Author: roymorgansocial

$50m share raid puts Nine takeover in picture ahead of sector reforms

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Original article by Darren Davidson, Jake Mitchell
The Australian – Page: 19 & 22 : 4-Mar-16

Shares in Nine Entertainment Company closed 3.42 per cent higher at $A1.51, amid revelations that an unknown buyer purchased 3.4 per cent of its shares via Deutsche Bank. The $A50m transaction was executed at $A1.60 per share, prompting speculation that Nine may become a takeover target. Fairfax Media has been touted as a potential suitor if cross-media ownership laws are relaxed, but the group has downplayed such speculation.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, DEUTSCHE BANK AG, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, DOMAIN.COM.AU, WIN CORPORATION PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, STAN ENTERTAINMENT PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

House-boom paradox may signal a structural change

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Original article by Robert Harley
The Australian Financial Review – Page: 42 : 3-Mar-16

CoreLogic has identified a paradoxical trend in the real estate market in Australia. Since 2003, the value of housing sales has risen by more than 30 per cent in Sydney and Melbourne while the number of sales has declined by nearly 20 per cent. In 2015, 482,000 houses and apartments were sold, worth a record $A293 billion. In 2003, more than 621,000 properties were sold, worth $A200 billion.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

Super funds push for more ESG disclosure

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Original article by Ruth Liew
The Australian Financial Review – Page: 22 : 3-Mar-16

Australian-listed companies are under pressure to report more thoroughly their environmental, social and governance (ESG) practices. On 2 March 2016, the Australian Council of Superannuation Investors (ACSI) and the Financial Services Council launched a new guide on corporate disclosure of ESG information to shareholders. Research by ACSI suggests that the ESG disclosure practices of ASX 200 companies are inadequate.

CORPORATES
FINANCIAL SERVICES COUNCIL, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

PM urges business to seize China opportunity

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 3-Mar-16

Prime Minister Malcolm Turnbull says Australian companies should seek to capitalise on the opportunities created by China’s transition to a consumer-focused economy. Turnbull has identified industries such as tourism and service as ones that can benefit from Australia’s growing trade relations with China, particularly as China’s demand for industrial commodities declines.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA CHINA BUSINESS COUNCIL, RESERVE BANK OF AUSTRALIA

700 jobs to go as Rio strips its costs

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Original article by Matt Chambers
The Australian – Page: 20 : 3-Mar-16

Rio Tinto has declined to comment on media reports which suggested that it plans to shed between 500 and 700 workers at its iron ore mines in Western Australia. The job cuts are part of its goal to reduce global costs by $US2bn ($A2.6bn) over the next two years. Rio Tinto previously reduced its Western Australian iron ore headcount by 800 in 2015, and its costs have been slashed by $US6.2bn over the last three years.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Roy Morgan Readership results for New Zealand Newspapers and Magazines in 2015

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Mar-16

Roy Morgan Research has released its New Zealand Print Readership results for Newspapers and Magazines in the 12 months to December 2015. The "New Zealand Herald" remains the country’s most-read daily newspaper, with 549,000 readers per average issue (down 10.9 per cent compared with 2014). "AA Directions" remains the most-read magazine, with 554,000 readers per average issue (up 8.6 per cent), while "New Zealand Woman’s Day" is the most popular title on newsstands (up 5.2 per cent to 406,000 readers per average issue).

CORPORATES
ROY MORGAN RESEARCH LIMITED

No ‘girls club’ in the top boardrooms

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Original article by Damon Kitney
The Australian – Page: 19 & 22 : 3-Mar-16

An Australian Council of Superannuation Investors report in 2015 showed that women accounted for almost 40 per cent of the directors who were appointed by S&P/ASX 100 companies in the previous 12 months. However, about 50 per cent them already held directorships at other companies. Australian Institute of Company Directors chair Elizabeth Proust rejects suggestions of a "girls club" at ASX 100 companies, but she advises against women stepping down from executive roles in order to become non-executive directors.

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, STANDARD AND POOR’S ASX 100 INDEX, PERPETUAL LIMITED – ASX PPT, SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, WESTPAC BANKING CORPORATION – ASX WBC, BANK OF MELBOURNE LIMITED, NESTLE AUSTRALIA LIMITED, KKR AND COMPANY LP, SINCLAIR KNIGHT MERZ PTY LTD, McALEESE LIMITED – ASX MCS, PREMIER INVESTMENTS LIMITED – ASX PMV, BRADKEN LIMITED – ASX BKN, DOWNER EDI LIMITED – ASX DOW, PACIFIC BRANDS LIMITED – ASX PBG, ALE PROPERTY GROUP – ASX LEP, CARDNO LIMITED – ASX CDD, ANSELL LIMITED – ASX ANN, SEEK LIMITED – ASX SEK, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, MYER HOLDINGS LIMITED – ASX MYR, FORTESCUE METALS GROUP LIMITED – ASX FMG, CROWN RESORTS LIMITED – ASX CWN

Spending spree lifts economy to highest speed in two years

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Original article by Adam Creighton
The Australian – Page: 1 & 6 : 3-Mar-16

The latest GDP data shows that the Australian economy grew by 0.6 per cent in the December 2015 quarter, and by three per cent year-on-year. The general consensus of economists was for annual growth of just 2.5 per cent. Economic growth was boosted by an increase in government and consumer spending, although the household savings rate fell to a post-global financial crisis low of 7.6 per cent. The stronger-than-expected economic growth rate will reduce the chances of further official interest rate cuts in the near-term.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, UBS HOLDINGS PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RIO TINTO LIMITED – ASX RIO, GROUP OF SEVEN (G-7), ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Tatts in $540m court shock

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 3-Mar-16

Shares in Tatts Group shed 4.35 per cent to close at $A3.74 on 2 March 2016, after the High Court ruled in the Victorian Government’s favour in a dispute over the termination of the company’s poker machine licence. The court ordered Tatts to repay a total of $A540m which it had been awarded as compensation by a previous court ruling in 2014. The latest judgment has prompted speculation that Tatts could seek to revive merger talks with rival Tabcorp, although Tatts CEO Robert Cooke recently said this is not on the agenda.

CORPORATES
TATTS GROUP LIMITED – ASX TTS, HIGH COURT OF AUSTRALIA, TABCORP HOLDINGS LIMITED – ASX TAH, UBET

Energy M&A on rise as new players emerge

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 24 : 3-Mar-16

Herbert Smith Freehills partner Rob Merrick says expectations that the downturn in the crude oil price will be sustained may prompt consolidation in the global oil and gas industry. Many Australian-listed energy groups announced asset writedowns during the February 2016 reporting season, but Merrick says they are at less risk of being forced sellers of assets than their overseas peers. The law firm says private equity firms, pension funds and infrastructure funds may actively pursue oil and gas industry acquisitions.

CORPORATES
HERBERT SMITH FREEHILLS PTY LTD, ROYAL DUTCH SHELL PLC, BG GROUP PLC, WOODSIDE PETROLEUM LIMITED – ASX WPL, SENEX ENERGY LIMITED – ASX SXY, SANTOS LIMITED – ASX STO, MITSUI AND COMPANY LIMITED, APACHE CORPORATION, FIRST OIL EXPRO LIMITED, THE BLACKSTONE GROUP LP, THE CARLYLE GROUP, OAKTREE CAPITAL MANAGEMENT LLC, NATIONAL GRID TRANSCO