Author: roymorgansocial

ANZ-Roy Morgan Australian Consumer Confidence rises to 115.1 (up 2.3%)

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

ANZ-Roy Morgan Australian Consumer Confidence rose 2.3% to 115.1 in the week ended 23 July 2017, following an 0.4% fall the previous week. The increase in confidence was driven primarily by an improvement in consumers’ views towards both current and future economic conditions. Households’ views around current financial conditions rose 1.8%, entirely reversing the prior week’s fall. Views towards future financial conditions were less positive, with the sub-index slipping 1.1%. Both sub-indices currently sit above their long-term averages. Consumers’ views towards current economic conditions increased a sharp 7.9%, bringing the sub-index to its highest point in 20 weeks. Views around future economic conditions rose 2.7%, more than offsetting the 1.6% decline in the previous week.

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

Labor’s inequality claim a ‘lie’: Morrison

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 25-Jul-17

Opposition Leader Bill Shorten has indicated that addressing rising inequality will be one of Labor’s main goals if its wins the next federal election. However, Treasurer Scott Morrison has rejected claims by Labor that inequality is on the rise, noting that the last census indicated that income inequality is actually declining. Nonetheless, Morrison does concede that not everyone may feel that they are getting the benefits of Australia’s 25-plus years of continued economic growth.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE

Steep fine for 7-Eleven boss over pay rort

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Original article by Sarah Danckert
The Age – Page: 11 : 25-Jul-17

A former Brisbane-based 7-Eleven franchisee has been fined $A168,000 by the Federal Court, following an investigation by the Fair Work Ombudsman into wage underpayment. Jim Chien-Ching Chang was found to have underpaid eight employees by almost $A20,000, with one employee found to have been underpaid by almost $A14,000. The court heard that Chang had admitted to paying staff as little as $A13 an hour at all times of the day.

CORPORATES
7-ELEVEN STORES PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. FAIR WORK OMBUDSMAN, JS TOP PTY LTD

Union claims not practical

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Original article by Estha Van Der Linden
The Advertiser – Page: 26 : 25-Jul-17

The Fair Work Commission has rejected claims by the union movement for paid leave for family and domestic violence, after some months of consideration. It has also rejected applications for changes to part-time and casual employment; both measures would have served as a deterrent to employment. The FWC is now considering an application to have paid leave for giving blood to be inserted in some awards, despite blood donation being a strictly voluntary act and something that employees can do in their own time.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, BUSINESS SA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Charter Hall tipped to pay $A250 million for Hastings

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Original article by Nick Lenaghan, Matthew Cranston
The Australian Financial Review – Page: 32 : 25-Jul-17

Charter Hall Group and Westpac have reported that they are in discussions with a view to the former buying Westpac’s Hastings Funds Management business. Hastings, which was started by former Carlton football player Mike Fitzpatrick, has an infrastructure portfolio valued at $A14.3 billion, with investments in assets such as the port of Newcastle and Perth Airport. Experts suggest that Charter Hall will have to pay about $A250 million for Hastings.

CORPORATES
CHARTER HALL GROUP – ASX CHC, WESTPAC BANKING CORPORATION – ASX WBC, HASTINGS FUNDS MANAGEMENT LIMITED, CARLTON FOOTBALL CLUB LIMITED, QIC LIMITED, AMP CAPITAL INVESTORS LIMITED, BROOKFIELD CAPITAL MANAGEMENT LIMITED

Looking to profits to solve economy’s jumbled puzzle

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Original article by Vesna Poljak
The Australian Financial Review – Page: 15 & 20 : 25-Jul-17

PM Capital’s Uday Cheruvu says the August 2017 earnings season will be more important than usual given that business confidence seems to be improving but consumer confidence remains subdued. Cheruvu adds that capital expenditure intentions will also be a key metric in the upcoming reporting season, suggesting that building materials group in particular may increase capex. Meanwhile, Goldman Sachs says companies whose earnings could exceed expectations include BlueScope Steel, Crown Resorts, Telstra and South32.

CORPORATES
PM CAPITAL LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD, BLUESCOPE STEEL LIMITED – ASX BSL, CROWN RESORTS LIMITED – ASX CWN, TELSTRA CORPORATION LIMITED – ASX TLS, SOUTH32 LIMITED – ASX S32, BRAVURA SOLUTIONS LIMITED.- ASX BVS, COSTA GROUP HOLDINGS LIMITED – ASX CGC, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, COCA-COLA AMATIL LIMITED – ASX CCL, MEDIBANK PRIVATE LIMITED – ASX MPL, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, CITIGROUP PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, MYER HOLDINGS LIMITED – ASX MYR, ADAIRS LIMITED – ASX ADH, CREDIT SUISSE (AUSTRALIA) LIMITED, CYAN INVESTMENT MANAGEMENT PTY LTD, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, UNITED STATES. FEDERAL RESERVE BOARD, RIO TINTO LIMITED – ASX RIO, RESMED INCORPORATED – ASX RMD, SUNCORP GROUP LIMITED – ASX SUN, TABCORP HOLDINGS LIMITED – ASX TAH

Labor extends bank probe to regulators

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 25-Jul-17

Shadow treasurer Chris Bowen will reveal on 25 July 2017 that Labor will review agencies that are involved in the regulation of the financial services sector if it wins the next federal election. He will speak at a meeting of the Financial Services Council, with Labor’s proposed review to be on top of its promised royal commission into the banking sector. The growing emergence of fintech and increased household debt are two of the reasons why Bowen will state that a review of financial services regulation is warranted.

CORPORATES
AUSTRALIAN LABOR PARTY, FINANCIAL SERVICES COUNCIL, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. COUNCIL OF FINANCIAL REGULATORS

Canavan turns up heat on LNG exporters

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 25-Jul-17

The Federal Government will decide by November 2017 whether to impose LNG export controls in 2018 via its Australian Domestic Gas Security Mechanism. Resources Minister Matt Canavan has sought advice from regulatory agencies regarding the outlook for gas supply and demand. He has expressed disappointment with gas producers’ proposals to date for resolving the gas crisis on the east coast. Santos CEO Kevin Gallagher has urged greater co-operation between the gas industry and governments to encourage investment in new projects.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, SANTOS LIMITED – ASX STO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN ENERGY REGULATOR, THE AUSTRALIAN INDUSTRY GROUP, EXXONMOBIL CORPORATION, BHP BILLITON LIMITED – ASX BHP, ENERGYQUEST PTY LTD

Lihir digs in to get Newcrest on target

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Original article by Paul Garvey
The Australian – Page: 20 : 25-Jul-17

Newcrest Mining’s gold production totalled 551,815 ounces in the June 2017 quarter, compared with 598,602 ­ounces in the March quarter. However, record quarterly output of 276,230 ounces at the Lihir mine in Papua New Guinea helped offset lost output at the Cadia mine in New South Wales. Full production at Cadia is expected to resume in the September quarter, following earthquake damage in April. Meanwhile, Newcrest has applied for 40 exploration tenements in Ecuador.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SOLGOLD PLC, RBC CAPITAL MARKETS, GOLDMAN SACHS AUSTRALIA PTY LTD

MasterChef chews on a karate chop from Ninja

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Original article by Stephen Brook
The Australian – Page: 3 : 25-Jul-17

The ratings for Ten Network’s "MasterChef" grand final on 24 July will be closely scrutinised following the success of Nine Network’s "Australian Ninja Warrior". The first part of the "MasterChef" finale attracted an audience of 953,000 in the five major capital cities on 23 July, compared with a peak audience of 1.75 million for Nine’s sports reality show. The ratings success of "Australian Ninja Warrior" has also prompted the Seven Network to reschedule some programs.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION