Author: roymorgansocial

Major banks reduce legal powers over SME customers

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Original article by James Eyers
The Australian Financial Review – Page: 16 : 1-May-17

All four of Australia’s major banks have made changes to the terms of their loans to small businesses. The changes, which were recommended by small business ombudsman Kate Carnell, relate to "non-monetary default" clauses in loan contracts. The changes will apply to loans of up to $A3 million, although in the case of Westpac and the ANZ, they will only apply to new loans or when an existing loan is being renewed or modified. The Commonwealth Bank and National Australia Bank will apply the changes to both new and existing loans.

CORPORATES
AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN BANKERS’ ASSOCIATION

Banks set for earnings boost from rate hikes

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Original article by James Frost, Jonathan Shapiro
The Australian Financial Review – Page: 13 & 16 : 1-May-17

The ANZ Bank, Westpac and National Australia Bank will release their 2016-17 interim results in early May 2017, while the Commonwealth Bank will release a trading update for the third quarter of its financial year. The "big four" banks are forecast to post a combined interim cash profit of around $A16bn. Earnings are expected to have been bolstered by the banks’ recent moves to lift their interest rates for investor and interest-only home loans. Citigroup forecasts that the rate rises will boost earnings per share by up to two per cent in 2017.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CITIGROUP PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSBIL INVESTMENT MANAGEMENT LIMITED, UBS HOLDINGS PTY LTD, STANDARD CHARTERED BANK MALAYSIA BERHAD, STANDARD CHARTERED BANK PLC, DNR CAPITAL PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Government considering $100m TV licence fee cuts

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 1-May-17

The Australian Government’s May 2017 Budget may include broadcasting licence fee relief for free-to-air TV networks. Options that are said to be under consideration include abolishing the existing revenue-based licence fee or replacing it with a flat fee. The licence fee reforms are intended to offset the impact of a proposed ban on gambling advertisements during live sports broadcasts. The anti-siphoning list may also be revised to compensate pay-TV groups for the loss of gambling ad revenue.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NICK XENOPHON TEAM, ONE NATION PARTY

Career Wizard is a new aid to career selection

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 1-May-17

Roy Morgan Research and Career Wizard Pty Ltd have joined forces to develop an entirely different aid to help people make career choices. Career Wizard answers the question, "What do people like me do for a living?" Many tests attempt to match individuals and career options. Career Wizard taps into a unique resource, Roy Morgan Single Source, to compare an individual’s attributes with those of people already working in different jobs and industries. Career Wizard administers a range of 78 key questions related to life goals, attitudes, activities, education level, postcode and gender. Users are scored based on their responses, and these scores reveal how closely they match with others working in 96 occupations in 15 industries.

CORPORATES
ROY MORGAN RESEARCH LIMITED, CAREER WIZARD PTY LTD

Murdoch holds the key to re-shaping television

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Original article by Aaron Patrick, Max Mason
The Australian Financial Review – Page: 36 & 37 : 1-May-17

Ten Network’s market capitalisation has slumped to just $A99.7m in the wake of a recent profit warning. The 7.7 per cent stake held by News Corporation’s co-chairman Lachlan Murdoch is now worth just $A7.7m, and there is speculation that News Corp ultimately wants to acquire the struggling TV network. Ten is seeking to renegotiate or terminate its content deals with CBS and 21st Century Fox, amid declining viewership of US TV shows in Australia. Ten also faces a deadline to repay or roll over a loan facility that has been guaranteed by Murdoch, James Packer and Bruce Gordon.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, NOVA ENTERTAINMENT PTY LTD, CBS CORPORATION, 21ST CENTURY FOX INCORPORATED, CITIGROUP PTY LTD, WIN CORPORATION PTY LTD, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, YOUTUBE INCORPORATED, INSTAGRAM LLC, DISCOVERY COMMUNICATIONS INCORPORATED, REA GROUP LIMITED – ASX REA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CCZ STATTON EQUITIES PTY LTD, ITV NETWORK LIMITED, McKINSEY AND COMPANY, PROSIEBENSAT.1 MEDIA AG

Penalties hypocrisy storm for Bill’s bus

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Original article by Joe Kelly
The Australian – Page: 1 & 2 : 28-Apr-17

Employment Minister Michaelia Cash has accused Australian Labor Party leader Bill Shorten of hypocrisy over his opposition to Sunday penalty rate cuts. Cash was commenting on revelations that several enterprise agreements negotiated for retail workers in north Queensland by the Australian Workers’ Union during Shorten’s time as its leader left staff working on Sundays worse off than under previous agreements. A spokesperson for Shorten said he had no involvement in the negotiations that led to the agreements in question.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TARGET AUSTRALIA PTY LTD, BIG W DISCOUNT STORES, JUST JEANS PTY LTD, RYDGES HOTELS – RESORTS, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION

New Zealand First in the box seat to decide next NZ Government as National Party neck-and-neck with Labour/ Greens

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 28-Apr-17

A New Zealand Roy Morgan Poll on voting intention has found that support for the ruling National Party has fallen by 0.5 per cent to 43 per cent in April 2017. Support for the Labour Party was unchanged at 29.5 per cent, while support for a potential Labour/Greens alliance has fallen by 1.5 per cent to 43 per cent. Support for New Zealand First rose three per cent to 10.5 per cent. Roy Morgan Research executive chairman Gary Morgan says that if NZ First maintains this level of support in the lead-up to the election later in 2017 it will win up to 14 seats in the new Parliament and party leader Winston Peters is likely to return to the Government benches for the first time since 2008.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, NATIONAL PARTY OF NEW ZEALAND, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, CONSERVATIVE PARTY OF NEW ZEALAND, THE MAORI PARTY, UNITED FUTURE PARTY (NEW ZEALAND), NEW ZEALAND FIRST PARTY, ACT NEW ZEALAND, INTERNET PARTY, MANA PARTY

Newcrest hit by power prices, Cadia damage

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Original article by Peter Ker, Tess Ingram
The Australian Financial Review – Page: 19 : 28-Apr-17

Newcrest Mining has warned that full-year gold production for 2016-17 is likely to be at the lower end of its guidance. Newcrest has also indicated that its Cadia gold mine in New South Wales is unlikely to return to full capacity for some time following an earthquake. Meanwhile, the company has advised of an increase of about 90 per cent in the base price it will pay for electricity at Cadia under a new supply agreement for 2017-18. Newcrest says it will seek a better supply deal.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, RBC CAPITAL MARKETS

Ten review to cut costs in ‘every dark corner’

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Original article by Mitchell Bingemann
The Australian – Page: 21 : 28-Apr-17

Ten Network has posted a 2016-17 interim loss of $A232.2m and advised that it expects to book a full-year underlying EBITDA loss of between $A25m and $A30m. CEO Paul Anderson has revealed plans for an 18-month "transformation program" that will seek to increase revenue and aggressively reduce costs. Ten’s directors have conceded that there is significant doubt about its ability to continue as a going concern, with a $A200m debt facility due to expire at the end of 2017.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, WIN CORPORATION PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Smooth operators ease way to top of heap

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Original article by Stephen Brook
The Australian – Page: 3 : 28-Apr-17

Nova Entertainment’s SmoothFM topped the FM ratings in both Sydney and Melbourne in GfK’s second radio ratings survey for 2017. SmoothFM boasted an audience share of 9.9 per cent in both cities, almost five years after being launched under the Vega banner. Meanwhile, Sydney’s 2GB increased its overall audience share by 0.3 points to 11.6 per cent. Ratings for its breakfast show rose by 0.6 points to 13.5 per cent following the return of Alan Jones after an extended absence on medical grounds.

CORPORATES
SMOOTHFM 91.5 PTY LTD, SMOOTHFM 95.3 PTY LTD, NOVA ENTERTAINMENT PTY LTD, ILLYRIA PTY LTD, 2GB, GFK PTY LTD, NEWS CORPORATION – ASX NWS, KIIS1065, TRIPLE M CORPORATION PTY LTD, SEVEN NETWORK LIMITED