Author: roymorgansocial

Over 1 in 3 Australians now have Netflix as subscriptions jump 20 percent in first quarter of 2017

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Jun-17

A Roy Morgan Single Source survey shows that an estimated 7,091,000 million Australians aged 14+ (36 per cent) had Netflix in the three months to March 2017, up sharply from 5,862,000 (29 per cent) in the previous quarter. The latest surge in Netflix’s potential audience is the result of a 20 per cent jump in the number of household subscriptions since the end of 2016. An estimated 2,714,000 Australian homes (29 per cent) are now subscribed. Roy Morgan has been measuring Netflix in Australia since its beginning in early 2015. Roy Morgan Research CEO Michele Levine says what we have seen is a classic case of rapid technological adoption, with early adopters signing up first, professional technology mainstream following close behind, and a continuation of high growth as younger digital natives, older tech explorers, traditionalists and even technophobes begin to discover Subscription Video On Demand services.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NETFLIX INCORPORATED

New tax bill for Chevron over inter-company loans

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Original article by Matt Chambers
The Australian – Page: 19 : 8-Jun-17

Chevron Australia’s financial accounts show that it made a net loss of $US541m in 2016, compared with a $US165m profit in 2015. The local subsidiary of US energy giant Chevron did not pay income tax and petroleum resource rent tax in 2016. The accounts also indicate that the Australian Taxation Office has issued amended assessments regarding interest deductions on intercompany loans for the period covering 2009 to 2013. This is in addition to the additional tax bill of $A340m for the period from 2003 to 2007.

CORPORATES
CHEVRON AUSTRALIA PTY LTD, CHEVRON CORPORATION, AUSTRALIAN TAXATION OFFICE, FEDERAL COURT OF AUSTRALIA

Economy at slowest pace since GFC

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Original article by Adam Creighton
The Australian – Page: 1 & 2 : 8-Jun-17

The latest national accounts data shows that the Australian economy expanded by just 1.7 per cent in the year to March 2017, which is the lowest annual growth rate for eight years. GDP growth was 0.3 per cent in the March quarter, compared with 1.1 per cent in the December 2016 quarter. Treasurer Scott Morrison has downplayed concerns about the outlook for the economy and the implications for May 2017 Budget forecasts. He notes that 17 out of 20 industry sectors recorded growth during the March quarter, while business investment has risen for two consecutive quarters.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CITIGROUP PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

McGowan’s pokies plan to increase WA share of GST

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Original article by Andrew Burrell, Paul Garvey
The Australian – Page: 2 : 8-Jun-17

Western Australian Premier Mark McGowan will use the upcoming Council of Australian Governments meeting to put forward a new proposal for the distribution of goods and services tax revenue. He wants state gambling taxes to be included in GST revenue, which would benefit WA as it does not permit pubs and clubs to operate poker machines. He will also press for 25 per cent of WA’s iron ore royalties to be exempt from being redistributed to other states via the GST system.

CORPORATES
WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

‘Glass walls’ contribute to gender pay gap

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Original article by Stephanie Peatling
The Age – Page: 13 : 8-Jun-17

A report produced by the Senate’s Finance & Public Administration Committee has made a number of recommendations aimed at addressing the gender pay gap. They include amending the Fair Work Act to include the objective of achieving pay equity and developing a national strategy on the issue. Australian Labor Party senator Jenny McAllister says the gender pay gap has narrowed by just one per cent to 16 per cent over the last two decades.

CORPORATES
AUSTRALIA. SENATE STANDING COMMITTEE ON FINANCE AND PUBLIC ADMINISTRATION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Ad execs overestimate public use of social media

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Original article by Max Mason
The Australian Financial Review – Page: 26 : 8-Jun-17

The AdNation 2017 has found that people who work in the advertising, marketing and media sector believe that 100 per cent of ordinary Australians used Facebook in the last week and 94 per cent used YouTube. In contrast, 79 per cent of ordinary Australians who were surveyed had used Facebook in the last week, and 61 per cent had used YouTube. There was a similar divergence for other social media platforms. The survey, which was undertaken on behalf of Think TV, also highlights the continued popularity of TV among ordinary Australians.

CORPORATES
FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, INSTAGRAM LLC, SNAPCHAT INCORPORATED, TWITTER INCORPORATED, GOOGLE INCORPORATED, THINK TV, UNIVERSITY OF ADELAIDE

Quarterly coal contract system to ‘fall over’

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 25 : 8-Jun-17

There is growing expectation that Japanese coal buyers will abandon the traditional quarterly contract price system in favour of one based on the spot price. Wesfarmers’ incoming CEO Rob Scott believes that Japan’s steel mills could opt for a new pricing system within weeks. BHP Billiton’s chief commercial officer, Arnoud Balhuizen, also recently flagged a shift away from contract pricing. Meanwhile, Scott has indicated that the sale of Wesfarmers’ coal assets is still on the agenda.

CORPORATES
WESFARMERS LIMITED – ASX WES, BHP BILLITON LIMITED – ASX BHP, THE MELBOURNE MINING CLUB, STANWELL CORPORATION LIMITED

Thai firm’s Montara oil well plan rejected

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Original article by Paul Garvey
The Australian – Page: 17 & 27 : 8-Jun-17

Australia’s National Offshore Petroleum Safety & Environmental Management Authority has rejected an application by PTTEP to drill a new production well at the Montara oil field off the coast of Western Australia. The regulator expressed concern about the environmental impact of the proposed oil well, as well as aspects of the Thai company’s environmental plan. There was a major oil spill at the Montara field in 2009.

CORPORATES
AUSTRALIA. NATIONAL OFFSHORE PETROLEUM SAFETY AND ENVIRONMENTAL MANAGEMENT AUTHORITY, PTTEP OFFSHORE INVESTMENT COMPANY LIMITED

Adani’s end of year wait for loan decision

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Original article by Mark Ludlow, Peter Ker
The Australian Financial Review – Page: 6 : 8-Jun-17

Adani aims to finalising funding for the first stage of the $A16.5bn Carmichael coal project in December 2017. Adani still hopes to partially fill a $A3.3bn funding deficit via a concessional loan from the Northern Australia Infrastructure Facility. Resources Minister Matthew Canavan says the NAIF’s board is not expected to make a decision on the loan until the end of the year. Wood Mackenzie estimates that the thermal coal price will need to average $U82 per tonne – compared with $US74 at present – for the first stage of the Carmichael project to achieve a 15 per cent rate of return.

CORPORATES
ADANI MINING PTY LTD, ADANI ENTERPRISES LIMITED, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AURIZON HOLDINGS LIMITED – ASX AZJ, WOOD MACKENZIE

Activist’s press role a bad call, says ALP

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Original article by Darren Davidson
The Australian – Page: 3 : 8-Jun-17

The Australian Press Council is facing growing scrutiny over the appointment of GetUp’s deputy chair Carla McGrath to its board. Shadow communications minister Michelle Rowland says confidence in the APC may be undermined by the appointment of a senior member of the political activist group, and she has stressed the need for the APC to ensure that it avoids any conflicts of interest. Opposition Leader Bill Shorten is a former director of Getup.

CORPORATES
AUSTRALIAN PRESS COUNCIL, GETUP LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS