Author: roymorgansocial

Guthrie’s ground rules: an ABC of inclusiveness

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Original article by Darren Davidson
The Australian – Page: 1 & 6 : 28-Jul-16

ABC MD Michelle Guthrie will be one of the speakers at the Creative Country conference in Melbourne on 28 July 2016. Guthrie will outline the need for the public broadcaster to extend its multi-platform audience reach beyond its current level of about 71 per cent. She will also outline plans to increase the ABC’s diversity in terms of both staff and content, and significantly increase the proportion of its annual budget that is allocated to content production.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, GOOGLE INCORPORATED, STAR TV, BUSINESS COUNCIL OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

ANZ-Roy Morgan Australian Consumer Confidence ticks up to 115.5 (up 0.6pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 27-Jul-16

ANZ-Roy Morgan Australian Consumer Confidence has risen by 0.5 per cent to 115.5 in the week ending 24 July 2016. Lower financial market volatility and buoyant equity markets are likely the main factors behind the improvement. Consumers’ views of their current finances fell two per cent, but households’ views of the economic outlook in the next 12 months rose by 1.5 per cent.

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

ACCC raids CFMEU in probe into price-fixing

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 27-Jul-16

The militant Construction, Forestry, Mining & Energy Union is under scrutiny for potential cartel activity. Its office in Canberra was raided by the Australian Competition & Consumer Commission and the Australian Federal Police on 26 July 2016, in response to allegations of price-fixing that were raised during hearings of the Royal Commission into Trade Union Governance & Corruption. Union boss Dave Noonan has denied that the CFMEU or its officials engaged in such practices.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION

PM pressed to broaden juvenile abuse inquiry

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Original article by Amos Aikman
The Australian – Page: 1 & 6 : 27-Jul-16

Federal Attorney-General George Brandis says the royal commission into the juvenile justice system will focus on the Northern Territory, although some indigenous leaders argue that its scope should be nationwide. Meanwhile, Chief Minister Adam Giles has sacked the Northern Territory’s corrections minister in the wake of the "Four Corners" expose on the brutal practices used to restrain inmates at the Don Dale detention centre. There have also been demands for Giles to resign or for his government to be sacked by Prime Minister Malcolm Turnbull.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NORTHERN TERRITORY. DEPT OF THE CHIEF MINISTER, NORTHERN TERRITORY. DEPT OF JUSTICE, AUSTRALIAN HUMAN RIGHTS COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF HEALTH, COUNTRY LIBERAL PARTY

HR managers liable for employer’s actions

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 27-Jul-16

Fair Work Ombudsman Natalie James will address a human resources managers’ forum on 27 July 2016. She will warn that failure to comply with federal industrial relations laws has become entrenched in some sectors of the labour market. James will also stress that HR managers could potentially be held personally liable for any breaches of workplace laws that are condoned by their employer.

CORPORATES
AUSTRALIA. FAIR WORK OMBUDSMAN

Northern Star improves dividend after annual profit climbs 65pc

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 27-Jul-16

Australian-listed Northern Star Resources has reported a 2015-16 net profit of $A151.4m, which is 65 per cent higher than previously. Most analysts had expected the gold producer to book a profit of about $A166m, while its full-year dividend of $A0.07 per share was also lower than some analysts had forecast. Northern Star Resources has also reported that its all-in sustaining cost of production was $US780 an ounce in 2015-16.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWCREST MINING LIMITED – ASX NCM, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DEUTSCHE BANK AG, RBC CAPITAL MARKETS

ADM beats a retreat on GrainCorp

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Original article by Sue Neales, Gretchen Friemann
The Australian – Page: 19 & 23 : 27-Jul-16

There has been a lukewarm response to the offmarket sale of Archer Daniels Midland’s 19.85 per cent stake in Australian-listed GrainCorp. ADM failed to attract interest in the shareholding when it was offered via Lazard on 26 July 2016. The Federal Government blocked ADM’s takeover bid for GrainCorp in late 2013, ruling that the deal was not in the national interest. ADM’s move to divest its stake may have been prompted by the Government’s continued tough stance on foreign ownership of agricultural assets, particularly given the National Party’s increased influence in cabinet following the federal election.

CORPORATES
GRAINCORP LIMITED – ASX GNC, ARCHER DANIELS MIDLAND COMPANY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, SHANGHAI PENGXIN GROUP COMPANY LIMITED, S KIDMAN AND COMPANY PTY LTD, LAZARD PTY LTD, UBS HOLDINGS PTY LTD, GOLDMAN SACHS AUSTRALIA GROUP HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, CBH LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Australian debt control worst in G20: report

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Original article by Adam Creighton
The Australian – Page: 1 & 4 : 27-Jul-16

A Peterson Institute for International Economics report notes that Australia’s debt-to-GDP ratio has risen by 27.1 per cent since the global financial crisis. This is not much lower than the average increase recorded by developed nations such as the US, the UK, Japan and Italy. The report’s author, Paolo Mauro, concludes that Australia could have cleared its net debt and Budget deficit if real government spending had not significantly outpaced that of other major Group of 20 nations over the last eight years.

CORPORATES
PETER G PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS, GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND, AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S CORPORATION

ASX listing rule changes pushed back after flood of feedback

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 20 : 27-Jul-16

Stock exchange operator ASX Limited has advised that new listing rules that were to have been introduced on 1 September 2016 will now take effect on 19 December. The ASX has opted to delay the starting date for the new rules in response to the significant feedback it has received during the consultation phase. The revised listing rules will make it harder for business start-ups to undertake IPOs.

CORPORATES
ASX LIMITED – ASX ASX, WISETECH GLOBAL LIMITED – ASX WTC, CONNEXION MEDIA LIMITED – ASX CXZ, GENERAL MOTORS CORPORATION

Ratings agencies demand debt before acquisitions for BHP

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Original article by Peter Ker
The Australian Financial Review – Page: 15 & 20 : 27-Jul-16

Matthew Moore of credit ratings agency Moody’s says BHP Billiton should give priority to reducing its debt rather than pursuing acquisitions. May Zhong of Standard & Poor’s agrees, arguing that BHP should allocate a significant proportion of its free discretionary cashflow over the next year to reducing debt. Zhong adds that any acquisitions should comprise commodities that it already produces. BHP is among the bidders for Anglo American’s coking coal assets in Queensland.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S CORPORATION, ANGLO AMERICAN PLC, RIO TINTO LIMITED – ASX RIO, MITSUBISHI CORPORATION