Author: roymorgansocial

Imports the only cure for gas headache

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 25-Jul-18

Mark Samter of MST Marquee says industrial gas users on Australia’s east coast should support plans to build LNG import terminals, as gas prices will keep rising. Samter has downplayed a recent report from the Australian Energy Market Operator which suggested that the gas crisis on the east coast is likely to ease due to higher production in coming years. He argues that gas prices are unlikely to fall without the proposed import terminals.

CORPORATES
MST MARQUEE, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED

What’s in store for listings in 2018

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Original article by James Frost
The Australian Financial Review – Page: 27 : 25-Jul-18

Just 39 companies listed on the Australian sharemarket during the first half of 2018, compared with 57 during the corresponding period in 2017. However, Marcus Ohm of HLB Mann Judd notes that IPO activity is traditionally higher in the second half of a calendar year. IPOs collectively raised $2.5bn in the first half of 2018, although this was dominated by the L1 Long Short Fund. The materials sector is poised to account for a significant proportion of IPOs in the second half, as it did in the first half.

CORPORATES
HLB MANN JUDD, L1 LONG SHORT FUND LIMITED – ASX LSF, LATITUDE FINANCIAL SERVICES LIMITED

Super funds face heat over other expenses

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Original article by Joanna Mather
The Australian Financial Review – Page: 1 & 4 : 25-Jul-18

The classification of superannuation funds’ expenses in the category of "other" has come under scrutiny in a background paper issued by the banking royal commission. About 20 per cent of industry super funds’ expenses are categorised as "other", compared with around 10 per cent of retail funds’ expenses. The background paper also notes that many people who switch super funds in search of lower fees and higher returns often end up with higher fees and lower returns. Superannuation will be a focus of the inquiry’s next round of public hearings, which begin on 6 August.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. PRODUCTIVITY COMMISSION, RICE WARNER ACTUARIES PTY LTD

Labor spends up big as leadership pressure builds

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Original article by Mark Ludlow, Andrew Tillett
The Australian Financial Review – Page: 5 : 25-Jul-18

Labor has made spending commitments totalling $155m during campaigning in the seat of Longman, compared with the $44.6m that has been pledged by the Coalition. Likewise, Labor has announced spending measures in excess of $183m in the seat of Braddon, while the Coalition has committed to spending $122.7m. The other three seats in which by-elections will be held on 28 July have attracted significantly fewer spending promises from both sides of politics.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, ONE NATION PARTY, CENTRE ALLIANCE

Petrol prices to drive inflation higher

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Original article by Patrick Commins
The Australian Financial Review – Page: 3 : 25-Jul-18

The median forecast of economists polled by Bloomberg is for consumer price inflation of 0.5 per cent in the June quarter, compared with 0.4 per cent in the March quarter. Australia’s consumer price inflation is forecast to have risen to 2.2 per cent in the year to June, up from 1.9 per cent previously. A sharp rise in the price of petrol in the June quarter is tipped to have been a major contributor to the rise in the inflation rate. Economists do not expect the latest inflation data to have a material impact on the outlook for official interest rates.

CORPORATES
BLOOMBERG LP, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, SOCIETE GENERALE AUSTRALIA LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, JP MORGAN AUSTRALIA LIMITED

Power price warning to Labor states

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Original article by Ben Packham
The Australian – Page: 1 & 6 : 25-Jul-18

The final version of the Federal Government’s national energy guarantee estimates that the average household’s electricity costs would fall by about $550 a year. Previous modelling had suggested that the NEG would reduce electricity bills by about $A400 a year. Meanwhile, the Energy Security Board has warned Labor-led states that investment in green energy programs will be adversely affected if they do not support the NEG at the upcoming Council of Australian Governments meeting. The ESB also says electricity prices will remain high of the NEG is not implemented.

CORPORATES
AUSTRALIA. ENERGY SECURITY BOARD, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN LABOR PARTY, THE AUSTRALIAN INDUSTRY GROUP, AGL ENERGY LIMITED – ASX AGL, TOMAGO ALUMINIUM COMPANY PTY LTD, CLEAN ENERGY COUNCIL LIMITED

Sky news junkie spreads his wings

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Original article by Darren Davidson
The Australian – Page: 21 : 25-Jul-18

News Corp Australia’s executive chairman Michael Miller has praised the contribution of Australian News Channel CEO Angelos Frangopoulos to the development of Sky News Australia. The pay-TV network’s ratings have risen in 2018, while it will shortly venture into the free-to-air market for the first time via alliances with the Nine Network and regional broadcaster WIN Corporation. Frangopoulos, who joined ANC in 1996, has been appointed CEO of Abu Dhabi-based Sky News Arabia.

CORPORATES
AUSTRALIAN NEWS CHANNEL PTY LTD, SKY NEWS AUSTRALIA, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SKY NEWS ARABIA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, 2SER, FOXTEL MANAGEMENT PTY LTD

ANZ-Roy Morgan Consumer Confidence down to 118.9

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Jul-18

ANZ-Roy Morgan Australian Consumer Confidence fell 2.1% to 118.9 in the week ended 22 July, to its lowest value in seven weeks. Households’ views towards current financial conditions fell 1.9%, more than reversing the 1.5% bounce in the previous week. Similarly, households were also less optimistic about future financial conditions, which fell 1.4%. Consumers’ assessment of current economic conditions weakened by 3.8%, more than unwinding the cumulative 2.8% rise of the previous two weeks. Views towards future economic conditions declined 3.9% to 112.7. Both subindices are at their lowest points in seven weeks. The "time to buy a household item" subindex was flat (-0.1%), holding on to its 2.4% gain in the previous week.

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

Call to rewrite ABC, SBS charters

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Original article by Darren Davidson, Stephen Brook
The Australian – Page: 3 : 25-Jul-18

News Corp Australia has used its submission to an inquiry into the competitive neutrality of the ABC and SBS to argue that taxpayer funding gives them an advantage in the distribution of news content online. The media giant has also called for the public broadcasters’ charters to be overhauled to ensure a "level-playing field" with regard to online news content. In addition, News Corp argues that the ABC should not compete with commercial rivals for contracts to supply news content to third parties.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, SKY NEWS, GOOGLE INCORPORATED

Deloitte claims tax cuts are unaffordable

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Original article by Ben Potter
The Australian Financial Review – Page: 9 : 23-Jul-18

Deloitte Access Economics’ June Business Outlook contends that the Budget is not yet healthy enough for the federal government to commit to long-term tax cuts. Shadow treasurer Chris Bowen claims that Deloitte’s comments are an indictment of the government’s tax plans, which he contends will increase the prospect that more cuts to health and education will be needed over the next 10 years. Deloitte notes that a slump in property and a decline in the Chinese economy could bring about an end to the current revenue surge that the Budget is enjoying.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE