Author: roymorgansocial

Missing PM not sign of white flag

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Original article by Luke Griffiths
The Australian – Page: 4 : 27-Jul-18

Prime Minister Malcolm Turnbull has not campaigned in the seat of Mayo since 4 July, ahead of the by-election on 28 July. Georgina Downer, who is contesting the seat for the Liberals, denies that Turnbull’s recent absence is a sign that the party has given up on winning Mayo, which her father Alexander held from 1984 to 2008. The seat is being contested as a result of Centre Alliance MP Rebekha Sharkie having to resign over her dual citizenship.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, GALAXY RESEARCH PTY LTD

Labor ponders emissions target showdown

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Original article by Phillip Coorey
The Australian Financial Review – Page: 11 : 27-Jul-18

Labor is expected to support the passage of the federal government’s National Energy Guarantee in the House of Representatives. However, it is understood that Labor will seek to amend the NEG’s carbon emissions reduction target in the Senate, and it may have the numbers to achieve this. The government’s intention is that emissions be reduced to 26 per cent of 2005 levels by 2030, but Labor believes that a higher target should be set. If Labor go ahead with this strategy, it could well become a key election issue.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN GREENS, CENTRE ALLIANCE, AUSTRALIA. ENERGY SECURITY BOARD

Shotgun wedding a threat to independence, say journos

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Original article by Stephen Brook, John Ferguson
The Australian – Page: 6 : 27-Jul-18

Fairfax Media journalists have expressed concern about the long-term impact of the merger with Nine Entertainment Company on the newspaper publisher’s editorial independence. Fairfax CEO Greg Hywood and Nine counterpart Hugh Marks have given assurances that the two companies’ newsrooms will not be merged. The Media, Entertainment & Arts Alliance has warned that the deal will reduce media diversity and has urged the Australian Competition & Consumer Commission to block it.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Fairfax-Nine merger to fight Facebook, Google

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Original article by Jemima Whyte, Max Mason
The Australian Financial Review – Page: 1 & 19 : 27-Jul-18

Chris Stott of Wilson Asset Management estimates that the proposed $4.2bn merger between Nine Entertainment Company and Fairfax Media will generate cost and revenue synergies of at least $100m. The deal is the first since the changes to cross-media ownership laws, and there is speculation that there will be further consolidation in the sector. Nine Entertainment CEO Hugh Marks will head the new company, which will combine print and broadcasting assets, as well as the Stan streaming video service and a 60 per cent stake in the Domain real estate listings business.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, STAN ENTERTAINMENT PTY LTD, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NETFLIX INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, WILSON ASSET MANAGEMENT, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TPG CAPITAL LP, HELLMAN AND FRIEDMAN, THORNEY INVESTMENTS PTY LTD, AUSBIL INVESTMENT MANAGEMENT LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, ISPT PTY LTD

Macquarie’s new chief sees upside

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Original article by Joyce Moullakis, Vesna Poljak
The Australian Financial Review – Page: 1 & 21 : 27-Jul-18

Macquarie Group has announced that Shemara Wikramanayake will succeed Nicholas Moore as CEO of the investment bank. Wikramanayake, who joined Macquarie in 1987, will take up her new job towards the end of November. She has been the head of Macquarie Asset Management, which has assets of $A534.1 billion since 2008. Macquarie’s shares closed 2.6 per cent lower at $A121.70 on 26 July.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, MACQUARIE ASSET MANAGEMENT, QANTAS AIRWAYS LIMITED – ASX QAN, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, PERENNIAL INVESTMENT PARTNERS LIMITED, SHAW AND PARTNERS LIMITED, INDIAN PACIFIC ASSET MANAGEMENT

We have got it all wrong on Millennials

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Original article by Laura Demasi
The Age – Page: Online : 26-Jul-18

Immigration has impacted on the makeup of Australia’s Millennials unlike any generation in the past, according to research by Roy Morgan. The number of Millennials born in Asia is a particular influence on it. Thirty-one per cent of Millennials living in Sydney or Melbourne were born in Asia, compared to just three per cent of pre-Boomers. Asian-born Millennials tend to be much more conservative in their views than Australian-born Millennials; they are more likely to be married, more likely to have a degree and more likely to vote for the Liberal Party.

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ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA

Fortescue Metals Group hits export goal amid 36pc discount

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 27-Jul-18

Pure-play iron ore miner Fortescue Metals Group has advised that its shipments reached a record 46.5 million tonnes in the final quarter of 2017-18, and it shipped 169.7 million tonnes in the full year. Fortescue had flagged total shipments of 170 million tonnes for the financial year. Fortescue’s unit costs averaged $US12.36 per tonne in 2017-18, and it received an average of 64 per cent of the benchmark price of iron ore. Rising demand for higher-grade iron ore in China prompted Fortescue to downgrade its price realisation forecast several times during 2017-18.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

Bank customers becoming less likely to recommend their bank

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Jul-18

New results from Roy Morgan shows that bank customers are now less likely to recommend their bank than they were prior to the Finance Royal Commission. In February 2018, 59.0% of main financial institution bank customers were highly likely to recommend their bank to a friend or colleague, but it has fallen to 54.4% in June. It is now at the lowest monthly level since November 2016 when it was 54.1%, although it remains well up on the 45.8% of June 2008. In the six months to June 2018, 83.3% of ING customers who consider it to be their MFI were very likely to recommend it, the highest level of the 10 largest banks and an increase of 12.6% points over the last year. In second place was Bendigo Bank with 68.7%, followed by Bank of Queensland (61.2%) and St George (60.5%). Roy Morgan’s "Advocacy Report – Financial Institutions June 2018" is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including over 4,000 bank customers per month.

CORPORATES
ROY MORGAN LIMITED, ING BANK (AUSTRALIA) LIMITED, BENDIGO BANK, BANK OF QUEENSLAND LIMITED – ASX BOQ, ST GEORGE BANK LIMITED

Risks making volatility an asset

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Original article by Samantha Bailey
The Australian – Page: 30 : 27-Jul-18

The prices of asset classes such as equities, bonds, commodities and real estate have risen sharply as global interest rates begin to rise from historic lows. Triple3 Partners’ chief investment officer Simon Ho says now is a good time to invest in volatility, which has been recognised as an asset class for more than a decade. Triple’s portfolio includes about $70 million worth of volatility strategies.

CORPORATES
TRIPLE THREE PARTNERS PTY LTD, TRIBECA INVESTMENT PARTNERS PTY LTD

Spotless accused of scam to underpay cleaners

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Original article by Ewin Hannan
The Australian – Page: 7 : 26-Jul-18

United Voice alleges that Spotless Group was part of a conspiracy to cheat cleaning staff at Myer stores out of wages and entitlements. The union has launched legal action against Spotless, claiming that 58 cleaners had been required to register as independent contractors rather than employees. They were therefore not entitled to superannuation or penalty rates, and were paid a flat hourly wage that was below the award rate. Spotless has denied that it had engaged in sham contracting. United Voice is seeking penalties of at least $A1m.

CORPORATES
SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, UNITED VOICE, MYER HOLDINGS LIMITED – ASX MYR, INCI CORP PTY LTD, FEDERAL COURT OF AUSTRALIA, MAURICE BLACKBURN PTY LTD