Author: roymorgansocial

Hockey bid for election tax cuts

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 20-Jul-15

Treasurer Joe Hockey has signalled that tax reform will be on the agenda for the federal election in 2016. He says the current income tax regime discourages people from earning additional money, with so-called bracket creep likely to push people on the average income onto the second-highest tax rate. Hockey has also urged state governments to support GST reform, although former treasurer Peter Costello says the government is unlikely to gain the support of all states.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY

ANZ-Roy Morgan New Zealand Consumer Confidence – Cold Snap

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 16-Jul-15

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has fallen from 119.9 in June 2015 to 113.9 in July, which is its lowest level in almost three years. Sentiment has fallen by 15 points so far in 2015 and is now below its historical average of 119.1. The Current Conditions Index has fallen from 122.6 to 119.0, while the Future Conditions Index has eased from 118.1 to 110.4. Meanwhile, a net four per cent of New Zealanders believe that they are financially better off compared with last year.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Medibank accused of bullying in contract talks

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 17-Jul-15

The Australian Private Hospitals Association (APHA) has criticised Medibank Private over its dealings with private hospital operator Calvary Health Care. Medibank abandoned negotiations over a new contract with Calvary in early July 2015, and the APHA has claimed that the private health insurer used bullying tactics. Medibank has rejected the accusations and says it acted appropriately in its negotiations with Calvary.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, CALVARY HEALTH CARE LIMITED, AUSTRALIAN PRIVATE HOSPITALS ASSOCIATION LIMITED, RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO

Seven storeys of shells start $40m art project

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 17-Jul-15

The Barangaroo precinct in Sydney will feature some $A40m worth of public art, which will be funded by the private sector. The New South Wales Government officially launched the Barangaroo Arts and Cultural Plan on 16 July 2015. Property developer Lend Lease will fund seven of the nine art and culture projects that will be completed by 2020.

CORPORATES
LEND LEASE CORPORATE FINANCIAL SERVICES LIMITED, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. DEPT OF INDUSTRY, NEW SOUTH WALES. BARANGAROO DELIVERY AUTHORITY, MUSEUM OF CONTEMPORARY ART (NEW SOUTH WALES), ART GALLERY OF NEW SOUTH WALES

Sydney, Melbourne fast sellers

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 17-Jul-15

CoreLogic’s data for private treaty sales in April 2015 shows that houses in Sydney were sold an average of 26 days after being put on the market, compared with an average of 31 days in May 2014. Likewise, the average number of days required to sell a home via private treaty sale in Melbourne fell from 43 to just 32. CoreLogic also reports that some 17,282 residential properties are currently for sale in Sydney, while 26,987 are on the market in Melbourne.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ

Wine buyers splash out

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Original article by Simon Evans
The Australian Financial Review – Page: 15 : 17-Jul-15

Liquor retailers have reported a strong rise in sales of Treasury Wine Estates’ more upmarket wine brands in response to a limited offer in which they can buy a $A3,000 wine cabinet for just $A1,199. Consumers who spend at least $A500 on wine brands such as Penfolds, Wolf Blass and Wynns Coonawarra can buy the wine cabinet at the heavily discounted price in July and August 2015. A smaller wine cabinet is also available at a deep discount to people who spend at least $A180 on wine.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, PENFOLDS WINES PTY LTD, WOLF BLASS WINES PTY LTD, WYNNS COONAWARRA ESTATE PTY LTD, DAN MURPHY’S, WOOLWORTHS LIMITED – ASX WOW, BOCCACCIO CELLARS PTY LTD, WINE AUSTRALIA PTY LTD

Aussie banks ready for Apple Pay

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Original article by Shaun Drummond
The Australian Financial Review – Page: 17 : 17-Jul-15

Apple is believed to be seeking a 0.15 per cent share of banks’ credit card interchange fees when it launches the Apple Pay service in Australia. The mobile payments service was officially launched in the UK on 14 July 2015, and is being supported by most of that nation’s lenders. David Gunn of Bain & Company notes that Australian banks have considerable bargaining power as they have already made a major investment in contactless payment technology.

CORPORATES
APPLE INCORPORATED, BAIN AND COMPANY, RESERVE BANK OF AUSTRALIA, VISA INTERNATIONAL, MASTERCARD AUSTRALIA LIMITED, PAYPAL INCORPORATED, WAL-MART STORES INCORPORATED, SAMSUNG CORNING COMPANY LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Rio sticks to strategy amid weather woes

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 17-Jul-15

Rio Tinto expects to export 340 million tonnes of iron ore in 2015, compared with previous expectations of 350 million tonnes. Rio has attributed the downgrade to the impact of adverse weather events during the first half of the calendar year, which disrupted production and reduced port capacity. Citigroup estimates that Rio will have to increase its iron ore shipments and fall back on stockpiles to achieve its revised full-year export target. The group’s shares closed 0.3 per cent higher at $A53.31 on 16 July.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP

Primary Health scare on profit slump

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 17-Jul-15

Shares in Primary Health Care fell by $A0.42 to $A4.77 on 16 July 2015, after the group advised that its 2014-15 EBITDA will around $A400m, which is similar to the previous year. Primary had previously forecast that its EBITDA would be within the range of $A410m to $A425m. Primary has also indicated that it now expects a tax refund of about $A50m, compared with earlier expectations of $A130m.

CORPORATES
PRIMARY HEALTH CARE LIMITED – ASX PRY, AUSTRALIAN TAXATION OFFICE, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX

Canada, NZ moves point to more RBA rate cuts

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Original article by Jacob Greber, Vesna Poljak
The Australian Financial Review – Page: 1 & 8 : 17-Jul-15

The Australian dollar reached a low of $US0.7354 on 16 July 2015, after the Bank of Canada reduced its cash rate to 0.5 per cent. The Reserve Bank of New Zealand is widely tipped to ease monetary policy in July, and economists suggest that this may prompt further rate cuts in Australia before the end of the year. Citigroup anticipates a rate cut of 25 basis points in November, while Deutsche Bank forecasts that the Australian dollar will test the $US0.65 level by the end of 2016.

CORPORATES
RESERVE BANK OF AUSTRALIA, BANK OF CANADA, RESERVE BANK OF NEW ZEALAND, CITIGROUP PTY LTD, DEUTSCHE BANK AG, ROYAL BANK OF CANADA, UNITED STATES. FEDERAL RESERVE BOARD, UBS HOLDINGS PTY LTD