Author: roymorgansocial

‘We will cause misery’: vengeful Setka stands over AFL

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 12-Jun-24

The Construction, Forestry & Maritime Employees’ Union has called for the dismissal of the AFL’s head of umpiring, Stephen McBurney. The CFMEU’s Victorian state secretary John Setka says the union will not pursue outright strike action, but it is prepared to impose a "work to rule" campaign on league-related construction projects while McBurney remains in his role. He adds that this will result in delays and cost over-runs on projects such as the new AFL stadium in Hobart. McBurney is the former head of the Australian Building & Construction Commission, which actively targed the CFMEU over breaches of workplace laws prior to its abolition after Labor took office in 2022.

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, AUSTRALIAN FOOTBALL LEAGUE, AUSTRALIAN BULK ALLIANCE PTY LTD, AUSTRALIAN LABOR PARTY

Dutton delays climate target, blasts teals

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Jun-24

Opposition leader Peter Dutton says a Coalition government would scrap Labor’s legislated 2030 target to reduce carbon emissions by 43 per cent on 2005 levels. He contends that this target is not achievable and would result in higher power prices. Dutton adds that the Coalition will not release its alternative emissions reduction target until after the federal election, stating that it will take into account the "prevailing economic conditions" at the time. Dutton has also reiterated the Coalition’s support for a net zero emissions target of 2050. Meanwhile, he contends that teal MPs are out of touch with average families who are struggling to pay their power bills, and argues that some of them are essentially Greens.

CORPORATES
LIBERAL PARTY OF AUSTRALIA

Melbourne Institute & Roy Morgan – Taking The Pulse of the Nation: Australians are still feeling the financial pinch and are more vulnerable to potential unexpected costs

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Jun-24

Taking the Pulse of the Nation (TTPN) surveys the Australian population to capture their sentiments and behaviours related to current economic and social issues. Rising housing prices, utility bills, medical bills, and everyday expenses like food have been contributing to an increased risk in Australia for people becoming vulnerable and falling into poverty. Using the February TTPN survey data, we examine cost-of-living challenges based on residents in a high-, medium-, or low-poverty community. We find that regardless of community type, financial challenges remain high across the board. High and medium-poverty communities report higher rates of food challenges compared to low-poverty communities. For all other challenges (housing, utility bills, and medical needs) there is a high share of individuals across all communities reporting such challenges. The number of individuals reporting these types of challenges is higher compared to 2023. To view all Melbourne Institute – Roy Morgan Taking The Pulse of the Nation Reports visit the TTPN website portal: https://melbourneinstitute.unimelb.edu.au/data/ttpn.

CORPORATES
ROY MORGAN LIMITED, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Economy on track for soft landing: Chalmers

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Original article by Patrick Commins, Geoff Chambers
The Australian – Page: 4 : 12-Jun-24

Treasurer Jim Chalmers will use a speech on Wednesday to defend the federal government’s high-spending 14 May budget. He will contend that it would be irresponsible for the government to cut its expenditure too deeply in the current environment of flat economic growth and high interest rates. He will also state that Labor’s "more balanced approach" will bring inflation under control without "crunching the economy". Chalmers will in turn state that the government is "cautiously confident" that the economy will experience a ‘soft landing’.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

AICD warns of dangers from AI

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Original article by Glenda Korporaal
The Australian – Page: 18 : 12-Jun-24

The Australia Institute of Company Directors has released a new guidebook on artificial intelligence technology. Amongst other things, it advises company directors to examine the potential benefits and key risks associated with using AI within their organisation, while they should take action to ensure that the data that is being used by their company’s AI applications is ‘fit for purpose’. The AICD’s Mark Rigotti says directors may face significant commercial, reputational and regulatory damage if they lack sufficient oversight regarding the company’ use of AI.

CORPORATES
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS

Clashes to mar panda diplomacy

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Original article by Ben Packham
The Australian – Page: 1 & 5 : 12-Jun-24

The federal government has confirmed the itinerary for the official visit of Chinese Premier Li Qiang. He will arrive in Adelaide on Sunday, where he will attend a state lunch and visit Adelaide Zoo; Li is expected to announce that China will extend its loan of two pandas to the zoo, which is part of the nation’s policy of "panda diplomacy". Li will travel to Canberra on Monday for talks with Prime Minister Anthony Albanese, while they will both go to Perth on Tuesday to visit Fortescue’s hydrogen plant and a Chinese-backed lithium processing plant. There are concerns that Li’s official visit to Australia will be marred by disruptions caused by pro-China activists and human rights protestors.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ALP Government strengthens its two-party preferred lead over the Coalition to the largest for three months: ALP 53.5% cf. L-NP 46.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Jun-24

The Albanese Government has increased its two-party preferred lead over the Coalition: ALP 53.5% (up 1.5%) cf. Coalition 46.5% (down 1.5%). If a Federal Election were held now the ALP would be re-elected with an increased majority, the latest Roy Morgan survey shows. Support for the Government improved for a second straight week on a two-party preferred basis to its highest for over three months since the first week of March. For the second straight week the major States of New South Wales, Victoria and Queensland all swung to the ALP on a two-party preferred basis. The Albanese Government now leads clearly in NSW (56% cf. 44%) and Victoria (57.5% cf. 42.5%) and has narrowed the gap in Queensland (47% cf. 53%). Primary support for both major parties dropped this week. Support for the ALP was down 0.5% to 30.5% while support for the Coalition was down 1% to 35%. Looking at support for the minor parties shows support for the Greens increased 1.5% to 15.5%, support for One Nation was up 1% to 5.5%, support for Other Parties was down 1.5% to 4% and support for Independents was up 0.5% at 9.5%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Roy Morgan CEO Michele Levine comments on drop in support for the ALP in the latest Roy Morgan Poll on Federal Voting Intention

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Jun-24

The primary support for both major parties fell slightly this week. The main beneficiaries were the Greens (up 1.5% to 15.5%) and One Nation (up 1% to 5.5%). The strong protests by Greens supporters against Israel’s conduct in the war in Gaza over the last week, including with Greens Leader Adam Bandt addressing the crowd, have clearly been a factor behind the rising support for the Greens. This week’s results show over a third of Australian electors (34.5%) now supporting either a minor party or independent – up almost 3% points from the 2022 Federal Election (31.7%). The rising proportion of Australians supporting minor parties and independents increases the likelihood we will end up with a hung Parliament after the next Federal Election. However, the clear lead for the ALP this week means that if a Federal Election were held now the ALP would be re-elected with an increased majority.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Alumina bid gets the nod from expert

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Original article by Nick Evans
The Australian – Page: 19 : 12-Jun-24

An independent expert’s report from Grant Samuel has concluded that an all-scrip takeover offer for Alumina is ‘fair and reasonable’. Grant Samuel has indicated that Alcoa’s $4bn bid would deliver a substantial benefit for Alumina shareholders, who will control about 31.6 per cent of the merged group if the deal proceeds. However, the firm notes that Alumina shareholders will lose access to $493m worth of franking credits, although Alumina has not paid a dividend since June 2022. Shareholders are slated to vote on the deal in mid-July.

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, GRANT SAMUEL AND ASSOCIATES PTY LTD

Workers sacked after no offers made for Bonza

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Original article by Robyn Ironside
The Australian – Page: 17 : 12-Jun-24

Bonza’s administrator Hall Chadwick has advised that the failed airline’s entire workforce of 323 has been retrenched, while all future flights have been cancelled in order to give customers "certainty". Hall Chadwick partner Kathleen Vouris has revealed that the firm had received no offers for Bonza by the deadline of 7 June, although she said that a deal to sell the airline remains a possibility. Vouris also indicated that Bonza employees will not be able to access the federal government’s fair entitlements guarantee scheme until Hall Chadwick decides whether to liquidate the airline.

CORPORATES
BONZA AVIATION PTY LTD, HALL CHADWICK AUSTRALIA PTY LTD