Author: roymorgansocial

BHP warns on made in Australia

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 31-Jul-24

The federal government aims to pass its Future Made in Australia bill when parliament resumes in August. However, BHP has used its submission to a Senate inquiry to warn of the risks associated with Labor’s signature Future Made in Australia policy, which amongst other things is aimed at attracting increasd investment in the nation’s critical minerals sector. BHP notes that many countries have large deposits of critical minerals, and are competing for private sector investment in this sector. BHP adds that factors such as Australia’s workplace laws, an uncompetitive tax system and proposed environmental laws could undermine the policy.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Rex’s expansion push could leave regional travellers paying the price

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Original article by Sezen Bakan
The New Daily – Page: Online : 31-Jul-24

Rex Airlines has advised that EY has been appointed as voluntary administrators of the Regional Express listed entity and a number of subsidiaries. Rex also announced that its fleet of Boeing 737s have been grounded and all flights on capital city routes have been cancelled; however, flights to regional destinations will continue to be serviced by its fleet of Saab 340s. Professor Pierre Benckendorff from the University of Queensland says airfares on capital city routes are unlikely to be affected if Rex is liquidated; he adds that airfares on regional routes could rise sharply due to lack of competition, and some routes may be discontinued.

CORPORATES
REX AIRLINES PTY LTD, REGIONAL EXPRESS HOLDINGS LIMITED – ASX REX, ERNST AND YOUNG, UNIVERSITY OF QUEENSLAND

Labor vows to force banks to compensate Australians tricked out of money by scammers

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Original article by Karen Middleton
The Guardian Australia – Page: Online : 31-Jul-24

The federal government intends to pursue further reforms aimed at protecting consumers from scams. Assistant treasurer Stephen Jones will note in a National Press Club on Wednesday that the government’s crackdown helped to reduce losses from scams to $2.74bn in 2023, compared with $3bn in 2022. Jones will add that losses due to social media-based scams rose by 17 per cent in 2023, and he will argue that the ‘social licence’ of digital platforms requires them to do more to protect their users from fraudsters. Jones will also flag reforms that will require banks to compensate customers for losses incurred due to scams.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL PRESS CLUB (AUSTRALIA)

West highly vulnerable to China on critical minerals

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Original article by Cameron England
The Australian – Page: 18 : 31-Jul-24

A new report notes that while rare earth elements are crucial to the global energy transition, countries such as Australia are vulnerable due to their reliance on China for critical minerals. The report from the Henry Jackson Society, Freshwater Strategy and the Centre for Resilient Society notes that China’s willingness to ignore the environmental harms associated with the production of rare earth elements has contributed to the nation’s domination of global supply. They warn that this reliance on China means that Australia and its Five Eyes partners risk running out of critical minerals in the event of a price spike or armed conflict.

CORPORATES
HENRY JACKSON SOCIETY, FRESHWATER STRATEGY, CENTRE FOR RESILIENT SOCIETY

Roy Morgan wins three-year contract to deliver international tourism statistics for Austrade

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Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jul-24

From 2025, Roy Morgan will provide Austrade with the world’s best practice survey methodology, big data integration and modelling techniques to deliver accurate international tourism statistics. This is in addition to the contract to deliver domestic tourism statistics awarded to Roy Morgan earlier this year. Roy Morgan’s expertise and experience in measuring travel and tourism behaviour in depth, will provide Austrade – and its stakeholders in government and industry – with accurate tourism statistics as well as new insights and understanding of Australia’s tourism industry. Roy Morgan has a deep understanding and appreciation of the travel and tourism industry – estimated to be worth in excess of $160 billion annually – and a proven track record working with Austrade and its stakeholders. Collected via Roy Morgan’s highly trained and proficient interviewers at key international entry points around Australia, these critical tourism metrics will provide tourism organisations with data that they can rely upon and trust.

CORPORATES
ROY MORGAN LIMITED, AUSTRADE

ANZ-Roy Morgan Inflation Expectations up marginally in late July at 5.0% – from 4.9% for the month of June

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Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jul-24

The latest weekly ANZ-Roy Morgan Inflation Expectations are 5.0% for the week of July 22-28. This figure is in line with the average so far this year of 5.0%, and up 0.1% points from the month of June. A look at monthly Inflation Expectations for June 2024 shows the measure at 4.9% for the month – unchanged on a month earlier and the equal lowest monthly figure so far this year. Looking back over the first six months of the year, weekly Inflation Expectations have moved in a narrow band of 4.8% – 5.3% and averaged 5.0%. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source, which has interviewed an average of around 5,100 Australians aged 14+ per month over the last decade, and includes interviews with 6,033 Australians aged 14+ in June 2024.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence eases 1.3pts to 83.1 in late July due to concerns about the Australian economy after biggest weekly jump in over three years

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Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jul-24

ANZ-Roy Morgan Consumer Confidence fell 1.3pts to 83.1 in the week to 28 July; the index has now spent a record 78 straight weeks below the mark of 85. However, Consumer Confidence is now 4.7 points above the same week a year ago (78.4), and 1.3 points above the 2024 weekly average of 81.8. A look at Consumer Confidence by State shows that there were decreases in most states, including New South Wales, Queensland, and South Australia; the index was unchanged in Victoria and went against the trend with an increase in Western Australia. Now 21% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 49% (unchanged) say their families are ‘worse off’. Looking forward, 32% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (down 1ppt) expect to be ‘worse off’. Now 9% (down 3ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 35% (up 2ppts) expect ‘bad times’. Meanwhile, 23% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 48% (up 1ppt) say now is a ‘bad time to buy’.

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

Nine Entertainment CEO returns to office after Olympics trip as five-day strike comes to end

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 31-Jul-24

The Media, Entertainment & Arts Alliance has advised that journalists from Nine Entertainment’s publishing division will return to work at 11am on Wednesday. The end of the five-day industrial action by about 500 journalists will coincide with the return of Nine’s CEO Mike Sneesby, after a week in Paris where he entertained corporate clients and attracted scrutiny for participating in the Olympic torch relay amid the turmoil in the company’s newsrooms. Michelle Rae from the MEAA says Nine’s management has committed to resuming negotiations with journalists when they return to work.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE

Traders gird for dangerous 48 hours

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Original article by Sarah Jones
The Australian Financial Review – Page: 27 : 31-Jul-24

Bond market pricing suggests that there is about a 20 per cent chance that the Reserve Bank of Australia will increase the cash rate in August. The chances of a rate rise in September are now 31 per cent. Quarterly CPI data to be released on Wednesday is likely to be a key factor in the RBA’s monetary policy decision; the central bank’s preferred measure of trimmed mean inflation is tipped to ease from one per cent to 0.9 per cent. Investors will also be keenly awaiting the outcome of the US Federal Reserve’s two-day policy meeting, and signs that rate cuts are on its agenda in coming months.

CORPORATES
RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD

CFMEU calls in corruption buster for conduct inquiry

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Original article by Damon Johnston
The Australian – Page: 6 : 31-Jul-24

The CFMEU’s national secretary Zach Smith says the union has appointed Geoffrey Watson, SC to head an independent investigation into its alleged links to organised crime. Watson is a former counsellor assisting the NSW Independent Commission Against Corruption, and Smith says his review will inform the future actions of the union. Smith adds that much of the recent media reporting with regard to the CFMEU has been "misinformed"; however, he adds that some of the issues that have been raised must be taken seriously and they will be addressed "head on".

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, NEW SOUTH WALES. INDEPENDENT COMMISSION AGAINST CORRUPTION