AUSTRALIA – POLITICS AND GOVERNMENT

Energy chiefs forced to reveal cheaper plans

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Original article by Mark Ludlow, Angela Macdonald-Smith
The Australian Financial Review – Page: 5 : 10-Aug-17

Prime Minister Malcolm Turnbull has secured an in-principle agreement with the CEOs of seven major power retailers to address the rising cost of electricity. Electric utilities will be required to disclose to customers on discount plans how much they will pay if they do not switch to an alternative plan when the discount period ends. The Australian Energy Market Commission estimates that the electricity contracts of about 50 per cent of customers have expired. Snowy Hydro CEO Paul Broad notes that some consumers miss out on lower rates because they simply never switch electricity suppliers.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN ENERGY MARKET COMMISSION, SNOWY HYDRO LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, ORIGIN ENERGY LIMITED – ASX ORG, AGL ENERGY LIMITED – ASX AGL, POWERSHOP AUSTRALIA PTY LTD, RED ENERGY PTY LTD, LUMO ENERGY AUSTRALIA PTY LTD, AUSTRALIAN ENERGY COUNCIL

$1m poll could do job of $122m plebiscite

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Original article by Andrew Tillett
The Australian Financial Review – Page: 4 : 9-Aug-17

Pollster John Scales of JWS Research has questioned the cost of the Federal Government’s proposed postal plebiscite on same-sex marriage. Scales argues that the estimated cost of $A122m is excessive, and his firm could poll 1,000 people in each federal electorate with a margin of error of 3.1 per cent, and at a cost of less than $A1.1m. Scales notes that postal votes have similar limitations to public opinion polls, adding that there was a response rate of just 47 per cent for Australia’s last postal vote in 1997.

CORPORATES
JWS RESEARCH PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN ELECTORAL COMMISSION

Morrison warns all options open

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Original article by Andrew Tillett, James Eyers, Sally Patten, James Frost
The Australian Financial Review – Page: 1 & 8 : 9-Aug-17

Proxy advisers and institutional investors have welcomed the Commonwealth Bank of Australia’s decision to reduce executives’ short-term bonuses in the wake of the money-laundering scandal. However, they argue that CBA must take further action, while federal Treasurer Scott Morrison has told CBA chair Catherine Livingstone that the Government will look at a range of sanctions. The CBA scandal has resulted in increased pressure for the Government to hold a royal commission into banks, but Prime Minister Malcolm Turnbull has warned that doing so could jeopardise AUSTRAC’s case against CBA.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CGI GLASS LEWIS PTY LTD, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, UNISUPER LIMITED, OWNERSHIP MATTERS PTY LTD, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Federal watch on assisted dying plan

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Original article by Greg Brown
The Australian – Page: 7 : 9-Aug-17

Members of both major political parties in Victoria will be given a conscience vote on the State Government’s voluntary euthanasia bill, which is slated to be put to Parliament by the end of August. Meanwhile, the issue of euthanasia is not currently on the Federal Opposition’s policy agenda, according to shadow health minister Catherine King. However, King has indicated that she is in favour of doctor assisted-suicide under certain circumstances.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN MEDICAL ASSOCIATION LIMITED

Hanson’s media bill demands rejected

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Original article by Rosie Lewis
The Australian – Page: 4 : 9-Aug-17

The Australian Government has signalled that it may be open to supporting some of the Senate crossbenchers’ proposed amendments to it cross-media ownership reform bill. These include the Nick Xenophon Team’s push for an inquiry into the growing market power of Google and Facebook and a 40 per cent tax break for smaller news publishers. However, Communications Minister Mitch Fifield is unlikely to support One Nation’s push for the costs of the ABC and SBS to be reviewed.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN GREENS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

‘Zombie’ blockade to stymie PM’s agenda

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Original article by Rosie Lewis
The Australian – Page: 5 : 8-Aug-17

The Australian Government is seeking to have 10 important measures passed by the Senate, but it is suggested that only two will get through because of a lack of cross-bench support. Changes to citizenship laws, higher education reforms, the same-sex marriage plebiscite and the media reform package are among the bills that are likely to be rejected. As a result, savings and revenue measures valued at some $A12 billion are at risk.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL DEMOCRATIC PARTY, ONE NATION PARTY, AUSTRALIAN CONSERVATIVES, AUSTRALIAN GREENS, NATIONAL PARTY OF AUSTRALIA

Ferguson leads IR reform push

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 1 & 6 : 8-Aug-17

Martin Ferguson will advocate changes to the Fair Work Act on behalf of the Minerals Council of Australia. He will urge the Federal Government to introduce reforms that would allow workers to sign individual workplace agreements rather than an enterprise agreement if their income is above a certain threshold. Ferguson, a former Labor minister and ex-ACTU president, will argue that individual agreements are already widely used in the mining sector. Other workplace reforms to be proposed by the MCA include changes to the rules on unions’ right of entry and restrictions on adverse actions.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, ACTU, AUSTRALIAN LABOR PARTY, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. FAIR WORK COMMISSION

Media companies soar ahead of vote

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Original article by Lucy Battersby
The Age – Page: 25 : 8-Aug-17

The Australian Government’s cross-media ownership reform bill is slated to be debated in the Senate on 9 August. Shares in some media companies have rallied in the lead-up to the resumption of Parliament. Prime Media Group’s shares have gained 16.5 per cent in the last two weeks, amid speculation that the regional TV broadcaster would become a takeover target if media laws are relaxed. Shares in Nine Entertainment Company, Southern Cross Media Group Fairfax Media have also risen in the last week.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, STAN ENTERTAINMENT PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MORNINGSTAR PTY LTD, TRIPLE M CORPORATION PTY LTD, HIT NETWORK, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Coal-fired power trade-off for new clean energy target

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Original article by Simon Benson
The Australian – Page: 4 : 7-Aug-17

With the Federal Government yet to take its amended energy policy to the Coalition partyroom, there are promising signs that gas prices are starting to come down. The Government has been able to get the Council of Australian Governments to agree to all but one of the Finkel energy review’s 50 recommendations, namely that of a clean energy target. It is believed that Energy Minister Josh Frydenberg and Prime Minister Malcolm Turnbull are willing to give a commitment to investing in "clean coal"-fired power plants in order to get the partyroom to approve a CET.

CORPORATES
COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Taskforce seeks tobacco blitz

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Original article by Duncan Hughes
The Australian Financial Review – Page: 7 : 7-Aug-17

The Black Economy Taskforce’s chairman Michael Andrew says he plans to urge the Australian Government to clamp down on the illegal tobacco industry. A spokesperson for cigarette and tobacco company Philip Morris estimates that the illegal tobacco industry costs governments almost $A4 billion a year in foregone tobacco excise. The spokesperson adds that greater co-ordination between law enforcement bodies and regulators is needed to tackle the problem.

CORPORATES
PHILIP MORRIS (AUSTRALIA) LIMITED, AUSTRALASIAN ASSOCIATION OF CONVENIENCE STORES INCORPORATED, AUSTRALIAN LABOR PARTY, ATA INTERNATIONAL