Author: roymorgansocial

ANZ-Roy Morgan Australian Consumer Confidence virtually unchanged at 112.5

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Jul-17

ANZ-Roy Morgan Australian Consumer Confidence edged down 0.4% to 112.5 in the week ended 16 July 2017, following a 1.3% fall the previous week. The details were mixed. Consumers were quite optimistic about their financial conditions next year, but were less upbeat towards the current financial situation. Households’ views around current financial conditions fell 1.8%, following two straight weekly rises. Views towards future conditions were more upbeat, with the sub-index rising a solid 3.7%. Both sub-indexes remain close to their long-term averages. Consumers’ views towards current economic conditions remained unchanged, but views around future economic conditions fell 1.6%, following a 2.5% decline previously. Both sub-indexes remain under their long-term averages.

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

Stars align for Packer as Ellerston swoops

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Original article by Sarah-Jane Tasker, Damon Kitney
The Australian – Page: 17 & 28 : 18-Jul-17

Ellerston Capital has become a substantial shareholder in casino operator The Star Entertainment Group, after increasing its stake in mid-July. Crown Resorts’ major shareholder James Packer is a passive investor in Ellerston, with a 25 per cent stake. Ellerston’s move to increase its stake in The Star has prompted speculation of a potential consolidation in the gambling sector, particularly in the wake of Crown’s decision to focus on its Australian operations. Rohan Sundram of Citigroup recently noted the synergies arising from a merger between Crown and The Star.

CORPORATES
THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, ELLERSTON CAPITAL PTY LTD, CROWN RESORTS LIMITED – ASX CWN, CITIGROUP PTY LTD, PERPETUAL LIMITED – ASX PPT, GENTING BERHAD, CONSOLIDATED PRESS HOLDINGS LIMITED, UBS HOLDINGS PTY LTD, ELLERSTON AUSTRALIAN SHARE FUND, MACQUARIE GROUP LIMITED – ASX MQG

Online shoppers come out at night while malls get mauled

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Original article by Eli Greenblat
The Australian – Page: 19 : 18-Jul-17

Online sales in Australia rose by more than 11 per cent in 2016, according to a new report from Australia Post. The "Inside Australian Online Shopping Report" shows that 30 per cent of online purchases comprised items from department stores and variety stores, while fashion products accounted for 22 per cent of all sales. Meanwhile, almost 33 per cent of online purchases were made between 7pm and 10pm, while residents of the Melbourne suburb of Point Cook boasted the largest growth in online purchases.

CORPORATES
AUSTRALIA POST

Twiggy changes his tune as Fortescue plans for iron boost

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Original article by Paul Garvey
The Australian – Page: 17 & 20 : 18-Jul-17

Planning documents show that Fortescue Metals Group proposes to commence construction work on its Eliwana iron ore mine in the Pilbara in mid-2019, with production slated to commence in 2020 if the project proceeds. The mine would have a maximum production capacity of 50 million tonnes per year, although Fortescue expects annual output of around 30 million tonnes. Fortescue is also considering the Nyidinghu deposit to replace the Firetail mine, which has annual capacity of around 27 million tonnes.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

PM to opt for security super agency

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 18-Jul-17

Prime Minister Malcolm Turnbull appears set to go ahead with the creation of a new national security "super-portfolio". The proposed new department, which would be headed by Immigration Minister Peter Dutton, would see Dutton assume control of agencies such as the Australian Federal Police and ASIO, along with border protection. The concept does not have total support within the Coalition, with Defence Minister Marise Payne and Foreign Minister Julie Bishop among those to have previously expressed misgivings about the idea.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF DEFENCE, GREAT BRITAIN. HOME OFFICE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Queensland denies power price-gouging

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Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 18-Jul-17

Queensland’s Energy Minister Mark Bailey has rejected claims that CS Energy and Stanwell Corporation are involved in "price gouging". The allegations were raised by Federal Energy Minister Josh Frydenberg, who has asked the Australian Energy Regulator to investigate the two state-owned power companies. Bailey says they follow the same rules as privately-owned generators, and that Frydenberg is just trying to divert attention away from the Federal Government’s internal ructions on energy policy.

CORPORATES
QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY, CS ENERGY LIMITED, STANWELL CORPORATION LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, RIO TINTO LIMITED – ASX RIO, SUN METALS CORPORATION PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY

Recycling of assets ‘getting through’ to US

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 11 & 15 : 18-Jul-17

IFM Investors CEO Brett Himbury says the Australian superannuation investor is keen to be involved if the US gets serious about infrastructure asset recycling. Himbury recently visited the US, where he met with officials from a number of states with the potential to be involved in the sale of infrastructure assets in order to raise funds for new infrastructure investment. Goldman Sachs has previously noted that publicly-owned US toll roads alone are worth around $US120 billion.

CORPORATES
IFM INVESTORS PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, THE CARLYLE GROUP

ANZ joins the party with addition of Samsung Pay

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Original article by James Frost
The Australian Financial Review – Page: 14 : 18-Jul-17

The ANZ Bank’s Bob Belan notes that it has become the first major bank to allow customers to make mobile payments using Apple, Samsung and Android devices. ANZ will begin offering the Samsung Pay contactless mobile payments solution. It was the first Australian bank to provide access to the rival Apple Pay service. Westpac revealed plans to offer Samsung Pay earlier in 2017.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SAMSUNG ELECTRONICS AUSTRALIA PTY LTD, SAMSUNG PAY, WESTPAC BANKING CORPORATION – ASX WBC, APPLE INCORPORATED, APPLE PAY, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FACEBOOK INCORPORATED, MESSENGER CORPORATION, WECHAT, SNAPCHAT INCORPORATED, CITIGROUP INCORPORATED, AMERICAN EXPRESS COMPANY, CREDIT UNION AUSTRALIA LIMITED, BANK AUSTRALIA, DEFENCE BANK LIMITED, BANK OF SYDNEY LIMITED

Harrison found liable to pay Seven’s costs

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Original article by Misa Han
The Australian Financial Review – Page: 3 : 18-Jul-17

Seven West Media is unlikely to enforce a costs order against former employee Amber Harrison provided she complies with a non-disclosure agreement. The Supreme Court of New South Wales has ruled that Harrison must pay Seven’s legal costs on an indemnity basis. Justice John Sacker said that Seven had incurred
"unnecessary and significant legal costs" due to Harrison’s
"unreasonable" actions in pursuing legal action against the media group.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SUPREME COURT OF NEW SOUTH WALES

Headaches for Reserve Bank as Aussie battler becomes dollar dazzler

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Original article by David Rogers
The Australian – Page: 17 & 28 : 18-Jul-17

The Australian dollar has gained three per cent against its US counterpart in the last week, peaking at a two-year high of $US0.7836 in intra-day trading on 17 July. Meanwhile, the Australian dollar trade-weighted index has risen to 66.4 points. Ray Attrill of National Australia Bank says the currency’s recent strength means the Reserve Bank will not increase the cash rate as quickly as financial markets had expected.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, GROUP OF TEN (G-10), UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, BLOOMBERG LP