Author: roymorgansocial

‘Savers the big losers’ from rate rises

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Original article by Myriam Robin
The Australian Financial Review – Page: 31 : 6-Jul-17

Data from Canstar shows that just 15 out of 75 Australian lenders have increased their term deposit interest rates since the last official interest rate cut in August 2016. Steve Mickenbecker of Canstar says term deposit rates have fallen to an unprecedented low, and he warns that rates are unlikely to rise while inflation remains low. He adds that savers can adopt a number of strategies to obtain higher term deposit rates, but this requires a lot of effort. Meanwhile, banks are increasing their rates on interest-only and investor mortgage loans.

CORPORATES
CANSTAR PTY LTD, RESERVE BANK OF AUSTRALIA

Scurry to plug tax loophole for the wealthy

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Original article by Nick Tabakoff
The Australian – Page: 2 : 5-Jul-17

Financial Services Minister Kelly O’Dwyer has advised the Australian Taxation Office that the Federal Government’s tax cuts for small businesses were not meant to apply to passive family investment companies. BDO’s Tony Sloan argues that the ATO is merely applying the existing tax cuts legislation, which he says is sufficiently broad to include family investment vehicles. Sloan adds that the Government may have to amend the legislation in order to ensure that such investment vehicles cannot claim tax refunds and deductions.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, BDO CHARTERED ACCOUNTANTS AND ADVISERS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

ANZ-Roy Morgan Australian Consumer Confidence rises across the board – up 2.7pts to 114.5

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Jul-17

ANZ-Roy Morgan Australian Consumer Confidence rose 2.4% to 114.5 in the week ended 2 July 2017, bringing the index to its highest point since early April and above the long-run average. The rise in confidence was broad-based, with all sub-indices posting gains. The volatility in households’ views around current financial conditions continues, with the sub index rising 3.8%. Consumers were less optimistic about future financial conditions. This sub index rose 0.8% last week, only partially offsetting the 1.7% decline in the previous week. Confidence around both current and future economic conditions rose solidly (+3.7% and +3.0% respectively). The current economic conditions sub index now sits at its highest point since mid-March.

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

Business Confidence down in June to 111.8 driven by declines in the Retail and Electricity industries

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Jul-17

Business Confidence in Australia fell 2pts (-1.8%) to 111.8 in June, according to the Roy Morgan Business Single Source survey. Business Confidence declined on the back of falling expectations of the Australian economy, with fewer businesses expecting "good times" for the economy in both the short-term and the long-term. Some 46.9% (down 6.3ppts) of businesses expect "good times" for the economy over the next year and 49.6% (down 0.9ppts) expect "good times" for the economy over the next five years. Meanwhile, 46% (up 5.2ppts) of businesses expect "bad times" for the economy over the next year and 42.5% (up 2.4ppts) expect "bad times" for the economy over the next five years. Roy Morgan Research CEO Michele Levine says the back-to-back declines for Business Confidence over the past two months has seen Business Confidence dip below the ANZ-Roy Morgan Australian Consumer Confidence rating for the first time since early March.

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

Solar Electric Panels hot items in Queensland & South Australia

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Jul-17

The latest Roy Morgan research shows almost one in four Australian households (23.2%) own a Home Solar Electric Panel (Year to March 2017). Ownership is strongest in South Australia (32.8%), Queensland (30.2%) and Western Australia (26.6%). However, take-up lags in Australia’s biggest States with only 17.7% of households in New South Wales and 21% of Victorian households owning Home Solar Electric Panels. In the next 12 months only 1% (94,000) of Australian households intend to buy (or replace) their Home Solar Electric Panels.

CORPORATES
ROY MORGAN RESEARCH LIMITED

RBA douses talk of rate rises

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Original article by David Rogers, Adam Creighton
The Australian – Page: 17 & 25 : 5-Jul-17

Financial markets have priced in a nine per cent chance of a rise in Australia’s cash rate before the end of 2017 in the wake of the Reserve Bank’s July board meeting. The chances of a rate rise in the next 12 months have fallen from 84 per cent to 76 per cent. The central bank’s monetary policy statement was largely unchanged from May, although the Reserve Bank noted that a gradual strengthening of the Australia economy is likely. It also highlighted the need for the Australian dollar to remain low as the domestic economy completes its transition from the mining investment boom.

CORPORATES
RESERVE BANK OF AUSTRALIA, CAPITAL ECONOMICS LIMITED, JP MORGAN AUSTRALIA LIMITED, EUROPEAN CENTRAL BANK, BANK OF ENGLAND, BANK OF CANADA

ACCC looks at bids for shaky Ten

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Original article by Max Mason
The Australian Financial Review – Page: 13 & 16 : 5-Jul-17

The Australian Competition & Consumer Commission has been approached to assess whether a joint bid for the Ten Network by Lachlan Murdoch and Bruce Gordon would be likely to substantially reduce competition. The ACCC will issue a statement of issues by 24 July on a potential bid for Ten by their investment vehicles, Illyria and Birketu. A formal bid for Ten by Murdoch and Gordon would be conditional on changes to cross-media ownership rules, given their other media interests.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ILLYRIA PTY LTD, BIRKETU PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, 21ST CENTURY FOX INCORPORATED, TELSTRA CORPORATION LIMITED – ASX TLS, CANWEST GLOBAL COMMUNICATIONS CORPORATION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, PPB ADVISORY

Bid to break media deadlock

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Original article by Rosie Lewis
The Australian – Page: 5 : 5-Jul-17

Abolition of the "two-out-of-three" rule remains a major stumbling block for the Federal Government’s cross-media ownership reforms. However, Senator Nick Xenophon says the key issue is the need to ensure that diversity of media voices is increased and the industry creates and retains more jobs for journalists. The Nick Xenophon Team will propose a range of measures aimed at safeguarding media diversity, in a bid to resolve the impasse in the Senate.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, ONE NATION PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Mega uranium mine runs into legal hurdle

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 5-Jul-17

The Conservation Council of Western Australia will pursue legal action in a bid to overturn environmental approval for the Yeelirrie uranium mine. The former Liberal government approved the project prior to the 2017 state election, but the CCWA will argue that this approval may be legally invalid. There are concerns that Cameco’s Yeelirrie project may threaten a species of stygofauna. However, the low price of uranium may be the biggest deterrent to Cameco proceeding with the project in the near-term.

CORPORATES
CONSERVATION COUNCIL OF WESTERN AUSTRALIA INCORPORATED, CAMECO CORPORATION, LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIAN LABOR PARTY, PALADIN ENERGY LIMITED – ASX PDN, KPMG AUSTRALIA PTY LTD, CHINA NATIONAL NUCLEAR CORPORATION, WESTERN AUSTRALIA. DEPT OF ENVIRONMENT AND CONSERVATION, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY

Coles ends bargaining over weekend rates

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 4 : 5-Jul-17

Grocery retailer Coles has opened negotiations with unions for a new two-year enterprise bargaining agreement. Coles has indicated that the new EBA will be based on the minimum employment conditions in the relevant industrial award. The Fair Work Commission terminated the existing EBA in 2016, as it included lower weekend penalty rates in return for higher base pay rates. Coles has advised that all employees will be paid at least the award rate at all times under the new EBA.

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, THE AUSTRALASIAN MEAT INDUSTRY EMPLOYEES’ UNION, RETAIL AND FAST FOOD WORKERS’ UNION, WOOLWORTHS LIMITED – ASX WOW, BIG W DISCOUNT STORES, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, BUNNINGS GROUP LIMITED