Author: roymorgansocial

Westpac nabs CBA’s Cobley for top role

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Original article by James Chessell, Sarah Thompson, James Eyers
The Australian Financial Review – Page: 18 : 27-May-15

Westpac has announced that Lyn Cobley will succeed Rob Whitfield as the head of its institutional banking division. Cobley is currently the head of retail products and third-party banking at the Commonwealth Bank of Australia (CBA). She had previously worked for groups such as Barclays Capital and Citigroup, and was regarded as a potential successor to CBA CEO Ian Narev. Whitfield will step down on 10 July 2015, after nearly three decades at Westpac.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BARCLAYS CAPITAL SECURITIES LIMITED, CITIGROUP PTY LTD, ERNST AND YOUNG, TRADINGROOM PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, FAIRFAX MEDIA LIMITED – ASX FXJ, WESTPAC INSTITUTIONAL BANK, ST GEORGE BANK LIMITED

Tech crunch: Aussie households ditch 800,000 DVD players, 500,000 digital cameras and 5.7 million old TVs

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 25-May-15

A Roy Morgan Single Source survey has found that 75 per cent of Australian homes had a DVD player by 2008, but since then more than 800,000 homes have thrown out at least one DVD player. Roy Morgan’s technology ownership data also shows that between 2000 and the peak in 2009, 60 per cent of households owned a digital camera, but half a million homes subsequently ditched their digital cameras in favour of taking photos with their mobile phones. Likewise, ownership of iPods peaked in 2013, when 32 per cent of homes had at least one, but over the next year this declined to 30% of households.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Low rates, yields to hit Suncorp, IAG

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Original article by Ruth Liew
The Australian Financial Review – Page: 18 : 26-May-15

The earnings of Australian-listed insurance companies are likely to be affected by low interest rates and bond yields. Investment income accounts for around 40 per cent of QBE Insurance Group’s profits, compared with 25 per cent in the case of Insurance Australia Group (IAG) and Suncorp. IAG CEO Mike Wilkins says most of the company’s insurance book comprises "short tail risk".

CORPORATES
QBE INSURANCE GROUP LIMITED – ASX QBE, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, SUNCORP GROUP LIMITED – ASX SUN, CREDIT SUISSE (AUSTRALIA) LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Banks, miners tipped for drop

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Original article by Tim Binsted
The Australian Financial Review – Page: 29 : 26-May-15

Credit Suisse notes that Australian-listed companies’ dividend payout ratios are at their highest levels in more than two decades. Richard Hitchens of Credit Suisse notes that investors recently sold down bank stocks after their interim dividends were lower than expected. He adds that groups such as Aurizon, GPT Group and Santos may also find it hard to increase their dividends.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, AURIZON HOLDINGS LIMITED – ASX AZJ, GPT GROUP – ASX GPT, SANTOS LIMITED – ASX STO, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, TELSTRA CORPORATION LIMITED – ASX TLS, DEUTSCHE BANK AG, UNITED STATES. FEDERAL RESERVE BOARD, EUROPEAN CENTRAL BANK

Internet overtakes newspapers at breakfast, but radio still the most-used media in the morning

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 25-May-15

A Roy Morgan Single Source survey has found that 72 per cent of Australians aged 14+ reported using one or more forms of media at breakfast time on weekdays during the year to March 2015. This has remained steady over the past five years. However, 16 per cent of Australians are going online first thing in the morning, compared with 8.5 per cent in the year to March 2010. Meanwhile, the proportion who read newspapers at breakfast has fallen by four per cent to 15.9 per cent since 2010, while the proportion who listen to the radio at breakfast has fallen by four per cent to 28.1 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Rising unemployment among young Aussies matched by increasing anxiety, depression and stress

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 25-May-15

A Roy Morgan Single Source survey has found that 9.5 per cent of Australians aged 18-24 were looking for work in 2010. This figure had almost doubled to 18.9 per cent by the end of 2014. Meanwhile, the proportion of 18-24 year-olds who reported experiencing anxiety in an average 12 months has risen from 11.2 per cent to 23 per cent over the last five years, which is the highest incidence of any age group and well above the national average of 16.6 per cent. The survey also shows that proportion of 18-24 year-olds affected by stress has grown from 24 per cent to 33.7 per cent, while the incidence of depression has increased from 11.3 per cent to 19.4 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Westpac institutional banking head Rob Whitfield leaving

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Original article by James Chessell, Sarah Thompson
The Australian Financial Review – Page: 15 : 26-May-15

Westpac may appoint an external candidate to succeed the group’s head of institutional banking, Rob Whitfield, who is widely tipped to stand down. Whitfield has been in the role since 2007 and has been at Westpac since 1986. He had been in the running to succeed Gail Kelly as CEO earlier in 2015. Internal candidates to replace him are said to include Anthony Masciantonio, Rachel Slade and Terry Winder.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, WESTPAC INSTITUTIONAL BANK, ST GEORGE BANK LIMITED, LLOYDS BANKING GROUP PLC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ROYAL BANK OF SCOTLAND GROUP PLC, BANK OF QUEENSLAND LIMITED – ASX BOQ, PETER LEE ASSOCIATES PTY LTD, BT FINANCIAL GROUP PTY LTD

Patrick Grove, 40, cracks the Rich List with $286m

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 9 : 26-May-15

The 2015 edition of the "BRW" Rich List includes 12 new technology entrepreneurs, including iFlix founder Patrick Grove. The company offers streaming video services for mobile phone users in Asia, which Grove notes is a market of up to 250 million people. Grove has previously listed a number of companies on the Australian sharemarket, including iProperty and iCar Asia, and he says an iFlix IPO is possible in the future.

CORPORATES
IFLIX LIMITED, IPROPERTY GROUP LIMITED – ASX IPP, ICAR ASIA LIMITED – ASX ICQ, IBUY GROUP LIMITED, REV ASIA BERHAD, NETFLIX INCORPORATED, HULU LLC, CATCHA GROUP, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN, REA GROUP LIMITED – ASX REA, ANDERSEN

Evolution buys coveted Cowal gold mine

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Original article by Peter Ker
The Australian Financial Review – Page: 20 : 26-May-15

Barrick Gold Corporation will sell its Cowal gold mine in New South Wales to Evolution Mining. The deal will increase Evolution’s annual gold output to more than 800,000 ounces, making it Australia’s second-largest listed gold miner. Jo Battershill of UBS says the Cowal’s mines $US550m ($A704m) sale price is near his estimate of fair value. Evolution will partially finance the deal via a $A248m capital raising.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, BARRICK GOLD CORPORATION, UBS HOLDINGS PTY LTD, NEWCREST MINING LIMITED – ASX NCM, LA MANCHA RESOURCES INCORPORATED, NORTHERN STAR RESOURCES LIMITED – ASX NST

‘Unsolicited offers’ for Healthscope arm

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Original article by Tim Binsted
The Australian Financial Review – Page: 21 : 26-May-15

The pathology division of Healthscope boasts a market share of about 13 per cent, but its EBITDA for the first half of 2014-15 fell by 23 per cent to $A9.3m. Factors such as competition in the sector and a reduction in Medicare fees have also affected revenue. Healthscope CEO Robert Cooke says the group is often is approached about selling parts of its business but stresses that a sale process for the pathology unit is not underway.

CORPORATES
HEALTHSCOPE LIMITED – ASX HSO, SONIC HEALTHCARE LIMITED – ASX SHL, PRIMARY HEALTH CARE LIMITED – ASX PRY, CLSA AUSTRALIA PTY LTD, CRESCENT CAPITAL PARTNERS LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION