Author: roymorgansocial

Virus may rank among worst

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Original article by Natasha Robinson
The Australian – Page: 7 : 13-Feb-20

The death toll from the coronavirus in mainland China has risen to 1,113, and more than 44,000 people across the nation have been diagnosed with the respiratory illness. Meanwhile, epidemiologists at the Imperial College London have estimated that the new virus will kill one per cent of people who contract it. In contrast, World Health Organization figures show that seasonal influenza kills about 0.13 per cent of sufferers. Professor Neil Ferguson of the Imperial College says the coronavirus may prove to be as bad as the major influenza pandemics of the 20th century

CORPORATES
IMPERIAL COLLEGE, WORLD HEALTH ORGANIZATION

Foxtel reshuffles senior executive team as it resets its operating model

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Original article by Lilly Vitorovich
The Australian – Page: Online : 13-Feb-20

Foxtel has promoted Les Wigan to the role of executive director of operations and technology, with responsibility for technology platforms, services and operations across the pay-TV group’s operations. Wigan is currently chief operating officer at Foxtel’s Kayo Sports streaming service. Meanwhile, Foxtel’s director of customer service Lesley Portwain will take on the newly-created role of chief customer service officer. The management reshuffle was prompted by the resignation of chief operations officer Euan Smith.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS

Shortage of housing to hit big cities

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Original article by Michael Bleby
The Australian Financial Review – Page: 31 & 34 : 13-Feb-20

A new report from Charter Keck Cramer has warned that the recent slowdown in apartment developments means that Sydney, Melbourne and Brisbane will face a housing supply shortage by the end of 2021. Dwelling approvals across Australia fell by 18.5 per cent in calendar 2018, to the lowest level since 2012; all three east coast cities recorded a decline in apartment developments for the year. Rob Burgess of Charter Keck Cramer says the looming housing shortage will put upward pressure on rents.

CORPORATES
CHARTER KECK CRAMER

Vale confirms drop in iron ore exports

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Original article by Peter Ker
The Australian Financial Review – Page: 16 : 13-Feb-20

Brazilian iron ore miner Vale now expects output of 63-68 million tonnes in the March quarter, compared with previous guidance of 68-73 million tonnes. The production downgrade has been attributed to factors such as heavy rains, while Vale says its revised forecast does not take into account any impact of the coronavirus. Vale’s problems may bolster demand for Australian iron ore; the sector’s exports volumes are forecast to reach a record $84bn in 2019-20, despite the recent disruption caused by Tropical Cyclone Damien.

CORPORATES
VALE SA, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD

Kayo streaming service kicks off deal for Telstra customers

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Original article by David Swan
The Australian – Page: 24 : 12-Feb-20

Telstra has secured an exclusive deal to provide its customers with discounted access to Foxtel’s Kayo Sports streaming service. New and returning Kayo subscribers who are Telstra customers will be eligible to receive a monthly discount of $10 on its basic and premium packages for 12 months. Kayo boasted 350,000 subscribers at the end of December. Telstra is the minority shareholder in Foxtel, which is controlled by News Corp.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Housing boom to lift economy

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Original article by Patrick Commins
The Australian – Page: 1 & 7 : 12-Feb-20

Data from the Australian Bureau of Statistics shows that there was 4.4 per cent growth in new home loan approvals in December. This was the biggest monthly increase since September 2016, and well above economists’ expectations of 1.6 per cent growth. Mortgage approvals increased by 14 per cent year-on-year. Factors such as the three official interest rate cuts in 2019 and a relaxation of lending restrictions in April have contributed to increased demand for home loans, with owner-occupiers accounting for much of the growth.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Court unplugs Crown casino probe powers

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Original article by Deborah Cornwall
The Australian – Page: 6 : 12-Feb-20

The New South Wales NSW Independent Liquor & Gaming Authority is slated to commence its inquiry into Crown Resorts’ casino operations on 24 February. However, the Supreme Court has ruled that the inquiry does not have the powers of a royal commission. Lawrence Ho’s Melco Resorts had argued that the ILGA lacked the power to order it to surrender nine documents, and that doing would constitute a breach of legal professional privilege.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, MELCO RESORTS AND ENTERTAINMENT LIMITED, NEW SOUTH WALES. INDEPENDENT LIQUOR AND GAMING AUTHORITY, SUPREME COURT OF NEW SOUTH WALES

ANZ-Roy Morgan Consumer Confidence down a touch to 107.8

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Feb-20

ANZ-Roy Morgan Australian Consumer Confidence fell 0.6% to 107.8 in the week ended 9 February. Current financial conditions fell 3%, while future financial conditions rose 3.8%. In a similar pattern, the 4.1% fall in current economic conditions did not quite offset the 5.3% rise in future economic conditions. The ‘Time to buy a major household item’ subindex fell 5%, to its lowest level since mid- December. The four-week moving average of inflation expectations was unchanged at 4.1%.

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

Westpac lifeline for virus-plagued customers

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Original article by Glenda Korporaal
The Australian – Page: 19 : 12-Feb-20

Westpac has revealed details of its support package for businesses that have been impacted by the coronavirus. Amongst other things, it will allow business loan repayments to be deferred for up to three months, while businesses will also be able to extend their loans for up to three months. Westpac offered similar relief to bushfire victims. Businesses across the economy have been impacted by the virus outbreak, including tourism operators and fresh food exporters.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC

When it comes to compensation payouts, NAB’s $204m leads the pack

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Original article by Richard Gluyas
The Australian – Page: 19 : 12-Feb-20

Data from the Australian Securities & Investments Commission shows that National Australia Bank customers have now received $203.8m in compensation for poor financial advice and services that were not provided. The Commonwealth Bank in turn has paid out $174.2m, ahead of AMP ($167.2m), Westpac ($106.4m), the ANZ Bank ($95.6m) and Macquarie Group ($2.6m).

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AMP LIMITED – ASX AMP, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE GROUP LIMITED – ASX MQG