Author: roymorgansocial

New Santos chief executive wields axe as senior execs go

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 22-Mar-16

Santos has appointed Vince Santostefano to the post of COO, while Angus Jaffray will become executive vice president for strategy and corporate services. Meanwhile, James Baulderstone will step down as vice president of corporate development. Santos’s vice president for Queensland, Trevor Brown, will also leave the group. Both had been seen as potential successors to ex-CEO David Knox. New CEO vice president Queensland has commenced a restructuring program.

CORPORATES
SANTOS LIMITED – ASX STO, WOODSIDE PETROLEUM LIMITED – ASX WPL, AZURE CONSULTING, THE BOSTON CONSULTING GROUP PTY LTD, CROWN CORK AND SEAL COMPANY

Sydney’s bleak outer west the outlier in record home auctions

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Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 21-Mar-16

Data from APM PriceFinder shows that Sydney’s residential property market recorded an auction clearance rate of 75 per cent on the weekend of 19-20 March 2016, with 911 dwellings going under the hammer. Andrew Wilson of Domain notes the wide variation in clearance rates across Sydney, with the clearance rate in western Sydney remaining at around 40 per cent. The clearance rate in Melbourne eased from 76 per cent to 74 per cent, with 1,600 properties listed for auction.

CORPORATES
AUSTRALIAN PROPERTY MONITORS PTY LTD, DOMAIN.COM.AU, DEVINE REAL ESTATE HOLDINGS PTY LTD, PLACE ESTATE AGENTS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Rio chief-in-waiting downplays expansion

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Original article by James Chessell
The Australian Financial Review – Page: 15 : 21-Mar-16

Jean-Sebastien Jacques has indicated that reducing costs, balance sheet strength and industrial safety will be among Rio Tinto’s priorities when he succeeds Sam Walsh as CEO in July 2016. There had been speculation that Rio Tinto will ramp up its growth strategy under Jacques, following several years of cost-cutting. He is currently the head of Rio Tinto’s copper and coal division.

CORPORATES
RIO TINTO LIMITED – ASX RIO, SANFORD C BERNSTEIN AND COMPANY, BARCLAYS BANK PLC, RIVERSDALE MINING LIMITED

7-Eleven still rorting workers, says CEO

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Original article by Mathew Dunckley
The Australian Financial Review – Page: 18 : 21-Mar-16

Former Skilled Group boss Angus McKay says addressing problems with 7-Eleven’s corporate culture will be one of his priorities as the convenience store chain’s new CEO. McKay has conceded that wage exploitation is most likely still an issue at some stores, but he has committed to completely eliminating such practices. He also concedes that the wages scandal has tarnished 7-Eleven’s reputation among consumers.

CORPORATES
7-ELEVEN STORES PTY LTD, SKILLED GROUP LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FOSTER’S GROUP LIMITED, DIAGEO AUSTRALIA LIMITED

ANZ-Roy Morgan New Zealand Consumer Confidence Rating – Slight fall in March to 118.0

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 18-Mar-16

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has fallen to 118.0 in March 2016, compared with 119.7 in February. However, consumer confidence remains in line with the historical average. The Current Conditions Index dipped three points to 120.8, and the Future Conditions Index fell from 116.7 to 116.2.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Senate vote reforms ‘will beat challenge’

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Original article by Rachel Baxendale, Phillip Hudson
The Australian – Page: 5 : 21-Mar-16

Special Minister of State Mathias Cormann is confident that the Australian Government’s changes to the voting system for the Senate will be upheld by the High Court. The Family First Party’s Senator Bob Day intends to challenge the validity of the reforms, which were passed by the Senate on 18 March 2016. Constitutional law expert Anne Twomey of Sydney University does not expect the High Court to support any challenge to the reforms.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FAMILY FIRST PARTY AUSTRALIA LIMITED, HIGH COURT OF AUSTRALIA, UNIVERSITY OF SYDNEY, AUSTRALIAN GREENS, AUSTRALIAN MOTORING ENTHUSIAST PARTY

National lead cut to smallest since September as NZ First vote surges to 9% as Winston Peters takes strong stand on New Zealand Flag Referendum

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 18-Mar-16

A New Zealand Roy Morgan Poll on voting intention has found that support for the ruling National Party has fallen by 2.5 per cent to 46 per cent in March 2016. The poll also shows that support for a potential Labour/Greens alliance has risen by 0.5 per cent to 42 per cent, while the NZ Roy Morgan Government Confidence Rating has risen by four points to 132 points. Roy Morgan Research executive chairman Gary Morgan says the three per cent increase in support for NZ First (to nine per cent), means the centrist party could determine who will form New Zealand’s next government and be Prime Minister after the election in late 2017.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL PARTY OF NEW ZEALAND, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, CONSERVATIVE PARTY OF NEW ZEALAND, THE MAORI PARTY, ACT NEW ZEALAND, NEW ZEALAND FIRST PARTY, INTERNET PARTY, MANA PARTY

Macquarie severs ties with Southern Cross

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Original article by Dominic White, Sarah Thompson
The Australian Financial Review – Page: 31 : 21-Mar-16

Macquarie Group has sold its entire shareholding in regional TV broadcaster Southern Cross Media Group. Nine Entertainment Company recently paid $A1.15 per share for 9.9 per cent of Macquarie’s 26.1 per cent stake in Southern Cross Media. Sources have indicated that Macquarie has since offloaded all of its remaining shares to institutional investors at $A1.08 per share.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, ALLAN GRAY AUSTRALIA PTY LTD

Nightly show as Bolt gets bolder

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Original article by Michael Bodey
The Australian – Page: 23 : 21-Mar-16

Newspaper columnist, blogger and TV presenter Andrew Bolt will move from the Ten Network to pay-TV channel Sky News. "The Bolt Report" will be broadcast five nights a week on Sky News from May 2016, after previously airing on Sunday mornings on Ten. The new version of the program will be produced by Australian News Channel, which owns Sky News. Bolt will continue to write newspaper columns for New Corp and appear on Steve Price’s nightly show on Macquarie Media radio stations.

CORPORATES
SKY NEWS, AUSTRALIAN NEWS CHANNEL PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Hywood has ‘no plan’ says ex-Fairfax exec

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Original article by Jake Mitchell
The Australian – Page: 23 & 25 : 21-Mar-16

A former editor-in-chief of "The Australian Financial Review", Glenn Burge, says Fairfax Media directors have not sufficiently questioned the strategy of CEO Greg Hywood. Burge says Fairfax lacks a plan to maintain its standards of journalism, and he has criticised Hywood for saying the latest round of job losses is necessary for the media group to keep delivering "high quality journalism". He also says Fairfax is too reliant on advice from consultants.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, BAIN AND COMPANY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, PAGEMASTERS PTY LTD, DOMAIN.COM.AU