Author: roymorgansocial

Domino’s still hungry after gobbling rival

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Original article by Sue Mitchell
The Australian Financial Review – Page: 29 : 15-Oct-15

Australian-listed Domino’s Pizza Enterprises will have 330 outlets in France following the Stg35m ($A55m) acquisition of Pizza Sprint. CEO Don Meij says the group is keen to pursue further international acquisitions, as part of an aggressive expansion strategy that aims to double its store numbers worldwide over the next decade. Shares in Domino’s closed 5.4 per cent higher at $A41.95 on 14 October 2015.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, PIZZA SPRINT, FOOD COURT FINANCE SRL, DOMINO’S PIZZA JAPAN INCORPORATED, PLATYPUS ASSET MANAGEMENT PTY LTD, BAILLIEU HOLST LIMITED, BAIN CAPITAL LLC

Foxtel holding in Ten expected to pass muster with regulator

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Original article by Dominic White
The Australian Financial Review – Page: 21 : 14-Oct-15

Former Australian Communications & Media Authority (ACMA) executive Michaela Watson says the regulator is likely to approve the proposed equity alliance between Ten Network and Foxtel. She does not expect ACMA to rule that the deal contravenes cross-media ownership laws or would give businessman Lachlan Murdoch control of Ten. He has an 8.52 per cent stake in Ten and fully owns radio group Nova Entertainment, while he is also the co-chairman of Foxtel’s joint owner News Corporation.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, NOVA ENTERTAINMENT PTY LTD, NEWS CORPORATION – ASX NWS, ILLYRIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM

Gender pay gap only 5pc for comparable work roles

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Original article by Misa Han
The Australian Financial Review – Page: 12 : 14-Oct-15

Hay Group’s analysis of salary data suggests that female workers are generally paid just paid five per cent less than male colleagues in similar roles. This compares with the Workplace Gender Equality Agency’s estimate that the gender pay gap is around 25 per cent on average, although its data is based on the salaries of people in executive roles rather than those in comparable roles. Trevor Warden of Hay Group says having more women in senior positions will help address the pay gap.

CORPORATES
HAY GROUP, AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY

Steinert makes contrarian call on prices

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 42 : 14-Oct-15

Macquarie Group recently forecast that Australian house prices will fall by 7.5 per in 2016, while AMP Capital expects further price growth in 2016 before a 5-10 downturn in 2017. Meanwhile, Stockland CEO Mark Steinert says a number of factors support the case for further growth in house prices, including the lower Australian dollar, a relatively strong domestic economy and continued population growth. He anticipates that house prices will rise by 3-5 per cent in 2016.

CORPORATES
STOCKLAND – ASX SGP, MACQUARIE GROUP LIMITED – ASX MQG, AMP CAPITAL INVESTORS LIMITED, PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIANSUPER PTY LTD

Resources companies welcome industrial relations law changes

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Original article by Joanna Mather
The Australian Financial Review – Page: 3 : 14-Oct-15

The Senate has passed amendments to the Fair Work Act which enable the Fair Work Commission to make a ruling when enterprise bargaining negotiations on new projects have been stalled for six months. The Australian Mines & Metals Association and the Australian Petroleum Production & Exploration Association say the reforms should boost investment.

CORPORATES
AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED

BHP may be tempted by ailing mining assets

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Original article by Peter Ker
The Australian Financial Review – Page: 24 : 14-Oct-15

Todd Warren of Colonial First State Global Asset Management says BHP Billiton seems to be becoming more keen to pursue mergers and acquisitions. A number of rival mining groups are believed to be considering asset sales, which could present buying opportunities for BHP. It already holds a 33.75 per cent stake in Glencore’s Antamina copper mine in Peru, which is one of the assets that Glencore may divest. BHP was among the bidders for Barrick Gold Corporation’s Zaldivar copper mine in Chile.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, GLENCORE PLC, BARRICK GOLD CORPORATION, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, ANTOFAGASTA PLC, ANGLO AMERICAN PLC, BP PLC, PEABODY ENERGY CORPORATION, TECK CORPORATION, MITSUBISHI CORPORATION, BLACKROCK INCORPORATED

Labor to pass China FTA despite unions

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 14-Oct-15

The Australian Government is expected to agree to some minor changes to the free trade agreement with China that have been endorsed by the Opposition’s caucus. The three amendments to the Migration Act relate to foreign workers who are hired on 457 visas. The trade deal is now expected to be passed by Parliament within weeks, allowing it to come into effect by the end of 2015. However, ACTU president Ged Kearney says the protection of Australian jobs is still a concern.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION

Murdoch to face shareholder revolt

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Original article by Max Mason
The Age – Page: 40 : 14-Oct-15

News Corporation’s share structure will again come under scrutiny at the media giant’s 2015 AGM in New York. However, any resolution to abolish the dual-class structure faces a significant hurdle, as the Murdoch Family Trust holds 38.4 per cent of Class B shares, which have voting rights. Some 47.4 per cent of votes cast at the 2014 AGM were in favour of scrapping the distinction between Class B and non-voting Class A shares.

CORPORATES
NEWS CORPORATION – ASX NWS, MURDOCH FAMILY TRUST, SOUTHEASTERN ASSET MANAGEMENT INCORPORATED, NATHAN CUMMINGS FOUNDATION, LEGAL AND GENERAL ASSURANCE SOCIETY LIMITED, HERMES EQUITY OWNERSHIP SERVICES LIMITED, FOXTEL MANAGEMENT PTY LTD, AMPLIFY PTY LTD, CITIGROUP PTY LTD, DEUTSCHE BANK AG

New Telstra CEO’s threat over prices

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Original article by David Ramli
The Australian Financial Review – Page: 1 & 15 : 14-Oct-15

Telstra CEO Andy Penn says earnings could be reduced by up to $A80m in fiscal 2016 due to an Australian Competition & Consumer Commission ruling that its wholesale prices should be cut by 9.4 per cent. Penn has also warned that the telco may be forced to reduce its investment in telecommunications infrastructure as a result of the decision. Meanwhile, more than 11 per cent of votes cast at Telstra’s AGM rejected the remuneration report, compared with less than two per cent in 2014.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN COMPANIES AND SECURITIES COMMISSION, SINGTEL OPTUS PTY LTD, VODAFONE HUTCHISON AUSTRALIA PTY LTD, TPG TELECOM LIMITED – ASX TPM, OVUM RESEARCH, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE

Denials wear thin as evidence mounts

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Original article by Ben Schneiders
The Age – Page: 5 : 14-Oct-15

Melbourne’s EastLink tollroad project was finished well ahead of schedule, but evidence presented to the trade union royal commission demonstrates that industrial peace came at a cost. Julian Rzesniowiecki was a senior executive at Thiess John Holland, who kept records showing that the Australian Workers’ Union had proposed that Thiess pay $A300,000 for one union organiser to be on site. The proposal was put forward by current Opposition Leader Bill Shorten in his capacity as head of the AWU. He had initially proposed that Thiess pay for four AWU members to be on site for the life of the project.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, THIESS JOHN HOLLAND, AUSTRALIAN LABOR PARTY