Author: roymorgansocial

Wealthier Australians are less satisfied with their bank

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Nov-19

Satisfaction levels with the banking industry are related to an individual’s level of wealth, new research from Roy Morgan shows – with the wealthiest 30% of Australians less likely to be satisfied with their banking relationships (75.4%) than the middle 40% (80.1%) or the bottom 30% (84.7%). The wealth-linked difference in banking satisfaction levels has grown more extreme over time. In 2013 the satisfaction level of the wealthiest Australians was 80.8% and that of the poorest Australians was 82.8%, a gap of just 2%. This figure has more than quadrupled to 9.3%. Six years ago there was no significant difference between the satisfaction of the middle 40% and that of the wealthiest 30%, but these levels have also grown steadily apart, opening up a gap of 4.6%. These insights come from Australia’s most extensive, longest study of consumer financial behaviour. Running continuously for more than 20 years, it involves over 50,000 in-depth, face-to-face interviews in respondents’ homes each year.

CORPORATES
ROY MORGAN LIMITED

Domestic holiday intention at a two-decade low

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Nov-19

New research from Roy Morgan shows that two-in-three Australians plan to take a holiday in the next 12 months. As of September 2019, 66.2% (13,729,000) of Australians aged 14+ were intending to take a holiday in the following 12 months, compared with 67.8% (13,820,000) a year ago – a drop of 1.6% (91,000). In terms of holiday destinations, 50.6% (10,490,000) of Australians were planning on taking a domestic holiday, a decline of 2.1% (248,000) from a year ago. But the proportion of Australians intending on taking an overseas holiday remained steady at 11.2% (2,332,000). These findings have been obtained from the Roy Morgan Single Source survey, derived from in-depth face-to-face interviews with 1,000 Australians each week and around 50,000 each year.

CORPORATES
ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence down to 109.9

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Nov-19

ANZ-Roy Morgan Australian Consumer Confidence fell 1.1% to 109.9 in the week ended 17 November. Households’ views towards current financial conditions fell 2.6%, while views towards future financial conditions declined by 4.9%; both these subindices are near their multi-year lows. However, consumers’ views toward current economic conditions rose 0.3% and views towards future economic conditions gained 0.2%. The ‘time to buy a major household item’ index gained 0.4% after falling 3.9% in the previous week. The four-week moving average of inflation expectations declined by 0.1ppt to 3.9% as the weekly reading fell to 3.8%, its lowest level since the end of June.

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

With its star manager Brisbane Roar tops A-League supporters, while highly trusted W-League draws substantial audience

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Nov-19

New research shows that Brisbane Roar outdid southern rivals to top Roy Morgan’s A-League supporter ladder, with 523,000 fans. Support for the Roar is up 96,000 (+22.5 per cent) on a year ago; high-profile English star player turned manager Robbie Fowler was appointed to helm the team in April. Defending champions Sydney FC were second in fan support, on 444,000 supporters; down significantly on a year ago as delayed stadium construction leaves the club without a dedicated home ground for a second year. Melbourne Victory is again Victoria’s leading club, and third nationally in terms of support, with 413,000 fans. However, the 2018 trophy-winners Perth Glory had the largest percentage increase, adding 94,000 supporters following their first Premiership, an impressive increase of 36.2 per cent on a year ago. Other clubs to experience an increase in support include Adelaide United with 340,000 supporters (up 19.3 per cent), Melbourne City on 178,000 (up 21.9 per cent) and Central Coast Mariners on 123,000 (up 23 per cent). The increases will be welcome news for the sport’s administrators, who have dealt with dropping game attendances in recent years.

CORPORATES
ROY MORGAN LIMITED, THE A LEAGUE PTY LTD, BRISBANE ROAR FOOTBALL CLUB PTY LTD, SYDNEY FOOTBALL CLUB, MELBOURNE VICTORY FOOTBALL CLUB PTY LTD, PERTH GLORY SOCCER CLUB PTY LTD, ADELAIDE UNITED FOOTBALL CLUB PTY LTD, MELBOURNE CITY FOOTBALL CLUB PTY LTD, CENTRAL COAST MARINERS FC PTY LTD

Super funds approach double-digit returns, but Chant West urges caution

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Original article by David Rogers
The Australian – Page: 27 : 19-Nov-19

Data from Chant West shows that superannuation funds have achieved an average return of 14.3 per cent so far in 2019. The median growth fund gained 12.8 per cent in the first 10 months of the calendar year, after eking out a gain of 0.4 per cent in October. Mano Mohankumar of Chant West says the median growth fund appears to be on track to deliver a double-digit return in 2019, although he warns that the strong returns since the global financial crisis are not sustainable.

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD, SUPERRATINGS PTY LTD

$25k gap shows gender pay parity a distant dream

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Original article by Stephen Lunn
The Australian – Page: 2 : 19-Nov-19

New data from the Workplace Gender Equality Agency shows that the gender pay gap has narrowed by 0.5 per cent in 2019, to 20.8 per cent. Meanwhile, the agency’s latest gender equality scorecard shows that more than 50 per cent of employers have yet to introduce employer-funded paid parental leave, while the proportion of female CEOs remains unchanged at 17.1 per cent. However, WGEA director Libby Lyons notes that more employers are now offering paid domestic violence leave.

CORPORATES
AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY

There’s no point in homing in on pension asset test

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Original article by Judith Sloan
The Australian – Page: 12 : 19-Nov-19

No government for the foreseeable future is going to contemplate including a family home in the age pension assets test. For one thing, only about seven per cent of the nation’s two million age pensioners would be affected if homes valued at more than $1.5m were to be subject to the assets test. This would mainly affected pensioners in Sydney and Melbourne. Meanwhile, home equity release products are worth considering in relation to retirement incomes policy, although existing products of this nature are undesirable, including the federal government’s own Pension Loan Scheme.

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ABC budgets $23m for underpaid staff

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Original article by Lilly Vitorovich
The Australian – Page: 3 : 19-Nov-19

The ABC has declined to comment on the likely cost of recompensing casual staff who were underpaid, but insiders claim that at least one employee will receive more than $60,000. The public broadcaster’s latest annual report indicated that it has allocated $22.98m for compensating casual workers who have been underpaid for up to six years, but a spokesman says the final figure is likely to be less than this.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, COMMUNITY AND PUBLIC SECTOR UNION, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE

Saracen bets $1.1b on gold mine

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Original article by Peter Ker, Brad Thompson
The Australian Financial Review – Page: 16 : 19-Nov-19

Saracen Mineral Holdings MD Raleigh Finlayson believes that gold production at Kalgoorlie’s Superpit will continue for many years, noting that much of the mineralisation to the south of the mine has yet to be explored. Saracen will fund its $1.1bn acquisition of Barrick Gold’s 50 per cent stake in the mine via a $796m capital raising and a $450m debt facility. The gold price was trading at around $US1,467 an ounce on 18 November.

CORPORATES
SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION, VAN ECK ASSOCIATES CORPORATION, WROXBY PTY LTD

Keating’s blast on China policy

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Original article by Andrew White, Greg Brown
The Australian – Page: 1 & 7 : 19-Nov-19

Former prime minister Paul Keating has used a speech in Sydney to criticise the federal government’s handling of Australia’s relationship with China. He said it is in the national interest to not ignore the "biggest shift in economic power in world history". Meanwhile, Treasurer Josh Frydenberg told the conference that a collective effort will be needed to restore the rules-based global trading system. He also expressed optimism that the US and China can reach agreement on resolving their trade war.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNIVERSITY OF NEW SOUTH WALES, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, CHINA CONSTRUCTION BANK, COMMUNIST PARTY (CHINA)