Author: roymorgansocial

Key senators link company tax cuts to hit on tech giants

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Original article by Joe Kelly, Simon Benson
The Australian – Page: 4 : 1-Jun-18

Centre Alliance senator Stirling Griff has indicated that the party remains open to supporting the federal government’s corporate tax cuts package. He says Centre Alliance would need concessions such as the introduction of a tax on digital companies in return for backing the tax package. Griff adds that his party is reviewing the third stage of the government’s personal income tax cuts package, and may still be open to supporting the bill in its entirety or legislating the third stage separately. Centre Alliance has two seats in the upper house.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Howard: End freeze with China

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Original article by Dennis Shanahan
The Australian – Page: 1 & 8 : 1-Jun-18

Former prime minister John Howard has made the point that Chinese president Xi Jinping likes Australia. With the relationship between Australia and China somewhat strained at the moment, Howard suggests that a face-to-face meeting between their respective leaders would be a good starting point in helping to ease tensions. He notes that the "turning point" in a 1996 dispute between Australia and China over naval rights in the Taiwan Straits was a meeting in Manila between himself and Jiang Zemin, China’s president at the time.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, UNIVERSITY OF TECHNOLOGY, SYDNEY. AUSTRALIA-CHINA RELATIONS INSTITUTE

Gupta plans bank for businesses

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Original article by Luke Griffiths
The Australian – Page: 6 : 1-Jun-18

British billionaire Sanjeev Gupta wants to start a business-focused bank in Australia, and is looking at possible acquisition targets. Gupta’s GFG Alliance operates Wyelands Bank in the UK, which targets small and medium businesses, and Gupta says his proposed Australian bank would have a similar focus. Australian Industry Group CEO Innes Willox says such a bank would be welcomed, particularly as borrowing might become harder in the wake of the banking royal commission.

CORPORATES
GFG ALLIANCE, WYELANDS BANK, THE AUSTRALIAN INDUSTRY GROUP, ZEN ENERGY PTY LTD, TUNGSTEN BANK, DIAMOND BAY CLEANING SERVICES, BAILLIEU HOLST LIMITED, ARRIUM LIMITED, GLENCORE AUSTRALIA PTY LTD, DIAMOND BANK

NAB admits it had no right to customer’s house

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Original article by Ben Butler, Elizabeth Redman
The Australian – Page: 23 : 1-Jun-18

National Australia Bank business customer Ross Dillon was cross-examined before the banking royal commission on 31 May. NAB’s Ross McNaughton admitted that the bank had no legal entitlement to use the entire proceeds from the sale of Dillon’s home to pay off the debts of his business. He said that NAB would only have a legal claim to the proceeds if the business defaulted. Dillon maintained that it had never been his intention to solely pay down his business debts with the proceeds from the sale of his family home.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

ASX, PEXA square up in settlement market

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 15 & 26 : 1-Jun-18

The ASX and Infotrack have announced a joint venture aimed at targeting the electronic property settlement market, which is valued at $A200 million. Sympli Australia is expected to be up and running by the end of 2018, and will compete with existing market participant Property Exchange Australia, whose shareholders include the big four banks and Link Group. The ASX expects to invest $A30 million in Sympli in the first three years of its operation.

CORPORATES
ASX LIMITED – ASX ASX, INFOTRACK PTY LTD, PROPERTY EXCHANGE AUSTRALIA, LINK ADMINISTRATION HOLDINGS LIMITED – ASX LNK, MACQUARIE GROUP LIMITED – ASX MQG, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED, RESERVE BANK OF AUSTRALIA

McDonald’s, KFC & Domino’s Pizza most visited NZ restaurants

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Jun-18

A Roy Morgan Single Source survey shows that 84.8% of New Zealanders bought or ate take away food in the year to March 2018. The survey also shows that 33.2% of New Zealanders visit or purchase from McDonald’s in an average four weeks, ahead of KFC (17.7%) and Domino’s Pizza (15%). Analysing the leading fast food outlets by generation shows that 80.8% of Generation X and 77.3% of Millennials visit or purchase fast food in an average four weeks. This is substantially more than either Baby Boomers (68.1%), Generation Z (66.1%) or Pre-Boomers (54.1%).

CORPORATES
ROY MORGAN LIMITED, McDONALD’S RESTAURANTS (NEW ZEALAND) LIMITED, KFC, DOMINO’S PIZZA NEW ZEALAND LIMITED, BURGER KING CORPORATION, SUBWAY INCORPORATED

Santos in $400m bid to lift gas supply

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 1-Jun-18

Santos has confirmed that it will proceed with the Arcadia gas project in Queensland’s Bowen Basin, which will boost coal-seam gas supplies to the Gladstone LNG plant by 75 terajoules a day. Santos drilled 13 gas wells in a pilot project at Arcadia, and the full project will comprise 137 wells and associated infrastructure. About 300 jobs are expected to be created during the construction phase, while Santos MD Kevin Gallagher says Arcadia should help put downward pressure on east coast gas prices.

CORPORATES
SANTOS LIMITED – ASX STO, GLADSTONE LNG PTY LTD, PETRONAS GAS BHD, TOTAL SA, KOREA GAS CORPORATION, QUEENSLAND. DEPT OF NATURAL RESOURCES AND MINES

Code too complex to regulate, says Google

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Original article by Darren Davidson
The Australian – Page: 24 : 1-Jun-18

The search algorithms of digital companies like Google and Facebook are attracting growing scrutiny by regulators such as the Australian Competition & Consumer Commission and the European Commission. However, Google Australia MD Jason Pellegrino has rejected a proposal to establish an algorithm review board, arguing that it would be "unworkable" as Google has multiple algorithms which involve many variables.

CORPORATES
GOOGLE AUSTRALIA PTY LTD, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, AMAZON.COM INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, EUROPEAN COMMISSION, NEWS CORPORATION – ASX NWS, KLEINER PERKINS CAUFIELD AND BYERS, HACHETTE LIVRE

Dan Murphy’s holds off surge in Cellarbrations satisfaction

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Jun-18

Dan Murphy’s has won the Roy Morgan Liquor Store Monthly Customer Satisfaction Award for April, with a customer satisfaction rating of 94.5%. The win for Dan Murphy’s tops off a hat-trick of wins for the retailer over the last three months, just ahead of rival Cellarbrations on 93.8%. The current top five most satisfying liquor stores have improved their customer satisfaction ratings over the last 12 months. Dan Murphy’s is up 3.1ppts while second-placed Cellarbrations is up 12.4ppts – an average improvement of over 1ppt per month. Analysing the broader liquor store chains shows that Woolworths-owned Endeavour Drinks Group has a group customer satisfaction of 92.4%, just behind Metcash’s Australian Liquor Marketers (ALM) on 93%.

CORPORATES
ROY MORGAN LIMITED, DAN MURPHY’S, CELLARBRATIONS, ALDI LIQUOR, FIRST CHOICE LIQUOR SUPERSTORE, IGA LIQUOR, BWS – BEER WINE SPIRITS, CELLARMASTER WINES PTY LTD, ENDEAVOUR DRINKS GROUP, WOOLWORTHS LIQUOR, METCASH LIMITED – ASX MTS, AUSTRALIAN LIQUOR MARKETERS PTY LTD, THE BOTTLE-O, PORTER’S LIQUOR, COLES GROUP LIMITED, LIQUORLAND (AUSTRALIA) PTY LTD, COLES LIQUOR, VINTAGE CELLARS (AUSTRALIA) PTY LTD, LIQUOR MARKET

CBA’s risk overhaul could take five years, inquiry told

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Original article by James Frost
The Australian Financial Review – Page: 8 : 31-May-18

The Commonwealth Bank of Australia’s risk management practices came under scrutiny by the banking royal commission on 30 May. Chief risk officer David Cohen conceded that the bank’s risk function is still inadequate and warned that changes to its risk management systems will not be fully implemented for up to five years. He also expressed the view that CBA needs to "return to the basics" with regard to its risk function.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, BANKWEST, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY