Author: roymorgansocial

Secrecy of Bernard Collaery trial risked damaging public’s faith in administration of justice, court rules

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Original article by Sarah Basford Canales
The Guardian Australia – Page: Online : 10-Jan-24

The former Coalition government is under further scrutiny over the Bernard Collaery whistleblower case. The ACT has released details of a judgment in which it concluded that the Coalition’s decision to allow much of Collaery’s trial to remain behind closed doors had put too more emphasis on the issue of national security rather than the administration of justice. The court removed many of the secrecy provisions after deeming that "no risk to national security would materialise". Labor dropped the charges against Collaery several months after winning the 2022 election.

CORPORATES
COURT OF APPEAL (AUSTRALIAN CAPITAL TERRITORY), AUSTRALIAN LABOR PARTY

ANZ-Roy Morgan Consumer Confidence up 3pts to 84.8 to start 2024 with the traditional New Year bounce

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-Jan-24

ANZ-Roy Morgan Consumer Confidence rose 3pts to 84.8 in the first week of 2024, taking the index to its highest since early February 2023. Consumer Confidence started the year 8.4pts higher than a month ago and is now nearly 7pts above the 2023 weekly average of 78.0. However, Consumer Confidence has now spent a record 47 straight weeks below the mark of 85, and it is 2.6pts lower than the same week a year ago (87.4). Now 19% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 52% (up 1ppt) say their families are ‘worse off’. Looking forward, 34% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year (the equal highest figure for this indicator since January 2023), while 32% (down 1ppt) expect to be ‘worse off’ (the lowest figure for this indicator since January 2023). Only 11% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since May 2022), while 32% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since January 2023). Meanwhile, 25% (up 4ppts) of Australians say now is a ‘good time to buy’ major household items (the highest figure for this indicator since January 2023), while 46% (down 5ppts) say now is a ‘bad time to buy’ (the lowest figure for this indicator since January 2023).

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Coalition MPs snub 2035 target

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Original article by Rosie Lewis
The Australian – Page: 1 & 4 : 10-Jan-24

The Paris Agreement requires the federal government to finalise a 2035 emissions reduction target by February 2025. Prime Minister Anthony Albanese is under pressure to adopt a 2035 target of at least 70 per cent, and Climate Change Minister Chris Bowen has previously stated that the government’s 2035 target will be announced "in due course". Meanwhile, a number of Liberal and National MPs have cautioned Opposition leader Peter Dutton against taking an emissions reduction target to voters at the next election. Amongst other things, they are concerned that it would exacerbate the cost-of-living crisis, particularly for people in regional areas.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Emerson to keep supermarkets in check

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Original article by Joe Kelly
The Australian – Page: 3 : 10-Jan-24

The federal government has appointed former Labor trade minister Craig Emerson to head a review of the food and grocery code of conduct. The government will consider a range of options to ensure that businesses are passing on lower costs to consumers, and Prime Minister Anthony Albanese says supermarkets have a duty to ensure that they are providing affordable options for all Australians. Agriculture Minister Murray Watt says major retailers do not have to wait until the review is ­completed to lower their prices.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE, FISHERIES AND FORESTRY

Refinery closure to wipe out 1000 jobs

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Original article by Paul Garvey
The Australian – Page: 2 : 10-Jan-24

US-based Alcoa has confirmed that its Kwinana alumina refinery in Western Australia will be closed. Its workforce will be reduced to about 50 by the September 2025 quarter, compared with about 800 employees and 300 contractors at present. WA’s state development minister David Honey says the plant’s closure is unnecessary; he contends that the state government’s failure to issue Alcoa with new bauxite mining approvals and the federal government’s emissions reduction target are to blame. However, federal Resources Minister Madeleine King attributes the closure to factors beyond the government’s control, such as the plant’s age and declining bauxite grades at Alcoa’s mine.

CORPORATES
ALCOA INCORPORATED, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

Corporate fans boost ticket sales for Open

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Original article by Ayesha de Kretser
The Australian Financial Review – Page: 8 : 10-Jan-24

The organisers of the Australian Open are hoping for another record attendance at the first grand slam tournament of the year, after the 2023 event attracted a total crowd of 839,192. Tennis Australia’s chief commercial officer Cedric Cornelis says that ticket sales to date have been significantly stronger than in 2023. Meanwhile, Corporate Traveller’s MD Tom Walley notes a post-pandemic trend for business travellers to combine their trip with leisure activities such as attending sports events, in order to justify the cost of travel. The company expects the number of business travellers attending the Australian Open to be 21 per cent higher than in 2023.

CORPORATES
AUSTRALIAN OPEN TENNIS, TENNIS AUSTRALIA, CORPORATE TRAVELLER

Nickel miners brace for job losses after Panoramic ends production

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Original article by Brad Thompson
The Australian Financial Review – Page: 15 : 10-Jan-24

About 300 workers at Panoramic Resources’ Savannah nickel mine in Western Australia are expected to lose their jobs after the company’s administrators moved to suspend production at the site. FTI Consulting was appointed to the role in mid-December, with the aim of keeping Savannah open, but the price of nickel has continued to fall. Panoramic reopened the Savannah mine in the Kimberley region in 2021, but factors such as a sharp fall in the nickel price in 2023 weighed on the company. There are fears of further job losses in Australia’s nickel sector, amid expectations of a global oversupply in 2024; Indonesia in particular intends to ramp up nickel production via Chinese investment in the sector.

CORPORATES
PANORAMIC RESOURCES LIMITED – ASX PAN, FTI CONSULTING PTY LTD

Fall in detached housing approvals puts Labor’s 1.2 million target at risk: economists

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Original article by Olivia Ireland
The Age – Page: Online : 10-Jan-24

Data from the Australian Bureau of Statistics shows that dwelling approvals rose by 1.6 per cent to 14,529 in November. However, building approvals for detached houses fell 1.7 per cent month-on-month, to 8,506. The Housing Industry Association’s chief economist Tim Reardon expects approvals for detached homes to keep falling during the first half of 2024; he adds that this will make it hard to achieve the federal government’s revised target of building 1.2 million new homes over five years. This equates to 240,000 per year, but Master Builders Australia expects about 170,000 new home to be built in 2023-24.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, HOUSING INDUSTRY ASSOCIATION LIMITED, MASTER BUILDERS AUSTRALIA INCORPORATED

Dutton pushes stronger stance on hate speech

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Original article by Alexi Demetriadi
The Australian – Page: 3 : 9-Jan-24

Opposition leader Peter Dutton has urged the federal government to strengthen the nation’s laws on hate speech, stating that the Coalition would fully support any such move. Dutton adds that the government should pay the Executive Council of Australian Jewry’s legal costs if it goes ahead with legal action against Muslim clerics who have racially vilified Jewish people in sermons. Former ECAJ president and Holocaust survivor Nina Bassat says the existing legislation is not working; she adds that if hate speech is not prosecuted it becomes normalised and people start to think they can get away with it.

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LIBERAL PARTY OF AUSTRALIA, EXECUTIVE COUNCIL OF AUSTRALIAN JEWRY

ALP holding us back: miners

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Original article by Joe Kelly
The Australian – Page: 1 & 2 : 9-Jan-24

Minerals Council of Australia CEO Tania Constable says the federal government is "taking the resources sector for granted" and its policy settings are aimed at making the industry anti-competitive. She has called for major government support for the resources sector to ensure that Australia continues to be attractive to investors. Constable adds that the government needs to support the sector as a whole, rather than focusing on critical minerals. Analysis shows that 72 coal, iron ore and oil and gas projects have been shelved, delayed or failed to progress in the last 12 months.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA