O75 Public Administration

Our people are worth the penalty rates: JB Hi-Fi

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Original article by Damon KitneyEli Greenblat
The Australian – Page: 2 : 17-Jul-17

JB Hi-Fi is the latest company to disclose that it has not reduced its Sunday and public holiday penalty rates in line with the Fair Work Commission’s ruling, which took effect on 1 July. CEO Richard Murray says the listed retailer’s staff is one of its most important assets. He stated earlier in 2017 that while JB Hi-Fi has no issue with paying penalty rates, it believes that similar rates should apply on Saturdays and Sundays. Chemist Warehouse, My Chemist, Kikki.k and Lush have also declined to reduce penalty rates for existing employees.

CORPORATES
JB HI-FI LIMITED – ASX JBHAUSTRALIA. FAIR WORK COMMISSIONCHEMIST WAREHOUSEMY CHEMIST PTY LTDKIKKI.K PTY LTDLUSHCITIGROUP PTY LTDMYER HOLDINGS LIMITED – ASX MYRWESFARMERS LIMITED – ASX WES

Bernardi building his power base

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Original article by Greg Sheridan
The Australian – Page: 1 & 4 : 17-Jul-17

Cory Bernardi says his recently formed Australian Conservatives party now has close to 13,000 members across the country, including around 2,500 in Victoria. It will become formally registered as a political party in Victoria on 17 July, having already been registered federally and in Bernardi’s home state of South Australia. The party is targeting voters on the centre-right side of the political spectrum who are not happy with the Liberal Party, but would be reluctant to vote for One Nation’s Pauline Hanson.

CORPORATES
AUSTRALIAN CONSERVATIVESLIBERAL PARTY OF AUSTRALIAFAMILY FIRST PARTY AUSTRALIA LIMITEDDEMOCRATIC LABOR PARTYELECTORAL COMMISSION OF VICTORIANATIONAL PARTY OF AUSTRALIAAUSTRALIAN GREENSONE NATION PARTY

‘End civil war or Libs will lose’

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Original article by Rosie LewisSarah Elks
The Australian – Page: 1 & 4 : 17-Jul-17

Liberal Party of Australia president Nick Greiner has warned that the Coalition will lose the next federal election if the current disunity continues. He has urged Prime Minister Malcolm Turnbull and predecessor Tony Abbott to resolve their differences, but stresses that it is up to them to take the initiative rather than wait for a third party to intervene. Greiner notes that the Government’s achievements are being undermined by the infighting, which is providing a distraction for voters.

CORPORATES
LIBERAL PARTY OF AUSTRALIAAUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINETAUSTRALIAN LABOR PARTYLIBERAL-NATIONAL PARTY OF QUEENSLAND

Economic issues ‘Unemployment’ and ‘The Economy’ top the list of concerns for Australians in mid-2017

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 17-Jul-17

A special Roy Morgan telephone survey has found that in mid-2017, 38% of Australians believe the economy or some kind of economic issue to be the most important problem facing Australia. This is 3% higher than in March 2017, although down 4% compared to a year ago. Within the group of Economic & Financial issues the most important issues are Unemployment (mentioned by 9% of respondents), the Economy in general and Interest rates (mentioned by 8% of respondents), and Housing affordability (mentioned by 6% of respondents). Analysing the question by Federal voting intention shows that 49% of Liberal-National Party supporters nominate an Economic issue as the biggest problem facing Australia, while Australian Labor Party supporters (39%) are almost in line with the broader community. Only 24% of Greens supporters nominate Economic issues as the most important problems facing Australia.

CORPORATES
ROY MORGAN RESEARCH LIMITED

A union merger that will cost us all

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Original article by
The Australian Financial Review – Page: 38 : 14-Jul-17

The proposed merger between the Construction, Forestry, Mining & Energy Union and two smaller unions will strengthen the union movement’s influence on the Australian economy. An enlarged CFMEU would have unprecedented control over the supply chain from "pit to port" across the nation’s resources sector. While the merger will be welcomed by the Australian Labor Party, a merger in the corporate sector that would result in a similar monopoly over labour supply would attract scrutiny from the competition regulator. Editorial.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, TEXTILE, CLOTHING AND FOOTWEAR UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, BORAL LIMITED – ASX BLD, DE MARTIN AND GASPARINI PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CHEVRON CORPORATION

ANZ-Roy Morgan New Zealand Consumer Confidence down slightly in July to 125.4

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 14-Jul-17

The ANZ-Roy Morgan New Zealand Consumer Confidence Index has eased from 127.8 to 125.4 in July 2017, although it is still the second-highest result in the past five months. The Current Conditions Index fell 4 points to 124.9, while Future Conditions dipped 1 point to 125.8. Consumers’ views of their own financial position eased from +14 to +10. Consumers’ views regarding their own financial situation in 12 months’ time were little changed at +32 (+33 previously). Net optimism towards the economy one year out dipped from +25 to +23, and when assessing the five-year economic outlook, optimism held at +23, which is well above the average since 2015.

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

Tax good for competition: Morrison

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Original article by Andrew Tillett, Jacob Greber
The Australian Financial Review – Page: 3 : 14-Jul-17

Treasurer Scott Morrison had claimed that limiting the Federal Government’s bank levy to the five major banks would boost competition in the banking sector. However, smaller banks have been increasing their interest rates on higher-risk products such as interest-only loans. Shadow treasurer Chris Bowen says Morrison’s claim that the levy would enhance competition is "complete rubbish".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, STANDARD AND POOR’S FINANCIAL SERVICES LLC, MOODY’S INVESTORS SERVICE INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MORTGAGE CHOICE LIMITED – ASX MOC

Bosses face super gap crackdown

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Original article by Michael Roddan
The Australian – Page: 1 & 5 : 14-Jul-17

The Australian Government will take legislative action to close a loophole that allows companies to reduce compulsory superannuation contributions if the worker has opted to make voluntary contributions via salary-sacrificing. At present employers can legally pay less than 9.5 per cent of an employee’s salary into their super fund by basing it on the worker’s post-sacrificing wage. The reform is one of several recommendations of a report that was jointly produced by several regulatory agencies.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN

Tax blitz on lawyers, accountants

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Original article by Duncan Hughes, Joanna Mather
The Australian Financial Review – Page: 1 & 8 : 14-Jul-17

The Australian Government’s taskforce on the black economy is slated to release its final recommendations in October 2017. The head of the taskforce, Michael Andrew, has proposed greater scrutiny of lawyers and accountants as part of the effort to combat the cash economy, which is estimated to be worth around $A30bn. The taskforce has examined a number of options for addressing the issue, including a ban on cash transactions exceeding $A10,000, providing incentives for companies to shift to non-cash business models and offering an amnesty for cash-only businesses that transition to electronic payments.

CORPORATES
AUSTRALIAN TAXATION OFFICE, KPMG AUSTRALIA PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED, AUSTRALIA. DEPT OF FINANCE, PROPERTY COUNCIL OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, THE TAX INSTITUTE, NATIONAL PRESS CLUB (AUSTRALIA)

‘Lift your gas exploration bans’

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Original article by Rosie Lewis
The Australian – Page: 1 & 2 : 13-Jul-17

Federal Energy Minister Josh Frydenberg will use the Council of Australian Governments meeting on 14 July to urge state and territory energy ministers to endorse the recommendations of the Finkel energy review. He will also urge Victoria and the Northern Territory to overturn their moratoriums on onshore gas development. Victorian Energy Minister Lily D’Ambrosio argues that Australia’s current level of gas exports is not sustainable and is resulting in higher prices for domestic users. She favours the introduction of a clean energy target rather than increased gas production in Victoria.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, TESLA INCORPORATED, NEOEN, AUSTRALIAN ENERGY COUNCIL, ENERGY NETWORKS ASSOCIATION OF AUSTRALIA, AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION