Author: roymorgansocial

Australian government urged to expand refugee intake as Afghans seek to flee Taliban rule

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Original article by Ben Doherty, Daniel Hurst
The Guardian Australia – Page: Online : 20-Aug-21

Australia has set a figure of 13,750 humanitarian visas for the current financial year, with 3,000 of that number to be set aside for Afghan nationals fleeing the Taliban regime. However, Prime Minister Scott Morrison has stated that the 3,000 figure is a "a floor, not a ceiling" and that "we can think we can achieve more". It is possible that the allocation of 13,750 humanitarian visas may not actually be met, as COVID-19 travel limitations are particularly restrictive on humanitarian visa holders.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

BHP wary as nickel takeover talks proceed

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Original article by Nick Evans
The Australian – Page: 18 : 20-Aug-21

Nickel miner Western Areas has advised that it is holding preliminary discussions with IGO Limited regarding a potential merger. IGO is keen to expand its nickel portfolio, given that its Nova project in Western Australia is nearing the end of its mine life. Further consolidation in the sector would have implications for BHP’s Nickel West division, whose Kalgoorlie smelter is highly dependent on nickel supply from smaller producers.

CORPORATES
WESTERN AREAS LIMITED – ASX WSA, IGO LIMITED – ASX IGO, BHP GROUP LIMITED – ASX BHP

Pressure on airlines to vaccinate workers

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Original article by Robyn Ironside
The Australian – Page: 17 : 20-Aug-21

Alliance Aviation’s Scott McMillan expects more airlines to adopt a policy of mandatory COVID-19 vaccination for their employees. Alliance will require all staff and contractors to be vaccinated by 15 November; Qantas recently announced that it will also enforce a ‘no jab, no job’ policy. Michael Tooma, the managing partner of law firm Clyde & Co, says that mandatory vaccination is a "lawful and reasonable direction" for sectors such as aviation under occupational health and safety laws. He agrees that other airlines are likely to implement such a policy.

CORPORATES
ALLIANCE AVIATION SERVICES LIMITED – ASX AQZ, QANTAS AIRWAYS LIMITED – ASX QAN, CLYDE AND COMPANY LLP

Jobless data hides the premiers’ recession

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Original article by Terry McCrann
Herald Sun – Page: 59 : 20-Aug-21

The latest ‘official’ unemployment data belies the fact that the Australian economy is already in a ‘second wave’ recession. The Australian Bureau of Statistics figures show that the unemployment rate fell to a 12-year low of just 4.6 per cent in July. The more accurate and more meaningful data released by Roy Morgan two weeks ago had already shown that the real jobless rate in July was 9.7 per cent. Likewise, the Roy Morgan figures show that the underemployment rate is 9.1 per cent, compared with the ABS estimate of 8.3 per cent. Unlike the Roy Morgan data, the ABS figures cover only the first half of July, so they include Victoria’s fifth lockdown but not the current and already much longer one.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, ROY MORGAN LIMITED

‘Taxpayers should know’: Senator calls for audit of ABC payment for upskirting tweet

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Original article by Zoe Samios, Lisa Visentin
The Age – Page: Online : 20-Aug-21

Liberal MP Andrew Laming sued ABC reporter Louise Milligan for defamation over tweets she made which alleged that he had taken an "upskirting" picture of a woman. Milligan had agreed to pay Laming $79,000 in damages and cover his legal costs, but the ABC decided to pay her defamation costs, even though it had not been party to the action. Liberal Senator Eric Abetz has asked the Auditor-General to examine the appropriateness of the ABC’s actions, stating that taxpayers have a right to know why it paid Milligan’s bill.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. OFFICE OF THE AUDITOR-GENERAL, LIBERAL PARTY OF AUSTRALIA

News chief urges bosses to champion the rollout

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Original article by James Madden
The Australian – Page: 7 : 20-Aug-21

News Corp Australasia’s executive chairman Michael Miller has called on Australia’s business owners and leaders to "cham­pion the vaccination rollout". He says the media company is doing all it can to encourage and help its staff to get vaccinated as soon as they can, and he urges all other businesses to adopt the same approach. Miller has called on federal and state leaders to set vaccination targets and a timetable that will enable all Australians "to plan for life in a new normal state of affairs".

CORPORATES
NEWS CORP AUSTRALIA PTY LTD

Lihir mine finally shines for Newcrest

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Original article by Nick Evans
The Australian – Page: 19 : 20-Aug-21

Newcrest Mining has posted a record $US1.16bn profit for 2020-21, with EBITDA of $US2.44bn and revenue of $US4.58bn. Newcrest produced 2.1 million tonnes of gold during the financial year, at an average all-in-sustaining cost of $US911 an ounce. Meanwhile, CEO Sandeep Biswas believes that new mining methods could allow the company to lift production at its Lihir mine in Papua New Guinea to one million ounces per year. Shareholders will receive a final dividend of $US0.40 per share, and a full-year payout of $0.55.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM

Movement in the Perth & Adelaide CBDs now at around two-thirds of pre-pandemic averages while Sydney & Melbourne CBDs locked down

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Aug-21

A special analysis of movement data in Australia’s Capital City CBDs since the COVID-19 pandemic began shows movement in the Perth CBD and the Adelaide CBD increasing to around two-thirds of their pre-pandemic average in mid-August, even as extended lockdowns cause movement to remain well below pre-pandemic levels in both the Sydney CBD and Melbourne CBD. The average 7-day movement level in the Adelaide CBD was at 67% of pre-pandemic levels in mid-August, just ahead of the Perth CBD at 64%. This is the highest level of movement in both cities since late May. Both cities have had one short and sharp lockdown during the winter months and both have managed to snuff out their respective outbreaks of COVID-19. In contrast, movement levels in the Sydney CBD remain near record lows at only 14% of pre-pandemic levels – a slight increase since restrictions on the construction industry were relaxed somewhat in early August. The average movement levels in the Melbourne CBD were also at only 14% of pre-pandemic levels in mid-August as the city entered its sixth lockdown in early August. Since then the Melbourne lockdown has been extended until September and this week restrictions have been tightened with a curfew re-introduced and the banning of the use of children’s playground equipment. Just behind the two leaders in third place is the Hobart CBD with movement levels at 55% of pre-pandemic averages in mid-August. Movement in the Brisbane CBD was at 45% of pre-pandemic averages in mid-August and bouncing back quickly after the city’s fifth lockdown ended just over a week ago. Roy Morgan has partnered with leading technology innovator UberMedia to aggregate data from tens of thousands of mobile devices to assess the movements of Australians as we deal with the restrictions imposed in response to the COVID-19 pandemic.

CORPORATES
ROY MORGAN LIMITED, UBERMEDIA

A perfect storm is brewing for Australia’s iron ore miners

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Original article by Stephen Bartholomeusz
The Age – Page: Online : 20-Aug-21

A convergence of "China-centric" developments have seen the price of iron ore fall by over 30 per cent since its May peak, and some will have long-term impacts on demand for Australia’s most valuable export commodity. One of these developments is China’s commitment to achieve a peak in its carbon emissions by 2030 and to be net zero by 2060. China’s steel industry accounts for 13 per cent of its emissions, so this is one of the main areas of its focus, while it is also seeking to source new supplies of iron ore.

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Super funds post strong July gains after big year

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Original article by Cliona O’Dowd
The Australian – Page: 17 : 19-Aug-21

Data from Chant West shows that the median growth superannuation fund gained 1.1 per cent in July, matching the rise in the Australian sharemarket for the period. This follows a return of 18 per cent for 2020-21, and the median growth fund has now gained about 27 per cent since reaching a coronavirus-induced low in late March 2020. International shares gained 1.7 per cent in hedged terms during July, while emerging markets shares fell 4.7 per cent in unhedged terms.

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD