Author: roymorgansocial

Cutting company tax good for workers, business leaders insist

roymorgansocial Leave a comment

Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 8 : 2-Mar-16

Business Council of Australia president Catherine Livingston has told a roundtable forum of the need for structural reform of the tax system to stimulate economic growth. She also argued the case for reducing the corporate tax rate to bring it in line with the tax rate for small businesses. The roundtable was organised by "The Australian Financial Review" and the BCA. The other participants included Commonwealth Bank CEO Ian Narev, Qantas CEO Allan Joyce and Wesfarmers CEO Richard Goyder.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, QANTAS AIRWAYS LIMITED – ASX QAN, WESFARMERS LIMITED – ASX WES, COCA-COLA AMATIL LIMITED – ASX CCL, TELSTRA CORPORATION LIMITED – ASX TLS, ASX LIMITED – ASX ASX, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Roy Morgan Research CEO Michele Levine on the ABC’s "Q&A"

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 1-Mar-16

The panellists on the 29 January 2016 edition of the ABC panel discussion program hosted by Tony Jones are Roy Morgan Research CEO Michele Levine; Liberal Party of Australia MP Bruce Billson; the former Speaker of the House of Representative, Anna Burke; Australian Christian Lobby MD Lyle Shelton; and the former president of the Australian Medical Association, Kerryn Phelps. They debate the important issues of the day and respond to questions from audience members and viewers at home.

CORPORATES
ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN CHRISTIAN LOBBY, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIAN BROADCASTING CORPORATION

NAB Challenge satisfies NAB customers

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 1-Mar-16

A Roy Morgan Single Source survey has found that 82 per cent of National Australia Bank customers aged +14 who "occasionally" watch NAB Challenge games during the AFL’s pre-season are very or fairly satisfied with the bank, while the satisfaction level among those who "almost always" watch NAB Challenge matches is 88 per cent. Meanwhile, 80.2 per cent of National Australia Bank customers overall were satisfied with the bank during the six months to December 2015.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN FOOTBALL LEAGUE

Banks give Slaters two months

roymorgansocial Leave a comment

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 1 & 8 : 1-Mar-16

Australian-listed law firm Slater & Gordon has posted a 2015-16 interim loss of $A958m. The result was marred by write-downs associated with the purchase of the professional services division of UK-based Quindell in 2015. The firm’s debt has blown out to $A740m, and its lenders have set a deadline of 30 April 2016 to secure a refinancing deal. Slater & Gordon could face the prospect of bankruptcy within 12 months if it cannot renegotiate its loans.

CORPORATES
SLATER AND GORDON LIMITED – ASX SGH, QUINDELL PLC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, MAURICE BLACKBURN PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, VGI PARTNERS PTY LTD

Harvey Norman takes a look at Dick Smith’s Move stores

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 1-Mar-16

The financial accounts of Dick Smith Holdings show that it posted a loss of $A60.5m in November 2015 and $A100.3m in December. Meanwhile, rival retailer Harvey Norman has indicated that it might be interested in taking over Dick Smith’s four Move stores that are located at airports. Executive chairman Gerry Harvey says he usually shuns airport stores due to high rents and overheads, adding that he would only be interested in taking over the Move leases if the stores are profitable.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, MOVE, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, FERRIER HODGSON AND COMPANY, SYDNEY AIRPORT – ASX SYD, CLIVE PEETERS, RICK HART DISCOUNTS

More pain before big miners execute M&A

roymorgansocial Leave a comment

Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 1-Mar-16

A growing number of large Australian mining companies are looking to capitalise on the downturn in commodity prices to pursue acquisitions. South32 CEO Graham Kerr says many companies are likely to be reluctant to offload distressed assets, adding that the real impact of lower commodity prices is unlikely to be felt for another six months. Kerr acknowledges that South32’s healthy balance sheet means it is better-placed that many rivals to seek acquisitions, but he stresses that the group will not rush into any deals.

CORPORATES
SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD

Top women closing gap on pay as earnings hit $580k

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 2 : 1-Mar-16

Data from the Australian Taxation Office shows that the three per cent of taxpayers in the highest marginal tax bracket accounted for nearly 30 per cent of the total income tax paid in fiscal 2014. Meanwhile, the average salary of male CEOs and directors rose by 10 per cent to $A667,000 during the financial year, while the average salary of their female counterparts increased by 20 per cent to $A580,000. Medical specialists and financial industry professionals were also among those with the highest incomes.

CORPORATES
AUSTRALIAN TAXATION OFFICE

‘Spending cuts must fund tax relief’

roymorgansocial Leave a comment

Original article by David Crowe
The Australian – Page: 2 : 1-Mar-16

Federal Treasurer Scott Morrison has told a meeting of Coalition MPs of the need to reduce income taxes over the long-term, stressing that this must be achieved via spending cuts in the Budget. Meanwhile, backbenchers expressed concern about proposed changes to the negative gearing regime for property investors, with one MP warning that any such reforms will be rejected by the party room. Morrison also said Prime Minister Malcolm Turnbull is fully prepared to seek a double-dissolution election.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY

MPs fall in line on media reforms

roymorgansocial Leave a comment

Original article by David Crowe
The Australian – Page: 4 : 1-Mar-16

The Australian Government’s bill to change cross-media ownership laws is expected to be submitted to Parliament on 1 March 2016, if the reforms are endorsed by the Coalition’s party room. The reforms have already been approved by the Coalition’s backbench communications committee. The Opposition supports abolition of the "reach rule", although it may seek to block scrapping the "two-out-three rule" in the Senate. The reforms are likely to prompt consolidation among Australian TV broadcasters.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, LIBERAL DEMOCRATIC PARTY, PALMER UNITED PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

ASX200 payout slide set to dwarf counterparts

roymorgansocial Leave a comment

Original article by Vesna Poljak
The Australian Financial Review – Page: 30 : 1-Mar-16

A number of companies in the benchmark S&P/ASX 200 have increased their dividends in 2015-16, despite the financial market volatility. However, Hasan Tevfik of Credit Suisse expects the combined dividend payout of S&P/ASX 200 companies to fall from $A79bn in 2014-15 to just $A73bn. Meanwhile, the total capital returned to shareholders will be boosted by share buybacks.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CREDIT SUISSE (AUSTRALIA) LIMITED, BHP BILLITON LIMITED – ASX BHP, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA