Author: roymorgansocial

WiseTech helps Aussie tech beat Nasdaq

roymorgansocial Leave a comment

Original article by Joanne Tran
The Australian Financial Review – Page: 23 : 3-Dec-24

The S&P/ASX 200 Techology Index had gained 56.4 per cent so far in 2024. The index has outperformed the Australian sharemarket’s other 11 industry groups and the technology-focused NASDAQ-100 in the US, which has gained 24.4 per cent. WiseTech Global, Life360, Xero and Technology One are amongst the ASX-listed technology stocks that have rallied in 2024. Tim Riordan from Blackwattle Investment Partners says factors such as the strong financial metrics of tech stocks has bolstered investor support for the sector. He adds that concerns about the outlook for resources stocks has also prompted investors to favour the tech sector.

CORPORATES
STANDARD AND POOR’S ASX 200 TECHNOLOGY INDEX, NASDAQ, WISETECH GLOBAL LIMITED – ASX WTC, LIFE360 INCORPORATED – ASX 360, XERO LIMITED – ASX XRO, TECHNOLOGY ONE LIMITED – ASX TNE, BLACKWATTLE INVESTMENT PARTNERS PTY LTD

Australia has Trump trade-war plan: Farrell

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 8 : 3-Dec-24

Trade Minister Don Farrell says he plans to work with other countries to try to offset the potential impact that Donald Trump’s proposed tariffs are likely to have on global trade. Farrell met with the World Trade Organisation’s recently re-appointed director-general Ngozi Okonjo-Iweala on the sidelines of an economics conference in Singapore on Monday, with the two reaffirming the need to maintain free and fair trade, while he has indicated Australia will stress the expensive military purchases it is making from the US as part of the AUKUS treaty to make the case that Australian commodities should escape US tariffs.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WORLD TRADE ORGANIZATION

Broadcasters go all in on reality shows

roymorgansocial Leave a comment

Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 12 & 17 : 3-Dec-24

The Nine Network’s head of programming Hamish Turner notes that the death of reality television had been forecast two decades ago. However, the format remains as popular as ever, and research from Ampere Analysis has found that unscripted shows now account for 75 per cent of all TV programs that are commissioned worldwide. Unscripted shows also comprise four out of every five TV shows that are commissioned in Australia. Local free-to-air networks will rely heavily on reality TV again in 2025; the Ten Network will broadcast the latest iteration of ‘Big Brother’, more than 20 years after launching the format in Australia.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, AMPERE ANALYSIS

Bosses reject ACTU’s new bargaining push

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 4 : 3-Dec-24

The Australian Resources & Energy Employer Association has called for restrictions on the use of multi-employer bargaining. Its submission to a review of the federal government’s ‘Secure Jobs, Better Pay’ laws has argued that it should only be available in workplaces where an employer has agreed to bargain collectively. AREEA also opposes the ACTU’s push to broaden the scope of multi-employer bargaining, while it has called for the intractable bargaining provisions to be wound back.

CORPORATES
AUSTRALIAN RESOURCES AND ENERGY EMPLOYER ASSOCIATION, ACTU

Mining profits suffer a $4.6bn hit

roymorgansocial Leave a comment

Original article by Jack Quail
The Australian – Page: 4 : 3-Dec-24

Data from the Australian Bureau of Statistics shows that profits in the nation’s resources sector fell by 8.8 per cent to $47.4bn in the September quarter. The $4.6bn downturn was driven by a decline in iron ore and coal exports, which will weigh on the federal government’s revenue and the budget bottom line. The figures also show that non-mining profits fell by 1.7 per cent to $74.1bn during the quarter, and by 2.8 per cent in the year to September. Meanwhile, GDP data to be released on Wednesday is expected to show that the economy grew by 0.5 per cent in the September quarter and 1.1 per cent year-on-year.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Northern Star in De Grey takeover

roymorgansocial Leave a comment

Original article by Brad Thompson, Valerina Changarathil
The Australian – Page: 13 & 19 : 3-Dec-24

Northern Star Resources will acquire smaller gold producer De Grey Mining via a scheme of arrangement. The all-scrip $5bn deal has been unanimously backed by De Grey’s directors, and is subject to shareholder and court approval. Northern Star’s offer comprises 0.119 of its shares for each De Grey share; the latter’s assets include the undeveloped Hemi project in Western Australia, which is slated to produce 530,000 ounces of gold a year during the first decade of operation. Northern Star CEO Stuart Tonkin says he is not concerned about acquiring Hemi without final federal and state environmental approvals in place.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, DE GREY MINING LIMITED – ASX DEG

Red flags: Canberra warning to China on rare earths project

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian – Page: 13 & 16 : 3-Dec-24

Rare earths producer Northern Minerals is continuing to attract scrutiny from the federal government regarding its links to Chinese investors. A spokesman for the Treasury has advised that it assesessing compliance with an order requiring five China-linked entities to divest shares in the company. The spokesman said the government will take further action if required to protect the national interest. Singapore-registered Yuxiao Fund is one of the entities that was required to divest shares; however, Northern Minerals has not been able to contact one of the Hong Kong-registered ­companies that acquired the shares.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU, AUSTRALIA. DEPT OF THE TREASURY, YUXIAO FUND

Victoria: From Garden State to basket case

roymorgansocial Leave a comment

Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 3-Dec-24

The Business Council of Australia has released a report which ranks Victoria as the worst state or territory as a place for doing business. The BCA has assessed each jurisdiction based on factors such as red tape, payroll taxes, retail trading hours, property taxes and planning regimes. BCA CEO Bran Black says Victoria has some of nation’s least competitive property taxes, payroll taxes and business licensing requirements; he contends that the state’s regulatory environment is putting a ‘handbrake’ on its economy. The report concluded that South Australia is the best state or territory in which to do business, ahead of Tasmania and the ACT.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA

Federal public sector jobs surging under Albanese

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 5 : 27-Nov-24

The federal government tabled the latest State of the Service report in parliament on Tuesday, which shows that the number of public sector employees has risen sharply since Labor took office in May 2022. The headcount was 159,190 in mid-2022, but this had risen by 16.4 per cent to 185,343 by the end of the 2023-24 financial year. The National Disability Insurance Agency has recorded the biggest increase in headcount amongst federal agencies. The report also shows that 555 public servants were found to have breached the code of conduct in 2023-24, although only 61 had their employment terminated.

CORPORATES
AUSTRALIAN LABOR PARTY

ALP hidden spending to top $87b

roymorgansocial Leave a comment

Original article by Michael Read
The Australian Financial Review – Page: 1 & 6 : 27-Nov-24

The federal government’s growing trend towards ‘off-budget’ spending will be a key contributor to the overall deficit blowout that Deloitte Access Economics has forecast. The firm expects the government to post an underlying deficit of $33.5bn for 2024-25, but it estimates that the headline deficit will be $54.8bn. Economist Chris Richardson says the latter figure deserves greater scrutiny, as it can be used to conceal the real state of the nation’s finances. So-called off-budget spending – which does not affect the budget deficit or surplus – is forecast to reach a record $87.1bn over the next four years.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD