Author: roymorgansocial

Australian June real unemployment 9.3% – down for fourth consecutive month

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Jul-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 9.3 per cent in June 2015. The number of people in the workforce now totals 12,755,000 (up 247,000 since May 2014), while the number of people who are underemployed has fallen by 59,000 in the last 12 months to 1,129,000 (8.9 per cent of the workforce). The official unemployment rate was 6.0 per cent in May 2015. Roy Morgan Research executive chairman Gary Morgan says the Federal Government must look at the abolition of Sunday and public holiday penalty rates for the tourism and retail industries, as these measures have a detrimental impact on small businesses, which are forced to close on Sundays and public holidays.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Tennis, cycling and socio-economic advantage

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 1-Jul-15

A Roy Morgan Single Source survey has found that 6.8 million Australians aged 14+ watch tennis on TV almost always or occasionally. The survey, which was carried out in the year to March 2015, also shows that 25 per cent of them are from the affluent AB socio-economic quintile, while the least well-off E and FG quintiles each account for 18% of tennis viewers. Meanwhile, 3.8 million Australians watch cycling on TV, with the AB quintile comprising 28 per cent of viewers. The survey also shows that 33 per cent of Australians who play tennis are in the AB quintile, as are 30 per cent of Australians who cycle.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Weaker dollar – more holidays at home

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Original article by Jamie Freed
The Australian Financial Review – Page: 8 : 2-Jul-15

Data shows that Australians spent a total of $A55.7bn on domestic overnight trips in the year to March 2015, which is six per cent higher than previously. Meanwhile, there was three per cent growth in the number of Australians who opted for a holiday within Australia in the March 2015 quarter. The National Visitor Survey, which was undertaken by Tourism Research Australia, also found that the number of Australians taking overseas holidays rose by three per cent in the year to March.

CORPORATES
TOURISM RESEARCH AUSTRALIA, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN

Tassal reels in De Costi

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Original article by Jared Lynch
The Australian Financial Review – Page: 27 : 2-Jul-15

Shares in Australian-listed Tassal Group closed 8.1 per cent higher at $A3.60 on 1 July 2015, in response to a deal to acquire De Costi Seafoods. Tassal has advised that the $A50m cash component of the deal will be financed via debt, while De Costi will also be issued up to 10 million shares in the salmon producer over three years.

CORPORATES
TASSAL GROUP LIMITED – ASX TGR, DE-COSTI SEAFOODS (HOLDINGS) PTY LTD, SYDNEY FISH MARKETS PTY LTD

A-REITs have a good year but a tough month

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Original article by Robert Harley
The Australian Financial Review – Page: 38 : 2-Jul-15

Australian real estate investment trusts generally performed well during 2014-15, although support for the sector turned bearish in the final month of the fiscal year. DEXUS Property Group, Mirvac Group and GPT Group in particular were heavily sold down in June 2015. BT Investment Management’s Julia Forrest expects mergers and acquisition activity to be a key driver for the sector in 2015-16.

CORPORATES
DEXUS PROPERTY GROUP – ASX DXS, MIRVAC GROUP – ASX MGR, GPT GROUP – ASX GPT, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, INVESTA PROPERTY GROUP, DOW JONES EQUITY ALL REIT TOTAL RETURN INDEX, MANULIFE FINANCIAL CORPORATION, BLOOMBERG LP, OMAN INVESTMENT FUND, FORTRESS CAPITAL ASSET MANAGEMENT, NIKKO ASSET MANAGEMENT GROUP, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COLES GROUP LIMITED, GIC REAL ESTATE PTE LTD

Apple Music switches model to subscriptions, taking on Spotify

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Original article by John Davidson
The Australian Financial Review – Page: 4 : 2-Jul-15

Apple launched its new music streaming service on 1 July 2015. The subscription fee for Apple Music will be waived for the first three months, and users will then pay $A11.99 per month. Telsyte MD Foad Fadaghi expects the new service to be popular with iPhone users, as the Apple Music app will be automatically installed on their devices. Apple has traditionally sold individual albums or songs via downloads from its iTunes store.

CORPORATES
APPLE INCORPORATED, TELSYTE PTY LTD, SPOTIFY LIMITED, GOOGLE INCORPORATED

Duke to cut stake in company under Kathmandu offer

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 21 & 26 : 2-Jul-15

Shares in adventurewear retailer Kathmandu Holdings closed $A0.04 lower on 1 July 2015, at $A1.53. Briscoe Group MD Rod Duke says his company’s cash and scrip takeover bid is "very fair", and adds that the two businesses are "very complementary". Duke has also indicated that New Zealand-based Briscoe will seek to list on the Australian sharemarket if its $A324m bid succeeds. He will also reduce his stake in Briscoe from 78 per cent to 55.1 per cent.

CORPORATES
KATHMANDU HOLDINGS LIMITED – ASX KMD, BRISCOE GROUP LIMITED, REBEL SPORT LIMITED, QUADRANT PRIVATE EQUITY PTY LTD

Abbott bowed to mates: Hartigan

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 2-Jul-15

Regional TV broadcasters will use a media campaign to push for the Australian Government to reconsider its decision to shelve cross-media ownership reforms. Prime Media Group chairman John Hartigan has warned that jobs at regional broadcasters and local news services will be at risk if the proposed reforms to do not proceed. He has suggested that Prime Minister Tony Abbott was "kowtowing" to media barons Rupert Murdoch and Kerry Stokes in abandoning the reforms.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF COMMUNICATIONS, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, FOXTEL MANAGEMENT PTY LTD, NOVA, AUSTRALIA. DEPT OF AGRICULTURE

Woodside’s FLNG venture design begins

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 26 : 2-Jul-15

Australian-listed Woodside Petroleum and its partners in the Browse floating LNG project will commence front-end engineering and design work. Woodside still hopes a final decision on the project will be made in the second half of 2016, although Citigroup recently forecast that a decision will be delayed until mid-2017. Woodside will hold a 30.6 per cent stake in the Browse project, which has not secured any customers.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BP PLC, MITSUI AND COMPANY LIMITED, MITSUBISHI CORPORATION, PETROCHINA COMPANY LIMITED, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD

Brookfield pressed on Asciano bid

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Original article by Perry Williams, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 1 & 10 : 2-Jul-15

Australian-listed transport infrastructure group Asciano has advised that Canada’s Brookfield Asset Management made an indicative takeover offer on 26 June 2015. The $A9bn non-binding bid values the target at $A9.05 per share, but Jakov Males of UBS Global Asset Management believes that an offer of around $A10 per share would be more appropriate. The proposed takeover bid comprises a cash component and shares in Brookfield Infrastructure Partners.

CORPORATES
ASCIANO LIMITED – ASX AIO, BROOKFIELD ASSET MANAGEMENT INCORPORATED, BROOKFIELD INFRASTRUCTURE PARTNERS LP, UBS GLOBAL ASSET MANAGEMENT (AUSTRALIA) LIMITED, DEUTSCHE BANK AG, FIDELITY INVESTMENTS AUSTRALIA LIMITED, SABMILLER PLC, FOSTER’S GROUP LIMITED, TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED, MULTIPLEX LIMITED, PACIFIC NATIONAL PTY LTD, PATRICK CORPORATION LIMITED, COLONIAL FIRST STATE GROUP LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, GRESHAM PARTNERS LIMITED, CITIGROUP INCORPORATED