Rethink press inquiry and act, PM urged

Original article by Greg Brown
The Australian – Page: 2 : 13-Jun-19

Communications Minister Paul Fletcher says the federal government has made no decision on a parliamentary inquiry into press freedom in the wake of the Australian Federal Police’s recent media raids. However, some Coalition MPS have expressed concern that the issue may become politicised if there is a parliamentary inquiry. Liberal MP Craig Kelly argues that a special inquiry into the actions of the AFP is not necessary as parliament has oversight of the law enforcement agency.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN FEDERAL POLICE, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Coalition to strike amid Setka strife

Original article by Ewin Hannan
The Australian – Page: 1 & 6 : 13-Jun-19

Labor has been urged to support the federal government’s Ensuring ­Integrity Bill in the wake of the controversy surrounding Construction, Forestry, Maritime, Mining & ­Energy Union official John Setka. Labor opposed the bill – which amongst other things would allow courts to disqualify union officials for repeated breaches of civil law – in the previous parliament. Setka has refused to stand down as the CFMMEU’s Victorian secretary in the wake of comments he allegedly made about domestic violence campaigner Rosie Batty, while Labor leader Anthony Albanese is seeking to have him expelled from the party.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ACTU, MARITIME UNION OF AUSTRALIA, ELECTRICAL TRADES UNION, UNITED VOICE

RBA warns rates may go lower to drive jobs

Original article by Michael Roddan
The Australian – Page: 2 : 13-Jun-19

The Reserve Bank of Australia recently downwardly revised its estimate of full employment from 5.25 per cent to 4.5 per cent. Assistant governor Luci Ellis has indicated that the non-accelerating inflation rate of unemployment may in fact be as low as 3.5 per cent, adding that the central bank may have to keep reducing the cash rate until the unemployment rate reaches this level. Australia’s official unemployment rate is currently about five per cent.

CORPORATES
RESERVE BANK OF AUSTRALIA

US-Australia to secure rare earths

Original article by Angus Grigg, Phillip Coorey
The Australian Financial Review – Page: 1 & 2 : 13-Jun-19

The US, Canada and Australia will co-operate in developing a strategy to reduce reliance on China for key minerals such as rare earths and lithium. Rare earths in particular are crucial in a range of technology, including defence systems, wind turbines and electric vehicle batteries. Meanwhile, Austrade has identified a list of Australia’s ‘critical’ mineral resources that could potentially be developed using offshore capital. The Northern Australia Infrastructure Facility is also considering an investment in Arafura Resources’ proposed rare earths mine in the Northern Territory.

CORPORATES
AUSTRADE, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, ARAFURA RESOURCES LIMITED – ASX ARU, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, GEOSCIENCE AUSTRALIA, AUSTRALIAN NUCLEAR SCIENCE AND TECHNOLOGY ORGANISATION, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. NATIONAL SECURITY COMMITTEE, UNITED STATES. DEPT OF COMMERCE, CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

ANZ-Roy Morgan Consumer Confidence falls again to 114.6

Original article by Roy Morgan
Market Research Update – Page: Online : 13-Jun-19

ANZ-Roy Morgan Australian Consumer Confidence fell 2.0% to 114.6 in the week ended 9 June, although it remains above the long-term average. Households’ views towards current financial conditions fell 2.7%, while views towards future financial conditions were down 2.2%. This weekly decline has resulted in the subindices closing below their long-term averages. Meanwhile, consumers’ views toward current economic conditions fell 7.8%, after rising for three consecutive weeks; future economic conditions were down 2.8%, resulting in the subindex falling below the long-term average. The ‘time to buy a household item’ index rose 4.9%.

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

Gas tax hike: Treasurer sparks energy backlash

Original article by Jamie Walker, Sarah Elks
The Australian Financial Review – Page: 1 & 6 : 12-Jun-19

Queensland Treasurer Jackie Trad has defended the state government’s decision to increase the royalty on gas production from 10 per cent to 12.5 per cent, arguing that the state’s LNG royalty has been frozen for 10 years. She describes the increase as a "modest measure" given than some countries have LNG royalties of up to 30 per cent. The Budget measure has been criticised by Queensland Resources Council CEO Ian Macfarlane and former federal resources minister Martin Ferguson, who warn of the impact of the move on gas supply and prices.

CORPORATES
QUEENSLAND. TREASURY, QUEENSLAND RESOURCES COUNCIL LIMITED, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY, ACTU

Cormann says power price drops on the way

Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 12-Jun-19

Finance Minister Mathias Cormann has reiterated the federal government’s commitment to reducing electricity prices by 25-30 per cent by the end of 2021. He notes that the Coalition has a range of policy initiatives aimed at achieving this goal, including its so-called "big stick" legislation and its proposal to underwrite baseload generation projects. Action to reduce power prices is among the key demands of Senate crossbenchers in return for backing the Coalition’s income tax cuts package.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIAN CONSERVATIVES, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY

Senator in no hurry for deal on tax cuts

Original article by Rosie Lewis
The Australian – Page: 2 : 12-Jun-19

The federal government will make its income tax cuts package a top priority when parliament resumes on 2 July. However, Centre Alliance senator Rex Patrick says his party will take its time over negotiations with the government to ensure that it achieves the best outcome. Patrick has signalled that in addition to its previously stated demands in return for supporting the tax package, Centre Alliance will seek additional assistance for pensioners who will not benefit from the tax cuts.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIAN CONSERVATIVES, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Power, gas costs key to tax cut win

Original article by Rosie Lewis, Michael Roddan
The Australian – Page: 1 & 4 : 11-Jun-19

The Australian Conservatives’ Cory Bernardi is currently the only Senate crossbencher who supports the Coalition’s full income tax cuts package. Other crossbenchers have outlined their key demands in return for supporting the tax cuts. One Nation leader Pauline Hanson will push for the construction of at least one high-efficiency, low-emissions coal-fired power station, a royal commission into the family law system and the implementation of the Bradfield water-diversion scheme. Centre Alliance has also identified the high cost of gas and electricity as a key issue that needs to be addressed in return for its support.

CORPORATES
AUSTRALIAN CONSERVATIVES, ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Union fines hit $4m as boss put workers ‘in harm’s way’

Original article by David Marin-Guzman
The Australian Financial Review – Page: 10 : 7-Jun-19

The Construction, Forestry, Maritime, Mining & Energy Union has been fined $137,000 over the conduct of Richard Hassett, the head of its Tasmanian branch. The Federal Court ruled that he had unlawfully entered a Devonport building site and repeatedly attempted to disrupt the operation of a crane. Hassett was fined $22,000, while the CFMMEU has now been fined $4.1m in total for breaching workplace laws so far in 2018-19.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION