Author: roymorgansocial

Leyonhjelm to quit Senate for state

roymorgansocial Leave a comment

Original article by Rosie Lewis
The Australian – Page: 2 : 8-Jan-19

The Liberal Democrats have yet to decide who will replace David Leyonhjelm on its Senate ticket for the upcoming federal election. Leyonhjelm has announced that he will not seek a third term in the Senate and will instead contest a seat in the New South Wales upper house at the state election in March. He will run against One Nation candidate Mark Latham, who resigned his membership of the Liberal Democrats in September. Leyonhjelm says he is now more interested in state rather than federal issues.

CORPORATES
LIBERAL DEMOCRATIC PARTY, ONE NATION PARTY, AUSTRALIAN LABOR PARTY, SHOOTERS, FISHERS AND FARMERS PARTY, CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), AUSTRALIAN BROADCASTING CORPORATION

Labor plans overhaul of job welfare

roymorgansocial Leave a comment

Original article by Rick Morton
The Australian – Page: 1 & 4 : 8-Jan-19

The Business Council of Australia and the Council of Small Business of Australia support Labor’s proposal for changes to the Jobactive system if it wins the 2019 federal election. Amongst other things, Labor will relax the requirement that unemployed people must apply for up to 20 jobs a month. The BCA argues that this creates an unnecessary cost for both businesses and job-seekers, as employers receive many application from people who are not qualified for a job. Labor may also make changes to the ‘Work for the Dole’ scheme.

CORPORATES
AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK

Manufacturing falls to two-year low

roymorgansocial Leave a comment

Original article by John Kehoe
The Australian Financial Review – Page: 3 : 8-Jan-19

The Australian Industry Group’s Australian Performance of Manufacturing Index declined 1.8 points to 49.5 in December. It was the lowest that the Index has been since August 2016. Five of the Index’s eight manufacturing sub-sectors expanded, while the report noted the strong performance of the Victorian manufacturing sector. The decline in Australian manufacturing activity mirrors the global economy, with the US and China having both recently recorded falls in manufacturing output.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, GOLDMAN SACHS AUSTRALIA PTY LTD, JP MORGAN CHASE AND COMPANY, IHS GROUP

Million face tax sting under Shorten

roymorgansocial Leave a comment

Original article by Adam Creighton, Rosie Lewis
The Australian – Page: 1 & 2 : 8-Jan-19

The Treasury estimates that about 580,000 Australians will pay the highest marginal income tax rate in 2018-19. However, modelling by the Treasury suggests that this could rise to nearly 1.1 million by 2025 if Labor wins the federal election and proceeds with plans to scrap the Coalition’s proposed increase in the threshold for the top tax rate from $180,000 to $200,000 in 2024-25. The modelling also shows that the number of people in the highest tax bracket would rise to 820,000 by 2024-25 under a Coalition government.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

After all the carnage, it may soon be time to buy

roymorgansocial Leave a comment

Original article by David Rogers
The Australian – Page: 18 : 8-Jan-19

The S&P/ASX 200’s recent rally has seen its 12-month forward price-to-earnings ratio return to its long-term average following a sharp sell-down in the December quarter. Meanwhile, the S&P 500 is trading at around eight per cent below its long-term average. The near-term outlook for equities may depend on a range of factors, including trade negotiations between the US and China.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S 500 INDEX, UNITED STATES. FEDERAL RESERVE BOARD, NIKKEI 225 INDEX, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, MSCI ALL COUNTRY WORLD INDEX

Resolute weighs up Ravenswood spin-off

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 13 & 14 : 8-Jan-19

Resolute Mining has advised that its gold production rose by 33 per cent to 73,691 ounces in the December 2018 quarter. Meanwhile, CEO John Welborn says a decision on the Ravenswood gold mine in Queensland will be made in the first half of 2019. Resolute is considering options such as a sale or spin-off for the Queensland mine as the company shifts its geographical focus to Africa. Resolute may also be open to acquiring assets that could be divested following the merger between Barrick Gold and Randgold Resources.

CORPORATES
RESOLUTE MINING LIMITED – ASX RSG, BARRICK GOLD CORPORATION, RANDGOLD RESOURCES LIMITED

Little time for strategy on busy boards: Mullen

roymorgansocial Leave a comment

Original article by Damon Kitney
The Australian – Page: 13 & 14 : 7-Jan-19

Telstra chairman John Mullen says there is a greater degree of resentment towards those who make it to the top of the business world when compared to those in fields such as sport and entertainment. Mullen, who is also the chairman of Toll Holdings, is also concerned that company boards do not have enough time to deal with strategy, due to having to spend too much time on corporate governance issues. He is worried that it will be harder to attract quality people to become company directors in the future.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, TOLL HOLDINGS LIMITED, OWNERSHIP MATTERS PTY LTD, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, AUSTRALIANSUPER PTY LTD, CGI GLASS LEWIS PTY LTD, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, ASCIANO LIMITED

Quicker power as Origin upgrades

roymorgansocial Leave a comment

Original article by Perry Williams
The Australian – Page: 13 & 14 : 7-Jan-19

Origin Energy has upgraded its 224-megawatt Quarantine gas peaking plant in South Australia. As a result of the upgrade, which involved the fitting of an aero-derivative unit, it will now take Origin just five minutes to supply power to the national electricity grid, down from 15 minutes previously. Origin executive Greg Jarvis says the flexibility of its gas peaking power stations will help to support the growth in electricity being derived from renewable energy sources.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, ENERGYQUEST PTY LTD, WOOD MACKENZIE

MPs to monitor foreign interference threats

roymorgansocial Leave a comment

Original article by Tom McIlroy
The Australian Financial Review – Page: 4 : 7-Jan-19

James McGrath says the joint standing committee on electoral matters will continue with its efforts to ensure that Australia’s electoral system remains free from foreign interference. McGrath is the chairman of the committee, and he says there has been no evidence to date of such interference, but that the need to be vigilant on such matters remains important. He says cyber interference has the potential to undermine confidence in Australian democracy.

CORPORATES
AUSTRALIA. JOINT STANDING COMMITTEE ON ELECTORAL MATTERS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Labor creating a rental famine

roymorgansocial Leave a comment

Original article by Greg Brown
The Australian – Page: 2 : 7-Jan-19

Liberal senator Dean Smith contends that young Australians would be most affected by Labor’s proposed changes to negative gearing. With 2.1 million renters aged between 20 and 34 in Australia, Smith says Labor’s plans represent an opportunity for the federal government to portray itself as a better option for voters in this age group. Shadow treasurer Chris Bowen says he would be happy to have a debate on whether Labor or the Coalition has the best housing policies for young people.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, SQM RESEARCH PTY LTD