Author: roymorgansocial

Murdoch’s media pay least tax

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 9 : 6-Jan-16

Data from the Australian Taxation Office shows that 10 media companies paid no income tax in Australia in 2014. Eight of these companies are either owned or partly-owned by members of the Murdoch family. These include Ten Network, Nova Entertainment and two companies owned by News Corporation. Nine Entertainment Company and BBC Worldwide Australia Holdings also paid no tax in 2014, while Fairfax Media’s total tax bill for the year was $A16m.

CORPORATES
AUSTRALIAN TAXATION OFFICE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NOVA ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BBC WORLDWIDE AUSTRALIA HOLDINGS, FAIRFAX MEDIA LIMITED – ASX FXJ, FOXTEL MANAGEMENT PTY LTD, NEWS AUSTRALIA HOLDINGS PTY LTD, NEWS AUSTRALIA INVESTMENTS PTY LTD, NEWS PAY TV FINANCING PTY LTD, 21ST CENTURY FOX INCORPORATED, APN NEWS AND MEDIA LIMITED – ASX APN, REA GROUP LIMITED – ASX REA, FOXTEL HOLDINGS PTY LTD, XYZNETWORKS PTY LTD, FOX FILMED ENTERTAINMENT AUSTRALIA PTY LTD, SHINE AUSTRALIA HOLDINGS PTY LTD

Law firms in hunt for Singapore tie-ups

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Original article by Marianna Papadakis
The Australian Financial Review – Page: 7 : 5-Jan-16

Australian law firms are seeking partners in Asian business centres such as Shanghai, Singapore, Hong Kong, Seoul and Tokyo. Herbert Smith Freehills (HSF) has formed an alliance with Singaporean firm Prolegis. HSF’s south-east Asia managing partner Alastair Henderson says Singaporean law is increasingly being used in other Asian countries, including India and Indonesia.

CORPORATES
HERBERT SMITH FREEHILLS PTY LTD, PROLEGIS, DWYER CONSULTING PTY LTD, EATON CAPITAL PARTNERS, BEATON CAPITAL PTY LTD

Ford, Holden hit wall

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Original article by Joshua Dowling
Herald Sun – Page: 6 : 5-Jan-16

Preliminary new car sales data shows that Toyota retained its title as the biggest-selling car brand in Australia in 2015. The Corolla was the largest-selling car for the third year in a row, although heavy discounting saw the Camry become the nation’s top-selling car for December. Meanwhile, Ford has recorded its worst annual performance since 1966, with an 11.6 per cent decline in sales, while GM Holden’s sales fell by 2.9 per cent to a 22-year low.

CORPORATES
TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, GM HOLDEN LIMITED, FORD MOTOR COMPANY AUSTRALIA LIMITED, MAZDA AUSTRALIA PTY LTD, MERCEDES-BENZ AUSTRALIA PTY LTD, HYUNDAI MOTOR COMPANY AUSTRALIA PTY LTD, MITSUBISHI MOTORS AUSTRALIA LIMITED

BHP begins payout plan for Brazil mine victims

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Original article by Barry FitzGerald
The Australian – Page: 16 : 5-Jan-16

Samarco has commenced paying compensation to the families of victims of the iron ore tailings dam disaster in Brazil, and families that have had to be relocated. Samarco, which is jointly owned by BHP Billiton and Vale, has accepted legal liability for the disaster and the resulting compensation claims. However, a Brazilian court has ruled that BHP and Vale must also bear responsibility for environmental remediation.

CORPORATES
SAMARCO MINERACAO SA, BHP BILLITON LIMITED – ASX BHP, VALE SA

Two more years of pain for Perth

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 5 : 5-Jan-16

Residential property values in Perth declined in the fourth quarter of 2015, according to the CoreLogic RP Data Home Value Index, although home prices rose during December. Meanwhile, Satterley Property Group founder Nigel Satterley expects Perth’s residential market to continue to struggle over the next two years. Satterley Property Group typically sells 2,500-3,000 housing lots in Perth each year, but this is forecast to fall to 1,800-2,000 in 2016.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, THE SATTERLEY PROPERTY GROUP PTY LTD, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA

Amaysim shares surge on $70m Vaya takeover

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Original article by Ruth Liew
The Australian Financial Review – Page: 15 : 5-Jan-16

Amaysim currently boasts 718,000 mobile telephone subscribers, and the acquisition of online-only telco Vaya will increase its customer base by around 140,000. CEO Julian Ogrin says the $A70m deal will assist the growth strategy of Amaysim, which is aiming for one million customers by 2019. Ogrin anticipates further consolidation in the mobile phone market in 2016. Amaysim shares closed 20 per cent higher at $A2.75 on 4 January.

CORPORATES
AMAYSIM AUSTRALIA LIMITED – ASX AYS, VAYA PTY LTD, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPM, IINET LIMITED, VOCUS COMMUNICATIONS LIMITED – ASX VOC, M2 GROUP LIMITED – ASX MTU, TELSTRA CORPORATION LIMITED – ASX TLS, VODAFONE AUSTRALIA LIMITED

Call for tax breaks to put us on the big screen

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Original article by Leo Shanahan
The Australian – Page: 17 : 5-Jan-16

Australia’s uncompetitive tax rebate system for the film industry has prompted expatriate producer Andrew Banks to shot feature film "Submergence" in Germany, Spain and Kenya. Banks says the film could have been made in Australia if the tax incentives for local productions were more attractive. He notes that the tax breaks for the film industry are significantly higher in countries such as the UK, New Zealand and Canada.

CORPORATES
LILA 9TH PRODUCTIONS, NATIONAL INSTITUTE OF DRAMATIC ARTS, THE OLD TOTE THEATRE COMPANY, TEN NETWORK HOLDINGS LIMITED – ASX TEN, RATPAC ENTERTAINMENT

Avatar’s 3D pricing denies the Force a box-office record

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Original article by Michael Bodey
The Australian – Page: 17 : 5-Jan-16

The Australian box office takings of "Star Wars: The Force Awakens have topped $A69m, eclipsing "Titanic" as the second-highest grossing film on record. However, "Avatar" is likely to remain the highest-grossing film in Australia, as it benefited from the higher cost of tickets for 3D cinemas when it was released in 2009. Globally, the new Star Wars film is currently the six-highest grossing film of all time, with box office takings of $US1.51bn.

CORPORATES
PIXAR

Apartment plan raises fears for Skipping Girl sign

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Original article by Lucy Battersby
The Age – Page: 5 : 5-Jan-16

Salta Properties is seeking council approval for an apartment project at 647 Victoria Street in the inner Melbourne suburb of Abbotsford. There are concerns that the proposed apartment tower will adversely affect views of the iconic Skipping Girl Vinegar sign, which has been a local landmark for decades. Salta MD Sam Tarascio argues that previous buildings on the site had a greater impact on views of the neon sign.

CORPORATES
SALTA PROPERTIES PTY LTD, CITY OF YARRA, COLLINGWOOD HISTORICAL SOCIETY, NATIONAL TRUST OF AUSTRALIA (VICTORIA), AGL ENERGY LIMITED – ASX AGL

Dick Smith bankers call in receivers

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Original article by John Durie, Kylar Loussikian
The Australian – Page: 14 & 16 : 5-Jan-16

Dick Smith Holdings went into voluntary administration on 4 January 2016, after the listed consumer electronics retailer’s shares were placed in a trading halt. National Australia Bank and HSBC have also appointed receivers from Ferrier Hodgson to the embattled group. Dick Smith shares were trading at $A0.35 on 31 December 2015, having reached a low of $A0.20 earlier in the month. The company was listed on the sharemarket at $A2.20 in late 2013.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, HSBC AUSTRALIA HOLDINGS PTY LTD, FERRIER HODGSON AND COMPANY, LION NATHAN LIMITED, GEORGE WESTON FOODS LIMITED, WILLIAM ROBERTS LAWYERS, MYER HOLDINGS LIMITED – ASX MYR, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, FORAGER FUNDS MANAGEMENT PTY LTD, ANCHORAGE CAPITAL PARTNERS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, CREDIT SUISSE (AUSTRALIA) LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA