Author: roymorgansocial

Double trouble as banks face new levy

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Original article by Shaun DrummondPhillip Coorey
The Australian Financial Review – Page: 10 : 30-Mar-15

The Australian Government will proceed with an 0.05 per cent levy on bank deposits that was first proposed by the Australian Labor Party when it was in office. The Australian Greens will support the levy on bank deposit of up to $A250,000, although this support is conditional on it applying only to the four major banks. The levy will be used to finance the deposit guarantee scheme, but CUA CEO Rob Goudswaard says it will have a major impact on mutual lenders

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AUSTRALIA. DEPT OF THE TREASURYCREDIT UNION AUSTRALIA LIMITEDCUSTOMER OWNED BANKING ASSOCIATIONAUSTRALIAN LABOR PARTYAUSTRALIAN GREENSAUSTRALIAN BANKERS’ ASSOCIATIONAUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Fewer kids playing (and watching) cricket and football

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Mar-15

A Roy Morgan Young Australians Survey has found that 21 per cent of Australian aged between six and 13 played cricket at school in the year to December 2014, while 14 per cent played cricket outside of school hours. This compares with 23 per cent and 15 per cent respectively in 2010. The survey also shows that the proportion of Australians aged 6-13 playing Australian Rules football at school has fallen from 17 per cent to 15 per cent, while those who play this sport outside school hours has fallen from 12 per cent to 10 per cent

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ROY MORGAN RESEARCH LIMITEDAUSTRALIAN FOOTBALL LEAGUE

Booze news: Australians’ alcohol habits by age

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Mar-15

A Roy Morgan Single Source survey has found that 68 per cent of Australians aged 18+ drank alcohol in any given four-week period in the year to December 2014. The survey also shows that 66 per cent of Australians aged between 18 and 29 drink alcohol in any given four weeks, compared with 69 per cent of those aged 30+. Meanwhile, 48% of those aged 30+ drink wine in an average four weeks, compared with 32 per cent of under-30s, while 39 per cent of the latter age group drink beer and 36 per cent of over-30s do so

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ROY MORGAN RESEARCH LIMITED

Job loss warning on 4.2pc pay push

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Original article by Ewin Hannan
The Australian Financial Review – Page: 9 : 27-Mar-15

The Australian Chamber of Commerce & Industry has warned that the ACTU’s bid to have the minimum wage increased by 4.2 per cent could cost jobs and will discourage employers from taking on new staff. The push to increase the minimum wage by $A27 a week to $A667.90 has also been criticised by the Australian Industry Group. CEO Innes Willox describes it as "unrealistic" and "unsustainable"

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AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRYTHE AUSTRALIAN INDUSTRY GROUPACTUAUSTRALIA. FAIR WORK COMMISSIONORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Falloon takes Fairfax chair in August

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Original article by Dominic White
The Australian Financial Review – Page: 19 : 27-Mar-15

Fairfax Media has confirmed that Nick Falloon will succeed Roger Corbett as chairman at the end of August 2015. Falloon has joined the media group’s board as a non-executive director, and has previously been CEO of Ten Network Holdings and Publishing & Broadcasting Limited. Corbett has been a Fairfax director for more than 12 years

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FAIRFAX MEDIA LIMITED – ASX FXJTEN NETWORK HOLDINGS LIMITED – ASX TENPUBLISHING AND BROADCASTING LIMITEDACP MAGAZINES LIMITEDNINE NETWORK AUSTRALIA LIMITEDCROWN MELBOURNE LIMITEDONE.TEL LIMITED

Strategist predicts one-in-three chance of local recession

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Original article by Patrick Begley
The Australian Financial Review – Page: 22 : 27-Mar-15

Financial market strategist Gerard Minack forecasts that Australia will have lower economic growth in the next 12 months, and he estimates that there is a 33 per cent chance of a recession. Minack also expects the Australian sharemarket to fall and further easing of monetary policy. Saul Eslake of Bank of America Merrill Lynch believes that the chance of a recession in 2015 or 2016 is less than 25 per cent

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BANK OF AMERICA AUSTRALIA LIMITEDMERRILL LYNCH (AUSTRALIA) PTY LTDJP MORGAN AUSTRALIA LIMITEDRESERVE BANK OF AUSTRALIAGOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

Planners could lose $270m a year

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Original article by Ruth LiewSally Rose
The Australian Financial Review – Page: 1 & 12 : 27-Mar-15

Data from DEXX&R shows that financial advisers received $A3.4bn of the $A4.1bn worth of commissions that Australian life insurance groups paid in 2014. Life insurance advisers have criticised a proposal to cap up-front commissions at $A1,200, arguing that it would no longer be financially viable to sell life insurance products. Association of Financial Advisers CEO Brad Fox adds that it would prompt many financial planners to retire and discourage others from entering the industry

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DEXX&RASSOCIATION OF FINANCIAL ADVISERS LIMITEDAUSTRALIAN PRUDENTIAL REGULATION AUTHORITYFINANCIAL SERVICES COUNCILAUSTRALIAN SECURITIES AND INVESTMENTS COMMISSIONGEM CAPITAL FINANCIAL ADVICESUNCORP GROUP LIMITED – ASX SUNSUNCORP LIFE AND SUPERANNUATION LIMITEDNATIONAL AUSTRALIA BANK LIMITED – ASX NABINDUSTRY SUPER AUSTRALIA PTY LTD

Court ruling hits foreign workers

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 3 : 27-Mar-15

The Federal Court of Australia ruled on 26 March 2015 that a 2014 decision by Assistant Immigration Minister Michaelia Cash was invalid. Cash introduced changes that made it easier to employ foreign workers on oil and gas platforms and drilling rigs. The ruling means that foreign workers employed in the offshore oil and gas industry will no longer be exempt from regular visa requirements

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FEDERAL COURT OF AUSTRALIAAUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTIONCHEVRON AUSTRALIA PTY LTDALLSEAS CONSTRUCTION CONTRACTORS SAMARITIME UNION OF AUSTRALIAAUSTRALIAN GREENS

Banks fear budget tax may hit depositors

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Original article by James Eyers
The Australian Financial Review – Page: 13 & 18 : 27-Mar-15

The financial system inquiry recommended abolishing a levy on bank deposits that the former Australian Labor Government introduced to finance a guarantee scheme for bank accounts. The Customer Owned Banking Association has urged the Federal Government to scrap the levy, while the Australian Bankers’ Association’s submission on the inquiry is expected to take the same stance. It is estimated that the levy could cost depositors about $A350m a year if it takes effect on 1 January 2016

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CUSTOMER OWNED BANKING ASSOCIATIONAUSTRALIAN BANKERS’ ASSOCIATIONAUSTRALIA. DEPT OF THE TREASURYAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINETINTERNATIONAL MONETARY FUNDCOUNCIL OF FINANCIAL REGULATORSRESERVE BANK OF AUSTRALIA

Stockland offers houses for $270,000

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 34 : 27-Mar-15

The Cloverton housing estate of Australian-listed property developer Stockland will include smaller lot sizes in order to make housing more affordable. Lots of 294sq m will be priced at $A129,000, compared with $A230,000 for lots that are 846sq m. The smaller lot sizes at the housing development in Melbourne will allow three-bedroom homes to be built for about $A270,000

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STOCKLAND – ASX SGPOLIVER HUME REAL ESTATE GROUP PTY LTDCORELOGIC AUSTRALIA PTY LTDRP DATA LIMITEDLEND LEASE GROUP LIMITED – ASX LLC