Author: roymorgansocial

CBA, NAB chairmen to face Hayne heat

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Original article by Richard Gluyas
The Australian – Page: 23 : 14-Nov-18

Commonwealth Bank of Australia chair Catherine Livingstone will appear before the financial services royal commission on 19 November. National Australia Bank chairman Ken Henry is expected to front the inquiry in the following week. The CEOs of the four major banks will also give evidence during the final round of public hearings, along with Macquarie Group’s Nicholas Moore, AMP’s Mike Wilkins and the heads of ASIC and APRA. CBA and NAB attracted criticism in the royal commission’s interim report.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE GROUP LIMITED – ASX MQG, AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

CBA to turn fully green by 2030

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Original article by Mark Ludlow
The Australian Financial Review – Page: 10 : 14-Nov-18

The Commonwealth Bank of Australia aims to source 65 per cent of its electricity requirements from renewable sources by 2019, with a target date of 2030 for becoming solely reliant on renewables. As part of this strategy, CBA has secured a 12-year deal to source 96,000 megawatts annually from the Sapphire wind farm. CBA estimates that its direct emissions have been cut by 54 per cent since 2009. The bank will also become the first Australian company to join the global RE100 initiative, whose members have agreed to fully transition to renewables by 2050.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RE100, CWP RENEWABLES, PARTNERS GROUP AUSTRALIA PTY LTD, THE CLIMATE GROUP, CDP, SONY CORPORATION, PRICEWATERHOUSECOOPERS, LYFT INCORPORATED, INTERNATIONAL ENERGY AGENCY

ABC news chief backs staff amid Guthrie-Milne fallout

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Original article by Lilly Vitorovich, John Ferguson
The Australian – Page: 5 : 14-Nov-18

The fallout from a "Four Corners" story on the ABC’s recent leadership crisis is continuing, with Liberal senator Eric Abetz saying it demonstrated that the public broadcaster is in "disarray". Amongst other things, former MD Michelle Guthrie alleged that ex-chairman Justin Milne had touched her inappropriately, while allegations were raised about political interference at the ABC. Meanwhile, director of news Gavin Morris has praised the ABC’s staff, noting their ­integrity and professionalism.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

ANZ-Roy Morgan Australian Consumer Confidence regains to 119.8

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Nov-18

ANZ-Roy Morgan Australian Consumer Confidence rose 2.6% to 119.8 in the week ended 11 November. Consumer confidence is now higher than it was heading into the Wentworth by-election. Households’ views towards current and future financial conditions rose 3.9% and 2.2% respectively, while sentiment towards current and future economic conditions rose 7% and 4.5% respectively. The "time to buy a household item" sub-index fell by 3.1%, only partial reversing the previous week’s gain of more than 9%.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

University outrage at research cash cut

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Original article by Michael Koziol
The Age – Page: 1 : 13-Nov-18

Australia’s leading universities have criticised the federal government’s plans to redirect $134m from the Research Support Program to provide increased funding for regional universities. University of Sydney vice-chancellor Michael Spence says universities will have to reduce their research activities while many students will miss out places at the nation’s top universities. Monash University’s vice-chancellor Margaret Gardner has described the funding cuts as "unnecessary" and "reckless".

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UNIVERSITY OF SYDNEY, MONASH UNIVERSITY, THE GROUP OF EIGHT LIMITED, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, JAMES COOK UNIVERSITY, UNIVERSITY OF THE SUNSHINE COAST, CENTRAL QUEENSLAND UNIVERSITY

Governing body happy with series attendances but ODIs face uphill fight

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Original article by Jon Pierik
The Sydney Morning Herald – Page: 51 : 13-Nov-18

Attendances for Australia’s recent three-match one-day cricket internationals series against South Africa have been described as modest. Ratings for the matches on Fox Sports were probably only a third of what they would have been if they had been on free-to-air television. Cricket Australia is hoping for better attendances and ratings when the first of four Twenty20 internationals begin at Metricon Stadium on the Gold Coast on 17 November.

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CRICKET AUSTRALIA, FOX SPORTS AUSTRALIA PTY LTD

Canberra still to control overall overseas intake, says Morrison

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Original article by Andrew Tillett, John Kehoe
The Australian Financial Review – Page: 8 : 13-Nov-18

The federal government will seek greater input from the states on the immigration rate, based on what they feel is their "carrying capacity" in terms of the infrastructure and services they can provide. However, Prime Minister Scott Morrison says the federal government will always be responsible for setting overall migrant numbers, and that it is not something it will be "contracting out" to the states. New South Wales Premier Gladys Berejiklian has welcomed plans for the states to have more input on migrant numbers, saying it is "playing catch-up" on the infrastructure that is needed because of recent population growth.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF HOME AFFAIRS, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET

Woolies to return $1.7b to shareholders

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Original article by Sue Mitchell
The Australian Financial Review – Page: 16 : 13-Nov-18

Shaun Cousins of JP Morgan estimates that the sale of Woolworths’ fuel retailing business will reduce earnings per share by 7.4 per cent in 2020 and 8.1 per cent in 2021. However, the impact on EPS would be lower if Woolworths opts to return the proceeds of the sale to shareholders via a buyback. Woolworths is widely tipped to return most of the sale proceeds to investors, having initially flagged its intention to use some of the funds to reduce to debt and finance store refurbishments.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, JP MORGAN AUSTRALIA LIMITED, EG GROUP, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, BP PLC, CITIGROUP PTY LTD, BIG W DISCOUNT STORES, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, ENDEAVOUR DRINKS

Mystery still shrouds BHP derailment

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Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 13-Nov-18

BHP Billiton has resumed rail operations in Western Australia’s Pilbara region after it was forced to detail an iron ore train on 5 November. The cause of the incident is still being investigated, but sources within BHP have suggested that the problem may have been linked to maintenance issues. Meanwhile, heavy rain and flash flooding is believed to have contributed to the derailing of an empty iron ore train that was returning to Mineral Resources’ Koolyanobbing mine on 11 November. The company does not expect the incident to affect the mine’s output.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MINERAL RESOURCES LIMITED – ASX MIN, BROOKFIELD ASSET MANAGEMENT INCORPORATED, ARC INFRASTRUCTURE

Terrorism duo knew each other

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Original article by David Hurley, Keith Moor
Herald Sun – Page: 4 & 5 : 13-Nov-18

Prime Minister Scott Morrison and Victoria Police’s Chief Commissioner Graham Ashton say the Bourke Street rampage by Hassan Khalif Shire Ali was clearly a terrorist attack, rejecting claims by his family that he was mentally ill. Ashton has also warned that law enforcement agencies lack the resources to fully monitor the "hundreds" of Muslims in Australia who have been radicalised. Police have revealed that Shire Ali had links to other Islamic State supporters, including Khaled Sharrouf and Brighton siege perpetrator Yacqub Khayre.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, VICTORIA POLICE