Original article by Roy Morgan
Market Research Update – Page: Online : 15-Jan-20
ANZ-Roy Morgan Australian Consumer Confidence rose 1% to 107.3 in the week ended 12 January, recovering a bit more than half the loss seen in the prior survey. Current economic conditions gained 6.1% after a fall of 12.9% in the previous reading, while future economic conditions gained 8.6%. Current finances declined by 5.5%, dropping to its lowest level since June; future finances gained 0.6%, for a third consecutive increase. The four-week moving average of inflation expectations was down by 0.1ppt to 3.9%.
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ
Original article by Nick Bonyhady
The Age – Page: Online : 14-Jan-20
The Greens have called for a climate emergency national medical stockpile to address the health impacts of the current bushfires. The policy would see people in smoke-impacted areas have access to stockpiles of smoke-filtering masks, with Greens leader Richard Di Natale saying that the federal government’s current supply of masks was not enough to protect Australians. The federal government has stated it will make more masks available if the need arises, while Bunnings owner Wesfarmers reported recently that demand for face masks "had gone through the roof".
Original article by Angus Thompson, Nick Bonyhady
The Age – Page: Online : 14-Jan-20
Scientists believe that the bushfires in northern NSW have destroyed about 30 per cent of the region’s koala habitats. Koalas are already listed as a ‘vulnerable’ species in some parts of Australia, and Federal Environment Minister Sussan Ley warns that the species may need to be upgraded to ‘endangered’ in some bushfire-affected areas. Ley has stressed that every effort will be made to ensure that the species survives. Half of the federal government’s $50m bushfire relief package for wildlife will be given to wildlife carers, hospitals and zoos.
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY
Original article by John Kehoe, Andrew Tillett
The Australian Financial Review – Page: 3 : 14-Jan-20
Prime Minister Scott Morrison has indicated a slight shift in the federal government’s approach to climate change in the wake of the bushfires crisis. This follows community angst about the apparent link between climate change and the hotter and drier summer weather that contributed to the crisis. The government sees investments in low-emissions technology as the best way to cut carbon emissions and meet its 2030 carbon emissions targets, and it may not need to use Kyoto carryover credits to reach these targets.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET
Original article by David Rogers
The Australian – Page: 13 & 16 : 14-Jan-20
A report from Moody’s Investors Service has concluded that the bushfire crisis will reduce GDP growth by less than 0.1 per cent. The ratings agency adds that the federal and state governments have sufficient fiscal buffers to cope with the current crisis, but it warns that an increase in climate change-related natural disasters in the future could negatively affect their credit ratings. Meanwhile, Anthony Walker of S&P says the federal government’s return to a Budget surplus may be delayed by the bushfire emergency, although he adds that this would be unlikely to have any effect on Australia’s credit rating.
MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS
Original article by Michael Pelly
The Australian Financial Review – Page: 8 : 10-Jan-20
The High Court has granted Mondelez International special leave to appeal against a 2019 Full Federal Court ruling in regard to the payment of sick leave to workers at its Cadbury plant in Tasmania. Amanda Banfield, Mondelez’s president for Australia and New Zealand, had stated that the Federal Court’s ruling meant that employees working the same hours on different rosters would be eligible for different leave amounts. Mondelez’s appeal has the backing of the federal government.
MONDELEZ AUSTRALIA (FOODS) LIMITED, HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, CADBURY AUSTRALIA LIMITED
Original article by Patrick Commins
The Australian – Page: 1 & 2 : 10-Jan-20
Official data shows that Australia recorded a trade surplus of $5.8bn for November, after the surplus for the previous month was downwardly revised to $4.1bn. The data also shows that resource exports increased by 0.9 per cent in November and by three per cent year-on-year; the monthly figure was bolstered by a 2.1 per cent rise in iron ore exports and one per cent growth in coal shipments. The total value of goods and services exports increased by two per cent to $40.9bn, while the value of imports was down three per cent at $35.1bn.
AUSTRALIAN BUREAU OF STATISTICS, JP MORGAN AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY
Original article by Euan Black
The New Daily – Page: Online : 10-Jan-20
Shane Oliver of AMP Capital warns that the bushfires could reduce GDP growth by 0.4 per cent in the March quarter. He says this will be primarily due to the impact of the fires on agriculture, tourism, consumer confidence and consumer spending. Martin North of Digital Finance Analytics adds that the bushfires could reduce national economic output by up to $36bn over coming years. He has also warned of the potential for a macroeconomic recession in the near-term. The bushfires have already had an impact on consumer sentiment, with the ANZ-Roy Morgan Australian Consumer Confidence Index falling by 1.7 per cent.
AMP CAPITAL INVESTORS LIMITED, DIGITAL FINANCE ANALYTICS, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ROY MORGAN LIMITED, WORLD BANK
Original article by Julie-anne Sprague
The Australian Financial Review – Page: 4 : 10-Jan-20
The Minderoo Foundation of Andrew and Nicola Forrest will donate $70m to bushfire relief programs and research into improving Australia’s resilience to bushfires. The Forrests will contribute $10m to a bushfire recovery fund, while another $10m will be used to send Western Australian specialists to assist with the recovery effort. The balance will be invested in a project that will aim to mitigate the impact of future bushfires. Andrew Forrest has also proposed the creation of a $500m global fund for this purpose. He says a number of factors have contributed to the nation’s devastating bushfire season, including climate change and arson.
MINDEROO FOUNDATION, FORTESCUE METALS GROUP LIMITED – ASX FMG
Original article by Lachlan Moffet Gray, Rachel Baxendale
The Australian – Page: 1 & 4 : 10-Jan-20
Authorities in New South Wales, Victoria, South Australia and Western Australia have issued bushfire emergency warnings for 10 January, amid expectations of extreme weather conditions. The prospect of soaring temperatures and strong winds has prompted the Victorian government to extend its ‘state of emergency’ for an extra two days, with Premier Daniel Andrews stressing that the move is necessary in order to save lives. Residents of some towns in the King Valley were given orders to evacuate late on 9 January. Meanwhile, residents in some areas of South Australia’s Kangaroo Island have been advised to evacuate if it is safe to do so.
VICTORIA. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES RURAL FIRE SERVICE, SOUTH AUSTRALIA. COUNTRY FIRE SERVICE