Author: roymorgansocial

Low internet service provider customer satisfaction provides opportunities for innovative offerings

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jun-20

Customer satisfaction with internet service providers as a whole averages only 75%. That puts it at number 24 out of the 32 industries for which Roy Morgan continuously takes this measure. Within that overall result there are marked differences between individual ISP scores. One of the strategies used by Australia’s major telecommunication companies to capture a larger share of the overall market is to have multiple brands targeting specific demographics. These different brands get very different results. Telstra, easily the largest internet service provider in Australia, offers a perfect example, with its Telstra ISP brand trailing far behind its discount subsidiary brand Belong for customer satisfaction. Australia’s second-largest internet service provider, TPG encompasses several Internet subsidiary brands, including iiNet, Internode and Westnet. All have been good performers, with Internode winning the Annual Roy Morgan Customer Satisfaction Award for 2019 and both TPG and iiNet scoring above average in the most recent monthly results. In contrast, the country’s third-largest ISP, Optus, has the lowest customer satisfaction of the leading brands and was the only major provider to lose customers over the last year.

CORPORATES
ROY MORGAN LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, BELONG PTY LTD, TPG TELECOM LIMITED – ASX TPM, IINET LIMITED, INTERNODE SYSTEMS PTY LTD, WESTNET PTY LTD, SINGTEL OPTUS PTY LTD

ANZ-Roy Morgan Consumer Confidence increases for ninth straight week, up 5.6pts to 98.3

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jun-20

ANZ-Roy Morgan Australian Consumer Confidence rose 6% to 98.3 in the week to 31 May. The nine-week run is the most extended run of consecutive gains since the index changed to a weekly format in 2008. Now 24% (up 1ppt) of Australians say their families are ‘better off’ financially than this time last year, while 36% (unchanged) say their families are ‘worse off’ financially. Meanwhile, 38% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, and 17% (also unchanged) expect to be ‘worse off’ financially. However, just 10% (up 4ppts) expect ‘good times’ for the Australian economy over the next 12 months, while 42% (down 6ppts) expect ‘bad times’. In addition, 42% (up 7ppts) of Australians say now is a ‘good time to buy’ major household items, while 34% (down 4ppts) say now is a ‘bad time to buy’. The four-week moving average for ‘inflation expectations’ remained unchanged at 3.3%. The weekly reading decreased to 3.1% from 3.2%.

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

Government concedes flaws but refuses to apologise for its unlawful Robodebt program

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Original article by
abc.net au – Page: Online : 1-Jun-20

The federal government announced on 29 May that it would refund $721 million in debts that it extracted from people through its controversial Robodebt scheme. Over 370,000 people were impacted by the scheme, with some receiving multiple notices. Attorney-General Christian Porter has refused to apologise to people who received notices under the scheme, although he concedes that civilly, it was unlawful. Despite the government’s refund decision, a class action against the scheme will continue.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT

Plea to save media jobs in the regions

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Original article by Max Mason
The Australian Financial Review – Page: 2 : 30-May-20

Regional media companies such as WIN Corporation and Australian Community Media have lobbied the federal government to further relax cross-media ownership laws. Concerns about the future of the regional media sector have been heightened by News Corp Australia’s decision to axe 36 regional and community newspapers and shift 76 titles to digital-only editions. The move will also result in the loss of hundreds of jobs. Further job cuts in the regional media are possible when the JobKeeper wage subsidy scheme ends in September.

CORPORATES
WIN CORPORATION PTY LTD, AUSTRALIAN COMMUNITY MEDIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS

Unions reject calls to halt wage increase

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Original article by Greg Brown
The Australian – Page: 6 : 1-Jun-20

The Australian Industry Group is against any increase in the minimum wage in 2020, with CEO Innes Willox noting it is the first time in 30 years that it has completely opposed a rise. Willox says increasing the minimum wage is not in anyone’s interest, and if the Fair Work Commission does decide to do so it should be delayed until January 2021. Unions are seeking a $30-per-week increase in the minimum wage, while the Shop, Distributive & ­Allied Employees’ Association states that there should be a freeze on planned cuts to penalty rates if the FWC does not award an increase in the minimum wage.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. FAIR WORK COMMISSION, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION

Nine budget cuts slam shut 60 Minutes chequebook

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Original article by Leo Shanahan
The Australian – Page: 19 : 1-Jun-20

Nine Entertainment Company is believed to have ceased the controversial practice of paid interviews, as part of broader budget cuts at its flagship ’60 Minutes’ current affairs program. Former ’60 Minutes’ reporter Ray Martin says he hated so-called "chequebook journalism" when he was at the ABC, but he came to accept that it was necessary after joining the Nine Network. Nine is also believed to have reduced the staff and travel budget of ’60 Minutes’.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN BROADCASTING CORPORATION

ATO to probe claims of $11m JobKeeper rort

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Original article by John Kehoe
The Australian Financial Review – Page: 4 : 1-Jun-20

Bedding company Australian Comfort Group is alleged to have deliberately depressed monthly revenue in order to become eligible for up to $11 million in wage subsidies under the JobKeeper scheme. The Australian Taxation Office will investigate the allegations. The Australian Comfort Group has claimed that the person who has made the allegations was only with the company for a short period of time and has now lodged a claim under the Fair Work Act that includes compensation of $200,000. The company contends that any investigation of its eligibility to claim the JobKeeper payment "will stand up to scrutiny".

CORPORATES
AUSTRALIAN COMFORT GROUP PTY LTD, AUSTRALIAN TAXATION OFFICE

Australia could avoid technical recession fate

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Original article by William McInnes
The Australian Financial Review – Page: 21 : 1-Jun-20

Most economists expect GDP data to be released on 3 June will show that the Australian economy contracted in the March quarter. However, five of the 24 economists polled by Bloomberg believe that Australia recorded positive GDP growth for the period, despite the impact of summer bushfires and the coronavirus pandemic. Phil Odonaghoe of Deutsche Bank expects the economy to avoid a technical recession, although David Plank of the ANZ Bank contends that this is moot given that nearly 20 per cent of Australians are unemployed or underemployed.

CORPORATES
BLOOMBERG LP, DEUTSCHE BANK AG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Treasurers at odds over call to abolish payroll tax

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Original article by Sumeyya Ilanbey
The Age – Page: Online : 1-Jun-20

Federal Treasurer Josh Frydenberg says he is keen to work with the states and territories to help reduce the payroll tax burden on companies. Frydenberg says he would "love the states" to get rid of the tax, but Victorian Treasurer Tim Pallas has rejected any likelihood that the state will do so. Payroll tax generated $6.2 billion for the Victorian government in the 2018-19 financial year, and Pallas says abolishing it would reduce the government’s ability to fund services and infrastructure projects.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, VICTORIA. DEPT OF TREASURY AND FINANCE

Fortescue facing massive compo bill

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Original article by Brad Thompson
The Australian Financial Review – Page: 3 : 30-May-20

The High Court has rejected Fortescue Metals Group’s bid to overturn a previous Federal Court ruling in favour of the Yindjibarndi Aboriginal Corporation. The case centred on the traditional owners’ native title claim over some 2,700 sq km of land in Western Australia’s Pilbara region; the land in question contains Fortescue’s Solomon iron ore mining hub. The YAC is now expected to seek compensation from Fortescue; this is likely to comprise a percentage of Fortescue’s revenue from iron ore mining in WA.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, YINDJIBARNDI ABORIGINAL CORPORATION, HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA