Author: roymorgansocial

No criminal charges for anyone implicated in leaking information in AWU raids case

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Original article by Matthew Doran
abc.net.au – Page: Online : 15-Jan-19

The Commonwealth Director of Public Prosecutions believes that there is little chance of securing any convictions over media leaks regarding raids on the offices of the Australian Workers’ Union in October 2017. An Australian Federal Police spokeswoman says that as there is no prospect of criminal charges, the investigation into the affair will be discontinued. The senior media adviser to former Employment Minister Michaelia Cash resigned over the leak, although Cash herself denied that her office had any knowledge of the leak.

CORPORATES
AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS

Health insurers’ poor prognosis

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Original article by Sarah-Jane Tasker
The Australian – Page: 17 & 19 : 15-Jan-19

HBF CEO John Van Der Wielen says that affordability concerns remain an issue for the health insurance sector. Members Own Health Fund CEO Matthew Koce warns that even a small fall in private health insurance membership could have a big impact on the public hospital system, given that 40 per cent of medical procedures are carried out in private hospitals. Dwayne Crombie of Bupa notes that not everyone understands the community-rated health system under which health insurers operate; the system means that costs are spread across all fund members.

CORPORATES
HBF HEALTH LIMITED, MEMBERS OWN HEALTH FUNDS LIMITED, BUPA AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, THE HOSPITAL CONTRIBUTIONS FUND OF AUSTRALIA LIMITED, NIB HOLDINGS LIMITED – ASX NHF

Fair Work boss sidelines Coalition appointees

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 1 & 6 : 15-Jan-19

The federal government appointed six new deputy presidents to the Fair Work Commission in late 2018. Such appointees traditionally hear full bench cases, but FWC president Iain Ross has told members of the commission that most of the deputy presidents will only handle relatively minor matters such as conciliation work. The majority of the new appointees have an employer background, which prompted Labor to accuse the government of "stacking" the FWC.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, ACTU, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), BHP GROUP LIMITED – ASX BHP, EXXONMOBIL AUSTRALIA PTY LTD, THE NATIONAL ELECTRICAL CONTRACTORS’ ASSOCIATION, NSW BUSINESS CHAMBER LIMITED, AUSTRALIAN BUSINESS LIMITED, CORRS CHAMBERS WESTGARTH

Ports, mine targeted in CFMEU hit

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 15-Jan-19

Hutchison Ports Australia will be subject to industrial action by the militant Construction, Forestry, Maritime, Mining & Energy Union. Work bans will commence on 17 January, in response to the stevedoring group’s push to reduce pay rates and leave entitlements under a new workplace agreement. Hutchison will apply for an order from the Fair Work Commission requiring the union to give five days’ notice prior to launching the industrial action. Meanwhile, CFMMEU members at the Wongawilli Colliery in New South Wales have voted to extend strike action for a second week.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, HUTCHISON PORTS AUSTRALIA PTY LTD, WOLLONGONG COAL LIMITED – ASX WLC, JINDAL STEEL AND POWER LIMITED, CAS MINE SERVICES PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Fortescue could benefit from Rio’s port blaze

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Original article by Paul Garvey
The Australian – Page: 19 : 15-Jan-19

Lower-grade iron ore is currently trading at a discount of about 27 per cent to the benchmark price, compared with 45 per cent a year ago. Peter O’Connor of Shaw & Partners says the discount may narrow further in the wake of a fire at the port of Cape Lambert in Western Australia. Rio Tinto ships about 30 million tonnes of lower-grade iron ore via Cape Lambert, and while it still assessing the damage, it has declared force majeure over shipments from the port. Fortescue Metals Group ships some 170 million tonnes of lower-grade iron ore each year.

CORPORATES
RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP GROUP LIMITED – ASX BHP, SHAW AND PARTNERS LIMITED

Banks’ big legal year to get busier amid Hayne fallout

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Original article by Misa Han
The Australian Financial Review – Page: 17 : 15-Jan-19

Westpac, National Australia Bank, AMP and IOOF Holdings are among the financial services groups that will be subject to legal action in 2019. Further legal action in the sector is expected in the wake of the financial services royal commission. Josh Mennen of law firm Maurice Blackburn has flagged mortgage lending practices as an area that could attract legal action. There are also indications that the Australian Securities & Investments Commission will be more willing to pursue legal action against banks in 2019.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AMP LIMITED – ASX AMP, IOOF HOLDINGS LIMITED – ASX IFL, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, MAURICE BLACKBURN PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SLATER AND GORDON LIMITED – ASX SGH, GILBERT AND TOBIN LAWYERS, HERBERT SMITH FREEHILLS PTY LTD, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES, SWINBURNE UNIVERSITY OF TECHNOLOGY

Blueberry oversupply alarms farmers

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Original article by Tim Boyd
The Australian Financial Review – Page: 8 : 14-Jan-19

Cheaper blueberries were one of the factors behind the Costa Group unveiling a profit downgrade on 10 January, an announcement that saw its shares fall by 39 per cent in a single day’s trade. Blueberry farmers say that cheap prices are the result of oversupply. Brackenridge Berries owner and manager Jenny Kompara-Tosio says prices have fallen to around $2 a punnet, a level at which it is difficult to make any money. Fellow blueberry farmer Otto Saeck says it has been a tough year for growers.

CORPORATES
COSTA GROUP HOLDINGS LIMITED – ASX CGC, BRACKENRIDGE BERRIES

Australian winemakers stockpile supplies in Europe as hard Brexit beckons

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Original article by Hans van Leeuwen
The Australian Financial Review – Page: 3 : 14-Jan-19

The prospect of a no-deal Brexit presents a big headache for the Australian wine industry. Australia is the biggest source for UK wine imports, with about 240 million litres of Australian wine exported to the UK each year. Of that, 80 per cent is sent in bulk and is bottled in the UK, with 25 per cent of that then being re-exported to the European Union. A no-deal Brexit is likely to result in delays in shipments of Australian wine from the UK as a consequence of new customs procedures. Winemakers are already stockpiling supplies in Europe, while in the longer term they may decide to choose to bottle wine in Europe or export bottled wine directly from Australia to Europe.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, CASELLA WINES PTY LTD, AUSTRALIAN VINTAGE LIMITED – ASX AVG, THE YALUMBA WINE COMPANY, ACCOLADE WINES LIMITED

Shorten super tax net to trap a million

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Original article by Rosie Lewis, Adam Creighton
The Weekend Australian – Page: Online : 12-Jan-19

Treasury analysis indicates up to one million Australians could be impacted by superannuation tax changes if Labor wins the next election. Labor’s planned changes include a cut to the cap on non-concessional superannuation contributions that people can make each year, and a reduction in the high-income super contribution threshold. The self-employed and mothers returning to work from maternity leave are among those most likely to be affected by Labor’s changes.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, RICE WARNER ACTUARIES PTY LTD

Australia Day ceremonies to be made compulsory

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Original article by Greg Brown
The Australian – Page: Online : 14-Jan-19

Prime Minister Scott Morrison will force local councils to hold citizenship ceremonies on Australia Day, while he will also introduce a dress code for ceremonies. Morrison has rejected Labor leader Bill Shorten’s claim that the government was trying to politicise Australia Day, with his action following the decision of some councils not to hold citizenship ceremonies on Australia Day out of respect to indigenous Australians. Shorten noted that 530 of Australia’s 537 councils hold citizenship ceremonies on Australia Day, while he said he had no plans to change Australia Day from 26 January if Labor wins the next election.

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