Author: roymorgansocial

Packer doesn’t want to share his Crown

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Original article by Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 9-Feb-15

The Federal Court will be asked to rule on the right to use the Crown brand and logo in a trademark dispute between James Packer and property developer Iwan Sunito. Packer’s Crown Resorts is seeking to have Crown Group Holdings barred from using trademarks such as Crown Apartments, Crown Towers and Crown Resort in marketing its apartment projects. The listed group is undertaking its own apartment project as part of the Crown Sydney hotel and casino development

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CROWN GROUP HOLDINGS PTY LTD, FEDERAL COURT OF AUSTRALIA, CROWN MELBOURNE LIMITED, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CITY OF SYDNEY, SYDNEY CHRISTIAN WORSHIP CENTRE

Dairy float call for Van Diemen’s Land

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 18 : 9-Feb-15

Tasmanian Land Company recently launched a takeover bid for Van Diemen’s Land Company (VDL), with the offer pitched at $A2 per share. However, Wilson HTM stockbroker Hugh Robertson believes that the milk producer should be listed on the Australian sharemarket, and says he recently approached VDL with his proposal for an IPO. VDL has a portfolio of 25 dairy farms and a 26,000-strong herd of dairy cows

CORPORATES
VAN DIEMEN’S LAND COMPANY, TASMANIAN LAND COMPANY, WILSON HTM INVESTMENT GROUP LIMITED – ASX WIG, BDO AGRICULTURAL SERVICES, BDO AUSTRALIA LIMITED, NEW PLYMOUTH DISTRICT COUNCIL, TASMAN FARMS PTY LTD, TARANAKI INVESTMENT MANAGEMENT LIMITED, CHINA INVESTMENT CORPORATION

BHP: Eagle Ford can weather costs storms

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Original article by John Kehoe
The Australian Financial Review – Page: 18 : 9-Feb-15

BHP Billiton’s operations in the Eagle Ford region of Texas boast around 2,000 employees and contractors. The group recently revealed plans to shut down 10 of its onshore oil and gas rigs in the US, although this will only affect two of its Eagle Ford rigs. BHP’s David Banks says the group is now one of the fastest and lowest-cost oil drillers in the region, and it aims to become the fastest. Some of its oil wells are now being drilled in less than 10 days

CORPORATES
BHP BILLITON LIMITED – ASX BHP, EOG RESOURCES, AUSTRALIAN AMERICAN CHAMBER OF COMMERCE, BAKER AND HUGHES

Woodside urges end to Sunrise deadlock

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 9-Feb-15

Rui Araujo is widely tipped to succeed outgoing East Timor Prime Minister Xanana Gusmao. Deakin University’s Damien Kingsbury says Araujo might be more amenable to negotiations regarding the Sunrise gas field in the Timor Sea, which has been the subject of a maritime boundary dispute between Australia and East Timor. Woodside Petroleum wants the impasse to be resolved so it can move forward with its $US13bn ($A17bn) Sunrise gas project

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, DEAKIN UNIVERSITY, EAST TIMOR. OFFICE OF THE PRIME MINISTER, FRETILIN, AUSTRALIA. NATIONAL SECURITY COMMITTEE, ROYAL DUTCH SHELL PLC, CONOCOPHILLIPS, INTERNATIONAL COURT OF JUSTICE, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE

Whitford in bid to stop break-up of Vocation

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Original article by Simon Evans
The Australian Financial Review – Page: 13 & 18 : 9-Feb-15

A number of potential buyers have expressed interest in buying assets from the embattled Vocation Limited. Korda Mentha’s 333 Capital division has commenced the process of selling Vocation’s assets. However, 15 per cent stakeholder and co-founder Brett Whitford proposes to recapitalise the education provider and retain its sharemarket listing rather than divest its assets. Vocation shares remain in a trading halt

CORPORATES
VOCATION LIMITED – ASX VET, KORDA MENTHA AND COLLEAGUES PTY LTD, 333 CAPITAL PTY LTD, EVOCCA COLLEGE, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, VICTORIA. DEPT OF EDUCATION AND EARLY CHILDHOOD DEVELOPMENT, BAWM GROUP PTY LTD, ASPIN PTY LTD, DUET GROUP – ASX DUE, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC

Australian unemployment down in January to 9.8% as full-time employment increases to new record high despite shrinking workforce

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 6-Feb-15

A Roy Morgan survey on Australia’s unemployment and under-employed shows that the real unemployment rate fell to 9.8 per cent in January 2015. This compares with an official unemployment rate of 6.1 per cent in December 2014. The total workforce has fallen by 127,000 to 12,627,000 since January 2014, and the number of Australians who are under-employed has fallen by 72,000 to 1,033,000 in the last 12 months. Roy Morgan Research executive chairman Gary Morgan notes that more than 2.27 million Australians are either unemployed or under-employed, and the Federal Government must look seriously at industrial relations reform

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Insurers to weather revenue resistance

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Original article by Ruth Liew
The Australian Financial Review – Page: 16 : 9-Feb-15

Jan van der Schalk of CLSA forecasts that Insurance Australia Group will post a 2014-15 interim cash net profit of $A591m. This compares with $A642m previously. Meanwhile, CLSA forecasts that QBE Insurance Group’s cash net profit for calendar 2014 will be $US933m ($A1.2bn). Australian insurers have benefited from cost-cutting and rising premiums in recent years

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, QBE INSURANCE GROUP LIMITED – ASX QBE, CLSA AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, AMP LIMITED – ASX AMP, SUNCORP GROUP LIMITED – ASX SUN, WESFARMERS LIMITED – ASX WES, CITIGROUP PTY LTD

NSW OSR takes action to wind up Jets over unpaid debts

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Original article by Donna Page, Brett Keeble, James Gardiner
The Sydney Morning Herald – Page: 38 : 6-Feb-15

Businessman Nathan Tinkler recently stated that the Newcastle Jets soccer team’s debts will be repaid in full. However, the New South Wales Office of State Revenue has made an application to the Supreme Court to have Newcastle Jets Football Operations wound up due to an outstanding debt, which is believed to concern payroll taxes. The Jets have won only one match in the 2014-15 season

CORPORATES
NEWCASTLE UNITED SPORTS CLUB LIMITED, NEWCASTLE JETS FOOTBALL OPERATIONS PTY LTD, NEW SOUTH WALES. OFFICE OF FINANCE AND SERVICES. OFFICE OF STATE REVENUE, FOOTBALL FEDERATION AUSTRALIA LIMITED, BRISBANE ROAR FOOTBALL CLUB PTY LTD, SUPREME COURT OF NEW SOUTH WALES

Cuts, tax hikes critical to AAA rating

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 6-Feb-15

Australian Treasurer Joe Hockey said on 5 February 2015 that there is "no easy path" to a Budget surplus. The Federal Government seems to have given up aiming for large savings in the May 2015 Budget. Ratings agencies contend that for Australia to preserve its "AAA" credit rating in the long term, the Government must raise taxes or reduce spending. Andrew Colquhoun of Fitch Ratings notes that New Zealand’s Budget was revised without the political turmoil seen in Australia

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, FITCH RATINGS LIMITED, FITCH AUSTRALIA PTY LTD, MOODY’S ANALYTICS AUSTRALIA PTY LTD

Special payout boosts Tabcorp

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Original article by Andrew White
The Australian – Page: 21 : 6-Feb-15

Gaming group Tabcorp has announced a 2014-15 interim net profit increase of 64.1% to $A122.4m. Excluding abnormals the rise was 21.8% to $A90.9m, and revenue also grew 6.7% to reach $A1.12bn. The six-month distribution is $A0.10, up from $A0.08. CEO David Attenborough said the Australian-listed company would stage a pro-rata accelerated renounceable entitlement offer at an issue price of $A3.70, compared with the most recent on-market value of $A4.71. The proceeds will be partly used to fund a special distribution worth $A0.30 a share

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, ARGO INVESTMENTS LIMITED – ASX ARG, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, UBS HOLDINGS PTY LTD