Author: roymorgansocial

Foxtel chief on mission to win over subscribers

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Original article by Darren Davidson
The Australian – Page: 24 : 12-Aug-16

Australian pay-TV provider Foxtel has reported that its subscriber base grew by 4.7 per cent in 2015-16 to 2.9 million, while its customer churn rate rose by 1.3 per cent to 12.2 per cent. Foxtel’s EBITDA was 2.2 per cent lower at $A880m, but revenue rose by 4.6 per cent to $A3.3bn. CEO Peter Tonagh says Foxtel’s marketing will emphasise that the company streams video on demand to any device rather than merely providing a linear TV service. He adds that it boasts more of the biggest box-office hits from 2015 than Netflix.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NETFLIX INCORPORATED, SINGTEL OPTUS PTY LTD, NATIONAL RUGBY LEAGUE

House prices to keep increasing says Symond

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 33 : 11-Aug-16

Aussie Home Loans chairman John Symond says the residential property market is "still healthy." He believes that house prices may rise by 10 to 15 per cent for the next three years. Prospects for detached housing bought by owner-occupiers on Australia’s east coast are quite solid, but apartments will underperform because of oversupply, which is particularly evident in western and inner-south suburbs of Sydney and Docklands in Melbourne.

CORPORATES
AUSSIE HOME LOANS LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Resources on the rebound, but is it time to get on board?

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Original article by Philip Baker
The Australian Financial Review – Page: 26 : 11-Aug-16

A rise in the spot prices of some commodities may signal a recovery in the resources sector. Investors are optimistic. The share prices of Australian-listed mining companies have risen 25 per cent since the beginning of 2016. Fortescue Metals Group’s stellar performance is particularly impressive. The stock has risen from $A1.44 in January to $A4.50 on 9 August.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, BELL POTTER SECURITIES LIMITED

Fallout over meltdown tests Turnbull government

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Original article by Laura Tingle
The Australian Financial Review – Page: 3 : 11-Aug-16

The causes and implications of the crash of the Australian Bureau of Statistics’ census website on 9 August 2016 will be investigated by the Australian Signals Directorate. Prime Minister Malcolm Turnbull has assured Australians that the crash did not compromise the security of census data. For Opposition Leader Bill Shorten, it was "the worst-run census in Australian history."

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN SIGNALS DIRECTORATE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, IBM AUSTRALIA LIMITED, REVOLUTION IT PTY LTD

Stevens: we’re kidding ourselves

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 11-Aug-16

Glenn Stevens has warned that more investment is needed to stimulate economic growth. The departing governor of the Reserve Bank of Australia (RBA) said on 10 August 2016 that monetary policy cannot revive economic growth on its own, and fiscal reforms are also needed. It is also necessary to curb demand for debt among companies and households. Stevens will leave the RBA in September, and will be succeeded by deputy governor Philip Lowe.

CORPORATES
RESERVE BANK OF AUSTRALIA

Newmont to mull Barrick Super Pit deal

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 11-Aug-16

US-based Newmont Mining Corporation has indicated that it could seek to gain full ownership of the Super Pit gold mine in Western Australia. Barrick Gold recently flagged the possible sale of its 50 per cent stake in the massive mine. Newmont CEO Gary Goldberg has stressed that organic growth rather than acquisitions remains the big miner’s primary focus, but adds that its knowledge of the Super Pit could make it an exception. He notes that Newmont acquired the Cripple Creek & Victor mine in 2015 at a time when the gold price was lower.

CORPORATES
NEWMONT MINING CORPORATION, BARRICK GOLD CORPORATION, ANGLOGOLD ASHANTI LIMITED – ASX AGG, DIGGERS AND DEALERS FORUM, CREDIT SUISSE (AUSTRALIA) LIMITED

BHP Billiton widens tougher payment terms across Pilbara

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Original article by Julie-anne Sprague, Tess Ingram
The Australian Financial Review – Page: 16 : 11-Aug-16

Suppliers to BHP Billiton’s iron ore operations in Western Australia have criticised its move to increase payment terms for more suppliers from 30 days to 60 days and require them to use a third-party payment vendor. BHP had already extended the payment terms of many suppliers in late 2015, and the latest move is expected to affect a relatively small proportion of companies that supply products and services to BHP Billiton Iron Ore.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, BHP BILLITON IRON ORE PTY LTD, QUANDREM, RIO TINTO LIMITED – ASX RIO

Contractors line up for Rio project

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Original article by Peter Ker, Tess Ingram
The Australian Financial Review – Page: 16 : 11-Aug-16

Rio Tinto has issued the first tender for the last phase of its Silvergrass iron ore mine, which is slated to cost $US338m ($A438m). The resources giant is seeking a contractor to supply crushing machinery, a conveyor belt and electric power to the project. Rio commenced the initial phase of the Silvergrass mine in 2015, making extensive use of construction contractors. It is expected to do so with the final phase of the mine, which is expected to produce about 20 millions of iron ore each year when it reaches full capacity.

CORPORATES
RIO TINTO LIMITED – ASX RIO, NRW HOLDINGS LIMITED – ASX NWH

Hywood goes it alone on digital subscription

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Original article by Jake Mitchell
The Australian – Page: 23 : 11-Aug-16

Fairfax Media will no longer quote the Audited Media Association of Australia’s data on digital newspaper subscriptions in its financial reports, after questioning the accuracy of the figures. The media group will instead publish its own digital subscription data in ASX releases. The AMA has reported that subscriptions to the digital edition of "The Age" fell by 6.3 per cent in the March 2016 quarter and 3.4 per cent in the year to March, while "Sydney Morning Herald" digital subscriptions grew by 0.9 per cent in the year to March.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUDITED MEDIA ASSOCIATION OF AUSTRALIA LIMITED

CBA to drive returns as results soften

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Original article by Michael Bennet
The Australian – Page: 21 & 25 : 11-Aug-16

The Commonwealth Bank of Australia has posted a 2015-16 cash profit of $A9.45bn. Despite being a record result, it was just three per cent higher than previously, due to a disappointing performance across the group’s key businesses in the second half. CBA’s return on equity fell to 16.5 per cent and its net interest margin fell to 2.07 per cent. CEO Ian Narev says banks must take into account the needs of borrowers, savers and shareholders with regard to setting interest rates. Shareholders will receive a full-year dividend of $A4.20 per share.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WAVESTONE CAPITAL PTY LTD, RESERVE BANK OF AUSTRALIA, UBS HOLDINGS PTY LTD, WATERMARK FUNDS MANAGEMENT PTY LTD, BELL POTTER SECURITIES LIMITED