Author: roymorgansocial

ALP inequality claims sunk

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Original article by Adam Creighton
The Australian – Page: 1 & 6 : 29-Aug-18

The Productivity Commission has released a report which concludes that inequality in Australia has not increased significantly over recent decades. The report found that real incomes increased by an average of more than two per cent annually between 1989 and 2016. Chairman Peter Harris says all income groups have benefited to some extent from Australia’s economic growth over the last 27 years. However, he notes that nine per cent of Australians are living in poverty. Shadow treasurer Chris Bowen claimed in 2017 that income inequality was at its highest level in 75 years.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN LABOR PARTY, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, NATIONAL PRESS CLUB (AUSTRALIA), UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

PM to seal trade deal with Jakarta

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Original article by Angus Grigg, Lisa Murray, Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 29-Aug-18

Former trade negotiator Alan Oxley says Australia’s proposed free-trade agreement with Indonesia has more political than economic significance. Prime Minister Scott Morrison is expected to finalise a trade deal with Indonesia on 31 August, during his first overseas trip in his new role. President Joko Widodo indicated earlier in 2018 that a trade deal between the two nations was only being held up by "technical issues". Negotiations for a trade deal began in 2010 and were revived in 2016.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA-INDONESIA BUSINESS COUNCIL LIMITED, RMIT UNIVERSITY, CENTRAL QUEENSLAND UNIVERSITY, SWINBURNE UNIVERSITY OF TECHNOLOGY, CURTIN UNIVERSITY OF TECHNOLOGY

Orocobre rises on record profit

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Original article by Matt Chambers
The Australian – Page: 22 : 29-Aug-18

Australian-listed Orocobre has posted a 2017-18 underlying profit of $US25.7m, compared with $US13.8m in 2016-17. However, impairment charges and tax law changes saw the lithium miner’s statutory net profit fall from $US4.6m previously to $US1.9m. Orocobre benefited from a 29 per cent rise in the lithium price, and MD Richard Seville expects the price to remain strong in the first half of 2018-19. Orocobre’s shares rose 5.8 per cent to $4.37 on 28 August.

CORPORATES
OROCOBRE LIMITED – ASX ORE, GALAXY RESOURCES LIMITED – ASX GXY, SOCIEDAD QUIMICA Y MINERA SA, POSCO, TOYOTA TSUSHO CORPORATION

Miners warn of graduate crisis

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Original article by Matt Chambers
The Australian – Page: 19 & 22 : 29-Aug-18

The Minerals Council of Australia has forecast that the number of mining engineering graduates will fall from 171 a year to just 47 between 2017 and 2020 due to a decline in enrolments. However, the MCA’s modelling suggests that at least 200 new graduates will be required each year to offset the number of mining engineers who exit the sector. South32 CEO Graham Kerr and Newcrest Mining CEO Sandeep Biswas are among the industry executives who have expressed concern about the long-term impact of the decline in enrolments for mining-related university courses.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, SOUTH32 LIMITED – ASX S32, NEWCREST MINING LIMITED – ASX NCM, DIGGERS AND DEALERS FORUM

ASIC warns CBA on reverse mortgages

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Original article by James Eyers
The Australian Financial Review – Page: 19 : 29-Aug-18

Lending standards in the reverse mortgage sector have come under scrutiny by the Australian Securities & Investments Commission, which has expressed concern that some lenders have adopted a "tick the box" approach to approving such loans. The Commonwealth Bank and its Bankwest subsidiary are the leading providers of reverse mortgages, which tend to be popular with older people. Demand for such products is expected to increase due to Australia’s ageing population.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BANKWEST, WESTPAC BANKING CORPORATION – ASX WBC, MACQUARIE GROUP LIMITED – ASX MQG, HEARTLAND SENIORS FINANCE, AUSTRALIA. PRODUCTIVITY COMMISSION

Prime blames loss on ad decline

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Original article by Stephen Brook
The Australian – Page: 21 : 29-Aug-18

The Seven Network’s regional affiliate Prime Media Group has posted a 2017-18 net loss of $12.28m, compared with a loss of $48m previously. Prime’s revenue of $219.16m was 8.7 per cent lower than the previous financial year, while EBITDA fell 29.5 per cent to $45.16m and operating expenses rose 10.2 per cent to $55.02m.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM

ANZ-Roy Morgan Consumer Confidence bounces to 116.5

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Aug-18

ANZ-Roy Morgan Australian Consumer Confidence rose 2.1% to 116.5 in the week ended 26 August, following a 3.5% decline in the prior week. Households’ views towards current financial conditions improved 1.2%, largely recovering from the 1.3% fall in the previous week. Sentiment towards future financial conditions bounced a solid 3.1%, partially reversing the 7.6% tumble in the week prior. Consumers were also more optimistic about current economic conditions – their assessment improved 2.9%, ending the subindex’s streak of weekly declines. Of particular note, views towards future economic conditions jumped 6.1% – more than reversing the previous week’s 5.3% decline and bringing the subindex to its highest value in six weeks. The "time to buy a household item" subindex slipped 2.2% to 126.5, compared with a long-term average of 134.0.

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

ALDI, Bunnings, Qantas and ABC the Most Trusted Brands in Australia

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Aug-18

The latest Roy Morgan Net Trust Score Survey, which was conducted in July 2018, shows that ALDI is Australia’s most trusted brand for the second survey in a row. The grocery retailer is followed by Bunnings, Qantas and the ABC as Australia’s top brands with positive net trust scores. Qantas has improved one place since the previous survey in April, and the ABC has jumped three places from seventh. Bendigo Bank is the only bank brand to defy the fallout from the Financial Services Royal Commission. It has, despite the Royal Commission and the high levels of distrust in the banking sector, remained in the top 10 brands with a positive Net Trust Score across the five surveys since October 2017. Although the big-four banks remain in the top 10 most distrusted list, partly due to revelations of wrongdoing in the Royal Commission, AMP has moved from nowhere in the benchmark survey to feature prominently in the two most recent surveys of Australian brands with a negative NTS. Roy Morgan CEO Michele Levine notes that Facebook’s distrust score has catapulted it into the #1 ranking on the Roy Morgan top 10 most distrusted media brands, and into the top 10 most distrusted brands in Australia.

CORPORATES
ROY MORGAN LIMITED, ALDI STORES SUPERMARKETS PTY LTD, BUNNINGS GROUP LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN BROADCASTING CORPORATION, AMP LIMITED – ASX AMP, FACEBOOK INCORPORATED

Liberal leadership fight boosts ALP support, but ANZ-Roy Morgan Consumer Confidence also up after Liberal leadership resolved

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Aug-18

The latest Morgan Poll shows Federal support for the L-NP down 3.5% to 46% following a week of leadership upheaval for the Federal Liberal Party, boosting ALP support by 3.5% to 54% on a two-party preferred basis according to interviewing conducted on the weekend of August 25/26 with 821 electors. The two Morgan Polls taken over the past week show that the former Malcolm Turnbull-led L-NP Government was within striking distance of the ALP on the weekend before Turnbull was ousted as Prime Minister and Liberal Party leader. The L-NP was on 49.5% compared with 50.5% for the ALP on a two-party preferred basis on the weekend of August 18/19, according to interviewing conducted with 886 electors. Although leadership tensions in a party usually undermine support for that party and undermine confidence, the leadership upheaval has not negatively impacted on broader Consumer Confidence – ANZ-Roy Morgan Consumer Confidence has increased 2.4pts to 116.5. Interviewing for Consumer Confidence was taken entirely after the resolution of the Liberal leadership contest and Scott Morrison being sworn in as Australia’s 30th Prime Minister. Roy Morgan CEO Michele Levine notes that Roy Morgan Government Confidence plunged by 11pts on the weekend to 84 with only 33.5% (down 6.5%) of Australians saying Australia is "heading in the right direction". She adds that it is a rare occurrence that Consumer Confidence and Government Confidence move in such different directions; however, the leadership issues at the top of the Government are a clear catalyst on this occasion.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Record crowds fuel AFL clubs

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Original article by John Stensholt
The Australian – Page: 3 : 28-Aug-18

The Australian Football League will announce on 28 August that 6,894,700 spectators attended its matches during the 2018 season, up 2.7 per cent on last year. An average of 34,822 people attended games during the season, while AFL membership was at a record 1.008 million. Five clubs had more than 70,000 members, with reigning premiers Richmond increasing its membership by 38 per cent to 100,726. Richmond CEO Brendon Gale says the upcoming finals will determine whether it exceeds its 2017 operating profit of $3.06 million.

CORPORATES
AUSTRALIAN FOOTBALL LEAGUE, RICHMOND FOOTBALL CLUB, WEST COAST EAGLES FOOTBALL CLUB, COLLINGWOOD FOOTBALL CLUB, HAWTHORN FOOTBALL CLUB