes are likely to favour resolving cases of corruption, doping and match-fixing via their own tribunals. Sports codes’ involvement in the national sports court would be on an "opt-in" basis rather than being compulsory. A review panel is also looking at issues such as imposing criminal penalties for match-fixing and increasing the powers of the National Sport Integrity Unit.

CORPORATES
COALITION OF MAJOR PROFESSIONAL AND PARTICIPATION SPORTS, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN RUGBY FOOTBALL UNION, FOOTBALL FEDERATION AUSTRALIA LIMITED, CRICKET AUSTRALIA, NETBALL AUSTRALIA, ESSENDON FOOTBALL CLUB, COURT OF ARBITRATION FOR SPORT, AUSTRALIAN SPORTS COMMISSION, AUSTRALIAN SPORTS ANTI-DOPING AGENCY, AUSTRALIAN ATHLETES ASSOCIATION, WORLD ANTI-DOPING AGENCY, RACING NSW