PM touts a new era of state unity

Original article by Geoff Chambers, Simon Benson
The Australian – Page: 1 & 5 : 26-May-20

Prime Minister Scott Morrison will use a National Press Club speech on 26 May to outline the key principles of the federal government’s JobMaker economic plan for the post-coronavirus environment. Amongst other things, Morrison will call for greater co-operation between unions and business as part of a push to overhaul the industrial relations system. He will also stress the need for changes to the jobs training sector, arguing that the current system for allocating skills funding to the states and territories is not working.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PRESS CLUB (AUSTRALIA)

Zahra calls for overhaul of retail awards

Original article by Glenda Korporaal
The Australian – Page: 15 : 25-May-20

Retail sector employees are covered by 122 separate industry awards, and Australian Retailers Association CEO says this should be reduced as part of the nation’s economic recovery from the pandemic. Zahra has also urged greater flexibility with regard to stores’ trading hours and penalty rates in the sector. He argues that the complexity of the awards system is contributing to the growing problem of wage underpayments in the retail sector. Zahra warns that retail sales could fall sharply when the JobKeeper scheme is phased out in September.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION

Super sector should shrink 80pc: report

Original article by James Thomson
The Australian Financial Review – Page: 19 : 25-May-20

Management consulting firm Right Lane contends that a major rationalisation of Australia’s superannuation sector is necessary. Associate principal Abhishek Chhikara suggests that there is scope for 3-5 large "generalist" funds and 7-10 niche funds that are focused on specific industries or types of super products. Right Lane estimates that a super fund needs a minimum of 500,000 active members in order to operate efficiently, and ideally they should have between one and two million active members. The firm expects the pandemic to increase the pressure on smaller funds.

CORPORATES
RIGHT LANE CONSULTING

Cut tax to spark mining boom

Original article by Geoff Chambers
The Australian – Page: 1 & 5 : 25-May-20

The Minerals Council of Australia has urged the federal government to reduce the company tax rate as part of its post-coronavirus economic strategy. MCA CEO Tania Constable says the nation’s corporate tax rate is not internationally competitive, and measures such as tax reform and speeding up project approvals could prompt a new wave of resources projects worth around $100bn. Master Builders Australia has in turn called for a $13.2bn stimulus package for the construction industry. Prime Minister Scott Morrison will deliver an economic recovery speech on 26 May.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

The pandemic lockdown reduced betting options, but over half of bettors were already gambling online

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

A new report from Roy Morgan shows half of all adult Australians gambled in some form in an average three-month period over the year to March 2020. Betting — on horse races, trotting, greyhound races and sports — was the third most popular form of gambling, behind buying scratch or lottery tickets and playing poker machines. However of the three, betting has by far the most online participants. While lockdowns in all states saw the closure of betting venues, more than half of bettors were already placing bets online. Of those who placed a bet, 54.1% did so in a TAB outlet, while 55.2% did so online (some did both). In contrast, just 0.9% of poker machine players and 24% of scratch and lottery ticket purchasers did so online.

CORPORATES
ROY MORGAN LIMITED

JobKeeper gaffe bonus to help rein in debt

Original article by Geoff Chambers, Greg Brown
The Australian – Page: 1 & 5 : 25-May-20

Prime Minister Scott Morrison concedes that responsibility for the massive over-estimate of the cost of JobKeeper ultimately rests with him. The wage subsidy scheme is now expected to cost about $70bn rather than the $130bn that had been budgeted, after it was revealed that about 1,000 businesses had mistakenly entered the amount of money they expected to receive under the scheme rather than the number of eligible employees. Morrison says the revised cost of JobKeeper will reduce government borrowings, while Treasurer Josh Frydenberg has ruled out broadening the eligibility criteria for the scheme.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

AAP bid: consumer watchdog warns Nine and News Corp against any attempt to block sale

Original article by Paul Smee
The Guardian – Page: Online : 25-May-20

Former News Corp CEO Peter Tonagh is heading a consortium that has tabled a bid for Australian Associated Press. The consortium also includes Samuel Terry Asset Management MD Fred Woollard and Australian Impact Investments MD Kylie Charlton. It is believed that AAP’s shareholders – News Corporation, Seven West Media and Nine – have yet to accept any offer for the news wire service. Australian Competition & Consumer Commission chairman Rod Sims has stressed the importance of AAP to media diversity and competition, and he warns that any attempt by Nine and News to block its would raise concerns in regard to competition law.

CORPORATES
AUSTRALIAN ASSOCIATED PRESS PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

News Corp Binges to ease Foxtel’s streaming woes

Original article by Zoe Samios
The Sydney Morning Herald – Page: Online : 25-May-20

Binge CEO Julian Ogrin says he is confident that the new entertainment streaming service will attract more subscribers to Foxtel. Ogrin also runs Foxtel’s Kayo sports streaming service; he says that like Kayo, Foxtel is going for "a whole new audience" with Binge. He believes that Binge will complement Netflix’s local subscriber base, while industry observers believe the money that Foxtel is putting into Binge is similar to the amount it put into Kayo when it was launched in November 2018. News Corp Australia owns 65 per cent of Foxtel.

CORPORATES
BINGE, FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS, NETFLIX INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD

Supermarket retailers capture largest (and growing) share of packaged alcohol market but wine clubs attract big-spending customers

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

New data in Roy Morgan’s Alcohol Retail Report shows supermarket alcohol retailers hold the largest market share (40.5%) of the total packaged alcohol market, increasing their share by 3.1% points compared to a year ago. They are followed by Supermarket Owned Standalone Retailers (35.6%), Independent Retailers (10.7%), Hotel Bottle Shops (7.8%), Wine Clubs (5.1%) and Duty Free (0.3%). Wine clubs have the most lucrative packaged alcohol customers, with the average wine club customer spending nearly $160 on packaged alcohol in an average week.

CORPORATES
ROY MORGAN INTERNATIONAL

Nearly 80% of Australians 70+ participate in sports & activities

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

Almost four out of five Australians aged 70+ participate in sports and activities (78.1%), according to research conducted by Roy Morgan. Walking for exercise is far and away the most popular activity, with 1,872,000 older Australians (66.4%) participating. Next is swimming, the choice of 418,000, or just over one-in-seven older Australians. The COVID-19 coronavirus pandemic has underscored the benefits of maintaining a healthy lifestyle in combating potentially fatal viruses and diseases. Roy Morgan has previously identified that 1.8 million Australians aged 70+ (65% of the age group) suffer from one of the illnesses shown to increase the risk of dying if COVID-19 is contracted. Roy Morgan CEO Michele Levine says the threat of COVID-19 has put the spotlight on the health and wellbeing of older Australians, so these findings are good news.

CORPORATES
ROY MORGAN LIMITED