O75 Public Administration

Be ready for sanctions on China: Abbott

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Original article by Bo Seo, Angus Grigg
The Australian Financial Review – Page: 6 : 29-Nov-19

Former prime minister Tony Abbott has used a Lowy Institute speech to warn that the crisis in Hong Kong may require targeted sanctions to be imposed on China. He also argued that Australia’s strategy to deal with the growing power of China should include an increase in military spending, which is currently set at two per cent of GDP. Abbott also said Australia needs to establish closer relations with India. He added that it might be time for Australia to undertake freedom of navigation exercises in the South China Sea.

CORPORATES
LOWY INSTITUTE FOR INTERNATIONAL POLICY

Hanson blindside kills anti-thug law

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 29-Nov-19

The federal government will put its Ensuring Integrity Bill before the Senate again in 2020 after a vote was tied at 34 votes apiece on 28 November. The bill was defeated after One Nation joined with Labor and the Greens to vote against it, even though the government had agreed to the minor party’s proposed amendments. Independent senator Jacqui Lambie also voted against the bill. Labor leader Anthony Albanese has described the bill’s defea­t as a "win for workers", but Australian Industry Group CEO Innes Willox says it is a "win for union thug­gery".

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, THE AUSTRALIAN INDUSTRY GROUP, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, ACTU, WESTPAC BANKING CORPORATION – ASX WBC, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED)

Porter rejects Lambie’s call to alter union bill

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Original article by Ewin Hannan
The Australian – Page: 2 : 28-Nov-19

The federal government remains hopeful that One Nation will support its Ensuring Integrity Bill, with the minor party’s two votes being crucial to its passage through the Senate. Meanwhile, independent senator Jacqui Lambie has proposed a number of last-minute amendments to the bill in return for her support; they include a provision that unprotected industrial action cannot be used as grounds for disqualifying a union official. Attorney-General Christian Porter has ruled out supporting the amendments, arguing that they are unworkable.

CORPORATES
ONE NATION PARTY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, CENTRE ALLIANCE, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Infrastructure spending set to take a dive

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Original article by Adam Creighton
The Australian – Page: 6 : 28-Nov-19

The Parliamentary Budget Office has forecast that Australia’s net infrastructure investment will peak at $38bn in 2019-20, before falling over the next three years. This is primarily due to expectations that the net debt of the state governments will blow out to around $156bn by 2022. This would constitute the states’ highest share of public debt in two decades.

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AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

PM wins an AAA-rating for his responsible approach to stimulus

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Original article by Patrick Commins
The Australian – Page: 6 : 28-Nov-19

S&P Global Ratings has praised the federal government’s commitment to a balanced Budget rather than pursuing stimulus measures. The ratings agency has warned that any fiscal stimulus that led to a change in the trajectory of the Budget could jeopardise Australia’s coveted triple-A credit rating. Anthony Walker, S&P’s director of sovereign ratings, has also warned that fiscal stimulus is likely to affect the nation’s ability to respond to future unforeseen economic shocks.

CORPORATES
S&P GLOBAL RATINGS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA

ANZ-Roy Morgan Consumer Confidence falls to 106.8

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Nov-19

ANZ-Roy Morgan Australian Consumer Confidence fell 2.8% to 106.8 in the week ended 24 November, to its lowest level in more than four years. Weakness is across the board. Households’ views towards current financial conditions fell 0.1%, while views towards future financial conditions plunged 4.4%; current financial conditions are still above average, but future conditions are now below average. Consumers’ views toward current economic conditions fell 1.3% to a four-year low, and views towards future economic conditions declined 4.6% to an all-time low. The ‘time to buy a household item’ index was also at a multi-year low, falling 3.3%, but the four-week moving average of inflation expectations was stable at 3.9%.

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

Labor may revive negative gearing

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Original article by Phillip Coorey
The Australian Financial Review – Page: 8 : 27-Nov-19

Shadow housing minister Jason Clare has warned that the housing affordability crisis has not eased since Labor lost the 18 May election, adding that it may get worse. He has raised the prospect that Labor could go into the next federal election with a modified version of its proposed changes to the capital gains and negative gearing regimes that were rejected by voters in May.

CORPORATES
AUSTRALIAN LABOR PARTY, MASTER BUILDERS AUSTRALIA INCORPORATED

Two cuts left in RBA arsenal

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Original article by Patrick Commins
The Australian – Page: 1 & 6 : 27-Nov-19

Reserve Bank of Australia governor Philip Lowe has used a speech in Sydney to state that conventional monetary policy remains effective and the central bank is unlikely to consider quantitative easing unless the cash rate falls to 0.25 per cent. He indicated that the RBA would buy government bonds if it opted for QE. Lowe also described negative interest rates as the only monetary policy tool that is "truly unconventional", and emphasised that negatives rates are unlikely in Australia.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Dump directors or we’ll oust the lot, Westpac told

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Original article by Michael Roddan, Andrew White
The Australian – Page: 1 & 4 : 27-Nov-19

Westpac chairman Lindsay Maxsted has indicated that he will have no role in the global search for a successor to CEO Brian Hartzer. CFO Peter King will become acting CEO following Hartzer’s resignation over the Austrac scandal, while Maxsted himself intends to bring forward his retirement to the first half of 2020. Meanwhile, Westpac may face a board spill at its upcoming annual meeting, with institutional investors demanding that more directors and executives be held accountable for the scandal. Hartzer will receive a $2.7m payout, although he will forgo short-term and long-term bonuses worth up to $22m.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIANSUPER PTY LTD, UNISUPER LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, STANDARD AND POOR’S FINANCIAL SERVICES LLC

Farmer revolt over China Mengniu’s Lion Dairy bid

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Original article by Sue Mitchell, John Kehoe
The Australian Financial Review – Page: 1 & 16 : 26-Nov-19

Some federal politicians have expressed concern about China Mengniu Dairy Company’s proposed acquisition of milk processor Lion Dairy & Drinks. Labor senator Kim Carr says the $600m deal should be subject to a number of conditions to ensure that jobs and processing facilities in regional areas are protected. Nationals MP Barnaby Joyce is concerned about China’s "creeping acquisition" of dairy-related assets in Australia, while independent MP Andrew Wilkie says ownership of Australia’s leading brands is becoming increasingly concentrated. Farmers say the deal should be conditional on a floor price for the farm gate price of milk.

CORPORATES
LION-DAIRY AND DRINKS PTY LTD, CHINA MENGNIU DAIRY COMPANY LIMITED, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, KIRIN HOLDINGS COMPANY LIMITED, DAIRY CONNECT LIMITED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, SAPUTO INCORPORATED