Author: roymorgansocial

Homegrown mini-series driving a ratings resurgence at Foxtel

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 23 & 25 : 12-Dec-16

Pay-TV company Foxtel has invested heavily in the production of local dramas in 2016. This commitment has paid off, with Foxtel recording ratings growth and a number of Australian Academy of Cinema & Television Arts awards. Brian Walsh, Foxtel’s executive director of television, is upbeat about the outlook for 2017, but he concedes that competition for viewers will intensify. In addition to a slate of local productions, Foxtel will also have exclusive content from HBO in the US.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN ACADEMY OF CINEMA AND TELEVISION ARTS, HBO, NETFLIX INCORPORATED, AMAZON.COM INCORPORATED, AMAZON PRIME VIDEO, BRITISH BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS

Woolworths smashes ACCC on suppliers

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 1 & 7 : 9-Dec-16

Federal Court judge David Yates agreed with Woolworths that the retailer’s "Mind the Gap" scheme was of "ordinary nature" of doing business. The Australian Competition & Consumer Commission accused Woolworths of unconscionable conduct, but Justice Yates found that Woolworths did not contravene section 21 of the Australian Consumer Law. Australian Food & Grocery Council CEO Gary Dawson said the decision could lead to more companies requesting money from suppliers.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN FOOD AND GROCERY COUNCIL, NATIONAL PARTY OF AUSTRALIA

Santos takes ‘sweat or exit’ action

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 18 : 9-Dec-16

Australian-listed oil and gas producer Santos aims to slash its net debt by $US1.5bn ($A2bn) by 2019 as part of a restructuring program. This will including moving non-core assets to a holding company, allowing the group to focus on five key growth assets. These include the Gladstone LNG project, its Cooper Basin gas assets and the Papua New Guinea LNG venture. Santos will also make its gas processing facilities available to rival gas producers. The non-core assets could potentially be sold in the future.

CORPORATES
SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, ENN HOLDINGS, AWE LIMITED – ASX AWE, AUSBIL INVESTMENT MANAGEMENT LIMITED, CLOUGH LIMITED, RBC CAPITAL MARKETS

MUA in court over ports picket

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 4 : 9-Dec-16

The Fair Work Ombudsman has launched legal action against the Maritime Union of Australia over unprotected industrial action in August 2015. The union picketed Hutchison Ports’ container terminals in Sydney and Brisbane, and organised work stoppages in response to the company’s move to retrench 97 employees. The FWO wants the MUA to pay compensation to Hutchinson, arguing that the industrial action breached workplace laws and an enterprise agreement.

CORPORATES
MARITIME UNION OF AUSTRALIA, HUTCHISON PORTS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA

US, Britain building pressure to slash company taxes, expert says

roymorgansocial Leave a comment

Original article by Joanna Mather
The Australian Financial Review – Page: 5 : 9-Dec-16

The Australian Government may be under pressure to lower corporate taxes if the US and the UK reduce their tax rates to 15 per cent and other countries follow their example. Wolfgang Schoen, the director of the Max Planck Institute, says the world is entering a period of intense tax competition and attractive incentives will have to be offered to companies to attract their investment.

CORPORATES
MAX PLANCK INSTITUTE, AUSTRALIAN NATIONAL UNIVERSITY, PRICEWATERHOUSECOOPERS, AUSTRALIA. DEPT OF THE TREASURY

Crisis looms unless leaders grasp economic reforms

roymorgansocial Leave a comment

Original article by David Crowe
The Australian – Page: 1 & 4 : 9-Dec-16

The Council of Australian Governments meeting on 9 December 2016 coincides with the release of data showing that GDP growth fell by 0.5 per cent in the September quarter. Australian Institute of Company Directors chair Elizabeth Proust and former Business Council of Australia president Tony Shepherd have urged federal and state leaders to pursue measures aimed at boosting economic growth and investment. Former Victorian premier Jeff Kennett adds that the COAG meeting should focus on economic reform.

CORPORATES
COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, NESTLE AUSTRALIA LIMITED, BANK OF MELBOURNE LIMITED, ORIGIN ENERGY LIMITED – ASX ORG, THE AUSTRALIAN INDUSTRY GROUP

Labor blow to economy after GFC

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 4 : 9-Dec-16

Economist Tony Makin has concluded that the $A100bn fiscal stimulus package of former prime minister Kevin Rudd was in fact detrimental to the economy. Makin has reviewed the stimulus program on behalf of the Treasury, and noted that apart from wasting taxpayers’ funds on unnecessary expenditure, it hurt the local manufacturing industry. Makin also refutes suggestions that fiscal stimulus helped to protect the domestic economy from the full impact of the global financial crisis, arguing that factors such as a falling Australian dollar, low interest rates and demand for commodities played a greater role.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GRIFFITH UNIVERSITY, AUSTRALIAN LABOR PARTY

FMG can be ‘high growth, high yield’

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 18 : 9-Dec-16

Shares in Fortescue Metals Group have gained 23 per cent since Donald Trump won the US presidential election. The pure-play iron ore producer is now valued at around $A20bn, and the 33.32 per cent stake of founder and chairman Andrew Forrest is worth nearly $A7bn. Forrest has downplayed the potential for a trade war between the US and China, which would weigh on Fortescue’s share price. He has also rejected suggestions that mining companies cannot boast both high yields and high growth.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Robb joins fight over free-to-air licence fees

roymorgansocial Leave a comment

Original article by Jake Mitchell
The Australian – Page: 23 : 9-Dec-16

The Ten Network’s remuneration report was rejected by 17.06 per cent of votes cast at the 2016 AGM. Ten is lobbying the Federal Government for a further reduction in TV broadcasting licence fees, but chairman David Gordon concedes that these efforts have had limited effect to date. Ten director Andrew Robb, who stepped down as trade minister earlier in 2016, says both major political parties recognise that local networks pay higher licence fees than their overseas peers. He adds that the government’s fiscal problems may be delaying reform.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, LIBERAL PARTY OF AUSTRALIA, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS

ARM buy good for regions, says News

roymorgansocial Leave a comment

Original article by Darren Davidson, Daniel Palmer
The Australian – Page: 23 : 9-Dec-16

The Australian Competition & Consumer Commission has approved News Corporation’s $A36.6m deal to acquire Australian Regional Media from APN News & Media. News Corp will add 12 regionals newspapers and 60 community newspapers in Queensland and northeast New South Wales to its stable of print publications after the ACCC concluded that the deal would not significantly affect competition.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, APN NEWS AND MEDIA LIMITED – ASX APN, AUSTRALIAN REGIONAL MEDIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SEVEN WEST MEDIA LIMITED – ASX SWM