Author: roymorgansocial

Australian unemployment drops to 9.4% in June – before three States enforce COVID lockdowns

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Original article by Roy Morgan
Market Research Update – Page: Online : 5-Jul-21

The latest Roy Morgan employment series data shows that 1.39 million Australians were unemployed in June, down 99,000 on May, for an unemployment rate of 9.4%. The workforce in June was 14,768,000 – comprised of 13,374,000 employed Australians (an increase of 305,000) and 1,394,000 unemployed Australians looking for work (up 99,000). In addition to those who were unemployed, 1.26 million Australians (8.5% of the workforce) were underemployed – working part-time but looking for more work. This was unchanged from May. In total, 2.65 million Australians (17.9% of the workforce) were either unemployed or underemployed in June, a drop of 98,000 on May. The decrease was driven by the fall in unemployment. Roy Morgan’s unemployment figure of 9.4% for June is more than 4% points higher than the current ABS estimate for May 2021 of 5.1%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Australia ranks last for climate action among UN member countries

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Original article by Lisa Cox
The Guardian – Page: Online : 2-Jul-21

Australia Institute climate expert Richie Merzian says he is not surprised that Australia has been ranked last in a survey of 193 members of the United Nations in terms of action taken to reduce greenhouse gas emissions. He says the federal government has no climate and energy policy, instead preferring to cherry-pick technologies, many of which support the fossil fuel industry. Australia’s last-place ranking on climate action was contained in a report on progress towards global sustainable development goals, with Australia ranking 35th in that area.

CORPORATES
THE AUSTRALIA INSTITUTE LIMITED, UNITED NATIONS

Global tax reform: 130 countries commit to minimum corporate rate

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Original article by Richard Partington
The Guardian – Page: Online : 2-Jul-21

The OECD has advised that 130 countries and jurisdictions have agreed to plans for a global minimum corporate tax rate. The principle of the agreement is that multinationals would be compelled to pay a minimum of 15 per cent tax in each country in which they operate, with the global minimum tax rate expected to raise around $US150 billion. The agreement also looks to curtail profit shifting, with over $US100 billion (Stg73 billion) expected to be raised by curbing this activity.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Just one in 10 ASX 200 are chaired by a woman

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Original article by Sally Patten
The Australian Financial Review – Page: 21 : 2-Jul-21

Analysis by the Australian Institute of Company Directors shows that women held 33.6 per cent of board seats at companies in the S&P/ASX 200 Index at the end of May. This compares with 30.9 per cent at the same time in 2020. However, the AICD figures also show that just 21 companies in the ASX 200 are chaired by women, compared with 18 in 2020 and 14 in the previous year. Lendlease director Nicola Wakefield Evans says action is needed to boost the number of women who chair blue-chip companies.

CORPORATES
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, STANDARD AND POOR’S ASX 200 INDEX, LENDLEASE GROUP – ASX LLC

Global equities the big winner

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Original article by Alex Gluyas
The Australian Financial Review – Page: 27 : 2-Jul-21

Data from BetaShares shows that Australia’s benchmark S&P/ASX 200 gained 27.8 per cent on a total returns basis in 2020-21, including dividends. This compares with a return of 37.4 per cent for the MSCI All Country World Index, which was boosted by technology and financial stocks. The Australian market was in turn bolstered by strong gains from consumer discretionary stocks (up 46.1 per cent), financials (40.6 per cent), technology (39.8 per cent) and resources (29.2 per cent). The S&P 500 gained 40.8 per cent in 2020-21, and it reached another new record high on 1 July.

CORPORATES
BETASHARES CAPITAL LIMITED, STANDARD AND POOR’S ASX 200 INDEX, MSCI ALL COUNTRY WORLD INDEX, STANDARD AND POOR’S 500 INDEX

Fewer than 8% of Australian adults fully vaccinated four months into Covid rollout

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Original article by Christopher Knaus
The Guardian Australia – Page: Online : 2-Jul-21

New data from the federal government shows that just 1.63 million Australians aged 16+ (7.92 per cent) have received both doses of the Pfizer or AstraZeneca COVID-19 vaccine to date. Some 6.11 million (about 30%) have had their first dose since the vaccine rollout began in late February. The figures also show that despite being a priority in the rollout, the proportion of older Australians who are fully vaccinated remains low. This varies from 38.4 per cent of people in the 95+ age group to 5.7 per cent of those aged 65-69. Epidemiologist Hassan Vally says the number of people aged 60+ who are fully vaccinated should rise sharply in coming weeks, due to the 12-week delay in receiving the second AstraZeneca dose.

CORPORATES
ASTRAZENECA PLC, PFIZER INCORPORATED

Current account surplus gives Australian economy breathing room, says Bank of America

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Original article by Michael Janda
abc.net.au – Page: Online : 2-Jul-21

Data from the Australian Bureau of Statistics shows that the nation has posted a trade surplus of $9.68bn for May, slightly below the record $9.87bn surplus in January. Exports rose by 6.1 per cent in May, amid continued strong demand for commodities such as iron ore. The steel input has been a key driver of Australia’s trade surpluses. Tony Morriss from Bank of America notes that while the iron ore price is widely tipped to fall, the decline may not be as sharp as anticipated, as the massive infrastructure program in the US will help to offset any fall in demand from China as that nation’s stimulus measures are wound back.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, BANK OF AMERICA AUSTRALIA LIMITED

Coal mine gets $175m federal loan

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Original article by Mark Ludlow
The Australian Financial Review – Page: 10 : 2-Jul-21

The $5 billion Northern Australian Infrastructure Facility has approved a $175 million loan to Pembroke Resources for its proposed Olive Downs coking coal mine in Queensland. The mine will support up to 700 jobs during its construction phase and over 500 jobs when it is up and running. Approval of the loan for the Olive Downs project comes only two months after federal Resources Minister Keith Pitt vetoed a $280 million loan by the NAIF for a wind farm project in North Queensland.

CORPORATES
NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, PEMBROKE RESOURCES PTY LTD, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

PM seeks deal to end lockdowns

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Original article by Greg Brown, Simon Benson
The Australian – Page: 1 & 4 : 2-Jul-21

Prime Minister Scott Morrison will try to get an agreement from the premiers and chief ministers on the vaccination threshold that needs to be met in order to end COVID-19 lockdowns when national cabinet meets on 2 July. Morrison says the "magic number" for this threshold will be determined by medical science. The national cabinet has already been given modelling for a vaccination threshold based on the Alpha variant, while modelling for one based on the more contagious Delta variant is understood to be nearly finished. Meanwhile, some premiers have called for a big reduction in the number of international arrivals until the majority of Australians have been vaccinated.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ABC pockets $30m in studio sale

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Original article by Sophie Elsworth
The Australian – Page: 3 : 2-Jul-21

The ABC has sold its Gordon Street television studios in the Melbourne suburb of Elsternwick for an undisclosed price, which is believed to be about $30m. The public broadcaster had previously sold its Selwyn St properties in Elsternwick, which included studios and warehouse facilities. The ABC relocated its Melbourne headquarters and production facilities to inner-city Southbank after closing its historic Elsternwick studios, which were built when television was introduced in Australia in 1956.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION