Author: roymorgansocial

State on verge of superspread disaster: expert

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Original article by Stephen Rice
The Australian – Page: 4 : 21-Dec-20

University of New South Wales epidemiologist Raina MacIntyre says the state government should impose a lockdown across metropolitan Sydney if the northern beaches cluster worsens on 21 December. Professor MacIntyre warns that New Year’s Eve could become a major ‘superspreader’ event, as people who contract the coronavirus on Christmas Day will be at their most infectious six days later. She contends that a short, sharp lockdown across Sydney could avoid a major outbreak and much harsher restrictions in the new year.

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UNIVERSITY OF NEW SOUTH WALES

ANZ-Roy Morgan Consumer Confidence up 1.9pts to 111.2 as Australians become more confident about their personal finances

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Dec-20

ANZ-Roy Morgan Consumer Confidence increased 1.9pts to 111.2 on December 12/13. It is now 15.4pts above the 2020 weekly average of 95.8 and 3.2pts higher than a year ago (108.0). This is the highest Consumer Confidence has been since Melbourne Cup weekend in 2019 (113.5). Now 27% (up 3ppts) of Australians say their families are ‘better off’ financially than this time last year, while 28% (down 3ppts), say their families are ‘worse off’ financially (the lowest figure for this indicator since March 14/15). In addition, 41% (up 3ppts) of Australians expect their family to be ‘better off’ financially this time next year (the highest figure for this indicator since February 15/16), and 15% (up 2ppts) expect to be ‘worse off’ financially. Some 19% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since March), while 20% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since November 2010). Meanwhile, 43% (unchanged) of Australians say now is a ‘good time to buy’ major household items (the equal highest figure for this indicator since February 8/9), while 25% (unchanged) say now is a ‘bad time to buy’ (the equal lowest figure for this indicator for nine months).

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

March court start for Seven’s cricket battle

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Original article by Lilly Vitorovich
The Australian – Page: 15 : 16-Dec-20

The legal dispute between Seven West Media and Cricket Australia will be heard by the Federal Court in mid- March. Seven may seek damages or an order to terminate its broadcasting rights deal if the court rules in its favour. The case centres on CA’s changes to its itinerary for the 2020-21 season due to the coronavirus pandemic. Seven contends that it was commercially disadvantaged by CA’s decision to start the season with three one-day international matches against India, which were broadcast exclusively by Fox Sports.

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SEVEN WEST MEDIA LIMITED – ASX SWM, CRICKET AUSTRALIA, FEDERAL COURT OF AUSTRALIA, FOX SPORTS AUSTRALIA PTY LTD

Age divide in queue for Covid vaccine

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Original article by Sue Dunlevy
Herald Sun – Page: 13 : 16-Dec-20

The federal government will compile the list of people who will be given priority in receiving a COVID-19 vaccine when it releases expert advice on the roll-out strategy in late January. However, frontline health workers and aged-care staff will be the first to receive a vaccine. The government will also prioritise people based on age, with the nation’s population to be divided into 12 age brackets. People aged 70+ will receive a vaccine first, followed by those in the 65-70 age group. The rest of the population will be divided into five-year increment age groups. The UK has adopted a similar strategy for its COVID-19 vaccination program.

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Union calls for minimum wage for fruit pickers

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Original article by Ewin Hannan
The Australian – Page: 6 : 16-Dec-20

The Australian Workers’ Union will push for changes to the Horticulture Award to address the issue of wage exploitation in the sector. The ASU has applied to the Fair Work Commission to vary the industry award to include a wage floor for seasonal farm workers. The union’s proposal would provide a guaranteed minimum wage of $24.80 an hour, although piece rates would still be allowed. A recent investigation found that some fruit-pickers in the in the Coffs Harbour region of New South Wales were being paid just $3 an hour.

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AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. FAIR WORK COMMISSION

Court clears Village deal as dissenter stays away

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Original article by Max Maddison
The Australian Financial Review – Page: 27 : 16-Dec-20

The Federal Court has approved BGH Capital’s deal to acquire cinemas and theme parks group Village Roadshow. The company’s shareholders recently endorsed BGH’s scheme A offer of $3 per share. New York-based fund manager Mittleman Brothers opted against making an application to appear before the court, having been a vocal opponent of the takeover bid. BGH will have a 78 per cent stake in Village Roadshow, while the Kirby family and former CEO Graham Burke will hold a stake of about 22 per cent

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VILLAGE ROADSHOW LIMITED – ASX VRL, BGH CAPITAL PTY LTD, MITTLEMAN BROTHERS LLC, FEDERAL COURT OF AUSTRALIA

China accuses Australia of playing the victim and politicising trade, says coal ban is responsible act

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Original article by
abc.net.au – Page: Online : 16-Dec-20

China’s Ministry of Foreign Affairs has responded to growing criticism of its sanctions against some imports from Australia. Wang Wenbin, a spokesman for the ministry, has used a press conference in Beijing to stress that the recent action taken by the nation’s authorities is in accordance with Chinese laws and regulations, as well as international practice. He has also described it as a "responsible act" for Chinese industries and consumers. Coal appears to be the latest commodity to be hit by Chinese restrictions, which have also affected products such as wine, beef, timber and barley.

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CHINA. MINISTRY OF COMMERCE

Iron ore to defy probe threat

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Original article by Nick Evans
The Australian – Page: 13 & 19 : 16-Dec-20

Shares in Australia’s major iron producers retreated on 15 December in response to the China Iron & Steel Association’s call for regulatory intervention to address the rising iron ore price. However, resources analysts expect the iron ore price to remain high in the near-term, due to continued strong demand for steel in China. Lyndon Fagan of JP Morgan expects the benchmark price to average about $US140 a tonne in the March 2021 quarter and $US126 a tonne for the calendar year.

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JP MORGAN AUSTRALIA LIMITED

‘Solvency phase’: RBA warns of new bank pain

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Original article by Richard Gluyas
The Australian – Page: 13 & 17 : 16-Dec-20

The Reserve Bank of Australia’s head of stability Jonathan Kearns says the liquidity phase of the COVID-19 crisis is giving way to a solvency phase, which is emerging as a new challenge for the banking sector. Kearns says the economic shock from the pandemic has been much worse than the global financial crisis, but notes that Australia’s banks have been resilient during COVID-19 and have continued to lend. Banks are likely to start encouraging customers to resume loan repayments in the March quarter, after many opted to defer repayments due to the pandemic.

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RESERVE BANK OF AUSTRALIA

China coal ban an FTA breach

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Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 16-Dec-20

Prime Minister Scott Morrison says the federal government has received no "official information" from China about restrictions on coal imports from Australia. He says that any such move would be in breach of both the free-trade agreement between the two nations and World Trade Organization rules. China’s state-owned media has reported that Australian thermal coal will be blacklisted in favour of coal from countries such as Indonesia, Russia and Mongolia. Morrison contends that a ban on higher-quality Australian coal would increase China’s carbon emissions. He has also emphasised that Japan and India are bigger markets for Australian thermal and coking coal respectively than China.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET