Author: roymorgansocial

WikiLeaks founder Julian Assange faces US extradition after arrest in London

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Original article by
The New Daily – Page: Online : 12-Apr-19

The US is expected to seek to extradite Julian Assange on conspiracy charges after the Ecuadorian embassy in London revoked his political asylum. The WikiLeaks founder was immediately arrested at the embassy and appeared in court on a charge of breaching bail. Assange was found guilty of the charge, and he is now slated to face a US extradition hearing on 2 May. Assange could be jailed for up to five years in the US if he is convicted of conspiring to break into a Department of Defense computer.

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WIKILEAKS, UNITED STATES. DEPT OF DEFENSE

Whitehaven to roll out driverless trucks

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Original article by Nick Evans
The Australian – Page: 21 : 12-Apr-19

Whitehaven Coal has downgraded its sales expectations for 2018-19 to between 20.5 and 21 million tonnes, compared with previous guidance of 21.5 to 22.5 million tonnes. It follows a three per cent fall in production during the March quarter, with output affected by lower yields at its Maules Creek mine in New South Wales. Meanwhile, Whitehaven has advised that it aims to deploy six autonomous haulage trucks at the Maules Creek mine by October. It will be the first time driverless trucks have been used at an Australian coal mine.

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WHITEHAVEN COAL LIMITED – ASX WHC, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, MORGANS FINANCIAL LIMITED

IAG faces action over sales tactics

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Original article by James Fernyhough
The Australian Financial Review – Page: 30 : 12-Apr-19

Law firms Johnson Winter & Slattery and Bannister Law have filed a class action against Insurance Australia Group. The lawsuit will allege that IAG subsidiary Swann Insurance engaged in misleading and deceptive conduct with regard to the sale of add-on car insurance, which IAG has ceased offering. The Australian Securities & Investments Commission questioned the value of add-on insurance in 2017, while such policies also attracted scrutiny by the Hayne royal commission.

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, SWANN INSURANCE (AUSTRALIA) PTY LTD, JOHNSON WINTER AND SLATTERY, BANNISTER LAW, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Tax attack kicks off campaign

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 12-Apr-19

The federal government has released Treasury modelling which suggests that tax revenue would rise by $387bn over the next decade if Labor wins the election on 18 May. Treasury estimates that Labor’s plans to scrap the second and third stages of the government’s income tax cuts package would increase the tax take by $230bn, which is consistent with Labor’s own estimate of $226bn. The modelling also shows that Australia’s tax-to-GDP ratio would rise to a record 25.9 per cent over the next decade if Labor wins the election.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

A fair go and economy hums

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Original article by John Ferguson
The Australian – Page: 5 : 12-Apr-19

Opposition Leader Bill Shorten used the first day of the election campaign to emphasise that Labor will address issues such as low wages growth and concerns about the rising cost of living. He stressed that Labor will ensure a "fair go" for everyday Australians, as he sought to appeal to working-class and middle-class voters. Shorten also highlighted the lack of stable leadership within the Coalition since it gained office in 2013, which has resulted in three changes of prime minister.

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AUSTRALIAN LABOR PARTY

Workers join the barricades for ALP

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Original article by Ewin Hannan
The Australian – Page: 5 : 12-Apr-19

ACTU secretary Sally McManus has described the federal election as an opportunity to "restore fairness" for working people, arguing that the Coalition’s legacies include record low wages growth, record levels of inequality and lack of job security. The ACTU intends to campaign in 28 seats during the election, while unions will target 17 seats in a national door-knocking campaign on the weekend of 13-14 April. Meanwhile, political activist GetUp will target 30 seats during the election, including those held by Peter Dutton, Greg Hunt and Tony Abbott.

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ACTU, GETUP LIMITED, VICTORIAN TRADES HALL COUNCIL, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION

Morrison plays trumps to open

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Original article by Rosie Lewis
The Australian – Page: 4 : 12-Apr-19

Prime Minister Scott Morrison emphasised the federal government’s economic credentials on the first day of the election campaign. He noted that 1.2 million jobs have been created since the Coalition was elected in 2013, while the Budget is set to return to surplus in 2019-20. Morrison also stressed that a strong economy rather than higher taxes will deliver essential services such as health and education. Morrison did not mention climate change in his first press conference, but he later stated that Australia will meet its carbon emission reduction targets.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Federal Election 2019: ALP (52.5%) starts ahead of L-NP (47.5%) but wrong to say Labor has election won – Michele Levine, CEO Roy Morgan

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Apr-19

Yesterday Prime Minister Scott Morrison called the Federal Election for May 18, and the last weekend’s Roy Morgan ‘face-to-face’ poll showed the ALP (52.5%) cf. L-NP (47.5%) with a winning lead as official campaigning begins. However, the example of the 1993 Liberal ‘unloseable’ Federal election showed that one mis-step can swing the result of the election, when Opposition Leader John Hewson ‘stumbled’ over the impact of the GST on birthday cakes and subsequently lost the election. Prime Minister Morrison’s appeal to ‘trust’ in his re-election campaign is ‘gutsy’, but the real key is for leaders not to allow ‘distrust’ to attach to their campaigns and leadership. It is ‘distrust’ that really drives many electors’ voting decisions. Of more concern for electors are the areas where they ‘distrust’ a party or leader. What are electors worried about? The ALP has significant ‘distrust’ issues with their relationship with the unions and the ALP’s many potential changes to the tax system. For the L-NP the uncertainties about the change of leadership of the L-NP are still generating ‘distrust’, and the ‘shenanigans’ that big business – including financial institutions – have been engaging in are seen as a bigger problem driving ‘distrust’ in the L-NP than Labor. View the full 9-minute video with Roy Morgan CEO Michele Levine explaining the key drivers for next month’s Federal Election at this link.

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ROY MORGAN LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Rate cut to avoid poll date as economy becomes battleground

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Original article by David Rogers
The Australian – Page: 19 & 29 : 12-Apr-19

Financial markets have priced in a 25 basis point reduction in official interest rates by October, although the chances of a rate cut during the federal election campaign are seen to be low. Meanwhile, Shane Oliver of AMP Capital says historical analysis shows that movements in global sharemarkets tend to have a bigger impact on the local bourse than the outcome of a federal election. However, he notes that Labor’s policies such as income tax and franking credit reforms may weigh on shares and the Australian dollar.

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AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, CITIGROUP PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, STANDARD AND POOR’S ASX 200 INDEX

Rio links pay to climate change

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Original article by Nick Evans, Perry Williams
The Australian – Page: 19 & 22 : 12-Apr-19

Shareholders at Rio Tinto’s annual meeting in London have been told that progress in achieving greenhouse gas emission reduction targets could be included in its performance bonus system. A revised executive incentive scheme will be put to shareholders in 2021, and chairman Simon Thompson said short-term bonus plans could potentially be linked to its emission reduction targets. He has ruled out setting targets for Rio Tinto’s customers to reduce their own carbon emissions. A resolution on the issue will be put to the Australian annual meeting in May.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CLIMATE ACTION 100+, ALUMINIUM CORPORATION OF CHINA LIMITED, BHP GROUP LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, ROYAL DUTCH SHELL PLC