Author: roymorgansocial

Economic issues ‘Unemployment’ and ‘The Economy’ top the list of concerns for Australians in mid-2017

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

A special Roy Morgan telephone survey has found that in mid-2017, 38% of Australians believe the economy or some kind of economic issue to be the most important problem facing Australia. This is 3% higher than in March 2017, although down 4% compared to a year ago. Within the group of Economic & Financial issues the most important issues are Unemployment (mentioned by 9% of respondents), the Economy in general and Interest rates (mentioned by 8% of respondents), and Housing affordability (mentioned by 6% of respondents). Analysing the question by Federal voting intention shows that 49% of Liberal-National Party supporters nominate an Economic issue as the biggest problem facing Australia, while Australian Labor Party supporters (39%) are almost in line with the broader community. Only 24% of Greens supporters nominate Economic issues as the most important problems facing Australia.

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ROY MORGAN RESEARCH LIMITED

A union merger that will cost us all

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Original article by
The Australian Financial Review – Page: 38 : 14-Jul-17

The proposed merger between the Construction, Forestry, Mining & Energy Union and two smaller unions will strengthen the union movement’s influence on the Australian economy. An enlarged CFMEU would have unprecedented control over the supply chain from "pit to port" across the nation’s resources sector. While the merger will be welcomed by the Australian Labor Party, a merger in the corporate sector that would result in a similar monopoly over labour supply would attract scrutiny from the competition regulator. Editorial.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, TEXTILE, CLOTHING AND FOOTWEAR UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, BORAL LIMITED – ASX BLD, DE MARTIN AND GASPARINI PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CHEVRON CORPORATION

ANZ-Roy Morgan New Zealand Consumer Confidence down slightly in July to 125.4

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 14-Jul-17

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has eased from 127.8 to 125.4 in July 2017, although it is still the second-highest result in the past five months. The Current Conditions Index fell 4 points to 124.9, while Future Conditions dipped 1 point to 125.8. Consumers’ views of their own financial position eased from +14 to +10. Consumers’ views regarding their own financial situation in 12 months’ time were little changed at +32 (+33 previously). Net optimism towards the economy one year out dipped from +25 to +23, and when assessing the five-year economic outlook, optimism held at +23, which is well above the average since 2015.

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

Housing price rises to halve, says NAB

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Original article by Elizabeth Redman
The Australian – Page: 6 : 14-Jul-17

National Australia Bank forecasts that house prices in the nation’s capital cities will rise by just five per cent in 2017, compared with growth of 11.6 per cent in 2016. NAB also expects growth in apartment prices to fall from 5.9 per cent in 2016 to three per cent. Chief economist Alan Oster says growth in residential property prices will be constrained by factors such as low growth in wages, the high level of dwelling construction and measures aimed at curbing foreign investment in the housing market.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, CORELOGIC AUSTRALIA PTY LTD, MORTGAGE CHOICE LIMITED – ASX MOC

Active management still delivers: Ophir

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Original article by Damon Kitney
The Australian – Page: 20 : 14-Jul-17

Ophir Asset Management’s co-founders Andrew Mitchell and Steven Ng are upbeat about the outlook for active fund managers. They argue that the active investment style is more effective at picking stocks that offer good value, as passive managers tend to allocate capital to sectors based on a market’s weightings. Ophir’s Opportunities Fund has achieve a total return of 352.2 per cent since it was established, while the Ophir High Conviction Fund has returned 62.5 per cent since inception.

CORPORATES
OPHIR ASSET MANAGEMENT PTY LTD, UNISUPER LIMITED, COLONIAL FIRST STATE GROUP LIMITED, STANDARD AND POOR’S ASX 20 INDEX

Tax good for competition: Morrison

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Original article by Andrew Tillett, Jacob Greber
The Australian Financial Review – Page: 3 : 14-Jul-17

Treasurer Scott Morrison had claimed that limiting the Federal Government’s bank levy to the five major banks would boost competition in the banking sector. However, smaller banks have been increasing their interest rates on higher-risk products such as interest-only loans. Shadow treasurer Chris Bowen says Morrison’s claim that the levy would enhance competition is "complete rubbish".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, STANDARD AND POOR’S FINANCIAL SERVICES LLC, MOODY’S INVESTORS SERVICE INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MORTGAGE CHOICE LIMITED – ASX MOC

Bosses face super gap crackdown

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Original article by Michael Roddan
The Australian – Page: 1 & 5 : 14-Jul-17

The Australian Government will take legislative action to close a loophole that allows companies to reduce compulsory superannuation contributions if the worker has opted to make voluntary contributions via salary-sacrificing. At present employers can legally pay less than 9.5 per cent of an employee’s salary into their super fund by basing it on the worker’s post-sacrificing wage. The reform is one of several recommendations of a report that was jointly produced by several regulatory agencies.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN

Tax blitz on lawyers, accountants

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Original article by Duncan Hughes, Joanna Mather
The Australian Financial Review – Page: 1 & 8 : 14-Jul-17

The Australian Government’s taskforce on the black economy is slated to release its final recommendations in October 2017. The head of the taskforce, Michael Andrew, has proposed greater scrutiny of lawyers and accountants as part of the effort to combat the cash economy, which is estimated to be worth around $A30bn. The taskforce has examined a number of options for addressing the issue, including a ban on cash transactions exceeding $A10,000, providing incentives for companies to shift to non-cash business models and offering an amnesty for cash-only businesses that transition to electronic payments.

CORPORATES
AUSTRALIAN TAXATION OFFICE, KPMG AUSTRALIA PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED, AUSTRALIA. DEPT OF FINANCE, PROPERTY COUNCIL OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, THE TAX INSTITUTE, NATIONAL PRESS CLUB (AUSTRALIA)

Fed chief says increasing prices will allow rate rises

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Original article by Nick Timiraos
The Australian – Page: 27 : 14-Jul-17

The general expectation of financial markets is that the Federal Reserve will increase US interest rates again in December 2017. Federal Reserve chair Janet Yellen has told Congress that it is too soon to suggest that the US inflation rate will reach two per cent in coming years. She added that the central bank will maintain its current stand on gradually lifting the cash rate unless inflation remains persistently below its target of two per cent.

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UNITED STATES. FEDERAL RESERVE BOARD, UNITED STATES. DEPT OF LABOR, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Coking coal customers not ditching quarterly prices just yet

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 14-Jul-17

Australian-listed Whitehaven Coal expects the quarterly contract pricing system to account for 40 per cent of its semi-soft coking sales in the next three months, and MD Paul Flynn says this could eventually rise to 70-80 per cent. He has downplayed speculation that coal buyers could eventually shift to a spot pricing system, noting that Whitehaven’s customers show no signs of wanting to make such a move at present. Glencore also intends to retain the quarterly contract system.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, GLENCORE PLC, NIPPON STEEL AND SUMITOMO METAL CORPORATION, SHAW AND PARTNERS LIMITED