Author: roymorgansocial

Greens minimum wage cost comes in at $630m

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Original article by Ben Packham
The Australian – Page: 5 : 30-May-18

The Australian Greens have proposed permanently setting the minimum wage at 60 per cent of the median wage. Greens MP Adam Bandt says this would increase the minimum wage to around $A757 per week, compared with $A695 at present. However, the policy would cost employers an additional $A630m a year. The ACTU has also advocated pegging the minimum wage to average earnings, while Labor considered but ultimately rejected such a proposal due to its likely impact on jobs.

CORPORATES
AUSTRALIAN GREENS, ACTU, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION

ALP urged to clarify company tax plan

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 30-May-18

The tax rate of businesses whose turnover is within the range of $A25m-$A50m will be reduced from 30 per cent to 27.5 per cent from 1 July, under the next stage of the Federal Government’s company tax cuts package. Council of Small Business Australia CEO Peter Strong says Labor should state whether it intends to reverse the tax cuts that have been legislated if it wins the next federal election, arguing that businesses need certainty with regard to tax policy.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Watchdog tests its extra bite on building union

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Original article by Ewin Hannan
The Australian – Page: 8 : 30-May-18

The Australian Building & Construction Commission alleges that a blockade organised by three Construction, Forestry, Mining & Energy Union representatives in May 2017 breached workplace laws. The ABCC’s legal action contends that the blockade of two Melbourne construction sites constituted a breach of the unlawful picketing provisions of the Building and Construction Industry (Improving Productivity) Act. The union representatives claimed that they had prevented workers from accessing the site on a designated rostered day off.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, FEDERAL COURT OF AUSTRALIA

Banking inquiry risks credit crunch

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Original article by Adam Creighton
The Australian – Page: 4 : 30-May-18

Treasury secretary John Fraser appeared before the Senate economics committee on 29 May. He said the banking royal commission may lead to stricter lending standards in the sector, which could in turn potentially result in a "credit crunch". Meanwhile, Finance Minister Mathias Cormann has told the committee that there is no reason for the government to provide year-by-year costings for its personal income tax cuts package. He argued that Labor did not provide such costings for the National Disability Insurance Scheme when it was in office.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, BANK OF WESTERN AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Labor’s $2000 tax sting for average workers

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Original article by Simon Benson, David Uren
The Australian – Page: 1 & 4 : 30-May-18

Prime Minister Malcolm Turnbull says 10 million Australians will receive an income tax cut in the first year of the Federal Government’s three-stage tax package. However, Shadow treasurer Chris Bowen says analysis by the Treasury shows that the top 20 per cent of income earners will benefit most from the tax package. Meanwhile, analysis of data from the Australian Taxation Office suggests that Labor’s alternative tax plan will increase the average worker’s annual tax bill by between $A500 and $A2,000 by 2024-25.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF THE TREASURY

Japan coal threat could cost jobs and billions

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Original article by Jared Owens, Matt Chambers
The Australian – Page: 1 & 2 : 30-May-18

Nippon Steel & Sumitomo Metal Corporation recently warned the Queensland Government that it may be forced to find alternative sources for coal due to a dispute between Aurizon Holdings and coal producers. It centres on the Queensland Competition Authority’s draft ruling on Aurizon’s coal rail network. Aurizon estimates that the ruling could reduce its coal haulage volumes by up to 20 million tonnes a year. Premier Annastacia Palaszczuk will give assurances to Japanese steel buyers that the state’s coal shipments will not be affected.

CORPORATES
AURIZON HOLDINGS LIMITED – ASX AZJ, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, NIPPON STEEL AND SUMITOMO METAL CORPORATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, QUEENSLAND. COMPETITION AUTHORITY, QUEENSLAND RESOURCES COUNCIL LIMITED, LIBERAL-NATIONAL PARTY OF QUEENSLAND

BHP, Queensland settle royalty stoush

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Original article by Matt Chambers, Ben Butler, Charlie Peel
The Australian – Page: 24 : 30-May-18

BHP Billiton has secured a confidential out-of-court settlement with the Queensland Government over a $A329m coal royalties dispute that centred on the miner’s marketing hub in Singapore. The case had been slated to be heard by the Supreme Court in coming days, and the settlement will enable BHP to avoid disclosing details of the Singapore hub. BHP also faces legal action from the Australian Taxation Office over a disputed tax bill of $A87m. The case will be heard in the Federal Court in Melbourne on 31 May.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SUPREME COURT OF QUEENSLAND, QUEENSLAND. TREASURY, AUSTRALIAN TAXATION OFFICE, FEDERAL COURT OF AUSTRALIA, MITSUBISHI CORPORATION, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, NEW SOUTH WALES. THE TREASURY, AUSTRALIA. ADMINISTRATIVE APPEALS TRIBUNAL

McDonald’s, KFC & Subway most visited Aussie restaurants

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-May-18

A Roy Morgan Single Source survey has found that 84.5% of Australians aged 14+ bought or ate take away food in the year to March 2018. The survey shows that 52.7% of Australians eat food from McDonald’s in an average six months, ahead of KFC (40.8%) and Subway (30.8%). Analysing the leading quick service restaurants by generation shows that McDonald’s and KFC are the two top quick service restaurants for all five generations. Generation Z is the most likely to eat at McDonald’s (67.3%) and KFC (56%), while Pre-Boomers are the least likely of the generations to eat at either. Only 26.5% of Pre-Boomers eat at McDonald’s and only 15.1% eat at KFC.

CORPORATES
ROY MORGAN LIMITED, McDONALD’S AUSTRALIA LIMITED, KFC, SUBWAY SANDWICHES PTY LTD, HUNGRY JACK’S PTY LTD, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, RED ROOSTER FOODS, GRILL’D PTY LTD, NANDO’S AUSTRALIA PTY LTD, PIZZA HUT AUSTRALIA, THE NOODLE BOX PTY LTD

ANZ-Roy Morgan Consumer Confidence ends its six week streak, down 3.2% to 117.7

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-May-18

ANZ-Roy Morgan Australian Consumer Confidence fell 3.2% to 117.7 in the week ended 27 May, after six straight weekly gains. Households’ views towards current financial conditions fell 2.7%, entirely reversing gains over the previous two weeks. Views towards future financial conditions fell 4.1% to 122.5, the lowest since November. Sentiment around current economic conditions eased 2.4% following no change previously. Views towards future economic conditions fell 2.5%, adding to the 1.9% loss in the previous week. The "time to buy a household item" sub-index dropped 3.9%, more than reversing the previous week’s rise of 2.6%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

AGL’s carbon loading

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Original article by Sharri Markson
The Daily Telegraph – Page: 4 : 29-May-18

Data from the Clean Energy Regulator shows that AGL Energy generated 43.4 million tonnes of carbon emissions in 2016-17, which equates to about eight per cent of Australia’s emissions. Rival utility EnergyAustralia is the nation’s second-biggest carbon polluter, with emissions totalling 21.7 million tonnes in 2016-17. AGL is believed to be spending around $A23m a year on advertising to promote its environmental credentials, yet its emissions have increased by five million tonnes under current CEO Andy Vesey.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. CLEAN ENERGY REGULATOR, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY