Author: roymorgansocial

Giant IOOF to lift its game after MLC buy

roymorgansocial Leave a comment

Original article by Cliona O’Dowd
The Australian – Page: 17 & 19 : 1-Sep-20

IOOF Holdings has reported a 2019-20 underlying net profit of $128.8m, which is 35 per cent lower than previously, with revenue up 10 per cent at $1.17bn. Meanwhile, IOOF will boast $510bn worth of funds under management following its deal to acquire MLC, making it Australia’s largest retail wealth manager. CEO Renato Mota says the $1.4bn deal is ‘transformational’ for both IOOF and the broader wealth management industry. The deal with National Australia Bank will be partially funded via a $1.04bn capital raising.

CORPORATES
IOOF HOLDINGS LIMITED – ASX IFL, MLC LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Australia’s top cop says raiding journalist’s home was no mistake

roymorgansocial Leave a comment

Original article by Jennifer Dudley-Nicholson
Herald Sun – Page: Online : 1-Sep-20

Australian Federal Police Commissioner Reece Kershaw appeared before a Senate inquiry into press freedom on 31 August. He told the inquiry that the AFP had been right to raid the home of News Corp Australia journalist Annika Smethurst in mid-2019, despite the fact that the search warrant was subsequently ruled to be invalid by the High Court. Media, Entertainment & Arts Alliance CEO Paul Murphy told the inquiry that contestable search warrants are necessary to ensure press freedom. However, Kershaw and Department of Home Affairs secretary Michael Pezzullo argued that allowing such warrants would be "detrimental to the workings" of the police.

CORPORATES
AUSTRALIAN FEDERAL POLICE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, AUSTRALIA. DEPT OF HOME AFFAIRS

Migration, tax reform key to revival

roymorgansocial Leave a comment

Original article by Geoff Chambers
The Australian – Page: 4 : 24-Aug-20

The Australian Industry Group has urged the federal government to pursue major changes to the nation’s tax system. The employers’ group says long-term tax reform measures should include an overhaul of the goods and services tax, the abolition of mining royalties and replacing fuel excise with road-user charges. It has also called for scheduled personal income tax cuts to be brought forward and business income tax relief to be extended. The AiGroup also wants the migrant cap to be increased, with priority given to skilled migrants.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP

Labor likely to hold on in NT but must wait

roymorgansocial Leave a comment

Original article by Amos Aikman
The Australian – Page: 1 & 2 : 24-Aug-20

The Northern Territory’s Chief Minister Michael Gunner is confident of retaining office following the election on 22 August. Gunner’s Labor party seems set to win at least 11 of the 25 seats in the Legislative Assembly, while the Country Liberal Party appears to have won three seats to date; another two seats have been provisionally awarded to independents. With 10 seats still in doubt, it remains uncertain as to whether Labor will win outright or will have to seek a coalition arrangement. CLP leader Lia Finocchiaro has not yet conceded defeat.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNTRY LIBERAL PARTY

It’s official: Internet is Australia’s main source of news; TV remains most trusted

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 24-Aug-20

New research from Roy Morgan reveals that the internet has overtaken TV as Australia’s main source of news over the last two years. Over 12.7 million Australians (60.8%) now say the internet is a main source of news, up 1.4 million since 2018; nearly 7.9 million Australians (37.7%) specifically nominate Social Media. The number of Australians who say TV is their main source of news has dipped 1 million over the last two years to 12.4 million, or 59.4%. However, TV is still regarded as the most trusted source of news by nearly 7 million Australians (33.4%). Other traditional media used widely as main sources of news include radio, nominated by 8.7 million Australians (41.9%) and printed newspapers, mentioned by 5.2 million (25.0%), although both have declined since 2018. Within the broader category of the internet over 3.4 million Australians (16.5%, a significant increase of 4.6% points since 2018) use news feed sites such as Google News, Apple News and Feedly, a further 1.8 million (8.6%) use email subscriptions or updates and 1.1 million (5.6%) use other websites or apps. These findings are drawn from the Roy Morgan Single Source survey, Australia’s most comprehensive consumer survey, derived from in-depth interviews with 50,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED

Border closures could become illegal

roymorgansocial Leave a comment

Original article by Natasha Boddy
The Australian Financial Review – Page: 4 : 24-Aug-20

Professor Catherine Bennett of Deakin University says a decline in the number of new COVID-19 cases could prompt a review of state border closures within weeks. Western Australia and Queensland are among the states that want hard border closures to be maintained, while Victorian Premier Daniel Andrews concedes that it will be some time before the state can argue the case for other jurisdictions to relax their border controls. Swinburne University’s Professor Bruce Thompson says the legality of border closures may be called into question if case numbers keep falling.

CORPORATES
DEAKIN UNIVERSITY, VICTORIA. DEPT OF PREMIER AND CABINET, SWINBURNE UNIVERSITY OF TECHNOLOGY

L-NP (54%) widens lead over ALP (46%) in mid-August as Victoria and NSW grapple with second wave of COVID-19

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 24-Aug-20

Roy Morgan CEO Michele Levine says support for the L-NP Federal Government (54%) is at its equal highest since the 2019 Federal Election, now well ahead of the ALP (46%) on a two-party preferred basis. Support for the LN-P has risen strongly in South Australia, NSW, Victoria and Queensland. The second wave of COVID-19 which began in Melbourne with a breach of hotel quarantine in late May has led to a Stage 4 lockdown in the city since early August with mandatory mask wearing enforced throughout Victoria for all residents. The good news is that since the Stage 4 lockdown began new cases of the virus have dropped significantly and are now at their lowest since early July. Looking forward, the extension of the JobKeeper and JobSeeker support packages until March 2021 has provided certainty to businesses dealing with the ongoing impact of the pandemic, and the example of NSW over the last seven weeks shows that the virus can be successfully managed.

CORPORATES
MORGAN POLL, ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

China’s great science swindle

roymorgansocial Leave a comment

Original article by Sharri Markson, Kykar Loussikian
The Australian – Page: 1 & 6 : 24-Aug-20

Andrew Hastie has called for a parliamentary investigation into China’s Thousand Talents Plan. The research scheme sees Australian scientists offered good second salaries and attractive perks, but requires any inventions developed under it to be patented in China and for the scientists to abide by Chinese law. FBI director Christopher Wray has described the Thousand Talents Plan as "economic espionage" and a threat to national security, while Hastie, chair of federal parliament’s joint ­intelligence committee, says the revelations regarding the scheme show how Australian research and intellectual property is being "plundered by the CCP".

CORPORATES
UNITED STATES. FEDERAL BUREAU OF INVESTIGATION

Victoria: State of confidence but virus is stubborn

roymorgansocial Leave a comment

Original article by Rachel Baxendale
The Australian – Page: 5 : 24-Aug-20

Victoria reported 208 new coronavirus cases on 23 August, after case numbers remained below 200 on each of the two previous days. The state’s seven-day daily average has fallen to 218, its lowest level since mid-July. Chief Health Officer Brett Sutton is optimistic that daily case numbers will not return to the 300-400 range, while Premier Daniel Andrews has warned against complacency in the final weeks of Melbourne’s stage-four lockdown. Victoria’s death toll has risen by 17 to 415; and the national toll is now 502.

CORPORATES
VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIA. DEPT OF HEALTH AND HUMAN SERVICES

Morrison wins crossbench support for jobs plans

roymorgansocial Leave a comment

Original article by Rosie Lewis
The Australian – Page: 4 : 24-Aug-20

Centre Alliance will back the federal government’s push to extend temporary changes to the Fair Work Act which allow bosses to vary the hours an employee works and the duties they perform. One Nation senator Malcolm Roberts has signalled that he is also likely to side with the government, which would require only one more crossbench vote in the Senate. The industrial relations changes are linked to the government’s revised JobKeeper scheme. The bill will be put before parliament within days.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY