Free votes and fixed terms top reform list

Original article by Joe Kelly
The Australian – Page: 4 : 12-Nov-19

A paper containing 15 proposals for reform to Australia’s system of government has been submitted to a parliamentary inquiry into nationhood, national identity and democracy. The proposals, which have been compiled by the newDemocracy Foundation, the ­Melbourne School of Government, and the Susan McKinnon Foundation, include fixed parliamentary terms, an increase in the number of ‘free’ votes, and an independent speaker. Former Victorian Labor premier John Brumby and former LNP Queensland premier Campbell Newman are among those to have endorsed the reform proposals.

CORPORATES
THE NEWDEMOCRACY FOUNDATION, MELBOURNE SCHOOL OF GOVERNMENT, SUSAN MCKINNON FOUNDATION, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Co-author of ALP’s tax policy slammed

Original article by Geoff Chambers
The Australian – Page: 4 : 12-Nov-19

Federal Opposition leader Anthony Albanese and opposition Treasury spokesman Jim Chalmers have sought to omit the use of the phrase ‘the top end of town’ following Labor’s defeat in the May election. However, Assistant Treasurer Michael Sukkar notes Chalmers has used the phrase over 300 times since 2013. Sukkar has also accused Chalmers of allowing Bill Shorten and Chris Bowen to take all of the blame for Labor’s tax policies, saying he should admit to playing his part in putting the policies together.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

The $10bn tax company

Original article by Peter Ker
The Australian Financial Review – Page: 44-45 : 12-Nov-19

BHP’s tax bill in Australia was $US4.72bn ($6.79bn) in 2018-19, compared with $US1.79bn ($2.33bn) two years earlier. BHP contends that when state government royalties on its iron ore and coking coal exports are taken into account, its total economic contribution in Australia was about $US7bn ($10bn) in 2018-19. BHP’s relations with the Australian Taxation Office have improved in recent years, and second commissioner Jeremy Hirschhorn recently praised the resources giant’s annual economic contribution report.

CORPORATES
BHP GROUP LIMITED – ASX BHP, AUSTRALIAN TAXATION OFFICE, RIO TINTO LIMITED – ASX RIO, TRANSPARENCY INTERNATIONAL AUSTRALIA

Riches keep rolling in for Rinehart

Original article by John Stensholt
The Australian – Page: 22 : 12-Nov-19

Hancock Prospecting posted a net profit of $2.6bn in 2018-19, compared with just $443m in 2016, while its revenue increased from $1.6bn to $8.4bn over the same period. Hancock, which is controlled by mining magnate Gina Rinehart, benefited from a sustained rally in the iron ore price in 2018-19. The Roy Hill iron ore project was a major contributor to Hancock’s earnings for the financial year, with a profit of $1.38bn and revenue of $5.16bn. Rinehart’s wealth was estimated at $13.12bn in March.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD

QE coming next year: JPMorgan

Original article by David Rogers
The Australian – Page: 17 & 28 : 12-Nov-19

JPMorgan Australia’s chief economist Sally Auld expects the Reserve Bank to implement unconventional monetary policy measures in the December 2020 quarter. Auld still anticipates another official interest rate cut in February, but warns that this will be insufficient to stimulate the economy, prompting the central bank to reduce the cash rate to 0.25 per cent and commence a quantitative easing program in late 2020. However, Auld says quantitative easing is unlikely to be necessary if the federal government’s May 2020 Budget includes ‘meaningful’ fiscal stimulus.

CORPORATES
RESERVE BANK OF AUSTRALIA, JP MORGAN AUSTRALIA LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC

Federal Election bounce over – Business Confidence drops to lowest since April

Original article by Roy Morgan
Market Research Update – Page: Online : 12-Nov-19

In Australia, Business Confidence fell 4.6pts (-4.2%) to 106.0 in October 2019, according to the latest Roy Morgan Business Single Source survey. Business Confidence is now at its lowest level since the Federal Election in mid-May; it is also 7.1pts lower than a year ago and 9.5pts below the long-term average of 115.5. Now 41.8% (down 9.9ppts) of businesses expect the business to be ‘better off’ financially this time next year, while 20.3% (up 2.1ppts) expect the business to be ‘worse off’. Meanwhile, 40.7% (down 5.8ppts) of businesses expect the Australian economy to have ‘good times’ economically over the next year, while 52.4% (up 4.2ppts) expect the economy to have ‘bad times’. Some 50.4% (down 2.1ppts) of businesses say the next year will be a ‘good time to invest in growing the business’, while only 35.8% (down 2.8ppts) say it will be a ‘bad time to invest’. Roy Morgan Business Confidence results in October are based on 1,104 interviews with a cross-section of Australian businesses.

CORPORATES
ROY MORGAN LIMITED

Loans double at non-banks as majors slide

Original article by Aleks Vickovich
The Australian Financial Review – Page: 18 : 12-Nov-19

Australia’s four major banks and their subsidiaries experienced a 10 per cent fall in market share in business lending and equipment finance in 2018-19, according to the inaugural business lending index report, put together by mortgage aggregator FAST. FAST Group CEO Brendan Wright says the ability of the major banks to service the demands of business customers is being hampered by distractions and regulatory hurdles, and that non-bank players are taking advantage of this situation.

CORPORATES
FAST GROUP, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Greens playing with fire

Original article by Greg Brown, Andrew Clennell, Craig Johnstone, Olivia Caisley, Ean Higgins
The Australian – Page: 1 & 6 : 12-Nov-19

Greens leader Richard Di Natale has attracted criticism for attempting to link the bushfires in New South Wales and Queensland to the major political parties’ climate change polices. National Party leader Michael McCormack has labelled the comments as disgraceful and disgusting, while shadow agriculture minister Joel Fitzgibbon has accused the Greens of hypocrisy given that they opposed Labor’s carbon pollution reduction scheme. Meanwhile, NSW Deputy Premier John Barilaro says the state’s National Parks Service should have undertaken more backburning before the bushfire season commenced.

CORPORATES
AUSTRALIAN GREENS, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. NATIONAL PARKS AND WILDLIFE SERVICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNIVERSITY OF WOLLONGONG, NEW SOUTH WALES RURAL FIRE SERVICE, SHINE ENERGY

Michel’s knows what its customers want, serving up record highs in coffee shop satisfaction

Original article by Roy Morgan
Market Research Update – Page: Online : 12-Nov-19

Michel’s is the winner of Roy Morgan’s Coffee Shop of the Month Award for September 2019, with a customer satisfaction rating of 91%. Over the past two months, Michel’s has recorded its two highest satisfaction ratings, and is now in a strong position to win the annual satisfaction award for the first time since 2014. Michel’s is followed by Donut King (86%), The Coffee Club (85%) and Gloria Jean’s and Muffin Break (both on 83%). These customer satisfaction ratings have been drawn from the Roy Morgan Single Source survey, derived from in-depth face-to-face interviews with over 1,000 Australians each week in their homes.

CORPORATES
ROY MORGAN LIMITED, MICHEL’S, DONUT KING, THE COFFEE CLUB PTY LTD, GLORIA JEAN’S COFFEES PTY LTD, MUFFIN BREAK PTY LTD

Hundreds of schools to be shut down across Sydney, Wollongong and Newcastle as New South Wales faces catastrophic bushfire risk

Original article by
abc.net au – Page: Online : 12-Nov-19

New South Wales Premier Gladys Berejiklian has declared a seven-day state of emergency as many parts of the state face ‘catastrophic’ bushfire conditions on 12 November. Around 600 schools across the state will be closed, along with childcare centres in high-risk areas. The NSW Rural Fire Service states that live embers could travel up to 30 kilometres from fire fronts, while it has warned people that it might not have enough time to warn them about some fires. Transport for NSW is warning people to avoid non-essential travel on roads and public transport.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, TRANSPORT FOR NSW, NEW SOUTH WALES RURAL FIRE SERVICE