Author: roymorgansocial

Mad Max cleans up on Hollywood’s night of nights

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Original article by Max Mason
The Australian Financial Review – Page: 7 : 1-Mar-16

George Miller’s "Mad Max: Fury Road" dominated the 2016 Academy Awards, winning in six of the 10 categories in which it was nominated. The film won Oscars for film editing, costume design, sound editing, sound mixing, production design, and best make-up and hair styling. "Mad Max: Fury Road" had a budget of $US150m and boasts gross box-office takings of $US377.6m.

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VILLAGE ROADSHOW LIMITED – ASX VRL, WARNER BROS, RAT PAC-DUNE ENTERTAINMENT, KENNEDY MILLER MITCHELL PRODUCTIONS PTY LTD, FOX STUDIOS AUSTRALIA PTY LTD

No ‘Big Short’ house price crash in auction results

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 3 : 29-Feb-16

Preliminary data shows that Sydney’s residential property market boasted an auction clearance rate of 73.3 per cent on the weekend of 27-28 February 2016, with 872 homes going under the hammer. The clearance rate in Melbourne was 75 per cent, with 1,327 properties up for sale. CoreLogic RP Data notes that the combined capital city clearance rate was higher than 70 per cent for the fourth week in a row.

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CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN PROPERTY MONITORS PTY LTD, VARIANT PERCEPTION, APT CAPITAL MANAGEMENT PTY LTD, LF ECONOMICS

Fat margins drive gold output to 12-year high

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Original article by Barry FitzGerald
The Australian – Page: 18 : 29-Feb-16

A survey by Surbiton Associates shows that total gold production in Australia rose by two tonnes in 2015, to 285 tonnes, or 9.16 million ounces. Production also increased by one tonne year-on-year in the December quarter, to 73 tonnes. Surbiton’s Sandra Close expects gold production to remain strong in 2016, with several mines resuming operation.

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SURBITON ASSOCIATES PTY LTD, METALS X LIMITED – ASX MLX, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, BLACKHAM RESOURCES LIMITED – ASX BLK, BARCLAYS BANK PLC

BHP coalmine on the brink as profits dive

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Original article by Matt Chambers
The Australian – Page: 18 : 29-Feb-16

BHP Billiton’s Mount Arthur mine in New South Wales currently produces about 10 per cent of the thermal coal that is exported from Australia each year. However, BHP CEO Andrew Mackenzie recently signalled that production at the mine could potentially be suspended unless there is a rebound in the coal price. The price of thermal coal was trading at almost $US150 per tonne in 2011, but Goldman Sachs recently forecast that it will average just $US48/tonne in 2016.

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BHP BILLITON LIMITED – ASX BHP, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, SOUTH32 LIMITED – ASX S32

Super union could ‘lock up the nation’

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Original article by Ewin Hannan
The Australian Financial Review – Page: 1 &4 : 29-Feb-16

Master Builders Australia CEO Wilhelm Harnisch says a proposed merger between the Construction, Forestry, Mining & Energy Union and the Maritime Union of Australia could have significant implications for industrial relations. Federal Employment Minister Michaelia Cash has also expressed concern about the merger’s potential impact on jobs, productivity and the economy. Meanwhile, MUA national secretary Paddy Crumlin has flagged further merger with other unions if the deal with the CFMEU proceeds.

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CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF EMPLOYMENT, TRANSPORT WORKERS’ UNION, AUSTRALIAN RAIL, TRAM AND BUS INDUSTRY UNION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN TRANSPORT UNION FEDERATION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY

Higher dollar not enough to kill RBA’s chill

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Original article by Vanessa Desloires, Mark Mulligan
The Australian Financial Review – Page: 3 : 29-Feb-16

There is general consensus among economists that the Reserve Bank will leave the cash rate unchanged at two per cent on 1 March 2016. Shane Oliver of AMP Capital is among the economists who expect an interest rate cut at some point in 2016. Meanwhile, the Commonwealth Bank’s Michael Blythe does not expect the central bank to resume "jawboning" the Australian dollar in its monetary policy statement, despite its recent rise to a seven-week high.

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RESERVE BANK OF AUSTRALIA, AMP CAPITAL INVESTORS LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NOMURA AUSTRALIA LIMITED, BETASHARES CAPITAL LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, HSBC AUSTRALIA HOLDINGS PTY LTD, ST GEORGE BANK LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF JAPAN

Fairfax’s Hywood reassures nervous investors on print

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Original article by Dominic White
The Australian Financial Review – Page: 30 : 29-Feb-16

Fairfax Media CEO Greg Hywood has downplayed concerns that the group could discontinue the print editions of its metropolitan newspapers. He argues that in addition to revenue from advertising and subscribers, newspapers allow Fairfax to boost audiences for digital assets such as Domain and Drive. He adds that any shift to a digital-only model would not have a significant financial impact on Fairfax, due to the cost savings achieved in its print business in recent years.

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FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, DRIVE.COM.AU, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Amazon may use ex-Top Gear presenters’ show to launch SVOD here

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Original article by Dominic White, John McDuling
The Australian Financial Review – Page: 2 : 29-Feb-16

US-based Amazon has declined to comment on speculation that it plans to enter Australia’s subscription video-on-demand market. Industry sources have suggested that the group could launch the Amazon Prime Instant Video service in Australia later in 2016, to capitalise on the popularity of former "Top Gear" presenters Jeremy Clarkson, Richard Hammond and James May. They will soon host a new show for Amazon, which could opt to sell the local broadcasting rights to a rival SVOD provider.

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AMAZON.COM INCORPORATED, AMAZON PRIME, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, PRESTO ENTERTAINMENT PTY LTD, BRITISH BROADCASTING CORPORATION, MACQUARIE GROUP LIMITED – ASX MQG, THE BOOK DEPOSITORY LIMITED, DAI POST PTY LTD, AUSTRALIAN CONSUMERS’ ASSOCIATION

Fifield allays fears over media diversity

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Original article by Dominic White
The Australian Financial Review – Page: 30 : 29-Feb-16

The Coalition’s party room will be asked to endorse proposed changes to cross-media ownership laws on 1 March 2016, after the reforms were approved by Cabinet. Meanwhile, Communications Minister Mitch Fifield has downplayed the Opposition’s concerns that the reforms could increase News Corp Australia’s market power in the local media sector. He has also ruled out merging the ABC and SBS, and says TV broadcasting licence fees are being reviewed as part of the Budget process.

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AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, LIBERAL PARTY OF AUSTRALIA

Tax policy and poll to come early

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 29-Feb-16

The federal Cabinet’s expenditure review committee is likely to discuss the Australian Government’s tax reform policy in the first week of March 2016, with the aim of releasing details of the tax package in early April. Prime Minister Malcolm Turnbull says tax reforms cannot be rushed, and details of the proposed changes will be announced ahead of the Budget in May. There is growing speculation that the Government will opt for a double-dissolution election in July.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. EXPENDITURE REVIEW COMMITTEE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY