Author: roymorgansocial

Removalists hit as PM moves to axe roads body

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 1 & 6 : 13-Apr-16

The Australian Government will introduce legislation to abolish the Road Safety ­Remuneration Tribunal when Parliament is recalled. The move now has the support of five crossbench senators. The Government will also introduce separate legislation to halt the implementation of the RSRT’s ruling on "safe rates" for owner-drivers in the trucking industry. The Australian Furniture ­Removers’ Association has warned that consumers who hire self-employed interstate removalists would face significant penalties if they did not pay the "safe rates".

CORPORATES
AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIAN FURNITURE REMOVERS’ ASSOCIATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. DEPT OF EMPLOYMENT, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, TRANSPORT WORKERS’ UNION, PALMER UNITED PARTY, AUSTRALIAN MOTORING ENTHUSIAST PARTY, HIGH COURT OF AUSTRALIA, INDEPENDENT CONTRACTORS OF AUSTRALIA INCORPORATED

Shorten teeters on truckie pay ruling

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 6 : 12-Apr-16

Opposition Leader Bill Shorten says he is willing to negotiate with the Australian Government regarding the introduction of new pay rates for owner-drivers in the trucking industry. The Government still wants to abolish the Road Safety Remuneration Tribunal, but it will opt to for legislation to defer the introduction of revised pay rates and take further action after the federal election. However, Shorten opposes abolishing the RSRT, which was established by the Australian Labor Party in 2012.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, HIGH COURT OF AUSTRALIA, TRANSPORT WORKERS’ UNION, NATIONAL PARTY OF AUSTRALIA

PM offers extra money to watch banks

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Apr-16

Federal Treasurer Scott Morrison has again stated that there is no need for a royal commission into banks. The Opposition claims that such a move is necessary and even some Coalition backbenchers share this view. Morrison said the banking system is already well regulated, although he expressed the willingness of the Government to provide the Australian Securities & Investments Commission with more resources if needed.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

AAA credit rating at risk from rising public debt

roymorgansocial Leave a comment

Original article by David Uren
The Australian – Page: 2 : 12-Apr-16

Australia’s credit rating has not been downgraded since 1989, but Peter Jolly of National Australia Bank has warned that the nation’s public debt may put the coveted triple-A rating at risk. Jolly says public debt is now higher than the level which prompted the ratings downgrades in 1986 and 1989, and he stresses that the Federal Government’s May 2016 Budget must rein in spending. Treasurer Scott Morrison says spending constraint will be a feature of the Budget.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, STANDARD AND POOR’S CORPORATION

Rio’s pay delay gambit may fail

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 20 : 12-Apr-16

Mining industry sources doubt that Rio Tinto will be able to enforce its revised payment terms for contractors and suppliers. The resources giant recently advised that it will pay invoices 90 days after receipt, compared with 45 days at present, and up from 30 days in 2015. Some industry watchers have suggested that the new payment schedule is more likely to apply to Rio’s future contracts, as suppliers will need to agree to any changes to existing arrangements.

CORPORATES
RIO TINTO LIMITED – ASX RIO, MONADELPHOUS GROUP LIMITED – ASX MND, WORLEYPARSONS LIMITED – ASX WOR, MACMAHON HOLDINGS LIMITED – ASX MAH, AUSDRILL LIMITED – ASX ASL, NRW HOLDINGS LIMITED – ASX NWH, BRIERTY LIMITED – ASX BYL, BHP BILLITON LIMITED – ASX BHP

Housing risks rise as foreign approvals soar

roymorgansocial Leave a comment

Original article by Samantha Hutchinson
The Australian – Page: 23 : 12-Apr-16

Australia’s Foreign Investment Review Board processed 36,841 applications for offshore investments in the residential property sector during the last year. The FIRB approved a record $A61bn worth of foreign investments in the sector. A banking analyst has downplayed concerns that settlement risk will be heightened by any move by Chinese authorities to crack down on cash outflows, arguing that such measures have not been very effective to date.

CORPORATES
AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, LEND LEASE GROUP LIMITED – ASX LLC

Low rental yields a risk: Moody’s

roymorgansocial Leave a comment

Original article by Su-Lin Tan
The Australian Financial Review – Page: 6 : 12-Apr-16

Credit ratings agency Moody’s has warned Australians about the pitfalls of investing in residential property in the current investment environment. A decline in rental yields to record lows in Sydney and Melbourne has resulted in a higher risk of default. Savills’ head of research, Tony Crabb, says the Moody’s warning should be seen in the wider context of risk mitigation strategies that are available to investors.

CORPORATES
MOODY’S INVESTORS SERVICE INCORPORATED, SAVILLS (AUST) HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Banks cheap on valuations, but ‘buy’ status questionable

roymorgansocial Leave a comment

Original article by Vanessa Desloires
The Australian Financial Review – Page: 27 : 12-Apr-16

The share prices of Australia’s four major banks have fallen by 7-12 per cent in the last month. As a result, the banks are trading at a sizeable discount based on their forward price-to-earnings ratio, which has fallen to about 11 times. However, Omkar Joshi of Watermark Funds Management notes that the banks are still much more expensive than their international peers on a price-to-book ratio.

CORPORATES
WATERMARK FUNDS MANAGEMENT PTY LTD, DEUTSCHE BANK AG, BLOOMBERG LP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ARRIUM LIMITED – ASX ARI, AURORA FUNDS MANAGEMENT LIMITED, CONTANGO ASSET MANAGEMENT LIMITED, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

A name-brand tag matters more to men (and to the $5.7b they spend on men’s clothes)

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Apr-16

A Roy Morgan Single Source survey has found that 4.4 million Australians aged 14+ agree with the statement, "I will buy a product because of the label". The survey, which was carried out in the year to December 2015, also shows that 2.3 million men (24 per cent) agree that they will buy a product because of the label, while 2.1 million women (21 per cent) agree with the statement. Meanwhile, brand-buying men bought an estimated 26 million items of menswear in 2015, costing an average of $A79 apiece, while brand-conscious women bought an estimated 55 million items of womenswear, costing an average of $A58 apiece.

CORPORATES
ROY MORGAN RESEARCH LIMITED

BHP is poised to pounce: chief

roymorgansocial Leave a comment

Original article by Barry FitzGerald
The Australian – Page: 19 & 20 : 12-Apr-16

BHP Billiton shareholders will receive interim dividends totalling $A848m after the group adopted a minimum payout ratio. Its half-year payout would have been about $A3.28bn if it had retained a progressive dividend policy. CEO Andrew Mackenzie says the change in policy means BHP has the capacity to undertake acquisitions if an appropriate opportunity arises. However, he adds that its focus will be on developing existing assets.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32