O75 Public Administration

Roy Morgan CEO Michele Levine talks to Stan Grant on "Matter Of Fact"

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Nov-18

Roy Morgan CEO Michele Levine joins Stan Grant’s panel on the ABC’s "Matter Of Fact" program and reveals some enlightening insights into what is driving Queensland electors. Levine says the next federal election will be fought on economic issues in Queensland, and she discusses the factors that prompted a large swing against the Liberal-National Party in the Longman by-election. She also notes that the L-NP could lose a number of marginal seats in Queensland at the next election, and adds that disillusionment with both the L-NP and Labor could see a rise in support for independents and minor parties.

CORPORATES
ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

ANZ-Roy Morgan Australian Consumer Confidence continues recovery to 116.8

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Nov-18

ANZ-Roy Morgan Australian Consumer Confidence rose 1.9% to 116.8 in the week ended 4 November. Consumer confidence has now regained almost two-thirds of the drop seen after the Wentworth by-election. Households’ views towards current financial conditions rose by 1.7%, but sentiment regarding the future financial situation fell by 0.4%. Sentiment towards current and future economic conditions fell by 1.9% and 0.4% respectively. The "time to buy a household item" sub-index rose by 9.7%.

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

Finance riddled with rent seekers

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Original article by Adam Creighton
The Australian – Page: 2 : 7-Nov-18

Productivity Commission chairman Michael Brennan says much of the Australian banking and wealth management industry’s revenue can be attributed to excessive fees that are a result of limited competition. Financial services is now the biggest sector of the domestic economy; it accounts for nearly nine per cent of economic output, compared with around four per cent in the early 1980s. Meanwhile, Brennan says that health and education reforms will be essential in lifting the nation’s productivity rate.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BANKING ASSOCIATION

Network CEOs strike back on power prices

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 7-Nov-18

Energy Minister Angus Taylor will meet with the CEOs of power retailers on 7 November, where he will give them until 1 January to begin reducing electricity prices. Meanwhile, the CEOs of electricity network operators argue that regulated network costs have been cut significantly. TransGrid CEO Paul Italiano says its costs now comprise only 3.4 per cent of the average household electricity bill in New South Wales. Electricity retailers in turn argue that network charges, renewable energy subsidies and wholesale tariffs are the major contributors to high electricity bills.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, TRANSGRID, AUSGRID PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, ENDEAVOUR ENERGY LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

End to Godfreys deal paying $160 too little

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Original article by Ewin Hannan
The Australian – Page: 2 : 7-Nov-18

The Fair Work Commission has terminated an enterprise agreement for employees of vacuum cleaner retailer Godfreys that has been in place since 2009. The non-union agreement included wage rates that were $160 per week lower than the award minimum, while casual loadings were also well below the award rate. Godfreys argued that employees could be paid more than the award rate when commissions are taken into account. The enterprise agreement had expired in 2012.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, GODFREYS GROUP LIMITED, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION

RBA says it’s all systems go for booming economy

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Original article by David Uren
The Australian – Page: 1 & 2 : 7-Nov-18

The Reserve Bank of Australia is upbeat about the outlook for the domestic economy, forecasting growth of 3.5 per cent in 2018 and 2019. The central bank also expects the unemployment rate to fall to 4.75 per cent over the next two years, while inflation is forecast to rise above its target range in 2019 to an average of 2.25 per cent. Meanwhile, RBA governor Philip Lowe says growth in wages will be gradual. The RBA has again left interest rates on hold, and financial markets do not anticipate any change in monetary policy until 2020.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC

Bond investors like Labor’s franking cut

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Original article by John Kehoe
The Australian Financial Review – Page: 5 : 7-Nov-18

The Federal Opposition’s plan to abolish cash refunds for excess dividend imputation credits if it wins the next election has widespread support among bond fund managers. Elizabeth Moran of FIIG Securities says the dividend imputation system has prompted many investors to be highly exposed to risker asset classes; she notes that while bonds offer lower yields, they also offer less volatility. Australian Securitisation Forum CEO Chris Dalton agrees that Labor’s policy will make bonds more attractive to investors.

CORPORATES
AUSTRALIAN LABOR PARTY, FIIG SECURITIES LIMITED, AUSTRALIAN SECURITISATION FORUM, REALM INVESTMENT MANAGEMENT PTY LTD, AUSTRALIAN TAXATION OFFICE, ALTIUS ASSET MANAGEMENT PTY LTD, PLATO INVESTMENT MANAGEMENT LIMITED, AUSTRALIAN STOCK REPORT LIMITED, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Investor hit: Labor seats in crossfire

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 7-Nov-18

The federal government’s analysis of income and tax data for 2015-16 shows that 1.3 million Australians owned a negatively-geared investment property during that financial year. Some 640,000 people lived in seats held by the Coalition, while 570,000 were in seats held by Labor. Two Labor-held seats in the Australian Capital Territory had the highest number of people who used negative gearing. Treasurer Josh Frydenberg says Labor’s proposed changes to the negative gearing regime will hit not only its own supporters, but all Australians who own a home.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, RESERVE BANK OF AUSTRALIA, RISKWISE

Payne’s trip ends Chinese freeze

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Original article by Glenda Korporaal
The Australian – Page: 1 & 2 : 6-Nov-18

Australia’s Foreign Minister Marise Payne will meet with her Chinese counterpart Wang Yi during a two-day visit to Beijing from 8 November. The trip is part of efforts to improve the strained relations between the two nations, and could potentially lead to an official trip to China by Prime Minister Scott Morrison. Payne and Wang had held talks during a United Nations conference in August, which led to the invitation for Payne to visit China.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CHINA. MINISTRY OF COMMERCE, ASIA-PACIFIC ECONOMIC CO-OPERATION

Beware of a wounded Trump

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 10 : 6-Nov-18

Australia’s former prime minister Kevin Rudd says US President Donald Trump may be less likely to seek a resolution to the trade dispute with China if the Republicans perform badly in the mid-term elections. Rudd adds that Trump may adopt a more "extreme" position on issues such as immigration, foreign policy and economic policy if the Democrats gain control of the House of Representatives. The Democrats and Republicans have spent a record $US5.2bn in total on the mid-term elections.

CORPORATES
REPUBLICAN PARTY (UNITED STATES), DEMOCRATIC PARTY (UNITED STATES), UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, HIGH FREQUENCY ECONOMICS, UNIVERSITY OF WESTERN AUSTRALIA, ASIA SOCIETY POLICY INSTITUTE