Author: roymorgansocial

Right to disconnect? We’re already doing it, say bosses

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Original article by Gus McCubbing
The Australian Financial Review – Page: 2 : 20-Feb-24

The federal government’s move to enshrine an employee’s ‘right to disconnect’ in workplace laws continues to attract scrutiny. Australian Human Resources Institute CEO Sarah McCann-Bartlett says these provisions of the Closing Loopholes Bill No. 2 have increased employers’ concerns about the pace and extent of the government’s workplace reforms. Research undertaken by the AHRI in October found that 40 per cent of respondents’ organisations already have a ‘right to disconnect’ policy, while nearly 90 per cent said the policy is successful.

CORPORATES
AUSTRALIAN HUMAN RESOURCES INSTITUTE

Star facing second Bell probe into Sydney licence

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Original article by Glen Norris
The Australian – Page: 13 & 16 : 20-Feb-24

The NSW Independent Casino Commission has appointed Adam Bell SC to conduct a second inquiry into the Star Entertainment Group’s suitability to operate its Sydney casino. Nicholas Weeks has been running the casino as an independent manager since October 2022, after Bell’s first inquiry into Star found it had set up an "inherently deceptive and unethical process". Weeks’s appointment was extended for a second time in December 2023, and NICC chief commissioner Philip Crawford says that was because it was not satisfied Star was "progressing its remediation in a timely fashion". Bell’s second inquiry is due to run for 15 weeks, with his final report to be handed to the NICC by 31 May.

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THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, NEW SOUTH WALES. INDEPENDENT CASINO COMMISSION

Spend more on Defence now, PM told

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Original article by Cameron Stewart
The Australian – Page: 1 & 2 : 20-Feb-24

The review of the Australian navy’s surface fleet is expected to recommend acquiring a fleet of warships that are smaller and more heavily armed than the Hunter-class frigates. However, naval expert Jennifer Parker says this will require allocating additional spending on defence in the federal government’s budget in May. She adds that scaling back the Hunter-class program will not in itself generate sufficient cost savings to finance a new fleet of warships. The findings of the review that was undertaken by retired US admiral William Hilarides will be released today.

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ROYAL AUSTRALIAN NAVY

US inflation and China woes reduce super growth to 1pc

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Original article by Hannah Wootton
The Australian Financial Review – Page: 7 : 20-Feb-24

Data from Chant West shows that the median growth superannuation fund posted a return of just one per cent in January. This compares with 2.7 per cent growth in December and a three per cent gain in January 2023. Mano Mohankumar of Chant West notes that a strong performance by Australian and international shares in January was offset by mixed results in emerging and bond markets. He adds that a rise in the US inflation rate and concerns about China’s economic outlook weighed on returns late in the month. The median growth fund gained 7.7 per cent in the year to 31 January, and 7.2 per cent over the last decade.

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD

Telstra installs robot helpers across stores, call centres in push towards AI-fuelled future

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Original article by Matthew Elmas
The New Daily – Page: Online : 20-Feb-24

Telstra has started to deploy an artificial intelligence tool called Ask Telstra to assist staff in handling customers’ complaints. Ask Telstra is powered by Microsoft Azure OpenAI, and is intended to be an internal search engine that will allow employees in the telco’s stores and call centres to access customers’ data quickly when they make a complaint or seek assistance. Professor Gary Mortimer from the Queensland University of Technology believes that unscripted, synthetic and natural AI voice interactions will eventually become the norm for retailers.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, QUEENSLAND UNIVERSITY OF TECHNOLOGY

Bendigo cool on ANZ plan

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Original article by Lucas Baird
The Australian Financial Review – Page: 18 : 20-Feb-24

The Australian Competition Tribunal’s decision on the ANZ Bank’s bid to acquire Suncorp Group’s banking arm will be announced today. The Australian Competition & Consumer Commission blocked the deal in 2023. Bendigo & Adelaide Bank MD Marnie Baker says the ANZ-Suncorp deal is "not a good transaction for competition or consumers", although she has declined to state whether Bendigo will make an offer for Suncorp Bank if the ANZ deal is rejected. Meanwhile, Bendigo has posted a 2023-24 interim cash profit of $268.2m, which is five per cent lower than previously.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SUNCORP BANK, SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIA. COMPETITION TRIBUNAL, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

ALP maintains an election winning lead in mid-February as parties set to contest Dunkley by-election: ALP 52.5% cf. L-NP 47.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Feb-24

Support for the Labor government (52.5%) is in an election-winning position ahead of the L-NP (47.5%) on a two-party preferred basis, according to the latest Roy Morgan survey on Federal voting intention. The result is a slight improvement on the 2022 Federal Election (ALP 52.1% cf. 47.9%) and augurs well for the ALP, which faces the Dunkley by-election in Victoria on the first weekend in March. If a Federal Election were held now the Albanese government would be returned with a narrow majority. There was little movement on primary votes this week, with the Coalition’s primary support unchanged at 37% while ALP support was down marginally by 0.5% to 34%. The Greens were up 1% to 13%, One Nation dropped 0.5% to 4% and support for Independents & Other Parties was unchanged at 12%. The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,706 Australian electors from February 12-18. Further details will be released in Roy Morgan’s weekly video update presented by CEO Michele Levine.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

House prices could jump 5pc: McGrath

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Original article by Campbell Kwan
The Australian Financial Review – Page: 31 & 34 : 20-Feb-24

Real estate group McGrath Limited has posted a 2023-24 interim statutory profit of $7.5m and underlying EBITDA of $4.8m. Meanwhile, CEO John McGrath says the prospect of interest rate cuts later in 2024 may boost prices at the lower end of Australia’s housing market by up to five per cent. He adds that interest rate rises have seen house prices in this segment of the market fall by around five per cent over the last 12 months. However, McGrath says prospective buyers of homes priced below $1m are likely to remain cautious about returning to the property market until interest rate cuts actually occur.

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McGRATH LIMITED – ASX MEA

Greens are targeting tax breaks for investors to make buying a home affordable for renters, Max Chandler-Mather says

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Original article by Paul Karp
The Guardian Australia – Page: Online : 16-Feb-24

The Greens are hoping to use their balance of power in the Senate to get the federal government to cut back on tax breaks for property investors in return for them supporting its Help to Buy shared equity scheme. The Greens are hoping their policies will reduce house prices and therefore make buying a home more affordable for renters. Greens housing spokesperson Max Chandler-Mather contends that the problem with Australia’s housing market is that the tax system essentially forces prices up, often far in excess of wage increases.

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AUSTRALIAN GREENS

Network 10 to axe local jobs in global Paramount redundancies

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Original article by Calum Jaspan
The Age – Page: Online : 16-Feb-24

US media group Paramount Global has confirmed that the Ten Network will be impacted by its move to cut 800 jobs across its operations. Ten’s staff were advised on Thursday that those who will be affected by the downsizing would be informed by the end of the day. However, a local source within Paramount has indicated that the impact of the job cuts on its operations in Australia will be minimal. The restructuring has coincided with Paramount’s recent discussions regarding potential mergers.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, PARAMOUNT GLOBAL