Author: roymorgansocial

Regulator predicts pain for CFMEU

roymorgansocial Leave a comment

Original article by Michael Pelly
The Australian Financial Review – Page: 33 : 31-Aug-18

The Construction, Forestry, Maritime, Mining & Energy Union was fined some $5.6m for breaching workplace laws in 2016-17, compared with just $1.8m in the previous financial year. Australian Building & Construction Commission head Stephen McBurney says the militant union could potentially face fines of more than $20m under the Building and Construction Industry (Improving Productivity) Act, which has significantly increased the maximum fines for both individuals and unions. The CFMMEU has been fined more than $1m for workplace breaches so far in 2018-19.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, FEDERAL COURT OF AUSTRALIA, FEDERAL CIRCUIT COURT OF AUSTRALIA, HIGH COURT OF AUSTRALIA, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION

Worrying sign investment has peaked

roymorgansocial Leave a comment

Original article by Patrick Commins
The Australian Financial Review – Page: 8 : 31-Aug-18

The Australian Bureau of Statistics has reported that business investment fell by 2.5 per cent in the June quarter; economists had been tipping an increase of 0.6 per cent. Mining sector spending was down 7.2 per cent over the quarter, while non-mining investment declined by 0.5 per cent. However, companies increased their business investment forecast for 2018-19 to just under $102 billion, an increase of 16.1 per cent on the last forecast three months ago.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN LABOR PARTY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, CAPITAL ECONOMICS LIMITED, TD SECURITIES, AMP LIMITED – ASX AMP, LIBERAL PARTY OF AUSTRALIA, BIS OXFORD ECONOMICS PTY LTD

Paris targets still on despite exemption

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 31-Aug-18

Environment Minister Melissa Price rather than Energy Minister Angus Taylor has been given responsibility for meeting Australia’s carbon emission reductions target under the Paris climate agreement. Price has expressed confidence that the target will be achieved, noting that the nation is on track to exceed its emissions reduction target for 2020. Policies aimed at reducing electricity prices will be a priority for Taylor, who has indicated that the federal government will adopt many of the Australian Competition & Consumer Commission’s recommendations in its review of retail electricity prices.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN ENERGY REGULATOR, AUSTRALIAN LABOR PARTY

Roy Morgan Net Trust survey shows trust is the foundation of all human connections whereas distrust destroys social cohesion – instantly

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 31-Aug-18

Roy Morgan’s Net Trust Survey is the landmark survey which has now been conducted nine times since October 2017. It has explored in detail how the gaining and maintaining of "Trust" is key to businesses developing and growing their market share, while "Distrust" of a brand or business represents a significant problem for the business. In the latest presentation on Trust and Distrust at ABCTV’s Q&A studio in Sydney Roy Morgan CEO Michele Levine and Social Scientist Dr. Ross Honeywill explored how rising levels of "Distrust" in a business can trigger increasing customer churn, negatively impact customer acquisition and retention and is an effective "bellwether" for the sustainability of a business. To learn more about the latest results of Roy Morgan’s Net Trust Survey follow this link for access to the latest Net Trust Report.

CORPORATES
ROY MORGAN LIMITED

Watchdog’s growl could keep banks from following Westpac

roymorgansocial Leave a comment

Original article by Richard Gluyas
The Australian – Page: 21 : 31-Aug-18

Jon Mott of UBS has suggested that the federal government could potentially increase the bank levy in response to Westpac’s move to increase its variable home loan interest rates. Mott adds that the other major banks may not increase their rates immediately as their net interest margins are under less pressure, while they may also be deterred by the Australian Competition & Consumer Commission’s focus on the banking sector.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, MORGAN STANLEY AUSTRALIA LIMITED

Woodside blasts Rio’s call on wage rise

roymorgansocial Leave a comment

Original article by Peter Ker, Julie-anne Sprague
The Australian Financial Review – Page: 3 : 31-Aug-18

Woodside Petroleum CEO Peter Coleman contends that recent comments by Rio Tinto CEO Jean-Sebastien Jacques about rising labour costs in Western Australia’s Pilbara region have alarmed investors. Coleman says he can see no signs that "cost inflation" is rampant in the region, while BHP Billiton CEO Andrew Mackenzie said that while there were indications of inflation in the Pilbara, he was not "fazed" by it. Coleman says any talk that the new investments in the region can be likened to the previous mining boom are way off the mark.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP

Townhouses rise as approvals fall

roymorgansocial Leave a comment

Original article by Michael Bleby
The Australian Financial Review – Page: 34 : 31-Aug-18

New building approvals fell by 5.2 per cent in seasonally adjusted terms in July when compared to June, according to official figures released on 30 August. Approvals for detached dwellings declined in all mainland states except Queensland, while townhouse approvals increased by 3.9 per cent. Townhouse approvals for the 12 months to July totalled 36,423, compared to 34,256 approvals for the 12 months to August 2016. In comparison, approvals for high-rise apartments have declined from 76,947 in the 12 months to August 2016 to 65,478 in the 12 months to July 2018.

CORPORATES
POLY GROUP CORPORATION, JP MORGAN AUSTRALIA LIMITED, STOCKLAND – ASX SGP

CBA to disclose fees to borrowers

roymorgansocial Leave a comment

Original article by Duncan Hughes
The Australian Financial Review – Page: 8 : 31-Aug-18

Morgan Stanley estimates that about 43 per cent of the Commonwealth Bank of Australia’s home loans are sold via its network of mortgage brokers. CBA has advised that from now on its home loan customers will be fully informed as to how much brokers receive in commissions. The bank had previously not done so, telling the banking royal commission earlier in 2018 that the size of such commissions cannot be accurately calculated. CBA’s new disclosure standards will cover both upfront and trailing commissions.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MORGAN STANLEY AUSTRALIA LIMITED, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. PRODUCTIVITY COMMISSION, WESTPAC BANKING CORPORATION – ASX WBC, COMBINED INDUSTRY FORUM

Move likely to delay RBA hike

roymorgansocial Leave a comment

Original article by Ronald Mizen
The Australian Financial Review – Page: 7 : 31-Aug-18

Data from Bloomberg shows that financial markets view the chances of a reduction in the cash rate by the end of 2019 to be just 58.7 per cent in the wake of Westpac’s out-of-cycle increase in its variable mortgage interest rates. Shane Oliver of AMP Capital says the other major banks are likely to follow, which will in turn mean that the Reserve Bank is likely to leave the cash rate on hold until least 2020. Oliver and David Bassanese of Betashares Capital also suggest that the central bank could potentially reduce the cash rate if Westpac’s rivals increase their interest rates.

CORPORATES
AMP CAPITAL INVESTORS LIMITED, BETASHARES CAPITAL LIMITED, RESERVE BANK OF AUSTRALIA, BLOOMBERG LP, BIS OXFORD ECONOMICS PTY LTD, CANSTAR PTY LTD, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, RAMS HOME LOANS PTY LTD

Business lists IR demands for O’Dwyer

roymorgansocial Leave a comment

Original article by Dana McCauley, Nick Toscano
The Age – Page: 5 : 30-Aug-18

Australian Industry Group CEO Innes Willox says the passage of three key workplace relations bills through Parliament should be a priority for incoming Industrial Relations Minister Kelly O’Dwyer. The federal government shelved its Ensuring Integrity Bill earlier in 2018, while the Proper Use of Worker Benefits Bill remains stalled in the upper house and Labor has blocked a bill to scrap four-yearly reviews of industrial awards. Willox has also urged O’Dwyer to intervene in a court case regarding the employment status of casual workers.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, THE AUSTRALIAN INDUSTRY GROUP, WORKPAC PTY LTD, FEDERAL COURT OF AUSTRALIA, HIGH COURT OF AUSTRALIA, MONDELEZ AUSTRALIA (FOODS) LIMITED, AUSTRALIA. FAIR WORK COMMISSION, ACTU, BORAL LIMITED – ASX BLD, AUSTRALIAN LABOR PARTY