Author: roymorgansocial

NSW MPs push to ban pokies on Anzac Day

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Original article by Alexandra Smith
The Sydney Morning Herald – Page: Online : 13-Aug-24

The NSW government recently announced that it will seek to ban all large retailers from trading on Anzac Day. Alex Greenwich, the independent MP for Sydney, contends that the ban should be expanded to include poker machines in pubs, clubs and Sydney’s casinos; he says Anzac Day is a solemn day of commemoration and reflection, and the government should force ‘pokies’ to be turned off for the day if it is serious about honouring the state’s war veterans. Greenwich says his proposed legislative amendment – which would not apply to the Anzac Day tradition of playing two-up – has the support of other crossbenchers.

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Slow approvals a barrier to next Australian mining boom: report

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Original article by Tom Rabe
The Australian Financial Review – Page: 7 : 13-Aug-24

A Climate Energy Finance report has stated that Australia has the potential to double its iron export value to $250 billion by producing green iron, but that its potential is being hampered by slow environmental approval processes. The report urges Australia to follow the lead of Europe and introduce "overriding public interest principles" into environmental approvals processes, stating this would help to fast track the renewable energy infrastructure that is viewed as critical to the development of a green steel industry in Western Australia’s north-west.

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CLIMATE ENERGY FINANCE

Coalition eyes Labor’s IR laws to woo the west

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 13-Aug-24

The Coalition is developing a specific set of policies for Western Australia, where it lost four seats at the last federal election. They include winding back some of the federal government’s industrial relations laws that mining companies contend are hurting productivity, along with rethinking its initial opposition to the federal government’s proposal to provide production tax credits for extracting and processing critical minerals. The Coalition had dubbed the proposal as "tax cuts for billionaires", but that did not go down well with smaller mining companies who are trying to compete with cheaper Chinese-backed ventures overseas

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Greens, Libs to play tough on CFMEU

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Original article by Phillip Coorey, David Marin-Guzman
The Australian Financial Review – Page: 1 & 6 : 13-Aug-24

The Coalition contends that the federal government’s bill to appoint administrators to the CFMEU’s state construction divisions is "weak" and should be referred to a Senate committee. The Greens will in turn decide their position regarding the proposed legislation on Tuesday, and expressed concern that it overrides the court process. Workplace Relations Minister Murray Watt argues that forcing the bill to be scrutinised by a Senate inquiry would demonstrate that the Coalition is not serious about addressing the "criminality, bullying and thuggery" within the CFMEU. The Coalition has committed to deregistering the union if it wins the next election, although Watt believes that administration is a more practical option.

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CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS

Roy Morgan Poll: ALP and Coalition are tied on 50% each two-party preferred in mid-August

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Aug-24

If a Federal Election were held now the result would be ‘too close to call’ with the ALP on 50% (down 1.5%) tied with the Coalition on 50% (up 1.5%) on a two-party preferred basis, the latest Roy Morgan survey finds. Based on these results the ALP or Coalition would require the support of minor parties and independents to form a minority government. The result again highlights the importance of preference flows to determine the overall two-party preferred result. The Coalition primary vote increased 1% to 38%, ALP primary support was down 1% to 29.5%, support for the Greens increased 2% to 14% and support for One Nation was down 0.5% to 5%. Smaller parties and independents lost support this week. Support for Other Parties dropped 1% to 4% and support for Independents was down 0.5% to 9.5%.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Australia’s golden Games: pinnacle or new base for nation punching above its weight?

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Original article by Kieran Pender
The Guardian Australia – Page: Online : 13-Aug-24

Australia won a record 18 gold medals at the Paris Olympic Games, and the nation’s overall medal tally of 53 was topped only by the Sydney Olympics in 2000. Meanwhile, Australia ranked fourth on the Paris medal table, matching the Olympic team’s performance in Melbourne in 1956. Australia has also traditionally performed best at home Olympic Games, with Brisbane set to host the world’s biggest sporting event in 2032. An analysis of Summer Olympics results from 1952 to 2012 shows that on average, the host nation has increased their gold medal count by 10 and their overall medal count by 20. The federal government has already increased its Olympic funding ahead of the Brisbane Games.

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Four Corners investigation alleges culture of fear, misogyny, bullying at Seven Network

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Original article by Calum Jaspan
The Age – Page: Online : 13-Aug-24

Former Seven Network regional reporter Olivia Babb has told the ABC’s ‘Four Corners’ program that Seven is "one of the most degrading, soul-crushing places you can work". Babb is one of a number of current and former Seven staff who took part in the program, which alleged that the television network has a culture of bullying, harassment and misogynistic treatment. Employment lawyer Josh Bornstein told the program that there had been a noticeable pattern of hostility towards women at the network. Babb said that she was paid so little that she and other colleagues were often "one or two paychecks from homelessness".

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SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION

Why this could be Murdoch’s last chance to sell Foxtel

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Original article by Elizabeth Knight
The Sydney Morning Herald – Page: Online : 13-Aug-24

Foxtel had been estimated to be worth between $1.2bn and $2bn when an IPO was being considered in 2021. However, an IPO now appears to be highly unlikely, and selling Foxtel may be the best option for News Corp and Telstra. Foxtel’s traditional pay-TV business now boasts about 1.2 million subscribers, well below the peak of 2.9 million in 2015; retaining as many of these customers as possible could be crucial to getting a decent price for Foxtel, given that they pay an average of $90 per month. Foxtel’s own streaming services Kayo and Binge have much lower monthly revenue per customer, and their subscriber growth is also slowing amid growing competition in the streaming sector.

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FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, KAYO SPORTS, BINGE

Steel carnage to sink iron ore below $US90

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Original article by Alex Gluyas
The Australian Financial Review – Page: 29 : 13-Aug-24

The iron ore price is now about 30 per cent below its January peak, although the steel input is still trading at around $US100 per tonne. However, Robert Rennie of Westpac contends that problems within the steel industry means that the iron ore price should be around the mid-to late-$US80 level at present. He says it is only a matter of time before the "absolute carnage" in the steel industry is reflected in the iron ore price. Chinese steel mills’ margins have fallen sharply, and a MySteel survey has found that just five per cent of them were profitable last week. Further production cuts may be looming, which would dampen demand for iron ore.

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WESTPAC BANKING CORPORATION – ASX WBC, MYSTEEL.COM LIMITED

AUKUS get-out clause for US, UK

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Original article by Ben Packham
The Australian – Page: 1 & 6 : 13-Aug-24

Documents tabled in federal parliament on Monday have revealed new details of the AUKUS defence alliance. The documents, which include a revised AUKUS agreement, show that the US and the UK will be able to withdraw from the defence pact with only one years’ notice if the deal to provide Australia with nuclear-powered submarines is deemed to be an ‘unreasonable risk’ to their own military requirements. Meanwhile, Australia has agreed to indemnify its alliance partners for any liability, costs or injury resulting from the AUKUS program. International law expert Don Rothwell notes that the documents do not outline just how much the alliance will cost Australia.

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