Author: roymorgansocial

Pilbara train drivers to strike

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Original article by Ewin Hannan
The Australian – Page: 4 : 21-Nov-23

BHP’s iron ore operations in Western Australia’s Pilbara region face disruption due to industrial action by train drivers from Friday. Almost 400 train drivers who are members of the Mining & Energy Union are set to impose bans on the use of BHP’s mobile rostering app, as part of the long-running negotiations for a new enterprise agreement. A BHP spokesman has stated that the company has put forward "a good and comprehensive offer" which recognises the important contribution that the rail team makes to its iron ore business. It will be the first protected industrial action in the Pilbara since 2008. Meanwhile, the MEU’s demerger from the CFMEU will formally take effect from 1 December.

CORPORATES
BHP GROUP LIMITED – ASX BHP, MINING AND ENERGY UNION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Fake website scams: Grim warning to Black Friday shoppers

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Original article by Chloe Whelan
Herald Sun – Page: Online : 21-Nov-23

Australian shoppers are expected to spend $6.36bn in the Black Friday sales, making it the biggest shopping event on the nation’s retail calendar. However, the Australian Competition & Consumer Commission’s deputy chair Catriona Lowe has warned shoppers to be aware of fake websites that replicate the genuine sites of well-known brands. The products sold on these sites are often fake or simply never arrive. Lowe adds that scammers are now paying for their fake websites to appear at the top of internet search results, so consumers may not be able to trust the first listing they see. Data from the National Anti-Scam Centre shows that there have been 2,760 reports of fake online stores so far in 2023.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NATIONAL ANTI-SCAM CENTRE

Virgin Australia, Toyota and Fortescue Metals are Most Trusted Brands in Key Industries for 2023

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Nov-23

Roy Morgan has presented the annual Roy Morgan Trusted Brand Awards for 2023 in the mining and petroleum, automotive, utilities, food and beverage, and travel and tourism industries. Fortescue Metals Group is the most trusted brand among a field of over 20 of the most prominent mining and petroleum companies; it was the sole entrant in the category to emerge with a positive net trust rating in the 12 months to June 2023. Toyota has topped the industry rankings as the most trusted brand in automotive since Roy Morgan began interviewing Australians about trust and distrust in 2018. The hotly contested utilities category has been won by Perth-based Synergy; it overtook Melbourne-based Red Energy, who were the ‘Most Trusted Utility Brand’ since Roy Morgan began surveying on trust and distrust five years ago. In the Food & Beverage category Cadbury has emerged as the most trusted brand for the second year ahead of more than 80 rival brands. Virgin Australia emerged as the only trusted brand in the Travel & Tourism sector for 2023, taking the title of ‘Most Trusted Travel & Tourism Brand’ from rival Qantas.

CORPORATES
ROY MORGAN LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, SYNERGY, RED ENERGY PTY LTD, CADBURY AUSTRALIA LIMITED, VIRGIN AUSTRALIA HOLDINGS LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN

Liberal 21.6% vote (up 4.4%) in Victoria’s Mulgrave State by-election is too low to indicate Victorians have changed their allegiance with Labor

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Original article by Gary Morgan, Michele Levine, Julian McCrann
Market Research Update – Page: Online : 21-Nov-23

The Victorian ALP won the State by-election in Mulgrave easily on the weekend after Liberal Party candidate Courtney Mann managed to gain only a 4.4% swing on primary votes compared to last year’s State Election result. In addition, independent candidate Ian Cook gained only a small primary vote swing of 0.9% while there were also gains for several other minor party and independent candidates. On a two-party preferred basis, the swing away from the ALP was only 4.6%. ALP candidate Eden Foster secured 56.2% of the two-party preferred vote compared to 43.8% for Independent candidate Ian Cook. A yet to be calculated preference distribution between the Liberal and ALP candidates is likely to show a similar result between the two major parties. (The Poll Bludger has estimated the two-party preferred result between the two major parties will be ALP: 56.5% cf. LIB 43.5% – a swing of only 3.7% to the Liberals). Although Liberal Leader John Pesutto claimed on the night that the result "sent Victorian Premier Jacinta Allan a strong message" in fact the result underlined how far in front the ALP Government is. History shows that by-elections generally provide a strong swing to the Opposition, and particularly when a popular local member – like former Premier Daniel Andrews – resigns and is replaced.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF VICTORIA

ESG investment pioneer calls for ban on labels

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Original article by Joanne Tran
The Australian Financial Review – Page: 29 : 21-Nov-23

Managed funds with an environmental, social and governance focus have attracted growing scrutiny from investors and regulators in 2023. Nanuk Asset Management’s chief investment officer Thomas King contends that criticism of ESG funds and issues such as their performance has validity. King also believes that the ESG label has been overused and it should be banned; he says the acronym is confusing and ESG scores are "distracting nonsense", and that plain language should be used to describe what managed funds are doing.

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NANUK ASSET MANAGEMENT PTY LTD

Rio Tinto pays $43m in Mozambique settlement

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 21-Nov-23

Rio Tinto has reached a settlement with the US Securities & Exchange Commission regarding impairment charges arising from the acquisition of Riversdale Mining in 2011. The $US28 million ($42.7 million) settlement means that Rio Tinto and former executives Tom Albanese and Guy Elliott will not face any fraud charges. Rio Tinto paid $US3.7bn for Riversdale, and subsequently found that the quality of the company’s coking coal in Mozambique was lower than anticipated. Rio Tinto announced writedowns associated with Riversdale in early 2013, but it had been alleged that it should have done so much earlier.

CORPORATES
RIO TINTO LIMITED – ASX RIO, RIVERSDALE MINING LIMITED, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION

Deeming vows to sue Liberal leader Pesutto for defamation after mediation fails

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Original article by Annika Smethurst
The Age – Page: Online : 21-Nov-23

Victorian MP Moira Deeming says the allegedly defamatory comments made by state Liberal leader John Pesutto have caused enormous harm to her family "personally, financially and reputationally". Deeming adds that she was left with no option but to pursue a defamation case against Pesutto after mediation talks broken down on Sunday. Deeming was suspended and subsequently expelled from the Liberal partyroom after she addressed a Let Women Speak rally that was gatecrashed by neo-Nazis. Pesutto has denied that he had compared Deeming to a Nazi sympathiser, and says he will vigorously defend the legal action. Deeming has in turn rejected suggestions that she is seeking $1m from Pesutto.

CORPORATES
LIBERAL PARTY OF VICTORIA

Roy Morgan Poll on Federal voting intention shows third straight weekly decline for the ALP Government: ALP 49.5% cf. L-NP 50.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Nov-23

The Coalition on 50.5% (up 0.5% from a week ago) now leads the ALP on 49.5% (down 0.5%) on a two-party preferred basis, according to the latest Roy Morgan Poll on Federal voting intention conducted over the last week. The result matches the low-point the Albanese Government reached immediately after the defeat of ‘The Voice’ referendum in mid-October and is the third straight week of declines for the Government. On primary vote the Coalition is now on 37.5%, up 1% from a week ago, and clearly ahead of the ALP on 29.5%, down 0.5%. The Greens are on 13.5%, up 0.5%, and One Nation is on 6.5%, up 0.5%. There has been a loss of support for both Independents on 7%, down 1% and Other Parties on 6%, down 0.5%. The latest Roy Morgan Poll is based on interviewing a representative cross-section of 1,401 Australian electors from November 13-19, 2023. For further details watch Roy Morgan’s weekly Market Research Update video presented by Roy Morgan CEO Michele Levine on Tuesday afternoon.

CORPORATES
ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Identity of third party that brought down Optus network revealed

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Original article by David Swan, Ben Grubb
The Age – Page: Online : 15-Nov-23

Optus recently disclosed that its recent network outage was caused by a software upgrade by an ‘international peering network’, but declined to name this third party. However, sources close to Optus have revealed that it was the telco’s own parent company, Singapore Telecommunications; the botched upgrade is said to have been made on the Singtel Internet Exchange, and subsequently cascaded through the Optus network. Optus CEO Kelly Bayer Rosmarin will appear before a Senate hearing into the outage on Friday.

CORPORATES
SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED

ANZ-Roy Morgan Consumer Confidence plunges 3.5pts to 74.3 – after the RBA raises interest rates to 12-year high of 4.35%

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Nov-23

ANZ-Roy Morgan Consumer Confidence fell 3.5pts to 74.3 in the week to 12 November. Consumer Confidence is at its lowest since mid-July 2023 and has spent a record 41 straight weeks below the mark of 85. Consumer Confidence is now 6.5pts below the same week a year ago (80.8), and it is now clearly below the 2023 weekly average of 78.0. Consumer Confidence was down in NSW, Victoria, Queensland and South Australia, but up slightly against the trend in Western Australia – essentially a reverse of last week. Now 20% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 54% (up 2ppts) say their families are ‘worse off’ financially. Only 7% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 40% (up 2ppts) expect ‘bad times’. Meanwhile, 18% (down 4ppts) of Australians say now is a ‘good time to buy’ major household items, while 55% (up 4ppts) say now is a ‘bad time to buy’.

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