Author: roymorgansocial

St Barbara owners back Genesis deal

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Original article by Elouise Fowler, Tom Rabe
The Australian Financial Review – Page: 15 : 21-Jun-23

Some 77.15 per cent of St Barbara’s shareholders have voted in favour of a deal to sell the Gwalia gold mine to Genesis Minerals. St Barbara chairman Kerry Gleeson says the company aims to complete the transaction by 30 June. The deal will provide St Barbara with a much-needed cash injection and leave the company with just its gold assets in Canada and Papua New Guinea. St Barbara had rejected a higher offer for the Gwalia mine from Silver Lake Resources, contending that engaging with the rival bidder could potentially have resulted in a breach of its debt covenants.

CORPORATES
ST BARBARA LIMITED – ASX SBM, GENESIS MINERALS LIMITED – ASX GMD, SILVER LAKE RESOURCES LIMITED – ASX SLR

Over half a million Australians plan to buy a new electric vehicle in the next four years

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

New data from Roy Morgan shows that 548,000 Australians plan on buying an electric vehicle in the next four years. This is equal to 12.5% of all those intending to purchase a new vehicle in this period, and an increase of over 1,230% compared with four years ago. The latest figures show that 61% of those planning to buy an electric vehicle are men, while 39% are women; however, this is a vast change from 2020 when the split was 76% men cf. 24% women. Meanwhile, intention to buy an electric vehicle has more than doubled across all age groups, and more than tripled for all age groups aged 35+. Now 51% of intending electric vehicle buyers are aged 50+ (up 4% points since 2020). The fastest growth in intention to purchase has been for Australians aged 65+, increasing more than threefold (340%) in only two years.

CORPORATES
ROY MORGAN LIMITED

Are Media announces expanded partnership with Roy Morgan for social media insights

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

Are Media has expanded its partnership with Roy Morgan to gather worldwide audience insights from its extensive social media channels that are currently not available anywhere else. Under the partnership, Are Media’s social media audiences across Instagram, Facebook and other social platforms will be included in Roy Morgan’s official Single Source database. Single Source is the world’s most extensive market research database, providing consistent and accurate consumer and market profiles. In securing the deal, Are Media will be the only Australian media partner to offer comprehensive audience insights into its social channels, giving advertisers a more accurate profile of its social audience, to deliver commercially driven social campaigns that engage the right audience. According to SMI data, advertising spend on social media remains the fastest growing digital sector, up 14.7 per cent in 2022.

CORPORATES
ROY MORGAN LIMITED, ARE MEDIA PTY LTD

Bendigo Bank home loan customers are the most satisfied with their bank after a year of interest rate rises

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

New financial data from Roy Morgan’s Single Source shows that Bendigo Bank has topped the latest banking customer satisfaction ratings among home loan customers. Bendigo Bank’s customer satisfaction rating has increased from 86.2% in May 2022 to 91.0% in May 2023. Close behind in second place is ING with customer satisfaction among home loan customers at 88.3%, up 0.2% points from a year ago. The latest data covers the six months to May 2023, and overall home loan customer satisfaction amongst Australia’s top 12 banks collectively was at 75.5% during this period. This represents a decrease of 1.6% points from the six months to May 2022, just as the current record-setting interest rate increasing cycle got under way. Meanwhile, NAB now has the highest home loan customer satisfaction among the big four banks, with a rating of 75.6%. Average home loan customer satisfaction with the big four banks as a group was 73.7%. These latest banking satisfaction ratings come from the Roy Morgan Single Source survey, derived from in-depth interviews with over 60,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED, BENDIGO BANK, ING BANK (AUSTRALIA) LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Global report: Australia must lift its game

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Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 21-Jun-23

Australia has ranked 19th out of 64 countries in the latest edition of the World Competitiveness Yearbook report, which is compiled by the International Institute for Management Development. Australia ranks third on life expectancy and health coverage, but it is now in 62nd place in terms of entrepreneurship and 46th with regard to productivity. World Competitiveness Centre director Arturo Bris contends that while resources-rich countries such as Australia tend to be more productive, they can learn a lot from countries such as Switzerland and Singapore, which lack natural resources but have built highly productive economic models.

CORPORATES
INTERNATIONAL INSTITUTE FOR MANAGEMENT DEVELOPMENT, WORLD COMPETITIVE CENTRE

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 72.4 – lowest Consumer Confidence Rating since April 4/5, 2020

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

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 72.4 (down 0.3 points) in the week to 18 June. Consumer Confidence has now spent 16 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 9.3pts below the same week a year ago (81.7), and 6.8pts below the 2023 weekly average of 79.2. Consumer Confidence was up in Victoria, WA and SA, but down in NSW and Queensland. Now only 15% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year (a new record low for this indicator), while 56% (unchanged) say their families are ‘worse off’ financially (an equal record high for this indicator). Some 27% (down 1ppt) of Australians now expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator since April 2020), while 39% (down 1ppt) expect to be ‘worse off’ financially. Only 5% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the lowest figure for this indicator since August 2020), while 44% (up 1ppt) expect ‘bad times’. Meanwhile, 20% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 53% (down 4ppts) say now is a ‘bad time to buy’.

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

Industry chiefs lash critical minerals plan

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Original article by Nick Evans
The Australian – Page: 16 : 21-Jun-23

Mineral Resources MD Chris Ellison has described the federal government’s critical minerals strategy as "empty rhetoric" and a "missed opportunity" to attract international investment in the commodities that will be essential to the energy transition. He contends that measures such as tax incentives, fast-tracked approvals and financial assistance are needed if the government is serious about competing with countries such as the US and its ­Inflation Reduction Act. Resources Minister Madeleine King says the critical minerals strategy is aimed at setting out a framework to allow the government to give targeted support to industry in the future.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

Business to target Burke in IR battle

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 21-Jun-23

Workplace Relations Minister Tony Burke has criticised an advertising campaign opposing the federal government’s proposed ‘same job, same pay’ law for labour hire workers. He says the advertisements’ claim that inexperienced labour hire worker would have to be paid the same as an experienced, full-time employee is false. However, the employers’ groups that are funding the campaign will persist with it; they intend to target Burke’s electorate of Watson in particular, via mobile and fixed billboard ads. Prime Minister Anthony Albanese recently stated that the labour hire reforms would be "limited and targeted".

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

RBA admits it underpaid staff $1.15m

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Original article by Michael Read
The Australian Financial Review – Page: 4 : 15-Jun-23

PwC has completed its review of wage underpayments at the Reserve Bank of Australia. The review was commissioned after the central bank apologised to affected staff. PwC has found that 1,173 current and former RBA employees had been underpaid a total of $1.15 million, excluding interest. The RBA’s head of human resources Karlee Hughes has indicated that more than 20 per cent of affected staff had been underpaid by $150 or less; she added that the RBA takes paying its staff correctly very seriously, and it is "genuinely sorry" that the underpayment occured.

CORPORATES
RESERVE BANK OF AUSTRALIA, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Murdoch and conservative rivals circle Spectator and Telegraph

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Original article by Thomas Seal, Sabah Meddings, Alex Wickham
The Age – Page: Online : 15-Jun-23

News Corp chairman Rupert Murdoch could be among the potential bidders for the UK’s The Telegraph newspaper and The Spectator magazine. They have been put on the market after the holding company for the two publications was placed in receivership earlier in June. Sources have indicated that Murdoch made an offer of about Stg50 million ($93 million) for The Spectator two years ago, and he is said to have long desired owing the 195-year-old magazine. However, a Murdoch bid for The Telegraph may face antitrust concerns and political opposition. Other potential contenders for The Spectator are said to include Paul Marshall, the co-founder of hedge fund Marshall Wace, while the Daily Mail & General Trust is seen as a possible buyer of The Telegraph.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, MARSHALL WACE LLP, DAILY MAIL AND GENERAL TRUST PLC