Author: roymorgansocial

Business backs Lowe on productivity

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 19-Jul-23

Australian Industry Group CEO Innes Willox is amongst the business leaders who have expressed support for comments made by Reserve Bank governor Philip Lowe regarding productivity. Lowe told the G20 meeting on Monday that low productivity worldwide is a bigger challenge than inflation, and that there is no political will to implement measures to address the problem. Willox says there has been a lack of real policy focus on productivity agenda for more than 15 years. Business Council of Australia CEO Jennifer Westacott in turn contends that industrial relations policy right is the key to addressing the nation’s productivity challenge.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, RESERVE BANK OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA

Rate hikes may cost even more jobs: RBA

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Original article by Patrick Commins
The Australian – Page: 2 : 19-Jul-23

The minutes of the Reserve Bank of Australia’s board meeting for July show that it considered a 25 basis point increase in the cash rate. The board also discussed the possibility that growing pressure on households’ budgets could result in consumption slowing more sharply than the current forecasts suggest. This would in turn result in slower demand for labour, while the unemployment rate would most likely rise beyond the rate required to ensure that inflation returns to the target range of 2-3 in a timely manner. National Australia Bank’s senior economist Adam Boynton expects interest rates to remain on hold, although he says a rate rise in August is still a possibility.

CORPORATES
RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Andrews blindside puts Commonwealth Games broadcast deal on ice

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Original article by Calum Jaspan
The Age – Page: Online : 19-Jul-23

The Seven Network was the official broadcaster of the Commonwealth Games in 2018 and 2022, and it has first-refusal rights to the next two Games. Sources have indicated that Seven had been close to finalising a new broadcasting rights deal, but the negotiations have been put on hold due to uncertainty about the 2026 Games following the Victorian government’s decision to terminate its contract. The source has indicated that the 2026 Games will have significantly less appeal for Seven if they are held in a different timezone.

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SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM

ANZ-Roy Morgan Consumer Confidence down 0.7pts to 72.6 – third straight week of declines

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jul-23

ANZ-Roy Morgan Consumer Confidence fell 0.7pts to 72.6 in the week to 16 July. Consumer Confidence has now spent 20 straight weeks below the mark of 80, the longest stretch below 80 since the index began being conducted on a weekly rather than a monthly basis in October 2008. Consumer Confidence is now 9.2pts below the same week a year ago (81.8), and 5.8pts below the 2023 weekly average of 78.4. Consumer Confidence was down in New South Wales and Victoria, but up slightly Queensland, WA and SA. Now only 17% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 57% (up 4ppts) say their families are ‘worse off’ financially (a new record high for this indicator in 50 years of interviewing). Some 28% (up 1ppt) of Australians now expect their family to be ‘better off’ financially this time next year, while 40% (up 1ppt) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 42% (down 1ppt) expect ‘bad times’. Meanwhile, 18% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 57% (up 1ppt) say now is a ‘bad time to buy’.

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

Iron ore giant Fortescue Metals targeted by Russian ransomware group

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Original article by
The Guardian Australia – Page: Online : 19-Jul-23

Fortescue Metals Group has confirmed that a small amount of non-confidential data was stolen in a cyber-attack in late May. The iron ore miner has advised that it had informed the Australian Cyber Security Centre of the "low-impact cyber incident", and that it has completed an internal investigation and taken remediation action. Russian ransomware group C10pm has claimed that it was responsible for the Fortescue cyber attack, and it is believed to have hacked more than 100 companies worldwide.

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FORTESCUE METALS GROUP LIMITED – ASX FMG

Taxpayers on hook for big bill as Commonwealth Games axed

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Original article by Annika Smethurst, Rachel Eddie, Broede Carmody, Michael Gleeson
The Age – Page: Online : 19-Jul-23

The Victorian government has not disclosed the likely cost of triggering the cancellation clause in its contract to host the 2026 Commonwealth Games. However, legal advice provided to the Queensland government in 2012 about the potential axing of the 2018 Gold Coast Games suggested that the state would be liable to pay for the cost of staging the Commonwealth Games in another city; the state Labor party estimated at the time that this could cost around $1bn. The Victorian government still intends to spend some $2 billion on Games-related infrastructure in regional towns that were to have hosted events. Meanwhile, Commonwealth Games Australia CEO Craig Phillips has questioned the government’s estimate that the cost of hosting the Games has blown out from just $2.6bn to at least $6.2bn.

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COMMONWEALTH GAMES AUSTRALIA

Women drive rapid increase in cinema attendance over the last year – even before the release of Barbie

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jul-23

New research from Roy Morgan shows that over 11.6 million Australians aged 14+ visited a cinema in the year to March 2023, up by over 2.7 million (+11%) on a year earlier when there were still many pandemic-era restrictions. More than 6.1 million women attended the cinema in the last year, an increase of over 1.7 million (+39%) on a year earlier. There has also been a large increase for men, up more than 1 million (+23%) to 5.5 million. Meanwhile, more than 3.4 million members of Generation Z attended the cinema in the last year, up almost 600,000 (+21%) from a year earlier. Close behind are Millennials of whom just over 3.1 million attended the cinema in the last year, up more than 650,000 (+27%). The older generations also comprise sizeable cinema audiences, with 2.4 million in Generation X and 1.9 million Baby Boomers attending the cinema in the last year. Looking in detail at who is driving the increase in cinema attendance across the population, we can see that high-value premium consumers are more likely to go to the cinema than anyone else.

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ROY MORGAN LIMITED

Walking, swimming and gym training are the most popular sports and activities Australians do regularly

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jul-23

The latest National Sports Participation report from Roy Morgan shows that 53.9% of Australians aged 14+ regularly go walking for exercise. This is a significant increase of 5.4ppts, or around 1.6 million participants, since 2019. Going to the gym/weight training is Australia’s second most popular sporting activity, with 4 million Australian adults regularly participating. Jogging is the third most popular activity, with almost 2.3 million Australians aged 14+ regularly participating, ahead of swimming on 1.7 million, yoga on 1.3 million, hiking/bushwalking on almost 1.2 million and cycling on 1.15 million. Meanwhile, young Australians are far more involved in sports, with over two-fifths of kids aged six to 13 swimming (41.6% – 1.1 million) and around a third playing soccer (33.4% – 907,000).

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ROY MORGAN LIMITED

Trust and Distrust in the Not-for-Profit Sector

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jul-23

Join Roy Morgan CEO Michele Levine to discover how trusted the not-for-profit sector is, whether high-net-worth donors are more trusted than other Australians in relation to this sector, which Australians are most likely to donate to charities, and what the not-for-profit industry can do to become more trusted. Michele will unpack these insights from more than 100,000 respondents.

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ROY MORGAN LIMITED

Trust and Distrust in the Real Estate Industry

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jul-23

Join Roy Morgan CEO Michele Levine to discover how trusted or distrusted the real estate sector is, where real estate agents are ranked, what is driving trust and distrust in the real estate sector, and what the real estate industry can do to become more trusted. Michele will unpack these insights from more than 100,000 respondents.

CORPORATES
ROY MORGAN LIMITED