Author: roymorgansocial

Labor vetoes ASIC chair

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 10 : 13-Oct-17

Credit Suisse Australia chairman John O’Sullivan will not seek to become chairman of the Australian Securities & Investments Commission. He had been regarded as a leading contender to succeed Greg Medcraft, but he has cited "personal attacks" and insinuations by the Australian Labor Party for his decision to withdraw his candidacy. Labor had alleged that his appointment at ASIC would not be appropriate given his links to the Liberal Party and the so-called "Ute-gate" scandal in 2009. The Government in turn has argued that Medcraft was a former Labor party member and had been appointed by a Labor government without going through a formal selection process.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, OZCAR

New Zealanders say North Korea will use a nuclear weapon

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 13-Oct-17

A special Roy Morgan SMS Survey shows that 58% of New Zealanders think it is either "Very likely" (19%) or "Fairly likely" (39%) that North Korea will use a nuclear weapon. Meanwhile, 42% say North Korea is "Fairly unlikely" (31%) or "Very unlikely" (11%) to do so. The poll, which was taken after the New Zealand election in September, also shows that 78% of New Zealanders want the opposing sides in the North Korean stand-off to reach a peaceful diplomatic solution. Roy Morgan Research executive chairman Gary Morgan says 60% of National Party supporters and 59% of Labour supporters say it is likely North Korea will use a nuclear weapon, while 75% of National supporters and 80% of Labour supporters want a peaceful diplomatic solution to the stand-off rather than a military solution.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL PARTY OF NEW ZEALAND, LABOUR PARTY (NEW ZEALAND)

ANZ-Roy Morgan New Zealand Consumer Confidence dips slightly to 126.3 (down 3.6pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Oct-17

The ANZ-Roy Morgan New Zealand Consumer Confidence Index eased four points from 129.9 to 126.3 in October, a historically high level. Adjusted for seasonality, the index also fell by four points to 129.1. This is still the third highest level in the past three years. The Current Conditions Index dipped 3.3 points to 124.0, while the Future Conditions Index eased 3.8 points to 127.8. Meanwhile, a net 15% of consumers feel financially better off than a year ago, while net optimism towards the economy one year out fell back from +30 to +25, and for the five-year outlook, from +29 to +25.

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

PM weighs expanding Direct Action

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 13-Oct-17

Australia is meant to achieve certain carbon emission reduction targets by 2030, but there are concerns that these targets will not be met without an appropriate mechanism in place. The Federal Government appears to have abandoned the Finkel Review’s proposed Clean Energy Target, while the Renewable Energy Target will end in 2020. There are suggestions that the government’s Direct Action scheme could be used as an alternative to the RET, although Australian Energy Council CEO Matthew Warren contends that it would have to be reconfigured in order to be viable.

CORPORATES
AUSTRALIAN ENERGY COUNCIL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, GRATTAN INSTITUTE

ASX stalls as world hits top gear

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Original article by David Rogers
The Australian – Page: 19 & 30 : 13-Oct-17

Australia’s S&P/ASX 200 Index has risen by 2.3 per cent so far in 2017, including a 2.5 per cent gain in the last five trading sessions. However, it is still 15 per cent below its peak, and its performance significantly lags that of its international peers. AMP Capital’s Nader Naeimi says overseas markets offer better opportunities for investors at present, while James Pomeroy of HSBC forecasts that emerging markets will become a major driver of global economic growth.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, AMP CAPITAL INVESTORS LIMITED, HSBC BANK PLC, NIKKEI 225 INDEX, STOXX EUROPE 600 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, NASDAQ COMPOSITE INDEX, EURO STOXX 50 INDEX, MSCI EMERGING MARKETS INDEX, TELSTRA CORPORATION LIMITED – ASX TLS

Investors back Accor deal, says Mantra chief

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 34 : 13-Oct-17

Mantra Group shareholders are expected to vote in March 2018 on its proposed merger with Accor by means of a scheme of arrangement. Mantra Group head Bob East says its shareholders are very supportive of the $A1.3 billion merger, which will create an entity with over 300 hotels and around 15 per cent share of the Australian hotels market. The deal will also have to be approved by the Australian Competition & Consumer Commission and the Foreign Investment Review Board.

CORPORATES
MANTRA GROUP LIMITED – ASX MTR, ACCOR SA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, PEPPERS HOTEL GROUP, BREAKFREE LIMITED, CHOICE HOTELS AUSTRALIA, MFS LIMITED, HIGHBURY PARTNERSHIP PTY LTD, AUSTRALIANSUPER PTY LTD, BT FINANCIAL GROUP PTY LTD, CENTRAL BANK OF NORWAY

Westpac ‘rips off clients’ with life insurance

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Original article by Anthony Klan
The Australian – Page: 1 & 6 : 13-Oct-17

Shine Lawyers is leading a class action against Westpac and its BankSA, St George and Bank of Melbourne subsidiaries. The legal action alleges that Westpac charges more for life insurance policies when taken out through a Westpac financial planner than through a non-Westpac planner. Janice Shaddler of Shine says the Westpac customers it is representing are feeling "incredibly let down" for having trusted their Westpac adviser to do the right thing by them. A spokesman for Westpac says it will investigate the allegations.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, BANK OF SOUTH AUSTRALIA LIMITED, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, SHINE LAWYERS, SHINE CORPORATE LIMITED – ASX SHJ, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Kmart leads discount department store satisfaction

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 13-Oct-17

A Roy Morgan Single Source survey has found that Kmart had a customer satisfaction rating of 87.6% in August 2017, which places it ahead of its major Australian discount department store competitors. Kmart is followed by Costco (87.1%), Target (86.5%), Harris Scarfe (85.9%), Big W (85.3%), Best&Less (84.7%) and Target Country (81.2%). Kmart was ranked fifth a year ago, behind Target, Best&Less, Harris Scarfe and Costco. Kmart has improved its customer satisfaction rating by 1.0% points over the last 12 months, while its major competitors all showed declines, except for Big W which remained unchanged. The biggest declines were for Best&Less (down 2.8% points), Target and Target Country (both down 2.2% points).

CORPORATES
ROY MORGAN RESEARCH LIMITED, KMART AUSTRALIA LIMITED, COSTCO WHOLESALE AUSTRALIA PTY LTD, TARGET AUSTRALIA PTY LTD, HARRIS SCARFE HOLDINGS LIMITED, BIG W DISCOUNT STORES, BEST AND LESS PTY LTD, TARGET COUNTRY

Broker rejects ASIC interest only claims

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Original article by James Frost
The Australian Financial Review – Page: 20 : 13-Oct-17

The Australian Securities & Investments Commission has suggested that borrowers who use mortgage brokers are more likely to take out interest-only loans. This has drawn a strong rebuke from Mortgage Choice, which noted that the percentage of interest-only loans it had written in September was only 16.4 per cent, down from 35.95 per cent in May. The Australian Prudential Regulation Authority has mandated that no more than 30 per cent of new loans shall be interest-only loans from September.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, MORTGAGE CHOICE LIMITED – ASX MOC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

$2m legal bill to save pollies’ jobs

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Original article by Greg Brown
The Australian – Page: 1 & 4 : 12-Oct-17

The cost of the High Court case to determine the eligibility of politicians with dual citizenship to be in parliament is under scrutiny. Some MPs estimate that the total cost to taxpayers will be between $A2m and $A3m, although Peter Faris QC suggests that the final cost may be much higher. The Federal Government will pay all legal costs associated with the case, with the court hearing evidence from 24 barristers. Liberal Democrat senator David Leyonhjelm has questioned the need for the MPs and senators to have separate legal representation.

CORPORATES
HIGH COURT OF AUSTRALIA. LIBERAL DEMOCRATIC PARTY. AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET. AUSTRALIAN GREENS. AUSTRALIA. ATTORNEY-GENERAL’S DEPT. ONE NATION PARTY. NICK XENOPHON TEAM