O75 Public Administration

China slaps ban on exports

roymorgansocial Leave a comment

Original article by Perry Williams, Glenda Korporaal
The Australian – Page: 1 & 2 : 22-Feb-19

The Australian dollar fell by more than one per cent on 21 February following reports that China has imposed an indefinite ban on thermal coal exports from Australia entering five ports in northern China. Trade Minister Simon Birmingham has asked Australia’ s ambassador in Beijing, Jan Adams, to investigate the apparent ban. Australia exported around $2.1 billion worth of thermal coal to the five ports in 2018. It has been suggested that China’s action could be linked to Australia’s ban on technology company Huawei.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, HUAWEI TECHNOLOGIES COMPANY LIMITED, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, MINERALS COUNCIL OF AUSTRALIA

Taxpayers’ $830k legal bill for ROC hearings

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 2 : 21-Feb-19

Mark Bielecki, the head of the Registered Organisations Commission, has told a Senate estimates hearing that the legal costs arising from raids on Australian Workers’ Union offices have topped $550,000. This is in addition to the $288,000 that Small Business Minister Michaelia Cash has spent on legal representation. Cash came under scrutiny by Labor members of the committee over the evidence she gave to the Australian Federal Police after details of the raids were leaked to the media.

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

Coal collapse ‘a good thing’, Labor MP says

roymorgansocial Leave a comment

Original article by Ben Packham, Joe Kelly
The Australian – Page: 1 & 4 : 21-Feb-19

Resources Minister Matt Canavan has criticised comments made by Labor MP Richard Marles about the coal industry. Marles said the decline of the global thermal coal industry is "a good thing" as it implies that action is being taken to address climate change. Canavan argues that both coal prices and demand for coal are strong, and he says Marles’ comments show that Labor wants to shut down Australia’s largest export industry with the loss of more than 50,000 jobs. Marles later sought to clarify his comments.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN LABOR PARTY, MINERALS COUNCIL OF AUSTRALIA, NEW SOUTH WALES MINERALS COUNCIL, ADANAC MOLYBDENUM CORPORATION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Our carbon cut apocalypse

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 4 : 21-Feb-19

Former bureaucrat Brian Fisher has undertaken independent modelling of the economic impact of the climate change policies of Labor and the Coalition. The modelling suggests that Labor’s policy would result in cumulative economic losses of $472bn over the 10 years to 2030, compared with $70bn under the Coalition’s policy. Labor’s policy would also result in 336,000 fewer jobs in 2030 and an eight per cent fall in real wages; in contrast, there would be about 78,000 fewer jobs under the Coalition’s policy, while real wages would be two per cent lower. Fisher was the chief adviser on climate policy to both Labor and Coalition governments.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN BUREAU OF AGRICULTURAL AND RESOURCE ECONOMICS AND SCIENCES, BAECONOMICS PTY LTD, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE

Union warns of action as deal rejected again

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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

roymorgansocial Leave a comment

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