Author: roymorgansocial

BHP calls for LNG-powered iron ore vessels

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 18 : 15-Jul-19

BHP is seeking to reduce the greenhouse gas emissions its products create once they have been acquired by its customers. As part of that effort, it has launched a tender that would see around 10 per cent of its iron ore exports to China transported in ships powered by LNG by around late 2021. BHP executive Rashpal Bhatti notes that LNG can achieve a 25 per cent reduction in greenhouse gas emissions when compared to low sulphur fuel oil.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Alston Determination on the agenda for Fletcher

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 30 : 15-Jul-19

The federal government is reviewing a ruling that online live streaming of TV and radio content is not subject to the Broadcasting Services Act. The ministerial determination was made in 2000 by former Communications Minister Richard Alston, and it is slated to expire on 1 October 2019. Amongst other things, scrapping the distinction between live streaming and broadcasting may impact on the cost of sports rights, given that the online and TV rights to sports such as the AFL and NRL are currently sold separately.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, PHONOGRAPHIC PERFORMANCE COMPANY OF AUSTRALIA LIMITED, COMMERCIAL RADIO AUSTRALIA LIMITED, APPLE MUSIC, SPOTIFY LIMITED, WIN CORPORATION PTY LTD

RBA could weigh cheap cash to banks if rates fall: analysts

roymorgansocial Leave a comment

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 17 : 15-Jul-19

Observers expect the Reserve Bank of Australia to cut the cash rate again by the end of 2019. However, analysts estimate that bank earnings would be reduced by seven per cent if they were to pass on the next interest rate cut in full, meaning only a partial cut in mortgage rates is likely. Credit Suisse has suggested that the RBA might offer cheap funding to banks that offer to pass on the next rate cut in full under a scheme similar to that adopted by the Bank of England after it cut interest rates following the Brexit vote in 2016.

CORPORATES
RESERVE BANK OF AUSTRALIA, CREDIT SUISSE (AUSTRALIA) LIMITED, BANK OF ENGLAND, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Rio expands drilling on copper prospect

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 17 : 15-Jul-19

Rio Tinto is undertaking further drilling work at its Winu copper discovery in Western Australia’s Paterson Range. Arnaud Soirat, the head of Rio Tinto’s copper division, says the resources giant has identified other sites in the region that could also be drilled in the future. He adds that Rio Tinto’s focus is on value over volume, and that Winu could potentially be developed before the Resolution copper project in the US.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ANTIPA MINERALS LIMITED – ASX AZY, SIPA RESOURCES INTERNATIONAL LIMITED – ASX SRI, ENCOUNTER INVESTMENTS PTY LTD, GREATLAND GOLD PLC, NEWCREST MINING LIMITED – ASX NCM, CITIGROUP PTY LTD

Japan shines as increasingly popular travel destination – attracting a particular kind of holidaymaker

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 15-Jul-19

New research from Roy Morgan’s recent State of the Nation Report on Travel shows that 78.6% of Australians aged 14+ would like to take a holiday in the next 12 months, down 5% points since 2001-02. Some 72% of Australians would like to take a domestic holiday (down 9.1%), while 49.5% would like an overseas holiday (up 7.5% points since 2001-02). The top five most popular overseas destinations are New Zealand, the US, England, Japan and Canada. In early 2004, only 2.5% of Australians mentioned Japan as a holiday destination they would like to visit. The popularity of Japan as a holiday destination increased steadily over the next decade, overtaking Thailand as the most popular Asian travel destination in early 2014. Other popular Asian holiday destinations include Bali, Singapore, Vietnam and mainland China.

CORPORATES
ROY MORGAN LIMITED

Renewables well short of the electricity target

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 2 : 12-Jul-19

Tony Wood from the Grattan Institute expects Australia’s Renewable Energy Target of 33GWh by 2020 to be met, despite the release of data showing that solar and wind power accounted for just 15 gigawatt hours of total electricity generation in 2018-19. Wood notes that uncertainty surrounding the RET has caused investment in renewables to be delayed, but he says separate data shows that such investment in renewables is slated to increase during 2019-20.

CORPORATES
GRATTAN INSTITUTE, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN ENERGY REGULATOR, AUSTRALIAN ENERGY COUNCIL

Hydro project wins $610m federal loan

roymorgansocial Leave a comment

Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 12-Jul-19

Genex Power will receive a $610m loan from the Northern Australia Infrastructure Facility for its proposed pumped hydro project in Queensland. NAIF CEO Laurie Walker notes that the project will provide northern Queensland with an additional 250 megawatts of power, with EnergyAustralia in the process of concluding a deal to receive electricity from the project. The concessional loan is the largest allocation made by the $5 billion NAIF to date.

CORPORATES
GENEX POWER LIMITED – ASX GNX, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, J-POWER AUSTRALIA PTY LTD, QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY

Inflation sentiment defies Reserve Bank projections

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 2 : 12-Jul-19

Roy Morgan’s monthly inflation expectations survey shows that consumers expect inflation of 3.8 per cent for each of the next two years. This compares with the official inflation rate of 1.3 per cent for the year to March, and the Reserve Bank’s inflation target of 2-3 per cent. Julian McCrann of Roy Morgan says the decline in the housing market has been a big driver of lower inflation expectations in 2019.

CORPORATES
ROY MORGAN LIMITED, RESERVE BANK OF AUSTRALIA

Media, foreign leaders step up freedom push

roymorgansocial Leave a comment

Original article by Rosie Lewis, Jacquelin Magnay
The Australian – Page: 4 : 12-Jul-19

The ABC and News Corp Australia still do not know if any journalists will be prosecuted following the police raids in early June. ABC MD David Anderson says the public broadcaster has asked Home Affairs Minister Peter Dutton to intervene, although government sources say that he has no power to do so. The Australian Federal Police raids have attracted scrutiny at the Global Conference for Media Freedom, with human rights lawyer Amal Clooney and British Foreign Secretary Jeremy Hunt expressing concern about the implications of the raids for freedom of the press globally.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. DEPT OF HOME AFFAIRS, GREAT BRITAIN. FOREIGN OFFICE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY

Fiscal policy needs to play bigger role

roymorgansocial Leave a comment

Original article by David Rogers
The Australian – Page: 27 : 12-Jul-19

HSBC Australia’s chief economist Paul Bloxham says the federal government’s tax cuts are likely to have a similar short-term economic impact as an 0.5 per cent reduction in the cash rate. Bloxham adds that there is plenty of scope for the government to stimulate the economy via fiscal policy, particularly given that there is limited capacity for monetary policy to provide further stimulus. He has also flagged the possibility of establishing an independent fiscal authority to co-ordinate fiscal and monetary policy.

CORPORATES
HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA