Author: roymorgansocial

Spike in full-time work puts jobs market doom in shade

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 18-Nov-16

Official data shows that Australia gained a net 98,000 jobs in October 2016. The creation of 41,500 full-time jobs has offset a 31,700 fall in part-time positions during the month. The nation’s unemployment rate was unchanged at 5.6 per cent, while there was an 0.9 per cent increase in the number of hours worked. The data also shows that 133,000 part-time jobs have been created so far in 2016, while the economy has shed 89,000 full-time jobs.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, RESERVE BANK OF AUSTRALIA, COMMONWEALTH SECURITIES LIMITED, HSBC AUSTRALIA HOLDINGS PTY LTD

Employers fear deals at risk with federal code

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Original article by Ewin Hannan
The Australian – Page: 5 : 17-Nov-16

The Federal Government’s proposed building code will apply retrospectively to enterprise agreements signed since April 2014. Employers want the code to apply only to agreements struck after the code takes effect. Employment Minister Michaelia Cash has stressed that anxiety about the code is not warranted as it would apply only to new government contracts. The code will be introduced if the Australian Building & Construction Commission legislation is passed by Parliament.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, THE AUSTRALIAN INDUSTRY GROUP

It’s official: golf is good for you!

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 17-Nov-16

A Roy Morgan Single Source survey has found that 9.3% of Australians aged 18+ (just over 1.7 million) play golf either regularly or occasionally, putting it among our 10 most popular forms of exercise. The survey also shows that between July 2015 and June 2016, 25.8% of Australian adults reported experiencing stress at some point in the preceding 12 months; 18.3% reported having anxiety; 15.1% had depression; and 5.4% suffered at least one panic attack. Among people who play golf, these figures fell to 22.5% for stress, 11.9% for anxiety, 8.7% for depression and 3.0% for panic attacks. The data also reveals that even watching golf on TV appears to have a positive effect on the viewer’s mental health, with golf viewers reporting below-average incidences of anxiety, depression, panic attacks and stress.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Volatility hits fund earnings

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Original article by Michael Roddan
The Australian – Page: 23 : 17-Nov-16

Data from Mercer shows that Australia’s median shares fund manager achieved a return of negative 3.1 per cent between August and October 2016. SuperRatings’ figures show that the median superannuation fund boasted a return of minus 0.7 per cent for the period, including a one per cent loss in October. Factors such as the outlook of inflation and uncertainty over the timing of a rate rise in the US weighed on financial markets in October.

CORPORATES
MERCER INVESTMENTS PTY LTD, SUPERRATINGS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD

PM offers changes to secure IR bills

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Original article by David Crowe
The Australian – Page: 5 : 17-Nov-16

The Australian Government is willing to make amendments to its industrial relations bills in order to gain the Senate’s support when Parliament resumes. The Government will push ahead with the bill to establish a Registered Organisations Commission on 21 November 2016, and the proposed amendments are believed to include protection for whistleblowers and a stricter audit regime. The bill to reinstate the Australian Building & Construction Commission will be debated on 22 November. The bills will require the support of at least eight cross-benchers.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, FAMILY FIRST PARTY AUSTRALIA LIMITED, NICK XENOPHON TEAM, ONE NATION PARTY, LIBERAL DEMOCRATIC PARTY

Wesfarmers explores $2b coal mine sales

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 17-Nov-16

Australian-listed conglomerate Wesfarmers has advised that it is considering a range of options for its coal assets, including divestment. It has called for expressions of interest from potential buyers of the Curragh mine, as well as its 40 per cent stake in the Bengalla mine. However, Wesfarmers has stressed that a deal may not eventuate. The sale price of Curragh is likely to be boosted after the recent approval of an expansion plan, which will extend its mine life until around 2038.

CORPORATES
WESFARMERS LIMITED – ASX WES, NEW HOPE CORPORATION LIMITED – ASX NHC, BHP BILLITON LIMITED – ASX BHP, APOLLO GLOBAL MANAGEMENT LLC, ANGLO AMERICAN PLC, PEMBROKE RESOURCES PTY LTD, DENHAM CAPITAL MANAGEMENT LP, JELLINBAH GROUP, MACH ENERGY, SALIM GROUP, RIO TINTO LIMITED – ASX RIO, MITSUI AND COMPANY LIMITED, TAIWAN POWER COMPANY, UBS HOLDINGS PTY LTD, BLOOMBERG LP

‘Too far, too fast’ for iron ore upswing

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Original article by Jessica Sier
The Australian Financial Review – Page: 33 : 17-Nov-16

Katana Asset Management’s Romano Sala Tenna says the iron ore price has risen too quickly, and he notes that global supply is likely to increase if the price remains elevated. The pullback in the price of the steel input in mid-November 2016 has followed a rally in the wake of Donald Trump’s presidential election win. China’s Ministry of Industry & Information Technology recently forecast that the nation’s annual production of crude steel will fall to between 750 million and 800 million tonnes by 2020.

CORPORATES
KATANA ASSET MANAGEMENT LIMITED, CHINA. MINISTRY OF INDUSTRY AND INFORMATION TECHNOLOGY, UBS HOLDINGS PTY LTD, CLARKSONS PLATOU SECURITIES, BLOOMBERG WORLD IRON AND STEEL INDEX, REPUBLICAN PARTY (UNITED STATES)

Guthrie defends Netflix, ABC deal

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 17-Nov-16

ABC MD Michelle Guthrie has defended the public broadcaster’s deal to produce a second series of drama "Glitch" in partnership with Netflix. She has told the Screen Forever conference that ABC viewers now expect drama shows to have the same production values as those produced by subscription video-on-demand services, and notes that producing such content is becoming increasingly expensive. The co-production deal will give Netflix global streaming rights to "Glitch".

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NETFLIX INCORPORATED, MATCHBOX PICTURES PTY LTD, FILM VICTORIA, AMC NETWORKS, SUNDANCE TV

Shares to feel the jolt as ‘bondcano’ fires up

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Original article by David Rogers
The Australian – Page: 31 : 17-Nov-16

The yield on 10-year Australian government bonds has retreated from a high of 2.74 per cent in the wake of Donald Trump’s presidential election win. The so-called "bondcano" has seen the yield on 10-year bonds rise by 51 per cent since August 2016, and Credit Suisse estimates that the recent sell-off is the 13th biggest since 1970. Hasan Tevfik of Credit Suisse expects bond yields to keep rising over the long-term, and identifies stocks such as Sydney Airport, APA Group and Healthscope as those most at risk from higher yields.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, SYDNEY AIRPORT – ASX SYD, APA GROUP – ASX APA, HEALTHSCOPE LIMITED – ASX HSO, ASX LIMITED – ASX ASX, BWP TRUST – ASX BWP, TELSTRA CORPORATION LIMITED – ASX TLS, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, TRANSURBAN GROUP LIMITED – ASX TCL, STANDARD AND POOR’S ASX 200 INDEX, CROWN RESORTS LIMITED – ASX CWN, AUSNET SERVICES LIMITED – ASX AST, VICINITY CENTRES – ASX VCX, CHARTER HALL GROUP – ASX CHC, QANTAS AIRWAYS LIMITED – ASX QAN, NUFARM LIMITED – ASX NUF, MYER HOLDINGS LIMITED – ASX MYR, FORTESCUE METALS GROUP LIMITED – ASX FMG, LEND LEASE GROUP LIMITED – ASX LLC

Trump tax cuts must be matched

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Original article by Jacob Greber, Phillip Coorey, Misa Han
The Australian Financial Review – Page: 1 & 6 : 17-Nov-16

Federal Treasurer Scott Morrison says official data showing that annual wages growth fell below two per cent in the September 2016 quarter demonstrates the need for company tax reform. He adds that Australia will become less competitive if it does not cut the tax rate and US president-elect Donald Trump reduces company taxes to 15 per cent. Business Council of Australia CEO Jennifer Westacott will also highlight the need for corporate tax reform at the organisation’s annual dinner on 17 November.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BUREAU OF STATISTICS, LIBERAL DEMOCRATIC PARTY, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, RESERVE BANK OF AUSTRALIA