Author: roymorgansocial

Australian real unemployment now 9.2% (1.188 million Australians) in October 2016

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Nov-16

In October a total of 2.454 million Australians, 19.1% of the workforce, were either unemployed (1,188,000) or under-employed (1,266,000). This is up 256,000 (up 1.7%) from October 2015. 1.188 million Australians (up 78,000 since October 2015) are unemployed and these real unemployment figures are substantially higher than the current ABS figure for September 2016 (5.6%). Australian real unemployment was 9.2% (up 0.4% in a year and up 0.7% in a month). The problem Australia faces can be seen when comparing full-time and part-time employment: Full-time employment is now 7,594,000 – down 83,000 from a year ago (7,677,000 in October 2015). In contrast, part-time employment has increased by 193,000 to 4,069,000 over the past year (an average of just over 16,000 per month).

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Private equity buyers focused on health, leisure, tech assets

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 16 : 14-Nov-16

A new report from law firm Minter Ellison notes that there has been an increase in deal-making activity by private equity firms. Sectors such as health, technology, leisure and child care are tipped to attract strong interest from buyout firms. However, Minter Ellison partner Glen Sauer says it is too soon to forecast the impact that Donald Trump’s presidency will have on the private equity sector’s investment in Australia.

CORPORATES
MINTER ELLISONJP MORGAN AUSTRALIA LIMITEDSAI GLOBAL LIMITED – ASX SAIBARING ASIA PRIVATE EQUITYGENESIS CARE PTY LTDMACQUARIE GROUP LIMITED – ASX MQGCHINA RESOURCES (HOLDINGS) LIMITEDKKR AND COMPANY LPCITIGROUP PTY LTDDEALOGIC (AUSTRALIA) PTY LTDDICK SMITH HOLDINGS LIMITEDSPOTLESS GROUP HOLDINGS LIMITED – ASX SPOESTIA HEALTH LIMITED – ASX EHEVITACO HOLDINGS LIMITED – ASX VITPATTIES FOODS LIMITEDSHANGHAI PHARMACEUTICAL HOLDING COMPANY LIMITEDPRIMAVERA CAPITAL GROUPPACIFIC EQUITY PARTNERS PTY LTD

Illegal ‘cash-in-hand’ payments in Australia’s black economy on the rise

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Original article by Nassim Khadem
The Age – Page: Online : 14-Nov-16

New data shows that the Australian Taxation Office’s telephone hotline received 5,573 complaints in 2015-16 from people who claimed that their employer had paid them in cash. This compares with 5,535 such complaints in 2014-15. The figures, which were acquired by the Tax Justice Network via Freedom of Information laws, also show that 2,813 workers complained about not being paid their full superannuation entitlement. Some 671 people also enquired about whether they are legally regarded as an employee or an independent contractor.

CORPORATES
AUSTRALIAN TAXATION OFFICETAX JUSTICE NETWORKAUSTRALIAN NATIONAL AUDIT OFFICE

Grylls tax could crimp BHP dividend

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 14-Nov-16

BHP Billiton executive Mike Henry has warned that a proposed increase in Western Australia’s iron ore levy would cost the resources giant about $A1.3bn in forgone capital expenditure and dividend payments. He adds that a significant fall in spending capacity would have implications beyond Western Australia. Amongst other things, increasing the levy may affect BHP’s plans for the South Flank iron ore project, which is slated to replace the Yandi mine when it is exhausted. Rio Tinto’s Tom Price project is also nearing the end of its mine life.

CORPORATES
BHP BILLITON LIMITED – ASX BHPRIO TINTO LIMITED – ASX RIONATIONAL PARTY OF AUSTRALIACITIC PACIFIC MINING MANAGEMENT PTY LTDVALE SABP PLC

Nine facing backlash over pay

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Original article by Jake Mitchell
The Australian – Page: 23 : 14-Nov-16

Nine Entertainment Company could incur a first "strike" against its remuneration report at the 2016 AGM. WIN Corporation owner Bruce Gordon controls 14.9 per cent of Nine’s shares, while Perpetual has a 14.2 per cent stake. WIN has lobbied the fund manager to vote against the report, although Institutional Shareholder Services and the Australian Shareholders’ ­Association have recommended that investors vote in favour of the report. However, the salary of Nine chairman Peter Costello is expected to attract scrutiny.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NECWIN CORPORATION PTY LTDBIRKETU PTY LTDPERPETUAL LIMITED – ASX PPTINSTITUTIONAL SHAREHOLDER SERVICES INCORPORATEDAUSTRALIAN SHAREHOLDERS’ ASSOCIATIONSOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXLFAIRFAX MEDIA LIMITED – ASX FXJ

Canberra stand-off puts reform on hold

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Original article by Darren Davidson
The Australian – Page: 23 & 25 : 14-Nov-16

Communications Minister Mitch Fifield has conceded that the Federal Government’s cross-media ownership bill may be delayed until early 2017 after the Australian Labor Party opposed scrapping the "two-out-of three"" rule. Fifield has downplayed Labor’s concerns about the impact on diversity of ownership, arguing that other cross-media rules will be retained. He also notes that media groups such as News Corp and Fairfax support the reforms, and says a further reduction in broadcasting licence fees could be possible.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTSAUSTRALIAN LABOR PARTYNEWS CORP AUSTRALIA PTY LTDNEWS CORPORATION – ASX NWSFAIRFAX MEDIA LIMITED – ASX FXJSEVEN WEST MEDIA LIMITED – ASX SWMTEN NETWORK HOLDINGS LIMITED – ASX TENFOXTEL MANAGEMENT PTY LTDCRICKET AUSTRALIAAUSTRALIAN FOOTBALL LEAGUENATIONAL RUGBY LEAGUEAUSTRALIAN COMPETITION AND CONSUMER COMMISSIONAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINETGOOGLE INCORPORATEDFACEBOOK INCORPORATEDKLEINER PERKINS CAUFIELD AND BYERS

APEC to deal US of trade pact

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Original article by David Uren
The Australian – Page: 2 : 14-Nov-16

The upcoming Asia-Pacific Economic Co-operation summit in Lima is expected to examine options for an alternative to the Trans-Pacific Partnership. Peruvian President Pedro Pablo Kuczynski has proposed establishing a new trade bloc for the Asia-Pacific region that includes both China and Russia but not the US. Australia’s Trade Minister Steven Ciobo has questioned whether the TPP would be viable in its current form if it did not include the US.

CORPORATES
ASIA-PACIFIC ECONOMIC CO-OPERATIONTRANS-PACIFIC PARTNERSHIPAUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADEAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINETUNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENTASSOCIATION OF SOUTH-EAST ASIAN NATIONS

Alarm over Shorten’s Trump-lite

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Original article by John KehoePrimrose RiordanJacob GreberEdmund Tadros
The Australian Financial Review – Page: 1 & 4 : 14-Nov-16

Australian Industry Group CEO Innes Willox has defended the 457 visa scheme, after Opposition Leader Bill Shorten argued that foreign workers are taking jobs that could be done by Australians. Willox says regulation of the 457 visa scheme has been tightened over the last decade and it is used to fill legitimate skills shortages. Meanwhile, the Obama administration will not seek to legislate the 12-nation Trans-Pacific Partnership during its final months in office. Trump opposes the TPP, and Australia will now shift its focus to trade deals in the Asia-Pacific region.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUPAUSTRALIAN LABOR PARTYTRANS-PACIFIC PARTNERSHIPAUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADEAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINETASSOCIATION OF SOUTH-EAST ASIAN NATIONSASIA SOCIETY POLICY INSTITUTEASIA-PACIFIC ECONOMIC CO-OPERATIONUNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENTCENTER FOR STRATEGIC AND INTERNATIONAL STUDIES

Future of $2.5b emissions fund doubtful

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Original article by Mark Ludlow
The Australian Financial Review – Page: 6 : 14-Nov-16

It is estimated that the Australian Government’s Emissions Reduction Fund currently holds about $A800m, but this is expected to be significantly depleted after the latest auction of carbon credits on 16 November 2016. The fund is likely to be exhausted when the next auction is held in April 2017, and it may not receive any more funding until the 2018-19 Budget. RepuTex has noted that the regulatory burden is deterring many companies from utilising the ERF. About 40 companies have registered for the latest auction.

CORPORATES
AUSTRALIA. EMISSIONS REDUCTION FUNDREPUTEX AUSTRALIA PACIFIC PTY LTDCLIMATE FRIENDLY PTY LTDAUSTRALIA. CLEAN ENERGY REGULATORAUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Trump win worth $10bn to budget

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Original article by David Uren
The Australian – Page: 1 & 2 : 14-Nov-16

The prices of iron ore, coking coal and copper have rallied in the wake of Donald Trump’s US presidential election victory. It is estimated that the Federal Government’s Budget bottom line would be boosted by about $A10bn if the rise in the iron ore price is sustained for the next two years. Shares in BHP Billiton and Rio Tinto have also rallied, while Resources Minister Matt Canavan notes that Trump is highly supportive of the coal industry.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCEBHP BILLITON LIMITED – ASX BHPRIO TINTO LIMITED – ASX RIOAUSTRALIAN LABOR PARTYWESTPAC BANKING CORPORATION – ASX WBC