Author: roymorgansocial

Aspiring Liberal leader Pesutto may lose seat

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Original article by Ben Potter
The Australian Financial Review – Page: 7 : 29-Nov-18

Michael O’Brien and John Pesutto have declared that they will contest the Liberal Party of Victoria’s leadership following the resignation of Opposition leader Matthew Guy in the wake of the election rout. However, Pesutto may be ousted from the seat of Hawthorn, with Labor candidate John Kennedy taking a narrow lead in the latest vote counting. Labor is now expected to have about 55 seats in the new parliament, compared with around 28 for the Liberal-National coalition.

CORPORATES
LIBERAL PARTY OF VICTORIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, VICTORIA. DEPT OF PREMIER AND CABINET

Send them all to the High Court

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Original article by Rosie Lewis
The Australian – Page: 5 : 29-Nov-18

Independent MP Kerryn Phelps has declined to release legal advice regarding her eligibility to be in parliament, but says she will do so if she is referred to the High Court. Phelps adds that she is examining legal advice on the eligibility of Home Affairs Minister Peter Dutton and will decide whether to support his referral to the High Court in due course. Meanwhile, crossbencher Andrew Wilkie says every MP whose eligibility to be in parliament is in doubt should be referred to the High Court at the same time.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, HIGH COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Sentiment turns for Fortescue

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Original article by Paul Garvey
The Australian – Page: 19 : 29-Nov-18

Fortescue Metals Group expects to benefit from the recent decline in Chinese steel producers’ margins. Danny Goeman, the pure-play iron ore miner’s director of sales and marketing, notes that lower margins in the sector tend to boost demand for lower-grade iron ore, adding that this trend has occurred in recent days. The renewed demand for lower-grade ore has coincided with the first shipment of Fortescue’s higher-grade West Pilbara fines product, which is slated for December.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

Shark nets three on music’s night of nights

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Original article by Andrew McMillen
The Australian – Page: 3 : 29-Nov-18

Singer-songwriter Amy Shark was among the big winners in the 32nd annual ARIA Awards on 28 November. Shark won three awards, including best female artist and album of the year, and she has now won six ARIA awards in total. Pop quartet 5 Seconds of Summer also won three ARIA awards, while the late Geoffrey Gurrumul Yunupingu was named best male artist.

CORPORATES
AUSTRALIAN RECORDING INDUSTRY ASSOCIATION LIMITED

‘Human error’: News Corp salaries, redundancy entitlements emailed to staff

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Original article by Michael Evans
The Sydney Morning Herald – Page: Online : 29-Nov-18

News Corp Australia has blamed human error for the leaking of confidential salary information. More than 150 News Corp staffers were inadvertently sent an email which outlined the salary packages and redundancy entitlements of several senior employees of the media group. News Corp later issued a statement advising that three of the employees named in the email are leaving or have left the media group; it also said that one of those named "remains a respected member of the team".

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

ANZ compo for millions of accounts

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Original article by Ben Butler, Joyce Moullakis
The Australian – Page: 17 & 21 : 29-Nov-18

ANZ Bank CEO Shayne Elliott has conceded that it has taken far too long for the bank to compensate customers for losses incurred as a result of misconduct. Elliott has told the financial services royal commission that its remediation program is likely to embrace about two million accounts. However, he notes that some customers might have multiple account that qualify for compensation. Elliott also suggested that many of the governance issues at ANZ can be attributed to its business model under predecessor Mike Smith.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AMP LIMITED – ASX AMP, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ONEPATH AUSTRALIA LIMITED, IOOF HOLDINGS LIMITED – ASX IFL

War chest to help schools, hospitals

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Original article by David Uren, Michael Roddan
The Australian – Page: 1 & 4 : 29-Nov-18

Prime Minister Scott Morrison has indicated that an improved Budget position will allow the federal government to increase its investment in essential services. Amongst other things, Morrison has flagged a $37m funding increase for schools over 10 years and an extra $30bn for hospitals over five years. The Budget bottom line has been bolstered by higher revenue, but Martin Whetton of the ANZ Bank says the government may opt to use some of this windfall to finance new spending initiatives in the lead-up to the 2019 election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN LABOR PARTY, MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S FINANCIAL SERVICES LLC, AUSTRALIA. DEPT OF THE TREASURY, GROUP OF TWENTY (G-20), FINANCIAL STABILITY BOARD

Perth tipped to top house price growth

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Original article by Ingrid Fuary-Wagner
The Australian Financial Review – Page: 30 : 29-Nov-18

Domain economist Trent Wiltshire is upbeat about the residential property market in Perth, forecasting a five per cent increase in house prices during 2019. He cites factors such as a growing economy, a rising population, the development of new mines in the state and stronger commodity prices. Domain also forecasts that house prices in Melbourne will decline by one per cent in 2019 and Sydney prices will remain flat; prices in both cities are then tipped to rise by four per cent in 2020.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, RESERVE BANK OF AUSTRALIA, SQM RESEARCH PTY LTD, QBE INSURANCE GROUP LIMITED – ASX QBE, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

End of an era: Fairfax bows out of the ASX

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 29-Nov-18

Shares in Fairfax Media rose 2.3 per cent to $0.66 on 28 November, before the stock was suspended from trading ahead of its delisting. Fairfax’s merger with Nine Entertainment Company is slated to be completed on 7 December, with the combined entity set to begin trading three days later. Fairfax had listed on the stock exchange in its present form in May 1992, with its shares closing at $0.9086 on debut.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FEDERAL COURT OF AUSTRALIA, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, AURORA FUNDS MANAGEMENT LIMITED, AUSBIL INVESTMENT MANAGEMENT LIMITED, FIL INVESTMENT MANAGEMENT LIMITED, MACQUARIE MEDIA LIMITED – ASX MRN

Roy Morgan CEO Michele Levine talks to Stan Grant on "Matter Of Fact"

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Original article by Roy Morgan
Market Research Update – Page: Online : 28-Nov-18

Roy Morgan CEO Michele Levine joins Stan Grant’s panel on the ABC’s "Matter Of Fact" program on 27 November. Levine discusses issues such as sexism in federal parliament, voters’ growing disillusionment with Australia’s two major political parties, the outcome of the Victorian election and issues that are likely to be of concern for voters in the lead-up to the federal election in 2019. The full interview with Michele can be seen from around the 22:30 mark. Independent crossbenchers Cathy McGowan and Rebekah Sharkie also discuss their legislation to establish a federal integrity commission.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BROADCASTING CORPORATION