Author: roymorgansocial

Carnell laments IR reform inertia

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Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 11-Mar-16

Australian Chamber of Commerce & Industry CEO Kate Carnell stepped down on 10 March 2016 after two years in the role. Carnell describes the Federal Government’s lack of action on the issue of industrial relations reform has her biggest failure during her tenure. She says the IR system is too complex, restrictive and inflexible, and it must be overhauled to reflect workplaces of the future. Carnell will become the federal small business ombudsman.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN FOOD AND GROCERY COUNCIL, AUSTRALIAN GENERAL PRACTICE NETWORK LIMITED, BEYOND BLUE AUSTRALIA PTY LTD

Subsidy won’t generate target

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Original article by Ben Potter
The Australian Financial Review – Page: 8 : 10-Mar-16

Insufficient investment in wind and solar energy generation will make it difficult for Australian to reach the Renewable Energy Target (ERT). According to Bloomberg New Energy Finance, 532 megawatts of new wind and solar projects are under construction, which is less than a tenth of the capacity required to meet the RET. The Federal Government may need to renegotiate the target with the Opposition.

CORPORATES
BLOOMBERG LP, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE ENVIRONMENT

Coles slammed over pay rorts

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Original article by Michael Owen
The Australian – Page: 4 : 10-Mar-16

Australia’s Fair Work Ombudsman Natalie James has criticised Coles for failing to ensure that supermarket trolley collectors employed by sub-contractors were being paid their full wages. She says large companies can expect to be held accountable for wage exploitation in all levels of the supply chain. The FWO has successfully prosecuted two trolley collection businesses that underpaid staff in Adelaide. Coles has also agreed to provide the employees with substantial back pay.

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA, STARLINK OPERATIONS GROUP PTY LTD

In hock to the world as debt tops $1 trillion

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Original article by Adam Creighton
The Australian – Page: 6 : 10-Mar-16

National accounts data shows that Australia’s total foreign debt has risen to more than 60 per cent of GDP, compared with just 37 per cent in 1996. Foreign debt has risen from $A180bn to more than $A1trn in the last two decades. The Australian Labor Party’s treasury spokesman, Chris Bowen, notes that public sector debt has blown out from $A90bn to $A250bn since Barnaby Joyce was dropped as finance spokesman when the Coalition was in opposition.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, LF ECONOMICS

Judge slams CFMEU’s ‘thuggery’

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Original article by Ewin Hannan
The Australian Financial Review – Page: 9 : 10-Mar-16

Federal Circuit Court judge Salvatore Vasta has imposed a penalty of $A9,000 on union official Scott Vink. The Construction, Forestry, Mining & Energy Union must pay $A48,000. Justice Vasta said that Vink’s behaviour towards non-union members was "sheer thuggery". Vink was found to have breached the Fair Work Act when he verbally abused non-CFMEU members on a building site in Brisbane on 5 March 2014.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL CIRCUIT COURT OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, FAIR WORK BUILDING AND CONSTRUCTION, FRANKIPILE AUSTRALIA PTY LTD

Double-D plus six: PM’s poll options narrowing

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Original article by Phillip Hudson
The Australian – Page: 1 & 6 : 10-Mar-16

Prime Minister Malcolm Turnbull is believed to favour 2 June as the date for the federal election if he opts for a double-dissolution poll. It is the day after changes to the voting system for the Senate are due to take effect. However, Turnbull is likely to have few alternative options for the election date, with 3 September regarded as the most likely date for a half-Senate election. Factors such as the Olympic Games and football grand finals will influence the timing of the poll.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN GREENS, NEWSPOLL, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, LIBERAL PARTY OF AUSTRALIA

Rate of investor home loans plummets

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 10-Mar-16

Figures from the Australian Bureau of Statistics show that total lending to residential property investors fell by 14.8 per cent to a seasonally adjusted $A11.36 billion in January 2016. This is the fastest rate of decline in seven years. Total lending to owner-occupiers increased by 15.9 per cent in the 12 months to January 2016.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, HSBC AUSTRALIA HOLDINGS PTY LTD, MIRVAC GROUP – ASX MGR, AMP CAPITAL INVESTORS LIMITED, UBS HOLDINGS PTY LTD

China tips iron ore price to slip back to $US40

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Original article by Perry Williams
The Australian Financial Review – Page: 24 : 10-Mar-16

The iron ore price rose above $US63 per tonne on 7 March 2016, but Li Xinchuang of the China Iron & Steel Association does not expect this to be sustained. Li forecasts that the price of the steel input will retreat to around the $US40/tonne level in the near-term, arguing that there has not been sufficient change in demand and supply to support current pricing. Li adds that Chinese regulators may oppose a potential alliance between Fortescue Metals Group and Vale on competition grounds.

CORPORATES
CHINA IRON AND STEEL ASSOCIATION, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, CHINA METALLURGICAL INDUSTRY PLANNING AND RESEARCH INSTITUTE, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, MOODY’S INVESTORS SERVICE INCORPORATED

Fortescue’s Vale deal good for costs, but concerns remain

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Original article by Amanda Saunders, James Thomson
The Australian Financial Review – Page: 19 & 24 : 10-Mar-16

Iron ore miner Fortescue Metals Group aims to reduce its cash costs to $US13 per tonne by mid-2016, having slashed its cost of production from about $US32/tonne to around $US16 in the last year. The proposed iron ore blending joint venture with Brazilian rival Vale may allow Fortescue to further reduce its cash costs. Paul Young of Deutsche Bank notes that Chinese competition regulators may oppose the alliance, although Fortescue CEO Nev Power is confident that this will not be an issue.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, DEUTSCHE BANK AG, CLSA AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, JEFFERIES AND COMPANY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI

When you’re hot, you’re…icy?! Frozen drinks a hit with young Aussies

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Mar-16

A Roy Morgan Single Source survey has found that the proportion of Australians aged 14+ who consume frozen drinks in an average seven days rose from 2.2 per cent (or 415,000 people) to 3.3 per cent (637,000 people) between January 2013 and December 2015. The proportion of Australians who consume carbonated soft drinks has fallen from 49.2 per cent to 47.6 per over this period, while the proportion who drink fruit juice has fallen from 28.5 per cent to 26.5 per cent. The survey also shows that 72.9 per cent of people who consume frozen drinks are aged under 35 years old.

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ROY MORGAN RESEARCH LIMITED