Author: roymorgansocial

Fast-track visas for world’s best

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 13-Aug-19

Federal Immigration Minister David Coleman is to release details of a new migrant program on 13 August, with visas for 5,000 high-skilled people from around the world to be fast-tracked each year. Coleman says the Global Talent Independent Program will focus on no more than five or six sectors, with fintech, quantum computing and agtech some of the sectors to be targeted. The 5,000 migrants to be targeted under the Global Talent Independent Program will be included in the current annual skilled migration cap of 70,000.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS

Reynolds welcomes deal on rare earths with non-Chinese customer

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Original article by Brad Thompson
The Australian Financial Review – Page: Online : 13-Aug-19

Federal Defence Minister Linda Reynolds says it is important that Australia ensures it has secure supplies of critical resources, in particular rare earths. Reynolds notes that defence firms need access to rare earths, as rare earths are used in the production of defence equipment. She welcomed the announcement on 12 August by heavy rare earths supplier Northern Minerals that it had signed a 100 per cent off-take agreement with Thyssenkrupp, which is one of the largest materials distributors to the Western world. The announcement followed just days after Northern Minerals terminated an off-take agreement with Chinese firm Lianyugang Zeyu New Materials Sales Company.

CORPORATES
AUSTRALIA. DEPT OF DEFENCE, NORTHERN MINERALS LIMITED – ASX NTU, LIANYUGANG ZEYU NEW MATERIALS SALES COMPANY, LYNAS CORPORATION LIMITED – ASX LYC

Nine jumps on remaining Macquarie stake for $113.9m

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 13-Aug-19

Nine has announced a $1.46 per share offer for the remaining 45.5 per cent of Macquarie Media that it does not already own, with Nine to pay around $114 million for the stake. Macquarie Media is the owner of radio stations 2GB in Sydney and 3AW in Melbourne. Businessman John Singleton, who owns 32.3 per cent of Macquarie Media, stands to receive $81 million if the deal goes through. Nine acquired its majority stake in Macquarie Media as a result of its $4 billion merger with Fairfax Media in 2018.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Unemployment matters: At the Federal Election the L-NP picked up four marginal seats with total unemployment and under-employment over 25%

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Aug-19

The latest data for the Roy Morgan employment series shows that in July 1.19 million Australians were unemployed (8.7% of the workforce) with an additional 1.3 million (9.6%) now underemployed. Employment was up 361,000 to 12,382,000 in July, while unemployment was down 147,000 on a year ago to 1,182,000 Australians, with the unemployment rate having fallen by 1.3% to 8.7%. However, the underemployment rate has risen 1% to 9.6% over the past year. Roy Morgan’s real unemployment figure of 8.7% for July is significantly higher than the current ABS estimate for June of 5.2%, although Roy Morgan’s underemployment estimate of 9.6% is comparable to the current ABS underemployment estimate of 8.2%. Roy Morgan CEO Michele Levine says unemployment and underemployment played a decisive role in the recent federal election, with the L-NP Government picking up four marginal seats from the ALP which have total unemployment and underemployment of over 20%.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

1-in-8 Australians consume beer, wine and another alcohol

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Aug-19

New research from Roy Morgan shows that two-thirds of Australians aged 18+ (66.3%) consume alcohol in an average four weeks and over 1-in-8 Australians (12.8%) consume not only beer and wine, but also at least one of spirits, RTDs, liqueurs or cider in an average four weeks. For the two-thirds of Australians that do drink alcohol on a regular basis wine is the most popular choice with 41.3% of Australians drinking wine in an average four weeks compared to 37.6% that drink beer. In addition 37.6%, drink another type of alcohol including at least one of spirits, cider, RTDs or liqueur. However, despite the 1-in-8 Australians that drink beer, wine and something else, overall incidence of alcohol consumption has continued to decline gently over the last five years from 69.8% in mid-2014. Roy Morgan CEO Michele Levine notes that being able to identify and profile who these 1-in-8 Australians are and where to find them is of vital importance to any alcohol retailers and distributors looking to shore up their market share in a market which is reaching a declining proportion of the population.

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ROY MORGAN LIMITED

Backbench push unfair dismissal

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Aug-19

The business sector is calling for changes to industrial relations laws, and Coalition backbenchers are also pressuring the federal government for action in this area. The Business Council of Australia has called for the replacement of the ‘better off overall test’ with a new test that would only require each class of employee, rather than each individual employee, not to be worse off when the Fair Work Commission is asked to approve an enterprise agreement. Meanwhile, Liberal National party senator Amanda Stoker claims unfair dismissal laws as they apply to small and medium businesses represent a "block to growth", while she also says the modern award system is too complicated.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Government accused of censoring Parliament over inquiry into China ties

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Original article by Samantha Maiden
The New Daily – Page: Online : 12-Aug-19

Centre Alliance Senator Rex Patrick has accused the federal government of effectively censoring Parliament over its refusal to support an inquiry into Australia’s relationship with China. Patrick is the co-sponsor of the proposed inquiry, along with Labor Senator Kimberly Kitching. He claims the government is worried about how China might react to such an inquiry, but Patrick says it is not intended to be inflammatory. Labor frontbencher Richard Marles notes Australia’s relationship with China "is a very complex question".

CORPORATES
CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY

Cadia peaks for Newcrest with $1billion bounty

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 12-Aug-19

Newcrest Mining is expected to confirm in the week beginning 12 August that its Cadia gold mine in New South Wales generated over $1 billion of earnings in the year to 30 June. However, such a result is unlikely to be repeated, as Cadia’s production is expected to decline over coming decades. Meanwhile, Newcrest is tipped to finalise the purchase of a 70 per cent stake in the Red Chris mine in Canada from Imperial Metals for $US806.5 million ($1.18 billion) by 16 August.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, IMPERIAL METALS

Book of death bid to keep default life insurance

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 6 : 12-Aug-19

Parliament is due to vote on legislation in September that would see people under 25 and those with low account balances no longer automatically receive life insurance through their superannuation. It has been estimated the measure could reduce the premiums that life insurance companies receive by almost $3 billion. It is believed lobbyists for life insurer TAL have circulated a document featuring examples of dead and injured workers who have received insurance payouts but who would not have done so under the proposed changes. The document has been dubbed ‘the book of death’ by some MPs.

CORPORATES
TAL LIMITED

Facebook’s $7bn fine piques the interest of Privacy Commissioner

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Original article by Leo Shanahan
The Australian – Page: Online : 12-Aug-19

Australian Information and Privacy Commissioner Angelene Falk launched an investigation into Facebook Australia in 2018. This followed the latter revealing up to 311,000 Australians might have had their personal data "improperly shared" by Cambridge Analytica. Falk, who was a key adviser to ACCC chairman Rod Sims on his report into digital platforms and their impact on traditional media, says the investigation is a "matter of great priority" for her office. She notes with interest the recent $US7 billion fine that the US Federal Trade Commission imposed on Facebook in the wake of a number of privacy violations by it, including the Cambridge Analytica leak.

CORPORATES
AUSTRALIA. OFFICE OF THE AUSTRALIAN INFORMATION COMMISSIONER, FACEBOOK INCORPORATED, CAMBRIDGE ANALYTICA LLC, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UNITED STATES. FEDERAL TRADE COMMISSION