Author: roymorgansocial

Gindalbie accepts $39m takeover

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Original article by Paul Garvey
The Australian – Page: 20 : 12-Mar-19

Directors of iron ore junior Gindalbie Metals have recommended that shareholders accept a $39m takeover offer from China-based Ansteel. Gindalbie and Ansteel are joint venture partners in the Karara magnetite mine in the Mid-West region of Western Australia, and Gindalbie wrote down the value of its 48 per cent stake in the project to zero in 2014. Gindalbie also intends to demerge its Coda Minerals subsidiary.

CORPORATES
GINDALBIE METALS LIMITED – ASX GBG, ANSHAN IRON AND STEEL COMPANY, CODA MINERALS LIMITED, ATLAS LEAD GENERATION PTY LTD, BCI MINERALS LIMITED – ASX BCI

Newcrest’s $1.1bn North American bet

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Original article by Paul Garvey
The Australian – Page: 20 : 12-Mar-19

Newcrest Mining CEO Sandeep Biswas says more acquisitions are possible following an $US806.5m ($1.1bn) deal to acquire a 70 per cent stake in the Red Chris gold-copper mine in Canada. Red Chris is currently an open-cut mine, but it has the potential to yield significantly more gold and copper by using block caving. Newcrest is also widely considered to be a contender to acquire from Barrick Gold and Newmont Mining if their proposed merger proceeds.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION, IMPERIAL METALS CORPORATION, NORTHERN STAR RESOURCES LIMITED – ASX NST, OCEANAGOLD CORPORATION – ASX OGC, EVOLUTION MINING LIMITED – ASX EVN, ST BARBARA LIMITED – ASX SBM

Mobile ad boom hits $4.2bn

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Original article by Zoe Samios
The Australian – Page: 28 : 12-Mar-19

The latest IAB Australia Online Advertising Expenditure Report shows that spending on mobile advertising grew by 35 per cent year-on-year in 2018, to $4.2bn. Online advertising expenditure totalled $8.8bn overall, which is 11 per cent higher than in 2017. Spending on general display advertising totalled $3.3bn, with search and directories accounting for $3.4bn of the annual expenditure.

CORPORATES
INTERACTIVE ADVERTISING BUREAU AUSTRALIA, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Meghan Markle’s hope for her unborn child on International Women’s Day

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Original article by Pallavi Singhal
The Sydney Morning Herald – Page: Online : 9-Mar-19

Meghan Markle has told an International Women’s Day panel at Kings College in London that she hopes her first child will be a feminist. The Duchess of Sussex is due to give birth in April. Former Australian Prime Minister Julia Gillard was one of the other panel members, with Gillard saying her work with the Global Institute for Women’s Leadership at Kings College is all about determining how to do away with the barriers that prevent women becoming leaders across all societies. Markle said many of the world’s problems can be solved by giving girls access to education.

CORPORATES
GLOBAL INSTITUTE FOR WOMEN’S LEADERSHIP

Westpac, CBA flooded with new customer complaints

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Original article by James Eyers, James Frost
The Australian Financial Review – Page: Online : 9-Mar-19

There are now nearly 1,000 outstanding customer complaints against the Commonwealth Bank, with new complaints surging in the wake of the banking royal commission. The number of such complaints against Westpac is 1,800. Westpac CEO Brian Hartzer has suggested one of the reasons for the surge in complaints has been publicity concerning the new Australian Financial Complaints Authority. Both Hartzer and CBA CEO Matt Comyn are supportive of moves that would assist consumers and community lawyers to take actions against banks.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY

Celia Hammond wins Liberal preselection for Curtin

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Original article by Andrew Burrell
The Australian – Page: Online : 11-Mar-19

Former vice-chancellor of the University of Notre Dame Celia Hammond has been selected by the Liberal Party as its new candidate for the seat of Curtin. The seat is currently held by former foreign minister Julie Bishop, who is not standing again at the upcoming federal election. Foreign policy analyst Erin Watson-Lyn, who was being backed by moderate allies of Bishop, secured only one vote in the preselection. Prime Minister Scott Morrison has tweeted his congratulations to Hammond, who joined the Liberal Party in December.

CORPORATES
UNIVERSITY OF NOTRE DAME, LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE

Industrial umpire fair game for Labor wage push

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Original article by Ben Packham
The Australian – Page: Online : 11-Mar-19

Opposition finance spokesman Jim Chalmers says Labor would "encourage" the Fair Work Commission to deliver a living wage for workers if it wins the next election. Finance Minister Mathias Cormann claims that Labor is guilty of falsehoods when it contends pushing up wages through the FWC would not lead to higher unemployment. The FWC is required by law to take into account various criteria when making its yearly minimum wage decisions; Labor has refused to state whether it would enact legislation to change this criteria, fearing an outcry from business.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, MINERAL COUNCIL OF AUSTRALIA

Morrison government backs down on banning Milo Yiannopoulos in face of backlash

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Original article by Bevan Shields
The Sydney Morning Herald – Page: Online : 9-Mar-19

Immigration Minister David Coleman will grant controversial right-wing speaker Milo Yiannopoulos a visa to undertake an Australian tour. This follows a backlash against a Home Affairs letter that outlined a number of reasons why Yiannopoulos would fail the character test that the federal government has previously used to ban a number of people from entering Australia. Sky News host Andrew Bolt has described the attempt to ban Yiannopoulos from entering Australia as "pathetic", while Labor immigration spokesman Shayne Neumann says Yiannopoulos "has no place in Australia".

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN LABOR PARTY

Tony Abbott’s Paris backflip reveals the emptiness of last year’s leadership madness

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Original article by David Crowe
The Sydney Morning Herald – Page: Online : 8-Mar-19

Tony Abbott has backtracked on his call for Australia to pull out of the Paris climate agreement. Abbott was all for pulling out of the agreement last July, and it is now clear that his crusade was all about trying to hurt then Prime Minister Malcolm Turnbull and replacing him with a new leader, rather than energy policy. Abbott is clearly worried that Zali Steggall, who is running against him as an independent candidate and who has been campaigning strongly on climate action, has a good chance of beating him.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Ten pins hopes on Rugby World Cup

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Original article by Zoe Samios
The Australian – Page: Online : 11-Mar-19

Network Ten has secured the free-to-air and digital rights to the 2019 Rugby World Cup, which will be held in Japan from 20 September to 2 November. The final will be held on the same day as Derby Day during the Melbourne Cup carnival. Ten CEO Paul Anderson says the Rugby World Cup will be the biggest sporting event in the world in 2019, while he has declined to state how much Ten paid for the rights. Ten’s deal gives it the rights to 10 World Cup matches across linear television and broadcast video on demand, including all games featuring Australia

CORPORATES
TEN NETWORK HOLDINGS LIMITED, FOXTEL MANAGEMENT PTY LTD