Author: roymorgansocial

Ten scraps Rove’s new show after two weeks

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Original article by Lilly Vitorovich
The Australian – Page: 23 : 9-Sep-19

Beverley McGarvey has defended the axing of ‘Saturday Night Rove’ after it was on air for just two weeks. McGarvey, who is Ten Network’s chief programming officer, says the program, which was hosted by three-time Gold Logie winner Rove McManus, had not been able to attract a decent audience. McGarvey notes that Saturday night is a very challenging timeslot, and that there were a number of factors that had led Ten to decide that audience figures for ‘Saturday Night Rove’ were unlikely to improve.

CORPORATES
TEN NETWORK HOLDINGS LIMITED

Lynas may build processing, waste storage site on BHP’s doorstep

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Original article by Brad Thompson
The Australian Financial Review – Page: Online : 7-Sep-19

Lynas Corporation has signed a memorandum of understanding with the City of Kalgoorlie-Boulder regarding sites for a rare earths cracking and leaching plant. Lynas must build and have the plant up and running within four years, so as to continue conducting part of its rare earths processing in Malaysia. The MOU provides Lynas with exclusivity on two sites, including one adjacent to BHP’s nickel smelter. The cracking and leaching plant is tipped to cost around $500 million to construct.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, BHP GROUP LIMITED – ASX BHP

Gas find off Victoria lifts hopes for supply from late 2021

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: Online : 7-Sep-19

Cooper Energy and Mitsui have reported a new gas find off the coast of Victoria, with the Annie-1 discovery being located near to an existing gas plant and pipeline. Cooper Energy MD David Maxwell indicated that drilling results indicated a discovery in line with expectations before the well was drilled, which suggests a ‘best estimate’ of 70.5 billion cubic feet, and possibly as much as 137 bcf. Supply from Annie-1 could commence as soon as late 2021.

CORPORATES
COOPER ENERGY LIMITED – ASX COE, MITSUI AND COMPANY (AUSTRALIA) LIMITED

Clearance rates show a market in turnaround

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 6 : 9-Sep-19

Data from Corelogic reveals that Sydney recorded a preliminary auction clearance rate of 83.1 per cent on 7 September, while Melbourne recorded a preliminary clearance rate of 76.6 per cent. As in previous weeks, the number of homes listed for sale was over 20 per cent down in both cities when compared to the same time in 2018. Meanwhile, QBE’s latest Housing Outlook indicates that Sydney house prices will rise around 1.2 per cent in the year to June 2020, while Melbourne’s prices will be generally flat.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, QBE INSURANCE GROUP LIMITED – ASX QBE

Women more likely to use Buy-Now-Pay-Later services

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Sep-19

New research from Roy Morgan shows that women are significantly more likely to use buy-now-pay-later payment services such as Afterpay, Zip Pay or Zip Money than men. Over one-in-ten women (11.6%) report using a buy-now-pay-later service in the last year, compared to only 5.5% of men. In addition to greater user of buy-now-pay-later services, women are also more likely to use the more traditional Bill Payment Services such as BPAY and Post Billpay with nearly three-fifths of women (59.1%) using a Bill Payment Service in the last year compared to 55.8% of men. However, men are more likely than women to use other digital payment services, including Online Payment Platforms such as PayPal and Other Contactless/Cardless Mobile Payments services such as Apple Pay. These are some of the findings from the newly released Roy Morgan ‘Digital Payment Solutions Currency Report’ June 2019. The data in this latest report is from Roy Morgan’s Single Source survey which is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes.

CORPORATES
ROY MORGAN LIMITED, AFTERPAY TOUCH GROUP LIMITED – ASX APT, ZIP PAY, ZIP CO LIMITED – ASX Z1P

Ombudsman warning over unfair clauses

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Original article by James Eyers
The Australian Financial Review – Page: 21 : 6-Sep-19

Small business ombudsman Kate Cornell suggests that around 50 per cent of all ‘standard form contracts’ offered to small businesses by service providers outside the banking sector could contain clauses that deemed to be unfair. Carnell says that some of the worst offenders in this regard include companies in the advertising and rubbish removal sectors. She has called on companies that may have unfair terms in their contracts to remove them, as to avoid being sued. Bendigo & Adelaide Bank and the Bank of Queensland are being sued by the Australian Securities & Investments Commission.

CORPORATES
AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, BANK OF QUEENSLAND LIMITED – ASX BOQ, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Our income recession is over

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Original article by Matthew Cranston
The Australian Financial Review – Page: 7 : 6-Sep-19

New data shows that real disposable income per capita increased by one per cent in the June quarter and by 2.7 per cent in the year to June. Real disposable income per capita has risen in four consecutive quarters and it is now $59,258, compared with the OECD average of $44,845. Chris Richardson of Deloitte Access Economics says the growth in income per capita may not be sustained, given that the iron ore price has retreated from its recent highs.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, INDUSTRY SUPER AUSTRALIA PTY LTD, JP MORGAN AUSTRALIA LIMITED, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, KPMG AUSTRALIA PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, KPMG AUSTRALIA PTY LTD

Fears for Aussie miners in growing terror hot spots

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Original article by Brad Thompson
The Australian Financial Review – Page: 23 : 6-Sep-19

Resolute Mining MD John Welborn agrees with Defence Minister Linda Reynolds that there are increased terrorism risks for Australian mining companies operating in West Africa. Reynolds was while speaking at the Africa Downunder mining conference in Perth. Resolute has mines in Mali, Senegal and Ghana, and Wellborn says the terrorism risk is getting worse, particularly in Mali where its main operations are located. Wellborn also contends that China is "stealing the march" on the US and Australia when it comes to investing in Africa.

CORPORATES
RESOLUTE MINING LIMITED – ASX RSG, AUSTRALIA. DEPT OF DEFENCE

Cbus’ climate change quotas queried

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Original article by Joanna Mather
The Australian Financial Review – Page: 8 : 6-Sep-19

Construction industry superannuation fund Cbus will allocate one per cent of its $52 billion worth of funds under management to climate change initiatives. Its decision has been queried by Senator James Paterson, who said that establishing quotas seems like a bad idea; Paterson is the chair of the Parliamentary Joint Committee on Corporations and Financial Services. Scott Donald, the director of the Centre for Law, Markets & Regulation at the University of New South Wales, says Cbus is not violating any laws by making such a decision.

CORPORATES
CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, AUSTRALIA. JOINT COMMITTEE ON CORPORATIONS AND FINANCIAL SERVICES, UNIVERSITY OF NEW SOUTH WALES

PM rejects fears on press freedom

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Original article by Greg Brown
The Australian – Page: 2 : 6-Sep-19

Prime Minister Scott Morrison has stressed that the Coalition is "absolutely" committed to press freedom. He has also expressed his view that there are sufficient protections for whistleblowers, while he has defended the Australian Federal Police over the recent raid on the Canberra home of Australian Signals Directorate officer Cameron Gill. News Corp Australia executive Campbell Reid has claimed that the AFP raid was aimed at intimidating potential whistleblowers into not approaching the media.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SIGNALS DIRECTORATE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, LAW COUNCIL OF AUSTRALIA