Author: roymorgansocial

Don’t hoard super, says Morrison

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Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 25-May-15

Some 90 per cent of people on lower incomes will be adversely affected by measures in the Australian Government’s 2014 and 2015 Budgets, according to research by the National Centre for Social & Economic Modelling. Changes to the pension assets test will hit retirees with significant assets in particular, but Social Services Minister Scott Morrison argues that they should rely on their superannuation savings rather than the age pension.

CORPORATES
UNIVERSITY OF CANBERRA. NATIONAL CENTRE FOR SOCIAL AND ECONOMIC MODELLING, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

A royal rift over the title to silk

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Original article by Katie Walsh
The Australian Financial Review – Page: 33 : 22-May-15

New South Wales (NSW) dropped the Queen’s Counsel (QC) designation for barristers who have taken silk in 1993, but the state’s Bar Council will push for it to be reinstated. The NSW Bar Association rejected a push to reintroduce QC in 2014, and former president Phillip Boulten says there is still no compelling reason to do so. Victoria and Queensland have reinstated the title, and most silks in those states have made the switch from SC.

CORPORATES
NEW SOUTH WALES BAR COUNCIL, NEW SOUTH WALES BAR ASSOCIATION, NEW SOUTH WALES. DEPT OF ATTORNEY GENERAL AND JUSTICE

2015 property purchase intention: Melbourne overtakes Sydney – but is a new boom town looming?

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 21-May-15

A Roy Morgan Single Source survey has found that 6.8 per cent of Australians aged +14 intend to buy or build a residential property in the next year. The survey, which was carried out in the year to March 2015, also shows that 9.8 per cent of Perth residents intend to buy or build a new or established house or apartment in the next year, ahead of Melburnians (9.3 per cent) and Sydneysiders (7.8 per cent). Just 3.5 per cent of Hobart residents intend to buy or build in the next 12 months.

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ROY MORGAN RESEARCH LIMITED

Home-brand products have a way to go with grocery buyers

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 21-May-15

A Roy Morgan Single Source survey has found that 47% per cent of Australians aged 14+ who are main grocery buyers say they will go out of their way for a bargain. The survey, which was carried out in the year to December 2014, also shows that 70 per cent of main grocery buyers stick to their favourite brands for most things they buy, and just 38 per cent buy more store-brand products than well-known brands. However, 63% of grocery-buyers who usually shop at Aldi say they buy more store-brand products than well-known brands, while 60 per cent are willing to go out of their way for a bargain.

CORPORATES
ROY MORGAN RESEARCH LIMITED, ALDI STORES SUPERMARKETS PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, AUSTRALIAN SAFEWAY STORES PTY LTD, FOODLAND AUSTRALIA LIMITED

Masters fails to stem tide of red ink

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 18 : 22-May-15

The Masters Home Improvement chain is expected to post a loss of at least $A200m for 2014-15. Deutsche Bank’s figures suggest that the hardware joint venture made a loss of $A66m in the March 2015 quarter and is losing some $A5.1m each week. Woolworths and US-based Lowe’s have invested $A3.07m in Masters so far, and recently invested an additional $A45m in the business. Lowe’s has a 33 per cent stake in the joint venture.

CORPORATES
MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, LOWE’S COMPANIES INCORPORATED, DEUTSCHE BANK AG, CITIGROUP PTY LTD, HYDROX HOLDINGS PTY LTD, COLES GROUP LIMITED, ALDI STORES SUPERMARKETS PTY LTD, HOME TIMBER AND HARDWARE

BHP Billiton fined $31m over Olympics largesse

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Original article by John Kehoe, Nick McKenzie, Richard Baker, Lucille Keen
The Australian Financial Review – Page: 8 : 22-May-15

The US Securities & Exchange Commission has fined resources giant BHP Billiton $US25m ($A31.6m) over the provision of hospitality services to government officials during the 2008 Beijing Olympic Games. BHP was found to have breached anti-bribery laws by providing Olympic tickets and hotel accommodation to officials from Asian and African countries, including China. BHP was a sponsor of the 2008 Olympics.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION, AUSTRALIAN FEDERAL POLICE, WESTERN AUSTRALIA. CORRUPTION AND CRIME COMMISSION

Hardie cash splash ignores compo deal

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 22-May-15

James Hardie Industries has posted a $US221.4m profit for the year to 31 March 2015, which is 12 per cent higher than previously. The building materials group will pay out a total of $US120.3m in dividends for the second half of the financial year, plus a special dividend of $US98m. Payments to the Asbestos Injuries Compensation Fund for fiscal 2015 totalled $US113m. James Hardie shares closed 11.6 per cent higher at $A16.99 on 21 May 2015.

CORPORATES
JAMES HARDIE INDUSTRIES PLC – ASX JHX, ASBESTOS INJURIES COMPENSATION FUND LIMITED, NEW SOUTH WALES. THE TREASURY

‘Leaner’ Woodside targets acquisitions

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 18 : 22-May-15

Woodside Petroleum is expected to decide whether to proceed with the Greater Enfield oil project in 2016. The group will commence engineering and design work on the Western Australian project ahead of schedule, in order to secure lower costs for oil rigs. CEO Peter Coleman has also flagged acquisitions, including oil projects and LNG receiving terminals in Asia. Woodside is also seeking to reduce costs and improve productivity.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE CORPORATION, RBC CAPITAL MARKETS, CHEVRON CORPORATION, WOOD MACKENZIE, MITSUI AND COMPANY LIMITED

Wesfarmers moves to back Coles over coal

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Original article by Sue Mitchell
The Australian Financial Review – Page: 18 : 22-May-15

Financial market analysts have downgraded Wesfarmers’ profit and earnings per share forecasts for 2015, although there is widespread support for the conglomerate’s move to focus capital investment on its Coles and Bunnings chains. Ben Gilbert of UBS says the Bunnings hardware business in particular still offers huge growth potential, noting that its return on capital exceeds 30 per cent.

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, BUNNINGS GROUP LIMITED, UBS HOLDINGS PTY LTD, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, PACIFIC BRANDS LIMITED – ASX PBG, CITIGROUP PTY LTD, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, MACQUARIE EQUITIES LIMITED

ACCC clears Federation-Novion merger

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 34 : 22-May-15

The Australian Competition & Consumer Commission has approved a $A12bn merger between Federation Centres and Novion Property Group. However, the merged entity will be required to divest either the Karingal Hub or Bayside shopping centre, which are both located in the Melbourne suburb of Frankston. Novion investors are scheduled to vote on the merger in late May 2015.

CORPORATES
FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, KARINGAL HUB, BAYSIDE SHOPPING CENTRE, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SHAYHER GROUP, CAPALABA CENTRAL