Author: roymorgansocial

All options open in PRRT review

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Original article by Joanna Mather, Angela Macdonald-Smith
The Australian Financial Review – Page: 7 : 5-Jan-17

The review of the petroleum resource rent tax (PRRT), led by former Treasury official Michael Callaghan, will be dispassionate, analytical and objective. Callaghan stressed these qualities of the review in an interview given on 4 January 2017. Treasurer Scott Morrison announced the review in November 2016. Its objective is to find out why PRRT receipts declined from a peak of $A2.5 billion in 2000 to about $A900 million a year.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, INTERNATIONAL TRANSPORT WORKERS’ FEDERATION

ANZ leads in the big four investing game

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Original article by Tony Boyd
The Australian Financial Review – Page: 40 : 4-Jan-17

The ANZ Banking Group is selling its 20 per cent stake in the Shanghai Rural Commercial Bank for $A1.8 billion. The transaction will have a positive effect on the bank’s common equity tier 1 capital ratio, raising it to the highest level among Australia’s big four banks. Shareholders have reasons to be satisfied. The bank is likely to increase its return on equity.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

ANZ fires up Asia exit in $1.8b sale

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Original article by James Frost
The Australian Financial Review – Page: 1 : 4-Jan-17

ANZ Banking Group is retreating from Asia, with the latest transaction being the sale of its 20 per cent stake in Shanghai Rural Commercial Bank for $A1.8 billion. The stake is being acquired in two equal tranches by China COSCO Shipping Corporation and Shanghai Sino Poland Enterprise Management Development Corporation. The sale will result in a rise in ANZ’s tier one capital ratio from 9.6 per cent to 10 per cent.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, CHINA COSCO SHIPPING CORPORATION, SHANGHAI SINO POLAND ENTERPRISE MANAGEMENT DEVELOPMENT CORPORATION, BANK OF TIANJIN COMPANY LIMITED, AMBANK BERHAD

Morrison needs to go micro if he wants big results

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Original article by Stephen Anthony
The Australian Financial Review – Page: 39 : 3-Jan-17

Federal Treasurer Scott Morrison needs to focus on stimulating growth in Australia’s productivity which can be achieved by more rigorous commitment to budget repair and taxation reform. Government spending must be curtailed and more attention must be paid to waste reduction. It would be desirable to establish an independent parliamentary infrastructure office whose role would be to coordinate infrastructure projects. More competition is needed in sectors which still use restrictive business and labour practices.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, INDUSTRY SUPER AUSTRALIA PTY LTD

Blind lawyer sues Maurice Blackburn

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Original article by Misa Han
The Australian Financial Review – Page: 7 : 4-Jan-17

Lawyer Louisa Young has accused law firm Maurice Blackburn of discriminating against her because of her blindness. The documents lodged with the Federal Circuit Court allegedly show that Young was effectively demoted. Young says she was informed at a meeting in August 2016 that her duties had to be changed due to her disability. Young’s employment at Maurice Blackburn was terminated in December 2016.

CORPORATES
MAURICE BLACKBURN PTY LTD, FEDERAL CIRCUIT COURT OF AUSTRALIA

ASX hits 19-month high on China news

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Original article by Jens Meyer, Patrick Commins
The Australian Financial Review – Page: 26 : 4-Jan-17

The S&P/ASX 200 index closed 1.2 per cent higher at 5,733.2 points on 3 January 2017. Investors were encouraged by a one point rise in China’s Caixin manufacturing PMI, to 51.9 points in December 2016. All sectors benefited from positive investor sentiment. Trading volumes were low as many professional traders are still on holiday.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, SHANGHAI RURAL COMMERCIAL BANK, EVOLUTION MINING LIMITED – ASX EVN, BUBS AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, THE A2 MILK COMPANY LIMITED – ASX A2M, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, HUNTER HALL INTERNATIONAL LIMITED – ASX HHL, WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, GALAXY RESOURCES LIMITED – ASX GXY, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES

Australians shelling out for more free-range eggs

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Original article by Esther Han
The Age – Page: 3 : 4-Jan-17

Figures from the Australian Egg Corporation’s annual report suggest that Australians are becoming more discriminating when buying eggs. Sales of free-range eggs have risen from 20.3 per cent to 40.7 per cent in the past 10 years. Sales of caged eggs declined from 74.9 per cent to 49.5 per cent in the same period.

CORPORATES
AUSTRALIAN EGG CORPORATION LIMITED, CSIRO, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, AUSTRALIAN CONSUMERS’ ASSOCIATION

Foreign property interest to run strong

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Original article by Scott Murdoch
The Australian – Page: 13 : 4-Jan-17

Foreign investors bought $A10 billion worth of Australian commercial property in 2016. Large transactions included the acquisition of Dexus’s Southgate complex in Melbourne by ARA Property Group. The $A578 million transaction was executed in August. JLL CEO Stephen Conry expects strong interest in Australian property among foreign buyers to continue in 2017.

CORPORATES
JONES LANG LASALLE AUSTRALIA PTY LTD, DEXUS PROPERTY GROUP – ASX DXS, ARA PROPERTY GROUP, WOOLWORTHS LIMITED – ASX WOW, INMARK PTY LTD, ASCENDAS PTE LTD, SINGBRIDGE GROUP, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED

Commodity prices surged 40pc in 2016

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Original article by Geoff Winestock
The Australian Financial Review – Page: 5 : 4-Jan-17

The Reserve Bank of Australia’s commodity price index rose 84 per cent in Australian dollar terms in 2016. Manufacturing is also in good shape, with the Australian Industry Group’s performance of manufacturing index being at 55.4 per cent in December 2016. In agriculture, prices declined about five per cent in 2016.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, RESERVE BANK OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Why the gloom merchants got housing wrong

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 3 : 4-Jan-17

Property prices are still rising, despite predictions of a decline. CoreLogic’s Home Value Index for December 2016 shows that they rose 10.9 per cent in the five main capital cities in 2016. They increased eight per cent in 2015. Louis Christopher, of SQM Research, says house prices are rising because of factors such as low interest rates, population growth and inadequate supply.

CORPORATES
SQM RESEARCH PTY LTD, CORELOGIC AUSTRALIA PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, DOMAIN.COM.AU, MACQUARIE GROUP LIMITED – ASX MQG, BIS SHRAPNEL PTY LTD, MACRO ASSOCIATES PTY LTD, CITI AUSTRALIA PTY LTD, HSBC AUSTRALIA HOLDINGS PTY LTD