Author: roymorgansocial

ASIC defends silence as US class-action lawyers circle Rio

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Original article by Peter Ker, Jonathan Shapiro
The Australian Financial Review – Page: 15 : 20-Oct-17

Greens senator Peter Whish-Wilson has criticised the Australian Securities & Investments Commission over its tardiness in responding to allegations against Rio Tinto and its former executives. This follows a move by the US Securities & Investments Commission to file fraud charges over the valuation of Rio Tinto’s former coal assets in Mozambique. US lawyers are preparing a class action against Rio Tinto, although they say disgruntled investors should be mindful of the statute of limitations and act quickly. Some Australian law firms are also considering a class action.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN GREENS, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION, HAGENS BERMAN SOBOL SHAPIRO LLP, BANNISTER LAW, MAURICE BLACKBURN PTY LTD, UBS HOLDINGS PTY LTD, BHP BILLITON LIMITED – ASX BHP

IGA Liquor tops latest satisfaction ratings

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Oct-17

A Roy Morgan Single Source survey has found that customer satisfaction with IGA Liquor rose by 17.3% to 93.4% in the year to August 2017, which now places it ahead of its major competitors. This is a major turnaround from a year ago, when IGA was ranked ninth and well behind the market leaders. IGA is followed by Dan Murphy’s (92.4%), Aldi Liquor (91.0%) and First Choice Liquor (90.1%). Roy Morgan has developed a segmentation based on a person’s level of non-essential or discretionary expenditure, which includes purchases such as wine, travel and entertainment. The top third of discretionary spenders are "Big Discretionary Spenders" and so represent the largest potential for increased liquor sales. The liquor stores and retailers with the highest proportion of "Big Discretionary Spenders" in their customer base are First Choice Liquor (44.1% of usual customers are "Big Discretionary Spenders"), Dan Murphy’s (43.1%), IGA Liquor (41.8%) and Liquorland (40.6%). This group has the greatest potential to increase sales from their existing customer base.

CORPORATES
ROY MORGAN RESEARCH LIMITED, IGA LIQUOR, DAN MURPHY’S, ALDI LIQUOR, FIRST CHOICE LIQUOR SUPERSTORE, LIQUORLAND (AUSTRALIA) PTY LTD

Income tax rises to save budget

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Original article by David Uren
The Australian – Page: 4 : 20-Oct-17

The Parliamentary Budget Office estimates that personal income tax will account for 12.5 per cent of Australia’s GDP by 2020-21. This compares with 11.3 per cent of GDP at present and a record low of 9.3 per cent in 2009-10. The Federal Government’s May 2017 Budget had forecast that revenue from personal income tax will top $A253bn in 2021, which is 30 per cent higher than in 2016-17. Factors such as "bracket creep" and an increase in the Medicare levy to finance the National Disability Insurance Scheme are expected to offset low growth in wages.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE TREASURY

‘Foundations are strong’, says new BHP chairman

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Original article by Darren Gray
The Sydney Morning Herald – Page: Online : 20-Oct-17

Former Amcor CEO Ken MacKenzie addressed BHP Billiton’s AGM in London for the first time in his new role of chairman. He told shareholders that there are some areas in which BHP can increase its focus and improve its operations, but overall the company is very strong. MacKenzie also said BHP is actively seeking to improve its capital allocation processes, noting that this has been somewhat lacking over the last decade.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, AMCOR LIMITED – ASX AMC

Peak penalty for ‘nefarious’ building union

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Original article by Ewin Hannan
The Australian – Page: 6 : 20-Oct-17

The Construction, Forestry, Mining & Energy Union has fined a total of $A306,000 over a confrontation between former Queensland CFMEU president David Hanna and site managers at a Brisbane construction project in 2015. This is the maximum penalty at present, but Federal Circuit Court judge Salvatore Vasta said the fine would have been much greater if industrial relations laws allowed it. He noted that the CFMEU habitually breaches industrial laws and existing penalties are not acting as a deterrent.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL CIRCUIT COURT OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, MIRVAC GROUP – ASX MGR

Rate rise firming after stronger jobs growth

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Original article by David Rogers
The Australian – Page: 17 & 28 : 20-Oct-17

A rise in official interest rates may be on the agenda in 2018 after Australia’s unemployment rate fell from 5.6 per cent to 5.5 per cent in September 2017, with a higher-than-expected 19,800 jobs being created during the month. The economy has added 317,000 jobs in the last year, which is the highest annual rate of growth since August 2005. The Reserve Bank of Australia is widely tipped to leave interest rates on hold until at least 2018.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED – ASX API

Labor vows crackdown on sham collective wage deals

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Original article by Anna Patty
The Age – Page: 20 : 20-Oct-17

Shadow employment minister Brendan O’Connor says the Australian Labor Party will take action to prohibit the use of "no-stake" enterprise agreements if it wins the next federal election. Labor will target companies that get a small number of employees to vote in favour of an enterprise agreement and then apply it to their general workforce, including those at other work sites. Mr O’Connor says Labor will also pursue reforms to allow employees and unions to renegotiate sham enteprise agreements via the Fair Work Commission.

CORPORATES
AUSTRALIAN LABOR ADVISORY COUNCIL, AUSTRALIA. FAIR WORK COMMISSION, ACTU, CARLTON AND UNITED BREWERIES

End of the road for Holden

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Original article by Simon Evans
The Australian Financial Review – Page: 10 : 20-Oct-17

Data from the Federal Chamber of Automotive Industries shows that Holden’s market share fell to just 6.9 per cent in September, compared with nearly 20 per cent in the early 1990s. Holden will offer a seven-year warranty on new cars until the end of 2017 in a bid to reassure consumers that the iconic brand will continue after local manufacturing ceases on 20 October. Meanwhile, it is estimated that car-makers have received about $A35bn in government assistance since 1997 to support local manufacturing.

CORPORATES
FEDERAL CHAMBER OF AUTOMOTIVE INDUSTRIES, GM HOLDEN LIMITED, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, FORD MOTOR COMPANY AUSTRALIA LIMITED, MITSUBISHI MOTORS AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN AUTOMOBILE DEALERS ASSOCIATION PTY LTD, CONMA INDUSTRIES, OCVITTI

Inflation Expectations fall to 4.4% in September

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Oct-17

Australians aged +14 expect inflation of 4.4% per year over the next two years, according to the Roy Morgan Inflation Expectations Index for September 2017. This is down 0.1% in a month, although it is up 0.3% from September 2016. However, it remains well below the seven-year average of 5.0%. Analysis by State shows that Inflation Expectations are highest in Tasmania at 5.4%, followed by Victoria (4.7%) and New South Wales and Queensland (4.3%). Analysing Inflation Expectations by Federal voting intention shows that L-NP supporters (3.9%) and Greens supporters (4.1%) have the lowest Inflation Expectations, while ALP supporters (4.4%) are in line with the national average.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Labor links expose GetUp! as a ‘front’

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Original article by Brad Norington
The Australian – Page: 3 : 19-Oct-17

Activist organisation GetUp may face further scrutiny over its links to the Australian Labor Party. The two latest additions to GetUp’s board have links to Labor, and include the party’s former digital director Daniel Stone. Liberal MP Ben Morton argues that GetUp is essentially a "front" for Labor and the Greens, rather than an independent organisation. The Coalition wants the Australian Electoral Commission to recognise GetUp as an "associated political entity". It previously failed to do so in 2011.

CORPORATES
GETUP LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN ELECTORAL COMMISSION, LIBERAL PARTY OF AUSTRALIA