Author: roymorgansocial

ME Bank aims for rapid mortgage growth despite credit rules

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Original article by Clancy Yeates
The Australian Financial Review – Page: 19 : 23-Jun-15

Industry superannuation fund-backed ME Bank hopes to increase annual growth in home loan customers to 20 per cent over the next three years, according to CEO Jamie McPhee. This compares with its current growth rate of about 10 per cent a year. McPhee adds that a $A90m capital investment in ME Bank’s IT systems will increase efficiencies and support its growth ambitions by allowing the group to offer a wider range of home loan products.

CORPORATES
ME BANK, MEMBERS EQUITY BANK PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSSIE HOME LOANS LIMITED, MORTGAGE CHOICE LIMITED – ASX MOC

‘More holistic’ leadership will save billions

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 22-Jun-15

Research by consulting firm Agilience has found that the total cost blowout of 44 large infrastructure projects in Australia was around $A6bn. WestConnex Delivery Authority chairman Tony Shepherd says the research demonstrates that more efficient management of large-scale infrastructure projects can result in significant cost savings. He has called for a more holistic approach to leadership of such projects.

CORPORATES
AGILIENCE, NEW SOUTH WALES. WESTCONNEX DELIVERY AUTHORITY, AUSTRALIAN CONSTRUCTORS ASSOCIATION LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BOUYGUES SA, LEND LEASE GROUP LIMITED – ASX LLC, URBANGROWTH NSW

Listing to fast-track expansion for Reffind

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 21 : 22-Jun-15

Reffind is slated to list on the Australian sharemarket on 9 July 2015, after issuing shares at $A0.20 in its IPO. The group, which specialises in the provision of technology solutions for the human resources industry, will have a market capitalisation of around $A20m on debut. Clients include Coles, AMP, Coca-Cola Amatil and Pacific Brands.

CORPORATES
REFFIND LIMITED – ASX RFN, COLES GROUP LIMITED, AMP LIMITED – ASX AMP, COCA-COLA AMATIL LIMITED – ASX CCL, PACIFIC BRANDS LIMITED – ASX PBG, 1-PAGE LIMITED – ASX 1PG, REA GROUP LIMITED – ASX REA, WESTPAC BANKING CORPORATION – ASX WBC, MORGAN AND BANKS, MONSTER.COM, FOSTER STOCKBROKING PTY LTD

RBA tool blunted: ANZ

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 21 : 22-Jun-15

The Reserve Bank of Australia’s policy of reducing interest rates was intended to encourage consumers to spend. However, ANZ Bank economists have concluded that people nearing retirement are in fact saving rather than spending. They also note that older Australians are also saving more as a result of uncertainty concerning superannuation policy.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

BHP-Rio face US opposition to copper mine expansion

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Original article by John Kehoe
The Australian Financial Review – Page: 13 & 18 : 22-Jun-15

The proposed Resolution Copper project in Arizona remains uncertain due to a push to overturn legislation passed by the US Congress for a land-swap deal. Rio Tinto holds a 55 per cent stake in the Resolution Copper joint venture and BHP Billiton holds the remainder. A group of House of Representatives members has introduced legislation to nullify the land-swap, while Apaches object to the project as it is on land adjacent to a sacred site.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, RESOLUTION COPPER MINING LLC, REPUBLICAN PARTY (UNITED STATES), DEMOCRATIC PARTY (UNITED STATES), UNITED STATES. DEPT OF THE INTERIOR

Football rights on agenda as providers talk to codes

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Original article by John Stensholt, Jared Lynch
The Australian Financial Review – Page: 30 : 22-Jun-15

The latest five-year deals for Australian Football League and National Rugby League broadcasting rights are expected to fetch between $A1.5bn and $A2bn. Both codes are believed to have held talks with digital companies and online steaming services. However, companies such as Google and Netflix are expected to partner with traditional media companies to offer content rather than providing live streaming of matches themselves. Singtel Optus is also keen to secure digital broadcasting rights.

CORPORATES
AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, GOOGLE INCORPORATED, NETFLIX INCORPORATED, SINGTEL OPTUS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, FETCHTV PTY LTD, FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOX SPORTS AUSTRALIA PTY LTD, SKY SPORTS, FOX FOOTY CHANNEL

South32 faces earnings slide, growing pains hit

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 22-Jun-15

Shares in BHP Billiton spinoff South32 fell by $A0.07 to close at $A1.96 on 19 June 2015, at the stock’s lowest level since its sharemarket debut in mid-May. Sentiment toward South32 has been hit by a slump in the prices of the commodities that it produces, with the spot price of copper falling to its lowest level since 2008. Some observers argue that many of the benefits arising from the demerger – for both South32 and BHP – may not be realised for a number of years.

CORPORATES
SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, SHAW STOCKBROKING LIMITED, BLUESCOPE STEEL LIMITED – ASX BSL, LIBERUM CAPITAL LIMITED, ABERDEEN ASSET MANAGEMENT LIMITED, RIO TINTO LIMITED – ASX RIO

Take-off in US tourists tipped

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Original article by Matt O’Sullivan
The Australian Financial Review – Page: 18 : 22-Jun-15

Tourism Australia has secured a new marketing deal with Virgin Australia Holdings, after first joining forces to promote Australia in 2012. The two groups will jointly spend $A50m to promote the nation, with the US to be targeted initially. Meanwhile, Virgin CEO John Borghetti anticipates an upturn in tourists from the US due to the lower value of the Australian dollar. Tourism Australia has also renewed its marketing deal with Etihad.

CORPORATES
TOURISM AUSTRALIA PTY LTD, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, ETIHAD AIRWAYS, QANTAS AIRWAYS LIMITED – ASX QAN, DELTA AIR LINES, AMERICAN AIRLINES INCORPORATED

Gerry follows Gina into dairy

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Original article by Matthew Cranston
The Australian Financial Review – Page: 31 : 22-Jun-15

Harvey Norman co-founder Gerry Harvey has invested in Coomboona Holsteins, a 2,000-hectare dairy farm in regional Victoria. He is understood to be initially investing about $A20m in the farm, but this could potentially rise to around $A80m. Mining magnate Gina Rinehart is also actively investing in the dairy sector.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, COOMBOONA HOLSTEINS PTY LTD, HOPE DAIRIES PTY LTD, CHINA NATIONAL MACHINERY INDUSTRY CORPORATION, BANNISTER DOWNS DAIRY COMPANY

Davis ready to take APN reins

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 22-Jun-15

Australian Radio Network (ARN) CEO Ciaran Davis will succeed Michael Miller as CEO of parent company APN News & Media. ARN recruited Kyle Sandilands and Jackie Henderson for the rebranded KIIS radio station during Davis’s five-year tenure as CEO. Meanwhile, Miller will become executive chairman of News Corp’s Australasian division.

CORPORATES
APN NEWS AND MEDIA LIMITED – ASX APN, AUSTRALIAN RADIO NETWORK PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, KIIS1065, MIX-FM, 2DAY FM AUSTRALIA PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL