Author: roymorgansocial

Pragmatic BHP not chasing coal bargains despite fire sale

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Original article by James Thomson
The Australian Financial Review – Page: 11 : 26-Apr-16

BHP Billiton executive Mike Henry says acquiring coal assets is not high on the resources giant’s list of priorities. He adds that BHP would consider any coal assets that were put on the market at very low prices, but notes that any bargains are unlikely to include quality assets. A number of mining companies are seeking to divest coal mines, and Henry expects this trend to continue. BHP CEO Andrew Mackenzie has previously indicated that the group is particularly interested in buying copper and conventional oil assets.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, VALE SA, GLENCORE PLC, PEABODY ENERGY CORPORATION, ANGLO AMERICAN PLC, APOLLO GLOBAL MANAGEMENT LLC, MITSUBISHI CORPORATION

Foot traffic: shopping for men’s sports shoes

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Apr-16

A Roy Morgan Single Source survey has found that 791,000 Australians aged 14+ bought men’s sporting shoes in any given four-week period in the year to December 2015, compared with 728,000 in 2014. The survey also shows that 9.2 per cent of Australians bought buying men’s sporting footwear at Rebel Sport in an average four weeks in 2015, ahead of Rivers (8.1 per cent) and The Athlete’s Foot (6.3 per cent). Meanwhile, Australians spend an average of $A108 on men’s sporting footwear, but the average customer spend at The Athlete’s Foot is $A177, followed by Foot Locker ($A146).

CORPORATES
ROY MORGAN RESEARCH LIMITED, REBEL SPORT LIMITED, RIVERS (AUSTRALIA) PTY LTD, THE ATHLETE’S FOOT AUSTRALIA PTY LTD, FOOT LOCKER AUSTRALIA INCORPORATED, NIKE AUSTRALIA PTY LTD, BIG W DISCOUNT STORES, KMART AUSTRALIA LIMITED

Job security is great for principals, police, priests and (some) CEOs – but journalists, taxi drivers, scientists and (other) CEOs feel most unstable

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Apr-16

Roy Morgan Research’s latest figures show that an estimated 11,522,000 Australians aged 14+ are currently employed. Over the three years to December 2015, 17 per cent of people in paid employment rated their job security as "very good" and six per cent rated it as "very poor". Meanwhile, 54 per cent of school principals agree their job security is "very good", as do 40 per cent of CEOs and Managing Directors, 36 per cent of police, and 29 per cent of ministers of religion. Jobs that employees are at least three times more likely than average to say have "very poor" security are Vocational Education Teachers (22 per cent), Journalists and Other Writers (21 per cent), and Database and Systems Administrators, and ICT Security Specialists (18 per cent).

CORPORATES
ROY MORGAN RESEARCH LIMITED

Iron ore price leaps to 10-month high

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Original article by Frik Els
Mining.com – Page: Online : 21-Apr-16

The Northern China benchmark import price of iron ore has risen by four per cent to $US64.30 per dry metric tonne. This is its highest level since June 2015. The price of the steel input has risen by almost 50 per cent so far in 2016, and 11.8 per cent during the current week’s trading.

CORPORATES
THE STEEL INDEX LIMITED, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, VALE SA, SAMARCO MINERACAO SA

Qld Nickel’s debts ‘probably won’t be paid’

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Original article by Mark Ludlow
The Australian Financial Review – Page: 9 : 21-Apr-16

The former MD of Queensland Nickel, Clive Mensink, was evasive when asked about the company’s debts but, under pressure from lawyers, he said they were unlikely to be paid. Mensink appeared in the Supreme Court in Brisbane on 20 April 2016 in a case involving an injunction to stop FTI Consulting, acting as voluntary administrator for Queensland Nickel, from pursuing two call notices against QNI Resources and QNI Metals totalling $A190m.

CORPORATES
QUEENSLAND NICKEL SALES PTY LTD, QUEENSLAND NICKEL PTY LTD, FTI CONSULTING PTY LTD, QNI RESOURCES PTY LTD, QNI METALS PTY LTD, SUPREME COURT OF QUEENSLAND

BHP joins Rio in cutting iron ore output

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Original article by Matt Chambers
The Australian – Page: 19-20 : 21-Apr-16

BHP Billiton has reduced its forecast for 2015-16 iron ore output in Western Australia by 10 million tonnes, to 240 million tonnes. The downgrade has been attributed to factors such as inclement weather and a railway upgrade and maintenance project. Rio Tinto recently advised that issues associated with its rail automation program will reduce its Pilbara iron ore production in 2017. BHP’s Pilbara operations produced 61.5 million tonnes of iron ore in the March 2016 quarter.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, JP MORGAN AUSTRALIA LIMITED, DEUTSCHE BANK AG, METAL BULLETIN LIMITED, UBS HOLDINGS PTY LTD, INVESTEC AUSTRALIA LIMITED

Firm met in secret before plug pulled

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Original article by Simon Evans, Tim Binsted
The Australian Financial Review – Page: 15 & 20 : 21-Apr-16

Arrium’s former administrator Grant Thornton has revealed that it discussed the possibility of voluntary administration with the failed steelmaker and iron ore miner’s law firm, Herbert Smith Freehills, on 11 March 2016. Arrium went into administration on 7 April, and Grant Thornton was subsequently replaced as administrator by KordaMentha.

CORPORATES
ARRIUM LIMITED – ASX ARI, GRANT THORNTON AUSTRALIA, KORDA MENTHA AND COLLEAGUES PTY LTD, HERBERT SMITH FREEHILLS PTY LTD, GSO CAPITAL PARTNERS LP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, LAZARD PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BANK OF CHINA GROUP, INDUSTRIAL AND COMMERCIAL BANK OF CHINA, TAIWAN BUSINESS BANK, TAIWAN COOPERATIVE BANK, CHANG HWA COMMERCIAL BANK LIMITED, BANK OF NOVA SCOTIA, GRUPO BANCO BILBAO VIZCAYA ARGENTARIA SA, HSBC BANK PLC, MIZUHO BANK LIMITED, SUMITOMO MITSUI BANKING CORPORATION, BANQUE CANTONALE DE GENEVE, DEUTSCHE BANK AG, MEGA INTERNATIONAL COMMERCIAL BANK COMPANY LIMITED, BABSON CAPITAL MANAGEMENT LLC, AEGON NV, MUTUAL OF OMAHA INSURANCE COMPANY, OHIO NATIONAL FINANCIAL SERVICES INCORPORATED

Falling oil price puts squeeze on Woodside

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Original article by Paul Garvey
The Australian – Page: 21 : 21-Apr-16

Woodside Petroleum has reported sales revenue of $US982m ($A1.26bn) for the March 2016 quarter, which is 30 per cent lower than the same period in 2015. The group has been hit by the downturn in the crude oil price, while production was 4.8 per cent lower than the December 2015 quarter at 23.7 million barrels of oil equivalent. Production was affected by scheduled maintenance at the North West Shelf project and the end of production at the group’s Balnaves oilfield.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE ENERGY LIMITED, UBS HOLDINGS PTY LTD

Tabcorp’s new charges from money-laundering cop

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Original article by Perry Williams
The Australian Financial Review – Page: 22 : 21-Apr-16

Tabcorp has allegedly breached the anti-money laundering rules. The Australian Transaction Reports & Analysis Centre (Austrac) alleges that the wagering group failed to notify the regulator of more than 30 TAB accounts being opened by criminals using false names to launder funds generated through fraudulent credit card transactions. The Federal Court was due to hear the case in September 2016, but the hearing has been postponed until 6 June 2017.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, TAB LIMITED, ASX LIMITED – ASX ASX

Penalty rates a poll bombshell

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Original article by Elizabeth Colman, Joe Kelly
The Australian – Page: 1 & 4 : 21-Apr-16

The Fair Work Commission may issue its ruling on weekend penalty rates in the retail and hospitality industries before the 2016 federal election. Employers are seeking a reduction in the penalty rates that apply for working on Sundays and public holidays. Australian Industry Group chief executive Innes Willox says penalty rates will be the key industrial relations issue during the election campaign. He argues that the current regime deters employers from hiring and training staff.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, ACTU, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, UNITED VOICE, TOURISM ACCOMMODATION AUSTRALIA, RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION