AUSTRALIA – POLITICS AND GOVERNMENT

PM heads off revolt by Nationals

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-Feb-19

The National Party is very unhappy over the federal government’s shelving of legislation that would allow the forced divestment of energy companies’ assets. It is understood that some Nationals MPs were prepared to cross the floor of the House of Representatives and vote against the government on small business legislation. The government has moved to placate the Nationals by agreeing to support amendments to the legislation that will make it easier for smaller businesses to sue larger companies. The government has also indicated that it will support a Labor/Greens motion calling for a royal commission into the treatment of the disabled.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AGL ENERGY LIMITED – ASX AGL

‘Time to pounce’: Investors rush to beat change

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Original article by Ingrid Fuary-Wagner
The Australian Financial Review – Page: 9 : 18-Feb-19

Real estate investors are preparing to acquire established properties in the event that Labor wins the upcoming federal election. Labor intends to abolish negative gearing on established properties, although it will still allow it for newly-built homes. However, any such changes would be unlikely to take effect until 1 July 2020. Victor Kumar of Right Property Group says he would expect to see a big increase in sales of established properties in the period between the election and when any legislation takes effect.

CORPORATES
AUSTRALIAN LABOR PARTY, RIGHT PROPERTY GROUP

South32 warns of strike risk if ALP wins poll

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Original article by Brad Thompson
The Australian Financial Review – Page: 13 & 18 : 18-Feb-19

South32 CEO Graham Kerr is concerned that Labor’s workplace reform agenda could lead to increased industrial action, particularly in the resources sector. He says the outcome of the upcoming federal election could affect business confidence for at least 12 months. Kerr notes that stability of supply is a major priority for buyers of Australia’s metallurgical coal buyers. He adds that if supply is disrupted they will source coal elsewhere, and it is very hard to regain a customer’s trust once it has been lost. Employers’ groups are also concerned about any move to reinstate industry-wide bargaining.

CORPORATES
SOUTH32 LIMITED – ASX S32, AUSTRALIAN LABOR PARTY, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, TAHMOOR COAL PTY LTD, CENTENNIAL COAL COMPANY LIMITED, WOLLONGONG COAL LIMITED – ASX WLC, PEABODY ENERGY AUSTRALIA COAL PTY LTD, PORT KEMBLA COAL TERMINAL LIMITED

Leak came from union watchdog

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Original article by Patrick Durkin, Andrew Tillett
The Australian Financial Review – Page: 6 : 15-Feb-19

Senator Michaelia Cash is due to give evidence in the Federal Court on 15 February in a case brought by the Australian Workers’ Union. She is expected to be asked to respond to allegations by her former chief-of-staff Ben Davies that he was tipped off about an Australian Federal Police raid on AWU offices by former Registered Organisations Commission media adviser Mark Lee. The AWU contends that a ROC investigation into donations made by it to GetUp and Labor leader Bill Shorten is "politically motivated" and legally invalid.

CORPORATES
AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, AUSTRALIAN LABOR PARTY

Business bashing poll on the cards

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 15-Feb-19

Prime Minister Scott Morrison has accused Labor of siding with large energy companies over its role in having the federal government withdraw legislation to force them to sell assets if they fail to reduce electricity prices. With the Greens having secured the consent of Labor and six crossbenchers to have the legislation amended so that the government could not subsidise new coal-fired power stations, the government withdrew it, knowing that it would have been defeated in the House of Representatives. The government will now take the legislation, which has been attacked by energy companies and big business, to the upcoming election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AGL ENERGY LIMITED – ASX AGL, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN ENERGY COUNCIL

Small business faces $8bn holiday pay hit

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Original article by Dennis Shanahan
The Australian – Page: 1 & 4 : 15-Feb-19

Labor’s motion to disallow the Fair Work Amendment (Casual Loading Offset) Regulations is expected to be debated by the Senate on 2 April. The Coalition moved to clarify the status of casual workers via regulation in late 2018 in response to the WorkPac case, in which the Federal Court ruled that casual workers are entitled to annual leave in addition to a casual loading. Australian Industry Group CEO Innes Willox has urged parliament to reject the disallowance motion, warning that it would threaten the viability of many small businesses.

CORPORATES
AUSTRALIAN LABOR PARTY, WORKPAC PTY LTD, FEDERAL COURT OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, ACTU, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Raid leak designed to damage Shorten

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Original article by Ewin Hannan
The Australian – Page: 2 : 14-Feb-19

David De Garis has told the Federal Court that he cannot recall if he told Michaelia Cash that he intended to give the media advance notice of police raids on the offices of the Australian Workers’ Union. However, Cash’s former media adviser revealed that he had not acted alone, stating that he leaked details of the raids in partnership with Michael Tetlow, who was the media adviser to former justice minister Michael Keenan at the time.

CORPORATES
FEDERAL COURT OF AUSTRALIA, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY

Follow-up to bank probe

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Original article by John Kehoe, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 14-Feb-19

Labor’s push to recall parliament for an additional two weeks in March seems unlikely to succeed after three crossbenchers signalled that they will oppose the motion. Meanwhile, the federal government has told banks and industry regulators that it will hold another inquiry in three years’ time to make sure that the misconduct exposed by the financial services royal commission is not being repeated. Labor in turn has proposed harsher penalties for misconduct in the sector.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN BANKING ASSOCIATION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC

Morrison ramps up border protection blitz

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Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 1 & 6 : 14-Feb-19

Prime Minister Scott Morrison has committed to repealing the medivac legislation if the Coalition wins the 2019 election and has sufficient numbers in parliament to do so. The federal government will strengthen its border protection policies – including re-opening the detention centre on Christmas Island – in the wake of its historic defeat over the medivac bill. Labor has downplayed concerns that the medivac legislation will prompt a new wave of asylum-seekers, stressing that it applies solely to refugees who are currently on Manus Island and Nauru.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN BORDER FORCE

Cash forced to explain union raids evidence

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Original article by Ewin Hannan, Tessa Akerman
The Australian – Page: 4 : 13-Feb-19

Following police raids on the offices of the Australian Workers’ Union in October 2017, Senator Michaelia Cash told a Senate estimates hearing that no member of her staff had prior knowledge of the raids. However, her former media adviser David De Garis has told the Federal Court that Ben Davis – who was Cash’s chief-of-staff at the time – had informed him of the raids several hours before they occurred. De Garis later resigned after admitting that he had leaked details of the raids to the media.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, FEDERAL COURT OF AUSTRALIA