Author: roymorgansocial

Poor connection – ASIC to restrict life insurance telemarketers due to mass policy cancellation

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Original article by Ceyda Erem
mozo.com.au – Page: Online : 31-Aug-18

The Australian Securities & Investments Commission has found that up to one in five life insurance policies sold over the phone are cancelled during their cooling-off period. ASIC found that one of the main reasons for the high level of cancellation was the lack of information provided about important policy features. Meanwhile, research by Roy Morgan has found that 10.8 per cent of those holding risk and life insurance policies either switched their policies or actively thought about doing so in the year to June.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, ROY MORGAN LIMITED

Dutton’s au pair drama shows hypocrisy of immigration policy

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Original article by Waleed Aly
The Sydney Morning Herald – Page: Online : 31-Aug-18

Peter Dutton has sought to create an image of being someone who believes in the importance of applying rules rigidly and in law and order. Humanitarian causes seemingly do not move him. However, in letting an au pair into Australia on a tourist visa when he was immigration minister, Dutton showed he was prepared to go against the principles on which he has earned his tough reputation. He was told the au pair had previously broken Australia’s visa rules and was likely to do so again, but he ignored the advice of Immigration staff. It would appear Dutton is happy to let some people into Australia illegally if they are "the right kind of people".

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS

Ten pips Seven at post for Cup rights

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Original article by John Stensholt
The Weekend Australian – Page: 5 : 1-Sep-18

‘The Ten Network is expected to announce on 3 September that it has secured the rights to broadcast the Melbourne Cup horse racing carnival as from 2019. It is understood that Ten will pay over $10 million a year for the rights, as much as five times more than current broadcaster Seven West is believed to be paying. Seven will also cease broadcasting the Australian Open tennis in 2019, but has teamed up with Foxtel to take the cricket from Nine, which will now show the tennis.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD

Mortgage rates are going up as house prices are falling and that’s unusual à and a worry

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Original article by Stephen Letts
abc.net.au – Page: Online : 2-Sep-18

House prices are falling at the same time as mortgages are increasing, and this does not happen often in Australia; the last time it occurred was in 2008. Mortgage rates were higher at that time than they are now, while unemployment was lower back in 2008. As is currently the case, the main reason why banks increased their mortgage rates back in 2008 was due to funding costs, rather than because of Reserve Bank action. Paul Dales from Capital Economics says the three conditions that could see Australia face a recession or financial crisis in the next few years are currently all present: higher mortgages; falling house prices; and a tightening of credit.

CORPORATES
RESERVE BANK OF AUSTRALIA, CAPITAL ECONOMICS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, SUNCORP GROUP LIMITED – ASX SUN, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BANKWEST, ROYAL BANK OF CANADA

Gold production beats forecasts to hit highest level in 20 years

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Original article by Matt Chambers
The Australian – Page: Online : 3-Sep-18

Australia’s gold miners produced 310 tonnes of the precious metal in 2017-18, according to consulting firm Surbiton. This represents the highest output since 1997-98, while production for the June quarter totalled 81 tonnes, nine per cent up on the previous quarter. Newmont’s Boddington mine in Western Australia was the biggest gold producer in 2017-18, with output of 733,000 ounces. The federal Industry Department’s Office of the Chief Economist is forecasting gold production will increase to 322 tonnes by 2019-20.

CORPORATES
SURBITON ASSOCIATES PTY LTD, NEWMONT AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, BARRICK GOLD OF AUSTRALIA LIMITED, NEWCREST MINING LIMITED – ASX NCM, DACIAN GOLD LIMITED – ASX DCN, GASCOYNE RESOURCES LIMITED – ASX GCY, GOLD ROAD RESOURCES LIMITED – ASX GOR

Auction market chilled by rate hikes, reluctant sellers

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Original article by Michael Bleby
The Australian Financial Review – Page: Online : 3-Sep-18

Corelogic has reported that the preliminary clearance rate for residential auctions in the week ending 1 September was at 58.2 per cent. Sydney had a preliminary clearance rate of 58.6 per cent, while Melbourne had a preliminary clearance rate of 59.1 per cent. Canberra had a preliminary clearance rate of 63.3 per cent, while Adelaide and Brisbane had preliminary clearance rates of 61.7 per cent and 45.9 per cent respectively.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, BELLE PROPERTY PTY LTD, RESERVE BANK OF AUSTRALIA, STOCKLAND – ASX SGP, JP MORGAN AUSTRALIA LIMITED

Scott Morrison clinches win-win free trade deal with Indonesia

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Original article by James Massola, Karuni Rompies
The Age – Page: Online : 31-Aug-18

Universities Australia and the Cattle Council of Australia are among the industry groups to welcome the clinching of a free trade agreement between Australia and Indonesia. Prime Minister Scott Morrison says the agreement is a "massive win-win" for both countries. The agreement will see reduced tariffs and improved access for Australian rural producers such as wheat growers and dairy farmers, while Australian universities and health care providers will be able to set up facilities in Indonesia. The majority of Indonesian goods exported to Australia will no longer have tariffs applied to them.

CORPORATES
UNIVERSITIES AUSTRALIA LIMITED, CATTLE COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Nine pitches $3m Australian Open sponsor deals

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Original article by Nick Tabakoff
The Australian – Page: Online : 3-Sep-18

Nine Entertainment is understood to be seeking sponsor deals of up to $3 million for the Australian Open tennis, which it will be covering for the first time in 2019. Nine has already met with some of the Open’s current sponsors, including the ANZ Bank, Kia and Emirates, with more meetings expected in the week beginning 3 September. Nine is seeking to charge more than Seven did for major sponsor packages, but it believes the extra cost is warranted, because of the greater opportunity for "cross-platform exposure".

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, KIA GROUP, EMIRATES AIRLINES, SEVEN NETWORK LIMITED, JACOB’S CREEK PTY LTD, BARILLA, OMNICOM GROUP

The battle for the $2.9bn fresh bread market

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Sep-18

Australia’s $2.9 billion fresh bread market is dominated by the two supermarket giants Woolworths Group and Coles Group who represent a combined 51.9% of the fresh bread market, according to the latest Roy Morgan results in the year to June 2018. Supermarkets now comprise over two-thirds of the entire fresh bread market, with the remaining 31% split between specialty bread shops including Bakers Delight, Brumby’s Bakery and other bread shops, and between delicatessens, milk bars, convenience store and other stores. Roy Morgan CEO Michele Levine says although Woolworths and Coles have now comprised over 50% of the fresh bread market for over five years, the success of Bakers Delight and Aldi in growing market share shows there is space for nimble competitors.

CORPORATES
ROY MORGAN LIMITED, WOOLWORTHS GROUP LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, BAKER’S DELIGHT HOLDINGS LIMITED, BRUMBY’S BAKERIES HOLDINGS LIMITED, ALDI STORES SUPERMARKETS PTY LTD, IGA DISTRIBUTION PTY LTD

TPG bulks up ahead of 5G mobile race

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Original article by Supratim Adhikari
The Australian – Page: 17 & 20 : 31-Aug-18

The merged TPG Telecom and Vodafone Hutchison Australia will boast eight million customers and revenue in excess of $6bn. TPG founder David Teoh will have a 17 per cent stake in the combined group, while Vodafone’s existing parent companies Vodafone Group and CK Hutchison Holdings will jointly own 50.1 per cent of the new company. The $15bn deal will be closely scrutinised by the Australian Competition & Consumer Commission, which will examine factors such as its impact on the mobile and fixed broadband markets, as well as the forthcoming auction of 5G spectrum.

CORPORATES
TPG TELECOM LIMITED – ASX TPM, VODAFONE HUTCHISON AUSTRALIA PTY LTD, VODAFONE GROUP PLC, CK HUTCHISON HOLDINGS LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, VERTIUM ASSET MANAGEMENT