Author: roymorgansocial

New industrial relations laws to simplify bargaining

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 14 : 7-Dec-18

Industrial Relations Minister Kelly O’Dwyer says amendments to the Fair Work Act will enable new enterprise bargaining agreements to take effect sooner. The Four Yearly Review and Other Measures Bill will allow the Fair Work Commission to ignore minor technical errors when approving EBAs. Unions had previously seized on such errors to block EBAs that they opposed. The FWC will also no longer be required to review modern awards every four years, a move that had the support of both unions and employers.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIAN LABOR PARTY, THE AUSTRALIAN INDUSTRY GROUP, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, ALDI STORES SUPERMARKETS PTY LTD, RETAIL AND FAST FOOD WORKERS UNION INCORPORATED, WOOLWORTHS GROUP LIMITED – ASX WOW, AUSTRALIAN BUREAU OF STATISTICS

PM’s big stick to be stuck in Senate

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Original article by Greg Bright
The Australian – Page: 6 : 7-Dec-18

The Senate’s standing committee on economics will examine the federal government’s bill to force electricity retailers to divest assets after Labor referred it to the upper house. The lower house debated the bill on 6 December, before parliament rose for the year, but further debate will not be possible until early April as the committee is not slated to report on the bill until 18 March. Shadow treasurer Chris Bowen has accused the government of trying to push the bill through the lower house with no scrutiny and minimal debate.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS

Affordability issue persists in spite of falls

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 33 : 7-Dec-18

The proportion of income needed to meet mortgage repayments fell by 0.8 per cent Australia-wide in the September quarter, according to the latest Adelaide Bank/REIA Housing Affordability Report. However, despite falling house prices, particularly in Sydney and Melbourne, housing affordability is down when compared to 2017. UBS has suggested that a looming credit crunch and more stringent lending conditions could restrict future buyers to loans that are no more than six times their household income; this means housing affordability may not improve even if house prices continue to fall.

CORPORATES
UBS HOLDINGS PTY LTD, MIRVAC GROUP – ASX MGR, STOCKLAND – ASX SGP, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, ADELAIDE BANK

Seven kicks off cricket’s new era

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 7-Dec-18

Seven West Media CEO Tim Worner says there has been a positive response to the Seven Network’s inaugural cricket broadcast under its new rights deal. The first day of the series against India marked the first time in four decades that the Nine Network has not broadcast Test matches played in Australia. Seven will also broadcast selected Big Bash League matches, while Foxtel has exclusive coverage of one-day internationals. The Nine Network in turn has replaced Seven as the free-to-air broadcaster of tennis in Australia.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, FOXTEL MANAGEMENT PTY LTD, BIG BASH LEAGUE, NINE NETWORK AUSTRALIA LIMITED, TENNIS AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, IPG MEDIABRANDS

Australia becomes an LNG force

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Original article by Perry Williams
The Australian – Page: 21 & 24 : 7-Dec-18

Data from Bloomberg shows that Australia’s LNG exports totalled 6.55 million tonnes in November 2018, surpassing Qatar (6.27 million tonnes) for the first time. Australia’s LNG shipments for the calendar year are expected to exceed 78 million tonnes, compared with 77 million tonnes for Qatar. Projects such as Ichthys will further boost Australia’s LNG exports, although both Qatar and the US intend to increase production. Meanwhile, official figures show that Australia’s revenue from LNG exports totalled $38.8bn in the year to October, while coal and iron ore revenue was $64.6bn and $61.6bn respectively.

CORPORATES
BLOOMBERG LP, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, INPEX CORPORATION, ROYAL DUTCH SHELL PLC, WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, S&P PLATTS

Reserve flags rate cut, cash splash

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Original article by Adam Creighton
The Australian – Page: 1 & 8 : 7-Dec-18

The Reserve Bank of Australia’s deputy governor Guy Debelle has indicated that there is potential for further monetary policy easing. The central bank has left the cash rate unchanged at 1.5 per cent since August 2016, and it has signalled in the past that a rate rise is more likely than a cut. Debelle has also indicated that the RBA could adopt a quantitative easing policy if it is considered necessary in order to stimulate the economy. He has also praised Labor’s fiscal stimulus at the onset of the global financial crisis, saying it was a key factor in the resilience of the domestic economy.

CORPORATES
RESERVE BANK OF AUSTRALIA, FITCH RATINGS LIMITED, BUSINESS COUNCIL OF AUSTRALIA, STANFORD UNIVERSITY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Mortgage customer satisfaction highest when obtained directly from bank branch

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-Dec-18

New research from Roy Morgan shows that Australian home loan customers who obtained their loan in person at a bank branch had a satisfaction rating of 78.7% in the six months to October 2018, compared to 74.2% for customers who used a mortgage broker. Other channels also had lower satisfaction, including mobile bankers (75.3%) and telephone (77.7%). It is important to note that even among more recent home loans (held for under six years), satisfaction with going into a branch to obtain the loan was 80.9% compared to 76.1% for mortgage brokers. The satisfaction of mortgage broker customers of the big four banks is well below the rating given by those that have obtained their loan in person at a branch. The biggest gap in satisfaction is among ANZ mortgage customers, where those using a broker have only 63.4% satisfaction, compared to 76.2% for those who used a branch directly. Of the major home loan banks, Bendigo Bank is clearly the satisfaction leader when dealing in person at a branch with 91.2%. Satisfaction with home loan customers using mortgage brokers is highest for St George (86.9%). Roy Morgan’s Single Source survey is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including over 12,000 mortgage holders.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BENDIGO BANK, ST GEORGE BANK LIMITED

Unemployment in November is 9.5% and under-employment is 7.7%

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-Dec-18

A Roy Morgan survey shows that 12,294,000 Australians were employed in November 2018, up 408,000 over the past year. The increase in employment was evenly shared, with part-time employment rising by 217,000 to 4,184,000 and full-time employment rising by 191,000 to 8,110,000. The figures also show that 1,291,000 Australians (9.5% of the workforce) were unemployed in November, virtually unchanged on a year ago but with the unemployment rate down by 0.3% due to growth in the workforce. In addition, 1,042,000 Australians (7.7% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 64,000 in a year (down 0.7%). This is the lowest level of under-employment since September 2016. In total 2,333,000 Australians (17.2% of the workforce) were either unemployed or under-employed in November, a decrease of 61,000 in a year (down 1%). Roy Morgan’s real unemployment figure of 9.5% for November remains substantially higher than the current ABS estimate for October of 5.0%. Roy Morgan CEO Michele Levine says the strong growth in employment appears to be directly related to the growth in the overall Australian workforce, with the level of unemployment virtually unchanged from a year ago.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Defeated Lib urged to take Kroger role

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Original article by Rachel Baxendale
The Australian – Page: 8 : 6-Dec-18

Robert Clark and Marcia Coleman are tipped to be contenders to succeed Michael Kroger as president of the Liberal Party of Victoria. There is also support within the party for John Pesutto to nominate for the presidency, after he lost the seat of Hawthorn at the state election. The former shadow attorney-general has indicated that he may also be open to taking up a seat in the upper house. Meanwhile, Michael O’Brien is widely expected to be elected as Liberal leader at a partyroom meeting on 6 December.

CORPORATES
LIBERAL PARTY OF VICTORIA, AUSTRALIAN LABOR PARTY

Full cost to party laid bare as counting ends

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Original article by Rachel Baxendale
The Australian – Page: 8 : 6-Dec-18

The Liberal and National parties will have just 28 seats in Victoria’s lower house in the state’s new parliament, compared with 37 prior to the election. Labor will have 56 seats in the Legislative Assembly after gaining 10 seats in the election rout, while the Greens will have three seats. Meanwhile, Labor is expected to have 18 seats in the upper house, with the Liberal Party set to have nine and crossbenchers to have up to 10 seats.

CORPORATES
LIBERAL PARTY OF VICTORIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, JUSTICE PARTY, REASON PARTY, LIBERAL DEMOCRATIC PARTY, SUSTAINABLE AUSTRALIA PARTY, ANIMAL JUSTICE PARTY, AUSSIE BATTLER PARTY