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Media regime just a way to keep bad laws

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Original article by Richard Ferguson, Leo Shanahan
The Weekend Australian – Page: 7 : 29-Feb-20

The Australian Federal Police and the Department of Home Affairs have used a joint submission to the parliamentary joint committee on intelligence and security to propose a ‘notice to produce’ regime for journalists. This would require an independent body to assess requests from security agencies for access to documents and communications between journalists and their confidential sources. The proposal has been criticised by News Corp Australia’s executive chairman Michael Miller, while Labor contends that journalists would still be at risk from prosecution and jail.

CORPORATES
AUSTRALIAN FEDERAL POLICE, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION

Rio zeroes in on lithium but copper may be next

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Original article by Peter Ker
The Australian Financial Review – Page: 21 : 2-Mar-20

Rio Tinto has not made any major acquisitions under current CEO Jean-Sebastien Jacques. However, it has looked at more than 200 opportunities over the last three years, while its low level of debt means it is well-placed to pursue deals. Bold Baatar, the head of Rio Tinto’s energy and minerals division, says lithium has been its focus in terms of potential acquisitions. He adds that Rio Tinto is interested in other metals that are used in vehicle batteries, such as copper and high purity nickel.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Streaming lifts Foxtel’s sports subs to record

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Original article by Max Mason
The Australian Financial Review – Page: 23 : 28-Feb-20

Foxtel CEO Patrick Delany has defended the pay-TV group’s Kayo Sports streaming service, after its subscriber base declined in the December quarter. He argues that four of the five major sports in Australia end their seasons in September, so Kayo can expect to have fewer subscribers in a period when cricket is the only major sport. The media group’s sports subscriber base has risen to a record level when measured across its traditional broadcast, Foxtel Now and Kayo services.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS, FOXTEL NOW

Relief for Lynas as licence renewed amid Malaysian turmoil

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Original article by Brad Thompson
The Australian Financial Review – Page: 21 : 28-Feb-20

Rare earths producer Lynas Corporation expects to meet the conditions imposed by the Malaysian government in renewing its operating licence for another three years. They include a deadline of mid-2023 to begin extracting low-level radioactive material from rare earths at a cracking and leaching plant in Western Australia, rather than undertaking the initial processing in Malaysia. Lynas must also commence work on developing a permanent disposal facility for radioactive waste in Malaysia within 12 months.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC

ABC won’t appeal Federal Court ruling that found AFP raids on public broadcaster valid

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Original article by
abc.net.au – Page: Online : 28-Feb-20

ABC MD David Anderson has advised that the public broadcaster will not contest the Federal Court’s recent decision to dismiss its challenge to the validity of police raids on its Sydney offices in mid-2019. The court found that the Australian Federal Police’s warrant to search the ABC’s premises was valid, and it ordered the broadcaster to pay costs. Anderson has described the ruling as a "blow to media freedom", adding that it has implications for journalists and the public’s right to know.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, FEDERAL COURT OF AUSTRALIA

Nine to give sport, movies the chop

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 27-Feb-20

Nine Entertainment Company has reported a 2019-20 interim net profit of $101.9m, which is 41 per cent lower than previously. The result was marred by write-downs totalling $75.2m. The Nine Network’s underlying earnings fell by 36 per cent to $103.5m and revenue was six per cent lower at $531.2m, while earnings from its digital and publishing assets rose by seven per cent to $46.7m. Nine CEO Hugh Marks has flagged cost cuts of $100m at the Nine Network over the next three years.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED

Slowing sales hit Woolies earnings

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Original article by Eli Greenblat
The Australian – Page: 19 : 27-Feb-20

Woolworths has posted a 2019-20 interim net profit of $887m, which is 7.7 per cent lower than previously. The retail giant’s half-year accounts included an $80m hit from its wage underpayments scandal. Woolworths has advised that its wage remediation costs have blown out to $315m, plus $80 million in interest payments. Meanwhile, CEO Brad Banducci notes that the group’s sales have been impacted by the coronavirus, particularly in suburbs that have a high proportion of Asian consumers and students from China.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW

Saviour found for Jeanswest chain

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Original article by Eli Greenblat
The Australian – Page: 19 : 26-Feb-20

The Australian subsidiary of Hong Kong-based Harbour Guide has secured a deal to acquire failed clothing retailer Jeanswest. Harbour Guide is owned by businessman Chun Fan Yeung, who is a shareholder in Jeanswest’s former parent company, Howsea. The sale to Harbour Guidance Pty Ltd is conditional on landlords agreeing to new lease arrangements for Jeanswest stores. The deal will result in up to 106 stores remaining open, which will allow about 680 employees to keep their jobs.

CORPORATES
JEANSWEST CORPORATION PTY LTD, HARBOUR GUIDE LIMITED, HARBOUR GUIDANCE PTY LTD, HOWSEA LIMITED

News Corp underpaid super

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 25-Feb-20

News Corp Australia says that about 2,500 current and former employees have not received their correct superannuation entitlements due to payroll system errors. A spokesman says that most of the affected employees were underpaid by less than $250, and they are collectively owed around $1.5m. The underpayments were discovered during a review of News Corp’s super contributions, which also revealed some instances of wages being overpaid.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Roy Morgan Customer Satisfaction Awards 2019: Australia’s retail winners announced

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Feb-20

The 2019 Roy Morgan Customer Satisfaction Awards have been presented in Melbourne. The winners of the retail categories included some of Australia’s biggest brands, as well as some lesser-known businesses, all of which have earned their place at the top of their respective industries. There were several winners in the retail category that won 12 straight monthly awards throughout 2019. These include The Reject Shop (Discount Variety Store), Bunnings Warehouse (Hardware Store), Subway (Major Quick Service Restaurant), Rebel (Sports Store) and Foodland (Supermarket). Myer (Department Store) and IKEA (Major Furniture/Electrical Store) followed on from their wins last year, while Supercheap Auto (Auto Store), The Athlete’s Foot (Shoe Store), First Choice Liquor (Liquor Store), Harris Scarfe (Discount Department Store), Betta Home Living (Furniture/Electrical Store), Crust Pizza (Quick Service Restaurant), Guardian (Chemist/Pharmacy) and Michel’s (Coffee Shop) returned to the winners list after absences. Just Jeans (Clothing Store) won its first annual award.

CORPORATES
ROY MORGAN LIMITED