Author: roymorgansocial

Optus tells customers affected by data breach they can no longer use passports as online ID

roymorgansocial Leave a comment

Original article by Tory Shepherd
The Guardian Australia – Page: Online : 18-Oct-22

Sydney Optus customer Daniel Reeders says he is angry that the telco did not tell customers whose passports were exposed under its recent data breach that it would ask the federal government to block those numbers from the national Document Verification System. Reeders does not drive so his passport number is his main means of identification, and he was one of over 100,000 Optus customers who had their passport numbers exposed by the hack; he had been told that he did not need to begin the process of getting a new one, prior to learning what Optus had asked the government to do.

CORPORATES
SINGTEL OPTUS PTY LTD

ABC calls for mandate to ensure it hosts federal election debate

roymorgansocial Leave a comment

Original article by Amanda Meade
The Guardian Australia – Page: Online : 18-Oct-22

A parliamentary committee is examining the conduct of the 2022 federal election, and is looking at issues such as voting rules and political donation laws. In its submission to the committee’s inquiry, the ABC has called for legislation that would see it host and broadcast at least one leaders’ debate during a federal election campaign. Then Prime Minister Scott Morrison accepted invitations to take part in debates with Anthony Albanese on the Seven and Nine networks and Sky News Australia during the 2022 election campaign, but refused to appear on the ABC. In arguing its case for at least one debate, the ABC noted in its submission that research has revealed it is the most trusted media brand, while it also pointed out it has Australia’s biggest "broadcast footprint".

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, SKY NEWS

ALP razor gang eyeing veterans, bushfire funds

roymorgansocial Leave a comment

Original article by Greg Brown
The Australian – Page: 4 : 18-Oct-22

Labor’s ‘razor gang’ is looking to make savings from the Community Development Grants Program, with one grant under scrutiny being one of $15 million to establish veteran wellbeing centres in three regional cities. Another grant potentially under scrutiny is one of almost $6 million to repair fire recovery centres in the Victorian towns of Ensay and Sarsfield, which were hit by the Black Summer bushfires. However, despite Labor’s review of the Community Development Grants Program, Prime Minister Anthony Albanese says regional Australia will not get left behind in its upcoming budget.

CORPORATES
AUSTRALIAN LABOR PARTY

Threadbare ethics of Australia’s fashion brands shown in charity group’s report

roymorgansocial Leave a comment

Original article by Genevieve Thorpe
The New Daily – Page: Online : 18-Oct-22

Charity organisation Baptist World Aid has released its annual ‘Ethical Fashion Guide’, in which it assesses 581 fashion and footwear brands against six key areas, including use of sustainable fibres, commitment to climate action and payment of living wages. The brands were ranked out of 100, with the total average score being just 29.25, down from 33.6 in 2021. Ethical underwear brand Mighty Good Basics achieved the highest score with 86 points, while 40 per cent of brands had no idea where their raw materials come from.

CORPORATES
BAPTIST WORLD AID

Superannuation fund returns go negative in September as markets weaken

roymorgansocial Leave a comment

Original article by Rod Myer
The New Daily – Page: Online : 18-Oct-22

Data from SuperRatings shows that the average balanced superannuation fund lost 3.1 per cent in value during September and 5.7 per cent in the year to September. Factors such as rising inflation and interest rates have weighed on super returns in 2022. SuperRatings’ executive director Kirby Rappell anticipates a challenging calendar year for returns in the sector. However, Rappell emphasises that super is a long-term investment, and he notes that balanced funds have returned an average of at least seven per cent over time.

CORPORATES
SUPERRATINGS PTY LTD

Clough on the brink amid fresh contract blowouts

roymorgansocial Leave a comment

Original article by Nick Evans, Perry Williams
The Australian – Page: 17 : 18-Oct-22

Murray & Roberts has advised the Johannesburg Stock Exchange that cost blowouts at the Waitsia gas project and a petrochemicals plant in Texas will reduce its profit for the six months to December. The company’s Australian subsidiary Clough is undertaking engineering work on the two projects, and Clough CEO Peter Bennett has advised staff that the contractor’s financial position has worsened since an update in early September. He also said Clough and its parent are looking at options for the company. Clough recently opened a data room for prospective buyers of the business, while sources have indicated that voluntary administration may also be an option.

CORPORATES
CLOUGH LIMITED, MURRAY AND ROBERTS HOLDINGS LIMITED, JOHANNESBURG STOCK EXCHANGE

The hidden message in Rupert Murdoch’s latest manoeuvre

roymorgansocial Leave a comment

Original article by John McDuling
The Age – Page: Online : 18-Oct-22

Rupert Murdoch’s proposal to reunify News Corp and Fox Corp is worthy of scrutiny. Both companies have changed significantly since being split in 2013. News Corp now derives the bulk of its revenue from digital real estate advertising rather than newspapers; likewise, Fox Corp’s focus has shifted to live news and sports after selling most of its entertainment assets to Disney. Combining the two companies makes some strategic sense, with the potential for greater cross-promotion across media platforms. Meanwhile, Barclays analysts have speculated that the reunification proposal may be aimed at preparing the companies for even more challenging economic conditions.

CORPORATES
NEWS CORPORATION – ASX NWS, FOX CORPORATION, BARCLAYS BANK PLC

Chalmers warns of rates-driven inflation

roymorgansocial Leave a comment

Original article by Ronald Mizen, Matthew Cranston
The Australian Financial Review – Page: 4 : 12-Oct-22

Treasurer Jim Chalmers says the world is facing a "substantial" global economic downturn, although he adds that the federal government’s first Budget on 25 October will not forecast a recession in Australia. Chalmers has also warned that the widening gap between interest rates in Australia and the US could boost inflation by putting downward pressure on the Australian dollar and making imports more expensive. Meanwhile, the International Monetary Fund now expects the Australian economy to grow by just 1.9 per cent in 2023; it had previously forecast growth of 2.2 per cent. The IMF has also downgraded its global growth forecast.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, INTERNATIONAL MONETARY FUND

More than one in five Australians worked from home at height of 2021 lockdowns, census shows

roymorgansocial Leave a comment

Original article by Caitlin Cassidy, Nick Evershed
The Guardian Australia – Page: Online : 12-Oct-22

Data from the Australian Bureau of Statistics shows that 25 per cent of capital city residents were working from home on Census day in August 2021. Some 20 per cent of people nationwide worked from home on the day of the Census, which coincided with COVID-19 lockdown restrictions across most of eastern Australia. The figures also show that 31 per cent of NSW residents worked from home on Census day, compared with just 4.8 per cent in 2016. Likewise, 26 per cent of people in Victoria were working from home, up from 4.6 per cent in 2016. Australian statistician David Gruen says the 2021 Census provides a "fascinating insight" into how Australians worked and lived during a global pandemic.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Australian unemployment drops to 8.1% in September as employment soars to a record high above 13.7 million

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 12-Oct-22

The latest Roy Morgan employment series data shows that 1.2 million Australians (8.1% of the workforce) were unemployed in September, down 161,000 (1.1%) from August. The number of Australians looking for full-time work fell 57,000 to 535,000 in September, and the number of people looking for part-time work was down 104,000 to 667,000. Some 1.56 million Australians (10.5% of the workforce) were under-employed – working part-time but looking for more work – up 59,000 from August. In total, 2.76 million Australians (18.6% of the workforce) were either unemployed or under-employed in September, up 72,000 on August. Meanwhile, employment increased by 218,000 to a record high of 13,705,000 in September. This was driven by a rise in both full-time employment (up 197,000 to 8,881,000) and part-time employment (up 21,000 to a record high of 4,824,000). Roy Morgan’s unemployment figure of 8.1% for September is more than double the ABS estimate for August of 3.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS