Author: roymorgansocial

Ownership laws set to face cabinet test

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Original article by Jake Mitchell, Darren Davidson
The Australian – Page: 23 : 22-Feb-16

Communications Minister Mitch Fifield is expected to present proposed cross-media ownership reforms to Cabinet on 22 February 2016, with legislation likely to be tabled in Parliament in mid-March. The reforms are likely to include the abolition of the "reach rule" and the "two-out-of-three" rule, although there may be no changes to the anti-siphoning list for sports broadcasts. The reforms are also likely to include measures to ensure that regional broadcasters continue to provide local content in the event of mergers in the sector.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, YOUTUBE INCORPORATED, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, STAN ENTERTAINMENT PTY LTD, NATIONAL PARTY OF AUSTRALIA

Evolution cash flow lift allows dividend plan

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Original article by Tess Ingram
The Australian Financial Review – Page: 28 : 19-Feb-16

Listed gold producer Evolution Mining has posted a 2015-16 interim net loss of $A15.5m, compared with a profit of $A43.1m previously. The result was marred by factors such as acquisition costs and accounting adjustments. The group’s underlying profit of $A107.9m was 150 per cent higher than previously, and revenue rose by 87 per cent to $A607.1m. Investors will receive an unfranked interim dividend of $A0.01 per share.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, RBC CAPITAL MARKETS, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, INDEPENDENCE GROUP NL – ASX IGO

South32 eyes Anglo’s manganese

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Original article by Peter Ker
The Australian Financial Review – Page: 20 : 19-Feb-16

Australian-listed South32 has indicated that it would be interested in buying out its manganese joint venture partner, Anglo American. South32 holds a 60 per cent stake in the mining and smelting operation, and a spokesman says the group would be willing to assume full ownership at an appropriate price. Anglo American has signalled its intention to sell a significant number of assets, including coking coal mines in Queensland.

CORPORATES
SOUTH32 LIMITED – ASX S32, ANGLO AMERICAN PLC, UBS HOLDINGS PTY LTD, ROYAL BANK OF CANADA, BANK OF AMERICA CORPORATION

Battery boom heats lithium gains for Australian miners

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Original article by David Stringer, Martin Ritchie
The Australian Financial Review – Page: 28 : 19-Feb-16

Shares in Australian-listed lithium miners have rallied on the strength of the rising price of lithium carbonate and growing demand for lithium ion batteries. General Mining Corporation’s share price has risen by 1,000 per cent over the last 12 months, while Pilbara Minerals has gained about 1,200 per cent since mid-2014. Citigroup expects both demand for lithium carbonate and the price of the commodity to keep rising beyond 2016.

CORPORATES
GENERAL MINING CORPORATION LIMITED – ASX GMM, PILBARA MINERALS LIMITED – ASX FTN, CITIGROUP INCORPORATED, CHENGDU TIANQI INDUSTRY (GROUP) COMPANY LIMITED, ALBERMARLE CORPORATION, TESLA MOTORS INCORPORATED, NISSAN MOTOR COMPANY LIMITED, RENAULT AUTOMATION SA, VOLKSWAGEN AG, AUDI AG, BENCHMARK MINERAL INTELLIGENCE, NAVIGANT CONSULTING PTY LTD

Origin shareholders hit with dividend cut

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 21 : 19-Feb-16

Shares in Origin Energy closed 8.7 per cent higher at $A4.23 on 18 February 2016, despite posting a 2015-16 interim loss of $A254m. The result was marred by a sharp decline in the crude oil price, which has impacted on Origin’s LNG project in Queensland. Origin’s underlying profit for the half-year fell from $A346m to $A254m. Shareholders will receive an interim dividend of $A0.10 per share, compared with $A0.25 previously.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, CONTACT ENERGY LIMITED – ASX CEN, JP MORGAN AUSTRALIA LIMITED, CITIGROUP PTY LTD, ALLAN GRAY AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION

Foxtel’s revenue jumps in first half

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Original article by Jake Mitchell
The Australian – Page: 22 : 19-Feb-16

Pay-TV group Foxtel recorded 7.4 per cent growth in broadcast subscriber numbers during the first half of 2015-16, while its total subscriber base rose by 8.1 per cent. Foxtel’s EBIT for the half-year was 7.7 per cent lower at $A434m, although revenue rose by 5.5 per cent to $A1.66bn. The company’s subscriber churn rate fell from 11.4 per cent to 10.2 per cent.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, PRESTO ENTERTAINMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, ENGLISH PREMIER LEAGUE, SINGTEL OPTUS PTY LTD, CBS CORPORATION, SHOWTIME

Negative gearing cap tipped to push up rents

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Original article by James Eyers
The Australian Financial Review – Page: 19 : 19-Feb-16

Mortgage Choice has posted a 2015-16 interim net profit of $A10.1m, which is 12.4 per cent higher than previously. The mortgage broker’s revenue rose by 5.4 per cent to $A102.3m, and its loan book increased by 4.7 per cent to a record $A50.7bn. CEO John Flavell has warned that the Federal Government’s proposed changes to the negative gearing regime would result in rent increases, as it would reduce the pool of rental housing.

CORPORATES
MORTGAGE CHOICE LIMITED – ASX MOC, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, AUSTRALIAN LABOR PARTY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Roadshow, Foxtel in battle against piracy

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 19-Feb-16

Australian-listed Village Roadshow and a group of Hollywood studios want local ISPs to block access to a file-sharing website called SolarMovie. They will pursue action in the Federal Court under the Copyright Amendment (online infringement) Act. Pay-TV group Foxtel is also relying on the statute in a bid to block access to websites that allow people to download pirated copies of its TV shows.

CORPORATES
VILLAGE ROADSHOW LIMITED – ASX VRL, FOXTEL MANAGEMENT PTY LTD, FEDERAL COURT OF AUSTRALIA, TELSTRA CORPORATION LIMITED – ASX TLS, SEVEN WEST MEDIA LIMITED – ASX SWM, DISNEY STUDIOS, 21ST CENTURY FOX INCORPORATED, WARNER BROS, PARAMOUNT STUDIOS, UNIVERSAL STUDIOS, SONY PICTURES ENTERTAINMENT, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPM, DODO INTERNET PTY LTD, PRESTO ENTERTAINMENT PTY LTD, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SCREEN PRODUCERS AUSTRALIA, COMMUNICATIONS ALLIANCE LIMITED

TPG and Optus speak the right language to win over recent migrants joining Australian home phone market

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 18-Feb-16

A Roy Morgan Single Source survey has found that seven per cent of Australians aged 14+ (1.4 million people) have lived in the country for five years or less, and 45 per cent of these recent migrants have a home phone. The survey, which was carried out in the year to December 2015, also shows that TPG has a 30.1 per cent share of the home phone market among recent migrants, ahead of Telstra (32.9 per cent) and Optus (16.3 per cent). Meanwhile, 19.7 per cent of home phone customers speak a language other than English at home, but 63.3 per cent of TPG’s home phone customers have English as a second language.

CORPORATES
ROY MORGAN RESEARCH LIMITED, TPG TELECOM LIMITED – ASX TPM, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, IINET LIMITED, DODO AUSTRALIA PTY LTD

Rise in jobless to cut interest rates

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Original article by Adam Creighton
The Australian – Page: 1 & 5 : 19-Feb-16

Official data shows that Australia’s unemployment rate rose from 5.8 per cent to six per cent in January 2016. However, the participation rate was steady at 65.2 per cent. Meanwhile, part-time employees now account for a record 31.2 per cent of the workforce. The jobless rate in New South Wales was 0.3 per cent higher at 5.5 per cent, while unemployment in Victoria increased by 0.3 per cent to 6.3 per cent. Tim Toohey of Goldman Sachs says the jobs data will strengthen the case for further interest rate cuts, and he expects two rate cuts in 2016.

CORPORATES
GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. FEDERAL RESERVE BOARD