Author: roymorgansocial

Turnbull told he was losing quiet Australians

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Original article by Aaron Patrick
The Australian Financial Review – Page: 1 & 4 : 15-Nov-19

Former prime minister Malcolm Turnbull was advised to change his political strategy by Angus Taylor after the Coalition almost lost the 2016 election. Taylor sent Turnbull a confidential memo in the wake of the election, but Turnbull never acknowledged it. Taylor eventually became so frustrated with Turnbull that he became one of the ministers who quit on him, with their actions leading to Turnbull being replaced by Scott Morrison. Taylor’s revelations are contained in a new book ‘The Surprise Party, How the Coalition Went from Chaos to Comeback’; his underlying message to Turnbull in his memo was that Turnbull was losing the ‘quiet Australians’.

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

Sweden dumps Oz bonds over climate inertia

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Original article by Paul Garvey
The Australian – Page: 4 : 15-Nov-19

Shane Oliver of AMP Capital says the Swedish central bank’s decision to divest bonds issued by the Western Australian and Queensland government is unlikely to have much impact on Australian bond prices. Sveriges Riksbank deputy governor­ Martin Floden has cited Australia’s lack of sufficient action on climate change for the move. The central bank has sold its holdings of bonds issued by the Canadian province of Alberta for the same reason.

CORPORATES
SVERIGES RIKSBANK, AMP CAPITAL INVESTORS LIMITED, INVESTOR GROUP ON CLIMATE CHANGE, S&P GLOBAL RATINGS, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE

Albanese to dodge unions’ walkout

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Original article by Ewin Hannan, John Ferguson
The Australian – Page: 1 & 8 : 15-Nov-19

Labor leader Anthony Albanese has refuted claims that he will not attend the party’s Victorian state conference on 16-17 November because unions planned to stage a mass walkout when he gave the keynote speech. Albanese says the decision was made several months ago, while Deputy Leader Richard Marles will be at the conference but has declined to deliver the keynote speech. The proposed walkout by unions that are aligned with Labor’s Left faction is primarily in response to the party’s support for free-trade agreements with Indonesia, Hong Kong and Peru.

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AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, VICTORIA. DEPT OF PREMIER AND CABINET

BHP’s new CEO Mike Henry vows to accelerate productivity push

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Original article by Nick Toscano, Colin Kruger
Brisbane Times – Page: Online : 14-Nov-19

BHP CEO Andrew Mackenzie will step down at the end of 2019 after more than six years in the role. He will be succeeded by mining industry veteran Mike Henry, who will receive a base salary of $US1.7m ($2.5m). Henry, who has been the head of BHP’s Australian minerals division since 2016, says he will spend the next 45 days holding meetings with BHP staff across its global operations. Henry was regarded as a leading internal candidate to succeed Mackenzie.

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BHP GROUP LIMITED – ASX BHP

Regulate digital platforms: Seven

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Original article by Zoe Samios
The Australian – Page: 19 : 14-Nov-19

Seven West Media expects the metropolitan TV market to record single-digit growth in advertising revenue in 2019-20. CEO James Warburton has told the group’s annual meeting that the advertising market is likely to remain weak during the December quarter, noting that Seven’s revenue share was 39 per cent in the first quarter. Meanwhile, chairman Kerry Stokes has called for greater regulation of digital giants such as Google and Facebook, including the implementation of all recommendations arising from the Australian Competition & Consumer Commission’s inquiry into digital platforms.

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SEVEN WEST MEDIA LIMITED – ASX SWM, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, PRIME MEDIA GROUP LIMITED – ASX PRT, PACIFIC MAGAZINES PTY LTD, REDWAVE MEDIA LIMITED

Coalition flags press freedom law changes

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Original article by Rosie Lewis, Olivia Caisley
The Australian – Page: 6 : 14-Nov-19

Attorney-General Christian Porter and Communications Minister Paul Fletcher met with media industry executives to discuss the issue of press freedom on 13 November. News Corp Australasia’s executive chairman Michael Miller says the talks were "encouraging", and further meetings will be held after the parliamentary joint committee on intelligence and security hands down its report at the end of the month. Nine Entertainment CEO Hugh Marks and ABC MD David Anderson also attended the meeting.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN BROADCASTING CORPORATION

Union-buster bill faces delay

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Original article by Ewin Hannan
The Australian – Page: 6 : 14-Nov-19

The federal government is likely to put the Ensuring Integrity Bill on hold until the Senate resumes later in the month unless it secures a deal with crossbenchers on 14 November. Independent senator Jacqui Lambie and One Nation leader Pauline Hanson have reservations about the proposed demerit points system. Meanwhile, the Construction, Forestry, Maritime, Mining & Energy Union has been fined $38,000 for unlawful industrial action at a building site in Melbourne in April 2015. Two CFMMEU officials have in turn been fined $12,500 in total.

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ONE NATION PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, CENTRE ALLIANCE, ACTU, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Rio workers exposed to toxic gas

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Original article by Nick Evans
The Australian – Page: 17 & 20 : 14-Nov-19

Rio Tinto was issued with a prohibition notice on 21 October, after workers at the Tom Price iron ore hub in the Pilbara were exposed to a toxic gas in September. Western Australia’s Department of Mines, Industry Regulation & Safety ordered the temporary closure of the open pit and required Rio Tinto to improve monitoring systems and safety procedures at the site. Rio Tinto has taken remedial action and advised that the incident will not affect its 2019 output from the Pilbara. Production at the Tom Price hub began in 1966.

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RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. DEPT OF MINES, INDUSTRY REGULATION AND SAFETY

Soft growth in wages points to sluggish economy

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Original article by
The Australian – Page: 27 : 14-Nov-19

Official data shows that wages grew by 0.5 per cent in seasonally adjusted terms in the September quarter, and by 2.2 per cent year-on-year. This compares with growth of 0.6 per cent in the June quarter and 2.3 per cent in the year to June. Wages in the public sector increased by 2.5 per cent in the year to September, while private sector wages increased by 2.2 per cent. Sarah Hunter of BIS Oxford Economics says that given the state of the economy, a significant uptick in wages is unlikely in the near-term.

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AUSTRALIAN BUREAU OF STATISTICS, BIS OXFORD ECONOMICS PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, INDEED INCORPORATED

‘We won’t be shy’: Company bosses could face Senate probe into wage theft

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Original article by David Crowe, Rob Harris
The Age – Page: Online : 14-Nov-19

The Senate’s economics references committee will undertake an inquiry into the issue of wage and superannuation theft. Labor put forward the motion to hold an inquiry in response to recent wage underpayment scandals, although the federal government opposed it. Liberal senator Jonathon Duniam says the Coalition is taking action on the issue, and another ‘talkfest’ is not necessary. Shadow industrial relations minister Tony Burke has described the inquiry as a "win" for Australian workers.

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AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, WOOLWORTHS GROUP LIMITED – ASX WOW, 7-ELEVEN STORES PTY LTD, CENTRE ALLIANCE, AUSTRALIA. FAIR WORK OMBUDSMAN