Author: roymorgansocial

D-day is on the horizon for Meta

roymorgansocial Leave a comment

Original article by James Madden
The Australian – Page: 19 : 9-Dec-24

The federal government will shortly decide whether to ‘designate’ Facebook parent Meta under the news media bargaining code. This would force the digital giant to negotiate revenue-sharing deals with Australian news publishers, almost a year after it announced plans to terminate these arrangements. A spokesman for Assistant Treasurer Stephen Jones has downplayed suggestions that a decision on designating Meta is imminent, although sources have indicated that the government will act before Christmas.

CORPORATES
META PLATFORMS INCORPORATED, FACEBOOK, AUSTRALIA. DEPT OF THE TREASURY

PM finally acknowledges act of terror at synagogue

roymorgansocial Leave a comment

Original article by Cameron Stewart, Sarah Ison, Rosie Lewis
The Australian – Page: 1 & 3 : 9-Dec-24

Prime Minister Anthony Albanese has defended the federal government’s track record on anti-Semitism in the wake of an arson attack on a Melbourne synagogue on Friday. Albanese used a press conference on Sunday to contend that his government has consistently called out the rise in anti-Semitism. He also belatedly expressed his personal view that the attack on the Adass Israel Synagogue was an act of terrorism. However, Victorian Premier Jacinta Allan has declined to do so, stating that the firebombing was an "act of anti-Semitic evil". Meanwhile, Israeli Prime Minister Benjamin Netanyahu has linked the firebombing to the federal government’s "extreme anti-Israeli position".

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, VICTORIA. DEPT OF PREMIER AND CABINET

Nine mulls future of talkback amid exits and cuts

roymorgansocial Leave a comment

Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 21 : 9-Dec-24

Nine Entertainment’s radio division posted revenue of $103m in 2023, compared with $131.8m in 2019. Nine Radio contributes less than four per cent of the listed media group’s overall revenue, and 1.6 per cent of group EBITDA. Nine’s flagship radio stations are focused on talkback, which is competing with podcasts and streaming music platforms for audiences. Nine Radio director Tom Malone is confident about the future of the group’s radio arm. However, further on-air changes at Nine’s radio stations are possible following an overhaul at 6PR in Perth, where a recent ‘reset’ resulted in several presenters being axed and the breakfast show being extended by an hour.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE RADIO PTY LTD, 6PR SOUTHERN CROSS RADIO PTY LTD

Rio’s abandoned copper mine life threatening

roymorgansocial Leave a comment

Original article by Elouise Fowler
The Australian Financial Review – Page: 25 : 7-Dec-24

A report by consulants Tetra Tech Coffey has found that Rio Tinto’s abandoned Panguna copper mine in Bougainville poses a number of "imminent, life-threatening risks", and that it could take over 100 years for the local environment to recover from its impact. Rio abandoned the mine in 1989 after a dispute over revenue-sharing helped spark Bougainville’s civil war with Papua New Guinea, which led to the loss of more than 15,000 lives. Panguna was majority owned by Rio until 2016, when it gave up its stake in Bougainville Copper to the Papua New Guinea and Bougainville governments, but Tetra Tech Coffey’s report adds to growing pressure on Rio to assume esponsibility for the legacy of the mine.

CORPORATES
TETRA TECH COFFEY, RIO TINTO LIMITED – ASX RIO, BOUGAINVILLE COPPER LIMITED – ASX BOC

ANZ’s Elliott to quit after nine years

roymorgansocial Leave a comment

Original article by Jonathan Shapiro, Kylar Loussikian
The Australian Financial Review – Page: 1 & 23 : 9-Dec-24

The ANZ Bank is tipped to appoint an external candidate to succeed CEO Shayne Elliott, who is expected to step down within days. ANZ’s acquisition of Suncorp Bank for $4.9bn and a bond trading scandal are likely to be the key legacies of Elliott’s tenure at the helm, which began in 2016. ANZ has also scaled back its Asian operations under Elliott, while it has ramped up investment in platforms such as ANZ Plus. Meanwhile, ANZ has delivered a total return to shareholders of 111 per cent since Elliott became CEO; this higher than Westpac’s return but much lower than that of the Commonwealth Bank and National Australia Bank.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SUNCORP BANK, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Australia Post, ABC, Aussie Broadband, CSIRO and Red Cross win most trusted services and communications brands in 2024

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 9-Dec-24

Roy Morgan has presented the annual Roy Morgan Trusted Brand Awards for services companies and communications brands. Over 200 brands were in the running for these awards, across the five categories of Services, Charities, Government Services, Media and Telecommunications. Aussie Broadband has been named Australia’s ‘Most Trusted Brand in Telecommunications’ for a third consecutive year, ahead of Amaysim and TPG. Red Cross has won the ‘Most Trusted Brand in Charities’ Award for the first time, ahead of the RSPCA and The Salvation Army. The ‘Most Trusted Brand in Services’ award has been won by Australia Post, one of the few brands that touches nearly all Australians on a frequent basis. The ABC has in turn been named the ‘Most Trusted Media Brand’, having led this category since the inception of the survey six years ago, while the CSIRO is the winner of the ‘Most Trusted Brand in Government Services’ for 2024.

CORPORATES
ROY MORGAN LIMITED, AUSSIE BROADBAND LIMITED – ASX ABB, RED CROSS SOCIETY OF AUSTRALIA, AUSTRALIA POST, AUSTRALIAN BROADCASTING CORPORATION, CSIRO

Woolworths reaches enterprise agreement with striking union workers

roymorgansocial Leave a comment

Original article by Duncan Evans, Liam Beatty
Herald Sun – Page: Online : 8-Dec-24

Woolworths has begun restocking its supermarkets’ shelves after securing a new enterprise agreement for employees at four distribution centres. The deal with the United Workers Union and the Shop, Distributive and Allied Employees’ Association has ended a 17-day strike that is estimated to have cost the grocery giant about $50m in lost sales. The SDA has advised that the warehouse workers will receive a pay rise of 12.84 per cent over three years, a $1000 up-front cash payment, a $500 up-front gift card and a $500 gift card for the next two years. Weekend penalty rates for shift workers will also be increased, while Woolworths has agreed to concessions regarding its controversial performance management framework.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, UNITED WORKERS UNION, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION

Rebels declare end of Assad rule in Syria

roymorgansocial Leave a comment

Original article by
Herald Sun – Page: Online : 9-Dec-24

Islamist-led rebels have declared the end of the Assad regime in Syria, with President Bashar al-Assad said to have fled the country after more five decades of rule by the Assad family. His departure comes less than a fortnight after the Islamist Hayat Tahrir al-Sham (HTS) group launched its campaign against Assad, while Prime Minister Mohammed al-Jalali said that he was ready to co-operate with "any leadership chosen by the Syrian people". The HST stated that that its fighters had broken into a jail on the outskirts of the Syrian capital of Damascus, announcing an "end of the era of tyranny in the prison of Sednaya", which has become synonymous with the worst abuses of the Assad regime. Assad is said to have fled to Russia.

CORPORATES

ALP steps into Woolies dispute

roymorgansocial Leave a comment

Original article by Ewin Hannan, Brendan Kearns
The Australian – Page: 5 : 4-Dec-24

Woolworths estimates that the strike action by distribution centre workers has cost it about $50m in lost food sales to date. Meanwhile, Workplace Relations Minister Murray Watt and staff from his department have held talks with Woolworths executives and United Workers Union officials in a bid to resolve the impasse that has led to empty shelves at Woolworths stores in Victoria and southern NSW. The 12-day strike has also affected supplies at liquor stores Dan Murphy’s and BWS, which are owned by Woolworths spin-off Endeavour Group.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, UNITED WORKERS UNION, ENDEAVOUR GROUP LIMITED – ASX EDV, DAN MURPHY’S, BWS – BEER WINE SPIRITS

Adam Bandt pushes for formal power-sharing deal with Anthony Albanese in case of minority election

roymorgansocial Leave a comment

Original article by Jacob Greber, Greg Jennett
abc.net.au – Page: Online : 4-Dec-24

Greens leader Adam Bandt has outlined his party’s terms for helping Labor to form government if the 2025 federal election results in a hung parliament. Bandt says there would be a "lot of merit" in establishing a formal power-sharing deal with Labor that clearly states the legislative priorities for the next parliament. Bandt adds that priority areas will include expanding Medicare to include dental and mental health care for adults, free access to GPs, and action to address the rising cost of rental housing. The Greens have been more co-operative in recent weeks, and the party backed more than 40 government bills on the final day of parliament for the year.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY