O75 Public Administration

ANZ-Roy Morgan Consumer Confidence falls to 106.8

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

Spy claim for asylum draws wary response

roymorgansocial Leave a comment

Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 4 : 26-Nov-19

Prime Minister Scott Morrison says allegations about China’s attempts to interfere in federal politics are "deeply disturbing and troubling". However, he has stressed the need to wait until ASIO concludes an investigation into the claims that Chinese intelligence services offered to fund the federal election campaign of Melbourne car dealer Bo Zhao. A separate claim by Wang Liqiang about Chinese interference in federal politics is also under scrutiny. China has refuted his claim to have been a member of its military intelligence service. Wang is seeking asylum in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIA. DEPT OF HOME AFFAIRS

No way to Wiggle out of sacking

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 3 : 25-Nov-19

The Fair Work Commission has thrown out an unfair dismissal claim by a Toyota dealership employee who took personal leave under false pretences. Sean Mamo had requested leave to care for his son, but his employer became aware that Mamo had in fact used the paid day off to take his son out, after photos of them at a Wiggles concert were posted on social media. FWC deputy president Alan Colman said the fact that Mamo claimed a payment to which he was not entitled was sufficient grounds for his dismissal.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED

China will eclipse US economy by 2030, experts say

roymorgansocial Leave a comment

Original article by Andrew Clark
The Australian Financial Review – Page: 9 : 25-Nov-19

Former foreign minister Gareth Evans is among a number of observers who believe that the Chinese economy will become the largest by 2030. However, he says China will not be the dominant world power by this date. Allan Gyngell, the former head of the Office of National Assessments, adds that the rise of China means that Australia will have to manage its relationship with the nation more carefully. Tensions between the two nations may become strained by revelations that Wang Liqiang has offered to supply details of China’s political interference operations in Hong Kong, Taiwan and Australia if he is granted asylum by the federal government.

CORPORATES
AUSTRALIA. OFFICE OF NATIONAL ASSESSMENTS, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Hanson not sold on union bill

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 4 : 25-Nov-19

Centre Alliance senator Rex Patrick has indicated that he will support the federal government’s Ensuring Integrity Bill. He says unions are "very useful organisations" that stand up for workers’ rights, but stresses that they are not above the law. The bill now only requires the support of One Nation or independent senator Jacqui Lambie. One Nation leader Pauline Hanson says her party will consider the government’s final amendments to the bill and consult with unions before deciding its stance.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, ACTU

Activist threat to blockade airport

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 1 & 4 : 25-Nov-19

Extinction Rebellion has demanded immediate action on climate change in the wake of the recent bushfires. The climate activist group has warned that federal MPs will be prevented from accessing Canberra airport when parliament rises for the year on 5 December unless they take action to shut down the fossil fuel industry and adopt a target of net zero emissions by 2025. Shadow resources minister Joel Fitzgibbon says the latter demand would destroy the Australian economy. The proposed blockade has also been criticised by Liberal-National Party MPs Michelle Landry and Keith Pitt.

CORPORATES
EXTINCTION REBELLION, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND