Author: roymorgansocial

Tighter rein on Google, Facebook

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Original article by Lilly Vitorovich
The Australian – Page: 3 : 13-Feb-19

Free TV Australia CEO Bridget Fair has stressed the need for greater regulation of digital platforms to ensure that the rights of content producers are protected. A report commissioned by the British government has recommended the creation of a regulator to monitor the quality of news that is distributed by digital giants such as Google and Facebook. The Australian Competition & Consumer Commission is slated to deliver the final report of its own review of digital platforms in early June.

CORPORATES
FREE TV AUSTRALIA LIMITED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TELSYTE PTY LTD

Cash economy investigation reaps $2.7b from builders

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Original article by Tom McIlroy
The Australian Financial Review – Page: 11 : 13-Feb-19

The Australian Taxation Office has used data matching technology to recover some $2.7bn worth of tax revenue associated with payments to contractors and subcontractors in the construction industry. The crackdown on the cash economy has targeted contractors who fail to declare all income or use false Australian Business Numbers to avoid tax liabilities. The crackdown has also targeted businesses such as cleaning and courier firms.

CORPORATES
AUSTRALIAN TAXATION OFFICE

ANZ-Roy Morgan Australian Consumer Confidence tumbles to 114.1

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Feb-19

ANZ-Roy Morgan Australian Consumer Confidence 3.4% to 114.1 in the week ended 10 February, taking the index to a three-month low. Households’ views towards current financial conditions fell 7.1%, taking the subindex back to where it was in November, but still quite some way above the long-run average. Households’ views towards future financial conditions fell by a more subdued 1.6%. Meanwhile, consumers’ views toward current economic conditions fell by 3.2%, its first fall after three straight weekly gains, while future economic conditions fell by 3.8%. The ‘time to buy a household item’ sub-index fell 1.6%, its fourth straight weekly loss and taking it back to where it was at the end of October.

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

Katter hands PM a temporary reprieve

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Original article by Rosie Lewis, Richard Gluyas
The Australian – Page: 5 : 13-Feb-19

Financial Services Council CEO Sally Loane has cautioned against rushing legislation through parliament in response to the final report of the financial services royal commission. Meanwhile, independent MP Bob Katter has signalled that he will not support Labor’s push to recall parliament for an additional two weeks in March to implement some of the inquiry’s recommendations. He argues that the federal government should take action immediately. Katter has also described the royal commission’s recommendations as "worthless".

CORPORATES
FINANCIAL SERVICES COUNCIL, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, NATIONAL PARTY OF AUSTRALIA

Prime Minister Scott Morrison talks down threat to Coalition after loss in Parliament vote

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Original article by Brett Worthington
abc.net.au – Page: Online : 13-Feb-19

Prime Minister Scott Morrison has ruled out calling an early election after the House of Representatives narrowly passed a bill to allow doctors to approve the transfer of asylum-seekers to Australia for medical treatment. The amendments to a federal government migration bill were passed 75-74 after being backed by Labor and the majority of crossbenchers. The government had released legal advice from Solicitor-General Stephen Donaghue which suggested that the so-called medivac bill could be in breach of the ­Constitution.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. OFFICE OF THE GOVERNMENT SOLICITOR

Palmer’s New Year Advertising Blitz fails to attract voters – United Australia Party at 1%

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Feb-19

Clive Palmer has been ubiquitous on Australian screens – whether TV, mobile, tablet, or computer over the last few weeks, but the latest Roy Morgan Poll conducted with 1,673 electors over the last fortnight shows that Palmer’s 2019 advertising blitz has failed to convince Australians to give the former Fairfax MP another chance in Federal politics. Palmer’s newly rebranded United Australia Party (UAP) is attracting only 1% of the vote and trails fellow Queensland based party One Nation on 3% support. In total 29.5% of Australians are supporting minor parties and independents, but this figure is dominated by the Greens (12.5%) and Independents/Others (11.5%). The remaining 5.5% is spread between One Nation, UAP, Katter’s Australian Party, Australian Conservatives and the Christian Democratic Party. The ALP (36%) leads the L-NP (34.5%) on primary votes and the ALP enjoys a comfortable two-party preferred lead over the L-NP on the back of Greens preferences. Greens preferences traditionally flow to the ALP on a ratio of 80% cf. 20%. Roy Morgan has in-depth demographic and voting data for all 151 Australian electorates as Australians head toward a Federal Election due in three months’ time.

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MORGAN POLL, ROY MORGAN LIMITED, UNITED AUSTRALIA PARTY, ONE NATION PARTY, KATTER’S AUSTRALIAN PARTY, AUSTRALIAN CONSERVATIVES, CHRISTIAN DEMOCRATIC PARTY, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS

Banks’ election risks rise

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Feb-19

Labor requires 76 votes in the lower house to force parliament to sit for an additional two weeks to legislate some of the Hayne royal commission’s recommendations. The support of crossbenchers may be crucial, and independent MP Bob Katter says he may be prepared to back Labor’s motion. This could potentially see the government abandon a deal struck with Katter regarding supply and confidence following the Wentworth by-election. Prime Minister Scott Morrison argues that there is insufficient time before the election to enact all of Hayne’s recommendations that will require legislation.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Iron and coal to deliver surprise budget bonanza

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Original article by David Uren
The Australian – Page: 6 : 12-Feb-19

Federal government revenue will be boosted by the recent rally in the prices of Australia’s key export commodities. The mid-year budget update had forecast that the iron ore price would average $US55 per tonne in the first half of 2019, but it is widely tipped to reach $US100/tonne in coming days. The price of coking coal also remains well above the budget update’s forecast. Chris Richardson of Deloitte Access Economics expects the government to use the revenue gains to provide cash hand-outs in the April 2019 Budget.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Gas prices are resilient to LNG softness

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 12-Feb-19

Cooper Energy is seeking to market around 21 petajoules of gas in 2019-20, while its $355 million Sole gas project off the coast of Victoria is nearing completion. CEO David Cooper says talk of gas prices of between $13 and $15 per gigajoule has eased due to the weaker LNG export market, but buyers are still seeking to buy gas at prices between $9 and $11 per gigajoule. He says Cooper Energy does not tell users what they must pay.

CORPORATES
COOPER ENERGY LIMITED – ASX COE, O-I AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SENEX ENERGY LIMITED – ASX SXY

Henry should not pick new NAB chief: Costello

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 18 : 12-Feb-19

Former federal treasurer Peter Costello suggests that regulators’ failure to prosecute misconduct in the financial services sector was due to reluctance to enforce the law rather that funding constraints. Costello also believes that it is inappropriate for National Australia Bank chairman Ken Henry to oversee the appointment of a new CEO. Henry will step down after a successor to Andrew Thorburn is recruited. Costello adds that bank directors and executives must prioritise compliance with the law in the wake of the financial services royal commission.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC