Author: roymorgansocial

End of era as TV king calls it quits at Seven

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Original article by Darren Davidson
The Australian – Page: 2 : 13-Jul-16

Seven West Media’s former CEO David Leckie will sever ties with the media group when his contract expires in late June 2016. Leckie join the group in 2003, and the Seven Network began its dominance of the TV ratings during his tenure. Leckie has acted as a consultant to SWM and Seven Group Holdings since stepping down as CEO of the former in 2012. Leckie had previously worked for the rival Nine Network for more than two decades, including a stint as CEO.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, PACIFIC MAGAZINES PTY LTD, YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD

Gary Morgan’s comment on the surge in Roy Morgan Business Confidence in June

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Original article by Gary Morgan, Roy Morgan Research
Market Research Update – Page: Online : 12-Jul-16

Business Confidence was up 7.6 points in June 2016, to 119.5. However, in July it may "take a hit" given the increased size of the crossbench in the Senate. All businesses will have their eyes on the Coalition’s promised corporate tax cuts – reducing the corporate tax rate for large businesses to 25 per cent (from the current 30 per cent) over the next decade. The Coalition’s election victory means this policy is still on the agenda and the prospect of tax cuts over the next few years should continue to support Business Confidence. Investment certainty is crucial for larger businesses undertaking major projects with substantial investment expenditure.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Google has just pipped Microsoft to be Australia’s top email service provider

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

A Roy Morgan Single Source survey has found that 37.9 per cent of Australians aged 14+ (7,427,000 people) used Gmail in an average four weeks during the year to March 2016. Meanwhile, 37.6 per cent (7,362,000 people) used a Microsoft email account during the period. Google-owned Gmail has gained an additional 3.5 million users in Australia since 2012, while Microsoft (Hotmail/Live/Outlook.com) has gained 1.1 million users. Telstra’s BigPond Email and Yahoo!7 Mail boast 2,912,000 and 2,156,000 Australian users respectively.

CORPORATES
ROY MORGAN RESEARCH LIMITED, GOOGLE INCORPORATED, MICROSOFT CORPORATION, TELSTRA CORPORATION LIMITED – ASX TLS, TELSTRA BIG POND, YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD

Power ‘at risk’ over CFMEU dispute

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Original article by Greg Brown
The Australian – Page: 3 : 12-Jul-16

The Fair Work Commission has ruled in AGL Energy’s favour in a dispute with the Construction, Forestry, Energy & Mining Union. An interim order requires workers at AGL’s Loy Yang A power station in Victoria to resume normal working hours. AGL had alleged that the CFMEU’s ban on working overtime constituted unprotected industrial action. The dispute centres on the CFMEU’s wage claim, which would result in Loy Yang workers being paid an average of $A180,000 per year for a four-day working week.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, LOY YANG A

Business Confidence surges in June – up 6.8% to 119.5 prior to Federal Election

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

Roy Morgan Research’s Business Confidence jumped 6.8 per cent to 119.5 in June 2016. The rise in Business Confidence comes despite a downward trend on the Australian sharemarket in June – the All Ordinaries closed at the end of June at 5,310.40 (down 2.5 per cent -or 137.4 points – from May 31). However, the large rise in Business Confidence in June was likely more tied to the perception in the closing weeks of the Federal Election campaign that the Coalition would retain Government with a narrow victory – which turned out to be correct – despite a week of uncertainty following the Election. The increased level of Roy Morgan Business Confidence in June is now back above the five-year average (116.7).

CORPORATES
ROY MORGAN RESEARCH LIMITED

Oil Search sweetener needed for InterOil

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Original article by Angela Macdonald-Smith, Sarah Thompson
The Australian Financial Review – Page: 1 & 11 : 12-Jul-16

ExxonMobil is believed to be the unnamed company that is seeking to trump Oil Search’s $US2.2bn ($A2.9bn) takeover bid for InterOil. The target has commenced negotiations with the as-yet identified suitor, which made an initial approach in late June 2016, and is understood to have made a scrip-based offer that is 10 per cent higher than the Oil Search bid. All three players have exposure to Papua New Guinea’s LNG sector.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, INTEROIL CORPORATION, EXXONMOBIL CORPORATION, CITIGROUP PTY LTD, TOTAL SA

Roy Hill’s ramp-up puts pedal to the metal for Port Hedland

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Original article by Peter Ker, Tess Ingram
The Australian Financial Review – Page: 13 : 12-Jul-16

The Roy Hill iron ore project has progressively increased the number of monthly shipments since exports began in December 2015. A spokesman for Roy Hill Holdings says 12 ships were loaded in June 2016, and the project is on track to reach full production of 55 million tonnes a year by the end of 2016. However, Macquarie Group forecast earlier in the year that the Roy Hill project will fall short of its production target, noting that achieving full production often takes a new project several years.

CORPORATES
ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION, SAMSUNG C&T CORPORATION, DURO FELGUERA SA, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ATLAS IRON LIMITED – ASX AGO

Minor parties warn of risks of e-voting

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Original article by Primrose Riordan, Yolanda Redrup
The Australian Financial Review – Page: 3 : 12-Jul-16

The high cost of the 2016 federal election – estimated at almost $A200m – and the lengthy delay in counting votes has prompted renewed debate about electronic voting. Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten support e-voting, but the Nick Xenophon Team and the Australian Greens are concerned about security issues. The latter notes that the potential for hacking of personal devices emerged during the 2015 election in New South Wales.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, AUSTRALIAN GREENS, AUSTRALIAN INFORMATION INDUSTRY ASSOCIATION LIMITED, AUSTRALIA. JOINT STANDING COMMITTEE ON ELECTORAL MATTERS, UNIVERSITY OF MELBOURNE

Expensive defensives ‘threatened’

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 1 & 11 : 12-Jul-16

Paul Ashworth of Cameron Harrison is among the financial market experts who question whether the rally in defensive stocks can be sustained. Defensive sectors such as healthcare, utilities and industrials have posted double-digit gains over the last year, while the broader Australian sharemarket has shed three per cent. Prime Value Asset Management’s ST Wong notes that some stocks such as infrastructure and utilities are now trading at high forward price-earnings ratios, but he says they could post further gains if the bond rally continues.

CORPORATES
CAMERON HARRISON PTY LTD, PRIME VALUE ASSET MANAGEMENT LIMITED, STANDARD AND POOR’S ASX 200 INDEX, AGL ENERGY LIMITED – ASX AGL, ALTIUM LIMITED – ASX ALU, TREASURY WINE ESTATES LIMITED – ASX TWE, INFIGEN ENERGY LIMITED – ASX IFN, INVESTORS MUTUAL LIMITED, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, INTEGRAL DIAGNOSTICS LIMITED – ASX IDX, VIRTUS HEALTH LIMITED – ASX VRT, ORORA LIMITED – ASX ORA, VITA GROUP LIMITED – ASX VTG

Coalition set to govern in own right

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Original article by James Massola
The Age – Page: 1 : 12-Jul-16

The Coalition has won the seats of Flynn and Capricornia, giving it 76 seats in the lower house. Meanwhile, the ABC’s election analyst Antony Green expects the Coalition to have about 30 seats in the Senate. Two seats in the lower house and three in the Senate remain undecided, but the Coalition is optimistic that it will have the numbers to pass its industrial relations reforms in a joint sitting of both houses. One Nation will boast three senators, and their support may be crucial for the Coalition to pass legislation to reinstate the Australian Building & Construction Commission and establish a Registered Organisations Commission.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF EMPLOYMENT