Union warns of action as deal rejected again

Original article by Sian Powell
The Australian – Page: 31 : 20-Feb-19

Some 67 per cent of Victoria University’s employees have voted against an offer of a two per cent pay rise over five years. It follows a previous ballot in 2018 when 77 per cent of staff voted against the university’s pay deal. The National Tertiary Education Union has urged the university to put forward a new offer, flagging the possibility of industrial action if it fails to do so. The union argues that Victoria University’s block teaching program has increased staff workloads by up to 18 per cent.

CORPORATES
VICTORIA UNIVERSITY, NATIONAL TERTIARY EDUCATION INDUSTRY UNION

Labor waves new stick at big banks

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 20-Feb-19

Labor has unveiled draft laws to implement five recommendations of the Hayne royal commission which it believes can be implemented before the election. However, the federal goverment contends that Labor’s proposals are unworkable and have been rushed. The government is expected to release its own draft laws in coming days. Meanwhile, Labor proposes to require the CEOs of major banks to make twice-yearly reports to Parliament on their progress on implementing Hayne’s recommendations. The government in turn will give the Australian Financial Complaints Authority retrospective powers to hear financial complaints dating back to the start of 2008.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS

Criminal charges await bankers

Original article by Michael Roddan
The Australian – Page: 3 : 20-Feb-19

The Australian Securities & Investments Commission released its response to the final report of the Hayne royal commission on 19 February. ASIC has disclosed that it is prioritising 11 instances of misconduct by eight companies or individuals in the banking sector that were referred to it by the inquiry, with a view to recommending criminal charges. ASIC is assessing an additional 16 cases to determine if there are grounds for prosecution, while it is also investigating 12 case studies that were presented to the royal commission but were not specifically referred to the corporate watchdog.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, FEDERAL COURT OF AUSTRALIA, NATIONAL AUSTRALIA BANK ASIA, DOVER FINANCIAL ADVISERS PTY LTD, CLEARVIEW WEALTH LIMITED – ASX CVW

ANZ-Roy Morgan Australian Consumer Confidence recovers to 115.2

Original article by Roy Morgan
Market Research Update – Page: Online : 20-Feb-19

ANZ-Roy Morgan Australian Consumer Confidence rose 1.0% to 115.2 in the week ended 17 February. Households’ views towards current financial conditions rose 0.8%, while views toward future financial conditions rose 3.6%. Meanwhile, consumers’ views toward current and future economic conditions fell by 0.2% and 0.8% respectively. The ‘time to buy a household item’ index rose by 1.1% after four consecutive weekly declines. The four-week moving average of inflation expectations declined by 0.1ppt to 4.0%, the lowest since 2016.

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

Labor split erupts over Adani coal mine

Original article by Mark Ludlow
The Australian Financial Review – Page: 1 & 2 : 19-Feb-19

CFMMEU Mining and Energy Queensland president Steve Smyth has accused the state government of a "go-slow" on approving Adani’s $2 billion Carmichael coal mine. It has been suggested that the government is trying to delay approval of the mine until after the federal election, so as to minimise any potential political damage to Opposition Leader Bill Shorten. Smyth says people in regional Queensland want to see the mine proceed, while he contends that thousands of jobs in the Galilee Basin are at risk if the state government does not approve the mine.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, AUSTRALIAN GREENS, QUEENSLAND. DEPT OF NATURAL RESOURCES AND MINES, WARATAH COAL PTY LTD, GVK INDUSTRIES LIMITED, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION

South32-run Port Kembla locks out union over rolling stoppages

Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 19-Feb-19

Members of the Construction, Forestry, Maritime, Mining & Energy Union were denied access to the Port Kembla Coal Terminal on 18 February, amid growing tensions over negotiations for a new enterprise bargaining agreement. The lockout will remain in force until 27 February, and coal will be loaded onto ships using contractors. South32, which partly owns the coal terminal, is currently engaged in conciliation talks regarding a separate EBA for workers at its New South Wales mines.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, PORT KEMBLA COAL TERMINAL LIMITED, SOUTH32 LIMITED – ASX S32, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY

Last weekend’s Roy Morgan face-to-face poll shows: ALP 52.5%, L-NP 47.5%. L-NP jump 3% on 2PP after ALP vote to loosen border protection laws

Original article by Roy Morgan
Market Research Update – Page: Online : 19-Feb-19

An Australia-wide Roy Morgan face-to-face poll conducted over the weekend of 16-17 February shows that support for the ALP on a two-party preferred basis is 52.5%, compared with 47.5% for the L-NP. There has been a 3% swing to the L-NP on a two-party preferred basis following the ALP’s decision to back the medivac legislation. The L-NP’s primary vote has risen by 2.5% to 37%, while the ALP’s primary vote has fallen 1.5% to 34.5%. Roy Morgan’s executive chairman Gary Morgan says the results of the Roy Morgan poll show that the issue of border protection is a major strength for the L-NP; however, a lot can happen between now and the Federal Election in May.

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

Police wanted to prosecute at least one over AWU leak

Original article by Andrew Tillett
The Australian Financial Review – Page: 8 : 19-Feb-19

The Australian Federal Police have disclosed that there seemed to be enough evidence to justify charging at least one person for leaking details of raids on the offices of the Australian Workers’ Union in October 2017. However, the Commonwealth Director of Public Prosecutions ruled against any prosecutions. The AFP’s Deputy Commissioner Leanne Close has also revealed that former industrial relations minister Michaelia Cash and former justice minister Michael Keenan declined to provide witness statements on two separate occasions, and had instead submitted written letters to the AFP.

CORPORATES
AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Morrison’s Tampa moment

Original article by Rosie Lewis, Joe Kelly, Primrose Riordan, Paige Taylor
The Australian – Page: 1 & 5 : 18-Feb-19

Prime Minister Scott Morrison has highlighted the federal government’s border protection policies in a newspaper article which is targeted at migrant communities. In addition, Morrison has recorded a two-minute video clip aimed at people-smugglers, in which he stresses that the passage of the medivac legislation will not affect Australia’s tough stance on asylum-seekers. The video will be broadcast in 15 languages on YouTube. Meanwhile, Labor has criticised the government’s decision to re-open the detention centre on Christmas Island.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT

PM heads off revolt by Nationals

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-Feb-19

The National Party is very unhappy over the federal government’s shelving of legislation that would allow the forced divestment of energy companies’ assets. It is understood that some Nationals MPs were prepared to cross the floor of the House of Representatives and vote against the government on small business legislation. The government has moved to placate the Nationals by agreeing to support amendments to the legislation that will make it easier for smaller businesses to sue larger companies. The government has also indicated that it will support a Labor/Greens motion calling for a royal commission into the treatment of the disabled.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AGL ENERGY LIMITED – ASX AGL