Author: roymorgansocial

Russian sells off FMG stake

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Original article by Barry FitzGerald
The Australian – Page: 20 : 15-Mar-16

Shares in Fortescue Metals Group closed 2.6 per cent lower at $A2.58 on 14 March 2016, after the iron ore price retreated from recent highs. Meanwhile, Russia-based Magnitogorsk Iron & Steel has trimmed its stake in Fortescue by 0.64 per cent. The group is believed to have sold 20 million shares at $A2.55 apiece. The transaction follows recent speculation that Magnitogorsk could reduce its stake to capitalise on Fortescue’s share price rally in 2016.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MAGNITOGORSK IRON AND STEEL WORKS (MMK), MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S CORPORATION, FITCH RATINGS LIMITED, BHP BILLITON LIMITED – ASX BHP, VALE SA, BLOOMBERG LP, CITIGROUP PTY LTD

NDIS could kick-start a boom in jobs and business

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Original article by Laura Tingle
The Australian Financial Review – Page: 6 : 14-Mar-16

The National Disability Insurance Agency has estimated that the Australian Government’s National Disability Insurance Scheme will create almost 29,000 jobs and boost the value of the disability services market to $A6.8bn. This is in line with figures from Federal Social Services Minister Christian Porter and New South Wales Disability Services Minister John Ajaka. The full rollout of the NDIS will commence in NSW and Victoria from July 2016.

CORPORATES
AUSTRALIA. NATIONAL DISABILITY INSURANCE AGENCY, AUSTRALIA. DEPT OF SOCIAL SERVICES, NEW SOUTH WALES. DEPT OF AGEING, DISABILITY AND HOME CARE, AUSTRALIAN LABOR PARTY

Penalty rates ‘help lowest paid’

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Original article by Benjamin Preiss
The Age – Page: 3 : 14-Mar-16

The Victorian Government’s submission to a Fair Work Commission review of penalty rates in the hospitality and retail industries argues that many people on low incomes rely on penalty rates for basic household expenses. It also argues that penalty rates often cost companies less than expenses such as taxes and local council rates.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP

Call to count home in pension

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Original article by Adam Creighton
The Australian – Page: 2 : 14-Mar-16

A report from the Actuaries Institute argues the case for retirees’ homes to be included in the means test for the age pension. The report notes that around one per cent of retirees’ home equity is currently being used to provide a retirement income stream. The institute has also proposed streamlining the regulation of home-equity release products such as reverse mortgages, as well as a reduction in stamp duty to encourage retirees to move to smaller homes.

CORPORATES
THE ACTUARIES INSTITUTE, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, AUSTRALIA. PRODUCTIVITY COMMISSION, THE CENTRE FOR INDEPENDENT STUDIES LIMITED, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Price rout casts doubt on expansion

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 14-Mar-16

EnergyQuest’s Graeme Bethune has downplayed suggestions that some of the Queensland LNG production trains may be put on hold. The three projects will eventually have six trains, and Credit Suisse and RBC Capital Markets are among the firms which believe that at least one train could be mothballed amid a downturn in commodity prices. Santos and Origin Energy have indicated that the second trains of their LNG projects are expected to commence production on schedule.

CORPORATES
ENERGYQUEST, CREDIT SUISSE (AUSTRALIA) LIMITED, RBC CAPITAL MARKETS, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA PACIFIC LNG LIMITED, GLADSTONE LNG PTY LTD, QUEENSLAND CURTIS LNG PTY LTD, ROYAL DUTCH SHELL PLC, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Aussie tests US76c as central banks ponder

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Original article by Vesna Poljak
The Australian Financial Review – Page: 20 : 14-Mar-16

Market watchers expect Australia’s benchmark S&P/ASX 200 to gain 0.8 per cent when trading resumes on 14 March 2016. The market is likely to benefit from a positive lead from overseas bourses and encouraging economic data from China. Investors will also be awaiting the outcome of the monetary policy meetings of the US and Japanese central banks in coming days, as well as the release of the latest jobs data in Australia.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF JAPAN, EUROPEAN CENTRAL BANK, CREDIT SUISSE (AUSTRALIA) LIMITED, EURO STOXX 50 INDEX, ROUBINI GLOBAL ECONOMICS LLC, PEOPLE’S BANK OF CHINA, BLOOMBERG LP

Facebook and co over-rated, says academic

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 14-Mar-16

Melbourne Business School’s Professor of Marketing, Mark Ritson, has criticised the trend for marketers to shun traditional media in favour of social media. He notes that data from Nielsen indicates that only 46 per cent of people trust advertisements on social media, while 63 per cent trust TV ads and 60 per cent trust print ads. Likewise, just 23 per cent of Australians follow brands via social media, according to data from Sensis.

CORPORATES
MELBOURNE BUSINESS SCHOOL, THE NIELSEN COMPANY (AUSTRALIA) PTY LTD, SENSIS PTY LTD, AUSTRALIAN ASSOCIATION OF NATIONAL ADVERTISERS, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TWITTER INCORPORATED, FACEBOOK INCORPORATED, INSTAGRAM LLC

Miners won’t take pedal off the metal

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 14-Mar-16

The iron ore price has risen by about 65 per cent so far in 2016, although it has retreated from the year-to-date high of more than $US63 per tonne. Meanwhile, Paul Young of Deutsche Bank expects Rio Tinto’s iron ore output in the Pilbara to top 360 million tonnes in 2017, despite the miner’s own guidance of 350 million tonnes. There are also expectations that production at the Samarco joint venture between BHP Billiton and Vale will resume before the end of the 2016, while production at the Roy Hill iron ore project may increase.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CREDIT SUISSE (AUSTRALIA) LIMITED, BHP BILLITON LIMITED – ASX BHP, VALE SA, SAMARCO MINERACAO SA, ROY HILL IRON ORE PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG, CHINA. NATIONAL BUREAU OF STATISTICS, KATANA ASSET MANAGEMENT LIMITED

Fifield hints anti-siphoning rules redundant

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Original article by Jake Mitchell
The Australian – Page: 23 : 14-Mar-16

Communications Minister Mitch Fifield has ruled out changes to the anti-siphoning list for sports events as part of the Australian Government’s cross-media ownership reforms. However, he has conceded that online streaming has made the anti-siphoning list less relevant, as the restrictions do not apply to companies that supply such services. Fifield also maintains that abolition of the "reach rule" and the "two-out-of-three rule" must be put to Parliament in a single bill.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SINGTEL OPTUS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, YOUTUBE INCORPORATED, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN LABOR PARTY

Free and pay TV row over licence fees

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Original article by Max Mason, Dominic White
The Australian Financial Review – Page: 30 : 14-Mar-16

Australia’s free-to-air commercial TV networks argue that a reduction in broadcasting licence fees would result in increased local content. The networks’ CEOs also say it would make them more competitive against overseas streaming video providers, which are not subject to the same regulatory regime. Broadcasting licence fees were reduced by 50 per cent in 2013, but Screen Producers Australia CEO Matthew Deaner says FTA networks should have to make a firm commitment to investing in local content in return for further licence fee cuts.

CORPORATES
SCREEN PRODUCERS AUSTRALIA, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NETFLIX INCORPORATED, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)