Author: roymorgansocial

ANZ-Roy Morgan Consumer Confidence ends record nine week run, down 1.3pts to 97.0

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Jun-20

ANZ-Roy Morgan Australian Consumer Confidence fell 1.3% to 97.0 in the week to 7 June, after a nine-week run of consecutive gains. Now 22% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 34% (down 2ppts) say their families are ‘worse off’ financially. Meanwhile, 37% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and 17% (unchanged) expect to be ‘worse off’ financially. Just 9% (down 1ppt) expect ‘good times’ for the Australian economy over the next 12 months, while 40% (down 2ppts) expect ‘bad times’. In addition, 37% (down 5ppts) of Australians say now is a ‘good time to buy’ major household items, while 35% (up 1ppt) say now is a ‘bad time to buy’. The four-week moving average for ‘inflation expectations’ fell 0.1ppt to 3.2%. The weekly reading remained unchanged at 3.1%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Foxtel locks in Super Rugby deal

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 11-Jun-20

Pay-TV group Foxtel will broadcast a scaled-down Super Rugby season after the traditional five-nation competition was cancelled due to the coronavirus. The revised 2020 tournament will comprise five Australian teams, which will play a 10-week round-robin series followed by a two-week finals series. Rugby Australia has yet to secure a broadcasting rights deal beyond 2020.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, RUGBY AUSTRALIA

Qld border closure irrational, discriminatory: silk

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Original article by Chris Merritt
The Australian – Page: 1 & 4 : 10-Jun-20

A Brisbane-based travel agency is the lead plaintiff in a High Court challenge to the legal validity of the Queensland government’s coronavirus-induced border closure. The six plaintiffs want the government to disclose the information it relied upon when deciding to close the state’s borders. Amongst other things, they contend that the border closure breaches their constitutional right to travel freely within Australia and goes beyond what is necessary to control the virus’s spread.

CORPORATES
HIGH COURT OF AUSTRALIA, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Iron ore exporters flag $21b tax boost from port

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Original article by Brad Thompson
The Australian Financial Review – Page: 3 : 10-Jun-20

A report produced by ACIL Allen Consulting has assessed the economic contribution of the Port Hedland export hub. It estimates that the port and its supply chain injected some $54bn into the Western Australian economy in 2019 and supported one in every 12 jobs in the state. The report forecasts that iron ore production linked to Port Hedland will top 547.5 million tonnes in 2022-23, compared with 524.9 million tonnes in 2019-20. It also estimates that increasing shipments via Port Hedland would boost government revenue from taxes and royalties by $21bn over the next decade.

CORPORATES
ACIL ALLEN CONSULTING PTY LTD, PORT HEDLAND INDUSTRY COUNCIL, PILBARA PORTS AUTHORITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD

BOOT test a hurdle for IR reform: Scott

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Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 10-Jun-20

Wesfarmers CEO Rob Scott says that Australia’s first recession in three decades requires a new approach to industrial relations. He says the ‘better off overall test’ in the Fair Work Act in particular is a hindrance to finalising enterprise bargaining agreements. He argues that employees and businesses alike benefit from EBAs if they are structured in the right way. Wesfarmers’ trading update shows that Bunnings has recorded sales growth of 11.3 per cent so far in 2019-20, while Kmart’s sales are up 6.1 per cent.

CORPORATES
WESFARMERS LIMITED – ASX WES, BUNNINGS GROUP LIMITED, KMART AUSTRALIA LIMITED

Don’t go, Beijing warns students

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Original article by Richard Ferguson, Tim Dodd
The Australian – Page: 1 & 2 : 10-Jun-20

Federal Education Minister Dan Tehan has rejected the Chinese government’s claim that Australia is not a safe destination for international students. China’s Ministry of Education has advised the nation’s students against studying in Australia, claiming that people of Asian appearance have been targeted in ‘discriminatory attacks’ during the coronavirus pandemic. Shadow education minister Tanya Plibersek has supported Tehan’s comments, stating that Australia is one of the safest countries for international students. Beijing also recently advised Chinese tourists against visiting Australia due to allegations of racist attacks.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, CHINA. MINISTRY OF EDUCATION, AUSTRALIAN LABOR PARTY

Price rises lift Port Hedland iron ore exports

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Original article by Nick Evans
The Australian – Page: Online : 9-Jun-20

Data from the Pilbara Ports Authority shows that iron ore shipments via Port Hedland rose by four per cent year-on-year in May, to 47.8 million tonnes. Australian iron ore producers benefited from a rally in the price of the steel input during May, amid a downturn in stockpiles at Chinese ports as steel mills resumed production. They will also benefit from a court-ordered closure of Vale’s Itabira mining hub due to a coronavirus outbreak. Vale has maintained its revised full-year production guidance of 310-330 million tonnes.

CORPORATES
PILBARA PORTS AUTHORITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, ATLAS IRON LIMITED, MINERAL RESOURCES LIMITED – ASX MIN, VALE SA

More jobs to go at News Corp in metro restructure

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Original article by Zoe Samios
The Age – Page: Online : 10-Jun-20

News Corp Australia has advised that plans to centralise the production and editorial operations of its metropolitan mastheads will result in job losses. The job cuts will affect staff of ‘The Daily Telegraph’ and the ‘Herald Sun’, with news content to be shared across the two newspapers. The move follows News Corp’s recent decision to discontinue the print editions of many regional and community newspapers, which affected more than 600 jobs. There will also be some job cuts at its flagship national masthead, ‘The Australian’.

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

Less gloomy Treasury flags faster recovery

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Original article by Matthew Cranston
The Australian Financial Review – Page: 4 : 10-Jun-20

Treasury secretary Steven Kennedy has told a Senate inquiry that Australia’s unemployment rate is now likely to peak at around eight per cent as the economy begins to re-open and coronavirus lockdown restrictions are eased. The Treasury had previously forecast that the impact of the pandemic would cause the jobless rate to reach 10 per cent by June. Australia’s official unemployment rate is currently 6.2 per cent. Kennedy also said the impact of the pandemic on GDP growth will also not be as severe as initially forecast.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

Protests cost economy $1bn

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Original article by Geoff Chambers, Dennis Shanahan
The Australian – Page: 1 & 4 : 10-Jun-20

The timetable for the further easing of coronavirus lockdown restrictions may be pushed back due to the recent Black Lives Matter protests across Australia. The national cabinet meeting on 12 June had been expected to approve the easing of stage two restrictions, but the Australian Health Protection Principal Committee believes that it will take up to 14 days to determine whether the protests have caused a fresh outbreak of the virus. Meanwhile, ACTU secretary Sally McManus says the potential for a second wave of infections means that lockdown restrictions must remain in place until medical professionals advise that it is safe to lift them.

CORPORATES
AUSTRALIAN HEALTH PROTECTION PRINCIPAL COMMITTEE, ACTU