More IR changes make bad bill worse

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 4 : 29-Nov-23

The federal government tabled 81 amendments to its Closing Loopholes Bill in the lower house on Tuesday. Australian Industry Group CEO Innes Willox and Minerals Council of Australia CEO Tania Constable have expressed concern about some of the amendments, with the latter contending that they will broaden the union movement’s powers with regard to the ‘same job, same pay’ provisions. However, Workplace Relations Minister Tony Burke has described the amendments as "practical reforms".

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AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, THE AUSTRALIAN INDUSTRY GROUP, MINERALS COUNCIL OF AUSTRALIA

Union bosses demand cost-of-living relief as PM flags further measures

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Original article by Paul Sakkal
The Age – Page: Online : 29-Nov-23

Prime Minister Albanese has told Labor MPs that the cost-of-living crisis has been at the top of the federal government’s top agenda, but he acknowledged that it must do more to assist households in the next year. ACTU secretary Sally McManus and the CFMEU’s national secretary Zach Smith have urged the government to make cost-of-living relief a priority; the latter has advocated measures such as a super profits tax on big business and short-term measures such as cutting the fuel excise or subsidising energy bills.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, ACTU, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Households coping well, says Bullock

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Original article by Michael Read
The Australian Financial Review – Page: 1 & 6 : 29-Nov-23

Reserve Bank of Australia governor Michele Bullock addressed an international conference in Hong Kong on Tuesday. She told the audience – which included a number of central bankers – that Australian households and businesses are in a "pretty good position", despite the "political noise" regarding the RBA’s 13 interest rate increases since May 2022. Bullock also conceded that the RBA’s goal of returning inflation to its target range of 2-3 per cent by the end of 2025 is "very uncertain". Her predecessor Philip Lowe told the conference that he is concerned that central banks may not yet have lifted interest rates far enough to rein in inflation.

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RESERVE BANK OF AUSTRALIA

Free-to-air TV beats streaming giants for events

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Original article by Zoe Samios, Sam Buckingham-Jones
The Australian Financial Review – Page: 21 : 29-Nov-23

The federal government will shortly introduce a bill giving effect to its ‘prominence’ framework for local broadcasters. The legislation will require manufactures of smart TVs to prominently display the channels and apps of free-to-air networks on their interfaces. Streaming companies often pay to have their apps appear in prime positions on connected TV interfaces. The legislation will also include changes to the anti-siphoning rules for major sports events, with free-to-air networks to be given priority in discussions regarding broadcast deals. The government also intends to add women’s sports and para-sports to the anti-siphoning list.

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Black Friday sales hit record high

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Original article by Eli Greenblat
The Australian – Page: 13 & 19 : 29-Nov-23

The Australian Retailers Association recently forecast that consumers will spend $6.36bn across the Black Friday/Cyber Monday weekend. Data showing that retail sales fell by a seasonally 0.2 per cent in October suggests that many consumers had delayed their spending in order to take advantage of the increasingly popular four-day sales event. Retailers are also believed to have offered larger Black Friday/Cyber Monday discounts of up to 30 per cent, compared with about 26 per cent in 2022. Meanwhile, the National Retail Association’s director Rob Godwin says Christmas sales will be a "make-or-break" period for many retailers.

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AUSTRALIAN RETAILERS ASSOCIATION, NATIONAL RETAIL ASSOCIATION LIMITED

WA lithium mine pauses production

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Original article by Peter Ker, Brad Thompson
The Australian Financial Review – Page: 19 : 29-Nov-23

Mineral Resources has advised that mining operations at the Wodgina hard rock lithium mine in the Pilbara has resumed following a fire at its processing plant on 24 November. However, Mineral Resources says that processing of spodumene rock is still on hold and it is uncertain as to when this will resume. However, the company does not expect the temporary suspension to have any impact on shipments. It also says the cause of the fire is still being investigated. Wodgina is the world’s third-largest hard rock lithium mine.

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MINERAL RESOURCES LIMITED – ASX MIN

Readership of magazines is up 3.5% from a year ago with increases in readership for all magazine categories

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Nov-23

The Roy Morgan Australian Readership report for the 12 months to September 2023 shows that 11.6 million Australians aged 14+ (53.0%) now read print magazines, up 3.5 per cent on a year ago. This market broadens to 15.1 million Australians aged 14+ (69.2%) who read magazines in print or online either via the web or an app, which is virtually unchanged from a year ago. Print readership increased for 14 magazine categories compared to a year ago; the final pandemic-era restrictions were lifted by October 2022. Eight of the top 10 magazines increased their print readership over the past year, as did 20 out of the top 25 titles. Better Homes & Gardens is still Australia’s most widely read paid magazine with print readership of 1,805,000, up 10.9 per cent on a year ago, ahead of the Australian Women’s Weekly on 1,336,000 (up 8.3 per cent). These are the latest findings from the Roy Morgan Single Source survey of 65,331 Australians aged 14+ in the 12 months to September 2023.

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ROY MORGAN LIMITED

US miner plotting Australian rare earths processing plant

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 29-Nov-23

US-based mineral sands producer Tronox may build a rare earths processing plant in Western Australia. The company has approached the state government about the plant, which would process a waste by-product of mineral sands mining known as monazite. Tronox proposes to stockpile monazite in WA for 3-5 years to use as feedstock for the plant, while sources have suggested that it may also import monazite from its South African operations to be processed. Tronox has mineral sands mines in WA and NSW. Iluka Resources is also building a plant to process monazite that it has been stockpiling for three decades.

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TRONOX INCORPORATED

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 74.7 this week as buying intentions improve ahead of the Black Friday/Cyber Monday weekend

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Nov-23

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 74.7 in the week to 19 November; however, it has now spent a record 42 straight weeks below the mark of 85. Consumer Confidence is 6.9pts below the same week a year ago (81.6), and clearly below the 2023 weekly average of 77.9. Consumer Confidence was up in Victoria, South Australia and Western Australia, virtually unchanged in New South Wales, and down slightly in Queensland. Now 19% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 55% (up 1ppt) say their families are ‘worse off’ financially. Only 6% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 42% (up 2ppts) expect ‘bad times’. Meanwhile, 19% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 52% (down 3ppts) say now is a ‘bad time to buy’.

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

50 Commonwealth Games bureaucrats still being paid

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Original article by Shannon Deery, Alex White
Herald Sun – Page: Online : 22-Nov-23

The Victorian government is continuing to attract scrutiny over its controversial decision in July to withdraw from hosting the 2026 Commonwealth Games. It has been revealed that the government has yet to finalise exit packages for about 50 staff who were employed to organise the Games; sources say they will continue to be paid until 29 January, which is the deadline for them to ­decide whether to accept an exit package. The Games staff say they have been placed on ‘gardening leave’. The manager of opposition business James Newbury says Premier Jacinta Allan holds the gold medal for wasting taxpayers’ money. Allan was the minister responsible for the Commonwealth Games.

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VICTORIA. DEPT OF PREMIER AND CABINET