Author: roymorgansocial

ABC staff push for climate group

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Original article by Leo Shanahan
The Australian – Page: 23 : 18-Nov-19

A number of ABC presenters and journalists have expressed support for a proposal to establish a ‘climate crisis advisory group’ for the public broadcaster’s staff. Melbourne-based producer and presenter Barbara Heggen put forward the proposal in a recent email to colleagues, in which she stated that the group’s aim would be to report on the climate crisis using a ‘solutions journalism approach’. However, the proposal may be at odds with the ABC’s editorial guidelines.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, RACING NSW

Mixed messages on Prime-Seven merger

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Original article by Zoe Samios
The Australian – Page: 25 : 18-Nov-19

An independent expert’s report from Lonergan Edwards & Associates has backed Seven West Media’s takeover bid for regional affiliate Prime Media Group. The firm has concluded that the deal is ‘not fair but reasonable’, noting that Prime shareholders would gain exposure to a much larger and more diverse media company. Lonergan adds that the deal is in the best interests of Prime shareholders in the absence of a better offer. Seven estimates that the merger will generate annual cost synergies of about $11m.

CORPORATES
SEVEN WENTWORTH, PRIME MEDIA GROUP LIMITED – ASX PRT, LONERGAN EDWARDS AND ASSOCIATES LIMITED, WIN CORPORATION PTY LTD

Code of conduct needed for market failure: Sims

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Original article by Max Mason
The Australian Financial Review – Page: 31 : 18-Nov-19

Australian Competition & Consumer Commission chairman Rod Sims has stressed the need for technology giants such as Google and Facebook to be subject to a code of conduct in their negotiations with traditional media companies. He has identified this as the most important recommendation arising from the ACCC’s inquiry into digital platforms. He notes that technology companies have made some progress in reducing the imbalance in bargaining power, adding that a code would facilitate this process.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, SKY NEWS, JUNKEE MEDIA PTY LTD, PEDESTRIAN TV, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Privacy, ads focus of reply to report

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Original article by Leo Shanahan
The Australian – Page: 25 : 18-Nov-19

The federal government was slated to release its response to the Australian Competition & Consumer Commission’s inquiry into digital platforms by the end of 2019. However, Treasurer Josh Frydenberg has indicated that this could be delayed until early 2020, noting that the government is "working through the details" of the ACCC’s final report. He has identified digital players’ dominance of advertising revenue and how they collect and monetise users’ data as key concerns.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

NAB, ANZ to be grilled over wealth exits

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Original article by Aleks Vickovich
The Australian Financial Review – Page: 20 : 15-Nov-19

A federal parliamentary committee is examining the financial services sector’s response to the Hayne royal commission. ANZ Bank CEO Shayne Elliott and National Australia Bank chairman and acting CEO Philip Chronican will appear before the committee on 15 November. Shadow assistant treasurer Andrew Leigh, who is the committee’s deputy chairman, says he is concerned about the amount of time the two banks are taking to divest their wealth management units; he says the general public expects the divestments to proceed.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Protect media freedom to protect the community

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Original article by Chris Merritt
The Australian – Page: 24 : 15-Nov-19

Law Council of Australia president Arthur Moses will use a speech on 15 November to urge the federal government to take action on the issue of media freedom. In addition to calling for better protection for journalists, Moses will argue the need for more safeguards for whistleblowers in the public service. Moses will contend that journalists need greater protection due to the important role they play in protecting the community from government abuse and misinformation.

CORPORATES
LAW COUNCIL OF AUSTRALIA, HOLDING REDLICH, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION, SKY NEWS, AUSTRALIAN FEDERAL POLICE

Lion to go to next level green in beer brewing

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Original article by Elouise Fowler
The Australian Financial Review – Page: 32 : 15-Nov-19

Australian brewer Lion has announced that it intends to become carbon neutral by 2020. Lion’s current efforts in this area include solar panels on its Geelong and Brisbane breweries, while the latter collects the biogas emitted from the beer fermentation process to use as fuel to power some of the plant’s steam boilers. Lion announced its carbon neutral target ahead of the 15 November launch of Climate Active, which is the re-branded name of the federal government’s carbon neutral certification project.

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LION PTY LTD

ABC cruelty story breached code

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Original article by Lilly Vitorovich
The Australian – Page: 3 : 15-Nov-19

Racing New South Wales chairman Russell Balding claims that the ABC’s recent story on the horse racing industry breached a number of its editorial guidelines. Balding, who was MD of the ABC from 2002 to 2006, has written a letter of complaint to ABC MD David Anderson about the program, claiming that it contained a number of ‘significant factual inaccuracies and misrepresentations’. Once the ABC has responded to the letter, Racing NSW will be able to lodge a complaint with the Australian Communications & Media Authority.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, RACING NSW, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Reserve finds silver lining in household debt cloud

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Original article by Cliona O’Dowd
The Australian – Page: 27 : 15-Nov-19

Australia’s household debt-to-income ratio is now about 190 per cent, compared with around 70 per cent in the early 1990s. However, the Reserve Bank’s assistant governor Michele Bullock notes that households that are in the top 40 per cent of income distribution account for three quarters of household debt. Bullock adds that while there has also been an increase in mortgage loan arrears, it is largely confined to several states. She also says negative housing equity is generally not a major concern unless somebody becomes unemployed and must sell their home.

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RESERVE BANK OF AUSTRALIA

Adani Ports chief bullish on future of Australian coal

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Original article by Matthew Cranston
The Australian Financial Review – Page: 9 : 15-Nov-19

Adani Port’s CEO Karan Adani says its port operations will be carbon neutral by 2025. Adani’s controversial Carmichael coal mine in Queensland is due to commence shipping 200,000 tonnes of coal a week to India in 2021. India is tipped to overtake China as the largest importer of coal in the mid 2020s. Karan Adani views climate change as an important issue, but he notes that millions of Indians are still burning kerosene and wood. Coal remains the least expensive and most reliable source of electricity in India, while the nation’s former power secretary Ram Vinay Shahi notes that 300 million Indians do not have a reliable source of energy.

CORPORATES
ADANI PORTS, ADANI MINING PTY LTD