Author: roymorgansocial

BHP to deliver six-fold jump in earnings

roymorgansocial Leave a comment

Original article by James Thomson
The Australian Financial Review – Page: 13 & 18 : 21-Aug-17

The general consensus of analysts is for BHP Billiton’s underlying earnings for 2016-17 to be within the range of $US7bn to $US7.3bn, compared with $US1.2bn in 2015-16. Most analysts expect BHP’s final dividend to be around $US0.43 per share, although Credit Suisse expects a payout of $US0.36. BHP’s final dividend in 2015-16 was just $US0.14 per share. Meanwhile, investors will be hoping for some guidance on BHP’s plans for its US shale assets and the Jansen potash project.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, CREDIT SUISSE (AUSTRALIA) LIMITED, SHAW AND PARTNERS LIMITED, ELLIOTT MANAGEMENT CORPORATION, DEUTSCHE BANK AG, MACQUARIE GROUP LIMITED – ASX MQG, RIO TINTO LIMITED – ASX RIO, TRIBECA GLOBAL NATURAL RESOURCES FUND, FORTESCUE METALS GROUP LIMITED – ASX FMG

‘Orwellian merger test an affront to democracy’

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 4 : 18-Aug-17

The Federal Government’s proposal to subject trade union mergers to a public interest test has been criticised by ACTU secretary Sally McManus. Factors such as a union’s history of compliance with workplace laws and the merger’s effect on businesses would be taken into account when deciding whether to approve it. McManus claims that the bill breaches the International Labour Organization’s conventions on freedom of association, and that the Government is using the bill as a distraction.

CORPORATES
ACTU, INTERNATIONAL LABOUR ORGANIZATION, THE AUSTRALIAN INDUSTRY GROUP, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT

Retailer Godfreys sucks it up and goes back to basics

roymorgansocial Leave a comment

Original article by Simon Evans
The Australian Financial Review – Page: 26 : 18-Aug-17

Vacuum cleaner retailer Godfreys Group has posted a 2016-17 net loss of $A18.4 million. Revenue declined by 2.9 per cent to $A174.1 million, while 22 of its company stores were converted to franchise outlets during the year. Analysts see Godfreys falling behind stores like JB Hi-Fi and Harvey Norman in the $A1.3 billion Australian vacuum cleaner sector, while the pending arrival of Amazon presents another challenge for the group.

CORPORATES
GODFREYS GROUP LIMITED – ASX GFY, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, AMAZON.COM INCORPORATED, WERTHEIM SCHRODER AND COMPANY, HOOVER (AUSTRALIA) PTY LTD, DYSON INDUSTRIES LIMITED

NBN reality hits Telstra investors

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 1 & 2 : 18-Aug-17

Telstra has reported 2016-17 EBITDA of $A10.7 billion, up two per cent, while its profit from ongoing operations rose 1.1 per cent to $A3.9 billion. However, shares in the telco fell by 10.6 per cent on 17 August after it advised that dividend payments will be reduced in coming years, as it has to absorb higher costs in regard to the rollout of the national broadband network. Delian Entchev of Watermark Funds Management says Telstra should have changed its dividend payout ratio some time ago.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, NBN CO LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD, AUTOHOME INCORPORATED, CITI AUSTRALIA PTY LTD

Why lawyers are deserting partnerships

roymorgansocial Leave a comment

Original article by Katie Walsh
The Australian Financial Review – Page: 11 : 18-Aug-17

Law and accounting firms are increasingly moving away from the partnership structure in favour of a corporate model. John Chisholm, previously with both Maddocks and Middletons but now a consultant, says the need for consensus decisions among partnerships tends to lead to reduced creativity and innovation. The advantages of a corporate structure include reduced liability and greater ease in raising funds. Danny Gilbert of law firm Gilbert + Tobin notes that partnerships promote a sense of co-ownership, while the corporate model allows for quicker decisions.

CORPORATES
MADDOCKS LAWYERS, MIDDLETONS LAWYERS, GILBERT AND TOBIN LAWYERS, AUSTRALIAN TAXATION OFFICE, K&L GATES LLP, LEXOO, KEYPOINT LAW PTY LTD, LEGAL VISION, PHI FINNEY MCDONALD PTY LTD, SLATER AND GORDON LIMITED – ASX SGH, HWL EBSWORTH PTY LTD, BAKER AND McKENZIE, THE LAW SOCIETY OF NEW SOUTH WALES

Telstra, News in Foxtel deal ahead of float

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 17 & 21 : 18-Aug-17

Telstra and News Corp aim to secure regulatory approval for a proposed merger of Foxtel and Fox Sports by April 2018. They each own 50 per cent of Foxtel at present, but Telstra would reduce its stake in the combined Foxtel-Fox Sports to 35 per cent if the deal proceeds. News Corp CEO Robert Thomson says the merger would unlock value for the media group, which would have a 65 per cent stake in Foxtel-Fox Sports. The deal would enhance Foxtel’s ability to bid for sports broadcasting rights amid growing competition.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ESPN INCORPORATED, BEIN SPORTS, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, NETFLIX INCORPORATED, AMAZON.COM INCORPORATED, YOUTUBE INCORPORATED, GOOGLE INCORPORATED, TWITTER INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, NICK XENOPHON TEAM, 21ST CENTURY FOX INCORPORATED

Senate deadlock hits Ten’s rescue hopes

roymorgansocial Leave a comment

Original article by David Crowe, Darren Davidson
The Australian – Page: 1 & 2 : 18-Aug-17

Cross-media ownership reforms are in doubt after the Federal Government rejected a proposal by Senator Nick Xenophon to provide tax incentives for small media companies. The tax offset would have been available for the Australian editions of foreign publications such as "The Guardian", which Communications Minister Mitch Fifield says is inappropriate. The stalled media reform bill will effectively prevent most Australian media companies from bidding for the Ten Network. The deadline to submit bids is 18 August.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, ANCHORAGE CAPITAL GROUP LLC, SKY NEWS, AUSTRALIAN LABOR PARTY, PPB ADVISORY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN BROADCASTING CORPORATION, SEVEN WEST MEDIA LIMITED – ASX SWM, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Forrest wins fight to keep miners off his land

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 17 & 21 : 18-Aug-17

The High Court has upheld Andrew Forrest’s challenge to the validity of licences that were issued to Yarri Mining and ­Onslow Resources to mine sand on his Minderoo cattle station in Western Australia. The court ruled that the private companies’ mining proposals and mineralisation reports had been lodged after their mining lease applications, in breach of the Mining Act. The ruling could have implications for other mining licences in WA, and Gilbert + Tobin partner Marshall McKenna estimates that around five per cent of mining leases in the state could now be invalid.

CORPORATES
YARRI MINING PTY LTD, ONSLOW RESOURCES LIMITED, HIGH COURT OF AUSTRALIA, GILBERT AND TOBIN LAWYERS, WESTERN AUSTRALIA. DEPT OF MINES, INDUSTRY REGULATION AND SAFETY, FORTESCUE METALS GROUP LIMITED – ASX FMG, CAULDRON ENERGY LIMITED – ASX CXU, PERTH GLORY SOCCER CLUB PTY LTD

New partnership delivers powerful understanding of customers

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 18-Aug-17

Roy Morgan Research has announced a partnership with Melbourne-based Lexer. Analysing real-time data from social and public sources, Lexer creates rich profiles of a brand’s customers and prospects. When integrated with Roy Morgan’s Helix Personas, the enriched customer profiling enables clients to reach beyond their current CRM to discover what matters most to their audience – live. Roy Morgan’s Chief Digital Officer, Howard Seccombe, says the company’s clients use Helix Personas every day to inform their strategies, marketing campaigns and product development, and it was obvious that Roy Morgan needed to find a way of connecting Helix Personas with real-time human data to provide context and structure around the Personas who generate, engage and follow in these conversations.

CORPORATES
ROY MORGAN RESEARCH LIMITED, LEXER

BHP commits $3.1bn to Chile copper mine

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 21 : 18-Aug-17

BHP Billiton will expand its Spence copper mine in Chile at a cost of $US2.46bn ($A3.1bn). BHP had initially estimated in 2015 that expanding the project would cost around $US2.2bn. Dubbed the Spence Growth Option, the project will increase BHP’s annual copper output by about 185,000 tonnes during the first 10 years of the expansion. BHP anticipates an internal rate of return of about 16 per cent from the Spence Growth Option.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, ELLIOTT MANAGEMENT CORPORATION