Author: roymorgansocial

CFMEU officials charged with blackmail against Boral

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian Financial Review – Page: 1 & 4 : 7-Dec-15

Construction, Forestry, Mining & Energy Union officials John Setka and Shaun Reardon will appear in the Melbourne Magistrates’ Court on 8 December 2015. They face potential jail sentences of up to 15 years after Victorian police charged them with blackmail. The charges relate to an industrial dispute with Grocon, which resulted in building materials group Boral being subject to black bans. It will be alleged that Setka threatened to escalate the bans on Boral unless it ceased supplying cement to Grocon.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, GROCON PTY LTD, BORAL LIMITED – ASX BLD, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, ACTU, AUSTRALIAN LABOR PARTY, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, NATIONAL UNION OF WORKERS, MELBOURNE MAGISTRATES’ COURT

$US40 separates iron ore virtuosos from the pack

roymorgansocial Leave a comment

Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 4-Dec-15

BHP Billiton and Rio Tinto are in a much better position than their rivals to weather the downturn in the iron ore price. The break-even price for both groups is currently around $A29 per tonne, while Fortescue Metals Group’s break-even price is estimated to be about $A36 at present. However, the iron ore price has now fallen below the break-even point of most smaller Australian-listed producers. Meanwhile, UBS believes that Vale has reduced its break-even price from around $US39 to $US36 in the last six months.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, GRANGE RESOURCES LIMITED – ASX GRR, BC IRON LIMITED – ASX BCI, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, ARRIUM LIMITED – ASX ARI, ROY HILL IRON ORE PTY LTD, ANGLO AMERICAN PLC, UBS HOLDINGS PTY LTD, ABERDEEN ASSET MANAGEMENT LIMITED, PILBARA MINERALS LIMITED – ASX FTN

Iron ore extends losing run to five

roymorgansocial Leave a comment

Original article by Daniel Palmer
The Australian – Page: Online : 4-Dec-15

The price of benchmark iron ore for immediate delivery to the port of Tianjin in China has fallen by 0.7 per cent to $US40.30 per tonne. The price of the steel input has fallen in 35 out of the last 39 trading sessions and Daniel Hynes of the ANZ Bank says it is high likely to fall below $US40/tonne. The Australian Government’s 2015 Budget forecasts were based on an average iron ore price of $US48/tonne, but this is expected to be scaled back to about $US40/tonne in the mid-year Budget update.

CORPORATES
PORT OF TIANJIN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ROY HILL IRON ORE PTY LTD, VALE SA, MINE LIFE PTY LTD

Roy Hill yield delayed in shipping

roymorgansocial Leave a comment

Original article by Sarah-Jane Tasker, Andrew Burrell
The Australian – Page: 21 : 4-Dec-15

The first shipment of iron ore from Gina Rinehart’s Roy Hill project in Western Australia was slated to leave on 4 December 2015. However, Roy Hill has advised that the departure of the cargo ship will be delayed by a week due to the requirements of the Port Hedland Port Authority. The iron ore price is edging towards $US40 per tonne, compared with around $US120 a tonne when work on the Roy Hill project commenced. Meanwhile, the Sydney Mining Club has named Rinehart its Miner of the Decade.

CORPORATES
ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, SYDNEY MINING CLUB, PORT HEDLAND PORT AUTHORITY

Goody two shoes: where Aussie women buy their footwear

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 3-Dec-15

A Roy Morgan Single Source has found that 1.9 million Australian women (or 19.2 per cent) bought footwear in an average four-week period during the year to June 2015. This compares with 1.7 million in the previous year. The survey also shows that 10.9 per cent of all women who buy shoes in any given four-week period do so at Kmart, ahead of Big W (9.3 per cent), Target and Rivers (4.8 per cent apiece). Meanwhile, almost 20 per cent of women aged 18-24 buy shoes from Kmart, while Big W is the most popular store for female shoe-buyers aged 25-34, at 13.9 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, KMART AUSTRALIA LIMITED, BIG W DISCOUNT STORES, TARGET AUSTRALIA PTY LTD, RIVERS (AUSTRALIA) PTY LTD, SPENDLESS SHOES PTY LTD, THE ATHLETE’S FOOT AUSTRALIA PTY LTD, MYER HOLDINGS LIMITED – ASX MYR

Health funds serve wish-lists to Ley

roymorgansocial Leave a comment

Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 4-Dec-15

Australian private health insurers must lodge submissions on the Federal Government’s review of the sector by 4 December 2015. Health insurers have proposed the introduction of a lifetime discount for people under the age of 30, in order to encourage a greater take-up rate among young people. Insurers are also concerned that the annual cost of medical devices and prostheses is significantly higher than it should be.

CORPORATES
BUPA AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, AUSTRALIA. DEPT OF HEALTH

Target super literacy, says Deloitte

roymorgansocial Leave a comment

Original article by Sally Rose
The Australian Financial Review – Page: 17 : 4-Dec-15

Russell Mason of Deloitte notes that some trustees of superannuation funds voluntarily undertake a course for financial product advisers, but he argues that it should be compulsory for all of them. The issue of governance standards in the sector is again under scrutiny after cross-bench senators rejected the Australian Government’s proposal for one-third of all super funds’ directors be independent. Former Reserve Bank governor Bernie Fraser will review governance standards in the industry.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, RESERVE BANK OF AUSTRALIA, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN INSTITUTE OF SUPERANNUATION TRUSTEES, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, FINANCIAL SERVICES COUNCIL

Rinehart to Labor: follow Malcolm’s lead and ditch carbon tax

roymorgansocial Leave a comment

Original article by Perry Williams
The Age – Page: 25 : 4-Dec-15

The Australian Labor Party’s 2016 federal election platform will include an emissions trading scheme. However, mining magnate Gina Rinehart has urged the Opposition to commit to not introducing a carbon tax, arguing that governments should not be imposing any taxes on companies that reduce their ability to compete internationally. Rinehart has also noted the dearth of major greenfield mining projects in Australia following the start of production at her Roy Hill iron ore project.

CORPORATES
AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, POSCHELK DENTAL SURGERIES, MARUBENI CORPORATION, CHINA STEEL CORPORATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, LIBERAL PARTY OF AUSTRALIA

Nats seek more power over policy

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 4-Dec-15

Australia’s former industry minister Ian Macfarlane has resigned from the Liberal Party and joined its Coalition partner, the National Party. Scott Buchholz is also considering a switch to the National Party, which will now press the Liberal Party for an additional minister and an increased role in the federal government. Macfarlane says he is keen to take on a ministerial portfolio again but stresses that any appointments must be based on merit. He lost the industry portfolio in a ministerial reshuffle under new Prime Minister Malcolm Turnbull.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, QUEENSLAND GRAINGROWERS’ ASSOCIATION

Brookfield eyes Macquarie deal in Asciano fight

roymorgansocial Leave a comment

Original article by Anthony Macdonald, Sarah Thompson
The Australian Financial Review – Page: 13 & 18 : 4-Dec-15

Brookfield Infrastructure Partners is said to be considering several options to gain regulatory approval for its $A9bn bid for ports and rail group Asciano. Macquarie Group has declined to comment on speculation that it could invest in Asciano in partnership with Brookfield, which it has been advising on the takeover bid. Brookfield is also believed to be looking at a structural separation of Asciano, whereby it would control the ports business but hold a minority stake in the Pacific National rail division.

CORPORATES
ASCIANO LIMITED – ASX AIO, BROOKFIELD INFRASTRUCTURE PARTNERS LP, MACQUARIE GROUP LIMITED – ASX MQG, PACIFIC NATIONAL PTY LTD, PATRICK CORPORATION LIMITED, QUBE HOLDINGS LIMITED – ASX QUB, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CITIGROUP PTY LTD, GLOBAL INFRASTRUCTURE MANAGEMENT LLC, CANADA PENSION PLAN INVESTMENT BOARD, DEUTSCHE BANK AG, DALRYMPLE BAY COAL TERMINAL PTY LTD