Author: roymorgansocial

ABC ups pay to lure Google exec as managing director

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Original article by Dominic White
The Australian Financial Review – Page: 10 : 16-Dec-15

The ABC has declined to comment on reports that Michelle Guthrie will succeed MD Mark Scott. Guthrie is currently Google’s MD of agency relationships for the Asia-Pacific region, and is based in Singapore. She has extensive experience in the Australian and international media industry, including roles at Foxtel, BSkyB and Hong Kong-based Star TV. It is believed that Guthrie will be paid an annual salary of about $A1m, compared with Scott’s remuneration of $A823,613 in 2013-14.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, GOOGLE INCORPORATED, FOXTEL MANAGEMENT PTY LTD, BSKYB, STAR TV, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. REMUNERATION TRIBUNAL, PROVIDENCE EQUITY PARTNERS INCORPORATED, ALLENS

Price fall no bar to Rio plans

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Original article by Matt Chambers
The Australian – Page: 18 : 15-Dec-15

Rio Tinto will press ahead with plans to increase its low-cost iron ore production capacity by 20 million tonnes over the next few years, despite the downturn in the iron ore price. A spokesman argues that any move by Australian iron ore producers to reduce output will allow overseas rivals to gain market share at the expense of local miners. Fortescue Metals Group founder Andrew Forrest has again called for Rio Tinto and BHP Billiton to reduce their iron ore production.

CORPORATES
RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, VALE SA, UBS HOLDINGS PTY LTD, ROY HILL IRON ORE PTY LTD

Satisfaction with big four banks dips further in November

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 14-Dec-15

A Roy Morgan Research Single Source survey shows that the satisfaction level of the personal customers of Australia’s four major banks fell by 0.5 per cent to 80.4 per cent in the six months to November 2015. The Commonwealth Bank continued to have the highest customer satisfaction rating of the four major banks, at 81.7 per cent, which is 0.7 per cent lower than previously. It also had the highest satisfaction rating among the home loan customers of the big four banks, at 80.1 per cent. Smaller banks had the highest level of customer satisfaction overall, at 86.6 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, TEACHERS MUTUAL BANK LIMITED, SUNCORP BANK, BENDIGO BANK, ING DIRECT

Vicinity to sell up to $1b of mall assets

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Original article by Nick Lenaghan, Mercedes Ruehl
The Australian Financial Review – Page: 33 : 15-Dec-15

Australian-listed Vicinity Centres plans to divest between $A750m and $A1bn worth of shopping centres during the next 12 months. Proceeds of the asset sales will be used to reduce debt, finance acquisitions and be reinvested in the redevelopment of its other assets. Vicinity has identified one bulky goods property in Queensland that it intends to sell, and CEO Angus McNaughton has flagged an exit from this asset class.

CORPORATES
VICINITY CENTRES – ASX VCX, NOVION PROPERTY GROUP, CHADSTONE SHOPPING CENTRE, WARRIEWOOD SHOPPING CENTRE

Nurofen range to be pulled over claims

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Original article by Patrick Hatch
The Australian Financial Review – Page: 3 : 15-Dec-15

The Federal Court has ruled that Reckitt Benckiser misled consumers by claiming that its Nurofen painkillers are specially formulated to treat specific medical conditions. The Australian Competition & Consumer Commission took legal action after alleging that each Nurofen product contains the same active ingredient. Reckitt Benckiser has been given three months to withdraw the specific-pain products from sale, but it will be allowed to keep marketing them for 12 months provided the packaging indicates that the products can be used to treat other types of pain.

CORPORATES
RECKITT BENCKISER (AUSTRALIA) PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. THERAPEUTIC GOODS ADMINISTRATION

STW merges with WPP Australia and New Zealand, creating $1b firm

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 15-Dec-15

Shares in STW Communications Group closed 1.4 per cent higher at $A0.735 in response to a merger with the Australian and New Zealand division of WPP Group. The merged entity will retain its Australian sharemarket listing and will comprise around 75 businesses in the marketing and advertising sector. STW CEO Mike Connaghan will head the new entity, which will boast annual revenue of $A847m. WPP will hold a 61 per cent stake in the company.

CORPORATES
STW COMMUNICATIONS GROUP LIMITED – ASX SGN, WPP GROUP PLC, MEDIACOM AUSTRALIA PTY LTD, GEORGE PATTERSON Y&R PTY LTD, MEC (AUSTRALIA) PTY LTD, SINGLETON, OGILVY AND MATHER HOLDINGS PTY LTD, CAVENDISH SQUARE, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

NBN boosts satellite services for the bush

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Original article by David Ramli
The Australian Financial Review – Page: 4 : 15-Dec-15

NBN Co has introduced new download allowances for people using the national broadband network’s satellite service. From 2016, they will be allowed to download up to 75 gigabytes per month during peak periods and an extra 75 gigabytes during non-peak periods. For NBN users connected to fixed-wireless or fixed-line networks, download limits are determined by their ISPs.

CORPORATES
NBN CO LIMITED

Turnbull dodges bullet, Nationals left red-faced

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 15-Dec-15

Liberal Party of Australia backbencher Ian Macfarlane has signalled that he may quit Parliament after his attempt to defect to the National Party was thwarted. The Liberal National Party of Queensland’s state executive voted 14-12 to prevent him from resigning from the federal Liberal Party to join the National Party. Macfarlane was dropped from the frontbench when Malcolm Turnbull replaced Tony Abbott as Prime Minister.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIAN LABOR PARTY

Woolies, Coles and Aldi caught up in child labour scandal

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Original article by Sarah Danckert
The Australian Financial Review – Page: 5 : 15-Dec-15

Australian supermarket groups Coles, Woolworths and Aldi will review their supply chains after revealing that they source frozen prawns from a Thailand-based company that has been accused of using forced labour. It is also alleged that Thai Union uses child labour at a prawn peeling factory in the city of Samut Sakhon. Thai Union is one of the world’s largest seafood suppliers.

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, THAI UNION FROZEN PRODUCTS PUBLIC COMPANY LIMITED, INDEPENDENT GROCERS OF AUSTRALIA, METCASH LIMITED – ASX MTS, GREENPEACE INTERNATIONAL, ASSOCIATED PRESS, THAILAND. DEPT OF FISHERIES, INTERNATIONAL LABOUR ORGANIZATION

House price growth will wane, says report

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 11 : 15-Dec-15

Domain Group’s "State of the Market" report forecasts that residential property prices in Australia’s capital cities will rise by 2-5 per cent in 2016. House prices are tipped to rise by four per cent in Sydney and five per cent in Melbourne, following growth of around 20 per cent and 12 per cent respectively in 2015. Senior economist Andrew Wilson expects renewed interest among property investors in 2016, citing factors such as negative gearing and the high yield relative to other investment options.

CORPORATES
DOMAIN.COM.AU, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SQM RESEARCH PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MORTGAGE CHOICE LIMITED – ASX MOC, AUSTRALIAN BUREAU OF STATISTICS, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED