Author: roymorgansocial

Shorten vows he’ll restore Sunday penalties in 100 days

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Original article by Ewin Hannan
The Australian – Page: 6 : 18-Jul-18

Opposition Leader Bill Shorten has told the ACTU Congress that he will reverse weekend penalty rate cuts within his first 100 days in office if Labor wins the next election. He also committed to amending the Fair Work Act to prevent penalty rates from being "arbitrarily" reduced in the future. Labor will also legislate for casual staff to become permanent employees after a certain period of continuous employment.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU

Australia’s unemployed have the highest Inflation Expectations at 5.5%

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

Australians aged +14 expect inflation of 4.5% per year over the next two years, according to the Roy Morgan Inflation Expectations Index for June 2018. This is up 0.2% from a month ago, and up 0.3% on June 2017. Inflation Expectations have now tracked in a narrow range between 4.3%-4.5% for 12 straight months since July 2017. Following this month’s fall, Inflation Expectations remain well below the eight-year average of 5.0%. Analysis by employment status shows that Inflation Expectations are up amongst all categories over the past year. The biggest increase is for unemployed Australians, who now have Inflation Expectations of 5.5% (up a significant 0.7% from a year ago), while the smallest increase is for Australians employed full-time (up only 0.2% to 4% and the lowest of any employment category). June Inflation Expectations are based on a nationwide face-to-face survey of 4,300 Australians aged 14+.

CORPORATES
ROY MORGAN LIMITED

NEG too costly, say big energy users

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Original article by Perry Williams, Joe Kelly, Ben Packham
The Australian – Page: 1 & 6 : 18-Jul-18

The ACTU has expressed concern that the federal government’s proposed national energy guarantee will result in higher electricity prices and ensure that large electricity retailers retain their market power. The ACTU has also questioned whether the NEG will have much impact on carbon emissions. Major industrial users of electricity have also warned that the NEG is unlikely to result in lower electricity prices.

CORPORATES
ACTU, DOW CHEMICAL AUSTRALIA LIMITED, BRICKWORKS LIMITED – ASX BKW, RUSAL AUSTRALIA PTY LTD, RIO TINTO LIMITED – ASX RIO, QUEENSLAND ALUMINA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA

Staff in shock as SBS boss resigns

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Original article by Stephen Brook
The Australian – Page: 3 : 18-Jul-18

Michael Ebeid will step down as the managing director of SBS in October, after more than seven years in the role. The public broadcaster launched its Food Network channel and the SBS On Demand streaming service during his tenure, while it was accused of breaching its charter by targeting commercial TV audiences with the launch of the SBS Viceland channel. Communications Minister Mitch Fifield has praised Ebeid’s contribution to SBS.

CORPORATES
SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN BROADCASTING CORPORATION, VICELAND, IBM AUSTRALIA LIMITED, SINGTEL OPTUS PTY LTD, TWO WAY LIMITED, AUSTRALIAN LABOR PARTY

ANZ-Roy Morgan Consumer Confidence up to 121.5

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

ANZ-Roy Morgan Australian Consumer Confidence rose 1.2% to 121.5 in the week ended 15 July, following four straight weekly declines. Consumers’ views towards current financial conditions rose 1.5%, partially recovering from the 2.7% decline in the previous week. Sentiment around future financial conditions rose 0.5% on the back of a 1.5% rise in the previous week. Households’ assessment of current economic conditions was broadly flat (0.2%), following a solid 2.7% rise previously. Consumers’ views towards future economic conditions improved 1.2%. Both subindices sit above their long-term averages. The "time to buy a household item" subindex bounced 2.4%.

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

RBA flags risk of record household debt

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Original article by David Uren
The Australian – Page: 2 : 18-Jul-18

The minutes of the Reserve Bank of Australia’s board meeting for July indicate that although the central bank expects to begin tightening monetary policy, it is in no hurry to do so. The minutes also show that high levels of household debt continues to be a concern for the central bank. It noted that while an increase in the cash rate could be expected to reduce consumer spending, the high level of debt means a rate cut may not necessarily result in increased spending.

CORPORATES
RESERVE BANK OF AUSTRALIA

Perpetual motion: Lloyd to lead NAB wealth spin-off

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Original article by Cliona O’Dowd
The Australian – Page: 17 & 21 : 18-Jul-18

National Australia Bank has advised that Geoff Lloyd will become CEO of its MLC wealth business on 1 September. Lloyd recently stepped down as CEO of Perpetual after six years, a period which saw strong growth in its profits and share price. NAB plans to divest MLC via a sharemarket float or trade sale, and Lloyd says the opportunity to grow the business as a stand-alone wealth manager was a key reason for his decision to take on the role. The spin-off will include NAB’s superannuation and financial planning businesses.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MLC LIMITED, PERPETUAL LIMITED – ASX PPT, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, IOOF HOLDINGS LIMITED – ASX IFL, JBWERE LIMITED, NABTRADE, AMP LIMITED – ASX AMP, LEND LEASE GROUP LIMITED – ASX LLC, NIPPON LIFE INSURANCE COMPANY LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Lithium past its peak as price slides

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Original article by Peter Ker
The Australian Financial Review – Page: 16 : 18-Jul-18

Galaxy Resources has advised that the price of lithium carbonate exported to China fell by 18 per cent in the June quarter, while the price of lithium hydroxide was down four per cent. The price of lithium carbonate sold into China had fallen by 10 per cent in the March quarter, and lithium hydroxide fell by three per cent. Galaxy Resources had attributed that decline to seasonal factors. Galaxy has now suggested that the Chinese price for lithium is converging with global prices.

CORPORATES
GALAXY RESOURCES LIMITED – ASX GXY, OROCOBRE LIMITED – ASX ORE, CANACCORD GENUITY (AUSTRALIA) LIMITED, TIANQI LITHIUM CORPORATION, PILBARA MINERALS LIMITED – ASX PLS

Rio, Vale boost output and market share

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 16 : 18-Jul-18

Rio Tinto’s iron ore shipments from the Pilbara totalled 168.8 million tonnes in the first half of 2018, which is 9.4 per cent higher than previously. Rio Tinto has advised that its export volumes will be similar in the second half, and shipments for the calendar year are expected to be at the higher end of its guidance of between 330 million and 340 million tonnes. Brazilian rival Vale has reported production of 96.8 million tonnes and sales of 86.5 million tonnes of iron ore for the June quarter. It will increase production by 18 per cent in the second half, and it will target full-year output of around 390 million tonnes.

CORPORATES
RIO TINTO LIMITED – ASX RIO, VALE SA, BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, CLEVELAND-CLIFFS INCORPORATED, ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG

Warning on rush to build LNG terminals

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Original article by Paul Garvey
The Australian – Page: 20 : 17-Jul-18

Four LNG import terminals are currently mooted for Australia; two in Victoria, and one each in New South Wales and South Australia. However, Nicholas Browne from Wood Mackenzie says Australia does not need that many terminals, based on its current market forecasts. Of the four terminals currently flagged, Browne says AGL’s proposed terminal at Crib Point in Victoria is most likely to be developed first.

CORPORATES
WOOD MACKENZIE, AGL ENERGY LIMITED – ASX AGL, EXXONMOBIL AUSTRALIA PTY LTD, MITSUBISHI CORPORATION