Author: roymorgansocial

SUV sales about to overtake cars

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Original article by Aaron Patrick
The Australian Financial Review – Page: 7 : 6-Jan-17

Australians bought 1,178,133 new cars in 2016, or two per cent more than in 2015. Figures from the Federal Chamber of Automotive Industries, released on 5 January 2017, show that the most popular models were Toyota HiLux (42,104 units) Toyota Corolla (40,330), Hyundai i30 (37,772), and Ford Ranger (36,934). Sport utility vehicles were still very popular among buyers, with sales rising 3.4 per cent to a record 47.6 per cent of combined passenger car and SUV sales.

CORPORATES
FEDERAL CHAMBER OF AUTOMOTIVE INDUSTRIES, TOYOTA MOTOR CORPORATION, HYUNDAI MOBIS COMPANY LIMITED, FORD MOTOR COMPANY, DR ING HCF PORSCHE AG, MERCEDES-BENZ AG, BMW AG, AUSTRALIAN AUTOMOTIVE AFTERMARKET ASSOCIATION

Wikipedia at heart of Indonesia spat

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Original article by Joanna Mather
The Australian Financial Review – Page: 4 : 6-Jan-17

Indonesia’s decision to suspend military co-operation with Australia seems to be related to teaching materials found by Indonesian soldiers on a base in Perth. Apparently, the soldiers objected to the Indonesian national philosophy Pancasila not being treated with due reverence. Indonesians also believe that Australians are inclined to support an irredentist movement in West Papua. Australian Defence Minister Marise Payne is keen to resolve the issue as quickly as possible.

CORPORATES
AUSTRALIA. DEPT OF DEFENCE, AUSTRALIAN NATIONAL UNIVERSITY, RMIT UNIVERSITY

Winha jumps 40pc on debut

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Original article by
The Australian – Page: 21 : 6-Jan-17

Winha Commerce & Trade International had a spectacular debut on the Australian stock exchange on 5 January 2017, closing at $A0.49 or 40 per cent above the issue price of $A0.35 a share. The Chinese-based food retailer raised $A8.5 million through the float. The funds will be used to buy 49 per cent of Melbourne-based wholesaler Flavours.

CORPORATES
WINHA COMMERCE AND TRADE INTERNATIONAL LIMITED – ASX WQW, FLAVOURS PTY LTD

Cashed-up Atlas cuts its debt by $54m

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Original article by Paul Garvey
The Australian – Page: 17 : 6-Jan-17

Atlas Iron has repaid $A54 million in debt. The Australian-listed mining company benefited from rising iron ore prices. Its cash reserves are now at $134 million. Atlas Iron’s improving financial situation is reflected in its share price. The stock has risen from $A0.009 in October 2016 to $A0.027 on 5 January 2017.

CORPORATES
ATLAS IRON LIMITED – ASX AGO

Price spike breathes life into old mines

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 6-Jan-17

At $US77 per tonne in early January 2017, the price of iron ore is high enough to ensure profitability of mining projects that would otherwise be economically unfeasible. Several small Australian mining companies are reviewing their plans with the view of restarting or expanding their mines. Mount Gibson Iron intends to recommence production at Koolan Island’s main pit which ceased in November 2014.

CORPORATES
MOUNT GIBSON IRON LIMITED – ASX MGX, MINERAL RESOURCES LIMITED – ASX MIN, BC IRON LIMITED – ASX BCI, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, CLIFFS NATURAL RESOURCES INCORPORATED, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP

Mining deals set to rebound

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Original article by Matt Chambers, Michael Bennet
The Australian – Page: 16 : 6-Jan-17

Rising commodity prices are likely to prompt Australian mining companies to seek growth opportunities through mergers and acquisitions (M&A). In 2016, M&A activity was subdued, with total transactions worth only $A6.9 billion, compared with $A71.9 billion in the boom year of 2007.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ALCAN INCORPORATED, ABERDEEN ASSET MANAGEMENT LIMITED, BHP BILLITON LIMITED – ASX BHP, RBC CAPITAL (AUSTRALIA) LIMITED, GENESEE AND WYOMING INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG, ORBIS GOLD LIMITED – ASX OBS, EVOLUTION MINING LIMITED – ASX EVN, DEUTSCHE BANK AG, ALLEN AND OVERY, MMG LIMITED – ASX MMG

Pension cuts biting marginal Lib seats

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Original article by Rachel Baxendale
The Australian – Page: 4 : 6-Jan-17

The Federal Government’s changes to the Age Pension assets test may prompt angry pensioners to vent their anger at seats held by the Liberal Party of Australia. Seats that may be vulnerable include Kevin Andrews’s seat of Menzies (Victoria), Jason Falinski’s seat of Mackellar (NSW), Scott Morrison’s seat of Cook (NSW), Paul Fletcher’s seat of Bradfield (NSW), Tim Wilson’s seat of Goldstein (Victoria), and Greg Hunt’s seat of Flinders (Victoria).

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

MP rorts inquiry heads to High Court

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Original article by
The Australian Financial Review – Page: 7 : 6-Jan-17

The Victorian Government does not want the misuse of allowances during the 2014 Victorian election campaign to be investigated by the office of Ombudsman. In November 2015, the Legislative Council requested the office to investigate the matter. Asked whether the office have sufficient powers to do so, the Supreme Court answered in the affirmative. An appeal of the Government was dismissed in December 2016. Attorney-General Martin Pakula stated on 5 January 2017 that the matter of the Ombudsman’s prerogatives will now be taken to the High Court.

CORPORATES
VICTORIA. OFFICE OF THE ATTORNEY-GENERAL, HIGH COURT OF AUSTRALIA, SUPREME COURT OF VICTORIA, AUSTRALIAN LABOR PARTY, VICTORIA. OFFICE OF THE OMBUDSMAN

Festive joy for Myer, JB Hi-Fi

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Original article by Jessica Gardner
The Australian Financial Review – Page: 14 : 6-Jan-17

Australian retailers recorded solid sales during Christmas. Citi analysts have found that department store Myer and electronics retailer JB Hi-Fi performed particularly well. Wesfarmers’ Target and Harvey Norman used discounting to entice shoppers to their stores. In their 2016-17 profit estimates, Citi analysts are optimistic about Myer and pessimistic about OrotonGroup and Specialty Fashion.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, TARGET AUSTRALIA PTY LTD, GOOD GUYS, CITI AUSTRALIA PTY LTD, OROTONGROUP LIMITED – ASX ORL, SPECIALTY FASHION GROUP LIMITED – ASX SFH, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES

Gas crunch bites with price hikes

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 1 : 6-Jan-17

Manufacturers have raised concerns about imminent shortages in gas supply and their impact on prices. Mark Chellew, chairman of Manufacturing Australia, says a period of between mid-2017 and late 2018 will be particularly difficult. According to EnergyQuest, a supply shortfall will reach 172 petajoules in 2020 and 205 petajoules in 2025.

CORPORATES
MANUFACTURING AUSTRALIA LIMITED, ENERGYQUEST PTY LTD, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, VICTORIA WOOL PROCESSORS, ENERGYAUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION