Original article by Rosie Lewis
The Australian – Page: 5 : 8-Jul-16
The Australian Labor Party’s caucus rules will require a leadership spill, but Opposition Leader Bill Shorten is poised to be re-elected unopposed on 8 July 2016. Shorten emphasised Labor’s "unity of purpose" during a visit to Perth on 7 July. Meanwhile, the party’s Left faction is expected to seek additional representation on the Opposition’s frontbench in the wake of the federal election.
CORPORATES
AUSTRALIAN LABOR PARTY
Original article by Jacob Greber, Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 8-Jul-16
Treasurer Scott Morrison says the Federal Government will still aim to achieve a Budget surplus in 2020-21, in order to avert the loss of Australia’s coveted triple-A credit rating. Standard & Poor’s has downgraded the nation’s credit rating outlook to "negative" and warned that it will closely monitor the government’s fiscal performance over the next 6-12 months. The ratings agency also indicated that Australia’s "AAA" rating may be at risk due to the nation’s rising foreign debt.
CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET
Original article by David Crowe
The Australian – Page: 1 & 4 : 8-Jul-16
The Australian Labor Party has not yet formally conceded defeat in the 2016 federal election, but Opposition Leader Bill Shorten says the Coalition is now likely to be returned to office. The Coalition appears increasingly likely to attain the 76 lower house seats it needs to govern in its own right, with four seats still undecided. Independent MP Bob Katter has also indicated that he will support the Coalition.
CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN DEFENCE FORCE
Original article by Sarah Martin
The Australian – Page: 8 : 7-Jul-16
David McElrea, the assistant secretary of United Voice, says the union movement’s campaign on the issue of penalty rates in 10 marginal was a significant contributor to the large swing to the Australian Labor Party in the federal election. The union-backed campaign included text messages, robocalling and digital advertising, and played on fears that the Coalition would reduce weekend penalty rates in the retail and hospitality sectors if it is re-elected.
CORPORATES
UNITED VOICE, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, REACHTEL PTY LTD
Original article by Samantha Hutchinson
The Australian – Page: 6 : 7-Jul-16
Property industry experts are concerned that the Coalition may change its stance on the negative gearing regime in the wake of the federal election. There are indications that some crossbenchers may support the Australian Labor Party’s proposed negative gearing reforms, which could in turn force the Coalition to reconsider its commitment to the existing regime. However, at least two independents – Bob Katter and Cathy McGowan – support the existing rules on negative gearing.
CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, ONE NATION PARTY, CENTURY 21 REAL ESTATE, GRATTAN INSTITUTE, PROPERTY COUNCIL OF AUSTRALIA LIMITED
Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 2 : 7-Jul-16
Seven undecided seats are likely to determine the outcome of the 2016 federal election. The Coalition appears to have won 72 seats to date, and Treasurer Scott Morrison is "very confident" that it will secure the 76 lower house seats required to form a majority government. However, Prime Minister Malcolm Turnbull will hold meetings with several crossbenchers as a contingency plan in the event that the Coalition falls short of this target. Counting of votes is continuing, but the Australian Labor Party currently has 50.2 per cent of the popular vote on a two-party preferred basis.
CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIA. COUNTRY FIRE AUTHORITY
Original article by
The Australian – Page: 5 : 7-Jul-16
Liberal Party MP Andrew Hastie has retained the seat of Canning with a margin of 6.2 per cent, after a swing against him of 5.1 per cent in the federal election. Hastie is the latest Coalition MP to criticise the Liberal Party’s election campaign, noting that policies such as company tax cuts and the innovation agenda had little relevance for many Australians. Hastie also says Coalition backbenchers must be consulted regarding any negotiations with crossbenchers.
CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA
Original article by Matthew Cranston
The Australian Financial Review – Page: 30 : 5-Jul-16
The post-election reconfiguration of the Australian parliament could affect the sale of S. Kidman & Company. Dakang Australia Holdings is expected to try again to buy Kidman, after its acquisition proposal was rejected by Treasurer Scott Morrison. Senators Adam Bandt, Pauline Hanson, Nick Xenophon and Bob Katter are likely to oppose the sale of Kidman to foreigners.
CORPORATES
S KIDMAN AND COMPANY PTY LTD, DAKANG AUSTRALIA HOLDINGS PTY LTD, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, AUSTRALIAN GREENS, DOMACOM LIMITED
Original article by David Uren
The Australian – Page: 1 & 4 : 5-Jul-16
Standard & Poor’s is tipped to review Australia’s "AAA" credit rating in the wake of the federal election. S&P has indicated that the nation’s credit rating may be downgraded unless the next government can implement measures to reduce the Budget deficit. Fitch Ratings has also warned of the potential for a downgrade if a hung parliament results in policies that further increase the deficit. However, Moody’s notes that Australia’s government debt remains much lower than the majority of developed economies.
CORPORATES
STANDARD AND POOR’S CORPORATION, FITCH RATINGS LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, RESERVE BANK OF AUSTRALIA
Original article by Jessica Sier
The Australian Financial Review – Page: 27 : 5-Jul-16
The potential for a hung parliament following the 2016 federal election is likely to weigh on investor sentiment in the near-term, although equities quickly recovered after a sell-off in the wake of the 2010 election. The prospect of another obstructive Senate in particular is a concern for investors, as it is likely to affect the timing of a return to a Budget surplus. However, financial markets are proving to be resilient to risk factors, as the rebound following the UK’s "Brexit" referendum demonstrates.
CORPORATES
WATERMARK FUNDS MANAGEMENT PTY LTD, STANDARD AND POOR’S ASX 200 INDEX, CAPITAL ECONOMICS LIMITED, CITIGROUP PTY LTD, STANDARD AND POOR’S CORPORATION
