Author: roymorgansocial

Pre-emptive $A spike attracts ASIC interest

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Original article by Vesna Poljak
The Australian Financial Review – Page: 26 : 8-Apr-15

The Australian Securities & Investments Commission will investigate further unusual currency trading activity on 7 April 2015. The Australian dollar again rose suddenly shortly before the Reserve Bank revealed that it had left the cash rate on hold. The corporate regulator is looking into similar trading activity in the previous two months. The dollar was buying $US0.7699 late in trading, and Richard Yetsenga of the ANZ Bank expects it to remain at around this level in the near-term

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF INDIA, EUROPEAN CENTRAL BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Optus fights off rivals with data boost

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Original article by David Ramli
The Australian Financial Review – Page: 3 : 7-Apr-15

Singtel Optus will offer more generous mobile download limits to new customers. Those signing up to a standard $A60 plan over 24 months will have a monthly limit of three gigabytes of data, compared with the previous limit of 2GB. Optus has 9.39 million mobile subscribers, versus Telstra’s 16.4 million and Vodafone Australia’s 5.3 million

CORPORATES
SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT, TELSTRA CORPORATION LIMITED – ASX TLS, VODAFONE HUTCHISON AUSTRALIA PTY LTD, TPG TELECOM LIMITED – ASX TPM, IINET LIMITED – ASX IIN, FETCHTV PTY LTD, NETFLIX INCORPORATED, MORGAN STANLEY AUSTRALIA LIMITED, AUSTRALIAN COMMUNICATIONS CONSUMER ACTION NETWORK LIMITED

Keep tax credits, raise GST

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Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 7-Apr-15

A poll conducted among more than 560 members of the "Australian Financial Review" Business Leaders Panel suggests that Australians do not want the dividend imputation system to be abolished. They also expressed their opposition to proposals to remove tax concessions for superannuation and to reintroduce estate taxes. An increase in the goods and services tax rate is supported by 60 per cent of the panel

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Bradken told to engage suitors

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Original article by Amanda Saunders, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 15 : 7-Apr-15

Shares in Bradken closed at $A2.29 on 2 April 2015. The stock peaked at $A2.35 in response to revelations that Pacific Equity Partners and Koch Industries had made a takeover offer pitched at $A2.50 per share. The former had previously joined forces with Bain Capital to offer $A5.10 per share for the mining services group. Bradken directors have spurned the latest offer, arguing that it is too low

CORPORATES
BRADKEN LIMITED – ASX BKN, PACIFIC EQUITY PARTNERS PTY LTD, KOCH INDUSTRIES INCORPORATED, BAIN CAPITAL LLC, BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED

Holiday plans hold back clearance rate

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 38 : 7-Apr-15

Sydney’s residential property market recorded an auction clearance rate of 67.9 per cent on the weekend of 4-5 April 2015. The Easter long weekend meant just 34 home went under the hammer, with 19 being sold. Just 13 homes in Melbourne were auctioned on the weekend, and seven were sold. Meanwhile, there was 13.9 per cent growth in residential property prices in Sydney during the year to March, while prices in Melbourne rose by 5.9 per cent

CORPORATES
AUSTRALIAN PROPERTY MONITORS PTY LTD, BRESIC WHITNEY ESTATE AGENTS PTY LTD, McGRATH REAL ESTATE PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED

China steel output may fall 25pc

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Original article by Angus Grigg, Jennifer Hewett, Phillip Coorey, Amanda Saunders
The Australian Financial Review – Page: 1 & 6 : 7-Apr-15

The price of iron ore fell to $US47 per tonne in early April 2015, and it has now shed 63 per cent since the beginning of 2014. Australian economist Ross Garnaut has forecast that steel production in China will decline by 27 per cent in the next 15 years, which would in turn affect demand for Australian iron ore. Meanwhile, Chris Richardson of Deloitte Access Economics notes that the continued fall in the iron ore price will slash Australia’s national income and tax revenue

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, VALE SA, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, BC IRON LIMITED – ASX BCI

Woolworths advised to cut everyday prices in grocery war

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 7-Apr-15

Price competition between Woolworths, Coles and IGA is escalating. UBS states in a new report that the level of intensity in competition between Australian supermarket chains is rising, which suggests that an all-out price war is likely to erupt. UBS advises Woolworths to protect its market share by reducing the prices of popular products and cutting the number of products on promotion

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, INDEPENDENT GROCERS OF AUSTRALIA, METCASH LIMITED – ASX MTS, ENERGIZER AUSTRALIA PTY LTD, CADBURY AUSTRALIA LIMITED, KIRKS FINE FOODS, ALBERT HEIJN, KONINKLIJKE AHOLD NV, UBS HOLDINGS PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, SAFEWAY INCORPORATED, KROGER COMPANY, TESCO PLC, J SAINSBURY PLC, ASDA GROUP PLC, WESFARMERS LIMITED – ASX WES

Mixed bag for Easter retailers

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Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 7-Apr-15

Australian Retailers Association executive director Russell Zimmerman notes that some retailers in Sydney chose to trade on 6 April 2015, despite the public holiday. Restaurateur Mark Scanlan opened one of his three Sydney restaurants on Easter Monday. He has described penalty rates for working on public holidays as "prohibitive", and has called for workplace law reform

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, GARFISH, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, RESTAURANT AND CATERING INDUSTRY ASSOCIATION OF AUSTRALIA INCORPORATED

Kiwis view Economic issues (40%) as the biggest problems facing NZ; Housing shortage/Housing affordability up 4% to 10% in March

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

A Roy Morgan telephone survey has found that 40 per cent of New Zealanders aged 14+ regard economic issues as the most important problem facing the nation. This is followed by government/public policy and human rights issues (26 per cent) and social issues (15 per cent). The survey, which was carried in March 2015, also shows that 41 per cent of New Zealanders rate war and terrorism as the biggest problem facing the world, followed by economic issues (25 per cent)

CORPORATES
ROY MORGAN RESEARCH LIMITED, NEW ZEALAND. DEPT OF THE PRIME MINISTER AND CABINET, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE

Shares to open lower as RBA considers cut

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Original article by Mark Mulligan
The Australian Financial Review – Page: 29 : 7-Apr-15

Futures traders expect the Australian sharemarket to shed 0.15 per cent when trading resumes on 7 April 2015. The benchmark S&P/ASX 200 fell by 0.4 per cent during the previous week. The Reserve Bank’s monthly board meeting will be a focus for investors, with Credit Suisse data showing that financial markets have priced in a 75 per cent chance of a rate cut. Retail sales, construction and mortgage lending data will also be released in coming days

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, RESERVE BANK OF AUSTRALIA, CREDIT SUISSE (AUSTRALIA) LIMITED, BLOOMBERG LP, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF JAPAN, THE AUSTRALIAN INDUSTRY GROUP, UNITED STATES. FEDERAL OPEN MARKET COMMITTEE, SOCIETE GENERALE, OANDA AUSTRALIA PTY LTD, JP MORGAN AUSTRALIA LIMITED