Author: roymorgansocial

Productivity Commission Workplace reform conclusions softened by reliance on inaccurate employment data

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: online : 17-Aug-15

The Productivity Commission Workplace Relations Framework draft report released on August 4, 2015 is an important milestone for Australia and has the right ideas – however, there are also several things missing from the report that must be exposed and discussed. The biggest problem with the report is its reliance on the ‘politically convenient’ ABS unemployment figures that consistently under-state the real level of unemployment and under-employment in the Australian workforce and the inadequate data on the cash economy. There are two issues in relation to unemployment: the actual numbers in % terms and ‘000s of people; and the trends.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN BUREAU OF STATISTICS

Abbott treads softly over media reform

roymorgansocial Leave a comment

Original article by Dominic White
The Australian Financial Review – Page: 8 : 14-Aug-15

Prime Minister Tony Abbott is seeking consensus in the industry before moving forward on media reform. Acknowledging technology is running ahead of regulation, he says it is too early to move on the audience reach rule as well as the two-out-of-three rule that restricts ownership of TV, radio and print. Without consensus, the government would simply be taking sides in a commercial dispute.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF COMMUNICATIONS, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

Optus mobile subscriber base hit by competition

roymorgansocial Leave a comment

Original article by David Ramli
The Australian Financial Review – Page: 18 : 14-Aug-15

Singtel-Optus has vowed to take the fight to Telstra in its bid to win an increased share of the mobile phone market. As it pursues the most lucrative sector of the market, Optus says it is already spending more per customer than its big rival. Optus net profit was $A196 million in the three months to 30 June 2015. Operating revenue rose 13 per cent to $A1.9 billion.

CORPORATES
SINGTEL OPTUS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, VODAFONE AUSTRALIA LIMITED

Israel-based Packer outgrows Australia

roymorgansocial Leave a comment

Original article by Perry Williams, Michael Smith
The Australian Financial Review – Page: 1 : 14-Aug-15

James Packer has handed over the chairmanship of Crown Resorts to friend and former investment banker Rob Rankin as the billionaire pursues global casino and technology opportunities. Packer will focus on the company’s Las Vegas property and expansion into online gambling under his new title of executive director. Having sold his Vaucluse mansion, Packer is expected to spend more time in the US and Israel.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, UBS HOLDINGS PTY LTD, ARNHEM INVESTMENT MANAGEMENT PTY LTD

Getting lost in another gay distraction

roymorgansocial Leave a comment

Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 14-Aug-15

Most of the Australian Government’s problems are of its own making, business leaders believe. Instead of concentrating on vital issues, such as trade agreements and infrastructure delivery, ministers are bogged down in debate over same-sex marriage. The row over Bronwyn Bishop’s expenses was yet another example of its capacity for self-harm.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, HIGH COURT OF AUSTRALIA

Foxtel boost subscribers to 2.8 million, but at a cost

roymorgansocial Leave a comment

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

Foxtel has increased its revenue by one per cent in 2014-15. Its profit declined eight per cent. The number of subscribers increased nine per cent to 2.8 million which was the result of the price reduction of Foxtel’s basic package, from $A49 to $A25 a month in November 2014. Foxtel is under competitive pressure from video-on-demand service Netflix whose service costs between $A9 and $A15 a month.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NETFLIX INCORPORATED, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORPORATION – ASX NWS, PRESTO ENTERTAINMENT PTY LTD, CITI AUSTRALIA PTY LTD

Myer still a fashionable number

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 3 : 14-Aug-15

Myer’s spring parade on 13 August 2015 featured 27 brands. The Australian-listed retailer is in the process of changing its business model. Myer CEO Richard Umbers and chief merchandise and marketing officer Daniel Bracken believe that sales could be revived by focusing on fewer but stronger brands. In July 2015, the company removed about 100 national and international brands from its offer while adding new labels such as Aje, Daniel Avakian, Jack & Jones, and Calvin Klein White Label.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CALVIN KLEIN INCORPORATED, SNAPCHAT INCORPORATED, INSTAGRAM LLC, TWITTER INCORPORATED, FACEBOOK INCORPORATED

Bank raisings satisfy capital requirements

roymorgansocial Leave a comment

Original article by Clancy Yeates
The Australian Financial Review – Page: 17 : 14-Aug-15

Australia’s big four banks have asked shareholders for a combined $A8 billion in new capital. The banks need extra funds to meet new regulatory requirements. Credit Suisse analyst Jarrod Martin estimates that the banks need $A28 billion in total. Analysts believe that any further increases in capital requirements will be met through retained earnings and dividend reinvestment plans.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BELL POTTER SECURITIES LIMITED, DEUTSCHE BANK AG

Pressure on Coles, Woolies at both ends

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 14-Aug-15

Aldi’s expansion will increase price competition and cut into the market share of supermarket giants Woolworths and Coles and Metcash’s IGA chain. The supermarkets are also likely to be squeezed at the top end of the market when David Jones revamps its food halls and opens stand-alone upmarket food stores. Moody’s says the twin-pronged attack by Aldi and David Jones will shake up the duopoly structure of Australia’s grocery market.

CORPORATES
ALDI STORES SUPERMARKETS PTY LTD, DAVID JONES LIMITED, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, METCASH LIMITED – ASX MTS, INDEPENDENT GROCERS OF AUSTRALIA, MOODY’S INVESTORS SERVICE INCORPORATED, WOOLWORTHS HOLDINGS LIMITED

Hockey says yuan falls good news

roymorgansocial Leave a comment

Original article by Lisa Murray, Jacob Greber, Tony Walker
The Australian Financial Review – Page: 1&8 : 14-Aug-15

Treasurer Joe Hockey is relaxed about the devaluation of the yuan, claiming it will assist China’s exporters, who are important buyers of Australian resources. Hockey has joined the International Monetary Fund and ratings agency Standard & Poor’s in supporting China’s more market-based foreign exchange policy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, PEOPLE’S BANK OF CHINA, INTERNATIONAL MONETARY FUND, STANDARD AND POOR’S CORPORATION, CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, CHINA. MINISTRY OF FINANCE, RESERVE BANK OF AUSTRALIA