Roy Morgan Business Confidence down 2.7pts to 120.5 in January – Majority of businesses expect good times for the next 12 months

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Feb-21

In January 2021, Roy Morgan Business Confidence was down 2.7pts (-2.2%) to 120.5 – the first decline in the index since August 2020, after four straight months of gains. Despite the fall Business Confidence is now 7.1pts above the long-term average of 113.4, and 18.9pts higher than it was a year ago (101.6). A clear majority of 61.7% of businesses expect ‘good times’ for the Australian economy over the next 12 months, and 52.9% of businesses said the next 12 months is a ‘good time to invest in growing the business’. On a State-based level Business Confidence is higher in all States than a year ago and significantly higher in NSW, Victoria, WA and SA – up by at least 15% in all four States compared to January 2020. Business Confidence is now highest in Western Australia at 140.6 in January and has increased by 27.6pts (+24.5%) from a year ago. Victoria is also in a far better position than a year ago according to the State’s businesses, with Business Confidence up 25.1pts (+25.5%) to 123.7. In 2021 Business Confidence in both New South Wales, up 18.8pts (+18.7%) to 118.9 and South Australia, up 26.7pts (+29%) to 118.7 is starting the year in a much stronger position than 2020.

CORPORATES
ROY MORGAN LIMITED

Work Aussies won’t do: market mismatches

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Original article by Matthew Cranston
The Australian Financial Review – Page: 4 : 8-Feb-21

The federal government has convened an inquiry into Australia’s skilled migrant program, to be headed by the Liberal Party’s Julian Leeser. One aspect of the program it will look at is whether any adjustments are needed in the light of the recovery from the COVID-19 pandemic and the future of work. The inquiry comes as employers say they are struggling to find Australians who are willing to do certain jobs; it has been suggested that visas for overseas workers should be rolled over so that they do not have to return to their own country when their visa expires. Welfare programs such as JobKeeper and JobSeeker are also seen as a constraint on employment by some employers.

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LIBERAL PARTY OF AUSTRALIA

Unemployment down to 11.7% in January – lowest since March 2020, but under-employment increases again

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Feb-21

The latest Roy Morgan employment series data shows that 1.68 million Australians (11.7% of the workforce) were unemployed in January 2021 (down 44,000 on December). In addition, 1.44 million Australians (10.0% of the workforce) were under-employed – working part-time but looking for more work. This was an increase of 81,000 on a month ago and an increase of 154,000 over the last two months. Meanwhile, some 12,675,000 Australians were employed in January (up 26,000 from December). The rise in employment was driven by an increase in full-time employment, up 46,000 to 8,197,000; part-time employment was down 20,000 to 4,478,000. Roy Morgan’s unemployment figure of 11.7% for January is over 5% points higher than the current ABS estimate for December 2020 of 6.6%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Fair Work president resists Porter IR plan

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Original article by Ewin Hannan
The Australian – Page: 1 & 5 : 8-Feb-21

Industrial Relations Minister Christian Porter has rejected criticism of the federal government’s proposal for the Fair Work Commission to approve enterprise agreements within 21 days. FWC president Iain Ross has argued that this requirement is unnecessary and could result in unintended consequences, such as giving approval to workplace agreements that are subsequently found to contain technical or substantive defects. Justice Ross also warns that more applications for enterprise agreements may be withdrawn or rejected under the proposed reforms. The Senate will begin an inquiry into the omnibus industrial relations bill on 8 February.

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AUSTRALIA. DEPT OF EDUCATION, SKILLS AND EMPLOYMENT, AUSTRALIA. FAIR WORK COMMISSION

Rod Sims’ big tech fixation blinds him to Murdoch’s monopoly

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Original article by Kevin Rudd
The Australian Financial Review – Page: 39 : 8-Feb-21

Rupert Murdoch’s News Corporation controls 70 per cent of print readership in Australia, and his power is arguably set to increase under the Australian Competition & Consumer Commission’s proposed news media bargaining code. ACCC chairman Rod Sims has become so fixated about new digital technology monopolies that he seems to have forgotten about Murdoch’s existing one. The code will see Google and Facebook compelled to pay for Fox News-style clickbait, while it is high time there was a royal commission to look at both existing and new media monopolies.

CORPORATES
NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, FOX NEWS, SKY NEWS

Media at ‘pivotal moment’: News

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Original article by James Madden
The Weekend Australian – Page: 21 & 22 : 8-Feb-21

News Corporation has posted net income of $US261m ($343.4m) for the December 2020 quarter, compared with $US103m for the same period in 2019. The global media company’s EBITDA rose 40 per cent year-on-year to $US497m. Revenue fell three per cent to $US2.41bn year-on-year, although it rose from $US2.12bn in the September quarter. News Corp’s subscription video services rose by 77 per cent to $US124m. News Corp CEO Robert Thomson says the push for greater regulation of digital platforms in Australia and worldwide represents a pivotal moment for the global media industry.

CORPORATES
NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD

The three most likely: Nine’s search for new CEO narrows

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Original article by Lilly Vitorovich, James Madden
The Australian – Page: 19 : 8-Feb-21

Nine Entertainment Company is widely tipped to appoint an internal candidate to succeed Hugh Marks as CEO. Oscar Oberg of Wilson Asset Management and Brian Han of Morningstar both expect either Nine’s head of publishing Chris Janz or Stan CEO Mike Sneesby to get the job. However, Carl Fennessy of Endemol Shine Australia is believed to be the leading external candidate to replace Marks, who has stepped down in the wake of revelations of his relationship with a junior executive.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WILSON ASSET MANAGEMENT, STAN ENTERTAINMENT PTY LTD, ENDEMOL SHINE AUSTRALIA PTY LTD

Iluka adds rare earths to mineral sands for a bigger bang

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Original article by Brad Thompson
The Australian Financial Review – Page: 14 & 20 : 8-Feb-21

Australian mineral sands producer Iluka Resources is seeking to expand into the rare earths sector. The company is hinting that it wants to become an integrated producer of heavy and light rare earth oxides, with the next step in its rare earths goals involving spending $35 million to boost the product from its mineral sands mine at Enebba in Western Australia to a 90 per cent concentrate. It could consider sending this concentrate to Lynas Rare Earths’ cracking and leaching plant in Kalgoorlie. Goldman Sachs has suggested that Iluka is capable of developing the first fully integrated rare earths operation on Australian soil by 2025 at a cost of around $1.2 billion.

CORPORATES
ILUKA RESOURCES LIMITED – ASX ILU, LYNAS RARE EARTHS LIMITED – ASX LYC, GOLDMAN SACHS AUSTRALIA PTY LTD

Vaccination certificates needed for travel, work and play

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Original article by Josh Butler
The New Daily – Page: Online : 8-Feb-21

The federal government has revealed plans to issue digital COVID-19 vaccination certificates via the MyGov website and the Medicare app, while a hardcopy certificate of vaccination will be available from Services Australia. Government Services Minister Stuart Robert has indicated that proof of vaccination is likely to be required to travel overseas, while international visitors will also need proof that they have been vaccinated in order to enter Australia. He adds that the states and territories may also require proof of vaccination in some circumstances, such as to access some workplaces.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SERVICES AUSTRALIA PTY LTD

Released traveller tests positive for coronavirus in NSW

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Original article by Nicholas Jensen
The Australian – Page: 5 : 8-Feb-21

New South Wales health officials have advised that a returned traveller from the Wollongong region has tested positive for COVID-19 two days after leaving hotel quarantine. The returned traveller returned two negative tests and had no symptoms of the coronavirus during their 14-day quarantine period. The infection was detected via the state government’s ‘day 16’ testing regime. The person is believed to have contracted the virus before returning to Australia. It is the first case of COVID-19 in NSW outside of hotel quarantine for 21 days.

CORPORATES
NEW SOUTH WALES. MINISTRY OF HEALTH