Author: roymorgansocial

Junior miners lead surge in mergers

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Original article by Paul Garvey
The Australian – Page: 17 & 18 : 4-Jun-18

Australian-listed mining companies have been involved in nearly $US12 billion ($A15.8 billion) worth of mergers and acquisitions since the start of 2017-18, the highest level of activity since the 2012 financial year, when the mining boom was at its peak. Most deals involve small and medium-sized mining firms, with Eddie Rigg of advisory firm Argonaut saying it "has never been busier". He says some smaller firms are taking the view that the best way to "realise value" is to be acquired, rather than trying to develop deposits themselves.

CORPORATES
ARGONAUT SECURITIES PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, CITIGROUP PTY LTD, LION SELECTION GROUP LIMITED – ASX LSX, SOJITZ CORPORATION

Hike in wages a direct threat to jobs

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Original article by John Slater
The Age – Page: 19 : 4-Jun-18

The minimum wage will increase by $A24.30 per week, which is significantly lower than the $A50 rise that had been advocated by the ACTU. The 3.5 per cent increase announced by the Fair Work Commission is still well above the inflation rate, and research by shadow assistant treasurer Andrew Leigh refutes the ACTU’s claim that a large increase in the minimum wage will prompt strong growth in jobs. The best way to lift the income of low-paid workers and to create jobs for the unemployed is to reduce the tax and regulatory burdens that deter businesses from hiring additional staff.

CORPORATES
ACTU, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, THE MENZIES RESEARCH CENTRE LIMITED

Tax Office reveals its top targets for audits

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Original article by Duncan Hughes
The Australian Financial Review – Page: 7 : 4-Jun-18

Home offices, cryptocurrencies and property investments will be among the Australian Taxation Office’s main areas of scrutiny when it comes to assessing 2017-18 tax returns. ATO assistant commissioner Kath Anderson notes that the amount of data that it collects each year continues to grow, making it easier to compare taxpayers to others with similar incomes and occupations to see whether appropriate deductions are being claimed.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AIRBNB AUSTRALIA PTY LTD

ANZ cartel matter unsettles financial community

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 4 : 4-Jun-18

Many legal experts expect that persuading a jury that the parties involved in the ANZ Bank’s cartel case had deliberately sought to break the law will be hard, while others note that a civil case would be easier to win. The Director of Public Prosecutions is pursuing a criminal cartel case against ANZ, Citi and Deutsche Bank on behalf of the Australian Competition & Consumer Commission. A third investment bank, JP Morgan, has been granted immunity from prosecution.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CITIGROUP PTY LTD, DEUTSCHE BANK AG, JP MORGAN AUSTRALIA LIMITED, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, COUNTRY CARE, UNILEVER PLC, BRITISH VIRGIN, CUSSONS

Nine, Sky plan free business channel

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Original article by Darren Davidson
The Australian – Page: 24 & 26 : 4-Jun-18

News Corp Australia and Nine Entertainment Company have declined to comment on reports that they are in talks to launch a free-to-air version of Sky News Business. They are believed to be negotiating a deal for Nine to acquire a 50 per cent stake in Sky News Business, which would replace one of Nine’s infomercial channels. The main Sky News channel recently secured an exclusive deal to provide content to WIN Corporation in regional areas.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SKY BUSINESS NEWS, SKY NEWS, WIN CORPORATION PTY LTD, AUSTRALIAN NEWS CHANNEL PTY LTD, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, SKY PLC, 21ST CENTURY FOX INCORPORATED, STAN ENTERTAINMENT PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, FOXTEL MANAGEMENT PTY LTD

Fifield attacks ABC on independence

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Original article by Darren Davidson
The Australian – Page: 24 : 4-Jun-18

Communications Minister Mitch Fifield has made his sixth complaint to the ABC in just five months with regard to the public broadcaster’s news coverage. The latest complaint concerns the ABC’s reports on the selection of the date for five upcoming by-elections. Meanwhile, Fifield has stressed the need for the ABC to be impartial and independent, and argues that all media organisations in Australia should be open to feedback from politicians and the general public.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Restoran Sederhana & KFC battle to be top Indonesian restaurant

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-18

A Roy Morgan Single Source survey shows that over 55 million Indonesians aged 14+ (34.3%) eat food from restaurants or fast food outlets in an average six months. Restoran Sederhana is the most visited restaurant, with over 28.4 million Indonesians visiting in an average six months. It is followed by KFC (24 million visitors), McDonald’s (7.7 million) and Pizza Hut (6.5 million). Patronage of fast food restaurants is significantly higher in Indonesia’s biggest city of Jakarta and the surrounding areas of Greater Jakarta, known as Jabodetabek. Over 12 million people living in Jabodetabek, or 59% of the area’s population, visit fast food restaurants in an average six months. Nearly 8.5 million Jabodetabek residents (40.2%) visit KFC in an average six months, while 4.5 million (21.3%) visit Restoran Sederhana.

CORPORATES
ROY MORGAN LIMITED, RESTORAN SEDERHANA, KFC, McDONALD’S FAMILY RESTAURANTS, PIZZA HUT

Australian employment up by over 350,000 in a year

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-18

A Roy Morgan survey shows that 12,415,000 Australians were employed in May 2018, an increase of 355,000 over the last year. The increase was driven by full-time employment, which rose 307,000 to 7,859,000; part-time employment was up 48,000 to 4,286,000. The figures also show that 1,316,000 million Australians were unemployed (9.8% of the workforce) in May, an increase of 32,000 (unchanged in percentage terms) on a year ago. In addition, 1,251,000 Australians (9.3% of the workforce) are now under-employed, working part-time and looking for more work, a fall of 87,000 in a year (down 0.9%). Roy Morgan’s real unemployment figure of 9.8% for May is substantially higher than the current ABS estimate for April of 5.6%. Roy Morgan CEO Michele Levine says the Fair Work Commission’s decision to raise the minimum wage by 3.5% to almost $720 per week was based on the misleading ABS unemployment figure that under-states the "true" level of unemployment and under-employment in Australia. In future the FWC needs to consider the more accurate Roy Morgan employment figures that consistently records that there are more than 2.5 million Australians looking for work or looking for more work.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. FAIR WORK COMMISSION

May Business Confidence shows usual post-Budget decline to 117.1

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-18

In Australia, Business Confidence fell 1.5pts (-1.3%) to 117.1 in May 2018, according to the latest Roy Morgan Business Single Source survey. Business Confidence traditionally falls in May following the Federal Budget. Business Confidence has now decreased in seven out of eight years in May, although the decline of 1.3% this year was the smallest May decline on record. Despite the overall fall in confidence, businesses are more confident about the performance of the Australian economy; 54.4% (up 1.8ppts) expect "good times" for the Australian economy over the next year, and 53% (up 1.6ppts) say the next 12 months is a "good time to invest" in growing the business. Roy Morgan CEO Michele Levine says the Federal Budget rewarded taxpayers with income tax cuts but businesses are still waiting for the Turnbull Government’s promised cut to the company tax rate from 30% to 25%. In addition to the disappointments surrounding the Federal Budget, the increase in the minimum wage will provide a further deterrent to businesses thinking of hiring young and unskilled staff and increase their endeavours to cut employment costs by implementing new and more cost-effective ways of doing business.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA. FAIR WORK COMMISSION

Unions push ALP for work reforms

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Original article by Troy Bramston
The Australian – Page: 5 : 1-Jun-18

The state conference of the Australian Labor Party’s New South Wales branch will be presented with a number of union-backed motions concerning changes to workplace laws. The motions cover issues such as the right to strike, pattern bargaining, wage theft, ballots on protected industrial action, workers’ compensation and unions’ right of entry to workplaces. Unions and party branches are expected to test support for the reforms at the state conference ahead of Labor’s national conference.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN MANUFACTURING WORKERS’ UNION, TRANSPORT WORKERS’ UNION