Author: roymorgansocial

Renewables target: 82 per cent of no chance

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Original article by Greg Brown
The Australian – Page: 1 & 6 : 4-Feb-25

Australian Chamber of Commerce & Industry CEO Andrew McKellar doubts that the federal government’s 2030 renewable energy target is realistic. He says Labor will need to reconsider its goal of having 82 per cent of the nation’s electricity generated via renewables by the end of the decade. McKellar contends that while renewables will be the ‘backbone’ of the energy grid in the medium to longer term, there will need to be a strong focus on gas exploration, production and supply in the near-term. Council of Small Business Organisations Australia CEO Luke Achterstraat agrees that the renewables target should be reviewed.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

Visa plan a golden invitation for crime

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Original article by Stephen Rice
The Australian – Page: 6 : 4-Feb-25

Sir Bill Browder has attacked plans by Opposition leader Peter Dutton to consider reinstating the significant investor visa if the Coalition wins the federal election. Dubbed the ‘golden ticket’ visa, they were given to people who committed to invest $5 million if they were granted entry to Australia, but they were scrapped by the federal government last year after it was revealed they were being used by foreign criminals and corrupt regime officials to secure Australian citizenship. Sir Bill was the main force behind the creation of the Magnitsky laws, which sanction human rights abusers and corrupt officials; he claims that bringing back the significant investor visa would amount to "reopening the door to organised crime".

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Dark money totalling $67.2m flowed to Labor, Coalition and Greens in 2023-24

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Original article by Dan Jervis-Bardy, Sarah Basford Canales
The Guardian Australia – Page: Online : 4-Feb-25

Data from the Australian Electoral Commission shows that Labor, the Coalition and the Greens declared a total of $156m in political donations for the last financial year. Labor and its state branches received $67.5m worth of political donations in 2023-24; the Coalition received $72.2m and the Greens received $17.1m. However, the four major political parties did not declare the source of a combined $67.2m worth of donations. These financial contributions were below the disclosure threshold of $16,300 which the federal government wants to reduce this to just $1,000. Rob Keldoulis was the biggest individual political donor in 2023-24, contributing $1.1m to the Climate 200 organisation personally and via his private investment company.

CORPORATES
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, CLIMATE 200 PTY LTD

Axe the red tape: Big business presses for Trump-like attack on regulation

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Original article by Shane Wright
The Age – Page: Online : 4-Feb-25

The Business Council of Australia has urged the federal government and the opposition to adopt a Donald Trump-like attack on red tape, contending living standards will fall if business regulation is not reduced. The BCA’s biggest wish is for the creation of a minister for deregulation, while the BCA would like to see the Productivity Commission come up with an annual list of regulations that could be eliminated. Along with reduced regulation, the BCA would also like to see the company tax rate cut to 25 per cent, the adoption of investment allowances for all businesses and a possible increase to the GST.

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BUSINESS COUNCIL OF AUSTRALIA

NAB cuts rates ahead of Reserve

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Original article by Cameron Micallef
The Australian – Page: 19 : 4-Feb-25

National Australia Bank has pre-empted the Reserve Bank’s upcoming monetary policy decision by reducing some of its mortgage interest rates. NAB has become the first major bank to cut its fixed interest rates in 2025, although Sally Tindall from Canstar expects rival banks to do so as well. Canstar notes that NAB has reduced its fixed rates for owner-occupiers by up to 0.25 percentage points, while fixed interest rates for property investors have been cut by up to 0.3 percentage points. The RBA is widely tipped to reduce the cash rate at its board meeting in mid-February.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, CANSTAR PTY LTD

AusSuper tipped $500m into Nvidia before DeepSeek crash

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Original article by Joshua Peach
The Australian Financial Review – Page: 20 : 4-Feb-25

Corporate filings with the US Securities & Exchange Commission show that AustralianSuper ramped up its investment in semiconductor manufacturer Nvidia during the second half of 2024. The industry superannuation fund bought 2.42 million shares in Nvidia in the December quarter; based on the stock’s average price during the period, AustralianSuper is estimated to have paid around $US304m ($489m) to increase its total exposure to Nvidia to more than $US1bn at the end of 2024. Nvidia’s market value subsequently fell by $US600m on 27 January, in response to revelations about China’s DeepSeek artificial intelligence model.

CORPORATES
AUSTRALIANSUPER PTY LTD, NVIDIA CORPORATION, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION

Roy Morgan Poll: ALP and Coalition are now level on two-party preferred terms

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

If a Federal Election were held now the result would be a hung parliament and ‘too close to call’, with the ALP on 50% (up 2%) and Coalition on 50% (down 2%) on a two-party preferred basis. The ALP or Coalition would require the support of minor parties and independents to form a minority government, the latest Roy Morgan survey finds. Primary support for the Coalition dropped 2% to 38.5%, the ALP increased 0.5% to 30%, the Greens were unchanged at a 12-month low of 11.5%, One Nation dropped 0.5% to 5.5%, Other Parties were up 0.5% to 4% and Independents increased 1.5% to 10.5%.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Olympic Dam gets a $40m injection

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Original article by Cameron England
The Australian – Page: 16 : 4-Feb-25

A joint venture between Fluor Australia and Hatch has been awarded a major contract for the proposed expansion of BHP’s copper smelter and refinery at its Olympic Dam project. BHP’s procurement officer Rashpal Bhatti says the two companies that were selected for the $40m engineering, procurement and construction management contract have "significant shared experience" in delivering major projects. BHP expects to make a final investment decision on the expansion during the first half of the 2026–27 financial year.

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BHP GROUP LIMITED – ASX BHP, FLUOR AUSTRALIA PTY LTD, HATCH ENGINEERING

ACTU calls for a ban on employee lockouts

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Original article by Ewin Hannan
The Australian – Page: 7 : 30-Jan-25

Australian Industry Group CEO Innes Willox has urged the federal government to reject the ACTU’s push for legislative changes to ban employers from locking out their workers. ACTU secretary Sally McManus contends that reforms are needed to prevent employers from ‘abusing their power’. Her comments were made after visiting the Opal paper mill in Victoria, where its entire workforce has now been locked out for 13 days in retaliation for industrial action by a small number of staff. Willox has described the ACTU’s stance as an ‘extreme’ attack on the collective bargaining rights of employers.

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OPAL, ACTU, THE AUSTRALIAN INDUSTRY GROUP

Inflation fall fuels election fight

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Original article by Greg Brown, David Rogers
The Australian – Page: 1 & 4 : 30-Jan-25

Treasurer Jim Chalmers says a ‘soft landing’ for the Australian economy is becoming "more and more likely" following the release of CPI data for the December quarter. The headline inflation rate fell 0.4 per cent to 2.4 per cent in the year to December; the Reserve Bank’s preferred measure of underlying inflation eased to 3.2 per cent, below the central bank’s own expectations of 3.4 per cent. Three of Australia’s four major banks now expect an official interest cut in February. However, Warren Hogan from Judo Bank says the economic case for a rate cut is very weak; he notes amongst other things that core inflation remain above the RBA’s target range of 2-3 per cent, while the cost-of-living crisis is still a major issue for many Australians.

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AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, JUDO BANK PTY LTD