Author: roymorgansocial

Labor reckless, irresponsible for public sector wage call

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Original article by Richard Ferguson, Michael Roddan
The Australian – Page: 4 : 31-Jul-19

Shadow financial services minister Stephen Jones says the federal government should stimulate the economy and wages growth by increasing salaries in the public sector. He argues that the government is a major employer and it should "lead by example" in boosting wages. His comments follow the release of Household, Income and Labour Dynamics in Australia survey data, which highlights the low growth in average income since the global financial crisis. Finance Minister Mathias Cormann contends that public sector employees receive "reasonable and affordable" pay rises via workplace bargaining.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY, ACTU, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

ANZ-Roy Morgan Consumer Confidence boosted to 118.5

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Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jul-19

ANZ-Roy Morgan Australian Consumer Confidence rose 1.9% to 118.5 in the week ended 28 July, building on the 0.3% gain in the previous week. Households’ views towards current financial conditions fell 0.9%, although this followed a 2.8% jump in the previous week; views towards future financial conditions gained 1.2%. Consumers’ views toward current economic conditions rose 5.8%, but views toward future economic conditions were flat. The ‘time to buy a major household item’ index gained 3.5%, after losing 4.4% previously, and the four-week moving average for inflation expectations was up 0.1ppt to 4.1%.

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

Data snooping free-for-all

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Original article by Mark Schliebs
The Australian – Page: 1 & 4 : 31-Jul-19

The Telecommunication Interception and Access Act identifies just 22 agencies that are entitled to access Australians’ metadata. However, a parliamentary committee that is reviewing the data retention laws has been told that at least 87 agencies have applied to access metadata without a warrant since the legislation took effect in 2015. Telstra has told the committee that many agencies are bypassing the data retention regime by seeking access to metadata via the Telecommunications Act. This is often to investigate minor legal breaches rather than serious criminal activity or issues concerning ­national security.

CORPORATES
AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, TELSTRA CORPORATION LIMITED – ASX TLS, COMMUNICATIONS ALLIANCE LIMITED, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPM, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMISSION FOR LAW ENFORCEMENT INTEGRITY, AUSTRALIAN CRIMINAL INTELLIGENCE COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Jobs on the line as home builds slide

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Original article by Michael Roddan
The Australian – Page: 4 : 31-Jul-19

Data from the Australian Bureau of Statistics shows that new housing approvals fell by 1.2 per cent during June and 26 per cent year-on-year. Apartment approvals were 40 per cent lower in June than at the same time in 2018. Matthew Hassan of Westpac expects further weakness in dwelling approvals over the remainder of 2019 and during the first half of 2020. George Tharenou of UBS warns that the downturn in housing approvals could put about 100,000 construction industry jobs at risk.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, WESTPAC BANKING CORPORATION – ASX WBC, UBS HOLDINGS PTY LTD

ASX hits record high, topping 2007 peak

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Original article by David Rogers
The Australian – Page: 17 & 25 : 31-Jul-19

The S&P/ASX 200 has more than doubled since reaching a low of 3,120.8 points during the global financial crisis. The Australian market’s year-to-date gain of 21 per cent is its strongest since 1991, potentially putting it on track for the best year since 2009. Meanwhile, Shane Oliver of AMP Capital warns that the 2019 rally means there is the risk of a short term correction, and Hasan Tevfik of MST Marquee says the market’s high forward price-to-earnings ratio means investors need to be "quite selective" about the stocks they buy.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, AMP CAPITAL INVESTORS LIMITED, MST MARQUEE, PENGANA CAPITAL GROUP LIMITED – ASX PCG, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD

Poor Barnaby struggling to get by on $280k

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Original article by Greg Brown
The Australian – Page: 6 : 30-Jul-19

Former deputy prime minister Barnaby Joyce has been criticised after he claimed that he is finding it hard to get by on his parliamentary wage, and for linking his circumstances to people on the Newstart allowance. It can be revealed that Joyce’s total remuneration is $280,000 a year, while people on Newstart are paid as little as $40 a day. Joyce has called for Newstart to be increased, while he told a newspaper that having his pay reduced in 2018 after he lost the deputy prime ministership, on top of the costs of his marriage breakdown, meant that the money he is now getting "is spread so thin".

CORPORATES
ONE NATION PARTY, NATIONAL PARTY OF AUSTRALIA

Train staff vote to strike

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Original article by Kieran Rooney
Herald Sun – Page: 8 : 30-Jul-19

Melbourne’s train network may be hit by work bans and stoppages after about 99 per cent of Rail, Tram & Bus Union members voted to take industrial action over stalled negotiations regarding a new enterprise agreement. RTBU state secretary Luba Grigorovitch says the union has been holding talks with Metro Trains for five months, and members will try to minimise the impact of any disruption for commuters. The union is seeking a pay rise of six per cent for Metro’s operational staff, whose existing enterprise agreement expired at the start of July.

CORPORATES
METRO TRAINS MELBOURNE PTY LTD, AUSTRALIAN RAIL, TRAM AND BUS INDUSTRY UNION, AUSTRALIA. FAIR WORK COMMISSION

Aussies no better off since GFC

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Original article by Adam Creighton
The Australian – Page: 1 & 4 : 30-Jul-19

The latest Household, Income and Labour Dynamics (HILDA) survey shows that average household income in Australia increased by just 3.5 per cent (or $3,156) between 2009 and 2017. Analysis also shows that the median annual income in 2017 was $542 lower than in 2009, while the median income has fallen by $100 since the Coalition was elected in 2013. Meanwhile, the share of households in relative poverty has increased to 10.4 per cent, while the share of households living in absolute poverty has been steady at around four per cent since 2012. Interviewing for the HILDA survey is conducted by Roy Morgan.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIAN BUREAU OF STATISTICS

Senate crossbench jury out on union bashing bills

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 30-Jul-19

The federal government needs the support of Senate crossbenchers to pass its Ensuring Integrity Bill. Cory Bernardi has indicated that he will support it, leaving the government to get three more votes. One Nation, Centre Alliance and Jacquie Lambie have five votes between them, but they are all are undecided at the moment. Both One Nation and Centre Alliance have indicated that they would like to see the legislation amended so that it is more in harmony with corporate law, although the government is of the opinion that this is already the case. The bill has been referred to a Senate committee and will not be debated until October.

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, ACTU, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, CROWN RESORTS LIMITED – ASX CWN, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS

RBA could cut cash rate as soon as August

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Original article by William McInnes
The Australian Financial Review – Page: 24 : 30-Jul-19

The futures market has priced in a 20 per cent chance that the Reserve Bank of Australia will reduce the cash rate for a third consecutive month in August. Inflation data to be released on 31 July may influence the timing of any rate cut; market expectations are for a CPI of 1.5 per cent for the June quarter, below the RBA’s forecast of 1.6 per cent. National Australia Bank economist Tapas Strickland says the CPI reading would probably need to be around 1.3 per cent or 1.4 per cent for the central bank to reduce the cash rate in August.

CORPORATES
RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, IFM INVESTORS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, EUROPEAN CENTRAL BANK