Author: roymorgansocial

Mobile banking apps linked to high customer satisfaction

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Oct-19

New research by Roy Morgan shows that satisfaction levels for mobile banking users was 90.3% in September 2019, ahead of interactions via internet banking (89.0%), branches (86.4%), a personal banker/advisor (78.9%) and phone banking (80.4%). Mobile banking is now used by 45.9% of Australians aged 14+ in an average four-week period, compared to only 20.6% who use branches. Customers of all four of the major banks have higher satisfaction with mobile banking compared to those using branches. Internet banking users also have higher satisfaction than those using branches. These are some of the latest findings from Roy Morgan’s ‘Service Satisfaction Report-Consumer Banking Market September 2019’. This report is based on data collected from Roy Morgan’s Single Source survey, which involves in-depth interviews conducted face-to-face with over 50,000 consumers each year in their homes. The results presented here are from interviews conducted in the six months to September 2019.

CORPORATES
ROY MORGAN LIMITED

China launches $10b push for Oakajee iron ore

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Original article by Peter Ker
The Australian Financial Review – Page: 3 & 22 : 21-Oct-19

Sinosteel has acquired Mitsubishi’s interests in the long-stalled $9.7 billion Oakajee port and rail project in Western Australia. Sinosteel’s $2 billion Weld Range iron ore project was to be a customer of the Oakejee project, but cost blowouts saw proposed port tariffs increased, leading Sinosteel to conclude that Weld Range would not be viable, and it stopped work on Weld Range in June 2011. Sinosteel’s acquisition of Mitsubishi’s stake in the Oakajee project has sparked hopes that it could be revived, and that a new iron ore export province in WA can be created.

CORPORATES
SINOSTEEL CORPORATION, MITSUBISHI CORPORATION, FORTESCUE METALS GROUP LIMITED – ASX FMG

United front in fight for freedom

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Original article by Leo Shanahan
The Australian – Page: 2 : 21-Oct-19

The Australian media industry has ramped up its Your Right to Know campaign. Some of the nation’s major newspapers will replace their front pages on 21 October with an advertisement featuring blacked-out content and the question: ‘When the government hides the truth from you, what are they covering up?’. The move is part of the industry’s push to safeguard freedom of the press in the wake of police raids on the home of a News Corp journalist and the ABC’s Sydney offices.

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

Home owners and renters take different views on the level of future inflation

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Oct-19

Surveyed in September, Australians as a whole said they expected inflation to increase by 4% annually over the next two years. This is up very slightly (0.1%) on how they were feeling the previous month, but it is down a little (0.3%) on their expectations a year earlier. However there was a notable difference in the expectations of home owners compared to renters, with the latter taking a much more pessimistic outlook. Renters expect inflation to rise 4.7% over the next two years, while home owners expect inflation of 3.8% and those paying off mortgages are expecting only a 3.4% rise. September Inflation Expectations are based on personal interviews with a nationally representative sample of 4,012 Australians aged 14+. October survey responses will reveal the effect of the RBA’s decision to cut interest rates earlier this month, the third such cut this year, taking them to a record low of 0.75%.

CORPORATES
ROY MORGAN LIMITED, RESERVE BANK OF AUSTRALIA

ATO seeks to bankrupt Huang Xiangmo

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 3 : 18-Oct-19

The Australian Taxation Office is seeking to have Chinese billionaire Huang Xiangmo declared bankrupt. Huang, who is at the centre of a New South Wales corruption investigation into political donations, is said to owe the ATO some $140.9m in tax; it will seek to take legal action in Hong Kong as part of its efforts to recover the money. Huang’s Australian residence visa was cancelled in December, and his lawyers claim that he cannot be the subject of a bankruptcy order as the ATO would need to show that he is "personally present or ordinarily present in Australia".

CORPORATES
AUSTRALIAN TAXATION OFFICE, FEDERAL COURT OF AUSTRALIA

‘You will pay’: unions threaten Labor over trade

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Original article by Ewin Hannan, Rosie Lewis
The Australian – Page: 1 & 4 : 18-Oct-19

Labor has attracted criticism from union leaders after the party’s caucus voted to support the federal government’s proposed free-trade agreements with Indonesia, Hong Kong and Peru. Construction, Forestry, Maritime, Mining & Energy Union national secretary Michael O’Connor says the decision will cause ongoing tensions between sections of the union movement and Labor. Unions’ concerns about the trade deals include the clauses regarding investor-state dispute settlement clauses and labour market testing provisions.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, ELECTRICAL TRADES UNION

Racing industry punting on renewed interest with The Everest

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Original article by Roy Morgan
Market Research Update – Page: Online : 18-Oct-19

New research from Roy Morgan shows that just over 5.2 million Australians aged 14+ (25%) now watch horse racing on TV, a drop of nearly 700,000 since 2015. Almost 5.1 million Australians watch the Melbourne Cup race broadcast, and 98% of Australians who watch any type of horse racing on TV watch the Melbourne Cup. The addition of Australia’s richest turf race, The Everest, to the racing calendar in 2017 has attracted a significant audience (over 750,000), but has yet to reverse the overall decline in TV viewership. Analysis shows that a third of Australians who still watch horse racing on TV are aged 65+, and less than a fifth are under 35. The gender split is fairly even, although men slightly outnumber women. These are the latest findings from the Roy Morgan Single Source survey, derived from in-depth face-to-face interviews with over 50,000 Australians each year in their homes.

CORPORATES
ROY MORGAN LIMITED

Clock ticking on South32 manganese smelter jobs

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Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 18-Oct-19

Diversified miner South32 has reported that production at its Illawarra metallurgical coal mines increased by 30 per cent quarter-on-quarter in the three months to September, while manganese ore production rose by 10 per cent. South32 has also advised that it is continuing to review the TEMCO manganese alloy smelter in Tasmania, and it will further update the market in the March 2020 quarter. Closure of the smelter would result in the loss of about 250 jobs; other options include selling or mothballing the facility.

CORPORATES
SOUTH32 LIMITED – ASX S32, TASMANIAN ELECTRO METALLURGICAL COMPANY PTY LTD

Rate cuts to go on despite jobless drop

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Original article by Michael Roddan
The Australian Financial Review – Page: 2 : 18-Oct-19

Official data shows that Australia’s unemployment rate fell from 5.3 per cent to 5.2 per cent in September, after the participation rate eased to 66.1 per cent. The economy added 14,700 jobs during the month, with a 26,200-strong increase in full-time jobs being offset by the loss of 11,400 part-time positions. Westpac economist Simon Murray expects the small fall in the jobless rate to be temporary, adding that it will give the Reserve Bank more time to assess the state of the economy before taking any further action on interest rates. The official underemployment rate is currently 8.3 per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS

Building slump to hit whole economy

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Original article by Michael Roddan, Elias Visontay
The Australian – Page: 1 & 2 : 18-Oct-19

The Reserve Bank’s deputy governor Guy Debelle has told an industry conference in Sydney that a forecast slump in dwelling investment could reduce GDP growth by one per cent. The Master Builders Association’s chief economist Shane Garrett has called on the federal government to take steps to bring about an end to the current housing downturn as soon as possible, while ­Opposition Leader Anthony Albanese says Prime Minister Scott Morrison has no plans for stimulating the economy.

CORPORATES
RESERVE BANK OF AUSTRALIA, MASTER BUILDERS’ ASSOCIATION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET