Author: roymorgansocial

Seven West’s five-year fightback

roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 19 : 24-Aug-20

Former Fairfax Media CEO Greg Hywood has completed a review of West Australian Newspapers, amid ongoing speculation about the future of the Seven West Media division. WAN’s editor-in-chief Anthony De Ceglie says Hywood’s recommendations will be taken into account in developing a five-year plan for the newspaper publisher. He adds that WAN will continue to publish print editions for some time, while there has been strong growth in digital subscriptions since WAN paywalled its news websites in mid-2019. Seven West will report its 2019-20 financial results on 25 August.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED, FAIRFAX MEDIA LIMITED

Fortescue to deliver Forrest record pay-out

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 13 : 24-Aug-20

The consensus of analysts polled by Bloomberg is that Fortescue Metals Group will post a record underlying profit of $US4.7bn ($6.6bn) for 2019-20, and a final dividend of $0.90 per share. Fortescue founder Andrew Forrest is set to receive more than $1bn in dividends for the second half, and about $1.85bn for the full year. This compares with a total distribution of $1.24bn in 2018-19. Forrest and his wife are significant donors to a range of philanthropic causes via their Minderoo Foundation.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINDEROO FOUNDATION

China devours one-third of all our farm exports

roymorgansocial Leave a comment

Original article by Patrick Commins
The Australian – Page: 5 : 20-Aug-20

Data from Rabobank shows that China accounted for 32 per cent of Australia’s food and agricultural exports in 2019-20. China also bought 30 per cent of Australia’s lamb exports and 25 per cent the nation’s beef exports during the financial year, while it accounted for 77 per cent of wool shipments. Tim Hunt of Rabobank warns that Australia is too reliant on a single export market, particularly given the recent tensions between the two nations. He notes that while China has been the major driver of the agribusiness sector’s growth over the last decade, there is a need to diversify into other export markets.

CORPORATES
RABOBANK AUSTRALIA LIMITED

Democratic convention viewership tumbles 24% on first night

roymorgansocial Leave a comment

Original article by Gerry Smith, Christopher Palmeri
Bloomberg – Page: Online : 20-Aug-20

Data from Nielsen shows that about 19.7 million people watched the first night of the Democratic National Convention on broadcast and cable television networks. This compares with a first night viewership of 25.9 million in 2016. However, some 10.3 million people watched a live stream of the convention, compared with just three million in 2016. Joe Biden’s election campaign team estimates that the combined broadcast and streaming audience was nearly 29 million, which is slightly higher than four years ago.

CORPORATES
DEMOCRATIC PARTY (UNITED STATES), THE NIELSEN COMPANY

Aim is for 95pc to have corona jab: Morrison

roymorgansocial Leave a comment

Original article by Richard Ferguson
The Australian – Page: 6 : 20-Aug-20

Prime Minister Scott Morrison has emphasised that it will not be compulsory for Australians to receive a COVID-19 vaccine. He had initially stated that vaccination would be "as mandatory as possible" and people would only be exempted on medical grounds. However, Morrison says his preference is for 95 per cent of Australians to be vaccinated, and the government will introduce measures aimed at encouraging a high rate of immunisation when and if an effective COVID-19 vaccination becomes available.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Booming online sales deliver for Domino’s

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 17 : 20-Aug-20

Domino’s Pizza Enterprises has reported a 2019-20 net profit of $138.4m, which is 19.4 per cent higher than previously. Group sales rose by 32.7 per cent to $1.9bn, although its Australian and New Zealand arm’s earnings were down 5.8 per cent at $129.4m due to the impact of the coronavirus pandemic. Meanwhile, the company has indicated that its digital platforms now account for 72.1 per cent of group sales. Domino’s has also advised that it provided franchisees with some $14m worth of financial support in 2019-20 due to the pandemic.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

Google may walk over media code

roymorgansocial Leave a comment

Original article by John Durie
The Australian – Page: 15 & 24 : 20-Aug-20

Google’s revenue in Australia totalled $4.3bn in 2020, while its net profit fell from $129.5m to just $33.9m. Although the digital giant has not publicly threatened to withdraw its search engine from the Australian market in response to the mandatory code of conduct, such a move is clearly being contemplated. Any move by Google to pull out of the local market could test the resolve of other nations to crack down on digital companies. It would also be very risky from a commercial point of view, as it would give Google’s search engine rivals a big boost in a market which it dominates.

CORPORATES
GOOGLE INCORPORATED

Business groups push to open international borders for economic boost

roymorgansocial Leave a comment

Original article by Jennifer Duke
The Sydney Morning Herald – Page: Online : 20-Aug-20

Australian Chamber of Commerce & Industry CEO James Pearson is among the business leaders who have urged the federal government to re-open the nation’s international borders as soon as possible. He describes it as a "critically important step" in the Australian economy’s recovery from the COVID-19 pandemic, and he argues that domestic markets cannot sustain high employment and living standards. Australian Industry Group CEO Innes Willox and Business Council of Australia CEO Jennifer Westacott have also called for international travel restrictions to be eased as soon as possible.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, THE AUSTRALIAN INDUSTRY GROUP, BUSINESS COUNCIL OF AUSTRALIA

Northern Star’s path brightens

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 25 : 20-Aug-20

Northern Star Resources has posted a 2019-20 net profit of $258.3m, which is 67 per cent higher than previously. EBITDA rose from $479.7m previously to a record $745.4m. Shareholders will receive a final dividend of $0.095 per share, while executive chairman Bill Beament attributes the special dividend of $0.10 a share to the mid-tier gold producer’s strong financial position and growth outlook. Meanwhile, Saracen Mineral Holdings has reported net income of $189.7m for the financial year and revenue of $1.07bn.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR

AMP to reveal damning report

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian – Page: 15 & 19 : 20-Aug-20

Wealth manager AMP has advised that it will release the report of an independent investigation into the sexual harassment allegations against Boe Pahari. The investigation was undertaken in 2017, and the lawyers representing complainant Julia Szlakowski say that she never received a copy of the full report of the investigation. Pahari was appointed as CEO of AMP Capital in July. Australian Council of Superannuation Investors CEO Louise Davidson contends that Pahari’s position is untenable.

CORPORATES
AMP LIMITED – ASX AMP, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED