Author: roymorgansocial

‘Budget Bounce’ over for the L-NP as ALP regain initiative with Shorten’s call for same-sex marriage

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 1-Jun-15

A multi-mode Morgan Poll on Federal voting intention has found that support for the Coalition on a two-party preferred basis has fallen by two per cent to 47 per cent. The poll, which was carried out on the weekends of 23-24 and 30-31 May 2015, also shows that the Coalition’s primary vote has risen by 0.5 per cent to 41 per cent, while the Roy Morgan Government Confidence Rating has risen by 0.5 points to 100 points. Roy Morgan Research executive chairman Gary Morgan says the only way for the Government to counter the slowing Australian economy is to undertake comprehensive reforms to increase productivity and "free-up" the labour market.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BUREAU OF STATISTICS, LIBERAL DEMOCRATIC PARTY

Labor states reject Pyne maths plan

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Original article by Tim Dodd
The Australian Financial Review – Page: 1 & 9 : 1-Jun-15

The Australian Government will press ahead with policies aimed at lifting the number of students who study maths and science until the end of high school. It is estimated that while around 80 per cent of students study maths in year 12, many study maths only at a basic level. There is widespread opposition to a proposal by Education Minister Christopher to require all students to study either maths or science in year 12, including within the Australian Labor Party, state Labor governments and the Business Council of Australia.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN MATHEMATICAL SCIENCES INSTITUTE, VICTORIA. DEPT OF EDUCATION AND TRAINING, UNIVERSITY OF SYDNEY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Insurer’s premiums cast cloud

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Original article by Tim Binsted
The Australian Financial Review – Page: 18 : 1-Jun-15

Morgan Stanley’s Daniel Toohey values Medibank Private shares at $A1.85, compared with the issue price of $A2 for retail investors in the 2014 IPO. Morgan Stanley forecasts that Medibank’s lapse rate will rise from 10 per cent to 15 per cent, while Toohey says the growth of its budget-priced ahm brand may come at the expense of the main brand’s customer base. Medibank’s earnings are also likely to be affected by customers opting to reduce their health insurance coverage in order to save money.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AHM HEALTH INSURANCE, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE SECURITIES PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, DEUTSCHE BANK AG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

Mercer revives independent director debate

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Original article by Sally Patten
The Australian Financial Review – Page: 19 : 1-Jun-15

A new report from Mercer has called for Australian superannuation funds to have more independent directors. The firm says this trend is gathering pace in many developed countries, which has also been noted by the OECD. The Australian Government is tipped to outline its policy on the issue later in 2015, and Assistant Treasurer Josh Frydenberg is believed to favour a requirement for at least 33 per cent of a super fund’s directors to be independent.

CORPORATES
MERCER INVESTMENTS PTY LTD, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, GREAT BRITAIN. FINANCIAL CONDUCT AUTHORITY

Blackley back on board for SCM M&A bonanza

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Original article by Dominic White
The Australian Financial Review – Page: 35 : 1-Jun-15

Southern Cross Media Group chairman Peter Bush expects mergers in Australia’s media sector if cross-media ownership laws are changed. He says the industry expertise of new CEO Grant Blackley will be an asset when dealing with the new media landscape. Bush adds that one of Blackley’s key tasks will be to assess the group’s "peak value". Blackley is a former CEO of the Ten Network.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FREE TV AUSTRALIA LIMITED, KEYSTONE GROUP PTY LTD

Fortescue CFO hits back at Vale

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Original article by Perry Williams
The Australian Financial Review – Page: 15 & 20 : 1-Jun-15

The break-even price for iron ore producer Fortescue Metals Group was about $US60 per tonne in late 2014, but the group aims to reduce this to $US41 during the next three months. CFO Stephen Pearce says Fortescue expects its break-even price to fall slightly below that of Brazilian rival Vale in the near-term. He has also rejected suggestions by the China Iron & Steel Association’s Li Xinchuang that Fortescue will need to take on an equity partner.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, CHINA IRON AND STEEL INDUSTRY ASSOCIATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, DEUTSCHE BANK AG, MINERALS COUNCIL OF AUSTRALIA

Burson eyes Metcash auto

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Original article by Simon Evans
The Australian Financial Review – Page: 17 : 1-Jun-15

Australian-listed Burson Group aims to open four automotive parts stores in Western Australia in coming months, with the first earmarked for the Perth suburb of Malaga. Meanwhile, CEO Darryl Abotomey says the company is a potential buyer of Metcash’s automotive division, but he adds that it would only do so if the transaction made "economic sense". Metcash flagged the sale of the business in May 2015.

CORPORATES
BURSON GROUP LIMITED – ASX BAP, METCASH LIMITED – ASX MTS, AUTOBARN PTY LTD, MIDAS MUFFLERS, AUTOMOTIVE BRANDS GROUP PTY LTD, ULTRA TUNE AUSTRALIA PTY LTD, KMART TYRE AND AUTO, AUTOMOTIVE HOLDINGS GROUP LIMITED – ASX AHG, COVS PARTS PTY LTD, GENUINE PARTS COMPANY, REPCO CORPORATION LIMITED

Echo chief on edge over delayed Genting decision

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Original article by Perry Williams
The Australian Financial Review – Page: 17 : 1-Jun-15

The New South Wales Independent Liquor & Gaming Authority has yet to make a decision on an application by Malaysia-based Genting to lift its stake in Echo Entertainment Group. Genting has a 6.6 per cent stake in the casino operator, but it sought approval in 2012 to increase its stake to a maximum of 25 per cent. At present, shareholdings are limited to 10 per cent of Echo’s share register.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, GENTING BERHAD, NEW SOUTH WALES. INDEPENDENT LIQUOR AND GAMING AUTHORITY, THE STAR, CROWN RESORTS LIMITED – ASX CWN, RESORTS WORLD BERHAD

Spotify adding 60,000 Australians per week

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Original article by Max Mason
The Australian Financial Review – Page: 37 : 1-Jun-15

Spotify estimates that about 25 per cent of Australians have used its music streaming service at some point. Spotify says it is gaining about 60,000 additional users in Australia each week, and the rate of conversion to its paid service is estimated to top 30 per cent. Spotify’s MD in Australia, Kate Vale, forecasts that some rivals will either merge or quit Australia in coming years, and she believes that the local market can sustain 3-4 players in the long-term.

CORPORATES
SPOTIFY LIMITED, VODAFONE AUSTRALIA LIMITED, UBER TECHNOLOGIES INCORPORATED, SONY CORPORATION, NOVA ENTERTAINMENT PTY LTD, RDIO INCORPORATED, PANDORA MEDIA INCORPORATED, COMEDY CENTRAL, AUSTRALIAN BROADCASTING CORPORATION

Chi-X issues new challenge to ASX

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Original article by Shaun Drummond, Jonathan Shapiro
The Australian Financial Review – Page: 19 : 1-Jun-15

Stock exchange operator Chi-X Australia will begin offering warrants trading later in 2015, entering a market that has been shunned in recent years. Chi-X CEO John Fildes notes that just one company currently issues warrants in Australia, and blames ASX Limited’s high fees. Chi-X also plans to allow equities to be traded for an additional eight minutes after the official close of trading, while it will begin offering exchange-traded funds in 2016.

CORPORATES
CHI-X AUSTRALIA PTY LTD, ASX LIMITED – ASX ASX, MACQUARIE GROUP LIMITED – ASX MQG, STOXX, DEUTSCHE BOERSE, SWISS STOCK EXCHANGE