Author: roymorgansocial

ABC Netflix deal angers rivals

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Original article by Jake Mitchell
The Australian – Page: 23 & 25 : 7-Nov-16

An ABC spokesman has defended the public broadcaster’s decision to produce a second series of drama "Glitch" in partnership with Netflix. The US-based subscription video-on-demand provider is believed to be contributing about 15 per cent of the production costs. Netflix will stream the series outside of the Australian market at the same time as it is broadcast by the ABC. The deal has been questioned by Seven West Media CEO Tim Worner and Nine Entertainment Company CEO Hugh Marks.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NETFLIX INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, NICK XENOPHON TEAM, FILM VICTORIA, NBC UNIVERSAL INCORPORATED

Leanne Donaldson quits as Agriculture Minister over driving offence

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Original article by Sarah Vogler, Sarah Elks
The Australian – Page: 9 : 4-Nov-16

Queensland Agriculture Minister Leanne Donaldson has quit following revelations that she had driven an unregistered vehicle. She also failed to pay council rates on her home for more than three years. Her debt of $A8,000 was paid by the Australian Labor Party. Donaldson resigned after a meeting with Premier Annastacia Palaszczuk and Deputy Premier Jackie Trad on 3 November 2016.

CORPORATES
QUEENSLAND. DEPT OF PRIMARY INDUSTRIES AND FISHERIES, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY

Domain slump only ‘temporary’

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 4-Nov-16

Fairfax Media CEO Greg Hywood warned shareholders at the company’s AGM on 3 November 2016 that Domain’s first half EBITDA will be lower when compared with the previous corresponding period. Hywood described the decline in EBITDA as temporary and stressed that the outlook for Domain is positive. Fairfax shares closed 4.3 per cent lower at $A0.775 on 4 November 2016.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, REA GROUP LIMITED – ASX REA, NEWS CORPORATION – ASX NWS

Jervois Mining and the great scandium battle

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Original article by Trevor Skykes
The Australian Financial Review – Page: 27 : 4-Nov-16

Jervois Mining’s three directors were paid $A580,000 in salaries and fees in 2015-16 which is a generous sum, considering that the board met only seven times. The directors’ remuneration contrasts with Jervois Mining’s negative cash flow and a pre-tax loss of $A941,000. Jervois Mining’s scandium deposit made the company attractive to Scandium Developments International which urges Jervois Mining’s shareholders to support its attempt to remove the board of the mining company.

CORPORATES
JERVOIS MINING LIMITED – ASX JRV, SCANDIUM DEVELOPMENTS INTERNATIONAL, AUZEX RESOURCES LIMITED, NORTON GOLD FIELDS LIMITED, BLOOM ENERGY, EXPLAURUM LIMITED – ASX EXU, PLATYPUS MINERALS LIMITED – ASX PLP, AUSTRALIAN MINES LIMITED – ASX AUZ, AUSTRALIA. TAKEOVERS PANEL

ASX slips for a third day, US worry lingers

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Original article by Jessica Sier
The Australian Financial Review – Page: 26 : 4-Nov-16

The S&P/ASX 200 index closed 0.1 per cent lower at 5,225.6 points on 3 November 2016. The All Ordinaries index declined 0.1 per cent to 5,306.5. Investors are concerned about the chaotic US presidential election. Shares in Warrnambool Cheese & Butter Factory rose 5.2 per cent to $A6.85 following the announcement of a profit of $A20.8 million in the six months to 30 September and a 10 per cent rise in revenue to $A325.9 million.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. FEDERAL RESERVE BOARD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BORAL LIMITED – ASX BLD, SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Expired Fonterra milk powder in China scam

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Original article by Angus Grigg
The Australian Financial Review – Page: 3 : 4-Nov-16

Chinese police have arrested 19 employees of the Jai Wai International Trading Company. The company was accused by the Shanghai Food & Drug Administration of selling 276 tonnes of expired Fonterra milk powder to other wholesalers. New Hope Group, whose subsidiary controls the trading company, distanced itself from the wholesaler saying that the sale of expired milk was a "personal crime" by the GM of the Jai Wai International, Liu Minggang.

CORPORATES
SHANGHAI FOOD AND DRUG ADMINISTRATION, JAI WAI INTERNATIONAL TRADING COMPANY, NEW HOPE GROUP, FONTERRA CO-OPERATIVE GROUP LIMITED, AUSTRALIAN FRESH MILK HOLDINGS PTY LTD

No Hazelwood, no energy plan

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 4-Nov-16

The closure of Hazelwood power station will have serious economic consequences for Victoria’s Latrobe Valley region as 750 workers will lose their jobs. Both state and Federal Governments have promised financial assistance, with the latter to provide $A43 million in aid. Victorian Premier Daniel Andrews insists that the decision of majority owner Engie to close Hazelwood has nothing to do with the state’s energy policy.

CORPORATES
ENGIE SA, AUSTRALIAN ENERGY COUNCIL, MINERALS COUNCIL OF AUSTRALIA, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

PC head hits out at slow pace of workplace reform

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 7 : 4-Nov-16

The Federal Government has been urged to pursue industrial relations reform more vigorously. Productivity Commission chairman Peter Harris stresses the need for "continuous reform." He favours the creation of an independent agency whose role would be to determine the minimum wage and award standards. Harris will share his views on this topic with those attending a labour law conference in Melbourne on 4 November 2016.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. FAIR WORK COMMISSION

ANZ shrinks to reduce rising risks

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Original article by James Eyers
The Australian Financial Review – Page: 1 : 4-Nov-16

The ANZ Bank has announced a fall of 18 per cent in cash profit to $A5.9 billion for 2015-16. Return on equity fell to 12.2 per cent, from 13.8 per cent a year ago. The cost to income ratio for the year declined to 44.8 per cent. ANZ CEO Shayne Elliott said the bank reduced its workforce by 3,600 jobs over the year to 30 September 2016. The stock rose 0.6 per cent to $A27.35 on 3 November 2016.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Satisfaction with motor vehicle insurers on the rise

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Nov-16

A Roy Morgan Single Source survey has found that satisfaction among motor vehicle insurance policy holders was 82.1% in the year to September 2016, up from 80.1% over the same period in 2013, and well ahead of a decade ago (74.1% in 2006). Most of the largest insurers improved their satisfaction scores, with 96.8% of policy holders being at least fairly likely to renew their insurance with their existing company. These are the latest findings from the Single Source survey of over 50,000 consumers pa which includes detailed coverage of over 40,000 motor vehicle insurance policies.

CORPORATES
ROY MORGAN RESEARCH LIMITED, QBE INSURANCE GROUP LIMITED – ASX QBE, SUNCORP GROUP LIMITED – ASX SUN, YOUI PTY LTD, COLES GROUP LIMITED, SHANNONS, RACT INSURANCE PTY LTD, COMMINSURE, BUDGET DIRECT INSURANCE AGENCY PTY LTD, AUSTRALIAN PENSIONERS INSURANCE AGENCY PTY LTD