Author: roymorgansocial

Business owners, Professionals and Managers swing decisively to new Turnbull Government; Business Confidence up under Malcolm Turnbull

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Original article by Michele Levine, Gary Morgan, Roy Morgan Research
Market Research Update – Page: Online : 11-Nov-15

Business owners, Professionals and Managers have swung decisively behind the Malcolm Turnbull Government, with the L-NP vote now 61.5% (up 12.5 per cent from pre-Turnbull), compared with 38.5 per cent for the ALP (down 12.5 per cent). Confidence for this group of Business owners, Professionals and Managers has increased to 118.6 (up 5.2pts from pre-Turnbull), according to a special analysis of business people using data from Roy Morgan Single Source. In addition, the Roy Morgan survey of businesses shows that real Business Confidence has increased from 102.6 in August 2015 to 119.3 in October – a strong increase following Turnbull’s ascension to the Prime Ministership. The website of "The Australian" has selectively reported the NAB Business Confidence poll, which claims that Business Confidence is down since Malcolm Turnbull took over leadership – this is far from the truth and only serves to destabilise the new Turnbull leadership or cast doubt on the Coalition tax reform discussions. For years the business community has been calling for tax reform and a complete review of the Australian taxation system. It is unbelievable and inconceivable to think business has now lost confidence because Turnbull and Treasurer Scott Morrison are reviewing tax and "everything including GST is on the table". The NAB Business Confidence survey (sample and methodology undisclosed) reporting a drop in Business Confidence is either a "rogue poll", based on wrong questions or perhaps represents a very unrepresentative sample of the business community.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Six signs show the Sydney residential market has cooled

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Original article by Matthew Cranston
The Australian Financial Review – Page: 40 : 11-Nov-15

A number of factors suggest that growth in Sydney’s residential property market has slowed in 2015. The auction clearance rate has fallen from 89.2 per cent in May to a three-year low of 59.2 per cent. Likewise, the number days a property is listed before selling has risen from 25 in July to 28 in November, while there is also evidence of a widening differential between the reserve price of residential properties and the eventual sale price at auction.

CORPORATES
DOMAIN.COM.AU, RICHARDSON AND WRENCH PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, AUSTRALIAN FINANCE GROUP LIMITED – ASX AFG, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Asciano weighs up ‘doability’ of Qube bid

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Original article by Jenny Wiggins, Sarah Thompson, Anthony Macdonald, Patrick Hatch
The Australian Financial Review – Page: 17 & 22 : 11-Nov-15

Shares in port and rail group Asciano closed $A0.26 higher at $A8.99 in response to a takeover approach from a consortium led by Qube Holdings. The indicative cash and scrip bid values Asciano at $A9.25 per share, while the bid from Brookfield Infrastructure Partners is currently valued at $A9.22 per share. The Qube consortium also includes Global Infrastructure Partners and the Canada Pension Plan Investment Board. The consortium is seeking due diligence, and could make a formal offer by mid-December 2015.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Atlassian IPO to recharge tech scene

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Original article by Paul Smith, John Kehoe
The Australian Financial Review – Page: 17 & 32 : 11-Nov-15

The prospectus for Atlassian Software’s IPO in the US shows that the group boasted net income of $US6.8m and revenue of $US319.5m in 2014-15. The Australian technology company has been profitable for the last 10 years, in contrast to many peers that are valued at more than $US1bn. The Industry, Innovation and Science Minister, Christopher Pyne, has welcomed confirmation of the IPO, and says the Federal Government’s innovation agenda statement could result in the creation of more companies like Atlassian.

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, XERO LIMITED – ASX XRO, UNLOCKD, CAMPAIGN MONITOR PTY LTD, BIGCOMMERCE PTY LTD

China mining boom last in history

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Original article by Peter Ker
The Australian Financial Review – Page: 10 : 11-Nov-15

Australian economist Saul Eslake has warned that the prices of many industrial commodities are likely to fall further in the next year or two. Eslake is particularly bearish about the outlook for the price of coal and iron ore. Eslake also told the International Mining and Resources Conference that there is unlikely to be another commodities boom on the scale of the one that was driven by China’s industrialisation. He argues that other developing countries have significantly smaller populations and are less dependent on commodity imports.

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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Gary Morgan – Tax reform and broadening the GST base will help tackle Australia’s "cash economy"

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 9-Nov-15

The solid increase in the ANZ-Roy Morgan Consumer Confidence rating (now 116.6, up from 105.3 pre-Turnbull) and Roy Morgan Business Confidence (119.3 in October 2015, up from 102.6 in August) since Malcolm Turnbull became Prime Minister in mid-September gives him the political capital to make the tough decisions now to ensure Australia’s future prosperity. The recent discussion about the taxation system – including increasing the GST from 10 per cent to 15 per cent, and possibly broadening the GST base, is needed because too many people and companies do not pay their fair share of tax. Broadening the GST base in combination with tax reform will help tackle Australia’s booming "cash economy" and allow the Federal Government to implement extensive industrial relations reform. Australians who want to prosper will not complain, as more jobs will be available for everyone.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

NRL looks to seal deal for two Friday games

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Original article by Jake Mitchell, Brent Read
The Australian – Page: 3 : 11-Nov-15

The National Rugby League may finalise a deal for pay-TV rights in the next several weeks. Negotiations with Fox Sports are believed to involve regaining the rights to a Saturday night match, which the Nine Network secured in its recent $A925m deal with the NRL. Fox Sports would also gain the rights to a Friday night match, while Nine would broadcast a second match on Friday. Any deal is said to be condition on Fox Sports regaining the popular Saturday night match.

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NATIONAL RUGBY LEAGUE, FOX SPORTS AUSTRALIA PTY LTD, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN FOOTBALL LEAGUE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Rich could pay 27pc super tax

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Original article by Phillip Coorey, Jennifer Hewett
The Australian Financial Review – Page: 1 & 2 : 11-Nov-15

Most Australians’ contributions to their superannuation funds are taxed at 15 per cent at present. The tax reform options being examined by the Federal Government include a proposal to tax super contributions at 20 percentage points below a taxpayer’s marginal income tax rate. Treasurer Scott Morrison has indicated that the Government’s focus is on taxing super at the accumulation phase. In contrast, the Opposition’s policy is centred on taxing super upon retirement.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, DELOITTE ACCESS ECONOMICS PTY LTD

Hartigan denies friction with Seven

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Original article by Max Mason
The Australian Financial Review – Page: 31 : 11-Nov-15

Prime Media Group’s 11.4 per cent stakeholder Seven Group Holdings voted against the regional broadcaster’s remuneration report at its 2015 AGM. The "two strikes" rule will apply at the 2016 AGM after more than 34 per cent of Prime’s shareholders rejected the report. Meanwhile, Prime CEO Ian Audsley said the group could be acquired or seek to buy assets itself if there are changes to cross-media ownership laws. He added that Prime may be interested in buying radio assets but is unlikely to expand into regional print newspapers.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN LABOR PARTY, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOX SPORTS AUSTRALIA PTY LTD, V8 SUPERCARS AUSTRALIA PTY LTD, AUSTRALIAN FOOTBALL LEAGUE

ANZ-Roy Morgan Australian Consumer Confidence Remains Elevated at 116.6 (up 1.4pts)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Nov-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia rose by 1.2 per cent to 116.6 in the week ended 8 November 2015, reaching its highest level since January 2014. Confidence has been on an upward trend over the past few weeks, mainly driven by an improvement in households’ outlook on the economy. This likely reflects the ongoing support for the Turnbull government in creating an improving narrative on the prospects for the Australian economy. The sub-index "economic outlook in the next year" rose by 2.8 per cent, and "economic outlook in the next five years" rose by 7.5 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET