Author: roymorgansocial

CFMMEU penalties hit $15m after abuse case

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Original article by Ewin Hannan
The Australian – Page: 2 : 15-Jun-18

The Construction, Forestry, Maritime, Mining & Energy Union has been fined $A43,200 over the conduct of organiser Bradley Upton. The Federal Court ruled that Upton had sought to intimidate non-union workers on the Gorgon LNG project into joining the union at a meeting in December 2015. Justice Michael Barker said his conduct was "quite appalling" and fined him $A8,100. Workplace Minister Craig Laundy has warned that such conduct in the workplace will occur frequently under Labor’s proposed union right-of-entry laws.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

One Nation rebel fires parting shot

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Original article by Rachel Baxendale
The Australian – Page: 2 : 15-Jun-18

One Nation has lost the balance of power in the Senate following senator Brian Burston’s decision to quit the party and become an independent. He says the falling out over One Nation’s stance on the Federal Government’s corporate tax package contributed to his departure from the party, which will now hold just two seats in the upper house. Burston will continue to support the tax package, and he hopes One Nation’s remaining senators Pauline Hanson and Peter Georgiou will do so as well. The tax package requires the support of eight of the 10 crossbenchers.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF FINANCE

$86bn bid for Fox ignites Disney fight

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Original article by Shalini Ramachandran, Erich Schwartzel
The Australian – Page: 25 : 15-Jun-18

US media group Comcast has offered $US35 per share for the bulk of 21st Century Fox’s entertainment assets, valuing its bid at about $US65bn ($A86bn). Fox has advised that it will "carefully review and consider" the cash bid, which has trumped Walt Disney Company’s scrip bid. The Disney offer is valued at $US29.18 per share based on Fox’s current share price. Fox would retain assets such as Fox News and its broadcast TV network if either bid succeeds.

CORPORATES
21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, WALT DISNEY COMPANY, FOX NEWS, FOX BROADCASTING COMPANY, AT&T CORPORATION, TIME WARNER INCORPORATED, HBO, CNN, WARNER BROS, BARCLAYS BANK PLC, NETFLIX INCORPORATED, HULU LLC, FACEBOOK INCORPORATED

BHP approves $4.5b South Flank iron ore mine in Western Australia

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 15-Jun-18

Production at BHP Billiton’s South Flank iron ore mine in the Pilbara will commence in 2021, after its board approved the $US3.4bn ($A4.49bn) project. BHP will contribute $US2.9bn ($A3.8bn) to South Flank’s development, with its partners Itochu and Mitsui to provide the rest of the funding. South Flank is slated to produce 80 million tonnes of iron ore annually over a 25-year mine life, and will replace BHP’s Yandi mine. The project will increase BHP’s average iron grade from 61 per cent to 62 per cent.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ITOCHU COAL RESOURCES AUSTRALIA PTY LTD, MITSUI AND COMPANY LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, NATIONAL PARTY OF AUSTRALIA

Haoma Mining shares can now be bought or sold via PrimaryMarkets trading platform – see last link under above Financial Indicators

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Original article by
Haoma Mining NL Announcements – Page: Online : 15-Jun-18

PrimaryMarkets provides a transparent and easy to use share trading platform that investors can use to trade shares in a range of companies including Haoma. The last item under the above ‘Financial Indicators’ is linked to current Trade Notices for buying and selling of shares in Haoma. Haoma’s Directors are considering how the recent significant changes in Atlas Iron shareholding could be a benefit. Haoma has a significant royalty entitlement under an agreement with Atlas Iron which involves the Mt Webber Dalton iron ore reserves. In addition Haoma holds nearly tenements which contain gold & PGM, iron ore, lithium, rare earths and nickel.

CORPORATES
HAOMA MINING NL, PRIMARY MARKETS, ATLAS IRON LIMITED – ASX AGO

Fed hikes put squeeze on banks

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Original article by Karen Maley
The Australian Financial Review – Page: 1 & 28 : 15-Jun-18

The US Federal Reserve has signalled that two more interest rate increases are likely in 2018, following its second rate rise for the year. The new target range for the federal funds rate is between 1.75% and 2%, while the Reserve Bank of Australia has kept its cash rate at 1.5% for almost two years. The divergence in monetary policy has coincided with rising wholesale borrowing costs for Australia’s major banks, as well as a recent spike in the bank bill swap rate. Shane Oliver of AMP says local banks could potentially respond by increasing their mortgage rates on investment and interest-only loans.

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, FINANCIAL STABILITY BOARD, DEUTSCHE BANK AG, SOCIETE GENERALE SA, BNP PARIBAS SA, GRUPO SANTANDER

Labor credit report delay will entrench banks: Fintechs

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Original article by James Eyers
The Australian Financial Review – Page: 17 : 15-Jun-18

The CEOs of five financial technology lenders have urged shadow treasurer Chris Bowen to reconsider Labor’s push for a key part of the comprehensive credit reporting regime to be delayed for 12 months. The CCR regulations are slated to take effect on 1 July, but Labor has advocated deferring the reporting of repayment history information for a year. The CEOs of SocietyOne, RateSetter, MoneyPlace, Harmoney and WISR have warned that such a delay will allow the major banks to retain their competitive advantage.

CORPORATES
AUSTRALIAN LABOR PARTY, SOCIETYONE AUSTRALIA PTY LTD, RATESETTER AUSTRALIA PTY LTD, MONEYPLACE PTY LTD, HARMONEY LIMITED, WISR LIMITED – ASX WZR

Renewables rush a risk to industry

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Original article by Ben Packham
The Australian – Page: 1 & 6 : 15-Jun-18

Large electricity users are concerned about the impact of the Federal Government’s national energy guarantee on baseload power supply. Tomago Aluminium CEO Matt Howell argues that some industrial users require competitively priced baseload power around the clock, which renewables cannot guarantee without reliable storage technology. Resources Minister Matt Canavan says coal is still the best option for supplying cheap and reliable baseload power, and he warns that coal would no longer be competitive under Labor’s carbon emissions policy.

CORPORATES
TOMAGO ALUMINIUM COMPANY PTY LTD, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY, MANUFACTURING AUSTRALIA LIMITED, BLUESCOPE STEEL LIMITED – ASX BSL, CSR LIMITED – ASX CSR, DULUXGROUP LIMITED – ASX DLX, BRICKWORKS LIMITED – ASX BKW, ADELAIDE BRIGHTON LIMITED – ASX ABC, CEMENT AUSTRALIA PTY LTD, RHEEM AUSTRALIA LIMITED, TESLA INCORPORATED, AGL ENERGY LIMITED – ASX AGL

Google braces for conga line of claims

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Original article by Michael Pelly
The Australian Financial Review – Page: 33 : 15-Jun-18

Mills Oakley partner Stuart Gibson says at least 20 defamation cases against Google could proceed after the High Court ruled that Michael Trkulja can take legal action against the digital giant. Gibson represented Trkulja in his bid to overturn the Victorian Court of Appeal’s ruling that he had no prospect of success in his claim against Google. Trkulja launched legal action after search engine results implied that he was linked to Melbourne’s underworld.

CORPORATES
GOOGLE INCORPORATED, MILLS OAKLEY LAWYERS PTY LTD, HIGH COURT OF AUSTRALIA, COURT OF APPEAL (VICTORIA), YAHOO! INCORPORATED, UNIVERSITY OF SYDNEY

Hodgman Liberals to lock in bigger surplus

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Original article by Matthew Denholm
The Australian – Page: 6 : 14-Jun-18

The Tasmanian Government is poised to announce a 2017-18 surplus of $A75m in its June 2018 Budget, compared with its previous forecast of a $A54m surplus. The Budget bottom line will be boosted by higher tax revenue as a result of the state’s strong economy. Measures to be unveiled in the Budget on 14 June include funding for the second stage of the government’s affordable housing scheme and a policy of capping wage rises for public servants at two per cent a year.

CORPORATES
TASMANIA. DEPT OF TREASURY AND FINANCE