Author: roymorgansocial

Ten rebuffs Southern Cross offer to sell assets

roymorgansocial Leave a comment

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

Regional broadcaster Southern Cross Media Group has offered to sell its TV assets to Ten Network during negotiations for a new affiliation agreement. However, Ten chairman David Gordon has ruled out any such deal, saying the metropolitan broadcaster is not interested in buying Southern Cross’s TV stations. Regional broadcasters are facing growing competition from the streaming services offered by metropolitan networks and offshore players such as Netflix.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NETFLIX INCORPORATED, TRIPLE M CORPORATION PTY LTD, HIT NETWORK, FREEHILLS PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, DEUTSCHE BANK AG, APN NEWS AND MEDIA LIMITED – ASX APN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Record number of Australians employed in February as unemployment falls to 10%

roymorgansocial Leave a comment

Original article by Gary Morgan
Market Research Update – Page: Online : 11-Mar-16

The long-running Roy Morgan unemployment estimate shows real Australian unemployment (10.0 per cent) is consistently higher than reported by the ABS (6.0 per cent) – and the higher Roy Morgan unemployment estimate "makes sense" when one considers record low wages growth. The ABS figures released monthly lack credibility. ABS estimated unemployment of 6.0 per cent in January – recognised as a figure close to "full employment". The ABS also reports Australian wage growth at a record low of only 2.2 per cent in 2015. These two figures do not make sense. The economic fact is that when an economy approaches full employment, wages growth throughout the economy accelerates and this causes inflation. This is not happening in Australia, and nor is it happening in the US. The US Bureau of Labor Statistics claims US unemployment of only 4.9 per cent on the most reported measure. However, a broader definition of US unemployment also released by the BLS (called U6) shows real US unemployment of 9.7 per cent. This higher US unemployment estimate is a much closer estimate of the real level of unemployment in the US and very close to Australia’s level of real unemployment. Both businesses and governments in Australia and the US do their economic modelling based on the wrong unemployment data.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, UNITED STATES. BUREAU OF LABOR STATISTICS

Study backs Pilbara lithium mine’s potential

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 20 : 11-Mar-16

A pre-feasibility study released by Australian-listed Pilbara Minerals is upbeat about the potential of the group’s Pilgangoora lithium project. The study concluded that the mine could yield 330,000 tonnes of spodumene concentrate a year, with production costs of about $US205 per tonne. The study also forecasts that the project would have annual EBITDA of $A120m. The spot price of spodumene concentrate currently exceeds $US600 per tonne.

CORPORATES
PILBARA MINERALS LIMITED – ASX FTN, TESLA MOTORS INCORPORATED, ATLAS IRON LIMITED – ASX AGO, FOSTER STOCKBROKING PTY LTD

Are all telcos the same? Over 1 in 5 Australians think so

roymorgansocial Leave a comment

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

A Roy Morgan Single Source survey has found that 22 per cent of Australians aged 14+ agree that all telcos are the same. The survey, which was carried out in the year to December 2015, also shows that 29 per cent of Dodo customers agree with this statement, compared with 21 per cent of Telstra customers and just 10 per cent of ALDImobile customers. Roy Morgan Research CEO Michele Levine says this simple question about whether all telecommunication companies are the same raises many interesting issues worthy of further investigation by telcos. It goes to the heart of the millions of dollars in expenditure on branding and advertising, pricing and special offers, product and service delivery.

CORPORATES
ROY MORGAN RESEARCH LIMITED, DODO AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, ALDIMOBILE, INTERNODE SYSTEMS PTY LTD, ADAM INTERNET PTY LTD, IINET LIMITED, AMAYSIM AUSTRALIA LIMITED – ASX AYS, WESTNET PTY LTD, VIRGIN MOBILE (AUSTRALIA) PTY LTD, IPRIMUS, SOUTHERN PHONE COMPANY LIMITED, VODAFONE AUSTRALIA LIMITED, BOOST MOBILE, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPM

Let TV stations trade spectrum: minister

roymorgansocial Leave a comment

Original article by Jake Mitchell
The Australian – Page: 21 : 11-Mar-16

Federal Communications Minister Mitch Fifield addressed the RadComms conference on 10 March 2016, where he outlined a proposal for TV broadcasters to share, lease or trade any spectrum that is surplus to their requirements. However, the proposal has been criticised by Australian Subscription Television & Radio Association CEO Andrew Main, who says free-to-air networks should not be "gifted" spare public spectrum and then profit from leasing it to other companies.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, FREE TV AUSTRALIA LIMITED, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Vanguard sees lower returns

roymorgansocial Leave a comment

Original article by Sally Patten
The Australian Financial Review – Page: 8 : 11-Mar-16

Vanguard Group CEO and chairman Bill McNabb is bearish about the outlook for global investment returns over the next decade. He expects returns to be around two per cent below the long-term average over this period, although he anticipates a subsequent upturn. Meanwhile, McNabb says there should be greater transparency regarding Australian superannuation funds’, while he argues that consolidation in the industry could also be used to put downward pressure on fees.

CORPORATES
THE VANGUARD GROUP INCORPORATED

PM ‘won’t blow’ iron ore bonus

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 11-Mar-16

The benchmark iron ore price has fallen below $US60 per tonne, although it remains significantly above the forecast of just $US39/tonne in the Australian Government’s mid-year Budget update. A sustained upturn in the price of the steel input could potentially boost government revenue by up to $A15bn over four years. However, government sources have indicated that the additional revenue will be used to reduce the deficit instead of financing larger tax cuts than the modest reduction that the Government is planning.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, RESERVE BANK OF NEW ZEALAND, EUROPEAN CENTRAL BANK, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION

Besieged bank vows to improve process

roymorgansocial Leave a comment

Original article by Michael Bennet
The Australian – Page: 7 : 11-Mar-16

The Commonwealth Bank has promised to thoroughly investigate recent allegations of unethical behaviour at its insurance business. Reports in the media outline allegations of doctors being under pressure to change their diagnoses of life insurance policyholders to match CommInsure’s commercial goals. Superannuation fund HESTA is reviewing its relationship with CommInsure.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COMMINSURE, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED

Record number of Australians employed in February as unemployment falls to 10%

roymorgansocial Leave a comment

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

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate fell from 10.3 per cent to 10 per cent in February 2016. The number of people in the workforce has risen to a record 13,174,000 (up 648,000 since February 2015), and a record 11,855,000 Australians are employed (up 710,000 in the last 12 months). Meanwhile, 1,161,000 people (8.8 per cent of the workforce) are under-employed. The official unemployment rate was four per cent in January 2016.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

‘Very messy end’ to the apartment boom predicted

roymorgansocial Leave a comment

Original article by Robert Harley
The Australian Financial Review – Page: 2 : 11-Mar-16

BIS Shrapnel’s MD Robert Mellor forecasts that Australian dwelling starts will peak in the March 2016 quarter, driven by growth in apartment developments. However, he has warned that the apartment boom is also approaching its peak, and New South Wales will be the only state that does not have a dwelling oversupply by 2016-17. Mellor forecasts that Melbourne and Brisbane will be hardest hit by the downturn in the apartments market.

CORPORATES
BIS SHRAPNEL PTY LTD