Author: roymorgansocial

No pain, big gain: partnership sends Mesoblast shares soaring

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Original article by Damon Kitney
The Australian – Page: 21 : 11-Sep-19

Shares in Melbourne-based stem cell developer Mesoblast rose by over 22 per cent on 10 September after it announced details of a strategic partnership with German drug company Grunenthal. The partnership will see the two companies work to develop and commercialise a cell therapy to threat severe lower back pain, with Mesoblast receiving up to $US150 million ($218.56 million) in upfront and milestone payments prior to the launch of any product developed under the partnership. Billionaire Alex Waislitz, who is one of Mesoblast’s investors, suggests the global potential for a non-opiate product for treating lower back pain could be worth "many billions of dollars" each year.

CORPORATES
MESOBLAST LIMITED – ASX MSB, GRUNENTHAL GMBH

ABC chair Ita Buttrose calls for press freedom campaign

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Original article by Lilly Vitorovich
The Australian – Page: Online : 11-Sep-19

ABC chairwoman Ita Buttrose says that the media’s ability to report on corruption or maladministration should not be viewed as a threat to national security. Buttrose has told the New South Wales Council for Civil Liberties annual dinner on 10 September that the media needs the backing of the general community to ensure it can do its job properly. The ABC, Nine Entertainment and News Corp Australia have been lobbying the government to amend legislation that impacts the work of journalists, following recent AFP raids on the ABC’s Sydney headquarters and the home of a News Corp Australia journalist.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NEW SOUTH WALES COUNCIL FOR CIVIL LIBERTIES, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORP AUSTRALIA PTY LTD

ANZ-Roy Morgan Consumer Confidence falls to 113.3

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Sep-19

ANZ-Roy Morgan Australian Consumer Confidence fell 1% to 113.3 in the week ending 8 September. The fall was accentuated by a sharp decline of 7.1% in the ‘Time to buy a major household item’ sub-index. Current finances fell by 1.2%, the second decline in a row, while future finances gained 1.7%. Both the indices are well above their long term averages. Australians are still wary of the economic outlook, considering both the subindices are below their long terms averages. Inflation expectations were stable at 4% on the four-week moving average.

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

Future of New Hope’s Acland mine expansion unclear

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Original article by Mark Ludlow
The Australian Financial Review – Page: 20 : 11-Sep-19

The Queensland Court of Appeal has thrown out an appeal by the Oakey Coal Action Alliance to stop the $900 million third stage expansion of New Hope’s New Acland mine. The mine is due to close in 2020, but the proposed expansion would allow it to operate until 2031, as well as boosting yearly output from around 4.6 million tonnes to 7.6 million tonnes. However, despite the Court’s decision, the future of the expansion is still unclear, with the Court yet to make its final orders on the matter.

CORPORATES
NEW HOPE CORPORATION LIMITED – ASX NHC, OAKEY COAL ACTION ALLIANCE, COURT OF APPEAL (QUEENSLAND)

Youth mental health impacted by social media, religious beliefs, living arrangements and team sport

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Sep-19

Recent research from Roy Morgan showed the increase in the number of Australians suffering from Mental Health conditions over the past decade (79 year olds have the best mental health – August 19, 2019). Further analysis reveals not only the major growth areas, but what other characteristics that Australians with mental health issues have. Amongst all mental health conditions, the big three are anxiety, depression and stress. Looking across the age groups, all three peak amongst 18-24 year olds. Stress is the most prevalent of mental health issues, the fastest growing condition is anxiety. This is particularly true of our young people, with 22% of 14-17 year olds now reporting that they suffer from anxiety (compared to just 6% nine years ago) and almost one third of 18-24 year olds suffering from anxiety (32%, compared to only 11% back in 2011). These results are derived from detailed in-depth personal interviews in the homes of over 50,000 Australians each year as part of the Roy Morgan Single Source survey.

CORPORATES
ROY MORGAN LIMITED

Promised $800 pensioner bonus delivered to less than 1 per cent of seniors

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Original article by Samantha Maiden
The New Daily – Page: Online : 10-Sep-19

Newspaper reports in June suggested that one million pensioners would receive a $800 cash bonus under the federal government’s changes to deeming rates. However, Social Security documents released under freedom of information laws indicate that single pensioners will get an average payment of just $249, while couples will receive an average payment of just $156. The documents indicate less than one per cent of the one million pensioners who benefit from the deeming rate changes will receive the full $800.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES

Mirvac, Stockland and Frasers eye Maribyrnong defence site

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 39 : 10-Sep-19

The federal government launched a campaign in October 2018 aimed at selling off the 127-hectare Maribyrnong Defence Site, located around 10 kilometres from the Melbourne CBD. Industry observers have stated the site could sell for as much as $500 million if there are no contamination issues with it. A masterplan for the site’s development is due to be released in October, while Stockland, Mirvac and Frasers Property Australia are understood to be three of the eight groups that have been shortlisted as possible purchasers of the site.

CORPORATES
MIRVAC GROUP – ASX MGR STOCKLAND – ASX SGP FRASERS PROPERTY AUSTRALIA PTY LTD

Farmer to hook world on kingfish

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Original article by Samantha Bailey
The Australian – Page: 19 : 10-Sep-19

Seafood producer Clean Seas released its results for fiscal 2019 on 9 September, reporting a net profit of $1.45 million, down 57 per cent. Revenue rose by 11 per cent to $46.15 million, while EBITDA was up 23 per cent to $5.9 million on an underlying basis. Clean Seas farmed 3,500 tonnes of yellowtail kingfish in the reporting period, and advised it was aiming to increase annual production of yellowtail kingfish to around 6,000 tonnes by 2025.

CORPORATES
CLEAN SEAS SEAFOOD LIMITED – ASX CSS

Labor’s election policies destined for the scrap heap

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 10-Sep-19

Labor leader Anthony Albanese has backed calls by Labor front bencher Mark Butler for a rigorous review of the policies that it took to the last election. Butler said on 9 September that the review should be "ruthless and unsparing", and that nothing should be considered sacrosanct. Although Labor’s review of its election defeat is not due to be finished until later in 2019, there are growing signs that it intends to abandon the ‘tax and spend’ agenda that it took to the election. Albanese says its new agenda would be based around job creation and economic growth.

CORPORATES
AUSTRALIAN LABOR PARTY

Big four in ASIC sights over audits

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Original article by Michael Roddan
The Australian – Page: 1 & 2 : 10-Sep-19

Confidential audit inspection reports obtained under freedom of information laws reveal the Australian Securities & Investments Commission’s concern about the quality of audits being undertaken by the major accounting firms. ASIC has been trying to restore investor faith in the quality of financial reports over the past year, due to concerns that a decline in the quality of auditing could contribute to damaging company collapses. The release of the reports comes as the major accounting firms face parliamentary scrutiny over a range of issues, including poor quality audits and conflicts of interest

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION MYER HOLDINGS LIMITED – ASX MYR SEVEN WEST MEDIA LIMITED – ASX SWM ORICA LIMITED – ASX ORI GENWORTH MORTGAGE INSURANCE AUSTRALIA LIMITED – ASX GMA PRICEWATERHOUSECOOPERS ERNST AND YOUNG KPMG AUSTRALIA PTY LTD DELOITTE TOUCHE TOHMATSU LIMITED