Author: roymorgansocial

Submarine jobs will be sent offshore under nuclear deal with US and UK, defence suppliers say

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Original article by Andrew Greene
abc.net au – Page: Online : 1-Oct-21

The federal government’s now cancelled $90 billion submarine contract with the French called for a commitment to 60 per cent of the work being done by local suppliers. With that deal now replaced by one with the US and UK that will see Australia get nuclear-powered submarines, the local defence industry is calling for a similar commitment. However, there are suggestions that the government’s focus has shifted from local industry to getting the submarines built quickly, prompting concerns that local submarine jobs will be sent overseas.

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Demand for new houses goes through the roof

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Original article by Melissa Iaria
The Australian – Page: 20 : 1-Oct-21

Data from the Australian Bureau of Statistics shows that there was 6.8 per cent growth in dwelling approvals nationwide in August. This followed an 8.6 per cent decline in July. Private-sector housing approvals rose by 3.5 per cent month-on-month and nearly 24 per cent over the year to August. Daniel Rossi from the ABS attributes the rebound in housing approvals to factors such as increased household savings, historically low interest rates and confidence in the housing market.

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AUSTRALIAN BUREAU OF STATISTICS

Hydroxychloroquine sales spiked almost 100% in Australia at start of Covid pandemic, study finds

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Original article by Donna Lu
The Guardian Australia – Page: Online : 1-Oct-21

Australian researchers have reported that there was a 99 per cent increase in hydroxychloroquine dispensing in March 2020. The surge came at a time when it was being touted by people such as Donald Trump and Elon Musk as being effective against COVID-19, despite there being no evidence of this. They also found that new use of ivermectin doubled in May 2020, even though studies that suggest it can effectively treat COVID-19 have not held up under careful scrutiny.

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Delaying the NRL grand final is an option

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Original article by Dean Ritchie, Jeremy Ritchie
The Australian – Page: 23 : 1-Oct-21

Australian Rugby League Commission chairman Peter V’landys says the NRL Grand Final due to be played on 3 October could be postponed if Queensland’s COVID-19 crisis worsens and Premier Annastacia Palaszczuk bans crowds from attending the game at Suncorp Stadium. Stating that the game must be played in front of a crowd, he says the NRL’s preferred option would be to switch the game to Townsville. Any decision to switch the game to Townsville will have to be made by late on 1 October to give officials enough time to make all the arrangements, but Townsville has also been impacted by COVID-19.

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AUSTRALIAN RUGBY LEAGUE COMMISSION LIMITED, NATIONAL RUGBY LEAGUE

Foxtel on track to top 5m subscribers

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Original article by James Madden
The Australian – Page: 13 & 20 : 1-Oct-21

Pay-TV and streaming group Foxtel currently boasts more than four million customers, and CEO Patrick Delany has told the inaugural strategy day that it aims to lift this to five million within three years. Foxtel will also target annual revenue of $3bn. Delany noted that Foxtel has been transformed from a one-product company several years ago to one with multiple revenue streams as its focus has shifted from traditional linear broadcasting to subscription video-on-demand. Some 53 per cent of Foxtel’s customers now subscribe to one of its streaming services, compared with eight per cent in 2016. Delany also said that the question of an IPO is a matter for Foxtel’s shareholders.

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FOXTEL MANAGEMENT PTY LTD

Rio finds trust low after Juukan

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Original article by Lachlan Moffet Gray
The Australian – Page: 16 : 1-Oct-21

Rio Tinto’s survey of traditional owners in the Pilbara shows that the resources group still has much work to do in repairing strain relations in the wake of the destruction of ancient indigenous rock shelters at Juukan Gorge in 2020. One of the traditional owner entitles expressed the view that Rio Tinto is doing the "the bare minimum" to rebuild its reputation with indigenous Australians. Rio Tinto CEO Jakob Stausholm says that listening to indigenous groups will be a priority as it seeks to rebuild trust.

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RIO TINTO LIMITED – ASX RIO

Major miners push for net-zero

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Original article by Greg Brown
The Australian – Page: 1 & 6 : 1-Oct-21

Minerals Council of Australia CEO Tania Constable says the mining sector has embraced a net-zero carbon emissions target of 2050. She adds that carbon capture and storage technology will play a key role in the sector’s push to become carbon-neutral by the target date, including coal producers. Meanwhile, the federal government is set to expand the Emissions Reduction Fund and make large-scale CCS projects eligible for the carbon credit scheme.

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MINERALS COUNCIL OF AUSTRALIA

Union blasts ABC on management, underpay

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Original article by Miranda Ward
The Australian Financial Review – Page: 17 : 1-Oct-21

A review by the ABC has found that current and former staff employed under certain pay categories between 14 July 2014 and 20 July 2021 had been underpaid. The public broadcaster’s announcement that some staff had been underpaid has prompted an attack by the Community & Public Sector Union, which has accused the ABC of having "serious cultural problems", while urging it to rein in the poor management practices that caused the underpayment problems.

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AUSTRALIAN BROADCASTING CORPORATION, COMMUNITY AND PUBLIC SECTOR UNION

Victoria’s exit from lockdown could be delayed if grand final case spike becomes trend

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Original article by Paul Sakkal
The Age – Page: Online : 1-Oct-21

Victorian Premier Daniel Andrews says "some poor choices" resulted in the state reporting a record 1,438 new COVID-19 cases on Thursday. He has not ruled out pushing back the scheduled date for relaxing Melbourne’s lockdown restrictions if case numbers and hospitalisation rates continue to rise. Contact-tracing interviews suggest that about 500 of the new cases may be linked to illegal home gatherings on the AFL grand final long weekend. COVID-19 response commander Jeroen Weimar has warned that the ‘superspreader’ event could potentially see case numbers reach the upper limit of modelling by the Burnet Institute, which formed the basis for the state government’s reopening roadmap. Victoria’s death toll from COVID-19 has risen by five, and there are now 11,018 active cases state-wide.

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VICTORIA. DEPT OF PREMIER AND CABINET

Roy Morgan Business Confidence increases by 3.1pts (+3.1%) to 104.6 in September as NSW and Victoria outline re-opening plans

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Sep-21

In September 2021, Roy Morgan Business Confidence rose 3.1pts (+3.1%) to 104.6. Business Confidence has increased for the first time since May, following the outlining of re-opening plans in September in both NSW and Victoria. Business Confidence is 19pts (+22.2%) higher than in September 2020 (85.6); however, Business Confidence is now 9.2pts below the long-term average of 113.8. Businesses grew increasingly confident about the performance of the Australian economy, with of 50.4% of businesses expecting ‘good times’ for the economy over the next 12 months. In addition, 47.4% of businesses say the next 12 months is a ‘good time to invest in growing the business’. Business Confidence in September was widely divergent amongst the Australian States although all six were up strongly on a year ago. Western Australia has by far the highest Business Confidence at 135.4, up 26.5pts (+23.4%) from a year ago and is now over 30pts higher than the national figure of 104.6. The latest Roy Morgan Business Confidence results for September are based on 1,417 detailed interviews with a cross-section of Australian businesses from each State and Territory.

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ROY MORGAN LIMITED