Author: roymorgansocial

PM rolls DD poll dice

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Original article by David Crowe
The Australian – Page: 1 & 6 : 19-Apr-16

The Senate’s rejection of a bill to reinstate the Australian Building & Construction Commission means a double-dissolution election on 2 July 2016 is almost certain. However, Prime Minister Malcolm Turnbull is unlikely to seek the dissolution of Parliament until after the Budget is handed down on 3 May. Four of the crossbench senators voted against the ABCC bill, which was defeated by just two votes. Meanwhile, both houses of parliament have passed legislation to abolish the Road Safety Remuneration Tribunal.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. OFFICE OF THE GOVERNOR-GENERAL, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, NEWSPOLL

Executives retain appetite for deals

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 15 : 18-Apr-16

A new report by law firm Herbert Smith Freehills and the research division of the Financial Times shows that takeovers remain on the agenda for many companies. The survey of senior executives found that 75 per cent of respondents who are based in Australia expect to pursue mergers and acquisitions in the next three years, although only 33 per cent expect to make acquisitions that will boost group revenue by at least five per cent.

CORPORATES
HERBERT SMITH FREEHILLS PTY LTD, FINANCIAL TIMES GROUP, DEALOGIC (AUSTRALIA) PTY LTD, ASCIANO LIMITED – ASX AIO, CBH LIMITED, INTRALINKS INCORPORATED

Brexit would be ‘regrettable for Australia’

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Original article by James Chessell
The Australian Financial Review – Page: 1 & 2 : 18-Apr-16

BHP Billiton CEO Andrew Mackenzie says there would be few implications for the resources giant if the UK votes to leave the European Union. However, he warns that it would deter future Australian companies from listing on the London stock exchange, as they would not have the same level of access to the broader European market. Rio Tinto chairman Jan du Plessis also believes that the UK should remain in the European Union. The referendum will be held on 23 June 2016.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Supermarket sweep: ALDI’s share of the Aussie market still rising

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Apr-16

A Roy Morgan Single Source survey has found that ALDI held 12.1 per cent of the total supermarket market as of December 2015, compared with 11.6 per cent in March 2015. Although Woolworths retains the largest market share of 37.3 per cent, this has declined from 38.5 per cent since our last report. Meanwhile, its bitter rival Coles Group is narrowing the gap, having increased its share from 31.8 per cent to 32.5 per cent over the same period. IGA is relatively stable with a 9.7 per cent share.

CORPORATES
ROY MORGAN RESEARCH LIMITED, ALDI STORES SUPERMARKETS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, IGA

Rio ices coal asset sale in full market

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 : 18-Apr-16

The large number of coal mines that are for sale globally has prompted Rio Tinto to put further asset sales on hold until the market improves. Rio is seeking buyers for the Mount Thorley Warkworth and Hunter Valley Operations mines in New South Wales, but it has not been able to find a buyer that is willing to pay a premium for the high-quality assets. Meanwhile, Whitehaven Coal MD Paul Flynn expects more mining companies to offer quality coal assets for sale.

CORPORATES
RIO TINTO LIMITED – ASX RIO, WHITEHAVEN COAL LIMITED – ASX WHC, GLENCORE PLC, ANGLO AMERICAN PLC, PEABODY ENERGY CORPORATION, VALE SA, BHP BILLITON LIMITED – ASX BHP, APOLLO GLOBAL MANAGEMENT LLC, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED

US bank action may thwart Arrium rescue

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Original article by Sarah Danckert
The Australian Financial Review – Page: 11 & 16 : 18-Apr-16

Morgan Stanley Bank has applied for a court order in the US seeking the repayment of a $US75.4m ($A97.6m) credit facility that it provided to failed steelmaker and iron ore miner Arrium. The US bank is also believed to be seeking a court order to prevent Arrium from transferring assets from the US. Arrium’s administrator KordaMentha in turn will apply to the Federal Court of Australia to block Morgan Stanley’s attempt to demand repayment of the debt facility.

CORPORATES
ARRIUM LIMITED – ASX ARI, MORGAN STANLEY BANK NA, KORDA MENTHA AND COLLEAGUES PTY LTD, FEDERAL COURT OF AUSTRALIA, DELAWARE CHANCERY COURT, MOLY-COP USA LLC, GRANT THORNTON AUSTRALIA, ARRIUM FINANCE, ARRIUM IRON ORE HOLDINGS, LIFESTEEL TECHNOLOGIES AMERICA LLC, ONESTEEL GROUP INCORPORATED, ONESTEEL RECYCLING INCORPORATED, ONESTEEL INVESTMENTS, GSO CAPITAL PARTNERS LP, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, McGRATH NICOL AND PARTNERS SERVICES PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, ANSETT AUSTRALIA HOLDINGS LIMITED

TV audiences slide as Netflix effect kicks in

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Original article by Dominic White
The Australian Financial Review – Page: 25 : 18-Apr-16

Data from OzTAM highlights the impact of video-on-demand services on Australia’s free-to-air TV networks. Prime-time viewing has fallen by 4.3 per cent overall in 2016, led by the key 16-39 age demographic, which is down 14.8 per cent. However, the figures do not include people who view the networks’ programs via their online "catch-up" services. The OzTAM data also shows that the prime-time audience share of pay-TV group Foxtel has fallen by 5.3 per cent.

CORPORATES
OZTAM PTY LTD, FOXTEL MANAGEMENT PTY LTD, NETFLIX INCORPORATED, YOUTUBE INCORPORATED, STAN ENTERTAINMENT PTY LTD, OMNICOM MEDIA GROUP AUSTRALIA PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, PRESTO ENTERTAINMENT PTY LTD, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), THE NIELSEN COMPANY

Hayu can’t keep up with the Kardashians

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Original article by Dominic White
The Australian Financial Review – Page: 26 : 18-Apr-16

Technical problems have plagued the Hayu subscription video-on-demand service of US media giant NBC Universal. The reality TV-focused Hayu was launched in March 2016, but some users in Australia have complained that streaming TV shows on Hayu is very slow. A spokesman for NBC Universal concedes that there have been issues with Hayu but says the company is addressing these problems.

CORPORATES
NBC UNIVERSAL INCORPORATED, HAYU, FACEBOOK INCORPORATED, COMCAST CORPORATION, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, PRESTO ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, FOXTEL MANAGEMENT PTY LTD, UNIVERSAL PICTURES, UNIVERSAL STUDIOS, WALT DISNEY COMPANY, AMAZON.COM INCORPORATED

BHP steps up JV controls

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Original article by Barry FitzGerald
The Australian – Page: 17 & 18 : 18-Apr-16

BHP Billiton may seek to restructure its non-operating joint ventures in Latin America in the wake of the Samarco disaster in Brazil. Any such move would affect the Samarco iron ore mine, the Cerrejon coal mine in Colombia and the Antamina copper and zinc mine in Peru. BHP Billiton holds large stakes in all three mines, but it does not operate any of them. Credit Suisse has estimated that unwinding the joint ventures could affect some $US17.4bn worth of mining assets in the region.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, VALE SA, CREDIT SUISSE (AUSTRALIA) LIMITED, GLENCORE PLC, TECK CORPORATION, MITSUBISHI CORPORATION, ANGLO AMERICAN PLC

Foxtel’s $8b float plans delayed

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Original article by Dominic White
The Australian Financial Review – Page: 25 : 18-Apr-16

Foxtel’s joint owners, News Corp and Foxtel, initially planned to list the pay-TV company on the Australian sharemarket in the second half of 2016. However, the proposed IPO is believed to have been pushed back to 2017. Negotiations over a new broadband arrangement are said to be a key issue. Plans for the IPO also include merging News-owned Fox Sports with Foxtel. Foxtel faces growing competition from subscription video-on-demand companies such as Netflix.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, FOX SPORTS AUSTRALIA PTY LTD, NETFLIX INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD