Author: roymorgansocial

Judo kicks in first bank float in 25 years

roymorgansocial Leave a comment

Original article by Aleks Vickovich, William McInnes
The Australian Financial Review – Page: 15 : 2-Nov-21

Judo Capital Holdings’ shares closed at $2.26 on 1 November, compared with an issue price of $2.10. The owner of Judo Bank now has a market capitalisation of $2.5bn, making it Australia’s 162nd-biggest listed company. CEO Joseph Healy says Judo has a unique banking business model, and he emphasises that it does not regard itself as a fintech. Judo is focused on lending to small and medium enterprises, and it boasts a loan book worth around $4.4bn.

CORPORATES
JUDO CAPITAL HOLDINGS LIMITED – ASX JDO, JUDO BANK PTY LTD

Labour support down and Government Confidence Rating drops to lowest since Jacinda Ardern became PM in 2017

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 2-Nov-21

Support for New Zealand’s Labour/Greens government was down 5% points to 50% in October, as support for the Labour Party dropped 6% points to 39.5%. During this period the lockdown of New Zealand’s largest city of Auckland was extended throughout October. Support for the Greens was up 1% point to 10.5%. The governing parties are now only 6% points ahead of the Parliamentary opposition National/Act NZ/Maori Party on 44%, up 3% points since September. The increase was driven by a rise in support for National, up by 3% points to 26%. Act NZ was unchanged at a record high of 16% and support for the Maori Party was unchanged at 2%. A small minority of 6% of electors support other minor parties outside Parliament, with support for New Zealand First up 1% point to 2.5%, The Opportunities Party down 0.5% points to 1% and support for the New Conservative Party at 1.5%. 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 929 electors during October. Meanwhile, the Roy Morgan Government Confidence Rating dropped by 15.5pts in October to 109.5, to be at its lowest since Prime Minister Jacinda Ardern came to office four years ago in October 2017.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, NATIONAL PARTY OF NEW ZEALAND, ACT NEW ZEALAND, THE MAORI PARTY, THE OPPORTUNITIES PARTY, NEW CONSERVATIVE PARTY

Morrison outlines $2 billion funding pledge to UN climate summit

roymorgansocial Leave a comment

Original article by David Crowe
The Sydney Morning Herald – Page: Online : 2-Nov-21

Prime Minister Scott Morrison has used the COP26 climate summit to announce that Australia will contribute $2bn over five years to programs that will assist developing countries in the Pacific region to deal with climate change. He also reiterated the importance of technology in achieving net zero targets. Morrison noted that Australia has reduced its carbon emissions by 20 per cent since 2005, while the economy has grown by 45 per cent over the same period; he added that Australia’s emissions are on track to fall by 35 per cent by 2030, well ahead of its commitments under the Paris agreement. Meanwhile, British Prime Minister Boris Johnson has told the summit of a ‘doomsday’ scenario if action is not taken to address climate change.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

News site losing millions but increasing in value

roymorgansocial Leave a comment

Original article by John Rolfe
The Daily Telegraph – Page: Online : 2-Nov-21

The financial accounts of Industry Super Holdings shows that The New Daily lost $2.7m in 2020-21. The superannuation industry-backed news website has not booked a profit since it was founded nearly a decade ago, but its book value has been upgraded from zero to $4.4m following a review by an independent valuation expert. Liberal senator Andrew Bragg has questioned why super fund members are continuing to fund The New Daily, and reiterated his view that it is a "propaganda outfit" for union-linked super funds.

CORPORATES
THE NEW DAILY, INDUSTRY SUPER HOLDINGS PTY LTD, LIBERAL PARTY OF AUSTRALIA

Inflation Expectations jump 0.3% points to 4.8% in October; highest for seven years since November 2014

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 2-Nov-21

In October 2021, Australians expected inflation of 4.8% annually over the next two years, up 0.3% points, and the highest Inflation Expectations since November 2014. Inflation Expectations are now 1.3% points higher than a year ago (3.5%). Inflation Expectations are also now 0.1% points above the long-term average of 4.7%, the first time the measure has been above the long-term average since June 2012. A look at Inflation Expectations by Gender and Age shows that the gap between women and men is persisting and has widened slightly in recent months. Women’s Inflation Expectations are at 5.3% in October 2021, compared to 4.2% for men. Inflation Expectations are highest for people aged 50-64 at 5.0%. Women in this age group have Inflation Expectations of 5.6% compared to only 4.4% for men. There is also a large ‘Gender Gap’ of 1.3% points for people at either end of the age spectrum. For people aged under 35 women have Inflation Expectations of 5.4% compared to 4.1% for men, and those aged 65+ women’s Inflation Expectations are 5.3% compared to 4.0% for men. The only exception to this trend is for people aged 35-49 who have Inflation Expectations of 4.6% – the lowest of any age group. In this group the ‘Gender Gap’ is only 0.4% with women’s Inflation Expectations of 4.8% slightly higher than that for men of 4.4%.

CORPORATES
ROY MORGAN LIMITED

Seven West lobs new deal for Prime

roymorgansocial Leave a comment

Original article by Sophie Elsworth
The Australian – Page: 15 : 2-Nov-21

Seven West Media is set to acquire regional broadcasting affiliate Prime Media in a $131.9m deal. The transaction will require approval from at least 50 per cent of Prime’s shareholders, and Seven West has indicated that investors who hold some 43.5 per cent of Prime’s shares have already expressed support for the deal. Seven West CEO James Warburton says the deal will extend the group’s audience reach and provide advertisers and media buyers with access to metropolitan and regional markets via a single platform. Seven’s previous bid for Prime in 2019 was blocked by key shareholders.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT

Federal government offers Hongkongers Australian permanent residency pathway

roymorgansocial Leave a comment

Original article by Joshua Boscaini, Stephen Dziedzic
abc.net.au – Page: Online : 2-Nov-21

The federal government will offer two new permanent residence visa streams for Hong Kong passport holders who have lived in Australia for at least four years. Almost 9,000 people are expected to be eligible to apply for the new visas from 5 March, including temporary skilled workers, temporary graduate workers and student visa holders. Applicants for the new visas will not need to be sponsored by an employer or be in a job that is on the list of current skills shortages. In 2020, the government agreed to offer "safe haven" for Hong Kong passport holders after China’s introduced new national security laws in the former British colony.

CORPORATES

PM sinks Macron’s subs lie

roymorgansocial Leave a comment

Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 2-Nov-21

Prime Minister Scott Morrison has responded to the latest furore over the decision to cancel Naval Group’s $90bn submarines contract. French President Emmanuel Macron has accused Morrison of lying about both the submarines contract and Australia’s decision to establish the AUKUS alliance. Morrison says he did not lie to Macron and informed him in mid-June that Australia had concerns about the Naval Group project and was looking at alternative submarines. Morrison says the decision to cancel the contract was made in the national interest. The federal government attempted to inform Macron of the decision two days before the AUKUS deal was announced, but Macron advised that he was not available to take a call from Morrison.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NAVAL GROUP

Santos green-lights Moomba carbon storage

roymorgansocial Leave a comment

Original article by Cameron England
The Australian – Page: 13 & 17 : 2-Nov-21

Santos has made a final investment decision to proceed with the Moomba carbon capture and storage project in South Australia. MD Kevin Gallagher says the project will permanently store 1.7 million tonnes of carbon dioxide per annum in depleted oil and gas reservoirs, at a projected cost of about $US24 per tonne. Gallagher and federal Minister for Energy and Emissions Reduction Angus Taylor will make a formal announcement on the project at the COP26 climate summit in Glasgow. Beach Energy has a one-third stake in the project.

CORPORATES
SANTOS LIMITED – ASX STO, BEACH ENERGY LIMITED – ASX BPT, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Stapling workers to lazy super funds could cost them $300,000: AIST

roymorgansocial Leave a comment

Original article by Cliona O’Dowd
The Australian – Page: 17 : 28-Oct-21

More than $56bn of workers’ retirement savings are invested in default superannuation funds that recently failed a performance test. This test was introduced as part of the ‘Your Future, Your Super’ reforms, which also include "stapling" workers to one superannuation account throughout their career. The Australian Institute of Superannuation Trustees’ CEO Eva Scheerlinck has called for changes to the stapling regime to ensure that workers are not tied to a persistently underperforming fund.

CORPORATES
AUSTRALIAN INSTITUTE OF SUPERANNUATION TRUSTEES