Author: roymorgansocial

Kevin Rudd petition seeking royal commission into Murdoch media nears 500,000 signatures

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 4-Nov-20

More than 475,000 people have now signed a petition calling for a royal commission to ensure a strong, diverse Australian news media. The petition, which is specifically targeting the media outlets of Rupert Murdoch, was posted on the parliamentary website by former prime minister Kevin Rudd. Although the petition is unlikely to achieve its aim, Rudd says his main goal is to start a national conversation about News Corp’s negative impact on Australia.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Westpac resumes dividend as profits plummet 62pc

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Original article by James Frost, James Eyers
The Australian Financial Review – Page: Online : 3-Nov-20

Westpac announced on 2 November that it had recorded a full-year cash profit of $2.608 billion, down 62 per cent. Cash earnings by its consumer bank unit were down 12 per cent to $2.7 billion, while earnings by its business bank unit declined by 62 per cent to $734 million. Impairments for bad and doubtful debts were raised by $2.2 billion to $6.2 billion, while Westpac will pay a pay a fully franked final dividend of $0.31 per share on 18 December.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Booktopia aims to raise $43.1m in IPO and list on ASX in December

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Original article by Samantha Bailey
The Australian – Page: Online : 3-Nov-20

Online book retailer Booktopia has announced plans to list on the ASX on 3 December, and is seeking to raise $43.1 million via an initial public offer. Booktopia claims it has a six per cent of the Australian book market, as well as accounting for just under 15 per cent of total internet consumer book sales in Australia. It generated revenue of $165.8 million in the 2020 financial year, and is forecasting revenue of $204.5 million in the 2021 financial year. Co-founder and CEO Tony Nash says he will be staying on as CEO when the company goes public, while he has no plans to sell any of his Booktopia shares in the IPO.

CORPORATES
BOOKTOPIA PTY LTD

It’s money in the till as Ritchies’ profit doubles

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 3-Nov-20

Independent supermarket retailer Ritchies has advised that its pre-tax profit for the 12 months ending June rose 98 per cent to $37.7 million. Net profit was up 79 per cent to $24.9 million, while sales increased by 14.7 per cent to $1.25 billion. CEO Fred Harrison said COVID-19 had helped bring about its better result, but he believes Ritchies was already on the improve before the pandemic hit. Harrison reaffirmed that he had no plans to exercise a put option to sell Ritchies to grocery, liquor and hardware wholesaler Metcash, which owns 26 per cent of Ritchies.

CORPORATES
RITCHIES STORES PTY LTD, METCASH LIMITED – ASX MTS

Johnny Depp loses his libel case

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Original article by
The Australian – Page: 3 : 3-Nov-20

‘Pirates of the Caribbean’ star Johnny Depp has lost his libel case over an article that appeared in ‘The Sun’ newspaper in the UK. The article made claims that Depp was violent to former wife Amber Heard during their turbulent two-year marriage, with Depp having sued News Group Publishers, which owns ‘The Sun’, along with the journalist who wrote the article. Depp’s loss in the case followed three weeks of testimony that included claims of domestic violence and substance abuse, with Judge Andrew Nicol stating the article had been shown to be "substantially true".

CORPORATES
NEWS GROUP NEWSPAPERS LIMITED

Concerned agency silenced in quarantine inquiry

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Original article by Peta Credlin
The Australian – Page: 1 & 5 : 3-Nov-20

The spread of COVID-19 from Victoria’s hotel quarantine program has led to the deaths of over 800 people, with the infection outbreak being blamed on the use of poorly trained private security guards rather than police or Australian Defence Force personnel. The botched program is the subject of an inquiry, and the Victorian Government Purchasing Board has complained to Victorian Treasury that it was not approached to provide evidence to the inquiry nor asked to provide input into Treasury’s statement. The Board contends that statement overlooked what it claims was the failure of the Department of Jobs, Precincts & Regions to follow correct procurement accreditation procedures when awarding private security contracts.

CORPORATES
VICTORIAN GOVERNMENT PURCHASING BOARD, VICTORIA. DEPT OF JOBS, PRECINCTS AND REGIONS, VICTORIA. DEPT OF TREASURY AND FINANCE

Aussie migrants give Melbourne the cold shoulder

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Original article by Geoff Chambers, David Tanner
The Australian – Page: Online : 3-Nov-20

The Australian Bureau of Statistics has reported that 25,000 people left Melbourne during the June quarter, while there was a 6,595 decline in the number of people coming to Melbourne when compared to the June 2019 quarter. Greater Melbourne’s net loss of 8,000 people was its biggest on record, while Greater Sydney’s net loss of 6,000 was its smallest quarterly net loss since 2016. Queensland recorded a net migration gain of 6,800 in the June quarter, while more people moved from Victoria to New South Wales than from NSW to Victoria for the first time since the June 2007 quarter.

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AUSTRALIAN BUREAU OF STATISTICS

LNP hopefuls jostle to be next leader

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Original article by Charlie Peel
The Australian – Page: Online : 3-Nov-20

Queensland Liberal National Party leader Deb Frecklington announced her resignation on 2 November, despite stating on the night of its big election loss on 31 October that she would be staying on as leader. Potential candidates for the position include current deputy Tim Mander, Dale Last and David Crisafulli, while Frecklington says she will remain MP for Nanango and is happy to serve on the LNP frontbench. Frecklington said she believed the COVID-19 pandemic had contributed to the LNP’s loss, while she said she will give her full support and loyalty to whoever is chosen as its new leader.

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LIBERAL-NATIONAL PARTY OF QUEENSLAND

No sense in Queensland’s Sydney bar, say experts

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Original article by Mark Ludlow, Hannah Wootton
The Australian Financial Review – Page: 3 : 3-Nov-20

Queensland will open its borders to all of regional New South Wales on 3 November, but its borders remain closed to people from Sydney. Prime Minister Scott Morrison and the national cabinet are aiming to have all state borders open by Christmas, and ABC health expert Dr Norman Swan says there is no justification for state borders to remain closed while national numbers of COVID-19 cases are so low. Meanwhile, federal Agriculture Minister David Littleproud accused Queensland Premier Annastacia Palaszczuk of playing on the fears of older Queenslanders in an attempt to win votes.

CORPORATES
AUSTRALIA. DEPT OF AGRICULTURE, WATER AND THE ENVIRONMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BROADCASTING CORPORATION, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Holgate resigns over Cartier row

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Original article by Jared Lynch
The Australian – Page: 3 : 3-Nov-20

Outgoing Virgin Australia CEO Paul Scurrah is being tipped as a possible replacement for Christine Holgate, after Holgate resigned as Australia Post CEO with immediate effect on 2 November. Holgate’s resignation followed ongoing controversy after she recently told a Senate estimates committee that she had spent almost $20,000 on Cartier watches to reward four Australia Post executives who had secured a $66 million per annum deal with three of the big four banks in 2018. Holgate said she "deeply regretted" the purchase of the watches, conceding that for many that it did not "pass the pub test". Scurrah was on the Australia Post board for almost two years from July 2017, and will step down from Virgin when its sale to Bain Capital is completed at the end of November.

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIA POST, BAIN CAPITAL LLC