AUSTRALIA – POLITICS AND GOVERNMENT

Media chiefs eagerly await opportunities

roymorgansocial Leave a comment

Original article by Max Mason, Andrew Tillett
The Australian Financial Review – Page: 9 : 15-Sep-17

The Senate voted 31-27 to pass the Federal Government’s cross-media ownership reforms, prompting praise from industry leaders. Ten Network CEO Paul Anderson has welcomed the replacement of broadcast licence fees with a spectrum fee, noting that it will provide Ten with more money to invest in content. News Corp Australasia executive chairman Michael Miller says the reforms will provide media companies with greater certainty and encourage more investment in local communities.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NICK XENOPHON TEAM, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Whistleblowers to get percentage of penalties

roymorgansocial Leave a comment

Original article by Misa Han
The Australian Financial Review – Page: 11 : 15-Sep-17

Providing whistleblowers with financial rewards is among the recommendations of a joint parliamentary committee that is examining the issue of increased protection for whistleblowers. The committee has proposed that people who expose corrupt practices in the corporate sector should receive a proportion of the financial penalty imposed on the company. Lauren Witherdin of KPMG has downplayed the concerns of lawyers that a "bounty" system modelled on the US one would encourage people to make spurious allegations for financial gain.

CORPORATES
KPMG AUSTRALIA PTY LTD, NICK XENOPHON TEAM

Energy target not easy: PM

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 14-Sep-17

Prime Minister Malcolm Turnbull has expressed the importance of affordable and reliable baseload power in a clean energy target. The CET model that was recommended by Chief Scientist Alan Finkel did not designate clean coal as a clean energy source, but National Party leader Barnaby Joyce has indicated that the Government’s energy policy will include coal-fired power generation.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIAN LABOR PARTY, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, THE AUSTRALIAN INDUSTRY GROUP

Watchdog slams AGL on Liddell

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 6 : 14-Sep-17

The Australian Competition & Consumer Commission had opposed the sale of Macquarie Generation – which owned the Liddell and Bayswater power stations – to AGL Energy in 2014. ACCC chairman Rod Sims believes that the $A1.5bn deal has contributed to the rising cost of electricity, noting that the competition regulator had warned of this at the time. AGL is under growing scrutiny over its plans to shut down the Liddell power station in 2022. The Federal Government recently set a deadline of 90 days for AGL develop a plan to replace the ageing plant’s output of 1,000 megawatts.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, MACQUARIE GENERATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ORIGIN ENERGY LIMITED – ASX ORG, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. COMPETITION TRIBUNAL, VERTIUM ASSET MANAGEMENT, UBS HOLDINGS PTY LTD, ALCOA INCORPORATED

Bounties urged for evidence

roymorgansocial Leave a comment

Original article by Nassim Khadem, Adele Ferguson
The Age – Page: 1 : 14-Sep-17

The final report of a federal parliamentary inquiry has recommended increased legal protection for whistleblowers. Amongst other things, the joint parliamentary committee has proposed establishing a Whistleblower Protection Authority and providing financial payments or "bounties" for people who expose illegal conduct in the public or private sector. Under the proposed bounty system, a whistleblower who had participated in the criminal activity could potentially receive immunity from prosecution rather than a financial reward.

CORPORATES
AUSTRALIA. JOINT STATUTORY COMMITTEE ON CORPORATIONS AND FINANCIAL SERVICES, AUSTRALIA. DEPT OF FINANCE, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, CPR PARTNERS, FEDERAL COURT OF AUSTRALIA, ORIGIN ENERGY LIMITED – ASX ORG

Victory on media reform looms

roymorgansocial Leave a comment

Original article by Rosie Lewis
The Australian – Page: 1 & 6 : 14-Sep-17

The Federal Government has secured the support of enough Senate crossbenchers for its cross-media ownership reforms. The Nick Xenophon Team agreed to back the abolition of the "reach rule" and the "two-out-of-three rule" after negotiating a compromise. As part of the deal, the Government will establish an innovation fund that will provide grants to small and regional publishers, while it will also provide scholarships for people in regional areas to study journalism. The Government will also abolish broadcasting licence fees and trim the anti-siphoning list for sports events.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, ONE NATION PARTY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL DEMOCRATIC PARTY, AUSTRALIAN CONSERVATIVES, PRIVATE MEDIA PARTNERS PTY LTD, CRIKEY.COM.AU

‘Union-basher’ bill under fire

roymorgansocial Leave a comment

Original article by James Massola
The Sydney Morning Herald – Page: 6 : 13-Sep-17

ACTU secretary Sally McManus says the union movement will lobby Senate crossbenchers to vote against legislation aimed at cracking down on unions. Amongst other things, the Federal Government wants to subject union mergers to a public interest test and make it easier to deregister a union. McManus has described the reforms as an "attack on democracy", and she warns that they may breach the International Labour Organization’s convention regarding the right to organise and freedom of association.

CORPORATES
ACTU, INTERNATIONAL LABOUR ORGANIZATION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Deal to bring on media reform

roymorgansocial Leave a comment

Original article by Rosie Lewis
The Australian – Page: 1 & 8 : 13-Sep-17

Communications Minister Mitch Fifield has secured an agreement with the Nick Xenophon Team to support the Federal Government’s cross-media ownership reforms. The compromise deal includes measures aimed at ensuring media diversity, such as an innovation fund that will provide financial support for independent and regional news outlets. The Australian divisions of overseas-based media companies are not expected to be eligible for such funding. The reforms will require the support of the majority of Senate crossbenchers.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIAN CONSERVATIVES, LIBERAL DEMOCRATIC PARTY, THE GUARDIAN AUSTRALIA, CRIKEY.COM.AU

PM’s new baseload plan

roymorgansocial Leave a comment

Original article by Phillip Coorey, Ben Potter
The Australian Financial Review – Page: 1 & 4 : 13-Sep-17

The Federal Government has advised that its energy policy will have a focus on affordable and reliable baseload electric power generation, rather than a clean energy target. Prime Minister Malcolm Turnbull has indicated that Australia could meet its 2030 emissions reductions targets while retaining coal as part of the energy mix. He also says AGL Energy’s plan to replace the 1,000 megawatts of baseload generation of its Liddell power station cannot include renewable energy, arguing that they are not baseload. AGL has been given 90 days to develop a plan to replace the ageing power station’s output.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AGL ENERGY LIMITED – ASX AGL, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY

World builds coal plants faster than they shut

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 7 : 13-Sep-17

Analysis by the federal parliamentary library shows that 621 new coal-fired power generation units are under construction worldwide, including 299 in China. Countries with nuclear power generation, such as Japan, are also building new coal-fired power plants. National Party senator John Williams argues that transitioning to renewable energy in Australia will have no impact on global greenhouse gas emissions, as the new coal-fired power plants under construction overseas will generate more emissions than the nation as a whole.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF PARLIAMENTARY SERVICES. PARLIAMENTARY LIBRARY, THE AUSTRALIA INSTITUTE LIMITED, INTERNATIONAL ENERGY AGENCY