Author: roymorgansocial

PM warns rebels could cost election

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 24-Nov-21

The federal government remains divided over the issue of COVID-19 vaccine mandates by its state counterparts. The government is under pressure from senators Gerard Rennick and Alex Antic to take legislative action to override such mandates, and they have raised the prospect of voting against government bills in the final session of parliament for the year. Prime Minister Scott Morrison has told a party room meeting that the Coalition risks losing the 2022 election if the dissent within its ranks continues.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

First act in office would be to kill voter ID law: Labor

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Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 24-Nov-21

Special Minister of State Ben Morton has told a parliamentary committee that nobody will be denied the right to vote under the federal government’s proposal to require people to prove their identity at polling booths. He also that more than 700 people had admitted to voting more than once at the 2019 election, and the Australian Electoral Commission had identified 311 multiple votes before they were counted. However, Labor senator Don Farrell has urged the government to withdraw the voter ID legislation; he also says Labor’s first priority would be to repeal the legislation if it wins the next election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY

Rental affordability crisis looms as borders reopen

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Original article by Michael Bleby
The Australian Financial Review – Page: 33 & 34 : 24-Nov-21

A report from JLL warns that demand for rental housing in Australia will exceed supply in the medium-term, as state and international borders reopen in the wake of the pandemic. Leigh Warner of JLL says there has been a lot of focus on housing affordability, but rental affordability is set to become a major issue. Demand for apartments in particular is expected to exceed supply in the next few years, with a seven per cent decline in pipeline of new projects during the September quarter.

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JONES LANG LASALLE AUSTRALIA PTY LTD

Slow-motion tax reform threatens film industry

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Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 24-Nov-21

Australia’s film and television industry is lobbying the federal government to increase the producer offset rate before parliament rises for the year. The offset was slated to rise from 20 per cent to 30 per cent from 1 July, and the industry has warned that some $400m worth of spending in the sector will be at risk if the legislation is not passed. Greens senator Sarah Hanson-Young has accused the government of attempting to "play political games" with the legislation, and called for it to be put before the Senate immediately.

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AUSTRALIAN GREENS

Inflation Expectations up 0.1% points to 4.9% in November; highest for seven years since November 2014

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Nov-21

In November 2021, Australians expected inflation of 4.9% annually over the next two years, up 0.1% points, and the highest Inflation Expectations since November 2014. Inflation Expectations are now 0.2% points above the long-term average of 4.7%, and 1.5% points higher than a year ago (3.4%) – the largest year-over-year increase in the index in the history of the series. A look at Inflation Expectations by Area shows a significant difference between how people in Capital Cities and Country Areas regard future price movements. Australians living in Capital Cities expect inflation of 4.7% annually over the next two years (up 1.6% points from the low of 3.1% in June 2020); those living in Country Areas expect far higher inflation, at 5.3% (up 2.1% points from June 2020). People in Country NSW expect inflation of 5.1% compared to 4.6% in Sydney, while in Country Victoria expected inflation is 5.5% compared to 4.9% in Melbourne. People in Country Queensland expect inflation of 5.8% (higher than any other Country Area or Capital City), compared to only 4.5% in Brisbane. The only exception to this trend is in South Australia; people in Adelaide expect inflation of 4.6%, compared to 4.2% in Country South Australia.

CORPORATES
ROY MORGAN LIMITED

Australian alcohol consumption increases during 2021 – wine, beer, spirits and RTDs all up on a year ago

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Nov-21

New data from Roy Morgan’s Alcohol Consumption Report shows that the proportion of Australians who drink alcohol increased by 3.5% points to 69.6% in the 12 months to September 2021. A total of 13,894,000 Australians (69.6%) aged 18+ consumed alcohol in an average four-week period in the year to September, up from 13,179,000 (66.4%) a year earlier. The number of Australians drinking wine increased from 8,539,000 (43.0%) to 9,263,000 (46.4%) – an increase of 3.4% points over the year. There were 7,138,000 Australians (35.7%) drinking beer, an increase of 0.5% points (+147,000) from a year earlier. In addition, there were 6,670,000 Australians (33.4%) drinking spirits in mid-2021, up from 6,121,000 (30.8%) a year earlier – an increase of 2.6% points. Also increasing was consumption of Ready-to-drinks (RTDs) which increased from 2,243,000 Australians (11.3%) to 2,745,000 (13.7%). The results were not as positive for other types of alcohol, with fewer Australians now drinking cider, liqueurs and fortified wines compared to a year ago. The findings are from the Roy Morgan Single Source survey, Australia’s most trusted and comprehensive consumer survey, derived from in-depth interviews with over 50,000 Australians each year.

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ROY MORGAN LIMITED

Atlas maps out iron-clad profit for a third year

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Original article by John Stensholt
The Australian – Page: 18 : 24-Nov-21

Atlas iron has posted a 2020-21 net profit of $938m, which is 146 per cent higher than previously. The junior iron ore miner is owned by Gina Rinehart’s Hancock Prospecting, which paid $427m for the company in 2018. Atlas Iron’s revenue was up 66 per cent to $1.7bn, and its Mt Webber and Sanjiv Ridge mines shipped a combined 9.7 million tonnes of iron ore during the financial year. Shipments from the Sanjiv Ridge mine began in 2020-21. Rinehart’s Roy Hill mine recently posted a net profit of $4.4bn for the financial year.

CORPORATES
ATLAS IRON LIMITED, HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD

Senate shoots down Bragg’s ABC complaints inquiry

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Original article by James Madden
The Australian – Page: 4 : 24-Nov-21

A motion to suspend a Senate committee’s inquiry into the complaints handling processes of the ABC and SBS has been passed by one vote in the upper house. Three independent senators backed the motion that had been put forward by Labor and the Greens. The inquiry had been launched by Liberal senator Andrew Bragg, who says the ABC’s own independent inquiry into its complaints system is not as strong as the proposed Senate probe. The inquiry will be put on hold until after the federal election.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA

ANZ-Roy Morgan Consumer Confidence lifts 1.4pts to 107.4 as vaccination rates rise and restrictions continue to ease

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Nov-21

ANZ-Roy Morgan Consumer Confidence rose 1.4pts to 107.4 on 20/21 November; it is below the 2021 weekly average of 108.2, but 2.9 points higher than the same week a year ago (104.5). Consumer Confidence was up in Victoria, Queensland and WA, while falling slightly in NSW and SA. Now 29% (unchanged) of Australians say their families are ‘better off’ financially than this time last year, while 26% (down 2ppts) say their families are ‘worse off’ financially. In addition, 37% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and 17% (unchanged) expect to be ‘worse off’ financially. Some 18% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 20% (unchanged) expect ‘bad times’. Meanwhile, 39% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 28% (down 2ppts) say now is a ‘bad time to buy’.

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

Hostile bids abound in era of uncertainty

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Original article by Richard Gluyas
The Australian – Page: 15 : 23-Nov-21

Data from law firm Minter Ellison shows that there have been eight hostile takeover bids in Australia so far in 2021, following nine such bids in 2020. This compares with just five in 2019, prior to the COVID-19 pandemic. Minter Ellison notes that the target’s board did not commission an independent expert’s report in 15 of the last 20 hostile takeover bids. Alberto Colla of Minter Ellison says bidders usually prefer to pursue a friendly takeover bid that has the support and recommendation of the target’s board.

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MINTER ELLISON