Author: roymorgansocial

Leaders call for gender balance

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Original article by Fiona Smith
The Australian Financial Review – Page: 9 : 2-Sep-15

New South Wales Treasurer Gladys Berejiklian complains that there are too few women in business. She told a Women in Banking event in Sydney on 1 September 2015 that she insists on other women being present when she is invited to business events but this condition is not always observed by event organisers. Mirvac board director Sam Mostyn said diversity in business has a positive impact on the quality of decision-making.

CORPORATES
DEUTSCHE BANK AG, MIRVAC GROUP – ASX MGR, NEW SOUTH WALES TREASURY. OFFICE OF FINANCIAL MANAGEMENT, NEW SOUTH WALES TREASURY. OFFICE OF STATE REVENUE, WOOLWORTHS LIMITED – ASX WOW, ASX LIMITED – ASX ASX, QANTAS AIRWAYS LIMITED – ASX QAN, RIO TINTO LIMITED – ASX RIO, MALE CHAMPIONS OF CHANGE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, GOLDMAN SACHS AUSTRALIA PTY LTD, ENVATO PTY LTD, THE COCA-COLA COMPANY

Cyber risk described as growing threat to mergers, acquisitions

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Original article by Ruth Liew
The Australian Financial Review – Page: 24 : 1-Sep-15

Cyber security was a business risk that should be in the hands of senior executives, not relegated to the IT department, a conference has been told. Lawyers, investment banks and governments needed watertight cyber rules around their mergers and acquisitions deals. Toll Holdings and Macquarie Group executive director Nicola Wakefield-Evans told the King & Wood Mallesons event that cyber resilience was a key issue for board members as cyber crime grew.

CORPORATES
KING AND WOOD MALLESONS, TOLL HOLDINGS LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, TELSTRA CORPORATION LIMITED – ASX TLS, BHP BILLITON LIMITED – ASX BHP, POTASH CORPORATION OF SASKATCHEWAN INCORPORATED, JP MORGAN CHASE AND COMPANY, PRICEWATERHOUSECOOPERS, TARGET CORPORATION, SONY CORPORATION

Leightons fraud inspires whistleblowing app

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Original article by Paul Smith
The Australian Financial Review – Page: 24 : 1-Sep-15

Whistleblowing is as simple as filling in an online questionnaire with Fraudsec, the idea of a technology start-up founded by Sylvain Mansotte, the key whistleblower in a fraud case at Leighton Contractors in 2013. His system, which allows a whistleblower to anonymously create a report and attach files, is being trialled by several major organisations. The New South Wales Department of Education has also made inquiries about modifying it to combat bullying in schools.

CORPORATES
FRAUDSEC, LEIGHTON CONTRACTORS PTY LTD, NEW SOUTH WALES. DEPT OF EDUCATION AND COMMUNITIES, AMAZON WEB SERVICES LLC

Silver lining in mineral hunt cloud

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Original article by Tess Ingram
The Australian Financial Review – Page: 18 : 1-Sep-15

The national spend on exploration fell 33 per cent year on year to $A322 million in the June 2015 quarter, according to the Australian Bureau of Statistics. It fell to its lowest level in nine years as miners cut back on costs and expenditure in the face of declining commodities prices. But it was not all bad news. The number of metres drilled was down only nine per cent, suggesting the industry was getting more for its money as costs were slashed in the search for the next generation of mines.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, MINEX CONSULTING PTY LTD, ASSOCIATION OF MINING AND EXPLORATION COMPANIES

Palmer sues CITIC for $A10b over iron ore project

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 1-Sep-15

Resources owner and federal MP Clive Palmer has filed a $A10 billion law suit against CITIC over its iron ore project in Western Australia. He alleges a breach of a commercial arrangement involving iron ore royalties. Palmer also launched a separate $A170 million claim against two directors of CITIC subsidiaries based in Perth and a CITIC Capital director in Hong Kong.

CORPORATES
CITIC LIMITED, SINO IRON PTY LTD, CITIC CAPITAL PARTNERS LIMITED, SUPREME COURT OF WESTERN AUSTRALIA, MINERALOGY PTY LTD, CITIC PACIFIC MINING MANAGEMENT PTY LTD, PALMER UNITED PARTY

NBN cost rise no surprise to Thodey, further increase not expected

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Original article by David Ramli
The Australian Financial Review – Page: 23 : 1-Sep-15

Former Telstra CEO David Thodey expects the latest blowout in the cost of the national broadband network will be the last as NBN Co develops a firm understanding of its challenges. It was not unusual to confront large increases in technology projects, said Thodey, who negotiated the sale of Telstra assets to NBN Co. The latest figure of $A56 billion is up $A15 billion on earlier estimates.

CORPORATES
NBN CO LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, OVUM RESEARCH

Labor rallies as Heydon decides to stay

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Original article by Phillip Coorey, Ewin Hannan
The Australian Financial Review – Page: 4 : 1-Sep-15

Union leaders fighting the Royal Commission into Trade Union Governance & Corruption have been likened to corrupt police who tried to shut down the Fitzgerald Royal Commission in Queensland in the 1980s. Attorney-General George Brandis said the Australian Labor Party and the unions were throwing mud at the royal commission because they had much to fear. The head of the royal commission, Justice Dyson Heydon, has refused to recuse himself.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIA. OFFICE OF THE GOVERNOR-GENERAL, ACTU, LIBERAL PARTY OF AUSTRALIA

Ban Transfield from detention centres: Greens

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Original article by Jenny Wiggins, Primrose Riordan
The Australian Financial Review – Page: 6 : 1-Sep-15

Transfield Services and Wilson Security were not properly accountable to the Department of Immigration and Border Protection in the running of a detention centre on Nauru, a Senate inquiry has found. It said the centre was not run well, prompting the Australian Greens to call for Transfield and Wilson to be dumped as providers of government services there. However, Transfield’s shares rose nine per cent to $A1.17 after the company reported its contract for running the Nauru centre as well as one on Manus Island had been renewed for five years.

CORPORATES
AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, TRANSFIELD SERVICES LIMITED – ASX TSE, WILSON SECURITY SERVICES, AUSTRALIAN GREENS, SAVE THE CHILDREN, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN FEDERAL POLICE

Deutsche says ASX set for strong recovery – and here’s what to buy

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 29 : 1-Sep-15

Deutsche Bank writes in its latest report that a rally on the Australian stock exchange is quite possible if Australia manages to avoid a recession. The company advises investors to buy the big four banks, financial services companies, healthcare stocks, and shares in Harvey Norman, Echo Entertainment, Flight Centre, Boral, Fletcher Building, Stockland, REA Group, QBE and AMP.

CORPORATES
DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, BORAL LIMITED – ASX BLD, FLETCHER BUILDING LIMITED – ASX FBU, STOCKLAND – ASX SGP, REA GROUP LIMITED – ASX REA, QBE INSURANCE GROUP LIMITED – ASX QBE, AMP LIMITED – ASX AMP, STANDARD AND POOR’S ASX 200 INDEX

Shazam me some faith because I’m losing it with the Liberals

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Original article by Grace Collier
The Australian – Page: online : 29-Aug-15

It is frustrating to observe how the Coalition is wasting political credit given to it by voters. The federal Government has made many mistakes, including failing to appoint more women to influential positions and not doing enough for ordinary Australians. Big business has too much influence on politics. Under pressure from big companies, the Government made changes to the Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Bill 2015 which made the bill meaningless.

CORPORATES
SKY NEWS, LIBERAL PARTY OF AUSTRALIA