Author: roymorgansocial

Cloud hovers over Labor’s Aly

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Original article by Joe Kelly
The Australian – Page: 1 & 7 : 11-May-18

The dual citizenship saga continues to plague Federal Parliament, with the latest High Court ruling having raised uncertainty about the eligibility of Labor MP Anne Aly. Parliament’s citizenship registry shows that Aly applied to have her Egyptian citizenship cancelled in early May 2016, well before nominations for the federal election closed in June. However, Aly is yet to submit any documentation to prove that her Egyptian citizenship has been cancelled. Professor George Williams from the University of New South Wales has called for a referendum on the issue of dual citizenship.

CORPORATES
AUSTRALIAN LABOR PARTY, HIGH COURT OF AUSTRALIA, UNIVERSITY OF NEW SOUTH WALES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Unions ‘new capitalists’: Kennett

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Original article by Ewin Hannan
The Australian – Page: 2 : 11-May-18

About 100,000 unionists attended a rally in Melbourne’s CBD on 9 May, as part of the ACTU’s campaign for industrial relations reform. However, former Victorian premier Jeff Kennett says there is little support among the general public for workplace reform, adding that the ACTU’s campaign is undermined by the fact that many union members earn more than $A100,000 a year. CFMEU official David Noonan argues that large amounts of overtime in the construction industry boosts incomes in the sector, while building workers lack secure employment.

CORPORATES
ACTU, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), MARITIME UNION OF AUSTRALIA

Rio, Alcoa, Apple in green aluminium bid

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Original article by Matt Chambers
The Australian – Page: 21 : 11-May-18

Rio Tinto aims to commercialise a new aluminium smelting process that does not generate carbon dioxide emissions within six years. The resources group will develop the Elysis process in partnership with Alcoa and technology giant Apple. Aluminium generates carbon dioxide emissions from both the smelting process itself and the electricity that is consumer in its production. Rio Tinto and Alcoa claim that the Elysis process is the industry’s most significant innovation in more than a century.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ALCOA INCORPORATED, APPLE INCORPORATED

Telstra kicks another goal with FFA rights

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Original article by Dana McCauley
The Australian – Page: 21 : 11-May-18

Telstra will have exclusive mobile streaming rights to local soccer matches under a five-year deal with Football Federation Australia. Telstra’s mobile customers will be able to watch FFA matches without incurring any data usage fees via the My Football Live app. The app will feature targeted advertising, but Telstra’s head of marketing Joe Pollard says sponsorships will be the primary source of revenue from the app.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, FOOTBALL FEDERATION AUSTRALIA LIMITED, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, SEVEN WEST MEDIA LIMITED – ASX SWM, TWITTER INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

Wilkins sorry as first strike pounds AMP

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Original article by Richard Gluyas
The Australian – Page: 19 & 23 : 11-May-18

AMP incurred a backlash from investors at its annual meeting on 10 May, with 61.5 per cent of votes cast rejecting its remuneration report. The financial services group could face a board spill in 2019 under the "two-strikes" regime. AMP director Andrew Harmos has retained his seat on the board, although 37.5 per cent of votes cast were opposed to his re-election. Meanwhile, acting executive chairman Mike Wilkins has apologised to shareholders for the "fees-for-no-service" scandal, and acknowledged that rebuilding trust and confidence in the AMP brand will take time.

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CLAYTON UTZ, AMP CAPITAL INVESTORS LIMITED, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES

Shorten ups ante in tax cuts battle

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Original article by Simon Benson, Rachel Baxendale
The Australian – Page: 1 & 6 : 11-May-18

Opposition Leader Bill Shorten has used his Budget reply speech to outline Labor’s proposed income tax reforms, which includes an annual tax cut of up to $A928 for people on low and middle incomes. Labor will support the first phase of the Federal Government’s tax cuts package, but tax brackets will remain unchanged beyond this. Labor has also committed to reinstating the two per cent deficit levy, which would lift the tax rate for people on the highest incomes to 49 per cent. Shorten also said Labor will reverse company tax cuts that have already been legislated if it wins the next election.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS

Commonwealth Bank admits it broke law over fees

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Original article by Sarah Danckert, Clancy Yeates
The Sydney Morning Herald – Page: 3 : 11-May-18

The Commonwealth Bank of Australia has issued a statement acknowledging that its financial planners had breached the Corporations Act by charging fees for services that were not provided. However, the bank has rejected several of the open findings of the senior counsel assisting the banking royal commission with regard to its financial planning division. Meanwhile, Westpac has rejected all of the open findings of the royal commission regarding its financial planning business.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COUNT FINANCIAL LIMITED, COMMONWEALTH FINANCIAL PLANNING LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RI ADVICE GROUP PTY LTD, M3 FINANCIAL, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, DOVER FINANCIAL ADVISERS PTY LTD

It’s official: Newspaper masthead readership is up 3.2% to over 16 million!

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-May-18

Roy Morgan has released the latest readership report for Australian newspapers for the 12 months to March 2018. Some 16.1 million Australians aged 14+ (almost 80%) now read or access newspapers in an average 7-day period either in print or online via website or app, an increase of 3.2 per cent from a year ago. Cross-platform audiences have increased for four out of Australia’s top five leading mastheads. "The Sydney Morning Herald" is still the most widely-read masthead, with a cross-platform audience of 4,269,000, up 0.6 per cent from a year ago. Meanwhile, "Good Weekend" remains Australia’s most widely-read newspaper inserted magazine, with print readership of 1,167,000 (down 10.2 per cent).

CORPORATES
ROY MORGAN LIMITED

Over 15 million Australians read magazines across print and online

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Original article by Roy Morgan
Market Research Update – Page: Online : 11-May-18

Roy Morgan has released the Australian Magazine Readership report for the 12 months to March 2018. A total of 15,007,000 Australians aged 14+ (74.3 per cent) read magazines either in print or online via the web or an app, down 0.3 per cent from a year ago. Readership of print magazines was just under 12.6 million (62.3 per cent), virtually unchanged from a year ago. The free "Coles Magazine" remains the most widely-read print magazine, with an average readership of 4,367,000 per issue (up 15.4 per cent), while "Better Homes & Gardens", "Women’s Weekly" and "Woman’s Day" remain the top three most widely-read paid magazines. Meanwhile, seven of Australia’s 10 leading magazines ranked by cross-platform audiences retain a significantly larger readership via their print editions than their digital platforms. As more magazine publishers expand their online offerings this is slowly changing, although magazines remain significantly more reliant on print editions than their online engagement.

CORPORATES
ROY MORGAN LIMITED

Cash payments limit has easy workaround: agents

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Original article by Duncan Hughes, Su-Lin Tan
The Australian Financial Review – Page: 11 : 10-May-18

Real estate agents and property brokers have questioned the effectiveness of the Federal Government’s proposed crackdown on the cash economy. They argue that many agents no longer accept cash payments, while people will be able to bypass the proposed limit of $A10,000 for cash payments by making a series of smaller payments in cash. Farmers also warn that the crackdown may not be effective, noting that cash payments are rife in the horticulture industry.

CORPORATES
BLACK DIAMONDZ PROPERTY CONCIERGE, N1 HOLDINGS LIMITED – ASX N1H, AUSTRALIAN TAXATION OFFICE