Author: roymorgansocial

National lead down slightly over Labour/Greens opposition in New Year. TPP signing ceremony set for Auckland in two weeks a coup for PM John Key.

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 22-Jan-16

A New Zealand Roy Morgan Poll on voting intention has found that support for the ruling National Party has fallen by two per cent to 47 per cent in January 2016. Support for the Labour Party has fallen by one per cent to 27.5 per cent, while support for a potential Labour/Greens alliance is unchanged at 41.5 per cent. Meanwhile, the New Zealand Roy Morgan Government Confidence Rating has risen by three points to 131.5 points. Roy Morgan Research executive chairman Gary Morgan says that in a coup for Prime Minister John Key, Trade Minister Todd McClay has confirmed that the signing ceremony for the Trans-Pacific Partnership (TPP) will be in Auckland in early February. The TPP agreement to lower trade barriers should provide a significant boost to the New Zealand economy over the next few years, despite the continuing worries about a global economic slowdown.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, NATIONAL PARTY OF NEW ZEALAND, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, CONSERVATIVE PARTY OF NEW ZEALAND, THE MAORI PARTY, UNITED FUTURE PARTY (NEW ZEALAND), NEW ZEALAND FIRST PARTY, ACT NEW ZEALAND, INTERNET PARTY, MANA PARTY, NEW ZEALAND. DEPT OF THE PRIME MINISTER AND CABINET, NEW ZEALAND. MINISTRY OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP

Hipsters, Byron surfers boost Coopers in NSW

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Original article by Simon Evans
The Australian Financial Review – Page: 3 : 22-Jan-16

Data from the Australian Bureau of Statistics shows that beer consumption has fallen to its lowest level in more than six decades. Coopers Brewery MD Tim Cooper believes that beer sales will not rebound unless the Federal Government scraps the wine equalisation tax rebate. New South Wales accounted for 24.5 per cent of Coopers’ sales in 2015, while the brewer’s home state of South Australia accounted for 24.3 per cent of sales.

CORPORATES
COOPERS BREWERY LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Union goes power crazy

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Original article by Stephen Drill
Herald Sun – Page: 5 : 22-Jan-16

The 600 workers at AGL Energy’s Loy Yang power station and coal mine in Victoria are seeking a pay rise of 20 per cent over four years. The Construction, Forestry, Mining & Energy Union’s log of claims includes paying employees for the time it takes to walk from the car park to their workstations. It is estimated that the proposed wage rise would increase the average worker’s salary to $A180,000 a year for a four-day working week.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

Morrison vows strong changes to tax system

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Original article by Primrose Riordan
The Australian Financial Review – Page: 4 : 22-Jan-16

The GST and superannuation tax concessions may be the Australian Government’s tax reform agenda, while Treasurer Scott Morrison has indicated that the corporate tax rate may also be under scrutiny. Meanwhile, Morrison says recent financial market volatility is likely to influence the timing of the 2016 federal election, and will most likely rule out an early poll. Opposition Leader Bill Shorten has warned that increasing the GST in the wake of the sharemarket rout would hurt consumer confidence.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Taxpayers may yet have to prop up Palmer firm

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Original article by Mark Ludlow
The Australian Financial Review – Page: 3 : 22-Jan-16

Queensland Nickel administrator FTI Consulting will consider a range of restructuring options for the failed company, which operates the Yabulu refinery. Any restructuring strategy is likely to take several months to develop, but FTI has approached the State Government regarding options such as tax relief or a loan guarantee. Queensland Nickel’s owner, businessman Clive Palmer has indicated that he will not comment further on the collapse before the creditors’ meeting on 29 January 2016.

CORPORATES
QUEENSLAND NICKEL PTY LTD, FTI CONSULTING PTY LTD, AURIZON HOLDINGS LIMITED – ASX AZJ, AUSTRALIAN TAXATION OFFICE, SUNCORP GROUP LIMITED – ASX SUN, BANK OF QUEENSLAND LIMITED – ASX BOQ, QUEENSLAND. DEPT OF STATE DEVELOPMENT, TRADE AND INNOVATION, QUEENSLAND. TREASURY, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, COOLUM RESORT PTY LTD, BHP BILLITON LIMITED – ASX BHP

Woolworths struggles to hire CEO

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Original article by Michael Smith
The Australian Financial Review – Page: 1 : 22-Jan-16

An overseas candidate is likely to succeed Woolworths CEO Grant O’Brien, after no local executives expressed interest in the role. Woolworths is believed to have identified about five potential candidates from the UK, Europe and North America. Chairman Gordon Cairns had originally indicated that he aimed to install a new CEO by March 2016, but he has conceded that the selection process may take longer as overseas candidates are being interviewed in person rather than by video link.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD

Air New Zealand doubles down on Houston route

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Original article by Jamie Freed
The Australian Financial Review – Page: 24 : 22-Jan-16

Air New Zealand will face competition on the New Zealand-US route from mid-2016, when American Airlines and United Airlines commence flights on the route. Meanwhile, Air NZ has reduced its capacity on the Auckland-Los Angeles and Auckland-San Francisco routes in response to strong demand for airfares for its recently launched flights between Auckland and Houston. The carrier will offer five flights on the route each week from March.

CORPORATES
AIR NEW ZEALAND LIMITED – ASX AIZ, AMERICAN AIRLINES INCORPORATED, UNITED AIR LINES INCORPORATED, QANTAS AIRWAYS LIMITED – ASX QAN, MACQUARIE EQUITIES LIMITED, JETSTAR AIRLINES PTY LTD, CHINA EASTERN AIRLINES CORPORATION LIMITED, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH

Woodside takes $1.7bn hit as oil prices slump

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Original article by Matt Chambers
The Australian – Page: 17 : 22-Jan-16

Oil and gas producer Woodside Petroleum has reported revenue of $US1.105bn for the December 2015 quarter, which is 37 per cent lower than the same period in 2014. Revenue for the full year also fell by 37 per cent to $US4.5bn, due to the downturn in the crude oil price. Woodside has advised that its full-year accounts will be marred by asset write-downs of up to $US1bn ($A1.2bn). Its shares closed $A0.39 lower at $A25 on 21 January 2016.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP BILLITON LIMITED – ASX BHP, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, OIL SEARCH LIMITED – ASX OSH, APACHE CORPORATION, DEUTSCHE BANK AG

Rate cut in near future seen as unlikely

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Original article by Vanessa Desloires, Jessica Sier
The Australian Financial Review – Page: 27 : 22-Jan-16

The general consensus of Australian economists is that the Reserve Bank will leave the cash rate unchanged in February 2016. Shane Oliver of AMP is the only economist out of 14 who believes that recent financial market volatility could result in an interest rate cut. He adds that the upcoming release of inflation data for the December 2015 quarter is likely to be the deciding factor. Meanwhile, the ANZ Bank’s chief economist Warren Hogan expects the cash rate to be cut in May and August.

CORPORATES
RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, HSBC AUSTRALIA HOLDINGS PTY LTD, BLOOMBERG LP, AUSTRALIAN BUREAU OF STATISTICS, BETASHARES CAPITAL LIMITED, BANK OF CANADA, MERRILL LYNCH (AUSTRALIA) PTY LTD, RBC CAPITAL MARKETS, CITIGROUP PTY LTD

South32 cuts its debts further

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Original article by Paul Garvey
The Australian – Page: 18 : 22-Jan-16

South32’s net debt fell to $US115m in the December 2015 quarter, after it repaid $US81 million worth of debt during the period. The BHP Billiton spin-off’s debt had exceeded $US400m at the start of 2015-16, and Paul McTaggart of Credit Suisse forecasts that it will have no debt at the end of the financial year. Meanwhile, South32 has reported that its metallurgical coal output fell by 41 per cent during the second quarter, while manganese production was 37 per cent lower.

CORPORATES
SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, CREDIT SUISSE (AUSTRALIA) LIMITED