Author: roymorgansocial

Caution urged after euphoric stock recovery

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Original article by David Rogers
The Australian – Page: 26 : 7-Feb-20

Global sharemarkets have rebounded quickly from a sharp fall in response to the coronavirus, with Wall Street reaching a new high and the Australian bourse approaching its record peak. However, equity strategists have warned that the rally may not be sustained; they note that it has been driven by factors such as indications that the coronavirus’s spread may be slowing and the recent move by the People’s Bank of China to increase market liquidity.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, NASDAQ COMPOSITE INDEX, PEOPLE’S BANK OF CHINA

BHP in box seat to buy troubled Peabody mine

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Original article by Peter Ker
The Australian Financial Review – Page: 23 : 7-Feb-20

Peabody Energy is seeking a buyer for its North Goonyella coking coal mine in Queensland, and it has signalled that it is open to a joint venture arrangement. BHP is seen as a potential buyer of the mine, given that it owns nearby assets such as the Goonyella Riverside mine and the undeveloped Red Hill project. Production at North Goonyella has been on hold since part of the mine was damaged by a fire in 2018.

CORPORATES
PEABODY ENERGY CORPORATION, PEABODY ENERGY AUSTRALIA COAL PTY LTD, BHP GROUP LIMITED – ASX BHP

First full year since Nine purchase of Fairfax sees audience increases for SMH, The Age and Australian Financial Review

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-Feb-20

Roy Morgan has released the latest readership results for Australian newspapers, for the 12 months to December 2019. Now 15.5 million Australians aged 14+ (74.6%) read or access newspapers in an average seven-day period via print or online; this audience increases to 16.6 million (79.7%) when one considers news portals such as news.com.au and the Huffington Post. The standout performer over the past year is again ‘The Australian Financial Review’, which increased its total cross-platform readership by 14.1 per cent to 1,642,000; this was driven by a substantial increase in its digital audience (up 19.9 per cent to 1,402,000). ‘The Sydney Morning Herald’ is still Australia’s most widely-read masthead, with a cross-platform audience of 4,303,000, which is up 4.1 per cent on a year ago. Meanwhile, ‘Good Weekend’ remains Australia’s most widely-read newspaper inserted magazine, with print readership of 819,000 (down 21.6 per cent over the last year). These are the latest findings from the Roy Morgan Single Source survey of 50,422 Australians aged 14+ in the 12 months to December 2019.

CORPORATES
ROY MORGAN LIMITED

Darwin next stop for China evacuees

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Original article by Amos Aikman, Ben Packham
The Australian – Page: 7 : 7-Feb-20

The global death toll from the coronavirus has risen to 563, and more than 28,000 people have been diagnosed with the respiratory illness, including 15 in Australia. Meanwhile, the federal government is looking at using Inpex’s former workers’ camp near Darwin to quarantine people returning from China. It is part of a contingency plan in the event that the Christmas Island facility reaches capacity. Some 273 Australian citizens and permanent residents who have been evacuated from Wuhan are currently in quarantine on Christmas Island.

CORPORATES
INPEX CORPORATION, AUSTRALIA. DEPT OF HOME AFFAIRS

Senate to investigate key figures in sports rorts

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Original article by Rob Harris
The Sydney Morning Herald – Page: Online : 6-Feb-20

The Senate has passed Labor’s motion to hold an inquiry into the so-called sports rorts scandal. Amongst other things, the probe will seek the release of a report into the affair by top bureaucrat Phil Gaetjens. It cleared former cabinet minister Bridget McKenzie of any wrongdoing over the allocation of sports grants, but found that she had breach ministerial standards over her failure to declare her membership of a shooting club that received a grant. Shadow sports minister Don Farrell says McKenzie’s former staffers may want to appear before the inquiry.

CORPORATES
AUSTRALIAN LABOR PARTY

Bank concerns don’t apply to us: super funds

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Original article by James Frost
The Australian Financial Review – Page: 13 & 16 : 6-Feb-20

The Association of Superannuation Funds of Australia has questioned the need to expand the Banking Executive Accountability Regime to include super funds and insurers. ASFA CEO Martin Fahy describes the proposal as an ‘overkill’, and he argues that the super industry is already subject to tough regulation. He adds that the proposal will discourage product innovation and affect funds’ returns. Australian Banking Association CEO Anna Bligh has expressed support for extending the regime beyond the bank sector.

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIAN BANKING ASSOCIATION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

RBA optimism boosts dollar

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Original article by David Rogers
The Australian – Page: 17 & 27 : 6-Feb-20

The odds of an official interest rate cut in the near-term have lengthened, with financial market pricing now implying that rates will be on hold until September. Meanwhile, the Australian dollar rebounded from its recent four-month low in response to a speech by Reserve Bank governor Philip Lowe on 5 February. He said the bushfires will have little impact on Australia’s overall economic growth in 2020, due to expenditure on recovery programs. However, he conceded that GDP growth will fall in the short-term. Lowe added that it is too soon to determine the likely economic impact of the coronavirus.

CORPORATES
RESERVE BANK OF AUSTRALIA

Fire inquiry accepts climate link: Morrison

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 6-Feb-20

Prime Minister Scott Morrison has advised that former defence force chief Mark Binskin will head the federal government’s bushfires royal commission. Morrison says the inquiry will proceed on the basis that climate change is real and contributed to the scale and severity of the bushfires. National Party leader Michael McCormack says that while human activity has contributed to climate change, it is the role of scientists to determine the extent of this. Home Affairs Minister Peter Dutton in turn has pointed to arson as one of the causes of the bushfires.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF HOME AFFAIRS

Greens want coal levy to fund more paid firefighters

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Original article by Judith Ireland
The Sydney Morning Herald – Page: Online : 6-Feb-20

Greens leader Adam Bandt has proposed the introduction of a levy on coal, gas and oil producers. The levy would be priced at $1 per tonne of carbon dioxide and would raise about $1.5bn a year. Most of the proceeds would be used to hire nearly 16,000 additional paid firefighters in metropolitan and rural areas. Bandt says the nation’s firefighters are exhausted by the intensity and duration of the bushfire season. The Australia Institute also called for a levy on fossil fuel producers in late 2019, as part of its proposal for a National Climate Disaster Fund.

CORPORATES
AUSTRALIAN GREENS, THE AUSTRALIA INSTITUTE LIMITED

Reporters’ data targeted

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Original article by Tamsin Rose
Herald Sun – Page: 8 : 6-Feb-20

A Department of Home Affairs report shows that Australian Federal Police officers were granted six warrants to access the telephone data of journalists during 2018-19. This is three times more than in the previous financial year. The warrants also allowed the AFP to access 20 historical data sets containing information about the journalists’ calls, texts and emails. Government agencies were also issued with 3,561 interception warrants in 2018-19. The AFP came under scrutiny in 2019 over a series of media raids.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN FEDERAL POLICE