Author: roymorgansocial

NSW ski resorts the main game in town as Victorian border closes

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Jul-20

For Australians (outside Victoria) wanting to enjoy some skiing this year the NSW ski resorts of Thredbo, Perisher/Smiggins and smaller resorts in the NSW Snowy Mountains are the only game in town with travel to Victoria closed until at least late August. The latest Roy Morgan data shows that 322,000 Australians plan on visiting one of the NSW Snowfields in the next two years. Over three-quarters of these prospective skiers and snowboarders (249,000) are from NSW/ACT, including 180,000 from Sydney and a further 69,000 from Country NSW/ACT. A further 60,000 people from the rest of Australia (Queensland, WA, SA, NT or Tasmania) plan on visiting one of the NSW Snowfields in the next two years. NSW borders remain open to residents of all these locations, although the return home might require a period of quarantine. The Victorian border closure will not have a big impact on the NSW ski resorts as only 13,000 potential skiers and snowboarders from the southern State plan on visiting one of the NSW ski resorts. Most Victorians prefer one of the local resorts. Of the 163,000 Victorians planning to visit a local ski resort in the next two years 134,000 (82%) are from locked down Melbourne and only 29,000 (18%) are from the still open Country Victoria.

CORPORATES
ROY MORGAN LIMITED

Queen played no role in Whitlam dismissal

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Original article by Paul McIntyre, Troy Bramston
The Australian – Page: 1 & 7 : 15-Jul-20

Labor maintains that Queen Elizabeth was involved in the dismissal of the Whitlam government, despite the release of correspondence between former governor-general Sir John Kerr and Buckingham Palace. The letters show that although Sir John kept the palace informed of the unfolding constitutional crisis in November 1975, the Queens was not told in advance that he intended to dismiss the government. Buckingham Palace has released a statement confirming this, and stating that the Queen respects the independence and primacy of the Australian Constitution.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. OFFICE OF THE GOVERNOR-GENERAL

Wineries count cost of smoke on premium grapes

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Original article by Simon Evans
The Australian Financial Review – Page: 16 : 14-Jul-20

Tyrrell’s Wines stated in late January that it might not be able to use 80 per cent of its grape crop because of smoke taint from the summer bushfires. However, MD Bruce Tyrrell says it ended up not being able to make wine from 85 per cent of its crop, with most of the grapes it could not use being consumed by cattle. He says the problem of smoke taint from bushfires is something the wine industry is likely to have to deal with again some time in the next 10 years. Cassegrain Wines, which had its grape intake cut by 70 per cent because of smoke taint, will be part of a three-year research project that will look at new ways of dealing with grapes exposed to smoke.

CORPORATES
TYRRELL’S VINEYARDS PTY LTD, CASSEGRAIN VINEYARDS

Bain pumps crucial $125m into Virgin

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Original article by Lucas Baird
The Australian Financial Review – Page: 12 & 14 : 14-Jul-20

Virgin Australia aims to have 35 per cent of its pre-COVID-19 capacity in the sky by the end of August, according to the minutes of a committee of inspection meeting. The minutes also reveal that Virgin’s prospective new owner, Bain Capital, injected $125 million into the airline on 1 July to insure its immediate survival. The committee of inspection comprises a group of around 30 Virgin creditors, and lead administrator Vaughan Strawbridge says the committee has endorsed the sale of the airline to Bain Capital.

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

Fortescue rides iron ore boom

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Original article by Nick Evans
The Australian – Page: 13 & 16 : 14-Jul-20

Data from Port Hedland shows that its iron ore export volumes rose to a record 51.8 million in June, and 281 million tonnes in the year to date. This is six per cent higher than the same period in 2019, and Glynn Lawcock of UBS says Fortescue Metals Group may exceed its guidance of 175 to 177 million tonnes for 2019-20. He adds that the strength of the iron ore price and high shipping volumes could see Fortescue announce a final dividend of $0.98 per share, compared with the consensus forecast of $0.80.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD

China issues upgraded travel warning for Australia

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Original article by Matthew Doran
The New Daily – Page: Online : 14-Jul-20

China’s Ministry of Foreign Affairs has ramped up its travel warnings for Chinese citizens planning to travel to Australia. It claims that Australian law agencies have been "arbitrarily" searching Chinese travellers and seizing their property. The Ministry states that there have been increased levels of racial discrimination and violence in Australia, and the nation’s media has been inciting anti-China sentiment. The warning is a further sign of China’s increased hostility towards Australia.

CORPORATES
CHINA. MINISTRY OF FOREIGN AFFAIRS

Native title challenge to Forrest deal

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Original article by Paige Taylor
The Australian – Page: 2 : 14-Jul-20

Billionaire miner and philanthropist Andrew Forrest and his wife Nicola have bid to buy two adjoining cattle stations in the Kimberley region of Western Australia. Traditional owners of the Fitzroy also bid for the Jubilee Downs and Quanbun Downs stations, but they bid $25 million, while the Forrests are believed to have bid $30 million. The Yanunijarra Aboriginal Corporation has asked WA Lands Minister Ben Wyatt to intervene in the transfer of the leases of the two stations to the Forrests, and a spokesperson for Wyatt says transfers of pastoral leases are subject to a public interest test if they result in the holder of the lease exceeding 500,000 hectares.

CORPORATES
YANUNIJARRA ABORIGINAL CORPORATION, WESTERN AUSTRALIA. DEPT OF LANDS

Victoria coronavirus cases climb by 177 as Daniel Andrews warns lockdown will last as long as it needs to

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Original article by
abc.net.au – Page: Online : 14-Jul-20

Victorian Premier Daniel Andrews has not ruled out reinstating stage-four coronavirus lockdown restrictions if necessary. He has stressed that people should comply with the lockdown rules if they want the current restrictions to be lifted. Victoria recorded 177 new coronavirus cases on 13 July; a total of 72 people are being treated in hospital, with 17 in intensive care, and there are 1,612 active cases in the state. Chief Health Officer Brett Sutton has welcomed the fall in the number of new cases, but he cautions that the state’s second wave of infections may not have peaked.

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

JobKeeper could send firms broke

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 14-Jul-20

The federal government will announce details of its revised JobKeeper wage subsidy scheme on 23 July, when it will also release an economic update. Council of Small Business Organisations Australia CEO Peter Strong says JobKeeper has enabled employers to retain staff. However, he warns that many businesses will need to think carefully about signing up for the revised scheme, as employees on JobKeeper are accruing entitlements such as annual leave that will have to be paid out if they are laid off. These will have to be paid from cash reserves if the company is not making a profit.

CORPORATES
COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

Super fund satisfaction down in May, but still up on a year ago as Australians withdraw up to $10,000

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Jul-20

New data from Roy Morgan’s Superannuation Satisfaction Report shows an overall super fund satisfaction rating of 63.6% in May. This is down 0.9% points on the previous month, but an increase of 2.9% points on May 2019. Compared to a year ago the largest increase by sector was for Retail Funds, which increased 2.2% points to customer satisfaction of 58.7%. Also increasing their satisfaction were Industry Funds, up 1.9% points to 64.4%, and Public Sector Funds which increased 1.6% points to 72.7%. Although Self-Managed Funds were the only sector not to record an increase, they still maintain a high overall satisfaction rating at 72.3%, down 1.9% points on a year ago. Unisuper has the highest customer satisfaction rating of the Industry Funds, ahead of CARE Super and AustralianSuper. The highest placed Retail Super Fund is Colonial First State followed by OnePath and MLC. The report’s findings are from Roy Morgan Single Source, Australia’s most trusted consumer survey, compiled by in-depth interviews with over 50,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED, UNISUPER LIMITED, CARE SUPER PTY LTD, AUSTRALIANSUPER PTY LTD, COLONIAL FIRST STATE GROUP LIMITED, ONEPATH AUSTRALIA LIMITED, MLC LIMITED