AUSTRALIAN – UNITED STATES

US, Britain soak up cash

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Original article by David Uren
The Australian – Page: 28 : 27-Apr-17

Data shows that Australian foreign investment doubled in the 10 years to 2015, to $A534bn, and offshore investment now accounts for 32.4 per cent of GDP. The US tops the list of overseas investment destinations, at $A105bn, ahead of the UK ($A85bn). However, Andrew Parker of PwC notes that Asia accounts for only 10.9 per cent of Australia’s total foreign investment. A survey by PwC has found that Australia’s dividend imputation system is generally not regarded as a deterrent to investing in Asia.

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, ASSOCIATION OF SOUTH-EAST ASIAN NATIONS

Spending, tax cuts to buoy firms with US exposure

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Original article by Damon Kitney, Andrew White, Eli Greenblat, Matt Chambers
The Australian – Page: 21 & 26 : 11-Nov-16

Australian-listed companies with a significant presence in the US do not expect the election of Donald Trump as president to have much impact on their business. Brambles CEO Tom Gorman is upbeat about the logistics group’s outlook, noting that its US customers are primarily in sectors that are not affected by political and economic cycles. Orora CEO Nigel Garrard says the packaging group is optimistic about the economic impact of Trump’s policies on corporate tax cuts and infrastructure spending.

CORPORATES
BRAMBLES LIMITED – ASX BXB, ORORA LIMITED – ASX ORA, TREASURY WINE ESTATES LIMITED – ASX TWE, BLUESCOPE STEEL LIMITED – ASX BSL, FORTESCUE METALS GROUP LIMITED – ASX FMG, EVANS AND PARTNERS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, SYDNEY AIRPORT – ASX SYD, TRANSURBAN GROUP LIMITED – ASX TCL, WESTFIELD CORPORATION – ASX WFD, BERINGER WINE ESTATES HOLDINGS INCORPORATED, DIAGEO PLC, NORTH STAR STEEL, PRATT INDUSTRIES (USA) INCORPORATED, OAKTREE CAPITAL MANAGEMENT LLC

BlueScope’s US protectionist profit bonanza

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Original article by Simon Evans
The Australian Financial Review – Page: 13 & 16 : 23-Aug-16

BlueScope Steel has reported a rise of 160 per cent in net profit after tax to $A353.8 million for 2015-16. The Australian-listed steel maker benefited from cost-cutting initiatives, improving conditions in the global steel market and the imposition of anti-dumping duties in the US on steel imports from China. The company’s North Star mill in Ohio, which is the most profitable steel mill in North America, produces two million tonnes of steel annually.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, CARGILL INCORPORATED, ARRIUM LIMITED – ASX ARI

US expansion and local relief for BlueScope

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Original article by Tim Binsted
The Australian Financial Review – Page: 13 & 18 : 27-Oct-15

Shares in BlueScope Steel closed 10.6 per cent higher at $A4.50 on 26 October 2015, after the group revealed that its Port Kembla steelworks will stay open. BlueScope had previously warned that it would have to close the last blast furnace unless costs were reduced. BlueScope has negotiated a deal with Port Kembla workers which includes a wage freeze and job cuts, while the New South Wales Government will defer payroll taxes for three years. BlueScope will also buy out Cargill’s 50 per cent stake in the North Star mill in the US.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, CARGILL INCORPORATED, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Incitec predicts further growth in US, China

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Original article by Jared Lynch
The Australian Financial Review – Page: 24 : 16-Sep-15

Incitec Pivot CEO James Fazzino says that the US will account for around 50 per cent of the group’s earnings when its ammonia plant in Louisiana is fully operational. He notes that US shale gas prices have fallen sharply since Incitec decided to proceed with the plant, adding that the Louisiana facility provides investors with a "compelling" reason to buy the group’s shares. Fazzino also remains upbeat about the outlook for the Chinese economy.

CORPORATES
INCITEC PIVOT LIMITED – ASX IPL, UBS HOLDINGS PTY LTD, CHS, CF INDUSTRIES HOLDINGS INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

IFM snares US tollroad for $10b

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Original article by Jenny Wiggins, Anthony Macdonald
The Australian Financial Review – Page: 13 & 20 : 13-Mar-15

IFM Investors CEO Brett Himbury has described the Indiana Toll Road in the US as a "fantastic investment" for the group. He is upbeat about the outlook for the US economy, and notes that the 253km toll road’s revenue is likely to remain strong regardless of the strength of the economic recovery. IFM has paid $US7.5bn ($A10bn) for a 66-year lease to operate the toll road, which was placed into bankruptcy in 2014

CORPORATES
IFM INVESTORS PTY LTD, INDIANA TOLL ROAD CONCESSION COMPANY, MACQUARIE GROUP LIMITED – ASX MQG, CINTRA CONCESIONES DE INFRAESTRUCTURAS DE TRANSPORTE SA, GRUPO FERROVIAL SA, TRANSURBAN GROUP LIMITED – ASX TCL, CANADA PENSION PLAN INVESTMENT BOARD, ONTARIO TEACHERS’ PENSION PLAN, ABERTIS INFRAESTRUCTURAS SA, BOREALIS INFRASTRUCTURE MANAGEMENT INCORPORATED, QUEENSLAND MOTORWAYS LIMITED

Macquarie hits political opposition in US network plan

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Original article by John Kehoe
The Australian Financial Review – Page: 15 & 19 : 1-Sep-14

The Utah Taxpayers Association opposes Macquarie Group’s proposal to complete the construction of an open-access broadband network in the state. Work on the Utah Telecommunication Open Infrastructure Agency (UTOPIA) project started about 10 years ago, and Macquarie wants to finance completion of the network. The original proposal was for the network to cover 11 cities in Utah

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, UTAH TELECOMMUNICATION OPEN INFRASTRUCTURE AGENCY (UTOPIA), UTAH TAXPAYERS ASSOCIATION, CENTURYLINK, COMCAST CORPORATION, MACQUARIE CAPITAL PARTNERS LLC, ECONOWEST ASSOCIATES

Packer rolls the dice on Vegas strip

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Original article by Jessica Gardner, James Thomson
The Australian Financial Review – Page: 15 & 20 : 5-Aug-14

Australian-listed Crown Resorts has paid $US280m ($A301m) for a development site in Las Vegas. The group will build a casino on the 14-hectare site, which was previously the site of the New Frontier casino. Crown now has some $A6bn worth of casino projects in development, while it is also looking at $A7bn worth of projects in Australia, Japan and Sri Lanka. The new Las Vegas casino is slated for completion in 2018

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, NEW FRONTIER HOTEL AND CASINO, OAKTREE CAPITAL MANAGEMENT LLC, WYNN RESORTS LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, GREENLAND HOLDING GROUP COMPANY LIMITED, ABOVE THE INDEX ASSET MANAGEMENT PTY LTD

Aristocrat scores jackpot in pokies deal

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Original article by Andrew White
The Australian – Page: 21 : 8-Jul-14

Australian-listed poker machines maker Aristocrat Leisure has acquired US company Video Gaming Technologies for $A1.3 billion. The purchase is being funded by an equity raising and debt, with $A375 million of shares offered to institutions at $A5.12 and $US1.3 billion raised via loans in the US. Aristocrat CEO Jamie Odell said on 7 July 2014 that the program of acquiring digital gaming companies will be continued

CORPORATES
ARISTOCRAT LEISURE LIMITED – ASX ALL, VIDEO GAMING TECHNOLOGIES INCORPORATED, OPTIONSXPRESS AUSTRALIA PTY LTD, BALLY ENTERTAINMENT CORPORATION, SHUFFLE MASTER AUSTRALIA PTY LTD, SCIENTIFIC GAMES CORPORATION, WMS GAMING INCORPORATED