Author: roymorgansocial

Next battle: same-sex campaign rules

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Original article by David Crowe
The Australian – Page: 1 & 5 : 8-Sep-17

The Federal Government will shortly begin distributing ballot papers for the postal plebiscite on same-sex marriage after the High Court ruled that it can proceed. Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten have urged all Australian electors to participate in the voluntary survey. The Government is drafting the rules for the eight-week public campaign on the issue of marriage equality, while there is growing concern about the potential impact of legalisation of same-sex marriages on religious freedom.

CORPORATES
HIGH COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATIVES, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN GREENS

Solving the fickle nickel mystery

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Original article by Paul Garvey
The Australian – Page: 20 : 8-Sep-17

Comet Minerals, which is headed by mining industry veteran Hugh Morgan, revealed the company’s Titan nickel discovery in Nigeria at the 2016 Africa Down Under conference. Morgan says Comet has found an accurate method of assaying the content of the deposit’s unique nickel balls. This should enable Comet to determine an initial resource base for the deposit, given that the nickel balls vary significantly in size and density. Morgan says Comet will consider a range of options for funding the development of Titan.

CORPORATES
COMET MINERALS, AFRICA DOWNUNDER CONFERENCE, WESTERN MINING CORPORATION

Soaring electricity prices an obstacle to wage rises

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Original article by Jacob Greber, David Marin-Guzman
The Australian Financial Review – Page: 7 : 8-Sep-17

Employers’ groups have warned that the rising cost of electricity is affecting their capacity to grant pay rises. Australian Industry Group CEO Innes Willox notes that companies’ margins are being hurt by rising power costs, while consumers in turn are reducing their overall spending due to the impact of power price hikes. Australian Chamber of Commerce & Industry CEO James Pearson adds that many companies are delaying investment decision due to rising power costs, and some are considering relocating offshore.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, BUSINESS COUNCIL OF AUSTRALIA, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD

Santos to divert gas

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 & 28 : 8-Sep-17

Santos has pre-empted the Federal Government’s decision on triggering the Australian Domestic Gas Security Mechanism by agreeing to redirect 30 petajoules of gas from the Gladstone LNG export project to the domestic market in 2018 and 2019. The LNG buyer that has agreed to accept reduced exports is believed to be either Petronas or Korea Gas Company, which are partners in the GLNG project. Santos also recently struck a deal to supply gas to the Pelican Point power station in South Australia. Wood Mackenzie estimates that the latest deal will ensure that the gas shortfall on the east coast will be minimal in 2018.

CORPORATES
SANTOS LIMITED – ASX STO, GLADSTONE LNG PTY LTD, PETRONAS GAS BHD, KOREA GAS CORPORATION, WOOD MACKENZIE, TOTAL SA, SHELL COMPANY OF AUSTRALIA LIMITED, QUEENSLAND CURTIS LNG PTY LTD, ENGIE SA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

WA Budget 2017: 50 gold producers hit with royalties double whammy

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Original article by Neale Prior
Herald Sun – Page: Online : 8-Sep-17

The Western Australian Government’s 2017 Budget includes an increase in the gold royalty rate from 2.5 per cent to 3.75 per cent when the spot gold price trades above $A1,200 ($US959) an ounce. In addition, gold miners whose annual output exceeds the 2,500oz threshold for a royalty exemption will no longer be entitled to it. The Association of Mining & Exploration Companies has described the measures as a "tax grab" that will result in job cuts in the sector. Large mining companies also face an 0.5 per cent increase in the payroll tax rate, although this will be temporary.

CORPORATES
ASSOCIATION OF MINING AND EXPLORATION COMPANIES, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED

Canada has hiked again – will the RBA follow?

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Original article by Patrick Commins
The Australian Financial Review – Page: 28 : 8-Sep-17

Vimal Gor of BT Investment Management says the Bank of Canada’s decision to increase official interest rates for the second time in 2017 has no implications for the Reserve Bank of Australia. However, Annette Beacher of TD Securities says both central banks have expressed similar views on their nations’ respective economies in recent monetary policy statements. Canada and Australia both have low inflation, low growth in wages, high household debt and high exchange rates, but a key difference is Canada’s much stronger growth in real GDP.

CORPORATES
BANK OF CANADA, RESERVE BANK OF AUSTRALIA, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, TD SECURITIES, ALTIUS ASSET MANAGEMENT PTY LTD, BLOOMBERG LP

TV networks seek clarity over postal survey ads

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Original article by Joe Kelly
The Australian – Page: 5 : 8-Sep-17

Free TV Australia wants the Australian Communications & Media Authority to provide advertisers with clarification regarding the rules on broadcasting ads with political content during the postal plebiscite on same-sex marriage. This follows a recent controversy over the lobby group’s move to ban a Father’s Day ad because its lack of a "political authorisation" tag was a breach of broadcasting rules.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, DADS4KIDS

Gordon takes round one in Ten legal bout

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Original article by Darren Davidson
The Australian – Page: 17 & 20 : 8-Sep-17

The Supreme Court of New South Wales has granted an application by WIN Corporation owner Bruce Gordon to have the second meeting of Ten Network creditors delayed by a week. This will allow the court to hear claims by Gordon, Lachlan Murdoch and 21st Century Fox that a creditors’ report by administrator KordaMentha lacked sufficient detail. This hearing is scheduled for 12 September, while the second meeting of creditors is now slated for 19 September. In other developments, the Australian Share­holders’ Association has ruled out participating in a class action regarding Ten’s collapse.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, 21ST CENTURY FOX INCORPORATED, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, CBS CORPORATION, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, BAKER AND McKENZIE, ATANASKOVIC HARTNELL CORPORATE SERVICES PTY LTD, ALLEN AND OVERY, DENTONS, CORRS CHAMBERS WESTGARTH, KPMG AUSTRALIA PTY LTD

Media reform in days: Xenophon

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 8-Sep-17

The Federal Government is continuing to negotiate with the Nick Xenophon Team in a bid to secure support for cross-media ownership reforms. The talks are centred on financial assistance for smaller media companies, with the NXT open to scaling back its proposed tax breaks for such companies. The Government in turn is believed to have proposed offering grants or tax offsets to smaller publishers. It is also negotiating with the Greens, whose proposals include a content fund for local TV production.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), ONE NATION PARTY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BUZZFEED PTY LTD

Australia’s real unemployment is up to 10.2% in August

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Sep-17

A Roy Morgan survey shows that 1.324 million Australians were unemployed (10.2% of the workforce) in August 2017. This is similar to a year ago (down 8,000, or 0.2%). However, more Australians are now under-employed than this time last year; 1.241 million (9.5%) Australians are looking for work or looking for more work), up a significant 324,000 (2.4%) in a year. In total, 2.565 million (19.7%) Australians were unemployed or under-employed in August – the 23rd straight month more than 2 million Australians were looking for work or looking for more work. The figures also show that 11,685,000 Australians were employed in August – an increase of 162,000 over the past year (an average of 13,500 jobs added per month). The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate for July (5.6%). Roy Morgan Research executive chairman Gary Morgan says the large increase in part-time jobs over the last year (up 535,000 or about 45,000 per month) obscures the loss of full-time jobs (down 373,000, just over 30,000 per month).

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS