Author: roymorgansocial

Doubts over Netflix’s local content pledge

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Original article by Michael Bodey
The Australian – Page: 25 : 4-Apr-16

Australian subscription video-on-demand providers Stan and Presto have commissioned local programs, but US-based rival Netflix has yet to do so. Netflix’s chief content officer Ted Sarandos indicated in 2015 that the group will eventually begin producing content in Australia. However, Netflix has started to submit its original content for classification in Australia, and it has broadcast a range of Australian content in overseas markets.

CORPORATES
STAN ENTERTAINMENT PTY LTD, PRESTO ENTERTAINMENT PTY LTD, NETFLIX INCORPORATED, NINE PINES PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, FOXTEL MANAGEMENT PTY LTD

Business Confidence rises again in March – up 2.4pts to 115.7

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 31-Mar-16

A Roy Morgan Business Single Source survey has found that Australian business confidence rose by 2.4 points to 115.7 in March 2016, and it has now risen 5.1 points over the last two months. The rise in business confidence comes after steady improvement on the Australian sharemarket in March, after the All Ordinaries Index dropped in both January and February to start the year amid global economic concerns. The level of business confidence in March is clearly positive for the economy overall and just below the five-year average of 116.6. The weakest indicators are the performance of the business compared to a year ago (+7) and expectations of economic conditions in Australia over the next 12 months (+11).

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Australians worry about cross-border tax dodges

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Original article by Joanna Mather
The Australian Financial Review – Page: 4 : 1-Apr-16

A survey commissioned by Australian accounting firm BDO suggests that tax avoidance by international companies is considered to be a serious problem. BDO’s tax chief, Mark Molesworth, says 20 per cent of survey respondents regarded profit shifting by multinationals as the country’s biggest tax problem, followed by the GST and state taxes.

CORPORATES
BDO CHARTERED ACCOUNTANTS AND ADVISERS, APPLE INCORPORATED, CHEVRON CORPORATION, GLAXOSMITHKLINE PLC

Markets have gone a bit too quiet for some

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Original article by Vesna Poljak
The Australian Financial Review – Page: 26 : 1-Apr-16

Global financial market volatility has declined, as measured by the Chicago Board Options Exchange’s "fear index". However, Escala Partners’ Giselle Roux cautions investors to expect further volatility. She anticipates mixed fortunes in the upcoming US profit reporting season, while other factors that may weigh on market sentiment include the US presidential election and a UK referendum on staying in the European Union. Australia’s benchmark S&P/ASX 200 shed four per cent during the March 2016 quarter, or one per cent in US dollar terms.

CORPORATES
CHICAGO BOARD OPTIONS EXCHANGE VOLATILITY INDEX, ESCALA PARTNERS LIMITED, STANDARD AND POOR’S ASX 200 INDEX, DEUTSCHE BANK AG, GROUP OF TWENTY (G-20), UNITED STATES. FEDERAL RESERVE BOARD, BELL POTTER SECURITIES LIMITED

Short sellers look to big miners

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Original article by Peter Ker, Thomas Hounslow
The Australian Financial Review – Page: 27 : 1-Apr-16

The recent rise in short positions in Rio Tinto, BHP Billiton, Glencore and Anglo American suggests that many investors do not believe that a rally in commodity prices will last. For Rio Tinto, the percentage of its Australian shares sold short in mid-February 2016 was the highest since late December 2012. According to Macquarie Securities, the prices of metal and bulk commodities will continue to be under pressure because of over-capacity.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, GLENCORE PLC, ANGLO AMERICAN PLC, MACQUARIE SECURITIES PTY LTD

J&J to pay $250m for bad hip joints

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Original article by Marianna Papadakis
The Australian Financial Review – Page: 7 : 1-Apr-16

Johnson & Johnson has reached a conditional agreement with lawyers representing 1,700 Australians who allegedly suffered adverse health effects related to hip replacements. The pharmaceutical and medical devices group agreed to pay $A250 million to settle the case. The class action settlement is yet to be approved by Federal Court.

CORPORATES
JOHNSON AND JOHNSON, DEPUY AUSTRALIA, SHINE LAWYERS, MAURICE BLACKBURN PTY LTD, FEDERAL COURT OF AUSTRALIA

ATO to test ‘national interest’

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Original article by Angus Grigg, Angela Macdonald-Smith
The Australian Financial Review – Page: 3 : 1-Apr-16

The Australian Taxation Office (ATO) has been given new powers to scrutinise foreign investments for their impact on Australia’s national interest. It seems that the ATO will focus on Chinese state-owned enterprises. The chairman of China’s State Grid Corporation, Liu Zhenya, said at a press conference in Beijing on 30 March 2016 that his company expected to be treated the same way as other bidders for the New South Wales electricity network, Ausgrid.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSGRID PTY LTD, TRANSGRID, STATE GRID CORPORATION OF CHINA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Global funds take aim at media

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Original article by Jake Mitchell
The Australian – Page: 19 & 22 : 1-Apr-16

UBS’s Justin Dwyer says the Australian Government’s proposed changes to cross-media ownership laws may prompt renewed interest in local media companies among their offshore peers and private equity firms. He suggests that companies which made offers to buy the Ten Network in 2015 could be among the potential suitors. Meanwhile, Greg Peirce of UBS says the media industry’s "structural challenges" may have more influence on merger activity in the sector than government reforms.

CORPORATES
UBS HOLDINGS PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PROVIDENCE EQUITY PARTNERS INCORPORATED, DISCOVERY COMMUNICATIONS INCORPORATED, CREDIT SUISSE (AUSTRALIA) LIMITED, DEUTSCHE BANK AG, DICK SMITH HOLDINGS LIMITED – ASX DSH, AUSTRALIA. SENATE STANDING COMMITTEE ON ENVIRONMENT, COMMUNICATIONS, INFORMATION TECHNOLOGY AND THE ARTS, THOMSON REUTERS PLC

Turnbull wants to end federal funding of schools

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

Prime Minister Malcolm Turnbull has proposed radical changes in fiscal relations between the federal and state governments. He envisages ceding responsibility for public schools and the health system to the states in exchange for granting more fiscal powers to the states. He will unveil the details of his plan at a Council of Australian Governments meeting in Canberra on 1 April 2016.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

Labor leaves low wage to tribunal

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Original article by Elizabeth Colman, Greg Brown
The Australian – Page: 4 : 1-Apr-16

The Australian Labor Party will not make a submission on the Fair Work Commission’s review of the minimum wage. Workplace relations spokesman Brendan O’Connor says Labor has confidence in the wage review process and believes that it will consider factors such as the rising cost of living. The ACTU is seeking a $A30 per week increase in the minimum wage. Employer groups have proposed a much lower increase, citing factors such as the uncertain economic outlook and Australia’s high minimum wage compared with some countries.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, ACTU, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, THE AUSTRALIAN INDUSTRY GROUP, UNITED VOICE, RESERVE BANK OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT