Author: roymorgansocial

Fifield building support for reform

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 8-Feb-16

Communications Minister Mitch Fifield is said to be hoping to introduce cross-media ownership reforms to Parliament in March 2016, ahead of the Budget in May. Fifield has held meetings with the crossbench senators and is optimistic that they will support his push to scrap the "reach rule" and the " two-out-of-three rule". However, any reduction in TV broadcasting licence fees and changes to the anti-siphoning list for sports events are likely to be included in the Budget.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NATIONAL PARTY OF AUSTRALIA

Contingency fees allow more billing alternatives, firms say

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Original article by Marianna Papadakis
The Australian Financial Review – Page: 35 : 5-Feb-16

Some Australian law firms are introducing alternative billing options due to pressure from clients, although most firms still use billable hours. The bi-annual law partnership survey of "The Australian Financial Review" indicates that firms such as Gadens, Clayton Utz, Gilbert + Tobin and Baker & McKenzie have billable targets of between six and seven hours a day. Johnson Winter & Slattery does not have billable hours targets because of the risk of compromising the quality of legal work.

CORPORATES
JOHNSON WINTER AND SLATTERY, GADENS LAWYERS, CLAYTON UTZ, GILBERT AND TOBIN LAWYERS, CORRS CHAMBERS WESTGARTH, BAKER AND McKENZIE, QUINN EMANUEL URQUHART AND SULLIVAN LP, HWL EBSWORTH PTY LTD, PIPER ALDERMAN

Tide turns away from private schooling

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Original article by Tim Dodd
The Australian Financial Review – Page: 3 : 5-Feb-16

New data suggests a shift towards public schools among Australian parents. Figures from the Australian Bureau of Statistics indicate that 65.09 per cent of children were in public schools in 2015, compared with 65.05 per cent in 2014. Trevor Cobbold, of Save Our Schools, says parents are becoming increasingly aware that private schools are not necessarily better than state schools.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, SAVE OUR SCHOOLS INCORPORATED

Government losing appetite for GST hike

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Original article by Phillip Coorey, Primrose Riordan
The Australian Financial Review – Page: 3 : 5-Feb-16

Prime Minister Malcolm Turnbull says a push to increase the GST will only proceed if it can be demonstrated to have positive economic effects, such as creating jobs and lifting productivity. Meanwhile, a growing number of Federal Government MPs and senators have reservations about increasing the GST. Liberal Senator Cory Bernardi has vowed to vote against the Government on any bill to increase the tax, while MP Russell Broadbent says the Government has not presented a compelling case for a tax increase.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Pimco forecasts slow year but no recession

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 28 : 5-Feb-16

Mihir Worah and Geraldine Sundstrom of Pimco believe that the seven-year bull run is over and volatility will be a characteristic of financial markets in 2016. They also warn that investors can expect a period of lower returns, while the crude oil price is forecast to reach $US50 per barrel by the end of the year. Meanwhile, Pimco forecasts that the global inflation rate will rise to between 1.75 per cent and 2.25 per cent, although it has downplayed the prospect of a recession.

CORPORATES
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC, UNITED STATES. FEDERAL RESERVE BOARD

Don’t touch negative gearing, MPs warned

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 5-Feb-16

The Property Council of Australia stresses the importance of negative gearing for housing. It will argue in a submission to the joint standing committee on economics’ inquiry into tax deductibility that negative gearing should be retained in its current form. The Property Council has warned that it could mobilise negatively geared voters in marginal seats to persuade politicians to leave negative gearing unchanged.

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY

Satisfaction with big four banks up in December as home loan customers recover

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Feb-16

A Roy Morgan Research Single Source survey has found that the satisfaction level of the personal customers of Australia’s four major banks rose by 0.5 per cent to 80.9 per cent in the six months to December 2015. The Commonwealth Bank continued to have the highest customer satisfaction rating of the four major banks, at 82.4 per cent, which is 0.7 per cent higher than previously. It also had the highest satisfaction rating among the home loan customers of the big four banks, at 80.6 per cent. Smaller banks had the highest level of customer satisfaction overall, at 87 per cent, while the mutual sector’s customer satisfaction rating was 91.2 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BENDIGO BANK, TEACHERS MUTUAL BANK LIMITED

Roy Morgan Newspaper Print Readership and Cross-Platform Audience Results for December 2015

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Feb-16

Roy Morgan Research has released its Print Readership and seven-day Cross-Platform Audience results for Australian newspapers for the year to December 2015. Readership of the weekday edition of "The Age" has fallen by 16.1 per cent, while readership of the Saturday and Sunday editions fell by 15.4 per cent and 19 per cent respectively. However, readership of the weekend edition of "The Australian Financial Review" increased by 25.2 per cent. "Smart Investor" had the highest growth in readership of newspaper inserted magazines. Meanwhile, 10 of the 14 major mastheads expanded their digital reach in 2015, as more Australians accessed newspaper content via website or app. Roy Morgan Research CEO Michele Levine says Ro Morgan Audiences is a game-changing new tool that can measure and evaluate unique digital audiences across devices, and provide owners and advertisers with twice-daily updates on who has been reached, how many times, via which of their devices.

CORPORATES
ROY MORGAN RESEARCH LIMITED

South32 takes $2.4bn hit, signals job cuts

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Original article by Paul Garvey
The Australian – Page: 20 : 5-Feb-16

Shares in South32 rose by 14.2 to $A1.085 on 4 February 2016, as it flagged plans to significantly reduce costs. The BHP Billiton spin-off will scale back capital expenditure and production at its manganese mines in South Africa, which will result in the loss of 620 jobs. South32 has also indicated that it is likely to pursue job cuts in Australia, while its financial accounts will include $US1.7bn ($A2.4bn) worth of write-downs.

CORPORATES
SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, MORGANS FINANCIAL LIMITED, CONSOLIDATED MINERALS LIMITED, QUEENSLAND NICKEL PTY LTD, GRANGE RESOURCES LIMITED – ASX GRR, MOUNT GIBSON IRON LIMITED – ASX MGX, SHAW RIVER MANGANESE LIMITED – ASX SRR

RIP for CSG as AGL exits

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Original article by Matt Chambers
The Australian – Page: 19 : 5-Feb-16

AGL Energy will write down the value of its coal seam gas assets by $A795m after announcing that it will cease all gas exploration and production. AGL will not proceed with the $A1bn Gloucester CSG project in New South Wales, while it will terminate production at the Camden project 12 years ahead of schedule in 2023. MD Andy Vesey has attributed the decision to exit the gas sector to factors such as the fall in commodity prices and lower demand for gas in New South Wales.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, SANTOS LIMITED – ASX STO, THE GREENS NSW INCORPORATED, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, ARROW ENERGY LIMITED, ROYAL DUTCH SHELL PLC, PETROCHINA COMPANY LIMITED, ENERGYAUSTRALIA PTY LTD