Author: roymorgansocial

Australian Roy Morgan Business Confidence strengthens further in October to highest level for 2015

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

A Roy Morgan Business Single Source survey has found that Australian business confidence rose by 5.8 per cent to 119.3 in October 2015, to the highest level since November 2014. This improvement in confidence was generally expected initially as a result of Malcolm Turnbull becoming Prime Minister, but it has strengthened further in October to be 16.3 per cent higher than prior to the leadership change in August. Roy Morgan Business Confidence is now above the five-year average of 116.9 and higher than 12 months ago (114.9). The increase in business confidence in October was a result of improvements across all components of the index. The strongest gains were in how businesses feel about the economy over the next 12 months and five years, and the encouragement this would give them to invest in their business, which is now at the highest level for the year.

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

Armour Energy to target LNG markets with AEP

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 18 : 9-Nov-15

Australian-listed Armour Energy will undertake a shale exploration program in the Northern Territory’s McArthur Basin in partnership with American Energy Partners (AEP). Armour shareholders approved the farm-in agreement in late October 2015, while AEP plans to acquire a 13.62 per cent stake in Armour at $A0.25 per share. Armour recently spurned a $A61m takeover offer from WestSide, a subsidiary of China-based Landbridge.

CORPORATES
ARMOUR ENERGY LIMITED – ASX AJQ, AMERICAN ENERGY PARTNERS, WESTSIDE CORPORATION LIMITED, LANDBRIDGE GROUP COMPANY LIMITED, DGR GLOBAL LIMITED – ASX DGR

Employers face criminal action over AWU

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Original article by Ewin Hannan
The Australian Financial Review – Page: 5 : 9-Nov-15

Jeremy Stoljar has concluded that federal Opposition Leader Bill Shorten was not involved in criminal or unlawful conduct when he was head of the Australian Workers’ Union (AWU). However, the counsel assisting the Royal Commission into Trade Union Governance & Corruption has recommended that commissioner Dyson Heydon should conclude in his findings that former AWU boss Cesar Melhem and several companies may have contravened the Crimes Act regarding payments to the union.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN WORKERS’ UNION – WORKPLACE REFORM ASSOCIATION INCORPORATED, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, THIESS JOHN HOLLAND, WINSLOW CONSTRUCTORS PTY LTD, ACI PACKAGING SERVICES PTY LTD, CHIQUITA MUSHROOMS PTY LTD

Turnbull moves to dump reach rule

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Original article by Darren Davidson, Michael Bodey
The Australian – Page: 23 : 9-Nov-15

The issue of changes to cross-media ownership laws is expected to be the agenda for federal cabinet ministers in coming weeks, with the "reach rule" likely to be scrapped. Communications Minister Mitch Fifield also favours abolishing the "two-out-of-three" rule, although this may be opposed by the Australian Labor Party. The government is also believed to have agreed to abolish TV broadcasters’ licence fees, as the emergence of subscription video-on-demand services has reduced the value of these licences.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, FOXTEL MANAGEMENT PTY LTD, GOOGLE INCORPORATED, YOUTUBE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN LABOR PARTY, FACEBOOK INCORPORATED

Seven, Nine win free TV numbers game

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 9-Nov-15

The Seven Network is poised to claim the title of top-rating free-to-air broadcaster again in 2015, although its prime-time audience share has fallen by 1.2 per cent to 29.3 per cent. The Nine Network’s share of prime-time audiences is 1.3 per cent lower at 27.9 per cent, while the Ten Network’s share is up 1.1 per cent at 18.9 per cent. However, Nine has emerged as the market leader in the 25-54, 18-49 and 16-39 age groups, which are favoured by advertisers.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, OZTAM PTY LTD, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

$A tipped below US70c by year end

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 20 : 9-Nov-15

The Australian dollar was buying $US0.7032 on the weekend of 7-8 November 2015, after dipping to $US0.7023. The currency was sold down in response to stronger-than-forecast growth in US jobs during October, which has heightened expectations that the Federal Reserve will increase the cash rate in December. Joseph Capurso of the Commonwealth Bank believes that the Australian dollar could be trading within the range of $US0.68 to $US0.69 by the end of 2015.

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC

Auctions in Sydney fall to below 60pc

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Original article by Mercedes Ruehl
The Australian Financial Review – Page: 3 : 9-Nov-15

Preliminary data from Domain Group shows that Sydney’s residential property market boasted an auction clearance rate of 59.2 per cent on the weekend of 7-8 December 2015. This is its lowest level in around three years, and Domain’s Andrew Wilson says it could fall further before the end of the year. The clearance rate in Melbourne rose from 66 per cent to 70 per cent.

CORPORATES
DOMAIN.COM.AU, RAY WHITE REAL ESTATE, LAING AND SIMMONS HOLDINGS PTY LTD, AUSIN GROUP

Westpac to ramp up home loans, transaction accounts

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Original article by Clancy Yeates
The Australian Financial Review – Page: 13 & 16 : 9-Nov-15

The head of Westpac’s consumer banking arm, George Frazis, says his division aims to increase its customer base by 850,000 in coming years. The ambitious target is part of plans by CEO Brian Hartzer to gain an additional one million customers across Westpac’s operations by 2017. Frazis has signalled a push to increase home loan and transaction account customers. Westpac also aims to reduce its cost-to-income ratio from 43.8 per cent in 2014 to less than 40 per cent within three years.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, BANK OF MELBOURNE LIMITED, ST GEORGE BANK LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, RAMS HOME LOANS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BELL POTTER SECURITIES LIMITED

Australian M&A fires up as global uncertainty weighs on executives

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 16 : 9-Nov-15

A global survey of senior executives by EY Oceania shows that more than 50 per cent of Australian companies intend to pursue acquisitions in the next 12 months, compared with 44 per cent in the previous six-monthly survey. Mergers and acquisitions activity in Australia is particularly strong in sectors such as food services, consumer retailing and life sciences. Meanwhile, 64 per cent of respondents in Australia and New Zealand, plus 74 per cent globally, expect equity valuations to remain stable.

CORPORATES
ERNST AND YOUNG, WOODSIDE PARK STUD PTY LTD, OIL SEARCH LIMITED – ASX OSH, ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, CREDIT SUISSE (AUSTRALIA) LIMITED

Bank GST for company tax cut plan

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 9-Nov-15

The Parliamentary Budget Office estimates that the goods and services tax will generate revenue of $A18bn over the next four years. However, increasing the tax to 15 per cent and broadening its scope to include financial services could potentially lift revenue to around $A27bn over four years. This is one of the options that will be considered by the Federal Government, and has been advocated by South Australian Premier Jay Weatherill.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, INTERNATIONAL MONETARY FUND