PM warns rebels could cost election

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 24-Nov-21

The federal government remains divided over the issue of COVID-19 vaccine mandates by its state counterparts. The government is under pressure from senators Gerard Rennick and Alex Antic to take legislative action to override such mandates, and they have raised the prospect of voting against government bills in the final session of parliament for the year. Prime Minister Scott Morrison has told a party room meeting that the Coalition risks losing the 2022 election if the dissent within its ranks continues.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Forrest defends bid to axe diesel rebate

roymorgansocial Leave a comment

Original article by Nick Evans
The Australian – Page: 15 & 18 : 24-Nov-21

Fortescue Metals Group founder Andrew Forrest says the diesel fuel rebate costs taxpayers about $5bn a year at present. He adds that a small number of large mining and energy companies receive the bulk of the rebate, and he has urged the federal government to start phasing it out between 2025 and 2030. However, Forrest says the rebate should only be scrapped for large mining and energy companies, and it should be retained for farmers and other small business than rely upon it. The Mineral Council of Australia is among the critics of Forrest’s push to have the rebate scrapped.

CORPORATES
FORTESCUE FUTURE INDUSTRIES PTY LTD, MINERAL COUNCIL OF AUSTRALIA

Slow-motion tax reform threatens film industry

roymorgansocial Leave a comment

Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 24-Nov-21

Australia’s film and television industry is lobbying the federal government to increase the producer offset rate before parliament rises for the year. The offset was slated to rise from 20 per cent to 30 per cent from 1 July, and the industry has warned that some $400m worth of spending in the sector will be at risk if the legislation is not passed. Greens senator Sarah Hanson-Young has accused the government of attempting to "play political games" with the legislation, and called for it to be put before the Senate immediately.

CORPORATES
AUSTRALIAN GREENS

Rental affordability crisis looms as borders reopen

roymorgansocial Leave a comment

Original article by Michael Bleby
The Australian Financial Review – Page: 33 & 34 : 24-Nov-21

A report from JLL warns that demand for rental housing in Australia will exceed supply in the medium-term, as state and international borders reopen in the wake of the pandemic. Leigh Warner of JLL says there has been a lot of focus on housing affordability, but rental affordability is set to become a major issue. Demand for apartments in particular is expected to exceed supply in the next few years, with a seven per cent decline in pipeline of new projects during the September quarter.

CORPORATES
JONES LANG LASALLE AUSTRALIA PTY LTD

Atlas maps out iron-clad profit for a third year

roymorgansocial Leave a comment

Original article by John Stensholt
The Australian – Page: 18 : 24-Nov-21

Atlas iron has posted a 2020-21 net profit of $938m, which is 146 per cent higher than previously. The junior iron ore miner is owned by Gina Rinehart’s Hancock Prospecting, which paid $427m for the company in 2018. Atlas Iron’s revenue was up 66 per cent to $1.7bn, and its Mt Webber and Sanjiv Ridge mines shipped a combined 9.7 million tonnes of iron ore during the financial year. Shipments from the Sanjiv Ridge mine began in 2020-21. Rinehart’s Roy Hill mine recently posted a net profit of $4.4bn for the financial year.

CORPORATES
ATLAS IRON LIMITED, HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD

Australian alcohol consumption increases during 2021 – wine, beer, spirits and RTDs all up on a year ago

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 24-Nov-21

New data from Roy Morgan’s Alcohol Consumption Report shows that the proportion of Australians who drink alcohol increased by 3.5% points to 69.6% in the 12 months to September 2021. A total of 13,894,000 Australians (69.6%) aged 18+ consumed alcohol in an average four-week period in the year to September, up from 13,179,000 (66.4%) a year earlier. The number of Australians drinking wine increased from 8,539,000 (43.0%) to 9,263,000 (46.4%) – an increase of 3.4% points over the year. There were 7,138,000 Australians (35.7%) drinking beer, an increase of 0.5% points (+147,000) from a year earlier. In addition, there were 6,670,000 Australians (33.4%) drinking spirits in mid-2021, up from 6,121,000 (30.8%) a year earlier – an increase of 2.6% points. Also increasing was consumption of Ready-to-drinks (RTDs) which increased from 2,243,000 Australians (11.3%) to 2,745,000 (13.7%). The results were not as positive for other types of alcohol, with fewer Australians now drinking cider, liqueurs and fortified wines compared to a year ago. The findings are from the Roy Morgan Single Source survey, Australia’s most trusted and comprehensive consumer survey, derived from in-depth interviews with over 50,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED

Inflation Expectations up 0.1% points to 4.9% in November; highest for seven years since November 2014

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 24-Nov-21

In November 2021, Australians expected inflation of 4.9% annually over the next two years, up 0.1% points, and the highest Inflation Expectations since November 2014. Inflation Expectations are now 0.2% points above the long-term average of 4.7%, and 1.5% points higher than a year ago (3.4%) – the largest year-over-year increase in the index in the history of the series. A look at Inflation Expectations by Area shows a significant difference between how people in Capital Cities and Country Areas regard future price movements. Australians living in Capital Cities expect inflation of 4.7% annually over the next two years (up 1.6% points from the low of 3.1% in June 2020); those living in Country Areas expect far higher inflation, at 5.3% (up 2.1% points from June 2020). People in Country NSW expect inflation of 5.1% compared to 4.6% in Sydney, while in Country Victoria expected inflation is 5.5% compared to 4.9% in Melbourne. People in Country Queensland expect inflation of 5.8% (higher than any other Country Area or Capital City), compared to only 4.5% in Brisbane. The only exception to this trend is in South Australia; people in Adelaide expect inflation of 4.6%, compared to 4.2% in Country South Australia.

CORPORATES
ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence lifts 1.4pts to 107.4 as vaccination rates rise and restrictions continue to ease

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 24-Nov-21

ANZ-Roy Morgan Consumer Confidence rose 1.4pts to 107.4 on 20/21 November; it is below the 2021 weekly average of 108.2, but 2.9 points higher than the same week a year ago (104.5). Consumer Confidence was up in Victoria, Queensland and WA, while falling slightly in NSW and SA. Now 29% (unchanged) of Australians say their families are ‘better off’ financially than this time last year, while 26% (down 2ppts) say their families are ‘worse off’ financially. In addition, 37% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, and 17% (unchanged) expect to be ‘worse off’ financially. Some 18% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 20% (unchanged) expect ‘bad times’. Meanwhile, 39% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 28% (down 2ppts) say now is a ‘bad time to buy’.

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

Senate shoots down Bragg’s ABC complaints inquiry

roymorgansocial Leave a comment

Original article by James Madden
The Australian – Page: 4 : 24-Nov-21

A motion to suspend a Senate committee’s inquiry into the complaints handling processes of the ABC and SBS has been passed by one vote in the upper house. Three independent senators backed the motion that had been put forward by Labor and the Greens. The inquiry had been launched by Liberal senator Andrew Bragg, who says the ABC’s own independent inquiry into its complaints system is not as strong as the proposed Senate probe. The inquiry will be put on hold until after the federal election.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA

Netflix, Disney, Warner Bros sue telcos to block popular piracy websites

roymorgansocial Leave a comment

Original article by Matthew Elmas
The New Daily – Page: Online : 23-Nov-21

Major Hollywood studies including Disney and Netflix have launched legal action against ISPs such as Telstra and Optus, demanding that they block Australians from accessing 34 websites that are linked to illegal content. With Australia regarded as a global ‘hotspot’ for film piracy, Victoria University’s senior lecturer in screen media Marc C-Scott suggests that the legal action will attract a lot of interest around the world.

CORPORATES
WALT DISNEY COMPANY, NETFLIX INCORPORATED, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, VICTORIA UNIVERSITY