Author: roymorgansocial

Construction companies in NSW collapsing at record rate as building slowdown bites

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Original article by Nick Sas
abc.net au – Page: Online : 27-Sep-19

One hundred and sixty nine New South Wales-based construction companies went under in the June quarter, the most since the September 2015 quarter. This is according to ASIC figures, with the number of NSW construction companies that collapsed in 2018-19 being 101 up on the previous financial year. Industry experts suggest the increase in company failures is a reflection of the slowdown in the NSW housing and apartment sector, with Association of Independent Insolvency Practitioners president Stephen Hathway saying there is little doubt the industry is "stressed".

CORPORATES
ASSOCIATION OF INSOLVENCY PRACTITIONERS

Fighting furies from Tigerland take on the Mighty Giants

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Sep-19

This weekend’s AFL Grand Final pits traditional Victorian powerhouse Richmond against the GWS Giants, a club that only entered the competition in 2012. Roy Morgan’s latest AFL supporter data shows the Tigers clearly have the edge in support over the Giants, with over 450,000 supporters set to cheer on the ‘Yellow and Black’ on 28 September, compared to the Giants’ supporter base of just 190,000. A look at the supporters of the two clubs shows Richmond have a more even gender split than GWS, while both clubs have managed to attract young supporters; however, Richmond does better when it comes to attracting supporters over the age of 50. These are the latest findings from Roy Morgan’s Single Source survey, which is based on in-depth personal interviews conducted face-to-face with over 50,000 Australians each year in their own homes.

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ROY MORGAN LIMITED AUSTRALIAN FOOTBALL LEAGUE

Stavely’s copper discovery multiplies family court settlement

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Original article by Peter Ker
The Australian Financial Review – Page: 2 : 27-Sep-19

Shares in Stavely Minerals rose to as high as $0.93 on 26 September after it reported it had made a highly promising copper discovery near the Victorian town of Dunkeld. Its shares ended up closing at $0.86, compared to a close of just $0.24 on 25 September. Stavely’s discoveries were made at depths of less than 100 metres, with shallow discoveries seen as more valuable than deeper ones because they are cheaper to mine. Stavely’s announcement came a few weeks after it was disclosed the Family Court had directed Stavely founder and MD Chris Cairns to give away six million of his shares in the company.

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STAVELY MINERALS LIMITED – ASX SVY

Market Forces maintains the rage against Rio Tinto

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Original article by Brad Thompson
The Australian Financial Review – Page: Online : 27-Sep-19

Activist investor group Market Forces is still planning to target Rio Tinto with a shareholder resolution that would require it to set targets for reducing emissions for customers if successful. Such emissions are known as Scope 3 emissions. Market Forces had been planning to hit BHP with a similar resolution, but backed away from doing so after BHP stated it would act on scope 3 emissions created by its customers when using coal and iron ore to make steel. Market Forces’ intentions regarding Rio Tinto come despite Rio and Chinese steel maker Baowu Steel Group unveiling a joint commitment to cut greenhouse gas emissions.

CORPORATES
MARKET FORCES RIO TINTO LIMITED – ASX RIO BHP GROUP LIMITED – ASX BHP BAOWU STEEL GROUP

Setka forks out $40k of members’ funds on ad

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Original article by Ewin Hannan
The Australian – Page: 5 : 26-Sep-19

Embattled Construction, Forestry, Maritime, Mining & Energy Union official John Setka has criticised senator Jacqui Lambie in a full-page advertisement in the ‘Herald Sun’. Lambie has signalled that she will support the federal government’s Ensuring Integrity Bill unless Setka steps down as Victorian secretary of the CFMMEU. Setka has accused her of attempting to blackmail himself and the union’s members. A spokesman for Setka says the ad was "union business", so it was funded by the CFMMEU rather than Setka.

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CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Activists call for blanket cap on Qld LNG exports

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 26-Sep-19

The Australia Institute and the Lock The Gate Alliance are among the activist groups that have urged the federal governance to impose a cap on Queensland’s LNG exports. They contend that such a cap would put downward pressure on domestic gas prices. Another option that has been advocated by some activists is to amend the Australian Domestic Gas Security Mechanism to include a price trigger. The federal government is reviewing the ADGSM, which has not been utilised to date.

CORPORATES
THE AUSTRALIA INSTITUTE LIMITED, LOCK THE GATE ALLIANCE INCORPORATED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, ENERGY USERS ASSOCIATION OF AUSTRALIA, ORIGIN ENERGY LIMITED – ASX ORG, AGL ENERGY LIMITED – ASX AGL, ESSO AUSTRALIA PTY LTD, BHP GROUP LIMITED – ASX BHP, REMAPAK PTY LTD, CLAYPAVE PTY LTD

Nine: Tech giants must share revenue

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 26-Sep-19

Google and Facebook account for the bulk of digital advertising revenue in Australia, and other players collectively receive just $0.29 of every dollar spent. Nine Entertainment Company has called for a "fair" revenue sharing arrangement between the digital giants and content producers, and it argues that a proposed new division within the Australian Competition & Consumer Commission should be responsible for ensuring that commercial contracts are fair to both parties.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

RBA boss blasts CEO salaries after Qantas boss Alan Joyce’s wage revealed

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Original article by James Hall
News.com.au – Page: Online : 26-Sep-19

Reserve Bank of Australia governor Philip Lowe has criticised the large salaries of the nation’s top business executives at a time of low wages growth. Lowe argues that CEOs should not be rewarded with performance-based incentives merely for doing their job, while he says ordinary Australians should receive a wage increase of at least three per cent. His comments follow revelations that Qantas CEO Alan Joyce received total remuneration of almost $24m in fiscal 2018. Lowe himself receives a base salary of $903,000.

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RESERVE BANK OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN

Brickworks backs union clampdown

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 10 : 26-Sep-19

Brickworks executive Wladyslaw Kluktewicz has expressed support for the federal government’s Ensuring Integrity Bill. He has told a Senate inquiry that the proposed legislation is necessary to address the issue of "rogue" union officials who visit non-unionised workplaces and attempt to hold meetings with workers. Michael Wright, the Electrical Trades Union’s national assistant secretary, also appeared before the inquiry.

CORPORATES
BRICKWORKS LIMITED – ASX BKW, ELECTRICAL TRADES UNION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Rio Tinto teams with China to cut emissions

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Original article by Brad Thompson
The Australian Financial Review – Page: 15 & 20 : 26-Sep-19

Rio Tinto has signed a memorandum of understanding with China Baowu Steel Group and Tsinghua University to develop strategies aimed at reducing carbon emissions across the steel industry. Steel-making accounts for the bulk of Rio Tinto’s scope 3 emissions, which totalled 536 million tonnes of carbon dioxide equivalent gases in 2018. In contrast, its scope 1 and 2 emissions totalled 28.6 million tonnes. BHP also recently revealed plans to address its scope 3 emissions.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CHINA BAOWU STEEL GROUP CORPORATION LIMITED, TSINGHUA UNIVERSITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, MARKET FORCES, FRIENDS OF THE EARTH