Author: roymorgansocial

Abbott lines up double-D unions poll

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Original article by Phillip Coorey, Patrick Durkin
The Australian Financial Review – Page: 1& 6 : 13-Jul-15

The Australian Government plans to use the Registered Organisations Commission Bill as one of two potential triggers for a double-dissolution election. Officials of unions and employers’ groups who are found to be corrupt will be subject to the penalties that currently apply to corporate executives. The Government will also reintroduce its bill on the Australian Building & Construction Commission to the Senate when parliament resumes in August 2015.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN ELECTORAL COMMISSION

Telstra’s Penn lays out vision

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Original article by Tony Boyd
The Australian Financial Review – Page: 40 : 10-Jul-15

Telstra has indicated that it is willing to host streaming video on demand providers’ content on its servers, as part of its push to become Australia’s market leader among aggregators. The SVOD sector is a growth industry in Australia, with Telsyte reporting that the nation boasted two million active subscriptions to such services at the end of June 2015. A recent Roy Morgan Research survey also showed that Netflix boasts about one million subscribers, just months after officially launching in Australia.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, TELSYTE PTY LTD, ROY MORGAN RESEARCH LIMITED, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, PRESTO ENTERTAINMENT PTY LTD, FOXTEL MANAGEMENT PTY LTD, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, SINGTEL OPTUS PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, QUICKFLIX LIMITED – ASX QFX, TESLA MOTORS INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, NATIONAL BASKETBALL LEAGUE, ULTIMATE FIGHTING CHAMPIONSHIP, NOMURA AUSTRALIA LIMITED, NBN CO LIMITED

Sydney Airport passenger growth predicted to lag

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Original article by Jamie Freed
The Australian Financial Review – Page: 19 : 10-Jul-15

Moody’s says Brisbane and Melbourne airports are best placed to benefit from stronger international growth, while the international passenger growth rate at Sydney has fallen behind forecasts. It remains Australia’s main international gateway, but Melbourne and Brisbane are experiencing better growth rates because of new services to those airports. Moody’s says airports with a greater reliance on domestic travellers, such as Perth and Adelaide, face a more challenging outlook in passenger volume trends.

CORPORATES
MOODY’S INVESTORS SERVICE INCORPORATED, SYDNEY AIRPORT – ASX SYD, BRISBANE AIRPORT CORPORATION LIMITED, AUSTRALIA PACIFIC AIRPORTS (MELBOURNE) PTY LTD, ADELAIDE AIRPORT LIMITED, WESTRALIA AIRPORTS CORPORATION PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, JP MORGAN AUSTRALIA LIMITED, AIR CANADA

BHP and Rio braced and ready for iron ore’s ‘new normal’

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Original article by Amanda Saunders, Tess Ingram
The Australian Financial Review – Page: 13 & 18 : 10-Jul-15

Some analysts believe that the iron ore price could fall below $US40 per tonne as production ramps up in Australia and abroad. The price of the steel input fell below $US45/tonne on 8 July 2015, prompting speculation about the viability of some high-cost smaller iron ore miners. Andrew Harding, the head of Rio Tinto’s iron ore division, remains upbeat about the long-term outlook for the commodity. He says iron ore is now trading at around its long-term average, and argues that record high prices were not sustainable.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BC IRON LIMITED – ASX BCI, MOUNT GIBSON IRON LIMITED – ASX MGX, RBC CAPITAL MARKETS, ARRIUM LIMITED – ASX ARI, CLIFFS NATURAL RESOURCES INCORPORATED, MORNINGSTAR PTY LTD, VALE SA, ANGLO AMERICAN PLC, HANCOCK PROSPECTING PTY LTD, ROY HILL IRON ORE PTY LTD, ARGONAUT SECURITIES PTY LTD

Bell Financial Group rings in strong first half

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 16 : 10-Jul-15

Australian-listed Bell Financial Group has posted an $A8m consolidated unaudited profit for the first six months of 2015. This was 300 per cent higher than its result for the same period in 2014. Group revenue was 18 per cent higher, with equity capital markets and equities execution revenue up 37 per cent and 16 per cent respectively. The group’s shares closed 11.6 per cent higher at $A0.48 on 9 July.

CORPORATES
BELL FINANCIAL GROUP LIMITED – ASX BFG, ASX LIMITED – ASX ASX, CHI-X AUSTRALIA PTY LTD, BELL DIRECT

Most seek advice when switching superannuation provider but gaps remain

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Jul-15

A new Roy Morgan Research report, "Superannuation and Wealth Management in Australia", examines all aspects of consumer financial behaviour, including extensive coverage of super. It shows that 72 per cent of Australians aged 14+ who switched super provider in the year to December 2014 sought some sort of advice when doing so, compared with 68.8 per cent in 2010. The number of people who received such advice from financial planners/advisers has risen from 20.5 per cent to 29.9 per cent during the period. Likewise, the number of people who went directly to a financial institution for advice has risen from six per cent to 9.3 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Shorten warned to stop dodging questions

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Original article by Ewin Hannan
The Australian Financial Review – Page: 1 & 4 : 10-Jul-15

Federal Opposition Leader Bill Shorten fronted the Royal Commission Into Trade Union Governance & Corruption for a second day on 9 July 2015. Shorten was questioned about Thiess John Holland’s payment of $A300,000 to the Australian Workers’ Union during his tenure as national secretary. He told the commission that he could not recollect discussing the deal, and rejected suggestions that the union had issued fake invoices to the builder in return for the payments.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, THIESS JOHN HOLLAND, ACI, HUNTSMAN CHEMICAL COMPANY AUSTRALIA PTY LTD, CHIQUITA MUSHROOMS PTY LTD

Gordon off to Clifford Chance

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Original article by Katie Walsh
The Australian Financial Review – Page: 33 : 10-Jul-15

UK law firm Clifford Chance has significantly expanded its team of lawyers in Australia since it entered the local market in 2011. The firm intends to further expand its legal team via lateral hires, having recently recruited Allens’ banking and finance partner Richard Gordon. Other recent lateral hires in the legal profession include Chris Robertson’s move from Allen & Overy to King & Wood Mallesons.

CORPORATES
CLIFFORD CHANCE, ALLENS, ALLEN AND OVERY, KING AND WOOD MALLESONS, CLAYTON UTZ, HOGAN LOVELLS INTERNATIONAL LLP, SLAUGHTER AND MAY, LINKLATERS LLP

Crown board signs off on Queen’s Wharf bid

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Original article by Perry Williams
The Australian Financial Review – Page: 19 : 10-Jul-15

CSLA and Deutsche Bank expect Echo Entertainment Group to be the successful bidder for the right to build a new casino in Brisbane. Crown Resorts has finalised its submission to the Queensland Government, which has reiterated that a decision on the winning bid will be made after the state Budget is handed down on 14 July 2015. Opposition Leader Lawrence Springborg has urged the Government to announce the winning bidder immediately.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, CROWN RESORTS LIMITED – ASX CWN, CLSA AUSTRALIA PTY LTD, DEUTSCHE BANK AG, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, GREENLAND HOLDING GROUP COMPANY LIMITED, FAR EAST CONSORTIUM INTERNATIONAL LIMITED, CHOW TAI FOOK ENTERPRISES LIMITED, THE STAR, CREDIT SUISSE (AUSTRALIA) LIMITED

Age bias starts at 47, survey finds

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Original article by Claire Stewart
The Australian Financial Review – Page: 9 : 10-Jul-15

It is estimated that the annual economic contribution of Australian workers over the age of 45 is about $A65bn. However, the Westpac Women of Influence Report shows that business leaders believe that workplace discrimination is becoming a problem for employees at the age of 47. The survey also shows that almost 80 per cent of respondents believe that gender-based discrimination still occurs in Australian workplaces.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. SEXUAL DISCRIMINATION COMMISSION