Author: roymorgansocial

Sack them all, says insurance boss

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Original article by Michael Roddan, Elizabeth Redman
The Australian – Page: 2 : 11-Sep-18

The banking royal commission commenced its investigation into the life insurance sector on 10 September. Senior counsel assisting the commission, Rowena Orr QC noted the industry had paid $6 billion worth of commissions to financial planners over the five years to 2017, suggesting this was a key factor behind the sector’s unethical behaviour. ClearView chief risk officer Greg Martin admitted to the commission that it had breached anti-hawking laws more than 300,000 times, and that it had a "full on sales" culture.

CORPORATES
AUSTRALIA. JOINT COMMITTEE OF PUBLIC ACCOUNTS AND AUDIT, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CLEARVIEW WEALTH LIMITED – ASX CVW

Lib accuses Nats of treachery in Wagga

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Original article by Andrew Clennell
The Australian – Page: 6 : 11-Sep-18

A spokesperson for New South Wales Deputy Premier John Barilaro has denied claims he helped independent candidate Joe McGirr win the seat of Wagga Wagga. The Liberal party lost the seat after incurring a 29 per cent primary vote swing against it. Its loss has cut Premier Gladys Berejiklian’s majority to just six seats, with the next NSW election due in March. Upper house Liberal MP Matthew Mason-Cox had accused Barilaro of undermining the Liberal’s campaign by giving National members the "green light to "hand out" for McGirr

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LIBERAL PARTY OF NEW SOUTH WALES, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Big tech urged to promote quality journalism

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Original article by Matthew Denholm
The Australian – Page: Online : 11-Sep-18

Attendees at the "Navigating the News" conference in Hobart heard Facebook and Google being urged to revise their algorithms to give quality journalism better treatment. Nicholas Gray, the CEO of "The Australian" told the conference that commercial news outlets needed to attract subscriptions in order to remain viable, but that Facebook and Google’s algorithms did not favour the quality stories that the outlets generate. Nic Hopkins from Google Australia and New Zealand said it was not its job to "censor" the internet.

CORPORATES
FACEBOOK INCORPORATED, GOOGLE INCORPORATED, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION

Tennis Australia profit hit reveals cost of Open

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Original article by John Stensholt
The Australian – Page: 17 & 20 : 11-Sep-18

Tennis Australia generated revenue of $337 million in the year to 30 June, up from $318 million. However, its net surplus of around $6 million was down on the $11.4 million surplus that it recorded for the previous corresponding period. Tennis Australia’s total costs increased by $22 million to $329 million, while spending on operations and events increased from $199 million to $215 million; most of that expenditure went towards staging the Australian Open.

CORPORATES
TENNIS AUSTRALIA, THE A2 MILK COMPANY LIMITED – ASX A2M, AUSTRALIAN OLYMPIC FEDERATION, CRICKET AUSTRALIA

Strong Asian demand boosts coal exports

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Original article by Matt Chambers
The Australian – Page: Online : 11-Sep-18

The Australian Bureau of Statistics has reported that the value of thermal coal exports in July was at a record $2.45 billion, up 14 per cent from the previous month. Export volumes of thermal coal for July increased by 10 per cent to a record 19.87 million tonnes. The combined value of thermal and coking coal exports in July was $5.58 billion, compared to a value of $4.7 billion for iron ore. The latest federal Industry Department forecast suggests Australia will export 199 million tonnes of thermal coal in 2018-19.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, NEW HOPE CORPORATION LIMITED – ASX NHC, WHITEHAVEN COAL LIMITED – ASX WHC, ADANI MINING PTY LTD

Polling shows Wentworth winnable with Liberal woman candidate

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Original article by Andrew Clennell, Simon Benson
The Australian – Page: 1 & 4 : 11-Sep-18

Andrew Bragg has advised that he will not be seeking Liberal Party preselection for the seat of Wentworth, despite having been one of the early favourites to win. The seat has been made vacant by the resignation of Malcolm Turnbull, with Liberal members due to vote on his replacement on 13 September. Recent polling that Bragg himself paid for has indicated that the Liberals would have a four per cent better chance of winning Wentworth if it had a female candidate; Bragg says he commissioned the polling as he had heard Prime Minister Scott Morrison had wanted a women candidate to contest Wentworth.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Gold mother lode unearthed underground in Kambalda delivers $15 million in just four days

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Original article by Jarrod Lucas
abc.net.au – Page: Online : 10-Sep-18

RNC Minerals still intends to sell its Beta Hunt mine near Kambalda in outback Western Australia, despite what has been described as a "once-in-a-lifetime discovery" of gold-bearing rock. Local miner Henry Dole has been credited with the discovery, with the rocks being discovered around 500 metres below the surface. Mine workers retrieved over $15 million worth of gold-encrusted rocks in just four days, with one rock weighing 90 kilograms and another weighing 60 kilograms. RNC, which is based in Canada, put the Beta Hunt mine on the market some months ago.

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ROYAL NICKEL CORPORATION

Units are now selling faster than houses in downturn-hit Sydney

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Original article by Michael Bleby
The Australian Financial Review – Page: Online : 11-Sep-18

Domain figures reveal that homes and apartments in Sydney were both on the market for an average of 67 days in August. The figure for homes represents an increase of 20 days when compared to the same time in 2017, while apartments were only taking nine more days to sell. Homes in Melbourne were taking an average of 55 days to sell in August, compared to 44 in August 2017. Melbourne apartments were taking an average of 77 days to sell in August, down from 88 days for the same time in 2017.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, WESTPAC BANKING CORPORATION – ASX WBC

Liquid sunshine offers hope for new energy export industry

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: Online : 11-Sep-18

Cheung Kong Infrastructure, Woodside Petroleum and Royal Dutch Shell are among the energy companies operating in Australia that are keen to grab a foothold in the hydrogen supply sector. The global hydrogen market is expected to be worth $US155 billion by 2022, while ACIL Allen has estimated that Australian hydrogen exports could be worth $1.7 billion per annum by 2030. As well as providing an export market for the renewables sector, developing a hydrogen supply industry in Australia would make the switch to lower carbon energy less expensive.

CORPORATES
CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, AGL ENERGY LIMITED – ASX AGL, ACIL ALLEN CONSULTING PTY LTD, CSIRO, AUSTRALIAN RENEWABLE ENERGY AGENCY, KAWASAKI HEAVY INDUSTRIES COMPANY LIMITED

Osaka upsets Serena Williams in extraordinary US Open final

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Original article by James Dampney
The Age – Page: Online : 9-Sep-18

Naomi Osaka has become the first Japanese tennis player to win a Grand Slam title after she defeated Serena Williams 6-2 6-3 to win the US Open women’s final. However, her historic victory was overshadowed by a number of code violations including a game deduction that were imposed on Williams by chair umpire Carlos Ramos. Williams, who would have equalled the record for Grand Slam wins if she had won the match, referred to Ramos at one point as a "thief".

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