Author: roymorgansocial

Early budget points to a May election

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 26-Nov-18

The federal government is expected to deliver its 2019 Budget in late March or early April, rather than the traditional date of the second Tuesday in May. This would allow the government to lock in an election date in May and see out its full term in office. Meanwhile, Prime Minister Scott Morrison has reiterated his government’s commitment to returning the Budget to surplus in 2019-20, which suggests that a recent revenue windfall will be spent on election promises rather than further Budget repair measures.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF FINANCE, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NATIONAL PARTY OF AUSTRALIA

Premier shrugs off Victorian poll impact

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Original article by Jacob Saulwick
The Sydney Morning Herald – Page: 4 : 26-Nov-18

New South Wales Premier Gladys Berejiklian expects the next few months will be "incredibly tough" in the lead-up to the state election in March. Her comments follow the big swings against conservative parties in recent by-elections and the Victorian election on 24 November, while Berejiklian says she does not want to see her government impacted by "outside influences". One NSW Liberal insider says the campaign it will run at the upcoming state election will be nothing like the one that the Victorian Liberals ran.

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NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, LIBERAL PARTY OF NEW SOUTH WALES, LIBERAL PARTY OF VICTORIA, AUSTRALIAN LABOR PARTY

Victorian rout a federal crisis

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Original article by Phillip Coorey, Ben Potter
The Australian Financial Review – Page: 1 & 6 : 26-Nov-18

Moderates in the federal Liberal Party have urged the government of Prime Minister Scott Morrison to change its "hard-right" approach to issues such as climate change following the heavy loss suffered by the Liberals in the Victorian election. Up to six federal Coalition seats in and around Melbourne are considered vulnerable following the result. Victoria’s Labor government is on track to win 55 out of the 88 seats in the Lower House. Former premier Jeff Kennett has called on state Liberal president Michael Kroger to resign on the back of the result, which saw Labor achieve a six percentage point primary swing. A special SMS Morgan Poll on the eve of the election showed that Premier Daniel Andrews was set to be re-elected with an increased majority of the vote.

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LIBERAL PARTY OF AUSTRALIA, LIBERAL PARTY OF VICTORIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Super mergers could save $1.8bn

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Original article by Michael Roddan
The Australian – Page: 17 & 24 : 26-Nov-18

The Productivity Commission claims that $1.8 billion in savings could be gained each year if Australia’s 50 highest-cost superannuation funds were forced to merge with the 10 lowest-cost funds. The Commission’s research indicates that around eight per cent of all superannuation accounts are "trapped" in funds that have high fees and generally underperform, while there are 93 funds with less than $1 billion in assets. Its figures come as the banking royal commission prepares to take the Australian Prudential Regulation Authority to task over its tardy oversight of the superannuation sector.

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AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AMP LIMITED – ASX AMP, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Hayne to quiz NAB bosses on legal breaches

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Original article by James Frost
The Australian Financial Review – Page: 15 & 19 : 26-Nov-18

The final week of public hearings of the financial services royal commission will commence in Melbourne on 26 November. National Australia Bank CEO Andrew Thorburn and chairman Ken Henry are scheduled to appear, as are acting AMP CEO Mike Wilkins, ANZ CEO Shayne Elliott and Bendigo & Adelaide Bank chairman Robert Johanson. The appearance of Thorburn and Henry comes on the back of growing evidence that NAB has breached laws that could see it hit with criminal and civil penalties.

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NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AMP LIMITED – ASX AMP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Fairfax or Ten: who’s the BOSS?

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Original article by Nick Tabakoff
The Australian – Page: 27 : 26-Nov-18

Fairfax Media is taking legal action against the Ten Network over the latter’s recently-launched 10 BOSS multi-channel. Fairfax claims that it breaches the trademark of "BOSS" magazine, which is a monthly insert of "The Australian Financial Review". One intellectual property lawyer suggests that the action against Ten may be prompted by a desire by Nine Entertainment to use the BOSS brand across a wider range of media outlets following its merger with Fairfax.

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FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Industry Superannuation Funds increase satisfaction lead

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Original article by Roy Morgan
Market Research Update – Page: Online : 26-Nov-18

New findings from Roy Morgan show that the level of satisfaction with the financial performance of industry superannuation funds was 61.8% in the six months to October 2018, compared with 58.2% for retail super funds. Satisfaction with industry funds has increased by 2.7% over the last year, compared to a gain of 1.3% points for retail funds. The only area where retail funds have higher satisfaction than industry funds is for balances below $5,000, where they lead marginally with 49.0% compared to 48.6%. However, this segment is of little current value as it only holds 0.1% of the total market value, despite having 10.9% of customers. These are the latest findings from Roy Morgan’s "Satisfaction with Financial Performance of Superannuation in Australia Report October 2018", which is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including over 30,000 with superannuation.

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ROY MORGAN LIMITED

Satisfaction with banks declines further in October

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Original article by Roy Morgan
Market Research Update – Page: Online : 26-Nov-18

New results from Roy Morgan shows that customer satisfaction with Australia’s banks fell to 78.0% in the six months to October 2018, compared with 78.5% in the six months to September. Satisfaction with banks was 81.2% in the six months to January 2018, prior to the Finance Royal Commission. The decline of 3.2% since January has resulted in the lowest satisfaction with banks in seven years, although it remains above the long-term average and is much higher than the 58.7% recorded in 2001. Satisfaction with the four major banks has fallen to 75.0%, down from 79.2% in the six months to January. However, satisfaction among customers of other banks has declined by only 1% over the same period, leaving them with an overall customer satisfaction rating of 83.9%. Roy Morgan’s "Customer Satisfaction-Consumer Banking in Australia October Report" is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes.

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ROY MORGAN LIMITED

Swimming pool ownership increases in Australia

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Original article by Roy Morgan
Market Research Update – Page: Online : 26-Nov-18

A Roy Morgan Single Source survey shows that nearly 2.7 million Australians aged 14+ now live in a house with a swimming pool. This is equivalent to 13% of the Australian population, and up from 12% the last time Roy Morgan looked at the prevalence of swimming pools around Australia in early 2015. The survey also shows that 20% of people in regional Queensland live in a house with a swimming pool, ahead of people in Perth (19%), Brisbane (18%) and Sydney (15%). However, only 9% of residents of Melbourne and Adelaide have a swimming pool; in Hobart, only 4% of residents have a swimming pool, unchanged on four years ago. Analysis using the Helix Personas consumer segmentation and data integration tool shows that the Leading Lifestyles (21%) and Hearth and Home (17%) communities are most likely to own a swimming pool. Least likely to own a swimming pool are those in the Metrotechs (7%) and Doing Fine (7%) communities.

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ROY MORGAN LIMITED

Australia needs to embrace its big friend

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Original article by Lisa Murray, Angus Grigg, Robert Bolton
The Australian Financial Review – Page: 10 : 23-Nov-18

Indian President Ram Nath Kovind has called for greater commercial ties between India and Australia during a visit to Sydney. Kovind said there are many areas where the two countries could collaborate, including logistics and biotechnology, while he called for increased Australian investment in transport and infrastructure in India. Kovind, who is the first Indian head of state to visit Australia, urged it to embrace India "as a big country and big friend". Prime Minister Scott Morrison told Kovind he wants India to become one of Australia’s three biggest investment destinations within 20 years.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CLARUS LAW ASSOCIATES