Author: roymorgansocial

Falling profits hit economy

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Original article by Jacob Greber, Vesna Poljak
The Australian Financial Review – Page: 1 : 1-Sep-15

Company profits fell 1.9 per cent in the three months to June 2015, the fifth straight quarter of profit declines, prompting analysts to conclude the Australian economy is shrinking for the first time since the election of the Abbott Government. Despite fears new concerns about the economy could weigh heavily on investor sentiment, Treasurer Joe Hockey insisted there were positive signs and that the prospect of tax reform and the China free-trade agreement would lift spirits.

CORPORATES
DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, BLOOMBERG FINANCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CITIGROUP PTY LTD, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX

New TV rights put to ACCC

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 31-Aug-15

The Australian Competition & Consumer Commission (ACCC) is scrutinising Foxtel’s proposed acquisition of 15 per cent of Ten Network. Fairfax Media raised concerns that the acquisition would reduce competition in the sports rights market. Nine Entertainment raised similar objections. The ACCC is due to make a decision on the deal by 10 September 2015.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FOXTEL MANAGEMENT PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, MULTI CHANNEL NETWORK PTY LTD, KFC

Reform campaign building, says Prime Media chairman

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 31-Aug-15

Prime Media Group chairman John Hartigan is an advocate of media reform which Seven Group opposes. Hartigan suggests that Seven Group CEO Ryan Stokes’ criticism of Prime Media’s strategy is an attempt to persuade Prime’s shareholders that Seven should have a seat on the board of the regional broadcaster. Seven has an 11 per cent stake in Prime.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, WIN TELEVISION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, IMPARJA TELEVISION PTY LTD

Foxtel has to score NRL deal

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 31-Aug-15

Foxtel is under commercial pressure to acquire the future pay television rights to show National Rugby League (NRL) games. OzTAM’s recent ratings figures suggest that NRL games are important for Foxtel’s ratings. If Foxtel fails to secure more games, more than $A350 million of its $A3.1 billion annual revenue could be at risk.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, OZTAM PTY LTD, NATIONAL RUGBY LEAGUE, FOX SPORTS, NEWS CORP AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, SEVEN WEST MEDIA LIMITED – ASX SWM

Pressure builds on Labor over ‘dud’ China trade deal

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Original article by Primrose Riordan
The Australian Financial Review – Page: 4 : 31-Aug-15

Senator Jacqui Lambie has raised concerns about the China-Australia Free Trade Agreement. The fate of the deal is now uncertain. Growing opposition to the agreement has prompted the National Farmers’ Federation, the Minerals Council of Australia and the Australian Chamber of Commerce & Industry to launch a TV advertising campaign which stresses the benefits of the deal.

CORPORATES
NATIONAL FARMERS’ FEDERATION LIMITED, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE

Ad prices to soar for TV football

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Original article by Darren Davidson
The Australian – Page: 17 : 31-Aug-15

The Seven and Nine TV networks intend to increase advertisement prices, with price rises of about 30 per cent. The average cost of a 30-second TV spot for a prime-time Australian Football League or National Rugby League match would rise to $A39,000, from $A30,000. The rises are necessary to recover the costs associated with new sports broadcast rights deals.

CORPORATES
SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, SILVER POINT CAPITAL LP, OAKTREE CAPITAL MANAGEMENT LLC, APOLLO GROUP INCORPORATED

Roadshow zooms in on ‘Australiana’ films

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Original article by Michael Bodey
The Australian – Page: 25 : 31-Aug-15

Roadshow Films will focus on the local market. Seph McKenna, head of production at the Australian film production company, says the company was too small to compete with US studios. He believes Australian films could be successfully promoted in the mid-budget market segment.

CORPORATES
ROADSHOW FILMS, UNIVERSAL PICTURES

WA chilling as big miners cut $20b spending

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 4 : 31-Aug-15

In the past three years, BHP Billiton, Rio Tinto and Fortescue Metals have reduced operational spending by $US14.3 billion ($A19.9 billion). Most cuts were made in their iron ore operations in Western Australia. The mining giants intend to continue their cost-cutting initiatives. They are even raising their cost-cutting targets, with Rio Tinto’s lifting its target for 2015-16 from $US750 million to $US1 billion.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESFARMERS LIMITED – ASX WES, CBRE PTY LTD, JONES LANG LASALLE AUSTRALIA PTY LTD

McKibbin says climate target at ‘high end’

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Original article by Ben Potter
The Australian Financial Review – Page: 1 : 31-Aug-15

Warwick McKibbin has defended the Australian Government’s climate change policy. McKibbin, the head of the Centre for Applied Macroeconomic Analysis at Australian National University’s Crawford School of Public Policy, said on 30 August 2015 that the Government’s emissions reduction target of at least 26 per cent from 2005 levels by 2030 would result in gross domestic product being 0.6 per cent smaller than if there were no target.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF ECONOMICS AND GOVERNMENT, AUSTRALIAN LABOR PARTY, AUSTRALIA. CLIMATE CHANGE AUTHORITY, MINERALS COUNCIL OF AUSTRALIA

7-Eleven head office involved in wage fraud cover-up

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Original article by
The Australian Financial Review – Page: 40 : 31-Aug-15

Fair Work Commission is investigating allegations of wage fraud at franchise chain 7-Eleven. Most of the chain’s employees are students on visas. The underpayment of wages is not limited to 7-Eleven. There are 1.3 million workers in Australia on visas and they are vulnerable to wage abuses.

CORPORATES
7-ELEVEN INCORPORATED, AUSTRALIA. FAIR WORK COMMISSION