AUSTRALIA – POLITICS AND GOVERNMENT

PM wins an AAA-rating for his responsible approach to stimulus

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Original article by Patrick Commins
The Australian – Page: 6 : 28-Nov-19

S&P Global Ratings has praised the federal government’s commitment to a balanced Budget rather than pursuing stimulus measures. The ratings agency has warned that any fiscal stimulus that led to a change in the trajectory of the Budget could jeopardise Australia’s coveted triple-A credit rating. Anthony Walker, S&P’s director of sovereign ratings, has also warned that fiscal stimulus is likely to affect the nation’s ability to respond to future unforeseen economic shocks.

CORPORATES
S&P GLOBAL RATINGS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA

Labor may revive negative gearing

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Original article by Phillip Coorey
The Australian Financial Review – Page: 8 : 27-Nov-19

Shadow housing minister Jason Clare has warned that the housing affordability crisis has not eased since Labor lost the 18 May election, adding that it may get worse. He has raised the prospect that Labor could go into the next federal election with a modified version of its proposed changes to the capital gains and negative gearing regimes that were rejected by voters in May.

CORPORATES
AUSTRALIAN LABOR PARTY, MASTER BUILDERS AUSTRALIA INCORPORATED

Farmer revolt over China Mengniu’s Lion Dairy bid

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Original article by Sue Mitchell, John Kehoe
The Australian Financial Review – Page: 1 & 16 : 26-Nov-19

Some federal politicians have expressed concern about China Mengniu Dairy Company’s proposed acquisition of milk processor Lion Dairy & Drinks. Labor senator Kim Carr says the $600m deal should be subject to a number of conditions to ensure that jobs and processing facilities in regional areas are protected. Nationals MP Barnaby Joyce is concerned about China’s "creeping acquisition" of dairy-related assets in Australia, while independent MP Andrew Wilkie says ownership of Australia’s leading brands is becoming increasingly concentrated. Farmers say the deal should be conditional on a floor price for the farm gate price of milk.

CORPORATES
LION-DAIRY AND DRINKS PTY LTD, CHINA MENGNIU DAIRY COMPANY LIMITED, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, KIRIN HOLDINGS COMPANY LIMITED, DAIRY CONNECT LIMITED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, SAPUTO INCORPORATED

Spy claim for asylum draws wary response

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Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 4 : 26-Nov-19

Prime Minister Scott Morrison says allegations about China’s attempts to interfere in federal politics are "deeply disturbing and troubling". However, he has stressed the need to wait until ASIO concludes an investigation into the claims that Chinese intelligence services offered to fund the federal election campaign of Melbourne car dealer Bo Zhao. A separate claim by Wang Liqiang about Chinese interference in federal politics is also under scrutiny. China has refuted his claim to have been a member of its military intelligence service. Wang is seeking asylum in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIA. DEPT OF HOME AFFAIRS

Hanson not sold on union bill

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Original article by Ewin Hannan
The Australian – Page: 4 : 25-Nov-19

Centre Alliance senator Rex Patrick has indicated that he will support the federal government’s Ensuring Integrity Bill. He says unions are "very useful organisations" that stand up for workers’ rights, but stresses that they are not above the law. The bill now only requires the support of One Nation or independent senator Jacqui Lambie. One Nation leader Pauline Hanson says her party will consider the government’s final amendments to the bill and consult with unions before deciding its stance.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, ACTU

Activist threat to blockade airport

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Original article by Joe Kelly
The Australian – Page: 1 & 4 : 25-Nov-19

Extinction Rebellion has demanded immediate action on climate change in the wake of the recent bushfires. The climate activist group has warned that federal MPs will be prevented from accessing Canberra airport when parliament rises for the year on 5 December unless they take action to shut down the fossil fuel industry and adopt a target of net zero emissions by 2025. Shadow resources minister Joel Fitzgibbon says the latter demand would destroy the Australian economy. The proposed blockade has also been criticised by Liberal-National Party MPs Michelle Landry and Keith Pitt.

CORPORATES
EXTINCTION REBELLION, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Convene COAG over disasters: Albanese

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Original article by Joe Kelly
The Australian – Page: 4 : 25-Nov-19

Labor leader Anthony Albanese has called for an emergency meeting of the Council of Australian Governments in the wake of deadly bushfires. He says the agenda for a COAG meeting should include Australia’s preparedness for natural disasters, the development of an action plan on adaptation to climate change, and increased investment in research on natural disaster response, recovery and mitigation. The federal government will provide grants of up to $15,000 to assist farmers and small businesses to recover from the recent bushfires in New South Wales.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Westpac execs still in the money

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Original article by Richard Gluyas, Joe Kelly
The Australian – Page: 1 & 2 : 25-Nov-19

Treasurer Josh Frydenberg has stressed the need for accountability over Westpac’s massive breach of anti-money laundering and counter-terrorism financing laws. He notes that in addition to Austrac’s civil prosecution, there is the potential for Westpac executives and directors to be disqualified under the Banking Executive Accountability Regime. Meanwhile, Westpac chairman Lindsay Maxsted says executives’ short-term bonuses will be frozen; however, their long-term bonuses are not expected to be affected. Other measures taken by Westpac in response to the scandal include shutting down the LitePay international fund transfer network.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Catalano takes aim at irrelevant rules restricting rural TV

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Original article by John Stensholt
The Australian – Page: 24 : 25-Nov-19

Antony Catalano contends that a rule which limits media companies to one TV broadcasting licence in a single market is "antiquated" and "completely outdated". He notes that the so-called ‘one-in-a-market rule’ does not apply to radio stations, newspapers or news websites. Catalano adds that he has discussed the issue with Communications Minister Paul Fletcher and is prepared to launch a campaign for reform via Australian Community Media if the federal government does not take action. Catalano and Alex Waislitz bought the regional newspaper business earlier in 2019.

CORPORATES
AUSTRALIAN COMMUNITY MEDIA, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

One Nation backtracks on unions

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 5 : 22-Nov-19

The federal government is expected to release proposed amendments to the Ensuring Integrity Bill on 22 November. It is believed to have backed Centre Alliance’s proposal for a demerit points system for unions and officials who breach workplace laws, as well as amendments put forward by One Nation. However, One Nation has withdrawn proposed amendments that would have allowed unions to be deregistered over unprotected industrial action that could have a ‘substantial adverse effect’ on the economy.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, CENTRE ALLIANCE, ONE NATION PARTY, ACTU, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA