Author: roymorgansocial

‘No legal basis’: Indonesian MP criticises decision to send remaining Bali Nine home

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Original article by Zach Hope, Karuni Rompies, Amilia Rosa
The Age – Page: Online : 17-Dec-24

Andreas Hugo Pareira has criticised the deal that has seen the remaining members of the Bali Nine returned to Australia, with Pareira being the deputy head of Indonesia’s parliamentary justice committee. Indonesia has struck a similar deal with the Philippines to return high profile death-row inmate Mary Jane Veloso back home, and Pareira says the prisoner deals with Australia and the Philippines goes against Indonesia’s Corrections law, and set a bad precedent. Pareira is a member of the Indonesian Democratic Party of Struggle, the current opposition to new Indonesian president Prabowo Subianto

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INDONESIAN DEMOCRATIC PARTY OF STRUGGLE

Miners claim uranium ban negligent, nonsense policy

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Original article by Rosie Lewis
The Australian – Page: 5 : 17-Dec-24

Minerals Council of Australia CEO Tania Constable will appear before a parliamentary inquiry into nuclear power on Tuesday. Constable will argue that there is no scientific, technical or economic justification for retaining Australia’s long-standing legislative ban on nuclear energy. She will also contend that adding nuclear to the nation’s energy mix will be necessary in order to fully decarbonise the domestic economy by 2050. Electrical Trades Union organiser Simon Brezovnik has told the inquiry that nuclear energy is too expensive and high-risk.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, ELECTRICAL TRADES UNION

Rocky start to Lew’s British adventure

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Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 17-Dec-24

Internal documents have revealed that Solomn Lew’s Premier Investments is having problems in both the UK and Australia. Sales from the first three UK stores of its sleepwear brand Peter Alexander are trading at 61.6 per cent below budget, while sales for its Smiggle brand in the UK between August and last weekend were down 12.2 per cent on the same period last year. Premier Investments’ other retail and fashion brands in Australia are also seeing negative sales growth when compared to 2023, with those brands including Jacqui E and Just Jeans.

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, PETER ALEXANDER SLEEPWEAR PTY LTD, SMIGGLE PTY LTD, JACQUI E PTY LTD, JUST JEANS PTY LTD

Roy Morgan Poll: Coalition boosts primary support and retains clear two-party preferred lead for Christmas: L-NP 52% cf. ALP 48%

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Dec-24

A Coalition Government, with a slim majority, would now win a Federal Election with the two-party preferred vote unchanged from last week: L-NP 52% cf. ALP 48%, the latest Roy Morgan survey finds. Primary support for the Coalition increased 3% to 41% – the highest since the last Federal Election and came at the expense of One Nation 5% (down 1.5%), and drops in support for the ALP 27.5% (down 0.5%), Greens 12.5% (down 0.5%), and Other Parties 3.5% (down 0.5%) which all lost support. Support for Independents remained steady at 10.5%. The rise in Coalition primary came after the RBA left interest rates unchanged and the Coalition outlined its energy plan to bring in nuclear power and lower energy costs.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ONE NATION PARTY, AUSTRALIAN GREENS

ABC to get extra $126m funding after election

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Original article by Ronald Mizen
The Australian Financial Review – Page: 4 : 17-Dec-24

The federal government will boost funding for the ABC in its Mid-Year Economic and Fiscal Outlook statement. Communications Minister Michelle Rowland has advised that the public broadcaster will receive an additional $40.9m in 2026-27, $42.2m in the following financial year and $43m in 2028-29. Rowland has also indicated that the government will legislate five-year funding agreements for the ABC. The former Coalition government had significantly reduced the ABC’s funding.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS

Action-packed year tipped for lithium deals

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Original article by Alex Gluyas
The Australian Financial Review – Page: 23 : 17-Dec-24

Mergers and acquisitions activity in Australia’s critical minerals sector has been subdued in 2024; there have been just 25 such deals, compared with 49 in the previous calendar year. However, the total value of deals in the sector has risen from $5.3bn in 2023 to $14.8bn in the year to date. Law firm Allens is upbeat about the outlook for the critical minerals sector in 2025, forecasting an upturn in M&A activity that will flow through to other resources commodities.

CORPORATES
ALLENS

Arcadium investors sue over Rio takeover

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Original article by Elouise Fowler
The Australian Financial Review – Page: 15 : 17-Dec-24

Arcadium Lithium and its board of directors are facing legal action from three shareholders over the company’s acquisition by Rio Tinto. The investors contend that Arcadium’s directors had misled shareholders and failed in their fiduciary duty to maximise value in the $US6.7 billion ($9.9 billion) deal. Rio Tinto has not been named as a defendant in the lawsuits. The proposed merger will require the support of at least 75 per cent of Arcadium’s shareholders when they vote on the deal next week.

CORPORATES
ARCADIUM LITHIUM PLC – ASX LTM, RIO TINTO LIMITED – ASX RIO

Academic and banker to join RBA policy board

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Original article by Jack Quail
The Australian – Page: 4 : 17-Dec-24

Treasurer Jim Chalmers says the federal government undertook a "very robust and very consultative" process to select the members of the Reserve Bank of Australia’s two new boards. Professor Renee Fry-McKibbin and former Bendigo Bank CEO Marnie Baker will join four of the RBA’s current external board members on the new interest-rate setting board, which will also include governor Michele Bullock, deputy governor Andrew Hauser and Treasury secretary Steven Kennedy. Current board members Carol Schwartz and Elana Rubin will join the RBA’s governance board.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

Roy Morgan Business Confidence virtually unchanged in November after RBA leaves interest rates unchanged again

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-Dec-24

In November 2024, Roy Morgan Business Confidence was 106.9 (virtually unchanged from October) after the Reserve Bank left interest rates unchanged at a 13-year high of 4.35%. Business Confidence is now 4.3pts below the long-term average of 111.2, although it is up 21.1pts from November 2023. Business Confidence is now at its most positive rating since April 2022, and is the highest it has been since the Albanese Government was elected in May 2022. Now 58.6% (down 0.4ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while only 37.6% (up 0.8ppts) expect ‘bad times’. Meanwhile, 47.4% (up 1.4ppts) of businesses expect the business to be ‘better off’ financially this time next year, while 22.4% (up 1.8ppts) expect the business to be ‘worse off’ financially. The latest Roy Morgan Business Confidence results for November are based on 1,457 detailed interviews with a cross-section of Australian businesses from each State and Territory

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ROY MORGAN LIMITED

Rio weighs up another lithium play

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Original article by Brad Thompson
The Australian – Page: 16 : 11-Dec-24

Rio Tinto’s board is expected to approve a proposal to increase the annual production capacity of its Rincon lithium project in Argentina to 60,000 tonnes. Rio Tinto recently advised of the first production from a pilot plant at Rincon, more than two years after it acquired the project for $US825m. Barrenjoey is of the view that Rio Tinto may direct some of its $US800m worth of unallocated capital expenditure to the Rincon project. Rio Tinto is also seeking to acquire Arcadium Lithium, with the target’s shareholders set to vote on the $US6.7bn deal on 23 December.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ARCADIUM LITHIUM PLC – ASX LTM, BARRENJOEY CAPITAL PARTNERS PTY LTD