Author: roymorgansocial

Southern Cross rejects ARN Media takeover

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Original article by Sophie Elsworth
The Australian – Page: 17 : 8-Mar-24

Southern Cross Media Group has formally rejected a takeover offer from ARN Media and Anchorage Capital Partners, contending that it undervalues the TV and radio stations group. However, chairman Rob Murray has indicated that Southern Cross would be open to a revised offer. He adds that the group’s radio stations and digital audio platforms are its key focus; it owns 99 radio stations across Australia, while ARN Media owns 58 radio stations.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, ARN MEDIA LIMITED – ASX A1N, ANCHORAGE CAPITAL PARTNERS PTY LTD

Australia’s LNG shipments slump for the first time in years

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Original article by Nick Toscano
Brisbane Times – Page: Online : 8-Mar-24

Figures from energy consultancy EnergyQuest show that Australian liquefied gas exports declined to 80.7 million tonnes in 2023, following a record-breaking year in 2022 when 81.2 million tonnes was shipped. It represents the first year-on-year decline since 2015, and with existing oil and gas fields drying up and limited investment in new fields, it is likely that Australia’s LNG production has peaked. Although Australia still earns tens of billions a year from LNG exports, its role as a key source of greenhouse gas emissions that scientists say need to be reduced in order to combat the worst impacts of global warming has seen the LNG industry become a major cause of environmental concern.

CORPORATES
ENERGYQUEST PTY LTD

States sign up for new competition agenda to lift wages

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Original article by Shane Wright
The Age – Page: Online : 8-Mar-24

NSW Treasurer Daniel Mookhey has hosted a meeting of federal, state and territory governments that has been as acting as a possible starting point for new competition reforms that will in turn lead to higher wages. Many economists believe that the recent decline in global and Australian productivity is partly due to a lack of competitive pressures, which force companies to look at new ways to lift output or better utilise their staff. One issue that the meeting looked at was the growing use of non-compete and no-poach clauses in workplace contracts or agreements, with recently released research from the Australian Bureau of Statistics finding that 47 per cent of businesses imposed at least one form of restraint clause on their workers.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Job losses and potentially dire impact on regional media from Meta’s news exit

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Original article by Calum Jaspan
The Age – Page: Online : 8-Mar-24

Australian Community Media executive chair Antony Catalano contends the decision by Meta to refuse to pay for Australian news content could have a "dire impact" on what is Australia’s largest regional newspaper publisher. Catalano said there would certainly be job losses at ACM if an alternative source of funds cannot be found, while he says he always felt as if Meta was not committed to the media content funding deals. Public Interest Journalism Initiative CEO Anna Draffin has suggested that tax reform could help make up the revenue gap resulting from Meta’s decision, suggesting it could take the form of a research and development-style rebate.

CORPORATES
AUSTRALIAN COMMUNITY MEDIA PTY LTD, META AUSTRALIA LIMITED, PUBLIC INTEREST JOURNALISM INITIATIVE

Tax take and spending near record highs

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Original article by Michael Read
The Australian Financial Review – Page: 6 : 8-Mar-24

Analysis of the latest national accounts data shows that federal, state and local government spending equated to 27.2 per cent of GDP in 2023, which is nearly a record high. Tax revenue across all three levels of government was also a near-record high of 30.3 per cent of GDP. Treasurer Jim Chalmers has indicated that his primary focus will shift from containing inflation to stimulating the economy. However, he has ruled out a big increase in government spending, while economists contend that reducing debt should be the federal government’s priority.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

Lending malaise as home loans retreat

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Original article by Megan Neil
The Australian – Page: 19 : 8-Mar-24

Data from the Australian Bureau of Statistics shows that the value of new housing loans fell by 3.9 per cent to $25.12bn in January; this followed a 4.1 per cent decline in December. The general consensus of economists had been for two per cent growth in home loans during January. The value of new owner-occupier loans fell by 4.6 per cent to $15.91bn, and lending to property investors was down 2.6 per cent to $9.21bn. Meanwhile, lending to first-home buyers was down 6.9 per cent, and the value of those loans fell by six per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Bunnings replaces Woolworths as Australia’s most trusted brand

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Mar-24

Bunnings has again been crowned Australia’s most trusted brand in the 12 months to December 2023, dethroning Woolworths. Bunnings lost its title as Australia’s most trusted brand to Woolworths in May 2020. However, Bunnings has shown a strong recovery since October 2022, achieving the largest improvement in trust among all trusted brands. Australians’ distrust in companies has grown in the last year, with reasons including corporate greed, poor customer service, unaffordable prices, dishonesty, unethical practices, and poor privacy practices. However, Bunnings has managed to buck the trend against an economic environment where trust has eroded. Meanwhile, Optus remains the most distrusted brand in Australia. It is followed by social media giant (and former and long-standing most distrusted brand) Facebook/Meta, embattled airline Qantas, private health insurer Medibank and media giant News Corp. All four have faced significant scandals in recent years.

CORPORATES
ROY MORGAN LIMITED, BUNNINGS GROUP LIMITED, WOOLWORTHS GROUP LIMITED – ASX WOW, SINGTEL OPTUS PTY LTD, META PLATFORMS INCORPORATED, FACEBOOK, QANTAS AIRWAYS LIMITED – ASX QAN, MEDIBANK PRIVATE LIMITED – ASX MPL, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

‘Murderous rampage’: Malaysian PM attacks Western leaders over hypocrisy on Israel, Ukraine

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Original article by Matthew Knott
The Sydney Morning Herald – Page: Online : 8-Mar-24

Malaysian Prime Minister Anwar Ibrahim has used a speech to the Australian National University to accuse Western nations of selectively applying international law. He said that they have been happy to condemn Russia over its invasion of Ukraine, but have been equally happy to remain silent over the ongoing bloodletting "of innocent men, women and children of Gaza; he also claimed that much of the West has been happy to allow the "Israeli occupation forces" carte blanche in the murderous rampage on the Palestinians" for more than 60 years.

CORPORATES
AUSTRALIAN NATIONAL UNIVERSITY

Super fund satisfaction improves since low in July 2023 with strong performances from HESTA, Unisuper & REST Super

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Original article by Roy Morgan
Market Research Update – Page: Online : 6-Mar-24

New data from Roy Morgan’s Superannuation Satisfaction Report shows that overall satisfaction with the financial performance of super funds was 66.7% in January 2024. This is an increase of 1.7% points since the low reached in July 2023 (65.0%). There has been improvement across the different categories of super funds since the middle of last year. A standout performer over the last six months has been Self-Managed Funds, which have increased their customer satisfaction by 2.4% points to 76.8%; this is the highest level of customer satisfaction for Self-Managed Funds since April 2022. Customer satisfaction for Industry Funds has also increased significantly on six months ago, up by 1.8% points to 68.6%. Overall customer satisfaction for Public Sector Funds is up by 0.9% points from six months ago to 72.1%. However, customer satisfaction with Retail Funds is up by only 0.4% points to 60%. The report’s findings are from Roy Morgan Single Source, Australia’s most trusted consumer survey, compiled by in-depth interviews with over 60,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED

Roy Morgan Retail Sales outlook for 2024

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Original article by By Roy Morgan’s Retail & Consumer Trends Expert Laura Demasi
Market Research Update – Page: Online : 6-Mar-24

Despite the intense cost-of-living pressures on households over 2023 the much-feared consumer spending ‘cliff’ did not come to pass, with retail sales steadied by record population growth, continued strong employment, and the dwindling remains of record household savings. With 2024 set to be another uncertain year, Roy Morgan unveils its retail sales forecast and steps through some of the factors that will shape how the year might unfold. Roy Morgan’s preliminary retail forecast for 2024 sees the year ending with retail sales still about 8.4% higher than the pre-pandemic trend; based on retail sales growing at the normal rate of 3.4% each year, which is the annual average growth rate from 2010-2023, excluding the much higher pandemic years (2020-22).

CORPORATES
ROY MORGAN LIMITED