Author: roymorgansocial

Iron ore miners win port export boost

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Original article by Peter Ker
The Australian Financial Review – Page: 1 & 22 : 2-Feb-22

Some 523 million tonnes of iron ore were shipped through Port Hedland in 2020-21. The Western Australian government has approved a development plan that could see the port’s iron ore export capacity increase to around 660 million tonnes a year. The government has advised that BHP, Fortescue Metals Group and Roy Hill are each likely to receive a 25 per cent increase in their port allocations. In addition, Hancock Prospecting and Mineral Resources have won the right to build a new berth at Port Hedland.

CORPORATES
BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, MINERAL RESOURCES LIMITED – ASX MIN

Gas companies made almost $1m in donations to Labor and Liberals

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Original article by Royce Kurmelovs
The Guardian Australia – Page: Online : 2-Feb-22

Analysis of the Australian Electoral Commission’s political donation records show that fossil fuel producers and their lobby groups donated a combined $959,115 to the nation’s three largest political parties in 2020-21. The analysis by 350.org shows that the Liberal Party received $506,810 in total, ahead of Labor ($392,354) and the National Party ($59,991). Woodside Petroleum topped the list of donors, contributing a combined $232,250 to the coffers of the Liberal and Labor parties; it was followed by the Minerals Council of Australia, which donated $193,943 in total to the three political parties. The Greens do not accept donations from fossil fuel companies.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN ELECTORAL COMMISSION, 350.ORG

Morrison sees chance of a lifetime

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 2-Feb-22

Prime Minister Scott Morrison has conceded that the federal government has made some key mistakes in its handling of the COVID-19 pandemic. Amongst other things, Morrison has admitted that he underestimated the seriousness of the Omicron outbreak going into the summer months, while he should have put Lieutenant-General John Frewen in charge of the vaccine rollout from the outset. Morrison has also stated that Australia has a "once-in-a-lifetime opportunity" to reduce the unemployment rate to below four per cent. His target of a 3.75 per cent jobless rate in the second half of 2022 is more ambitious than that of the Reserve Bank, which expects it to reach this level by the end of 2023.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA

NSW to resume non-urgent elective surgery

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Original article by
abc.net.au – Page: Online : 2-Feb-22

New South Wales recorded 12,818 new COVID-19 cases on Tuesday, and an additional 30 deaths from the current outbreak. The latest fatalities include a man in his 30s who had received two vaccine doses and had no significant underlying health conditions; chief health officer Kerry Chant says this underlines the importance of getting a booster shot. Meanwhile, Health Minister Brad Hazzard has advised that hospitals will resume performing non-urgent elective surgery on 7 February. Victoria has reported 11,311 new cases and 34 deaths, while there have been 7,588 new infections and 10 deaths in Queensland.

CORPORATES
NEW SOUTH WALES. MINISTRY OF HEALTH

Future Fund tops $200b, banks on active managers

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 15 & 20 : 2-Feb-22

The federal government’s Future Fund has posted a return of 19.1 per cent for 2021. The sovereign wealth fund’s assets under management rose to a new high of $204bn during the calendar year. It has achieved a return of about 10.8 per cent each year since it was established in 2006 with just $60.5bn worth of assets. Future Fund CEO Raphael Arndt has warned that investors cannot expect the "easy returns" of the last decade or so to continue. He adds that some asset classes will be impacted when interest rates start to rise, although he has downplayed the prospect of stagflation.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY

Lowe keeps nation guessing on rates

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Original article by Patrick Commins
The Australian – Page: 1 & 5 : 2-Feb-22

Reserve Bank of Australia governor Philip Lowe has downplayed speculation that official interest rates will rise in 2022. Lowe stated that although inflation has increased, it is not yet sustainably within the central bank’s target range of 2-3 per cent. This has been identified as a prerequisite for increasing the cash rate, which was left at a record low of 0.1 per cent on Tuesday. The RBA will also end its quantitative easing program. Meanwhile, Lowe has forecast that core inflation will peak at 3.25 per cent, compared with 2.6 per cent at present, while he expects the unemployment rate to fall below four per cent later in 2022.

CORPORATES
RESERVE BANK OF AUSTRALIA

Report damns Rio’s culture of bullying

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Original article by Peter Ker
The Australian Financial Review – Page: 15 & 22 : 2-Feb-22

A review of Rio Tinto’s internal culture by former sex discrimination commissioner Elizabeth Broderick has revealed that inappropriate conduct is rife within the resources giant. More than 48 per cent of employees who participated in the review said they had experienced bullying at work, with workers in the company’s Pilbara iron ore division reporting the highest levels of bullying. In addition, about 28 per cent of female employees said that they had been subjected to sexual harassment, while nearly 40 per cent of indigenous Australian employees said they had been subject to racism within the last five years. Rio Tinto CEO Jakob Stausholm has committed to implementing all of Broderick’s recommendations.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Inflation Expectations dropped 0.1% points to 4.8% in December; down from seven year high in November

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Original article by Roy Morgan
Market Research Update – Page: Online : 2-Feb-22

In December 2021, Australians expected inflation of 4.8% annually over the next two years, down 0.1% points from the seven-year high reached in November. The small decline ended a record six straight months of increases from June to November. Inflation Expectations are now 0.1% points above the long-term average of 4.7% and 1.2% points higher than in December 2020 (3.6%). A look at Inflation Expectations by socio-economic quintile shows increases across the board since the measure reached a low in August 2020 during Victoria’s second wave of COVID-19. Australians in the highest ‘AB Quintile’ have experienced the largest increase since mid-2020, with their Inflation Expectations rising 1.8% points to 4.1% in December 2021. However, this is still significantly lower than all four other socio-economic quintiles. On a State-based level, Inflation Expectations were highest in two States, with large regional populations led by Tasmania at 5.5% and also well above the national average in Queensland at 5.2%. Queensland is unique as a State with more people living in regional areas than the capital city of Brisbane.

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ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence increased 1.7pts to 101.8pts as Omicron wave of COVID-19 continues to recede

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Original article by Roy Morgan
Market Research Update – Page: Online : 2-Feb-22

ANZ-Roy Morgan Consumer Confidence rose 1.7pts to 101.8 during the fourth week of January; however, Consumer Confidence is still 10.3pts below the same week a year ago (112.1), and it is now just above the 2022 weekly average of 101.5. On a State-based level, Consumer Confidence increased in New South Wales (up 6pts) and Western Australia (up 4.5pts) – the week after WA Premier Mark McGowan announced an extension to his State’s border closure – but it was down slightly in Victoria (down 2.6pts) and Queensland (down 0.6pts). Now 27% (unchanged) of Australians say their families are ‘better off’ financially than this time last year, while 28% (up 1ppt) say their families are ‘worse off’ financially. In addition, 37% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 18% (up 1ppt expect to be ‘worse off’ financially. However, just 15% (up 4ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 27% (down 1ppt) expect ‘bad times’. Meanwhile, 36% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 34% (down 1ppt) say now is a ‘bad time to buy’.

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

NZ’s new Opposition Leader Christopher Luxon boosts support for National by 5% points – highest since March 2020 (pre-pandemic)

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Feb-22

Support for New Zealand’s Labour/Greens government was down 2.5% points to 44% in December – the lowest combined level of support for the Government since Prime Minister Jacinda Ardern took office in October 2017. Support for the Labour Party was down 0.5% points to 35.5% and support for the Greens decreased by 2% points to 8.5%. In contrast, support for a potential National/Act NZ coalition government increased by 6% points to 50%, its highest since Ardern came to power. The increase was driven by support for the National Party rising 5% points to 31.5%, to its highest since March 2020 (37%), while support for Act NZ was up 1% point to a new record high of 18.5%. Support for the Maori Party fell 2% points to 1%. New Opposition Leader Christopher Luxon took over leadership of the National Party from former leader Judith Collins on November 30, and the latest Roy Morgan Poll shows that the change is already receiving a positive response from the New Zealand electorate. This latest New Zealand Roy Morgan Poll on voting intention was conducted by telephone – both landline and mobile – with a New Zealand-wide cross-section of 967 electors during December.

CORPORATES
ROY MORGAN LIMITEDMORGAN POLLLABOUR PARTY (NEW ZEALAND)GREEN PARTY OF AOTEAROA NEW ZEALANDNATIONAL PARTY OF NEW ZEALANDACT NEW ZEALANDTHE MAORI PARTY