BUSINESS AND POLITICS – AUSTRALIA

Exporter warning over gas shortfall

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Original article by Joe Kelly
The Australian – Page: 6 : 24-Jul-17

Resources Minister Matt Canavan will advise LNG exporters on 24 July 2017 that he may trigger the Australian Domestic Gas Security Mechanism in 2018. Doing so would mean the Federal Government is not confident that there is enough gas to meet domestic needs, and it would take appropriate steps to ensure this does not happen. Fatih Birol, the head of the International Energy Agency, wants Australian states that have imposed restrictions on conventional and unconventional gas exploration to reconsider their stance.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, INTERNATIONAL ENERGY AGENCY, AUSTRALIAN LABOR PARTY

SBS driving up prices, says Nine

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Original article by Darren Davidson
The Australian – Page: 5 : 21-Jul-17

Nine Entertainment Company CEO Hugh Marks has told a parliamentary inquiry into Australia’s film and TV industry that the cost of buying overseas TV programs has risen due to competition from public broadcasters. He said SBS in particular is outbidding commercial networks for international content, and he has questioned the relevance of some of these programs to SBS’s charter. Meanwhile, the Ten Network has urged the Federal Government to abolish content quotas for children’s TV programs.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SPECIAL BROADCASTING SERVICE (SBS), TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN BROADCASTING CORPORATION, SCRIPPS NETWORKS INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NETFLIX INCORPORATED, APPLE INCORPORATED, AMAZON.COM INCORPORATED

Militant super union a step closer

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 13-Jul-17

The Construction, Forestry, Mining & Energy Union has submitted a formal application to merge with two smaller unions. It wants the Maritime Union of Australia and the Textile, Clothing & Footwear Union to be exempt from a ballot, given their much smaller membership bases. Meanwhile, the Australian Mines & Metals Association has expressed concern about the potential impact of the proposed mega-union on the supply chain across the resources and energy sector. It will lobby the Federal Government to introduce laws requiring union mergers to satisfy a public interest test.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, TEXTILE, CLOTHING AND FOOTWEAR UNION OF AUSTRALIA, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. FAIR WORK COMMISSION, CHEVRON CORPORATION, GORGON PTY LTD, AUSTRALIAN LABOR PARTY

Set energy target or feel price pain: gas boss

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Original article by Matt Chambers
The Australian – Page: 1 & 6 : 11-Jul-17

EnergyAustralia has urged the Federal Government to introduce a clean energy target within 12 months. This would allow the company to proceed with two gas-fired power stations in New South Wales. EnergyAustralia says the two plants would help offset the loss of the output from AGL Energy’s Liddell coal-fired power station, which is slated to close in 2022. However, EnergyAustralia warns that there is a limited time-frame to commence these projects, as gas-fired power stations typically take three years to build.

CORPORATES
ENERGYAUSTRALIA PTY LTD, AGL ENERGY LIMITED – ASX AGL, CLP HOLDINGS LIMITED, ALCOA OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

Penalty rates plan for small business

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Original article by Joe Kelly
The Australian – Page: 2 : 10-Jul-17

A report from the Institute of Public Affairs argues that the reduction in Sunday penalty rates will make small businesses more competitive against larger rivals. The report proposes changes to the industrial relations system to allow employers and workers to negotiate their own penalty rates independently of the Fair Work Commission. The IPA also suggests that new businesses could adapt existing enterprise bargaining agreements rather than having to negotiate their own workplace deals.

CORPORATES
INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Reform or fail: BHP’s Nasser

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Original article by Matt Chambers
The Australian – Page: 1 & 4 : 30-Jun-17

BHP Billiton chairman Jac Nasser has told the Competitive Advantage Forum that Australia needs bipartisan political support for reform in areas such as taxation, energy policy and education. He warned that Australia is approaching a "tipping point" and without strong leadership on key issues it risks ceasing to be a "great country" socially and economically. Amongst other things, Nasser says a national policy on energy security is required, while he has criticised proposals for bank levies by the federal and South Australian governments. Nasser will step down as chairman of BHP in August.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, FORD MOTOR COMPANY

Licence fee win boosts TV, radio

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Original article by Stephen Brook
The Australian – Page: 19 : 29-Jun-17

Free TV chairman Harold Mitchell and Commercial Radio Australia CEO Joan Warner have welcomed the Federal Government’s decision to waive broadcasting licence fees for the 2016-17 financial year. The Government proposes to permanently replace broadcasting licence fees with a spectrum charge as part of its media cross-ownership reforms. Shares in listed media companies rallied after the one-off waiver was announced. It is expected to save broadcasters about $A127m.

CORPORATES
FREE TV AUSTRALIA LIMITED, COMMERCIAL RADIO AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY

Santos export fears overdone, says Citigroup

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 21-Jun-17

Shares in Santos closed two per cent lower at $A2.98 on 20 June 2017, after the Federal Government committed to implementing the Australian Domestic Gas Security Mechanism. However, Citigroup believes that LNG export controls may have less near-term impact on Santos and its Gladstone LNG venture than has been forecast. Citigroup also suggests that the ADGSM may also prompt Santos and its partners in the project to develop new gas fields instead of sourcing gas from third parties.

CORPORATES
SANTOS LIMITED – ASX STO, GLADSTONE LNG PTY LTD, CITIGROUP PTY LTD, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, MACQUARIE RESEARCH EQUITIES, CREDIT SUISSE (AUSTRALIA) LIMITED

PM urged to decide on Finkel

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Original article by Joe Kelly
The Australian – Page: 5 : 20-Jun-17

Council of Small Business of Australia CEO Peter Strong says many firms in the sector will collapse and jobs will be lost unless the Federal Government acts quickly on the Finkel review’s recommendations on energy policy. He says the Council of Australian Governments should hold an emergency meeting to discuss the findings of the review. Strong will release COSBOA’s energy policy on 20 June. The Small Business & Family Enterprise Ombudsman, Kate Carnell, has called for bipartisan political support for action on energy security.

CORPORATES
COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST

Levy a shock for foreign investors: NAB

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Original article by James Eyers
The Australian Financial Review – Page: 18 : 16-Jun-17

The Senate Economics Legislation Committee is currently investigating the bill to implement the Federal Government’s proposed bank levy. National Australia Bank CFO Gary Lennon says foreign investors have expressed concern to him about the tax, including the rushed manner in which it has been adopted. Amongst other things, submissions to the committee have argued that the bill should include a "sunset clause" and that the tax should cover foreign banks.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. SENATE ECONOMICS LEGISLATION COMMITEE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE BANK LIMITED – ASX MBL, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN BANKERS’ ASSOCIATION, ME BANK, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, CUSTOMER OWNED BANKING ASSOCIATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN GREENS