Author: roymorgansocial

Westpac in hot seat over business lending

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Original article by James Frost, James Eyers, Edmund Tadros
The Australian Financial Review – Page: 1 & 6 : 21-May-18

The banking royal commission’s third round of hearings will focus on loans by banks to small and medium businesses. The hearings are expected to examine issues such as unfair contracts, what defines a small business and the banking code of practice. Australian Banking Association CEO Anna Bligh is among the witnesses who are scheduled to appear before the inquiry, while Westpac is expected to come under attack over its lending practices to small businesses.

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

Optus moves to secure Champions League

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Original article by Max Mason
The Australian Financial Review – Page: 34 : 21-May-18

Optus is keen to acquire the Australian broadcasting rights to more overseas soccer competitions, after recently renewing its English Premier League deal. Optus CEO Allen Lew says Optus aims to be the local broadcaster of elite football, and he has signalled its interest in gaining the local rights to UEFA’s Champions League. Optus and Telstra are increasing their focus on content as a means of attracting and retaining customers, amid growing competition in the mobile telephone market.

CORPORATES
SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, UNION EUROPEENNE DE FOOTBALL ASSOCIATION, FEDERATION INTERNATIONALE DE FOOTBALL ASSOCIATION, WORLD CUP, BEIN SPORTS AUSTRALIA, SPECIAL BROADCASTING SERVICE (SBS), TELSTRA CORPORATION LIMITED – ASX TLS, TPG TELECOM LIMITED – ASX TPM, FOXTEL MANAGEMENT PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED

Seven claims ratings win as millions tune in

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Original article by Dana McCauley
The Australian – Page: 8 : 21-May-18

The Seven Network’s coverage of the royal wedding on 19 May has been widely criticised, despite the fact that it topped the ratings with an average metropolitan audience of nearly two million. This delivered Seven an audience share of 36.4 per cent share for the night, well ahead of Nine’s 26 per cent share. The audience share of Ten’s primary channel sunk to just 3.4 per cent after the network opted to relegate coverage of the wedding to its Ten Daily news website.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, OZTAM PTY LTD, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Waislitz planning a major property investment fund

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 2 : 21-May-18

Billionaire investor Alex Waislitz is understood to be planning to launch either a listed property company or an unlisted property fund. Waislitz has established a partnership with Sydney-based Centennial Property Group, and he could possibly use that relationship to assist his foray into property. Waislitz built his wealth on investing on small and medium-sized listed companies, while he is keen to spend more time on his philanthropic fund, the Waislitz Foundation. It is slated to give away $A50 million over 10 years.

CORPORATES
CENTENNIAL PROPERTY GROUP PTY LTD, WAISLITZ FOUNDATION, THORNEY OPPORTUNITIES LIMITED – ASX TOP, THORNEY TECHNOLOGIES LIMITED – ASX TEK, RCG BRANDS PTY LTD, HUB24 LIMITED – ASX HUB, YOJEE LIMITED – ASX YOJ, AFTERPAY TOUCH GROUP LIMITED – ASX APT

Fortescue unfazed by trade tensions

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Original article by Brad Thompson
The Australian Financial Review – Page: 15 : 21-May-18

Fortescue Metals Group CEO Elizabeth Gaines says trade tensions between the US and China did not attract much attention at a recent Bank of America/Merrill Lynch conference in the US. President Donald Trump is threatening to impose tariffs on steel and other products, but Gaines says China exports very little steel to the US. She adds that sentiment concerning mining and commodities is very positive at present.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, WESFARMERS LIMITED – ASX WES, AGL ENERGY LIMITED – ASX AGL, HELLOWORLD TRAVEL LIMITED – ASX HLO

ASX predicts rise of technology titans

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 16 : 21-May-18

Latitude Financial and Colonial First State Global Asset Management are among the companies that could potentially list on the Australian sharemarket before the end of 2018. The bourse has traditionally been heavily weighted toward banking and resources stocks. However, ASX executive Max Cunningham says more technology companies could be added to the S&P/ASX 20 in the next decade, given that the sector continues to be the most popular among investors.

CORPORATES
LATITUDE FINANCIAL SERVICES LIMITED, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, PROSPA PTY LTD, ASX LIMITED – ASX ASX, CSL LIMITED – ASX CSL, XERO LIMITED – ASX XRO, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BIG UN LIMITED – ASX BIG, GETSWIFT LIMITED – ASX GSW

ABC in rescue plan to lift dire ratings

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Original article by Stephen Brook
The Australian – Page: 24 : 21-May-18

The ABC will revamp its flagship evening news bulletin, with a focus on major stories, exclusive content and interviews. A strategy document also shows that the public broadcaster wants to ensure that "ABC News" is better integrated with "7:30" so the latter does not cover the same stories. The ABC is seeking to arrest a decline in the ratings of its 7pm news, which boasted an audience of just 660,000 across the five main capital cities in mid-May. Its audience is also heavily skewed toward the 50+ age demographic.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Productivity blamed for low wage growth

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Original article by Sid Maher
The Australian – Page: 2 : 21-May-18

Australian Industry Group CEO Innes Willox has rejected claims by ACTU president Sally McManus that low wages growth is the result of a shift in the industrial relations system in favour of employers rather than unions. Research by the AiG suggests that low growth in productivity is a major contributor to flat growth wages. Willox says low wages growth is a global trend, and he notes that there has been strong wages growth in some sectors due to supply and demand considerations.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, ACTU, RESERVE BANK OF AUSTRALIA

ALP seeks to shift the IR balance

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 21-May-18

Shadow workplace relations minister Brendan O’Connor has accused the Federal Government of politicising the Fair Work Commission by failing to appoint any members with a union background. He says Labor will increase union representation on the FWC if it wins the next election, noting that all 14 appointments since the Coalition won office in 2013 have been employer ­appointments. However, Workplace Minister Craig Laundy argues that Labor appointed most of the 39 members of the FWC, including president Iain Ross.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), ACTU, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL

Fox deal seals Murdoch succession

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Original article by Brooks Barnes
The Australian Financial Review – Page: 13 : 18-May-18

Rupert Murdoch’s 21st Century Fox has advised that Lachlan Murdoch will become CEO and chairman of what has been dubbed "New Fox" if a deal to sell most of its entertainment assets to Disney proceeds. Rupert Murdoch will be co-chairman of what would be a much smaller company, with assets such as the Fox broadcast network and cable channel Fox News. Lachlan Murdoch says the new Fox will be a "leader in news, sports and entertainment". Fox’s current CEO James Murdoch is widely tipped to leave the group and start his own business.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, FOX BROADCASTING COMPANY, FOX NEWS, COMCAST CORPORATION, HULU LLC, NEWS CORPORATION – ASX NWS