Author: roymorgansocial

Bank confessions reach new lows

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Original article by James Frost
The Australian Financial Review – Page: 1 & 4 : 22-May-18

The banking royal commission is currently examining small business lending, with public hearings on the issue commencing on 21 May. Counsel assisting the commission read out a summary of admissions of poor behaviour in this area from various banks, including a confession from the Bank of Queensland that it had been charging corporate loan customers the wrong interest rates and fees. The commission was told that 87 per cent of loans to small businesses are secured by real estate.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, BANK OF QUEENSLAND LIMITED – ASX BOQ, SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN BANKERS’ ASSOCIATION

Abbott blasts Turnbull’s anti-coal chiefs

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Original article by Greg Brown
The Australian – Page: 1 & 6 : 22-May-18

Energy Minister Josh Frydenberg has dismissed calls for the Federal Government to acquire the Liddell power station after AGL Energy formally rejected Alinta Energy’s offer to buy it. Coalition backbenchers Tony Abbott and Barnaby Joyce said the government should compulsorily acquire Liddell, with the former saying it should then be on-sold to Alinta. Abbott has also accused senior government bureaucrats of having an anti-coal bias. He argues that coal remains the lowest-cost option for baseload power.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AGL ENERGY LIMITED – ASX AGL, ALINTA ENERGY (AUSTRALIA) PTY LTD, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. ENERGY SECURITY BOARD, THE CENTRE FOR INDEPENDENT STUDIES LIMITED

Hanson sinks PM’s tax plan

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Original article by Joe Kelly
The Australian – Page: 1 & 6 : 22-May-18

The Federal Government’s company tax cuts package faces likely defeat in the Senate, after One Nation withdrew its support for the policy. One Nation leader Pauline Hanson has questioned whether the policy would result in more jobs, given that the tax cuts would take a number of years to fully implement. Hanson adds that the exclusion of an apprenticeship scheme and funding for a coal-fired power station from the May 2018 Budget also contributed to One Nation’s decision to change its stance on the tax cuts. However, it may reverse its decision if the Government agrees to new concessions.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY

Harbour raises bid for Santos to $14.5bn

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Original article by Matt Chambers
The Australian – Page: 19 : 22-May-18

Shares in Santos closed 1.8 per cent higher on 21 May at $A6.36, in response to an improved takeover bid from Harbour Energy. The US group increased its bid from the initial offer of $US4.98 per share to $US5.21, which equates to $A6.95 based on the current exchange rate. Harbour Energy has advised that its new offer is "best and final", and it is conditional on Santos agreeing to hedge its oil production. Santos has told shareholders to take no action until its board considers the revised offer.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, ARGO INVESTMENTS LIMITED – ASX ARG, KATANA ASSET MANAGEMENT LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, EIG GLOBAL ENERGY PARTNERS, ROYAL DUTCH SHELL PLC

More girls save money but boys receive more

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-May-18

The Roy Morgan Young Australian Survey has found that nearly 77% of kids aged 6-13 have money saved up. Some 79% of girls have savings, compared to 75% of boys. The survey, which was carried in the six months to December 2017, also shows that on average, boys have a total of $279.90 saved up, compared to girls who have an average of $268.68 saved. This is an extra $11.22 boys have saved on average compared to girls. Yet more girls are saving than boys. Meanwhile, girls on average receive 50 cents more a week than boys, whether for pocket money or chores, or extra money for school expenses. Yet boys on average receive more money as gifts, from birthdays to Christmas and from relatives.

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ROY MORGAN LIMITED

Millennials dominate mortgage broker market

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-May-18

A Roy Morgan Single Source survey shows that in the 12 months to March 2018, 48.6% of the existing home borrowers who used a mortgage broker over the last five years to obtain their current loan were Millennials. This was well above the share of any other generation. Together with Generation X (38.8%), they account for 87.4% of current home borrowers using mortgage brokers where their loan had been held for five years or less. Baby Boomers account for only 9.0% of this market, followed by Generation Z (3.1%) and Pre-Boomers (0.5%).

CORPORATES
ROY MORGAN LIMITED

Inflation Expectations up in April led by Melbourne, Adelaide & Perth

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-May-18

Australians aged +14 expect inflation of 4.5% per year over the next two years, according to the Roy Morgan Inflation Expectations Index for April 2018. This is up 0.2% from a month ago, and up 0.1% on April 2017. Despite the increase in April, Inflation Expectations are still well below the eight-year average of 5.0% Analysis of Inflation Expectations by political affiliation shows that supporters of both major parties drove the index higher in April. Inflation Expectations for ALP supporters increased 0.3% to 4.5% and are now in line with the national average, while Inflation Expectations for L-NP supporters increased 0.4% to 4.1%.

CORPORATES
ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Almost 9-in-10 Australians take medication of some kind

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-May-18

A Roy Morgan Single Source survey shows that 17.8 million (88.7%) of Australians aged 14+ take medication in an average 12-month period. Some 9.4 million women (or 92.6%) took medications in the year to December 2017, compared to just under 8.4 million men (84.8%). The most widely taken medications are General medications such as aspirin, taken by 77.3% of Australians. This is followed by Allergies/Antihistamine/Cold & flu medications (42.9%), Vitamins/Supplements (42.5%) and Digestive system medications (26.4%). Women are more likely to take almost all types of medications than men with the exception of Heart & circulation medication (taken by 19.6% of men compared to 18.6% of women).

CORPORATES
ROY MORGAN LIMITED

Donation Deflation: Australian trends in charity

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-May-18

A Roy Morgan Single Source survey has found that 61% of Australians aged 14+ (12.3 million people) reported giving to charity at least once over the year to March 2018. This compares with 70% in September 2011 and the follow-up September 2015 figure of 66%. Where previous falls had been offset with a higher average value of donations over the 12 month period (keeping the total donated amount steady), the March 2018 average annual amount given by donors of $469 is barely higher than the September 2015 figure ($462). The state with the largest proportion of donors was Victoria (62.9%), followed closely by NSW/ACT (61.8%). However, the state with easily the largest average annual donations by donors was NSW ($550), followed by Western Australia ($467) and Victoria ($423).

CORPORATES
ROY MORGAN LIMITED

Crossbenchers link Google levy to company tax support

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Original article by Ben Packham
The Australian – Page: 1 & 4 : 21-May-18

The Federal Government will shortly release a discussion paper on the taxation of multinational technology companies. Centre Alliance senators Rex Patrick and Stirling Griff have signalled that the proposed "Google tax" may influence how they vote on the government’s corporate tax package. Senator Patrick says the party wants to ensure that digital companies are taxed appropriately, which it believes is not the case at present. Treasurer Scott Morrison flagged a tax crackdown on technology companies in his Budget speech.

CORPORATES
CENTRE ALLIANCE, AUSTRALIA. DEPT OF THE TREASURY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET