O75 Public Administration

Turnbull turns up heat on Shorten over Adani loan

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Original article by Joe Kelly
The Australian – Page: 2 : 13-Apr-17

Opposition Leader Bill Shorten still opposes granting Adani a concessional loan from the Northern Australian Infrastructure Facility to build a rail line associated with its Carmichael coal project. He notes that Prime Minister Malcolm Turnbull indicated in 2016 that the project would not receive financial support from taxpayers. Resources Minister Matt Canavan has also criticised Labor counterpart Jason Clare for claiming that Adani would have exclusive access to the rail line. Canavan says that several other coal miners would benefit from the rail line.

CORPORATES
ADANI ENTERPRISES LIMITED, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, AUSTRALIAN LABOR PARTY, HANCOCK PROSPECTING PTY LTD, GVK INDUSTRIES LIMITED, WARATAH COAL PTY LTD, MACMINES AUSTASIA PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

Kikki.k’s penalty rate secret exposed

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 7 : 13-Apr-17

The Fair Work Commission recently approved a new enterprise bargaining agreement for stationery retailer kikki.K. The EBA includes provision for a reduction in Sunday and public holiday penalty rates. However, employees say that they are not paid penalty rates at present, as they are employed as casual staff via labour hire firm Employment Innovations rather than directly by kikki.K. Some employees also say they were not involved in negotiations for the new EBA and only managerial staff were allowed to vote on it.

CORPORATES
KIKKI.K PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, EMPLOYMENT INNOVATIONS PTY LTD, HRO INITIATIVES, EI ADMINISTRATIVE SERVICES, TDM ASSET MANAGEMENT PTY LTD, FIRST SUPER PTY LTD, DAVID JONES LIMITED

$500k in fines for ‘arrogant’ CFMEU

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Original article by Simone Fox Koob
The Australian – Page: 2 : 12-Apr-17

The Construction, Forestry, Mining & Energy Union has been ordered to pay a $A490,000 fine over unlawful industrial action in 2014. The Federal Court has also imposed fines of between $A6,400 and $A22,400 on 10 CFMEU officials for their involvement in the industrial action against Kane Constructions. The strike action, which disrupted 10 construction projects in Victoria, was prompted by Kane’s move to enforce union right-of-entry laws. The judgment has been welcomed by Employment Minister Michaelia Cash.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, KANE CONSTRUCTIONS PTY LTD, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN MANUFACTURING WORKERS’ UNION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, SIR OWEN DIXON CHAMBERS, BMC WELDING AND CONSTRUCTION, JOHN BEEVER PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Nation’s snapshot: ages, mortgagees on the rise

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Original article by Rick Morton
The Australian – Page: 1 & 2 : 12-Apr-17

The first data from the 2016 Census shows that the "typical" Australian is a 38-year-old married women with two children and a mortgage. While both parents of this average Australian were born in Australia, the Census data shows that in both Victoria and New South the average resident now boasts at least one parent who was born overseas. The data also indicates that Australia has become a nation of home loan borrowers. New South Wales and Tasmania are now the only states where a majority of residents own their home outright.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN NATIONAL UNIVERSITY

Adani mine has huge economic benefits: Turnbull

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Original article by David Crowe
The Australian – Page: 4 : 12-Apr-17

Prime Minister Malcolm Turnbull has highlighted the proposed Carmichael coal mine’s likely contribution to jobs growth and government revenue. Turnbull has held talks with Indian entrepreneur Gautam Adani, who believes that the project qualifies for funding from the Northern Australia Infrastructure Facility. However, Opposition Leader Bill Shorten says the Carmichael coal mine and rail project needs to be commercially and economically viable, and it should not receive financial assistance from taxpayers.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ADANI ENTERPRISES LIMITED, ADANI MINING PTY LTD, AUSTRALIAN LABOR PARTY, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY

Business Confidence up in March; but low confidence sees Barnett Government thrown out

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Apr-17

Roy Morgan Research’s Business Confidence rose 2.4% to 113.8 in March 2017. The rise in Business Confidence coincided with the All Ordinaries Index gaining 142.8pts (+2.5%) to 5,903.8. However, the continuing low Western Australian Business Confidence contributed to the election loss for former premier Colin Barnett. WA has consistently had the lowest Business Confidence of any State since the end of the mining boom in mid-2015. A record high 43.3% (up 3.4ppts) of businesses say they are "better off financially" than a year ago while just 28.6% (down 2.2ppts) say they are "worse off", a net positive gain of 5.6ppts. In addition, 50.1% (up 4.4ppts) of businesses expect "good times" for the Australian economy over the next 12 months, while 46.1% (down 0.8ppts), expect "bad times" – a net positive gain of 5.2ppts. Meanwhile, 50% (up 0.8ppts) expect "good times" for the economy over the next five years, while 41.8% (unchanged) expect bad times.

CORPORATES
ROY MORGAN RESEARCH LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

ANZ-Roy Morgan Australian Consumer Confidence recovers after stumble – up 3.7pts to 114.8

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Apr-17

Headline ANZ-Roy Morgan Australian Consumer Confidence rose 3.3% to 114.8 in the week ended 9 April 2017, more than reversing the previous week’s fall. The four-week average climbed 0.4ppt to 112.9 to be in line with the long-term trend. Increases were observed across the board, with households’ views towards their current finances registering a gain of 5.2% to 107.0, the highest since February. Views about future finances improved by 1.4% to 123.9. Expectations for economic conditions for next year increased by 3.5% on a weekly basis, while expectations for economic conditions in the next five years increased by 2.6%.

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

Morrison cools on tinkering with CGT

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Original article by Laura Tingle, James Eyers, Su-Lin Tan
The Australian Financial Review – Page: 6 : 11-Apr-17

Treasurer Scott Morrison says the Federal Government supports regulatory moves aimed at curbing interest-only mortgage loans. Morrison says such measures should help ease housing prices and reduce high levels of household debt. His comments suggest that he is not looking at changes to capital gains tax. Morrison says it is important to ensure that returns from rental property do not become too unattractive, as this would deter "mum and dad investors".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

50-year rule for coal-fired power stations gathers steam

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Original article by Sarah Martin
The Australian – Page: 1 & 6 : 11-Apr-17

The Federal Government is understood to be considering a new mechanism for ensuring a smooth transition to renewable energy. Having rejected the idea of an emissions intensity scheme, the Government is believed to be planning to adopt a "50-year rule" for coal-fired power stations. The idea has the support of the Business Council of Australia, with CEO Jennifer Westacott saying it would enable the closure of coal-fired power plants to be staggered.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY MARKET COMMISSION

PM to push security ties with India

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 11-Apr-17

Prime Minister Malcolm Turnbull does not expect a free trade deal between Australia and India to be signed any time soon. Turnbull, who is visiting India, noted that there are issues on both sides of the free trade discussion that will need to be overcome before progress towards an agreement can be made. Turnbull and Indian Prime Minister Narendra Modi have agreed on the need for stronger security ties between the two countries, while Turnbull is keen to promote Australia as the premier destination for Indian students wanting to study overseas.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, INDIA. PRIME MINISTER’S OFFICE, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, ADANI ENTERPRISES LIMITED, SKY NEWS, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP, TRANS-PACIFIC PARTNERSHIP, AUSTRALIAN NEWS CHANNEL PTY LTD