Author: roymorgansocial

Energy split as Lib says zero target too tough

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Original article by Greg Brown, Elias Visontay
The Australian – Page: 4 : 11-Feb-20

More than 80 countries have committed to a target of net-zero carbon emissions by 2050, and some members of the Liberal Party’s moderate faction believe that Australia should also adopt this target. However, moderate Liberal Jason Falinski doubts that Australia could achieve this target, given that it is a major energy and agriculture exporter. Conservative Liberal senator Eric Abetz also questions the viability of a 2050 zero emissions target. There is also dissension within the Coalition’s ranks with regard to taxpayer funding for new coal-fired power stations.

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LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Nat rebels humiliate leader

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Original article by Geoff Chambers, Greg Brown
The Australian – Page: 1 & 4 : 11-Feb-20

Former National Party MP Llew O’Brien has been elected deputy speaker of the House of Representatives. O’Brien quit the party following Barnaby Joyce’s failed leadership challenge, although he remains a member of the Liberal-National Party of Queensland; he has also given assurances that he will support the government’s legislative agenda. Meanwhile, O’Brien has revealed that he opposed a plan by Nationals leader Michael McCormack to hold a partyroom meeting in regional Victoria during Melbourne’s 2019 spring racing carnival. Chief whip Damian Drum was McCormack’s choice as deputy speaker.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Australia prepares to extend China travel ban due to coronavirus

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Original article by Eryk Bagshaw
The Age – Page: Online : 11-Feb-20

The federal government’s 14-day travel ban on non-citizens entering Australia from the Chinese mainland will expire on 15 February, and sources have indicated that it is likely to be extended. The move will prevent about 56 per cent of the Chinese students at Australian universities from arriving in time for the start of the academic year. Meanwhile, more than 100 Australian citizens and permanent residents are still in Hubei province, but the government has no plans for a third evacuation flight.

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Over six million Australians endure allergies, colds and flu without using medication

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

The latest health and wellbeing data from Roy Morgan shows that 67.6% of Australians aged 14+ (more than 14 million people) experience allergies/cold and flu in an average 12 months. This comprises 64.1% of men and 70.9% of women. The 14-17 age group has the highest proportion of sufferers (75.3%), followed by 35-49 (72.8%), 18-34 (72.5%) before a gap to older Australians aged 50-64 (65.1%) and 65+ (53.9%). The data also shows that 57.0% of Australians are now taking medication to alleviate these conditions, compared with 47.4% in 2012. The findings are drawn from the Roy Morgan Single Source survey, compiled from in-depth face-to-face interviews with over 1,000 Australians each week in their homes.

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ROY MORGAN LIMITED

Jokowi deal to absorb shocks: PM

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Original article by Simon Benson
The Australian – Page: 1 & 5 : 10-Feb-20

Indonesian President Joko Widodo will address a joint sitting of federal parliament on 10 February, as part of his official visit to Australia. Joko and Prime Minister Scott Morrison will use the visit to announce a 100-day action plan to implement a free-trade agreement, which was recently ratified by the Indonesian parliament. Morrison says the coronavirus outbreak demonstrates the need for Australia to reduce its reliance on China for trade, adding that Indonesia will play a key role in Australia’s push into the Indo-Pacific region.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Australia will take new emissions reduction target to Glasgow climate summit

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Original article by Rob Harris
The Age – Page: Online : 10-Feb-20

Energy Minister Angus Taylor says the federal government will develop a new long-term carbon emissions reduction strategy ahead of the United Nations climate summit in November. He has stressed that the government is of the view that new technologies rather than taxes are the key to reducing carbon emissions. However, the government has declined to commit to a target of net zero emissions by 2050. Meanwhile, independent MP Zali Steggall plans to introduce a private member’s bill to establish an independent Climate Change Commission.

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AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Seven warning as rugby rights deal in balance

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Original article by Leo Shanahan
The Australian – Page: 23 : 10-Feb-20

Super Rugby matches are exclusively shown on Foxtel under Rugby Australia’s current broadcasting deal. With Foxtel having chosen not to renew its deal, RA is believed to be want at least one Super Rugby match to be shown on free-to-air TV under its next rights deal. However, factors such as low ratings for rugby matches and a crowded sports schedule may deter interest from commercial networks. Meanwhile, Seven West Media CEO James Warburton says sporting bodies need to deliver "incremental revenue and growth opportunities" for their broadcast partners.

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RUGBY AUSTRALIA, FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, SINGTEL OPTUS PTY LTD

Cyclone hits Pilbara iron ore mines

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Original article by Peter Ker
The Australian Financial Review – Page: 4 : 10-Feb-20

Tropical Cyclone Damien has been downgraded to category 1 status after crossing the coast of Western Australia. Iron ore mines in the Pilbara are bracing for heavy rain, with the airport that services Fortescue Metals Group’s Solomon mining hub having received more than 200 millimetres of rain in just 24 hours. Rio Tinto’s iron ore ports at Dampier remained closed on 9 February, although Port Hedland reopened on the previous day.

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FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP

Outdated tax gives LNG away for free

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Original article by Patrick Commins
The Australian – Page: 4 : 10-Feb-20

Treasurer Josh Frydenberg has downplayed speculation that the federal government will make changes to the Petroleum Resources Rent Tax. However, Jason Ward from the Centre for International Corporate Tax Accountability & Research says changes to the PRRT are needed as it was originally designed for the oil industry, and Australia’s booming LNG industry means the tax is no longer "fit for purpose". The nation is now the world’s biggest exporter of LNG.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CENTRE FOR INTERNATIONAL CORPORATE TAX ACCOUNTABILITY AND RESEARCH, AUSTRALIAN LABOR PARTY

CBA under pressure to deliver perfect result

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Original article by James Frost, James Thomson
The Australian Financial Review – Page: 15 : 10-Feb-20

The consensus of analysts polled by Bloomberg is for the Commonwealth Bank of Australia to post a 2019-20 interim cash profit of $4.34bn. This compares with $4.68bn for the first half of 2018-19. The bank’s share price has gained 10 per cent in the last three months, leaving the stock vulnerable to a pullback if investors are disappointed by the interim result. Most analysts do not expect CBA to announce a special dividend or a share buyback.

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COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BLOOMBERG LP