Author: roymorgansocial

100 per cent sure Bowen knows best

roymorgansocial Leave a comment

Original article by Glen Norris, Greg Brown
The Australian – Page: 1 & 4 : 5-Feb-25

Energy Minister Chris Bowen and Resources Minister Madeleine King have defended the federal government’s ambitious renewable energy target, amid growing opposition within the business community. Bowen and King have stated that the government takes its advice on energy policy from experts. Infrastructure NSW chairman Graham Bradley is amongst the business leaders who contend that the target of generating 82 per cent of Australia’s electicity via renewables by 2030 is unrealistic and must be revised.

CORPORATES
AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, INFRASTRUCTURE NEW SOUTH WALES

Tariff fight heats up as China strikes back

roymorgansocial Leave a comment

Original article by Andrew Tillett, Jessica Sier, Matthew Cranston, Michael Read, Alex Gluyas, Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 10 : 5-Feb-25

The Chinese government will impose a tariff of 15 per cent on US coal and LNG imports from 10 February. Crude oil, farm equipment and some vehicles will in turn be subject to a tariff of 10 per cent. Beijing announced the move shortly after President Donald Trump’s new tariff regime on all goods imported from China took effect on Tuesday. Economists have warned that the tariffs dispute between the US and China will impact on the Australian economy, particularly if it escalates into a broader trade war. Meanwhile, the Chinese government has imposed export controls on critical minerals such as tungsten, tellurium and molybdenum, citing the need to "safeguard national security interests".

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Senator rejects Chalmers’ super tax offer

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 5-Feb-25

The federal government’s legislation to double the tax rate for superannuation funds with balances exceeding $3m requires the support of the Greens and at least three Senate crossbenchers. Lydia Thorpe and Fatima Payman are expected to support the bill, while Jacqui Lambie and David Pocock firmly oppose it. The support of Tasmanian independent Tammy Tyrell will therefore be crucial; however, she has rejected a deal to back the bill in retun for a commitment to proceed with a proposed ban on debit and credit card surcharges. Tyrell and a number of other crossbenchers are particularly concerned about the proposal to tax the unrealised gains of super funds. One Nation opposes the entire bill.

CORPORATES
AUSTRALIAN GREENS, ONE NATION PARTY

S&P loses patience, warns of state downgrades

roymorgansocial Leave a comment

Original article by Michael Read, Jonathan Shapiro
The Australian Financial Review – Page: 3 : 5-Feb-25

A report from S&P Global Ratings has concluded that the expenditure of Australia’s state and territory governments was $212bn higher between 2020 and 2023 than had been forecast in their 2019 budgets. This significantly offset the $146bn in revenue over the same four-year period. S&P forecasts that the combined debt of the states and territories will top $780bn by 2027, and the firm has warned they may face credit ratings downgrades unless action is taken to rein in spending.

CORPORATES
S&P GLOBAL RATINGS

Security ban for DeepSeek AI

roymorgansocial Leave a comment

Original article by Ben Packham
The Australian – Page: 1 & 6 : 5-Feb-25

The Department of Home Affairs has issued a protective ­security order which bans the use of DeepSeek on all federal government devices. Every government department and agency has been directed to remove the artificial intelligence app from their systems and devices, prevent future access to the app and report compliance with the order to Home Affairs. The total ban follows an assessment by intelligence agencies that the software poses an "unacceptable risk" to national security. Chinese short-video app TikTok was banned on all federal government-issued devices in 2023 due to similar concerns.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS

ANZ-Roy Morgan Consumer Confidence increases 2.5pts to 88.5 after the long weekend – its highest since May 2022

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 5-Feb-25

ANZ-Roy Morgan Consumer Confidence rose 2.5pts to 88.5 in the week to 2 February. Consumer Confidence is now 4.7 points above the same week a year ago (83.8), and 1.5 points above the 2025 weekly average of 87.0. A look at Consumer Confidence by State shows increases in Victoria, Queensland, Western Australia, and South Australia while the index was virtually unchanged in New South Wales. Now 20% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 46% (down 2ppts) say their families are ‘worse off’. Looking forward, 33% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 28% (down 1ppt) expect to be ‘worse off’. Now 11% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since July 2024), while 27% (unchanged) expect ‘bad times’. Meanwhile, 27% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 44% (down 3ppts) say now is a ‘bad time to buy’.

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

No retaliation if Trump targets us, says Chalmers

roymorgansocial Leave a comment

Original article by Ben Packham
The Australian – Page: 5 : 5-Feb-25

The federal government is optimistic that Australian imports to the US will not be targeted under President Donald Trump’s new tariffs policy. Treasurer Jim Chalmers has indicated that Labor is not contemplating the need to impose retaliatory measures on US imports, citing factors such as the two nations’ close strategic partnership and the large US trade surplus with Australia. Business Council of Australia CEO Bran Black also believes that such factors will enable Australia to avoid being targeted by Trump.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA

The number of smokers in Indonesia has surged since the pandemic, but fewer are coming from younger age groups

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 5-Feb-25

The latest Roy Morgan Indonesian survey from September 2024 shows that the overall number of smokers has risen from 43.2 million (30% of Indonesians aged 18+) in 2010 to 44.6 million in 2020 (31%). Over the last four years the smoking population has surged by nearly 10 million to almost 54.5 million people today – equivalent to 35% of the population, an increase of 4% points. Over two-thirds of smokers in Indonesia (68%) are now aged 35+; this is equivalent to 36.8 million people, and a stunning increase since 2014 when 52% of smokers (equivalent to 22.6 million people) were aged 35+. The largest group of smokers are in the middle age group of Indonesians aged 35-49 years old, up from 32% (13.9 million people) in 2014 to 40% (21.8 million people) in 2024. In contrast, the share of Indonesian smokers aged under 35 has fallen to 32% (17.7 million people), compared with 48% (20.6 million people) a decade ago.

CORPORATES
ROY MORGAN LIMITED

Allan’s shock confession that bail laws are too soft

roymorgansocial Leave a comment

Original article by Shannon Deery
Herald Sun – Page: Online : 4-Feb-25

Victoria’s Premier Jacinta Allan has ordered a review of the state’s bail laws, amid an ongoing crime wave. Allan has asked Attorney-General Sonya Kilkenny and Police Minister Anthony Carbines to review the existing bail laws, which were strengthened just six months ago. Allan says that while these reforms are already making a difference, it is clear that more needs to be done to address community safety. Shadow police minister David Southwick says Victoria has become a lawless state due to the government’s lack of leadership on the issue of crime.

CORPORATES
VICTORIA. DEPT OF PREMIER AND CABINET

ANZ-Roy Morgan New Zealand Consumer Confidence down 4.2pts to 96.0 in January

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 4-Feb-25

ANZ-Roy Morgan New Zealand Consumer Confidence fell 4.2pts to 96.0 in January. The future conditions index eased 1 point to 104.2, and the current conditions index fell by 9 points to 83.8. Net perceptions of current personal financial situations fell 3 points to -17% in January; only 23% of respondents said they are ‘better off financially’ compared to a year ago (down 3% points from December), while 39% (down 1% point) say they are ‘worse off financially’. Meanwhile, a net 23% of respondents expect to be ‘better off’ this time next year (up 2% points), while a net 16% of respondents think it is a ‘bad time’ to buy a major household item (down 15% points from a month ago). Two-year-ahead CPI inflation expectations were steady at 3.9%.

CORPORATES
ROY MORGAN LIMITED