Author: roymorgansocial

Targeted tax strike on digital economy

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Original article by David Crowe, David Uren
The Australian – Page: 1 & 2 : 11-Jan-17

The Australian Government plans to overhaul the tax system in response to the transition from a cash-based economy to digital payments. Treasurer Scott Morrison has stressed the need to ensure that the nation’s tax base is modern as well as comprehensive and reflects the shift to a digital economy. The Government also intends to crack down on the so-called "black economy", while 2017 will also see the broadening of the GST to include online purchases and new measures to counter profit-shifting by multinationals.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GOOGLE INCORPORATED, NETFLIX INCORPORATED, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK, CSIRO

Packer back in charge

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Original article by Anne Hyland, John Stensholt
The Australian Financial Review – Page: 1 & 19 : 11-Jan-17

Robert Rankin will remain on the board of casinos group Crown Resorts when he steps down as chairman on 1 February 2017. He will be succeeded by John Alexander, who has been on Crown’s board since 2007. Crown has also appointed 48.2 per cent shareholder James Packer to its board less than 18 months after he resigned as executive chairman. Packer has outlined five priorities for Crown in 2017. Meanwhile, Guy Jalland will replace Rankin as CEO of Packer’s private company, Consolidated Press Holdings.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, CLUBS NSW PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, PACIFIC POINT PARTNERS, PUBLISHING AND BROADCASTING LIMITED

Qld urged to ditch 50pc energy target

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Original article by Mark Ludlow
The Australian Financial Review – Page: 6 : 11-Jan-17

The Queensland Resources Council says the State Government should reconsider its policy of lifting renewable sources’ share of power generation from just seven per cent to 50 per cent by 2030. It argues that the focus should be on setting an appropriate target for renewables which ensures that there is no rise in electricity prices for retail customers. The QRC has also raised doubts about the number of jobs that the renewable energy industry is likely to generate.

CORPORATES
QUEENSLAND RESOURCES COUNCIL LIMITED, AUSTRALIAN ENERGY COUNCIL, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN LABOR PARTY

Christmas sales hope after November slip

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Original article by Patrick Commins
The Australian Financial Review – Page: 18 : 11-Jan-17

Data from the Australian Bureau of Statistics shows that retail spending in November 2016 was 0.2 per cent higher than October in seasonally-adjusted terms. Economists had expected growth of 0.4 per cent in November, after sales rose by 0.5 per cent in October. Meanwhile, economists note that anecdotal evidence suggests that retail sales improved in December.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, CAPITAL ECONOMICS LIMITED, RBC CAPITAL MARKETS, JP MORGAN AUSTRALIA LIMITED

REA spends $70m on passage to India’s vast property market

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Original article by Daniel Palmer
The Australian – Page: 17 : 11-Jan-17

Australian-listed property listings company REA Group will lift its stake in PropTiger to 21 per cent after agreeing to pay $US50m ($A68m) for an additional 14.7 per cent stake in the company. PropTiger is one of India’s largest property listings groups, and its websites include proptiger.com and housing.com. REA, which owns realestate.com.au, recently flagged plans to focus on markets in Australia, Asia and North America.

CORPORATES
REA GROUP LIMITED – ASX REA, REALESTATE.COM.AU, PROPTIGER, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Mortgage payments steady as rates rise

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Original article by Michael Bennet
The Australian – Page: 17 : 11-Jan-17

Data from Deutsche Bank shows that Australians’ home loan repayments now comprise around 17 per cent of their income, which is consistent with the average over the last three decades. The figures also show that mortgage payment account for 63.6 per cent of Sydney borrowers’ weekly income, compared with 45.3 per cent in Melbourne and just 27.3 per cent in Perth. Meanwhile, Paul Bloxham of HSBC says the residential construction boom is nearing its peak.

CORPORATES
DEUTSCHE BANK AG, HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, SUNCORP GROUP LIMITED – ASX SUN, ING DIRECT, DIGITAL FINANCE ANALYTICS

Paladin flags critical debt restructure

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 11-Jan-17

Australian-listed uranium producer Paladin Energy has revealed plans to restructure its debt. Some $US212m worth of convertible bonds are set to mature in April 2017, while an additional $US150m worth of convertible notes will mature in 2020. Paladin proposes to replace them with $US115m worth of secured bonds and $US102 million of convertible bonds, which would mature in 2022 and 2024. Bondholders would also be issued with shares in Paladin if they endorse the proposal.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, ATLAS IRON LIMITED – ASX AGO, EMECO HOLDINGS LIMITED – ASX EHL, CITIGROUP PTY LTD, SHAW AND PARTNERS LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ELECTRICITE DE FRANCE, CHINA NATIONAL NUCLEAR CORPORATION

Red Bull TV, Ten Network to air revived Tropfest short-film event

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 11-Jan-17

The 25th Tropfest short film festival will be streamed live to a global audience via the web-based Red Bull TV. The five-day festival will commence on 7 February 2017, and the Ten Network will broadcast the 16 finalist films on channel Eleven. SBS had previously held the free-to-air broadcasting rights for Tropfest, which will be held at Parramatta Park for the first time. Tropfest’s future had been in doubt in late 2015, when the event encountered financial problems.

CORPORATES
TROPFEST PTY LTD, RED BULL TV, RED BULL GMBH, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SPECIAL BROADCASTING SERVICE (SBS), ERNST AND YOUNG

CBA pips BHP again and is tipped to be most traded in 2017

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Original article by Peter Ker
The Australian Financial Review – Page: 27 : 11-Jan-17

Some $A67.55bn worth of Commonwealth Bank shares changed hands in 2016, making it the most-traded Australian stock by value for the second consecutive year. Turnover of BHP Billiton shares totalled $A62.71, making it the second-most traded stock by value for the calendar year. Michael Heffernan of Phillip Capital says the banking major is likely to retain the title for some time. Telstra was the most-traded stock by volume for the seventh year in a row.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, PHILLIP CAPITAL LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, RIO TINTO LIMITED – ASX RIO, WESFARMERS LIMITED – ASX WES, MACQUARIE GROUP LIMITED – ASX MQG, NEWCREST MINING LIMITED – ASX NCM, FORTESCUE METALS GROUP LIMITED – ASX FMG, WOOLWORTHS LIMITED – ASX WOW, WOODSIDE PETROLEUM LIMITED – ASX WPL, SOUTH32 LIMITED – ASX S32, MIRVAC GROUP – ASX MGR, ALUMINA LIMITED – ASX AWC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, LONDON STOCK EXCHANGE

ANZ-Roy Morgan Australian Consumer Confidence jumps to 120.1 (up 6.7pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Jan-17

ANZ-Roy Morgan Australian Consumer Confidence jumped a sharp 5.9% to 120.1 in the week ended 8 January 2017, more than reversing the decline in the last survey conducted in mid-December (post the surprisingly weak GDP reading). The headline index is now at its highest level in 15 weeks. The details were broadly upbeat. Households’ views of economic conditions over the next 12 months bounced a solid 11.2%, almost entirely reversing last month’s decline. Households’ views of the economic outlook in the next five years rose 2.2%. Meanwhile, households’ views towards their finances compared to a year ago rose 3.0% and now sits at the highest level since the end of September 2016, when the index reached a post-GFC high. Households’ views towards their future finances also improved, up 3.5% last week, and are in a strong upward trend.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ