Author: roymorgansocial

Nine, Foxtel rugby match nears finish

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Original article by Max Mason
The Australian – Page: 18 : 15-Oct-20

Sources have indicated that a decision on Rugby Australia’s next broadcasting rights deal could be made within days. Rugby Australia has held meetings with executives from Foxtel and Nine Entertainment, and the discussions are said to be "well advanced". Foxtel currently holds the broadcasting rights, while Nine could potentially broadcast one Super Rugby match each week as well as the Wallabies’ matches. Any deal with Nine could also include more extensive rugby coverage via its Stan streaming video service.

CORPORATES
RUGBY AUSTRALIA, FOXTEL MANAGEMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, STAN ENTERTAINMENT PTY LTD

Pressure to extend wage plan to all ages

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Original article by Geoff Chambers, Ewin Hannan
The Australian – Page: 6 : 12-Oct-20

Prime Minister Scott Morrison says the federal government will not agree to any concessions to get its JobMaker wage subsidy scheme through Parliament. Labor and the Senate crossbenchers have expressed concern that the scheme could be rorted and is too focused, given that it is only available to employers who hire people aged up to 35. Shadow treasurer Jim Chalmers says the JobMaker scheme leaves 928,000 older Australians "in the lurch", and says the existing incentive scheme for employing people aged 50+ has been a "monumental failure". Unions have warned that the government’s wage subsidy scheme for apprentices could also be exploited.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Deadly cancer genes found

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Original article by Andrew Koubaridis
Herald Sun – Page: 3 : 12-Oct-20

Researchers from Monash University and the Cancer Council Victoria have used genetic sequencing to identify three genes that are linked to aggressive forms of prostate cancer. The research found that genetic alterations in three key genes are linked to men who have a strong family history of the cancer, which kills about 60 Australian men each week. Dr Tu Nguyen-Dumont of the Monash School of Clinical Sciences says that identifying men who are more likely to develop the aggressive form of prostate cancer will in turn enable those who require urgent treatment to be identified.

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MONASH UNIVERSITY, THE CANCER COUNCIL VICTORIA

Virus can live for 28 days

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Original article by Miles Kemp
Herald Sun – Page: 10 : 12-Oct-20

Research by the CSIRO has found that the COVID-19 virus can survive at room temperature on smooth, non-porous surfaces for at least 28 days. This includes polymer banknotes and the glass screens of mobile telephones. Previous research had suggested that the virus could survive on most surfaces for 3-7 days, and for up to 14 days at most. The CSIRO’s deputy director Debbie Eagles says the coronavirus can survive for up to 10 days longer than the flu virus, which underlines the need for good hygiene practices.

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CSIRO

Cash to go: the tax cuts start to flow

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Original article by Greg Brown
The Weekend Australian – Page: 1 & 7 : 10-Oct-20

The omnibus bill containing the federal Budget’s key tax measures was passed by both houses of Parliament on 9 October. The stage-two income tax cuts are expected to begin flowing through to workers’ take-home pay in November, after the Australian Taxation Office adjusts its withholding tax schedules. The omnibus bill also provides tax relief for corporate Australia, including a business investment allowance, a loss carry-back scheme and changes to the fringe benefits tax regime that will benefit small businesses.

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AUSTRALIAN TAXATION OFFICE

Blue chips steal AGM season spotlight

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Original article by Vesna Poljak
The Australian Financial Review – Page: 22 : 12-Oct-20

Futures pricing suggests that the Australian sharemarket will open flat on 12 October, despite a positive lead from Wall Street. The annual general meetings season is set to again be the key focus for investors in the coming week; the Commonwealth Bank, Telstra and CSL are among the blue-chip stocks that are slated to hold their AGMs. Macquarie has indicated that trading updates and commentary are likely to be of increased importance during the current AGM season, given that just 19 per cent of listed companies provided earnings guidance during the recent reporting season.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TELSTRA CORPORATION LIMITED – ASX TLS, CSL LIMITED – ASX CSL, MACQUARIE GROUP LIMITED – ASX MQG

Industry on a high as Diggers & Dealers conference kicks off in Kalgoorlie

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Original article by Nick Evans
The Australian – Page: 16 : 12-Oct-20

The annual Diggers and Dealers conference will commence in Kalgoorlie on 12 October and is being held at a time of great optimism within the minerals sector. A number of major discoveries have been made by both large and small companies in the past two years, including Rio Tinto’s Winu discovery and De Grey Mining’s new gold project in Western Australia’s Pilbara region. The conference’s opening comes just days after Northern Star Resources and Saracen Mineral Holdings announced a $16 billion merger.

CORPORATES
DIGGERS AND DEALERS FORUM, RIO TINTO LIMITED – ASX RIO, DE GREY MINING LIMITED – ASX DEG, NORTHERN STAR RESOURCES LIMITED – ASX NST, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, NEWCREST MINING LIMITED – ASX NCM, ALKANE RESOURCES LIMITED – ASX ALK, CHALICE GOLD MINES LIMITED – ASX CHN, STAVELY MINERALS LIMITED – ASX SVY, ST BARBARA LIMITED – ASX SBM, REGIS RESOURCES LIMITED – ASX RRL, SILVER LAKE RESOURCES LIMITED – ASX SLR, RAMELIUS RESOURCES LIMITED – ASX RMS, GOLD ROAD RESOURCES LIMITED – ASX GOR, BELLEVUE GOLD LIMITED – ASX BGL, ENCOUNTER RESOURCES LIMITED – ASX ENR, IGO LIMITED – ASX IGO, BHP GROUP LIMITED – ASX BHP

Mini-steps to Melbourne reopening

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Original article by Alex White, Sharon McGowan
Herald Sun – Page: 9 : 12-Oct-20

Victoria recorded 12 new coronavirus cases on 11 October, following 14 on the previous day; the state’s death toll from COVID-19 has risen by one to 810. Victoria’s 14-day average of new cases is now 9.6, and Premier Daniel Andrews has conceded that the target number for stage-four lockdown restrictions to be eased on 19 October is unlikely to be met. However, he has signalled that there will be "significant changes" to the restrictions, which could include allowing larger groups of people to gather outdoors. Restrictions on regional businesses are also likely to be relaxed. Meanwhile, the government has extended Victoria’s ‘State of Emergency’ and ‘State of Disaster’ declarations for another four weeks.

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VICTORIA. DEPT OF PREMIER AND CABINET

Pressure builds for AMP break-up

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Original article by Joyce Moullakis
The Australian – Page: 13 & 16 : 12-Oct-20

Simon Mawhinney of Allan Gray Australia says breaking up AMP would be the best option for unlocking the wealth manager’s value. He adds that if a suitor opts to acquire the entire company they are likely to sell off parts of the business. AMP recently revealed plans to undertake a portfolio review, and its board is believed to be planning to update investors on a possible sale of all or part of the company before the end of 2020. Alan Kwan of Australian Eagle Asset Management says AMP may choose to press ahead with a turnaround plan, given the challenges involved in ‘disentangling’ and divesting parts of the business.

CORPORATES
AMP LIMITED – ASX AMP, ALLAN GRAY AUSTRALIA PTY LTD, AUSTRALIAN EAGLE ASSET MANAGEMENT PTY LTD

Andrews and staffers to hand over phone and text records

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Original article by Ewin Hannan, Tessa Akerman
The Australian – Page: 1 & 5 : 12-Oct-20

The board of inquiry into Victoria’s botched hotel quarantine program has requested access to the telephone records of Premier Daniel Andrews and his senior staff. This includes Chris Eccles, the head of Department of Premier & Cabinet. Andrews has indicated that his government will provide full access to this data, including text messages and all messages that were posted on encrypted apps in relation to the quarantine program. The inquiry is still trying to determine who was responsible for the decision to use private security guards.

CORPORATES
VICTORIA. DEPT OF PREMIER AND CABINET