Facebook’s $7bn fine piques the interest of Privacy Commissioner

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Original article by Leo Shanahan
The Australian – Page: Online : 12-Aug-19

Australian Information and Privacy Commissioner Angelene Falk launched an investigation into Facebook Australia in 2018. This followed the latter revealing up to 311,000 Australians might have had their personal data "improperly shared" by Cambridge Analytica. Falk, who was a key adviser to ACCC chairman Rod Sims on his report into digital platforms and their impact on traditional media, says the investigation is a "matter of great priority" for her office. She notes with interest the recent $US7 billion fine that the US Federal Trade Commission imposed on Facebook in the wake of a number of privacy violations by it, including the Cambridge Analytica leak.

CORPORATES
AUSTRALIA. OFFICE OF THE AUSTRALIAN INFORMATION COMMISSIONER, FACEBOOK INCORPORATED, CAMBRIDGE ANALYTICA LLC, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UNITED STATES. FEDERAL TRADE COMMISSION

Resolution project still years away, says Rio boss

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Original article by Paul Garvey
The Australian – Page: Online : 12-Aug-19

Rio Tinto CEO Jean-­Sebastien Jacques says an investment decision on the Resolution copper project in the US state of Arizona could be as long as five years away. Rio owns a 55 per cent stake in the project, while BHP owns the remaining 45 per cent. The proposed Resolution mine would be one of the biggest and deepest mines in the US, and could potentially supply up to 25 per cent of that country’s demand for copper.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP

News Corp Australia revenues fall as advertising drops and subscriptions stay flat

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Original article by Ben Butler
The Guardian Australia – Page: Online : 9-Aug-19

Rupert Murdoch’s News Corporation has reported a profit of $US155 million ($228 million) for the year to June, compared to a loss of around $US1.5 billion for the previous corresponding period. The company’s News UK division recorded a revenue decline of 10 per cent in the last three months of 2018-19, while News Corp Australia’s revenue was down by seven per cent in the same period. Revenue from News Corp’s subscription division, which includes pay TV unit Foxtel and its on-demand sports service Kayo, was down 13 per cent for 2018-19.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD

Buyers brave winter chill as property market warms

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 8 : 12-Aug-19

Figures from CoreLogic indicate Sydney recorded a preliminary auction clearance rate of 81.2 per cent for the weekend of 10-11 August, while Melbourne recorded a preliminary auction clearance rate of 73.2 per cent. Nationally, the preliminary auction clearance rate came in at 70.4 per cent. Louis Christopher from SQM says the preliminary results suggest the residential real estate market is on the improve, while he expects listings to rise in the upcoming spring "selling season".

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

Michel’s Patisserie brewing its lead in coffee shop satisfaction ratings

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Aug-19

Michel’s Patisserie has continued its impressive winning streak by securing the Roy Morgan Coffee Shop of the Month Award for June 2019. In doing so, Michel’s Patisserie has established itself as the number one brand when it comes to pleasing their customers. Michel’s Patisserie received a satisfaction rating of 91%, which was a 6% increase from June 2018. It was followed by Donut King (87%), Gloria Jean’s (86%), The Coffee Club (85%) and Muffin Break (85%). Michel’s Patisserie has secured the number one position for a fifth straight month. Its ongoing lead in coffee shop satisfaction ratings has been assisted by a decline in ratings by Donut King, which has slipped 4% over the past twelve months. Roy Morgan CEO Michele Levine says that customer satisfaction is vital in the coffee shop industry because of high competition and easily substitutable goods. She notes if customers aren’t satisfied with their choice of coffee shop or cafe, they will simply walk away and try another.

CORPORATES
ROY MORGAN LIMITED, MICHEL’S PATISSERIE, DONUT KING, GLORIA JEAN’S COFFEES PTY LTD, THE COFFEE CLUB PTY LTD, MUFFIN BREAK PTY LTD

Union campaign forgot voters

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Original article by Ewin Hannan
The Australian – Page: 2 : 9-Aug-19

Former Labor executive Evan Moorhead has undertaken a review of the ACTU’s ‘Change the Rules’ campaign, which is estimated to have cost about $10m. The confidential review has concluded that the campaign did not resonate with voters because its policy objectives were too complex and it was ‘swamped’ by competing messages from the Coalition, Clive Palmer’s United Australia Party and Labor’s own election campaign. Moorhead also found that many union organisers did not fully embrace the ACTU campaign due to complacency that Labor would win the election.

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ACTU, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, UNITED AUSTRALIA PARTY

Chevron starts carbon storage

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Original article by Paul Garvey
The Australian – Page: 20 : 9-Aug-19

Chevron Corporation has commenced its carbon dioxide injection program at the Gorgon LNG project, two years behind schedule. The initiative is expected to reduce Gorgon’s carbon emissions by about 40 per cent, with some 100 million tonnes of carbon dioxide to be injected into rocks beneath Barrow Island over the life of the $US54bn ($79.74bn) project. Conservation Council of Western Australia director Piers Verstegen says Chevron should offset the carbon dioxide that it has emitted since March 2017, when the carbon dioxide injection program had been slated to begin.

CORPORATES
CHEVRON CORPORATION, CONSERVATION COUNCIL OF WESTERN AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Star boss breaks silence on tarnished Crown

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Original article by Natasha Gillezeau
The Australian Financial Review – Page: 20 : 9-Aug-19

Star Entertainment Group CEO Matt Bekier says junkets are an long-established feature of the gaming and wagering sector. The use of junkets by casino companies has been in the news recently, with media reports claiming that some of the ‘junket’ operators that Star rival Crown Resorts uses to entice Chinese ‘high-rollers’ to Australia have connections to organised crime. In terms of how Star uses junkets, Bekier says its investors can be confident it is doing the right thing.

CORPORATES
THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR, CROWN RESORTS LIMITED – ASX CWN

AGL eyes alternatives as Vocus off the table

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 & 20 : 9-Aug-19

AGL Energy has posted a 2018-19 net profit of $905m, which is 42.8 per cent lower than previously. Its underlying profit after tax rose by 2.2 per cent to $1.04bn. AGL has forecast that its profit will be within the range of $780m and $860m in 2019-20, citing factor such as lower electricity prices, higher fuel costs and the impact of an outage at its Loy Yang A generator in Victoria. Meanwhile, CEO Brett Redman says AGL remains open to expanding into the data services sector, despite abandoning a bid for Vocus Group earlier in 2019.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, VOCUS GROUP LIMITED – ASX VOC, PERTH ENERGY PTY LTD, VERTIUM ASSET MANAGEMENT PTY LTD, JP MORGAN AUSTRALIA LIMITED, CITIGROUP PTY LTD

Optus banks on EPL to boost subscribers

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Original article by Supratim Adhikari
The Australian – Page: 26 : 9-Aug-19

Optus’s sports streaming service currently boasts more than 700,000 subscribers, and the telco is optimistic that the new English Premier League season will attract more customers. Optus CEO Allen Lew notes that no EPL matches will broadcast on free-to-air networks during the new season; he adds that in addition to live streaming of all matches, Optus Sport will seek to deliver additional value to customers via its coverage of the EPL. Optus initially secured exclusive EPL rights in 2015, and its deal was renewed in 2018.

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SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE