Oil Search sued for bullying CFO from job

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Original article by Jemima Whyte,Michael Roddan
The Australian Financial Review – Page: 1 & 8 : 17-Nov-21

Oil Search has advised that it will fully defend itself against allegations that its incoming CFO had been forced to resign due to bullying and harassment. Ayten Saridas joined Oil Search in August 2020 and was to succeed incumbent CFO Stephen Gardiner in 2021. However, she resigned after just four months and the oil and gas group, claiming that she had been subjected to bullying and harassment by both Gardiner and former CEO Keiran Wulff. The latter subsequently resigned in July; Oil Search attributed this to health reasons but said there had been several complaints about his conduct.

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OIL SEARCH LIMITED – ASX OSH

News Corp gives $1m to fire-hit communities

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Original article by Rhiannon Down
The Australian – Page: 3 : 17-Nov-21

The Rural & Remote Mental Health charity will receive a $1m donation from News Corp Australia to provide mental health support for people in regional areas that are still recovering from the Black Summer bushfires. News Corp Australia’s community ambassador Penny Fowler notes that while the media company had extensively supported the immediate recovery from the bushfires, the disaster is still having a significant mental health impact on many people in bushfire-affected communities. News Corp has now donated some $4.2m to Black Summer recovery programs.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD,NEWS CORPORATION – ASX NWS,RURAL AND REMOTE MENTAL HEALTH

Hi-tech race to combat China

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Original article by Geoff Chambers
The Australian – Page: 1 & 6 : 17-Nov-21

The federal government has identified nine priority technologies that will be accelerated under the AUKUS and Quadrilateral Security Dialogue alliances in response to China’s investment in quantum technology and artificial intelligence. These priorities include critical minerals, quantum technology, genetic engineering and cyber security. Prime Minister Scott Morrison will use a speech on Wednesday to emphasise that the AUKUS alliance is not just about nuclear submarines.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Nine boss doesn’t see need to buy WIN TV

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Original article by Miranda Ward
The Australian Financial Review – Page: 23 : 17-Nov-21

Nine Entertainment Company has ruled out following rival Seven West Media in seeking to acquire its regional television affiliate. Nine CEO Mike Sneesby says the media group is gaining significant benefits from its "very close commercial partnership" with WIN Corporation without the need to buy the regional affiliate. Nine recently revealed plans to integrate the two companies’ sales teams, just months after the new affiliation agreement began in mid-2021. Sneesby has also flagged a push to increase Nine’s digital presence across its business.

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NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC,NINE NETWORK AUSTRALIA LIMITED,WIN CORPORATION PTY LTD,SEVEN WEST MEDIA LIMITED – ASX SWM,PRIME MEDIA GROUP LIMITED – ASX PRT

Movement in the Brisbane CBD is at 81% of pre-pandemic levels; its highest level of movement since the pandemic began

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Nov-21

A special analysis of movement data in Australia’s Capital City CBDs since the COVID-19 pandemic began shows that movement in the Brisbane CBD has reached 81% of pre-pandemic levels in early November – its highest level since March 2020 when the pandemic began. Queensland has ramped up its vaccination drive in recent weeks as the State gets set to fully re-open its domestic borders to NSW, Victoria and the ACT in just over a month’s time. Meanwhile, the average 7-day movement level in the Sydney CBD was at 41% (up 8% points on a week earlier) of pre-pandemic levels in early November, while movement level in the Melbourne CBD was at to 36% (up 9% points on a week earlier) of pre-pandemic levels. Despite these low numbers these are the highest average movement levels in both city CBDs since late May 2021. The Adelaide CBD has returned to an average 7-day movement level of 94% of pre-pandemic levels – the highest level of movement since reaching a high of 98% during the Easter holidays in April 2021. Also performing well are the Capital Cities of two States that are yet to fully re-open to domestic travellers. The movement levels in the Perth CBD are now at 82% of pre-pandemic levels, while movement levels in the Hobart CBD are at 71% of pre-pandemic levels. Roy Morgan has partnered with leading technology innovator UberMedia to aggregate data from tens of thousands of mobile devices to assess the movements of Australians as we deal with the restrictions imposed in response to the COVID-19 pandemic.

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ROY MORGAN LIMITED,UBERMEDIA

ANZ-Roy Morgan Consumer Confidence drops 3pts to 106.0 as worries about inflation mount

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Nov-21

ANZ-Roy Morgan Consumer Confidence fell 3pts to 106.0 on 13/14 November; it is now below the 2021 weekly average of 108.2 and 0.6 points lower than the same week a year ago (106.6). This is the first time Consumer Confidence has dropped below its level of a year ago since late November 2020. Consumer Confidence this week was down in NSW, Victoria, Western Australia, South Australia and Tasmania, but there was a small increase in Queensland. Now 29% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year, while 28% (up 2ppts) say their families are ‘worse off’ financially. In addition, 38% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 17% (up 2ppts) expect to be ‘worse off’ financially. Some 20% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 20% (up 1ppt) expect ‘bad times’. Meanwhile, 39% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 30% (up 2ppts) say now is a ‘bad time to buy’.

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

Hazzard warning: Premier axes powers push

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Original article by Yoni Bashan
The Australian – Page: 4 : 17-Nov-21

The New South Wales government has abandoned plans to extend its COVID-19 emergency powers. Health Minister Brad Hazzard had proposed legislation to extend these powers until March 2023, but Premier Dominic Perrottet moved to drop the bill amid opposition within the Coalition partyroom. Amongst other things, some government MPs are believed to have feared a similar backlash to the Victorian Labor government’s controversial pandemic bill. NSW recorded 212 new locally-acquired COVID-19 cases on Tuesday, and two additional deaths from the current outbreak.

CORPORATES
NEW SOUTH WALES. MINISTRY OF HEALTH,NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

High (60.5%) approval of Premier Daniel Andrews rests on his handling of the COVID-19 pandemic

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Nov-21

A special Roy Morgan survey last week found that 60.5% of Victorian electors now approve of the way Premier Daniel Andrews is handling his job, although this is down 10.5% points from November 2020; some 39.5% (up 10.5% points) of Victorians disapprove of Andrews’ handling of the job. The approval of Andrews’ handling of his job is heavily correlated to age. A large majority of young Victorians aged under 35 (72%) approve of Andrews’ handling of the job, while only 28% disapprove. This strong approval declines progressively with age. Over two-fifths of those aged 35-49 (62.5%) and 50-64 (61%) approve of Andrews’ handling of the job, while this drops to only 55% of people aged 65+. The approval rating for Andrews amongst the genders match the figures for the two-party preferred voting support, with 65% of women approving of Andrews’ handling of his job compared to 55.5% of men. Analysing by voting intention shows just how widely divergent the views of supporters of the different parties are. A near unanimous 97% of ALP voters approve of Andrews’ handling of the job, and 84% of Greens supporters also approve. In contrast, only 16% of L-NP supporters approve of Andrews’ handling of the job; this drops to only 1.5% of supporters of Clive Palmer’s United Australia Party.

CORPORATES
ROY MORGAN LIMITED,VICTORIA. DEPT OF PREMIER AND CABINET,AUSTRALIAN LABOR PARTY,LIBERAL PARTY OF VICTORIA,NATIONAL PARTY OF AUSTRALIA,UNITED AUSTRALIA PARTY

Australia’s cash hoard grows 20pc to almost $100 billion

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Original article by James Eyers
The Australian Financial Review – Page: 17 & 20 : 17-Nov-21

Data from the Reserve Bank of Australia shows that $50 and $100 banknotes now comprise 73 per cent of banknotes in circulation, and 94 per cent by value. The RBA adds that demand for lower-value banknotes has been ‘subdued’ during the COVID-19 pandemic. The total value of Australian banknotes in circulation has risen to nearly $100bn since the start of the pandemic, and the RBA estimates that Australians are storing between $50bn and $75bn of this amount in cash rather than in financial institutions. The RBA concedes that low interest rates may be a key driver of this "hoarding". The trend may also reflect the strength of the black economy.

CORPORATES
RESERVE BANK OF AUSTRALIA

COVID testing firm kept $12m in JobKeeper cash amid soaring profits

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Original article by Clay Lucas
The Sydney Morning Herald – Page: Online : 11-Nov-21

Pathological group Australian Clinical Labs has been a beneficiary of both the federal government’s COVID-19 testing program and the JobKeeper wage subsidy. The company’s revenue increased by 29 per cent in 2020-21, while its after-tax profit rose from $11.7m to $88.7m. Australian Clinical Labs received JobKeeper payments totalling $34.3m over the last two financial years, but it repaid just $21.9m. Australian Clinical Labs’ annual report for 2020 notes that revenue fell sharply in the months immediately following the onset of the pandemic in March of that year, making the firm eligible for JobKeeper. The company also receives a government subsidy for every COVID-19 test it performs.

CORPORATES
AUSTRALIAN CLINICAL LABS LIMITED – ASX ACL