Author: roymorgansocial

Malcolm in muddle over cabinet reshuffle delay

roymorgansocial Leave a comment

Original article by Sid Maher
The Australian – Page: 1 & 6 : 11-Feb-16

The Australian Government is likely to make changes to its frontbench team after Trade Minister Andrew Robb revealed that he will not contest the next election. Robb is likely to remain in Cabinet in the near-term, as he is holding free-trade negotiations. National Party Leader and Deputy Prime Minister Warren Truss also intends to retire, although he is not expected to stand down until Parliament adjourns in mid-March ahead of the May 2016 Budget.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN FEDERAL POLICE, CHINA NATIONAL METALS AND MINERALS IMPORT EXPORT COMPANY, AUSTRALIAN HUMAN RIGHTS COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

ALP narrows gap following GST discussions – ALP up 2.5% to 47.5% cf. L-NP down 2.5% to 52.5%

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 9-Feb-16

A multi-mode Morgan Poll on Federal voting intention has found that support for Australia’s ruling Liberal-National Coalition on a two-party preferred basis has fallen by 2.5 per cent to 52.5 per cent. The poll, which was carried out on the weekends of 30-31 January and 6-7 February 2016, also shows that the Coalition’s primary vote is unchanged at 43.5 per cent, while the Roy Morgan Government Confidence Rating has fallen by 0.5 points to 112.5. Roy Morgan Research executive chairman Gary Morgan says that arguing about what sort of taxation reforms the Turnbull Government should undertake such as increasing the GST is pointless as it completely ignores the booming "cash economy", which is especially concentrated in personal services, building and construction, retail and hospitality. Instead of arguing about whether to increase the tax burden on all Australians, the Government should be promoting a significant restructuring of Australia’s costly and restrictive industrial relations laws. The "red tape" that surrounds working conditions in Australia – including high weekend and public holiday penalty rates – discourages businesses from employing more people and contributing to a growing and more productive economy.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, KATTER’S AUSTRALIAN PARTY, PALMER UNITED PARTY, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan Consumer Confidence stabilising for now at 111.4

roymorgansocial Leave a comment

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

The ANZ-Roy Morgan Consumer Confidence rating for Australia rose by 0.2 per cent to 111.4 in the week ended 7 February 2016, breaking the declining trend in confidence seen over the previous four weeks. The recent weakness has left confidence below its long-run average levels. However, the latest result may suggest that concerns around financial market volatility have abated somewhat. The sub-index on "finances in the next 12 months" has fallen by 1.3 per cent, and the sub-index on "economic conditions in the next 12 months" has fallen by 1.7 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

IEA head warns low oil prices may threaten energy security

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 10-Feb-16

The International Energy Agency’s executive director, Fatih Birol, says investment in oil production is expected to fall by 16 per cent in 2016, following a 20 per cent downturn in 2015. He has warned that some higher-cost projects may be delayed or put on hold if the crude oil price remains at current levels. This in turn could increase reliance on oil from the Middle East, where geopolitical tensions could affect global oil supply. Birol also noted that Australia’s LNG projects will benefit global energy security in the long-term.

CORPORATES
INTERNATIONAL ENERGY AGENCY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

The ayes have it: companies wave goodbye to show-of-hands voting

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 21 : 10-Feb-16

The Australian Council of Superannuation Investors believes that companies should use a poll rather than the show-of-hands system to vote on resolutions at AGMs. It is estimated that about 20 per cent of Australia’s top 200 listed companies still use the traditional show-of-hands, although this methods is now used by less than 10 per cent of top-100 companies. Lobbying by TIAA-CREF has convinced many large companies that used a show-of-hands at their 2014 AGM to abandon the practice.

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, TEACHERS INSURANCE AND ANNUITY ASSOCIATION – COLLEGE RETIREMENT EQUITIES FUND, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AUSTRALIA. CORPORATIONS AND MARKETS ADVISORY COMMITTEE

Engineer ‘turned off’ Telstra net

roymorgansocial Leave a comment

Original article by David Ramli
The Australian Financial Review – Page: 1 & 11 : 10-Feb-16

Telstra will offer its mobile customers free data on 14 February 2016 to compensate for an outage which took its mobile networks offline for about three hours. The telco will undertake an investigation into the outage, which occurred when a Telstra engineer accidentally switched off a core node without complying with the appropriate procedures. COO Kate McKenzie has given assurances that a similar incident will not occur again. The outage also affected emergency services and companies that use Eftpos terminals.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, CABCHARGE AUSTRALIA LIMITED – ASX CAB, WESTERN AUSTRALIA. DEPT OF FIRE AND EMERGENCY SERVICES, AUSTRALIA. PRODUCTIVITY COMMISSION, POLICE FEDERATION OF AUSTRALIA

Scott drops a farewell bombshell on SBS

roymorgansocial Leave a comment

Original article by Michael Bodey
The Australian – Page: 3 : 10-Feb-16

ABC MD Mark Scott has told a Senate estimates hearing that the focus of SBS has shifted from its original role of a multicultural broadcaster to one offering more general interest content. He argued that there is now less distinction between the ABC and SBS, and said the Federal Government could eventually consider merging them. Meanwhile, Scott has indicated that the ABC will seek an extra $A25m to $A30m per year in its triennial funding package to increase its investment in regional and rural content.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Fair Work decision exposes IR flaws: BHP

roymorgansocial Leave a comment

Original article by Elizabeth Colman
The Australian – Page: 4 : 10-Feb-16

BHP Billiton has criticised the Fair Work Commission for ruling that union officials can hold meetings with employees of the Caval Ridge mine at a dragline cabin rather than the site’s meal-break room. BHP argues that the ruling will adversely affect productivity at the Queensland mine. The dragline cabins are 2.4km from the mine’s meal-break room. The Fair Work Act was amended in 2013 to specify that union officials must hold meetings in meal-break rooms.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIA. FAIR WORK COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT

Sevior digs resources again but wary of BHP

roymorgansocial Leave a comment

Original article by Matthew Smith
The Australian Financial Review – Page: 15 & 20 : 10-Feb-16

Cash holdings account for some $A1bn worth of the $A5bn-plus investment portfolio of Airlie Funds Management at present. Founder John Sevior is keen to return to the equities market when valuations fall further, and Airlie could potentially be fully invested again by the end of 2016. Sevior intends to gain exposure to resources stocks, having shunned the sector since 2012, but he has ruled out buying BHP Billiton’s shares unless its progressive dividend policy is scrapped.

CORPORATES
AIRLIE FUNDS MANAGEMENT PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WOODSIDE PETROLEUM LIMITED – ASX WPL, OIL SEARCH LIMITED – ASX OSH, ORIGIN ENERGY LIMITED – ASX ORG, SANTOS LIMITED – ASX STO, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, DULUXGROUP LIMITED – ASX DLX, SUNCORP GROUP LIMITED – ASX SUN, PREMIER INVESTMENTS LIMITED – ASX PMV, HENDERSON GLOBAL INVESTORS LIMITED, HENDERSON GROUP PLC – ASX HGG, CALTEX AUSTRALIA LIMITED – ASX CTX, PERPETUAL INVESTMENTS

Goldman upbeat, we won’t get a recession

roymorgansocial Leave a comment

Original article by Vanessa Desloires
The Australian Financial Review – Page: 32 : 10-Feb-16

Modelling by investment bank Goldman Sachs suggests that there is a 25 per cent chance that developed economies will experience a recession in the next 12 months. This compares with the historical average of 28 per cent. The risk of Australia experiencing a recession is just 13 per cent, while the long-term average is 23 per cent. Goldman Sachs chief economist Jan Hatzius argues that the recent volatility in global financial markets presents an opportunity for risk-averse investors.

CORPORATES
THE GOLDMAN SACHS GROUP INCORPORATED, TAILORED INVESTMENT SOLUTIONS PTY LTD, RESERVE BANK OF AUSTRALIA, MONTGOMERY INVESTMENT MANAGEMENT PTY LTD, WILSON ASSET MANAGEMENT