Author: roymorgansocial

Fortescue enters the big tech race

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Original article by Paul Garvey
The Australian – Page: 24 : 22-Mar-19

Pure-play iron ore miner Fortescue Metals Group will establish a research and development centre for self-driving cars in Karratha. Amongst other things, the research facility will undertake a trial of self-driving light vehicles at the Christmas Creek iron ore mine. Fortescue CEO Elizabeth Gaines expects autonomous vehicles to become widely used in both the mining industry and urban areas. Fortescue already operates more than 100 self-driving iron ore haulage trucks in the Pilbara.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, TESLA INCORPORATED, GOOGLE INCORPORATED

Inflation Expectations lowest in over two years

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Mar-19

Australians aged +14 expect inflation of 4% per year over the next two years, according to the Roy Morgan Inflation Expectations Index for February 2019. This is down 0.2% on January, and down 0.4% on February 2018. Inflation Expectations have now broken below the range they have tracked in for over two years and are now at their lowest since November 2016. Inflation Expectations have now dropped significantly below the nine-year average of 4.9%. Analysis by voting intentions shows that Inflation Expectations for supporters of the major parties were unchanged in February, with L-NP supporters having Inflation Expectations of only 3.6% and Inflation Expectations for ALP supporters of 3.9%. February Inflation Expectations are based on personally interviewing a nationwide sample of 4,234 Australians aged 14+ face-to-face in their own homes.

CORPORATES
ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Shares on track for bumper quarter

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Original article by David Rogers
The Australian – Page: 21 & 30 : 22-Mar-19

The S&P/ASX 200 has gained 9.2 per cent so far in 2019, putting it on track for the best quarterly return since 2009. The rebound follows a loss of 6.9 per cent for the benchmark index in calendar 2018, including a nine per cent loss in the fourth quarter. However, Chris Nicol of Morgan Stanley is bearish about the outlook for the local bourse, forecasting that the S&P/ASX 200 will end the year at 5,800 points. He also forecasts economic growth of just two per cent in 2019.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MORGAN STANLEY AUSTRALIA LIMITED, MSCI ALL COUNTRY WORLD INDEX, SUPERRATINGS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF AUSTRALIA

Labor’s climate of catastrophe

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Original article by John Anderson
The Australian – Page: 14 : 21-Mar-19

Australia accounts for just 1.15 per cent of global greenhouse gas emissions, yet the nation is set to exceed its 2020 abatement target by 367 million tonnes. Meanwhile, global emissions are increasing at a rate of about two per cent annually. Labor’s proposal to reduce Australia’s carbon emissions by 45 per cent will in fact increase global emissions, as it will force industries such as aluminium manufacturing to shift production to countries that have lower efficiency standards. Labor’s policy would also have a much bigger negative impact on Australia’s GDP than the Coalition’s target of reducing greenhouse gas emissions by about 27 per cent.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE

Employer dissatisfaction with bargaining process rising

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 2 : 21-Mar-19

The findings of a survey by law firm Ashurst would appear to support a recent claim by Labor leader Bill Shorten that the enterprise bargaining system is ‘broken’. The survey of 160 companies in the benchmark S&P/ASX 200 found that 31 per cent have old enterprise agreements in place, up from 21 per cent in 2017. Likewise, 39 per cent of respondents said it takes 12 months to negotiate a new workplace agreement, compared with 30 per cent previously. Some companies indicated that their enterprise agreement expired more than four years ago.

CORPORATES
ASHURST AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, AUSTRALIAN LABOR PARTY

Morrison includes telcos in social media crackdown

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Original article by Paul Smith
The Australian Financial Review – Page: 9 : 21-Mar-19

The federal government will meet with representatives of ISPs and digital platforms on 26 March to discuss measures to prevent the distribution of objectionable content. Social media companies have come under scrutiny after their platforms were used to live-stream the Christchurch mosque shootings, and they were initially expected to be the focus of the government’s talks. However, representatives of Telstra, Optus and Vodafone will also attend the meeting in Brisbane. The telcos have announced that they will block access to footage of the mosque attacks.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, VODAFONE AUSTRALIA LIMITED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

SQM urges phasing in of gearing reforms

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Original article by Michael Bleby
The Australian Financial Review – Page: 35 & 38 : 21-Mar-19

SQM Research MD Louis Christopher says Labor should implement its proposed negative gearing and capital gains tax reforms gradually if it wins the federal election, to avoid a "shock" to the broader economy. Research by SQM suggests that Labor’s reforms could potentially result in a 12 per cent decline in residential property prices over three years, while rents could rise sharply as supply is reduced. SQM adds that two official interest rate cuts by January 2020 would see housing prices fall by just 4-8 over three years, as well as lower rent increases.

CORPORATES
SQM RESEARCH PTY LTD, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Turkey threatens Anzac ties

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Original article by Simon Benson, Ben Packham
The Australian – Page: 1 & 9 : 21-Mar-19

The federal government has not ruled out severing diplomatic ties with Turkey in the wake of inflammatory comments by President Recep Tayyip Erdogan. Prime Minister Scott Morrison has requested urgent talks with Turkey’s ambassador to Australia, and he has demanded an apology after Erdogan said Australian tourists could return home in coffins in reprisal for the Christchurch mosque attacks. The diplomatic row has cast doubt on future Gallipoli commemorations and heightened concerns about the safety of Australians who travel to Turkey for the upcoming ANZAC Day service.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Migration cuts won’t harm economy: PM

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 21-Mar-19

Prime Minister Scott Morrison has downplayed concerns that a new cap on Australia’s permanent migrant intake will have an impact on economic growth. Business Council of Australia CEO Jennifer Westacott and Australia Industry Group CEO Innes Willox are among the business leaders who have warned that cutting the migrant intake could impact on the economy. Morrison argues that the larger cut advocated by some cabinet ministers would have had an effect on economic growth.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN LABOR PARTY, ONE NATION PARTY

Reserve urges stingy banks to open up the credit floodgates

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Original article by Paul Garvey, David Rogers
The Australian – Page: 19 & 29 : 21-Mar-19

The Reserve Bank of Australia’s assistant governor Michele Bullock has urged the nation’s banks to be less risk-averse with regard to mortgage lending. She has used an Urban Development Institute of Australia speech to argue that banks should relax their lending standards in the wake of the Hayne royal commission and the Australian Prudential Regulation Authority’s move to ease restrictions on lending. Bullock added that a credit crunch in Australia is unlikely, but this could depend on the outlook for the housing market.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA, AUSTRALIAN BANKING ASSOCIATION