Author: roymorgansocial

Australia, Asia ‘still vital’ for US trade

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Original article by Michael Owen
The Australian – Page: 2 : 13-Apr-17

The Asia-Pacific region remains "strategically and economically" important to the US, according to the acting ambassador to Australia, James Carouso. He stresses that President Donald Trump’s decision to withdraw from the Trans-Pacific Partnership will not affect the US’s engagement with the region, and the US will continue to pursue bilateral trade deals in Asia. Carouso also notes that two-way trade between Australia and the US has increased significantly since the free trade agreement between the two nations was ratified in 2004.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ASIA-PACIFIC ECONOMIC CO-OPERATION, BOEING COMPANY, CHEVRON CORPORATION, GENERAL ELECTRIC COMPANY, 3M CORPORATION, CISCO SYSTEMS INCORPORATED, SOUTH AUSTRALIAN HEALTH AND MEDICAL RESEARCH INSTITUTE LIMITED

Turnbull turns up heat on Shorten over Adani loan

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Original article by Joe Kelly
The Australian – Page: 2 : 13-Apr-17

Opposition Leader Bill Shorten still opposes granting Adani a concessional loan from the Northern Australian Infrastructure Facility to build a rail line associated with its Carmichael coal project. He notes that Prime Minister Malcolm Turnbull indicated in 2016 that the project would not receive financial support from taxpayers. Resources Minister Matt Canavan has also criticised Labor counterpart Jason Clare for claiming that Adani would have exclusive access to the rail line. Canavan says that several other coal miners would benefit from the rail line.

CORPORATES
ADANI ENTERPRISES LIMITED, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, AUSTRALIAN LABOR PARTY, HANCOCK PROSPECTING PTY LTD, GVK INDUSTRIES LIMITED, WARATAH COAL PTY LTD, MACMINES AUSTASIA PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

Kikki.k’s penalty rate secret exposed

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 7 : 13-Apr-17

The Fair Work Commission recently approved a new enterprise bargaining agreement for stationery retailer kikki.K. The EBA includes provision for a reduction in Sunday and public holiday penalty rates. However, employees say that they are not paid penalty rates at present, as they are employed as casual staff via labour hire firm Employment Innovations rather than directly by kikki.K. Some employees also say they were not involved in negotiations for the new EBA and only managerial staff were allowed to vote on it.

CORPORATES
KIKKI.K PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, EMPLOYMENT INNOVATIONS PTY LTD, HRO INITIATIVES, EI ADMINISTRATIVE SERVICES, TDM ASSET MANAGEMENT PTY LTD, FIRST SUPER PTY LTD, DAVID JONES LIMITED

Traders pour into gold as tensions rise

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Original article by David Rogers
The Australian – Page: 32 : 13-Apr-17

The price of gold has rallied in recent weeks as growing geopolitical tensions prompt renewed investor support for "safe haven" assets. Meanwhile, the yield on 10-year US Treasuries recently reached a five-month low and it is again testing this level, while the VIX volatility index has risen to its highest level in five months. However, Joseph Capurso of the Commonwealth Bank says the continued strength of the US dollar suggests that recent financial market trends do not constitute a "global risk-off event".

CORPORATES
CHICAGO BOARD OPTIONS EXCHANGE VOLATILITY INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MORGAN STANLEY CAPITAL INTERNATIONAL ALL COUNTRY WORLD INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AMP CAPITAL INVESTORS LIMITED

BHP lists ‘major flaws’ in Elliott’s restructure plan

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Original article by Paul Garvey
The Australian – Page: 19 & 32 : 13-Apr-17

BHP Billiton CEO Andrew Mackenzie says the resources group has examined the restructuring proposals put forward by Elliott Management and concluded that they do not make economic sense and are not in the interests of shareholders. BHP argues that scrapping the dual listing would be costly and would have no significant benefits, while it would be unlikely to gain regulatory approval in Australia. Mackenzie also says BHP has concluded that its mining and petroleum businesses are stronger as a single entity.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, MORGANS FINANCIAL LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY

$500k in fines for ‘arrogant’ CFMEU

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Original article by Simone Fox Koob
The Australian – Page: 2 : 12-Apr-17

The Construction, Forestry, Mining & Energy Union has been ordered to pay a $A490,000 fine over unlawful industrial action in 2014. The Federal Court has also imposed fines of between $A6,400 and $A22,400 on 10 CFMEU officials for their involvement in the industrial action against Kane Constructions. The strike action, which disrupted 10 construction projects in Victoria, was prompted by Kane’s move to enforce union right-of-entry laws. The judgment has been welcomed by Employment Minister Michaelia Cash.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, KANE CONSTRUCTIONS PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN MANUFACTURING WORKERS’ UNION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, SIR OWEN DIXON CHAMBERS, BMC WELDING AND CONSTRUCTION, JOHN BEEVER PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Nation’s snapshot: ages, mortgagees on the rise

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Original article by Rick Morton
The Australian – Page: 1 & 2 : 12-Apr-17

The first data from the 2016 Census shows that the "typical" Australian is a 38-year-old married women with two children and a mortgage. While both parents of this average Australian were born in Australia, the Census data shows that in both Victoria and New South the average resident now boasts at least one parent who was born overseas. The data also indicates that Australia has become a nation of home loan borrowers. New South Wales and Tasmania are now the only states where a majority of residents own their home outright.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN NATIONAL UNIVERSITY

Adani mine has huge economic benefits: Turnbull

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Original article by David Crowe
The Australian – Page: 4 : 12-Apr-17

Prime Minister Malcolm Turnbull has highlighted the proposed Carmichael coal mine’s likely contribution to jobs growth and government revenue. Turnbull has held talks with Indian entrepreneur Gautam Adani, who believes that the project qualifies for funding from the Northern Australia Infrastructure Facility. However, Opposition Leader Bill Shorten says the Carmichael coal mine and rail project needs to be commercially and economically viable, and it should not receive financial assistance from taxpayers.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ADANI ENTERPRISES LIMITED, ADANI MINING PTY LTD, AUSTRALIAN LABOR PARTY, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY

More Australians eating chocolate (even when it’s a gift for someone else!)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Apr-17

A Roy Morgan Single Source survey has found that 68.4% of Australians aged 14+ (just over 13.5 million people) ate some kind of chocolate in an average four weeks during the year to December 2016. This compares with 65.3% (12.5 million) in 2013. The survey also shows that 53.2% of Australians ate chocolate bars in 2016, (up from 47.9% in 2013), followed by chocolate blocks (41.8%, up from 40.2%) and boxed chocolates (19.2%, up from 16.5%). Although boxed chocolates are generally marketed as a gift someone would buy for someone else, nearly three-quarters (73.4%) of Australians who buy them in an average four weeks eat them too.

CORPORATES
ROY MORGAN RESEARCH LIMITED, CADBURY AUSTRALIA LIMITED, LINDT AND SPRUNGLI (AUSTRALIA) PTY LTD, FERRERO ROCHER

New app enlists ride-share drivers to cover breaking news stories

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 12-Apr-17

The NewsCar app, which will be launched in Sydney in late April 2017, allows motorists to be paid for supplying free-to-air TV networks with live video from the scene of breaking news events. The app enables TV networks to identify motorists who are close to the scene and direct them to record "first response" video on their mobile phone in return for instant payment. Members of the Ride Share Drivers Association of Australia will be given priority in allocating first response assignments.

CORPORATES
NEWSCAR, RIDER SHARE DRIVERS ASSOCIATION OF AUSTRALIA, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, UBER AUSTRALIA PTY LTD, BELL PARTNERS PTY LTD