Tax bounty brings record $22b surplus

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Original article by John Kehoe
The Australian Financial Review – Page: 5 : 22-Sep-23

The federal government will confirm on Friday that the budget surplus for 2022-23 was $22.1bn. This represents a significant turnaround from the $77.9bn deficit that former treasurer Josh Frydenberg had forecast in March 2022. It will also be the first surplus since 2007-08 and the first under a Labor government since Paul Keating was treasurer more than three decades ago. Treasurer Jim Chalmers says Labor has delivered a surplus while providing cost-of-living relief and investing in the long-term growth of the economy. The budget bottom-line was boosted by factors such as high commodity prices and rising income tax revenue due to a strong labour market.

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AUSTRALIA. DEPT OF THE TREASURY

Immunity for mates: PM’s Covid cop-out

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Original article by Geoff Chambers, Sarah Ison
The Australian – Page: 1 & 4 : 22-Sep-23

The federal government has been widely criticised over the limited scope of its commission of inquiry into the handling of the COVID-19 pandemic. Human Rights Commissioner Lorraine Finlay has questioned why the actions of state and territory governments during the pandemic will be excluded from the inquiry. She argues that this will make it harder to prepare for future pandemics. Opposition leader Peter Dutton has accused Prime Minister Anthony Albanese of prioritising the interests of Labor premiers over those of the general public. Dutton wants the inquiry to be given the powers of a royal commission, including the ability to compel people to give evidence.

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AUSTRALIAN HUMAN RIGHTS COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA

Big gas producers accused of predatory pricing

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Original article by Simon Johanson
The Age – Page: Online : 22-Sep-23

Energy Users Association of Australia CEO Andrew Richards has told a Senate inquiry into a new mandatory code of conduct for the gas industry that some of the sector’s behaviour can only be described as predatory. With the Association representing large commercial energy users, Richards told the inquiry that the code is essential to protecting businesses and households from what he contends is the gas industry’s unfair market power. The code currently covers gas producers selling into the wholesale market, but the inquiry was told it should be extended to cover gas retailers as well.

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ENERGY USERS ASSOCIATION OF AUSTRALIA

Rupert Murdoch steps down as chairman of Fox Corporation and News Corp

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Original article by Liana Walker
abc.net.au – Page: Online : 22-Sep-23

Media mogul Rupert Murdoch says the time is right for him to take on new roles at News Corp and Fox Corp. The 92-year-old has advised that he will formally step down as chairman of both companies at their AGMs in November. Murdoch will become Chairman Emeritus at both companies, and he emphasises that he will continue to take an active role in the "contest of ideas" at the media groups. His son Lachlan Murdoch will become the sole chairman of News Corp and continue in his role as executive chairman and CEO of Fox Corp. Rupert Murdoch says both himself and the companies he founded are in "robust health". However, he warns that the battle for freedom of speech and freedom of thought has never been more intense.

CORPORATES
NEWS CORPORATION – ASX NWS, FOX CORPORATION

Content quotas won’t guarantee another Bluey, says Ten boss

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Original article by Calum Jaspan
The Sydney Morning Herald – Page: Online : 22-Sep-23

The Ten Network recently rebranded its 10Shake secondary channel as Nickelodeon, a children’s-focused channel owned by US parent company Paramount that was previously broadcast on Foxtel. Paramount Australia’s chief content officer and co-vice president Beverley McGarvey says bringing Nickelodeon to free-to-air TV will give Australian children access to a larger range of content aimed at young audiences. McGarvey adds that imposing children’s content quotas would not result in another global hit like Bluey, arguing that the animated show’s success is due to the fact that it is brilliant rather than a content quota system.

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TEN NETWORK HOLDINGS LIMITED, NICKELODEON, PARAMOUNT GLOBAL

Deal activity dives as rates hit hard

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Original article by David Swan
The Australian – Page: 13 & 19 : 22-Sep-23

Data from Refinitiv shows that mergers and acquisitions involving Australians companies has totalled $US81.3bn so far in 2023, which is 27 per cent lower than at the same time in 2022. Investment banks’ advisory fees for completed M&A deal are 62 per cent lower than the same period in 2022, at $US354m. Underwriting fees for equity and debt capital market transactions have in turn fallen by 16 per cent and nine per cent respectively. Nick Sims from Goldman Sachs Australia expects deal-making activity to pick up for the remainder of 2023 and into 2024, in the absence of any macroeconomic or geopolitical shocks.

CORPORATES
REFINITIV AUSTRALIA PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD

First time winner Vaya wins the Best of the Best Award for Customer Satisfaction

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

Mobile phone service provider Vaya has won the Roy Morgan Customer Satisfaction ‘Best of the Best’ Award for the first time, just ahead of supermarket chain Aldi and liquor store chain Dan Murphy’s. The ‘Best of the Best’ award goes to the company that achieved the highest customer satisfaction of all 40 winners in the Annual Roy Morgan Customer Satisfaction Awards. Vaya is the first mobile phone service provider to win the prestigious award. The victory for Vaya was built on the back of eight straight monthly victories in the Mobile Phone Service Provider of the Year category from January to August 2022. Vaya had customer satisfaction of 96.3% in 2022 to beat Supermarket of the Year Aldi by the barest of margins.

CORPORATES
ROY MORGAN LIMITED, VAYA PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, DAN MURPHY’S

Roy Morgan unveils Annual Customer Satisfaction Award winners for 2022 across all categories

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

Roy Morgan has announced the winners of its annual Customer Satisfaction Awards for Australia. The awards recognise outstanding levels of customer satisfaction, as judged by more than 60,000 consumers via the Roy Morgan Single Source survey. The award categories cover sectors such as banking, insurance, superannuation, automotive, retail, telecommunications and utilities. Of the 40 award winners this year, 19 are repeat winners backing up from a victory a year ago. There are also 21 new winners, including first-time winners Vaya, Skoda, Zambrero and CommInsure, while former winners such as Virgin Australia, Red Energy and Chemist Warehouse have returned to the winner’s circle. Roy Morgan CEO Michele Levine says the Annual Customer Satisfaction Awards are the gold standard in identifying those companies and brands that stay ahead of the pack by knowing what their customers want and delivering it consistently.

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ROY MORGAN LIMITED

Yes campaign not separatism

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Original article by Paige Taylor, Rosie Lewis
The Australian – Page: 1 & 5 : 20-Sep-23

Indigenous leader Noel Pearson has rejected claims that the proposed Voice to parliament is about separatism. He argues that the ‘Yes’ campaign is about "bringing the country together" so that First Nations people can have their own identity, culture and languages while still taking their place in Australian society. Pearson added that Indigenous people will have a "special but not separate place in Australia" if the Voice referendum is passed, echoing the words of former prime minister John Howard in a speech on constitutional recognition in 2007. Pearson also emphasised that there will be no return to a policy of assimilation for Indigenous Australians.

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Labor gets to work on jobs plan

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Original article by Joe Kelly
The Australian – Page: 4 : 20-Sep-23

Treasurer Jim Chalmers say the federal government’s employment white paper will outline Labor’s vision for a more "dynamic and inclusive labour market". The white paper to be released on Monday will outline five key objectives, including sustained full employment, productivity growth and sustainable wage growth. The ACTU used its submission to the white paper to call for a target of zero involuntary unemployment. The terms of reference for the employment white paper were released following the jobs and skills summit in 2022.

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AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, ACTU