Author: roymorgansocial

Advice not so super for retirees

roymorgansocial Leave a comment

Original article by Michael Roddan
The Australian – Page: 21 : 6-Jun-17

A new online comparison tool is intended to make it easier for superannuation fund members to assess performance data from the Australian Prudential Regulation Authority. The tool will be launched by professional services firm KPMG on 6 June 2017. Meanwhile, a new report from KPMG has found that industry funds’ share of the super industry has risen to about 33 per cent since 2004, while the market share of retail funds has fallen from 43 per cent to 29 per cent.

CORPORATES
KPMG AUSTRALIA PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. PRODUCTIVITY COMMISSION, CHANT WEST FINANCIAL SERVICES PTY LTD, SUPERRATINGS PTY LTD, AUSTRALIANSUPER PTY LTD, AUSTRALIAN LABOR PARTY

Corporate executives set to escape 457 visa changes

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 2 : 5-Jun-17

The Australian Government is expected to release a revised list of occupations that are excluded from the 457 visa scheme by the end of June 2017. The CEOs of several listed companies are among those to be affected by the visa reforms, but business groups are confident that the Government will relax the new rules with regard to senior executives. Sectors such as retailing, hospitality, tourism and higher education are also seeking exemptions from the new visa rules.

CORPORATES
AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, GRAINCORP LIMITED – ASX GNC, ORICA LIMITED – ASX ORI, NBN CO LIMITED, KORN/FERRY AUSTRALASIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), BHP BILLITON LIMITED – ASX BHP, WOODSIDE PETROLEUM LIMITED – ASX WPL, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, FRENCH CHAMBER OF COMMERCE AND INDUSTRY, MERCER CONSULTING GROUP INCORPORATED, WELLS FARGO AND COMPANY, GM HOLDEN LIMITED, 3M CORPORATION, EUROPCAR, UNIVERSITY OF SYDNEY

Credit Suisse chief’s cautionary IPO tale

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 17 : 5-Jun-17

Some high-profile IPOs in Australia have been withdrawn in 2017, and Credit Suisse John Knox says the market needs some successful IPOs in order to boost float activity. He adds that private equity firms are unlikely to be behind the majority of IPOs in the near-term. Knox is upbeat about the outlook for mergers and acquisitions activity during the remainder of 2017, while he has welcomed a move by the Foreign Investment Review Board to provide greater clarity regarding offshore bidders.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, OFFICEWORKS SUPERSTORES PTY LTD, WESFARMERS LIMITED – ASX WES, ZIP INDUSTRIES AUSTRALIA, ALINTA ENERGY (AUSTRALIA) PTY LTD, CHOW TAI FOOK ENTERPRISES LIMITED, ICON GROUP, QIC LIMITED, GOLDMAN SACHS PRIVATE EQUITY, PAGODA INVESTMENTS, TPG CAPITAL LP, FAIRFAX MEDIA LIMITED – ASX FXJ, DEALOGIC (AUSTRALIA) PTY LTD, AMAZON.COM INCORPORATED

One Nation seeks Qld deal in media laws

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 29 : 5-Jun-17

One Nation may be open to a compromise on the Federal Government’s cross-media ownership reforms. One Nation currently opposes the abolition of the "two-out-of-three" rule, but a spokesman says it would consider the reform if measures are put in place to prevent further concentration of media ownership in Queensland. The minor political party’s support may be crucial to the passage of the media bill, given that Labor and the Greens oppose scrapping the two-out-of-three rule.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN REGIONAL MEDIA, APN NEWS AND MEDIA LIMITED – ASX APN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN BROADCASTING CORPORATION, NICK XENOPHON TEAM

Call for $10,000 limit on cash deals to fight black economy

roymorgansocial Leave a comment

Original article by Nassim Khadem
The Age – Page: 18 : 5-Jun-17

Putting an expiry date on $A100 notes is one of the options that Michael Andrew is looking at in a bid to reduce the impact of the cash economy on government revenue. Andrew, who is in charge of the Australian Government’s Black Economy Taskforce, says other options include making electronic transactions more attractive by reducing card fees and imposing a ban on all cash transactions over $A10,000. It has been estimated that the cash economy costs the Government up to $A15 billion, due to "illegal welfare payments" and foregone tax revenue.

CORPORATES
AUSTRALIAN FEDERAL POLICE, AUSTRALIAN BUREAU OF STATISTICS, BUNNINGS GROUP LIMITED, AUSTRALIA. BOARD OF TAXATION, AUSTRALIAN CRIME COMMISSION, AUSTRALIAN CUSTOMS AND BORDER PROTECTION SERVICE

Slavery law to protect supply chains

roymorgansocial Leave a comment

Original article by Adele Ferguson
The Australian Financial Review – Page: 40 : 5-Jun-17

The Federal Opposition will announce on 5 June 2017 that it plans to enact an Australian Modern Slavery Act. The proposed Act has the support of the Business Council of Australia, the union movement and Wesfarmers, which has noted the difficulty of ensuring that all parts of its supply chain are run ethically. The Global Slavery Index estimates that there are 4,300 slaves in Australia. Meanwhile, Fair Work Ombudsman Natalie James has confirmed to a recent Senate hearing that it is investigating pizza maker Domino’s over its possible involvement in wage fraud.

CORPORATES
AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, WESFARMERS LIMITED – ASX WES, AUSTRALIA. FAIR WORK OMBUDSMAN, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, LIBERAL PARTY OF AUSTRALIA, WOOLWORTHS LIMITED – ASX WOW, PIZZA HUT AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN GREENS, BAIN CAPITAL LLC, DEUTSCHE BANK AG

New home sales coming off peak

roymorgansocial Leave a comment

Original article by Michael Bleby
The Australian Financial Review – Page: 34 : 5-Jun-17

New home sales all rose in New South Wales, Victoria and South Australia in April 2017, according to Housing Industry Association figures. Western Australian sales declined by 12.7 per cent, while Queensland sales fell for the fifth month in a row. Australia-wide, sales were up when compared to March, but were 3.3 per cent down on April 2016. HIA senior economist Geordan Murray notes its current forecasts for 2017-18 suggest new home starts will be down by about 10 per cent.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED

AGL bid to import LNG heats up

roymorgansocial Leave a comment

Original article by Matt Chambers
The Australian – Page: 17 & 18 : 5-Jun-17

AGL Energy is expected to name the preferred site for its proposed LNG import terminal within a matter of weeks. Sites in South Australia, New South Wales and Victoria are all said to be under consideration for the terminal, which is expected to cost between $200 million and $A300 million, with Western Port Bay in Victoria considered a possible option. AGL CEO Andy Vesey is understood to want to commence construction of the terminal in 2019, and for it to be operational in 2020-21.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, COUNCIL OF AUSTRALIAN GOVERNMENTS, CHENIERE ENERGY INCORPORATED, QIC LIMITED, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Investors betting big on potash

roymorgansocial Leave a comment

Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 5-Jun-17

BHP Billiton forecasts that global demand for potash will increase 2-3 per cent by 2030, in line with expectations of rising population growth and demand for crop foods. BHP hopes to commence production at its Jansen potash project in Canada by 2022, while Kore Potash is also aiming for a 2022 start date for its Kola potassium chloride project. Billionaires Gina Rinehart and Kerry Stokes have recently made investments in potash projects.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, KORE POTASH LIMITED – ASX K2P, HANCOCK PROSPECTING PTY LTD, SIRIUS MINERALS PLC, BC IRON LIMITED – ASX BCI, ANGLO AMERICAN PLC, MONDI GROUP, SUMMIT PRIVATE EQUITY, SQM

Slowdown is not a meltdown

roymorgansocial Leave a comment

Original article by Jens Meyer
The Australian Financial Review – Page: 20 : 5-Jun-17

The Australian sharemarket fell 2.7 per cent during May 2017, compared with a 1.4 per cent gain for the S&P 500. The upcoming release of GDP data will be the next test for the market, with expectations that the economy expanded by 0.3 per cent during the March quarter and 1.6 per cent year-on-year. Weak consumer spending and doubts regarding the outlook for the housing market are key concerns for investors at present, although David Cassidy of UBS says fears about a housing market collapse are not warranted.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, UBS HOLDINGS PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MORGAN STANLEY AUSTRALIA LIMITED, NIKKEI 225 INDEX, AMAZON.COM INCORPORATED, MERRILL LYNCH (AUSTRALIA) PTY LTD, CITIGROUP PTY LTD, RESERVE BANK OF AUSTRALIA