Author: roymorgansocial

SA businesses back Labor over climate summit

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Original article by Ryan Cropp
The Australian Financial Review – Page: 11 : 15-Apr-25

Australia and Turkey are competing to host the COP31 climate summit in 2026, with a decision set to be made in coming months. Prime Minister Anthony Albanese has publicly backed the South Australian government’s push for Adelaide to be the host city. Premier Peter Malinauskas says COP31 would give his state a major economic boost, and the SA Business Chamber’s CEO Andrew Kay says its members support the government’s bid. However, the federal Coalition intends to withdraw Australia’s bid for COP31 if it wins the election on 3 May; Opposition Leader Peter Dutton recently contended that hosting the event is not appropriate during a cost-of-living crisis.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF AUSTRALIA

Roy Morgan Poll: ALP increases election-winning two-party preferred lead to 54.5% cf. 45.5% L-NP – as President Donald Trump sparks market upheaval and Coalition backflips on Federal Public Servants working from home

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Apr-25

If a Federal Election were held now the ALP would be returned to Government with an increased majority with the ALP on 54.5% (up 1% point from a week ago) ahead of the L-NP Coalition on 45.5% (down 1%) on a two-party preferred basis, the latest Roy Morgan survey finds. In a good sign for the Albanese Government, Roy Morgan Government Confidence increased 5pts to 86 – its highest since September 2023. Primary support for the major parties was little changed with the Coalition up 0.5% to 33.5% and the ALP down 0.5% to 32%. Importantly for the Government, support for the Greens was up 1% to 14.5%, One Nation was at 6%, Other Parties down 2% to 4% and Independents up 1% to 10%.

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

De Grey takeover looms as gold soars

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Original article by Brad Thompson
The Australian – Page: 16 : 15-Apr-25

Northern Star Resources’ shares reached a record high of $21.49 on Monday after a key shareholder of takeover target De Grey Mining backed the deal. Gold Road Resources advised that it will vote in favour of Northern Star’s bid at a meeting of De Grey shareholders on Wednesday; Gold Road has a 17.3 per cent stake in De Grey. Northern Star’s all-scrip bid was worth $5bn when it was launched in late 2024, but a surge in the price of gold and gold stocks has seen the value of the offer rise to $6.1bn. Gold Road Resource recently rejected a takeover approach from South Africa-based Gold Fields, which is its partner in the Gruyere gold mine.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, DE GREY MINING LIMITED – ASX DEG, GOLD ROAD RESOURCES LIMITED – ASX GOR, GOLD FIELDS LIMITED

Coalition scores just 1/100 points for environment and climate policies from conservation organisation

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Original article by Petra Stock
The Guardian Australia – Page: Online : 15-Apr-25

The Greens have performed best in the Australian Conservation Foundation’s pre-election scorecard, receiving a rating of 98 per cent for its environment and climate change policies. The federal government in turn has been given a rating of 54 per cent, with ACF CEO Kelly O’Shanassy praising policies such as its commitment to renewable energy and a continued ban on nuclear power; however, she says Labor was marked down over policies such as environmental protection laws and approvals for new coal and gas projects. Meanwhile, O’Shanassy says the Coalition has "failed every single test", resulting in a rating of just one per cent.

CORPORATES
AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

US sees biggest drop in Australian visitors since Covid as travellers avoid Trump’s America

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Original article by Elias Visontay, Nick Evershed
The Guardian Australia – Page: Online : 15-Apr-25

Figures from the US International Trade Administration reveal the number of visitors from Australia in March was down by 7% when compared to March 2024, making it the biggest decline since March 2021, when overseas travel was being impacted by the pandemic. Tourism Economics stated on Friday that the Trump administration was having a negative impact on international travellers in terms of the US as a place to visit, due to "heightened border security measures and visible immigration enforcement actions".

CORPORATES
UNITED STATES. INTERNATIONAL TRADE ADMINISTRATION, TOURISM ECONOMICS

China’s rare earths move highlights need for stockpile

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Original article by Brad Thompson
The Australian Financial Review – Page: 16 : 15-Apr-25

Resources Minister Madeleine King says the federal government will reveal more details regarding its proposed strategic reserve of critical minerals prior to the election on 3 May. King adds that China’s decision to impose export controls on rare earths such as dysprosium and terbium has underlined the federal government’s decision to establish a strategic reserve. King says the export restrictions are concerning but not surprising, given that China has imposed similar bans in the past. The latest export restrictions were in response to the Trump administration’s reciprocal tariffs regime, but are not limited to the US.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

Taylor vows costings will beat Labor’s

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 15-Apr-25

Shadow treasurer Angus Taylor says the Coalition will not adopt Labor’s policy that would involve an optional $1,000 tax deduction for work-related expenses, which is slated to cost $2.4 billion over four years. Taylor says this is because the Coalition’s election spending promises that aim to ease cost-of-living measures are temporary ones, whereas he says Labor is focused on recurrent spending, and that the Coalition’s costings will result in a stronger bottom line than under Labor because of their temporary nature. His comments were echoed by Opposition Leader Peter Dutton on Monday, who likened the Coalition’s temporary measures to the government assistance that was issued during the pandemic.

CORPORATES
AUSTRALIAN LABOR PARTY

Goldman Sachs boss says chances of US recession have increased after Trump tariffs

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Original article by Kalyeena Makortoff
The Guardian – Page: Online : 15-Apr-25

Goldman Sachs CEO David Solomon has told analysts during an earnings call to discuss its first quarter results that the bank thinks Donald Trump’s tariffs have increased the chances of a US recession. He said that the growing uncertainty over the fallout of US tariffs was making it harder for Goldman Sachs’ clients to make important business decisions, and that an escalation in the trade war poses "material risks" for US and global growth. Goldman Sachs’ first quarter results saw it record a pre-tax profit of $US5.6 billion, up eight per cent

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Barnett: secret Chevron deal never meant to cover iron ore

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Original article by Brad Thompson
The Australian – Page: 13 & 16 : 15-Apr-25

US energy giant Chevron could potentially gain up to $1bn from an infrastructure levy via a confidential deal with the Western Australian government. Mineral Resources is challenging a decision to impose the levy for exporting iron ore via the Chevron-built Port of Ashburton and a shipping channel that was dredged as part of its Wheatstone LNG project. Chevron subsequently transferred ownership of the port and shipping channel to the government, but retained the right to receive a levy for their use. Former WA premier Colin Barnett says Chevron is entitled to such revenue, but he contends that the figures being mooted are excessive because nobody had expected iron ore to be shipped from Ashburton.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, CHEVRON CORPORATION

Australia does not have enough tradies to fulfill Labor’s housing promise, experts say

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Original article by Luca Ittimani
The Guardian Australia – Page: Online : 15-Apr-25

About 170,000 new homes are currently built nationwide every year, but Labor aims to lift this to 250,000 annually for the next four years it wins the federal election on 3 May. However, the Housing Industry Association’s chief economist Tim Reardon contends that labour constraints within the construction industry means that the nation currently has the capacity to build 200,000 to 220,000 new homes each year. The HIA estimates that an additional 80,000 tradespeople are required nationwide. Reardon notes that many ‘tradies’ are opting to move to industries such as mining, while many school leavers are rejecting a career in the construction sector.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY