Author: roymorgansocial

Budget offers last reset chance as May 14 looks likely for poll

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Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 19-Jan-22

Federal government ministers and MPs believe that an election is now unlikely to be held in March, citing factors such as the emergence of the Omicron strain of COVID-19, supply chain problems and a shortage of rapid antigen tests. The government has previously signalled that the Budget will be handed down on 29 March, which would make 7 May the earliest possible date to call an election. There is growing consensus within the Coalition’s ranks that the election will be held on either 14 or 21 May.

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China downturn a boon for Australia

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Original article by Max Maddison
The Australian – Page: 2 : 19-Jan-22

BIS Oxford Economics’ chief economist Sarah Hunter says China’s economic growth may slow to around five per cent in 2022. This is in turn likely to prompt the Chinese government to pursue "fairly significant" direct and indirect fiscal stimulus measures, which would boost demand for key Australian commodity exports such as iron ore. Hunter adds that any measures aimed at boosting consumer spending in China could also benefit Australia’s non-commodity exporters, including producers of high-end food products and other consumer durables.

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BIS OXFORD ECONOMICS PTY LTD

Woodside closes GIP Pluto deal

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Original article by Matt Bell
The Australian – Page: 15 : 19-Jan-22

Woodside Petroleum has completed a deal to sell a stake in the Pluto LNG plant to US-based Global Infrastructure Partners. The $4.9bn deal for GIP to buy a 49 per cent stake in the Pluto LNG Train 2 joint venture had been announced in November. The new processing unit at the Pluto project is expected to cost $US5.6bn ($7.8bn) in total, with shipments slated to begin in 2026. Jack Bertolus of climate shareholder action group Market Forces has criticised National Australia Bank for heading a consortium of 18 banks that will provide lending to GIP for the project.

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WOODSIDE PETROLEUM LIMITED – ASX WPL, GLOBAL INFRASTRUCTURE PARTNERS, MARKET FORCES

ANZ-Roy Morgan Consumer Confidence drops 8.1pts to 97.9 as Omicron variant surges and there are shortages of PCR tests, Rapid Antigen tests and broader supply chain issues

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jan-22

ANZ-Roy Morgan Consumer Confidence decreased during the second week of January, down 8.1pts to 97.9 and is now at its lowest since October 2020 during Victoria’s second wave of COVID-19. In addition, Consumer Confidence is now 10.8 pts below the same week a year ago (108.7). The fall is likely related to several factors including the surging ‘Omicron variant’ of COVID-19 which has also led to shortages in PCR tests, Rapid Antigen tests, vaccine dose availability for children aged 5-11 (which began last week), and supply chain issues with shortages of key goods in supermarkets and other retailers. Many Australians have also returned from their holidays and were back at work last week after a positive Consumer Confidence reading to start the year. Consumer Confidence this week was down in all States, except in South Australia – in which Consumer Confidence had already dropped a week ago, and is now below the neutral level of 100 in all States. Driving the decrease were negative movements across the index, with particularly large falls in personal finances compared to a year ago and current buying intentions.

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

Covid isolation rules may be cut to five days

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Original article by Tom McIlroy, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 19-Jan-22

Federal Treasurer Josh Frydenberg notes that some countries have reduced the isolation period for people with COVID-19 from 7-10 days to just five. He has not ruled out a similar move in Australia to help address a labour shortage in key sectors. Frydenberg says isolation rules are under constant review and stressed that health settings will remain "pragmatic and proportionate". Chief medical officer Paul Kelly concedes that shorter isolation periods would increase the risk of community transmission. Some state governments have already reduced the isolation period for people with the virus to seven days.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HEALTH

Privacy fight for BHP vax order as miners caught faking jabs

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 19-Jan-22

BHP has defended its decision to require all employees to provide proof of their COVID-19 vaccination status by 31 January. The resources group says it needs all relevant information to ensure that employees are not faking their vaccination status. A spokesman says that immunisation history statements and COVID-19 digital certificates will only be viewed by members of BHP’s health and medical teams. The CFMEU has expressed concern about the privacy implications of BHP’s policy, and has taken the matter to the Fair Work Commission.

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

Liberals slam unions’ strike threat on rapid antigen tests

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Original article by Jess Malcolm
The Australian – Page: 4 : 19-Jan-22

The federal government has criticised the ACTU for raising the prospect of strike action if workers are not given free rapid antigen tests. Treasurer Josh Frydenberg has warned that industrial action at this stage of the pandemic would punish Australian families, while Health Minister Greg Hunt says the provision of free rapid tests across all sectors would "destroy" the supply chain. Frydenberg has also rejected claims that the government has adopted a ‘let it rip’ approach to COVID-19. Labor leader Anthony Albanese says businesses should not have to bear the cost of providing their employees with rapid antigen tests.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN LABOR PARTY

Tennis Australia board breaks silence to commend Craig Tiley following Novak Djokovic saga

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Original article by Emma Kemp
The Guardian Australia – Page: Online : 19-Jan-22

Tennis Australia has issued its first public statement on the Novak Djokovic visa controversy. Tennis Australia’s board says it respects the decision of immigration minister Alex Hawke to cancel Djokovic’s visa and the federal court’s ruling against the Serbian tennis champion’s bid to have it reinstated. The board has also praised Tennis Australia CEO Craig Tiley, who has been under pressure to resign in the wake of the Djokovic crisis.

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TENNIS AUSTRALIA

Covid-19 crimps Rio Tinto iron ore

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Original article by Nick Evans
The Australian – Page: 13 & 14 : 19-Jan-22

Rio Tinto’s latest production report shows that its iron ore shipments fell by three per cent to 321.6 million tonnes in calendar 2021. This is at the lower end of its revised target for the year, which was scaled back to between 320 and 325 million tonnes in October. The resources group expects its iron ore shipments in 2022 to be within the range of 320 to 335 million tonnes; however, the company has cautioned that its full-year guidance could be affected by any new outbreak of COVID-19 as Western Australia reopens its borders. Rio Tinto also reported lower full-year production of copper, titanium dioxide, bauxite and aluminium.

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RIO TINTO LIMITED – ASX RIO

ICU numbers still much lower than Delta’s worst

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Original article by Rachel Baxendale
The Australian – Page: Online : 7-Jan-22

NSW had 131 people with COVID-19 in ICU on Thursday, while the state had 206,667 known active cases. The number of people in ICU is significantly down on the number of people that were in ICU in NSW hospitals at the peak of its Delta wave in September, when there were just 27,997 active cases and 242 in ICU. A similar decline can be seen in Victoria, which had 61,120 known active cases on Thursday and 51 people in ICU. At the height of its Delta wave in October, it had 25,035 active cases and 163 people in ICU.

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