Author: roymorgansocial

Carbon rule threatens WA projects

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Original article by Brad Thompson, Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 9 : 8-Mar-19

Western Australia’s Environmental Protection Authority has issued guidelines regarding new emissions-intensive projects. It states that any new or expanded project that emits over 100,000 tonnes of carbon dioxide a year should be carbon neutral. The new guidelines potentially jeopardise new LNG projects worth over $45 billion, although EPA chairman Tom Hatton notes that its decisions are not binding on the state government.

CORPORATES
WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED, THE WILDERNESS SOCIETY

Wonder Woman on top and Captain Marvel one to watch

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Mar-19

A Roy Morgan Young Australian Survey has found that Wonder Woman is the favourite superhero for kids aged 6-13. An estimated 394,000 kids picked Wonder Woman as their favourite superhero in the year to December 2018, up 137,000 from the previous year. Wonder Woman’s biggest supporters are unsurprisingly young girls, picked by 383,000 girls in 2018, up 131,000 from a year ago. However, Wonder Woman has yet to win over the boys, picked by only 11,000 boys. Roy Morgan CEO Michele Levine says Wonder Woman’s appeal as a leading superhero is growing and with Captain Marvel opening in Australia this week, ‘Female-centred’ superhero films are a new growth area for film makers looking to cash in on the appeal of ‘Female-led’ movies.

CORPORATES
ROY MORGAN LIMITED

Former PM Malcolm Turnbull slams Liberal Party in BBC interview

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Original article by
News.com.au – Page: Online : 8-Mar-19

Former prime minister Malcolm Turnbull has claimed in an interview with British journalist Andrew Neil that he was ousted because the Liberal Party believed that he would win the 2019 election. Turnbull maintains that the Coalition had been in a winnable position when he was ousted in August. He says public opinion polls of the time showed that support for the Coalition and Labor was evenly split, and that the Coalition was ahead in marginal seats. Turnbull adds that the Liberals can still win the election, but notes that successor Scott Morrison is faring worse than him in the polls.

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

Nat MPs ignite energy war

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Original article by Joe Kelly
The Australian – Page: 1 & 5 : 7-Mar-19

Michelle Landry and George Christensen are among six National Party MPs who have called for the federal government to press ahead with legislation to force energy companies to divest assets if they fail to reduce electricity prices. The legislation was recently put on hold, but the six Nationals MPs want it to be debated by parliament in April. They also want the government to agree to underwrite a new power generation project in regional Queensland prior to the upcoming election, and some have expressed a preference for a clean coal plant.

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

Health insurers call for workplace FBT break

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Original article by Sarah-Jane Tasker
The Australian – Page: 21 : 7-Mar-19

Private health insurance industry executives have urged the federal government to exempt employer-sponsored health insurance from the fringe benefits tax regime. Medicare CEO Craig Drummond argues that such a move would help reduce the strain on the health system, a view shared by HBF CEO John Van Der Wielen. Members Health Fund Alliance CEO Matthew Koce questions why salary packaging can include cars but not health insurance policies.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, HBF HEALTH LIMITED, MEMBERS HEALTH FUND ALLIANCE, NIB HOLDINGS LIMITED – ASX NHF, BUPA AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY

Reprieve for Myer as profits rise

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Original article by Eli Greenblat
The Australian – Page: 17 & 27 : 7-Mar-19

Department store group Myer Holdings has posted a 2018-19 interim profit of $38.4m, compared with a writedown-marred loss of $476m for the previous corresponding period. Myer’s underlying profit was up 3.1 per cent at $41.3m, but sales fell by 2.8 per cent to $1.67bn. CEO John King says Myer will continue to sale overseas fashion brands, but it will seek to increase its in-house brands’ share of group sales from 17.5 per cent to 20 per cent.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED

Resources boom gives government wriggle room

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Original article by David Uren
The Australian – Page: 4 : 7-Mar-19

Higher commodity prices in 2018 resulted in nominal GDP growth of 5.5 per cent for the calendar year. The mid-year Budget update in December had forecast nominal GDP growth of 4.75 per cent in 2018-19 and just 3.5 per cent in 2019-20. Treasury is likely to revise these forecasts in the April 2019 Budget, although it is expected to scale back economic growth forecasts in response to the national accounts data for the December quarter. Meanwhile, company and personal income tax revenue rose by 11.8 per cent and 7.6 per cent respectively in 2018.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA

Jail for employers exploiting workers

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 7 : 7-Mar-19

The federal goverment has expressed in-principle support for the 22 recommendations made in the report of the Migrant Workers’ Taskforce. The report found that many migrant workers are victims of wage exploitation, and recommended harsher penalties for underpayment. The government is set to announce criminal sanctions for "clear, deliberate and systemic" underpayment of works, despite opposition from employers’ groups. It also intends to establish a national labour-hire registration scheme covering industries where wage exploitation is widespread.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, 7-ELEVEN STORES PTY LTD, AUSTRALIAN LABOR PARTY

Shorten talks up living wage bid

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Original article by Ewin Hannan
The Australian – Page: 4 : 7-Mar-19

Australian Chamber of Commerce & Industry CEO James Pearson has warned that a significant increase in minimum wage would result in job losses, a reduction in hours of work for many people and business failures. He was responding to comments by Opposition Leader Bill Shorten, who has told a business summit that the minimum wage is too low and is no longer a living wage. ACTU secretary Sally McManus has again reiterated the need for a living wage.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF THE TREASURY

Chronican to steer NAB out of trouble

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Original article by Richard Gluyas
The Australian – Page: 17 & 21 : 7-Mar-19

National Australia Bank’s interim CEO Phil Chronican will succeed Ken Henry as chairman. There had been speculation that Chronican could be a contender to replace Andrew Thorburn as CEO, but Chronican says he did not want to commit to the arduous role of CEO on a permanent basis. Chronican adds that he does not expect the process of recruiting Thorburn’s successor to take very long. Henry and Thorburn both resigned following the release of the Hayne royal commission’s final report, which heavily criticised both men.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ