O75 Public Administration

States lock away 200 years of gas supply: business

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Original article by Sarah Martin, Anthony Klan
The Australian – Page: 1 & 4 : 28-Apr-17

The Australian Petroleum Production & Exploration Association says the Federal Government’s move to impose LNG export controls could increase the nation’s sovereign risk and discourage investment in exploration and production. APPEA and Resources Minister Matt Canavan have criticised state governments for restrictions on gas exploration, and APPEA estimates that there are sufficient untapped gas reserves in Victoria and New South Wales to meet demand for gas on the east coast for about 200 years.

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, SANTOS LIMITED – ASX STO, COUNCIL OF AUSTRALIAN GOVERNMENTS

Trump’s bold tax plan spurs PM to try again

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Original article by Joanna Mather, Sue Mitchell
The Australian Financial Review – Page: 3 : 28-Apr-17

The Australian Goverment will renew its push to pass a bill for across-the-board company tax cuts in the Senate after US President Donald Trump unveiled his tax reforms. Treasurer Scott Morrison notes that most developed nations have a lower company tax rate than Australia, and failing to act will threaten investment and jobs. Business Council of Australia CEO Jennifer Westacott and Wesfarmers MD Richard Goyder warn that Trump’s proposal to reduce the US corporate tax rate to 15 per cent highlights the need for Australia to have a more competitive tax regime.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, BUSINESS COUNCIL OF AUSTRALIA, WESFARMERS LIMITED – ASX WES, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL

Bernardi alliance out to block Xenophon

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Original article by Rosie Lewis, Verity Edwards
The Australian – Page: 5 : 27-Apr-17

Liberal Democrat senator David Leyonhjelm says he has agreed to a "loose" voting alliance with the newly-enlarged Australian Conservatives. They will co-operate when voting on issues on which they broadly agree, with the aim of curbing the influence of the Nick Xenophon Team in the upper house. Australian Conservatives founder Cory Bernadi says the new party would welcome any Liberal politicians who wish to defect. His party recently merged with Family First Australia.

CORPORATES
AUSTRALIAN CONSERVATIVES, LIBERAL DEMOCRATIC PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, LIBERAL PARTY OF AUSTRALIA, NICK XENOPHON TEAM, ONE NATION PARTY

Rise in inflation puts squeeze on households

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Original article by Jacob Greber
The Australian Financial Review – Page: 8 : 27-Apr-17

Financial markets believe there is little chance of an official interest rate cut in May 2017, following the release of CPI data for the March quarter. The headline inflation rate was 2.1 per cent year-on-year during the quarter, compared with 1.5 per cent previously. The inflation rate is now within the Reserve Bank’s target range of 2-3 per cent for the first time since late 2014. An increase in gas prices contributed to the rise in the inflation rate, which is now outpacing wages growth.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, STANDARD AND POOR’S ASX 200 INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

PM orders gas giants: Aussies first

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Original article by Sarah Martin
The Australian – Page: 1 & 4 : 27-Apr-17

The Federal Government will introduce an "Australian Domestic Gas Security Mechanism", which is aimed at ensuring that domestic gas supply is sufficient to meet forecast demand. Resources Minister Matt Canavan will be given the power to block gas exports to ensure that gas users on the east coast have access to sufficient gas. Prime Minister Malcolm Turnbull says the government aims to ensure that the domestic price of gas is affordable and reflects global export prices.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, COCONUT AIRLINES, ROYAL DUTCH SHELL PLC, GLADSTONE LNG PTY LTD, AUSTRALIA PACIFIC LNG LIMITED, QUEENSLAND CURTIS LNG PTY LTD, AGL ENERGY LIMITED – ASX AGL

ANZ-Roy Morgan Australian Consumer Confidence declines for the second week in a row – down 1.4pts to 111.2

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 27-Apr-17

Headline ANZ-Roy Morgan Australian Consumer Confidence fell 1.24% to 111.2 in the week ended 23 April 2017, below its long run average. Households’ views towards their current finances fell 1.2%, while views about future finances fell 0.6%. Households’ expectations for economic conditions next year fell 5.3% taking the index to its lowest level since February 2016. Expectations for economic conditions over the next five years rose by 0.2%, but are still close to the lowest level for 2017.

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

Budget in black by 2020: IMF

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Original article by David Uren
The Australian – Page: 1 & 5 : 26-Apr-17

The International Monetary Fund has forecast that the combined Budget deficit of Australia’s federal and state governments will fall to $A39.7bn in calendar 2017, compared with $A45.8bn in 2016. It also forecasts that a $A27bn increase in state and federal government revenue over the next four years will result in a combined Budget surplus of $A2.5bn in 2020. The IMF had previously forecast that a surplus would not be achieved until 2022. The IMF also expects the combined federal and state debt to top $A392.9bn in 2019, before falling to $A375.3bn in 2021.

CORPORATES
INTERNATIONAL MONETARY FUND, AUSTRALIA. DEPT OF THE TREASURY

PM expected to meet Trump in New York

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 26-Apr-17

Australian Prime Minister Malcolm Turnbull has held meetings with Iraq counterpart Haider Al-Abadi and Afghanistan president Ashraf Ghani during a trip to the Middle East. Turnbull also celebrated Anzac Day with Australian soldiers. His impromptu trip was a closely-held secret due to security concerns. Turnbull also held talks with US Defence Secretary James Mattis, and he expected to visit the US in early May to meet President Donald Trump and commemorate the 75th anniversary of the Battle of the Coral Sea.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. DEPT OF DEFENSE, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Ciobo to chase Hong Kong FTA

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Original article by Simon Benson
The Australian – Page: 2 : 24-Apr-17

Trade Minister Steve Ciobo says Australian services industries in particular would benefit from a proposed free trade agreement with Hong Kong. An FTA with Hong Kong is expected to focus on services industries such as finance and education. Ciobo notes that Asia’s middle-class is forecast to increase from 600 million people to three billion by 2035. Two-way trade in goods and services between Australia and Hong Kong totalled $A15.3bn in 2015-16.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

US company tax cut boost

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Original article by Joanna Mather, Matthew Cranston
The Australian Financial Review – Page: 1 & 4 : 24-Apr-17

US Vice-President Mike Pence says many other world economies benefit from a strong US economy, including Australia. With President Donald Trump understood to be announcing major tax reform plans on 26 April 2017, American Chamber of Commerce CEO Niels Marquardt says any cut to company taxes will benefit Australian companies that have a significant presence in the US. Pence, who is visiting Australia, notes that the economic relationship between the US and Australia is worth $A1.5 trillion.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, LEND LEASE GROUP LIMITED – ASX LLC, WESTFIELD CORPORATION – ASX WFD, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CHEVRON CORPORATION, AUSTRALIAN TAXATION OFFICE, CONOCOPHILLIPS, GENERAL ELECTRIC COMPANY, UNIVERSITY OF SYDNEY. UNITED STATES STUDIES CENTRE