Author: roymorgansocial

Our carbon cut apocalypse

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 21-Feb-19

Former bureaucrat Brian Fisher has undertaken independent modelling of the economic impact of the climate change policies of Labor and the Coalition. The modelling suggests that Labor’s policy would result in cumulative economic losses of $472bn over the 10 years to 2030, compared with $70bn under the Coalition’s policy. Labor’s policy would also result in 336,000 fewer jobs in 2030 and an eight per cent fall in real wages; in contrast, there would be about 78,000 fewer jobs under the Coalition’s policy, while real wages would be two per cent lower. Fisher was the chief adviser on climate policy to both Labor and Coalition governments.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN BUREAU OF AGRICULTURAL AND RESOURCE ECONOMICS AND SCIENCES, BAECONOMICS PTY LTD, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE

BHP shares rise on dividend optimism

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Original article by Paul Garvey
The Australian – Page: 21 : 21-Feb-19

Investors have welcomed BHP’s latest interim financial results, with its share price closing at a long-term high of $37.94 on 20 February. The stock has gained 35.5 per cent in the last year and is now trading at or above the share price targets of seven out of the 12 analysts who are tracked by Bloomberg. BHP has flagged a strong rise in full-year profit if commodity prices remain at current levels, while it announced an interim dividend of $US0.55 per share.

CORPORATES
BHP GROUP LIMITED – ASX BHP, BLOOMBERG LP, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD

Isuzu UTE wins Best of the Best award for 2018

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Feb-19

Commercial vehicle manufacturer Isuzu UTE has been named as the winner of the Roy Morgan Customer Satisfaction Award – ‘Best of the Best’ – taking the mantle from fellow car manufacturer Lexus. The ‘Best of the Best’ award goes to the company that achieved the highest customer satisfaction of all 32 winners at the 2018 Annual Roy Morgan Customer Satisfaction Awards. Isuzu UTE ended the year with six straight victories in the demanding Car Manufacturer of the year category. Other car manufacturers to perform exceptionally well in 2018 included Skoda and Suzuki, which both managed multiple monthly victories. Isuzu UTE averaged customer satisfaction of 96.1% in 2018 to improve on Lexus’s average of 95.8% a year ago and finishing in front of two-time runner-up and Supermarket of the Year Foodland on 93.5%. Other category winners to perform strongly included Liquor Store of the year Dan Murphy’s on 93.3%, Bank of the Year Heritage Bank on 92.9% and General Insurer of the Year RACT on 92.3%.

CORPORATES
ROY MORGAN LIMITED, ISUZU UTE AUSTRALIA PTY LTD, SKODA AUTOMOBILOVA AS, SUZUKI AUSTRALIA PTY LTD, LEXUS AUSTRALIA, FOODLAND AUSTRALIA LIMITED, DAN MURPHY’S, HERITAGE BANK LIMITED, RACT INSURANCE PTY LTD

Roy Morgan announces winners of the 2018 Customer Satisfaction Awards

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Feb-19

Roy Morgan has announced the winners of its eighth annual Customer Satisfaction Awards for Australia. The awards recognise outstanding levels of customer satisfaction, as judged by more than 50,000 consumers via the Roy Morgan Single Source survey. The award categories cover sectors such as banking, insurance, superannuation, automotive, travel and hospitality, retail, telecommunications and utilities. Roy Morgan CEO Michele Levine says the Roy Morgan Customer Satisfaction Awards continue to be the benchmark by which customer satisfaction is measured, and the 32 businesses honoured in the 2018 awards share one crucial characteristic: their unrivalled dedication to ensuring their customers are satisfied, and their success as rated by their customers.

CORPORATES
ROY MORGAN LIMITED, HERITAGE BANK LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, PEOPLE’S CHOICE CREDIT UNION, RACT INSURANCE PTY LTD, ST LUKE’S HEALTH INSURANCE, INSURANCELINE HOLDINGS PTY LTD, MACQUARIE SUPERANNUATION, CATHOLIC SUPER, AUTOBARN PTY LTD, DONUT KING, ROCKMANS STORES LIMITED, MYER HOLDINGS LIMITED – ASX MYR, KMART AUSTRALIA LIMITED, THE REJECT SHOP LIMITED – ASX TRS, IKEA TRADING PTY LTD, BUNNINGS GROUP LIMITED, DISCOUNT DRUGSTORES PTY LTD, FASTA PASTA FAMILY RESTAURANTS PTY LTD, DAN MURPHY’S, WILLIAMS THE SHOEMEN, REBEL SPORT LIMITED, FOODLAND AUSTRALIA LIMITED, OPTUS TELEVISION, IINET LIMITED, APPLE INCORPORATED, VIRGIN MOBILE (AUSTRALIA) PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, SINGAPORE AIRLINES LIMITED, RED ENERGY PTY LTD, KLEENHEAT GAS PTY LTD, ISUZU UTE AUSTRALIA PTY LTD

Oil Search says gas output will double in PNG

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Original article by Perry Williams
The Australian – Page: 22 : 20-Feb-19

Oil Search has posted a 2018 net profit of $US341.2m, which is 13 per cent higher than previously, with revenue up six per cent to $US1.535bn. A sharp rise in the price of LNG and crude oil during the year helped offset a decline in full-year production due to an earthquake in Papua New Guinea early in the year. Oil Search still aims to double LNG production in PNG by 2024. Shareholders will receive a final dividend of $US0.085 per share, and a full-year payout of $US0.105 a share.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, EXXONMOBIL CORPORATION, TOTAL SA, RBC CAPITAL MARKETS

Union warns of action as deal rejected again

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Original article by Sian Powell
The Australian – Page: 31 : 20-Feb-19

Some 67 per cent of Victoria University’s employees have voted against an offer of a two per cent pay rise over five years. It follows a previous ballot in 2018 when 77 per cent of staff voted against the university’s pay deal. The National Tertiary Education Union has urged the university to put forward a new offer, flagging the possibility of industrial action if it fails to do so. The union argues that Victoria University’s block teaching program has increased staff workloads by up to 18 per cent.

CORPORATES
VICTORIA UNIVERSITY, NATIONAL TERTIARY EDUCATION INDUSTRY UNION

David Morgan reveals failed Westpac-CBA mega-merger

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Original article by Tony Boyd
The Australian Financial Review – Page: 1 & 2 : 20-Feb-19

The official biography of former Westpac CEO David Morgan outlines the bank’s proposed merger with the Commonwealth Bank of Australia in 1989, when he was the head of institutional banking at Westpac. The merger ultimately failed to proceed due to disagreement over leadership of the new entity. Westpac CEO Bob Joss was to have been overlooked in favour of CBA CEO David Murray, with Joss to be given the role of vice-chairman in charge of restructuring. CBA directors were also against Morgan and Westpac CFO Pat Handley joining the board of the combined group.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BT FINANCIAL GROUP PTY LTD, DBS BANK LIMITED, ST GEORGE BANK LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN LABOR PARTY, ACTU, MORGAN STANLEY AUSTRALIA LIMITED, JP MORGAN AUSTRALIA LIMITED

Labor waves new stick at big banks

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 20-Feb-19

Labor has unveiled draft laws to implement five recommendations of the Hayne royal commission which it believes can be implemented before the election. However, the federal goverment contends that Labor’s proposals are unworkable and have been rushed. The government is expected to release its own draft laws in coming days. Meanwhile, Labor proposes to require the CEOs of major banks to make twice-yearly reports to Parliament on their progress on implementing Hayne’s recommendations. The government in turn will give the Australian Financial Complaints Authority retrospective powers to hear financial complaints dating back to the start of 2008.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS

Criminal charges await bankers

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Original article by Michael Roddan
The Australian – Page: 3 : 20-Feb-19

The Australian Securities & Investments Commission released its response to the final report of the Hayne royal commission on 19 February. ASIC has disclosed that it is prioritising 11 instances of misconduct by eight companies or individuals in the banking sector that were referred to it by the inquiry, with a view to recommending criminal charges. ASIC is assessing an additional 16 cases to determine if there are grounds for prosecution, while it is also investigating 12 case studies that were presented to the royal commission but were not specifically referred to the corporate watchdog.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, FEDERAL COURT OF AUSTRALIA, NATIONAL AUSTRALIA BANK ASIA, DOVER FINANCIAL ADVISERS PTY LTD, CLEARVIEW WEALTH LIMITED – ASX CVW

Mackenzie defends dual purpose

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Original article by Paul Garvey
The Australian – Page: 22 : 20-Feb-19

US hedge fund Elliott Management recently argued that there is no reason for BHP to retain its dual-listed structure following a 2018 settlement with the Australian Taxation Office regarding its Singapore marketing hub. However, BHP CEO Andrew Mackenzie says other factors would need to be taken into account when deciding the future of its dual listing. Amongst other things, BHP would be removed from the FTSE Index if it were to have a primary listing in Australia, which may result in many UK investors existing its share register.

CORPORATES
BHP GROUP LIMITED – ASX BHP, ELLIOTT MANAGEMENT CORPORATION, AUSTRALIAN TAXATION OFFICE, FTSE 100 INDEX