Author: roymorgansocial

Worst is behind us: Forrest calls bottom of cycle

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 13-Oct-16

Andrew Forrest has used a National Press Club speech to forecast an upturn in commodity prices, expressing his view that the sector is near the bottom of a major cycle. Forrest’s comments follow revelations that Japanese steel mills have settled coking coal price negotiations for the December 2016 quarter at $US200 per tonne. The Department of Industry, Innovation & Science recently forecast that the benchmark price for coal contracts will average $US99/tonne in 2016 and $US108 in 2017.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NATIONAL PRESS CLUB (AUSTRALIA), PEABODY ENERGY AUSTRALIA COAL PTY LTD, NIPPON STEEL AND SUMITOMO METAL CORPORATION, MOODY’S INVESTORS SERVICE INCORPORATED

ASX to face fresh competition

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Original article by Andrew White
The Australian – Page: 19 & 23 : 12-Oct-16

Stock exchange operator ASX Limited could potentially lose its monopoly on clearing and settlement services. Competition in the clearing of securities in particular is being scrutinised by the Australian Government as part of its broader competition law reforms. Several international players have already been granted licences to provide clearing services for over-the-counter derivatives, while share trades were opened to competition in 2011.

CORPORATES
ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, COUNCIL OF FINANCIAL REGULATORS, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, DIGITAL ASSET HOLDINGS, CME, LCH.CLEARNET SA

Labor tax cut block to hit 100,000 businesses

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Original article by Joe Kelly, Sarah Vogler
The Australian – Page: 1 & 2 : 12-Oct-16

The business sector says the Australian Labor Party should reconsider its commitment to restricting a tax cut to businesses with turnover of $A2m rather than the Federal Government’s proposed threshold of $A10m. Tony Greco of the Institute of Public Accountants notes that between 90,000 and 100,000 businesses that boast turnover of $A2m to $A10m have employees and are more likely to use tax relief to take on additional staff than businesses that are below the $A2m threshold, as many of them are sole proprietors.

CORPORATES
AUSTRALIAN LABOR PARTY, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED, MYOB GROUP LIMITED – ASX MYO, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CORELLA CONSTRUCTION

Australia: a budget-friendly, beach-holiday bonanza!

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Oct-16

The latest figures from the Roy Morgan Holiday Tracking Survey show that the average cost per night of a domestic holiday is $A151 per person. However, many of Australia’s famed coastal destinations come in well below that. Topping the list for affordability is World Heritage-listed Fraser Island in Queensland, which costs on average $A94 per person per night. In contrast, Port Douglas (averaging $245 per person per night) and the Whitsunday Islands ($A220) in Queensland are among the nation’s costliest coastal destinations. In New South Wales, the North Coast heads that state’s list for affordable coastal holiday spots, at an average of $A120 per person per night, while Lord Howe Island is more suited to higher-end travellers, at an average cost of $A341 per person per night.

CORPORATES
ROY MORGAN RESEARCH LIMITED

ANZ-Roy Morgan Australian Consumer Confidence edges down 0.3% to 117.5

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Oct-16

ANZ-Roy Morgan Australian Consumer Confidence fell by 0.3 per cent to 117.5 in the week ended 9 October 2016, following a 2.2 per cent fall last week. The report was mixed – indicators of current conditions fell slightly while forward-looking indicators posted gains. Consumers’ views towards their current finances fell by 0.6 per cent, while views towards future finances rose 0.7 per cent. Households’ views of the 12-month economic outlook fell by 1.5 per cent, while views of the five-year economic outlook rose by 0.7 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Investors embrace maiden 30-year government bond

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 1 & 8 : 12-Oct-16

There has been strong demand among international investors for the inaugural issuance of 30-year Australian government bonds. The bonds will mature in March 2047 and investors will receive a rate of 3.25 per cent. The yield on 10-year bonds is currently around 2.25 per cent. The volume and pricing of the 30-year bonds will be determined on 12 October 2016, but the issuance is believed to have attracted around $A7.5bn worth of bids from prospective investors.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT, JAMIESONCOOTEBONDS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA

Investors circle ailing companies in the valley of debt

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Original article by Vera Sprothen
The Australian – Page: 19 & 23 : 12-Oct-16

Preqin estimates that private debt fund managers had access to a record $US199bn ($A262bn) at the end of June 2016. Such companies are believed to be seeking to acquire distressed assets in Australia, including sectors such as resources, mining services, agricultural and housing. Distressed debt funds are said to be looking to buy debt-burdened companies or the debts of businesses than cannot meet their repayments. Oaktree Capital Management and Lone Star Funds are among the global debt fund managers that have established a presence in Australia.

CORPORATES
PREQIN LIMITED, OAKTREE CAPITAL MANAGEMENT LLC, LONE STAR FUNDS, BAIN CAPITAL CREDIT, SC LOWY FINANCIAL (HK) LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, ARRIUM LIMITED – ASX ARI, PEABODY ENERGY CORPORATION, RESERVE BANK OF AUSTRALIA, WELLS CAPITAL MANAGEMENT, ALLENS, McALEESE LIMITED – ASX MCS, BHP BILLITON LIMITED – ASX BHP, ROYAL DUTCH SHELL PLC

Oil bonanza hopes sink as BP abandons $1.4bn search

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Original article by Barry FitzGerald
The Australian – Page: 2 : 12-Oct-16

Greenpeace and the Australian Greens have welcomed BP’s decision to terminate its oil exploration program in the Great Australian Bight. However, BHP has attributed the decision to factors such as the downturn in the crude oil price rather than pressure from environmentalists. Matthew Doman of the Australian Petroleum Production & Exploration Association says development of the Great Australian Bight’s oil fields would boost investment and employment in South Australia.

CORPORATES
BP PLC, GREENPEACE, AUSTRALIAN GREENS, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, THE WILDERNESS SOCIETY, NICK XENOPHON TEAM, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Miners say water bill to cost jobs

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Original article by Michael McKenna
The Australian – Page: 2 : 12-Oct-16

New Hope Coal has warned that the Queensland Government’s proposed new water licence regime for existing resources projects will affect the timetable for the expansion of its Acland mine. MD Shane Stephan has told state MPs that the company will have to begin laying off workers at the mine in 2017 if the legislation is passed. The Queensland Resources Council has criticised the proposed legislation, which would subject resources projects to an additional environmental approval process in order to obtain a water licence.

CORPORATES
NEW HOPE COAL AUSTRALIA, NEW HOPE CORPORATION LIMITED – ASX NHC, QUEENSLAND RESOURCES COUNCIL LIMITED, ADANI MINING PTY LTD, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION

Diamond days as TV celebrates a jubilee

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Original article by Darren Davidson
The Australian – Page: 5 : 12-Oct-16

Industry executives and on-air presenters have joined politicians in marking the 60th anniversary of TV in Australia at Parliament House in Canberra. The event coincided with a decision by the Australian Labor Party’s caucus to support a proposed 25 per cent reduction in broadcasting licence fees for commercial TV and radio stations. Free TV Australia chairman Harold Mitchell notes that linear TV continues to be an important part of daily family life.

CORPORATES
AUSTRALIAN LABOR PARTY, FREE TV AUSTRALIA LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, OZTAM PTY LTD, NETFLIX INCORPORATED