Author: roymorgansocial

Surprise wins in TPP deal: Robb

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Original article by John Garnaut
The Australian Financial Review – Page: 1 & 4 : 27-Jul-15

Australia’s Trade Minister Andrew Robb is confident that a deal on the proposed Trans Pacific Partnership (TPP) will be finalised in the last week of July 2015, after five years of negotiations. Robb says the nation’s agricultural sector is set to benefit from the TPP, but he adds that the biggest beneficiaries could include service industries such as the legal and education sectors. Robb also expects the mining equipment and services sector to benefit from the deal.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, WORLD TRADE ORGANIZATION, GENERAL AGREEMENT ON TARIFFS AND TRADE, NORTH AMERICAN FREE TRADE AGREEMENT, AUSTMINE LIMITED, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, GEKKO SYSTEMS PTY LTD, ORICA LIMITED – ASX ORI, MONADELPHOUS GROUP LIMITED – ASX MND, AUSDRILL LIMITED – ASX ASL, AUSENCO LIMITED – ASX AAX, WORLEYPARSONS LIMITED – ASX WOR, SINCLAIR KNIGHT MERZ PTY LTD

Goods prices tipped to bottom out

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 23 : 24-Jul-15

The iron ore price is currently trading at around $US51.76 per tonne, while thermal coal is fetching $US60.45 a tonne and crude oil is trading at $US56.11 per barrel. A report from the World Bank forecasts that the prices of all three commodities will remain subdued for the remainder of 2015, although an upturn is expected in 2016. Iron ore is forecast to average $US55 per tonne in 2015, before rising to $US56.70 in 2016.

CORPORATES
WORLD BANK, THE GOLDMAN SACHS GROUP INCORPORATED, MORGAN STANLEY AND COMPANY INCORPORATED, UBS HOLDINGS PTY LTD, BLOOMBERG LP, CITIGROUP PTY LTD, RBC CAPITAL MARKETS

Defamation laws need overhaul: judge

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Original article by Marianna Papadakis
The Australian Financial Review – Page: 32 : 24-Jul-15

New South Wales District Court judge Judith Gibson notes that social media has contributed to a rise in defamation lawsuits in Australia. Justice Gibson says federal Treasurer Joe Hockey’s case against Fairfax Media demonstrates the need for reforms to defamation laws. She argues that the definition of what constitutes a publication needs to be reconsidered in the digital age, while rules governing the awarding of damages need to be revised in order to discourage minor claims.

CORPORATES
DISTRICT COURT OF NEW SOUTH WALES, AUSTRALIA. DEPT OF THE TREASURY, FAIRFAX MEDIA LIMITED – ASX FXJ, MINTER ELLISON, FEDERAL COURT OF AUSTRALIA, TWITTER INCORPORATED, FACEBOOK INCORPORATED

Australia may miss out on global M&A frenzy

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 16 : 24-Jul-15

Some $US2.28trn ($A3.09trn) worth of global mergers and acquisitions were announced during the first half of 2015, according to data from Dealogic. This includes 31 deals worth at least $US10bn. However, M&A activity in Australia has totalled just $US56.9bn so far in 2015, and David Friedlander of law firm King & Wood Mallesons describes the level of local activity as "disappointing". Grant Chamberlain of Bank of America Merrill Lynch says five local deals worth at least $A5bn were announced during the first half.

CORPORATES
KING AND WOOD MALLESONS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED, ASCIANO LIMITED – ASX AIO, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP, BROOKFIELD ASSET MANAGEMENT INCORPORATED, GREENHILL AND COMPANY, GRESHAM PARTNERS LIMITED

Large caps shine in under-loved index

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 23 : 24-Jul-15

Analysis by Morningstar shows that the Australian sharemarket is currently trading at a price/earnings ratio of 15.5. The market’s earnings yield is 6.5 per cent, while the yield on 10-year bonds is around three per cent. Morningstar believes that the local sharemarket still offers value, and it favours large-capitalisation stocks such as National Australia Bank, BHP Billiton, Veda Group, Santos and Goodman Group.

CORPORATES
MORNINGSTAR PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BHP BILLITON LIMITED – ASX BHP, VEDA GROUP LIMITED – ASX VED, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, GOODMAN GROUP – ASX GMG, SANTOS LIMITED – ASX STO, AWE LIMITED – ASX AWE, ALUMINA LIMITED – ASX AWC, ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG, ARRIUM LIMITED – ASX ARI, STANDARD AND POOR’S ASX 200 INDEX, AMP CAPITAL INVESTORS LIMITED, UNITED STATES. FEDERAL RESERVE BOARD

Number might be up for low-cost online imports

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Original article by Fleur Anderson
The Australian Financial Review – Page: 5 : 24-Jul-15

GST revenue could rise by about $A1.7bn annually within five years after the Council of Australian Governments agreed to reduce the tax-exempt threshold for goods purchased from offshore websites from $A1,000 to just $A20. Australian Chamber of Commerce & Industry CEO Kate Carnell says the move will reduce the unfair advantage that online retailers based overseas enjoy at the expense of local retailers.

CORPORATES
COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, RETAIL COUNCIL LIMITED, AUSTRALIA. PRODUCTIVITY COMMISSION

Australians are evenly divided over Tony Abbott or Bill Shorten as PM – both leaders unpopular

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 23-Jul-15

A special telephone Morgan Poll has found that Prime Minister Tony Abbott’s rating as the "Better PM" has fallen by two per cent to 42 per cent since April 2015. The poll, which was carried out from 20-22 July, also shows that Opposition Leader Bill Shorten’s rating as the "Better PM" has risen by two per cent to 41 per cent. The proportion of electors who disapprove of Abbott’s handling of his job as Prime Minister has risen by six per cent to 59 per cent. Roy Morgan Research executive chairman Gary Morgan notes that 60 per cent of electors now disapprove of Shorten’s handling of his job as Opposition Leader, while the number of electors who approve of his handling of the job has fallen to a record low of 24 per cent.

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MORGAN POLL, ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

ASIC set for full-scale review

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Original article by Sarah Thompson, Jonathan Shapiro, James Eyers
The Australian Financial Review – Page: 1 & 6 : 24-Jul-15

The Federal Government will complete a "capability review" of the Australian Securities & Investments Commission (ASIC) by the end of 2015. The review will be carried out by an expert panel comprising Karen Chester, Mark Gray and lawyer David Galbally. The financial system inquiry’s recommendations included carrying out regular capability reviews of the nation’s key regulatory agencies. The Government provides ASIC with about $A300m in funding each year.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION, QUEENSLAND. TREASURY

Turnbull calls for TV licence trade-offs

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Original article by Dominic White
The Australian Financial Review – Page: 8 : 24-Jul-15

The CEOs of Australia’s commercial TV networks pressed their case for a reduction in broadcast licence fees when they met with Communications Minister Malcolm Turnbull on 23 July 2015. Turnbull has acknowledged that the networks are facing growing competition from companies such as streaming video providers, but he told the networks that they will need to suggest ways to offset the fall in government revenue if licence fees are reduced.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FREE TV AUSTRALIA LIMITED, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Abbott supported as Liberal Leader by only 13% and Shorten as ALP Leader by only 12%

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 23-Jul-15

A telephone Morgan Poll has found that 13 per cent of Australian electors prefer Prime Minister Tony Abbott as Liberal Leader, an increase of one per cent. However, Malcolm Turnbull is preferred by 44 per cent of electors (an increase of six per cent). The poll, which was carried out from 20-22 July 2015, also shows that the number of electors who prefer Opposition Leader Bill Shorten as Australian Labor Party Leader has fallen by nine per cent to 12 per cent. In contrast, 26 per cent of electors prefer Deputy Labor Leader Tanya Plibersek (up three per cent).

CORPORATES
ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET