Author: roymorgansocial

RBA dampens rate cut hopes

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Original article by David Rogers
The Australian – Page: 17 & 28 : 27-Jul-17

Reserve Bank of Australia governor Philip Lowe has signalled that the central bank will maintain its inflation target of 2-3 per cent. Meanwhile, new data shows that CPI growth in the June quarter was below expectations at 1.9 per cent, although growth in core inflation was in line with forecasts at 1.8 per cent. Shane Oliver of AMP Capital expects the RBA to leave the cash rate at 1.5 per cent until at least the end of 2018.

CORPORATES
RESERVE BANK OF AUSTRALIA, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN BUREAU OF STATISTICS, THE ANIKA FOUNDATION

Second jobs growth steady, dispels fears

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 26-Jul-17

Data from the Australian Bureau of Statistics shows that the overall proportion of workers who have more than one job has remained steady at six per cent since 2010-11. Some 763,200 Australians had a second job in 2015-16, which is 3.7 per cent higher than the previous financial year and 9.2 per cent higher than in 2010-11. The figures are part of the ABS’s new "Labour Account" data, which aims to estimate the actual number of jobs across the economy.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Small miners, pot stocks dominate IPOs

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Original article by James Frost
The Australian Financial Review – Page: 22 : 26-Jul-17

The materials sector accounted for 15 of the 57 companies that debuted on the Australian sharemarket in the first half of 2017. They included five gold stocks and three lithium hopefuls. Marcus Ohm of HLB Mann Judd notes that IPOs raised $A1.9bn in total during the first half, compared with $A2.5bn in the first half of 2016 (from 34 IPOs). The majority of IPOs in the year to date have been worth less than $A100m. Meanwhile, the number of "back-door" listings fell from 69 to just 10.

CORPORATES
HLB MANN JUDD, OFFICEWORKS SUPERSTORES PTY LTD, WESFARMERS LIMITED – ASX WES, THE GOOD GUYS, JB HI-FI LIMITED – ASX JBH

Lendlease tops up pool to close pay gap

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Original article by Turi Condon
The Australian – Page: 19 & 23 : 26-Jul-17

Lendlease CEO Steve McCann says companies need to constantly monitor salaries to combat the gender pay. Lendlease has increased its salary pool in recent years to ensure pay equity, and the company has been actively monitoring the salaries of male and female workers in comparable roles since 2014. Meanwhile, the Property Male Champions of Change has advised that the gender balance in leadership roles at its member organisations rose to 30 per cent in 2016-17, compared with 22.1 per cent in 2014-15.

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, PROPERTY MALE CHAMPIONS OF CHANGE, DEXUS PROPERTY GROUP – ASX DXS, STOCKLAND – ASX SGP, MIRVAC GROUP – ASX MGR, SCENTRE GROUP – ASX SCG, SAVILLS (AUST) HOLDINGS PTY LTD, CUSHMAN AND WAKEFIELD PTY LTD, FRASERS PROPERTY GROUP, JONES LANG LASALLE AUSTRALIA PTY LTD, CHARTER HALL GROUP – ASX CHC, GPT GROUP – ASX GPT, BRITISH BROADCASTING CORPORATION

UK to probe Rio’s Guinea bribe scandal

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Original article by Matt Chambers
The Australian – Page: 19 & 22 : 26-Jul-17

The Serious Fraud Office in the UK will undertake an investigation into a $US10.5m payment to a consultant in 2011 regarding Rio Tinto’s Simandou iron ore project in Guinea. The resources giant had notified anti-bribery agencies in the US, the UK and Australia about its concerns regarding the payment in late 2016. The SFO has asked for anyone with further information on the issue to come forward. The scandal resulted in the dismissal of two senior Rio Tinto executives.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GREAT BRITAIN. SERIOUS FRAUD OFFICE, AUSTRALIAN FEDERAL POLICE, UNITED STATES. DEPT OF JUSTICE, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION, ROLLS-ROYCE PLC

Labor won’t abolish trusts, just tax them

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 26-Jul-17

Shadow treasurer Chris Bowen says the Australian Labor Party will still allow people to use trust structures if it wins the next federal election. However, Labor will crack down on the use of trusts as vehicles to reduce tax liabilities, although there are concerns that its measures could mainly affect users of trusts such as farmers and small businesses. Treasurer Scott Morrison says there are many legitimate reasons for using a trust.

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AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, NATIONAL PARTY OF AUSTRALIA

Canavan quits cabinet over citizenship

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Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 26-Jul-17

Senator Matt Canavan will seek a High Court ruling on his eligibility to remain in Parliament after discovering that he may hold dual citizenship in Italy. Canavan has stepped down as the Minister for Resources and Northern Australia pending confirmation of his eligibility to be elected to Parliament. Canavan was born in Australia, but recently found out that his mother had applied for him to become an Italian citizen in 2006 without his knowledge or consent. Foreign-born Greens senators Scott Ludlam and Larissa Waters were recently forced to quit Parliament due to their dual citizenship.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, HIGH COURT OF AUSTRALIA, COURT OF DISPUTED RETURNS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT

It’s Official: Australians are concerned about security

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Jul-17

A Roy Morgan Single Source survey has found that 65% of Australians aged +14 agreed with the statement "I’m security conscious" in March 2017, compared with a low of 60.5% in September 2013. Meanwhile, 45% reported that "I feel less safe than I used to", up from 53% in 2003 and just 39% in mid-2014. The survey also shows that 58% of Australians agree that "Crime is a growing problem in my community", compared with 70% in 2003 and just 53% in June 2015.

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ROY MORGAN RESEARCH LIMITED

Surging dollar threatens post-boom momentum as it tests US80c

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Original article by David Rogers
The Australian Financial Review – Page: 19 & 27 : 26-Jul-17

The Australian dollar has gained 3.5 per cent so far in July, and it remains close to a two-year high. The currency has risen by about 10 per cent in the year to date, and its trade-weighted index has risen by five per cent. The Australian dollar has benefited from factors such as a downturn in the value of its US counterpart and growing speculation that the Reserve Bank will increase interest rates in 2018. Greg Gibbs of Amplifying Global FX Capital says a further sharp fall in the value of the US dollar is possible given the US economic outlook.

CORPORATES
RESERVE BANK OF AUSTRALIA, AMPLIFYING GLOBAL FX CAPITAL PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, THE ANIKA FOUNDATION, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. FEDERAL RESERVE BOARD

News engages giants on subscriptions play

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Original article by Darren Davidson, Eli Greenblat
The Australian – Page: 21 : 26-Jul-17

News Corp Australasia executive chairman Michael Miller has told the Melbourne Press Club that News Corp is holding talks regarding a subscription-based model for access to its content on Facebook and Google. Miller added that media companies must accept some responsibility for loss of revenue due to their policy of making online content available for free. He also stressed News Corp’s commitment to quality local journalism.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, SKY NEWS, AUSTRALIAN NEWS CHANNEL PTY LTD, MELBOURNE PRESS CLUB