BUSINESS AND POLITICS – AUSTRALIA

Obsolete media rules shackle Foxtel, says Ten chairman

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 13 & 18 : 17-Dec-15

Shareholders at Ten Network’s 2015 AGM have voted in favour of a deal for Foxtel to acquire a 15 per cent stake in the free-to-air broadcaster. Meanwhile, Ten chairman David Gordon has urged the Australian Government to abolish cross-media ownership rules, noting that the growth of digital media groups has made the rules redundant. He has also called for TV broadcasting licence fees to be scrapped, arguing that digital rivals have a competitive advantage.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, WIN CORPORATION PTY LTD, BLACKMORES LIMITED – ASX BKL

Business pushes PM on IR, tax

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Original article by Ben Potter, Ewin Hannan, Patrick Durkin
The Australian Financial Review – Page: 1 & 11 : 9-Dec-15

Business Council of Australia president Catherine Livingstone has used the Workplace and Productivity Summit to call on the Federal Government to pursue changes to the industrial relations and tax regimes. However, economist Ross Garnaut told the summit – which has been organised by "The Australian Financial Review" – that there is no need for tax cuts in sectors that face limited competition. GE Australia CEO Geoff Culbert and ACTU secretary Dave Oliver were among the other speakers during the first day of the summit.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, GE AUSTRALIA AND NEW ZEALAND, ACTU, AUSTRALIAN HUMAN RESOURCES INSTITUTE, SINGTEL OPTUS PTY LTD, AIRTASKER PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FAIRFAX MEDIA LIMITED – ASX FXJ

Health funds serve wish-lists to Ley

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 4-Dec-15

Australian private health insurers must lodge submissions on the Federal Government’s review of the sector by 4 December 2015. Health insurers have proposed the introduction of a lifetime discount for people under the age of 30, in order to encourage a greater take-up rate among young people. Insurers are also concerned that the annual cost of medical devices and prostheses is significantly higher than it should be.

CORPORATES
BUPA AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, AUSTRALIA. DEPT OF HEALTH

Rinehart to Labor: follow Malcolm’s lead and ditch carbon tax

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Original article by Perry Williams
The Age – Page: 25 : 4-Dec-15

The Australian Labor Party’s 2016 federal election platform will include an emissions trading scheme. However, mining magnate Gina Rinehart has urged the Opposition to commit to not introducing a carbon tax, arguing that governments should not be imposing any taxes on companies that reduce their ability to compete internationally. Rinehart has also noted the dearth of major greenfield mining projects in Australia following the start of production at her Roy Hill iron ore project.

CORPORATES
AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, POSCHELK DENTAL SURGERIES, MARUBENI CORPORATION, CHINA STEEL CORPORATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, LIBERAL PARTY OF AUSTRALIA

Rio’s Walsh wants Australia to aim for Asia’s tax rate

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Original article by Amanda Saunders
The Australian Financial Review – Page: 9 : 3-Dec-15

Rio Tinto CEO Sam Walsh says reducing Australia’s company tax rate is the best way to encourage investment and new business start-ups. He notes that the average corporate tax rate in Asia is around 21 per cent, and suggests that Australia should seek to reduce its company tax rate to a similar level.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GROUP OF TWENTY (G-20)

Delay on rules for ownership

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Original article by Dominic White
The Australian Financial Review – Page: 30 : 30-Nov-15

Cabinet ministers may discuss proposed changes to cross-media ownership laws in the week after Parliament rises for the summer break, but any reforms will now not proceed until February 2016. Communications Minister Mitch Fifield had hoped to put the reforms to cabinet before the end of the parliamentary year. Meanwhile, Nine Entertainment Company CEO Hugh Marks argues that TV broadcasting licence fees must be included in the reforms, which are centred on the "reach rule" and the "two-out of-three rule".

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BAUER MEDIA KG, NOVA ENTERTAINMENT PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, COMCAST CORPORATION, SONY CORPORATION, TIME WARNER INCORPORATED, VIACOM INCORPORATED

Media reform debate could go to the wire

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 23-Nov-15

The Australian Government’s proposed changes to cross-media ownership laws may still be discussed by cabinet before parliament rises for the year, although other issues are likely to take priority in the coming week. Meanwhile, pay-TV group Foxtel has proposed removing sports events such as the FA Cup and the US Masters Golf from the anti-siphoning list. Australian Subscription Television & Radio Association chairman Tony Shepherd has also advocated changes to the list.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, FOOTBALL ASSOCIATION LIMITED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

Scrap outdated media laws: Seven boss

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Original article by Darren Davidson
The Australian – Page: 19 : 19-Nov-15

Seven Group chairman Kerry Stokes has called for the Australian Government to take action on TV broadcasting licence fees and increase the producer offset for TV drama as part of its changes to media industry regulation. He supports abolition of the "reach rule" and the "two-out-of-three rule", but argues that these changes must be part of a broader package of reforms. However, Stokes favours retaining the anti-siphoning list for broadcasting sports.

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN

No vacancy? It’s just too expensive to clean hotel rooms

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Original article by Joe Kelly, Lisa Allen
The Australian – Page: 2 : 6-Nov-15

Accommodation Association of Australia CEO Richard Munro says Sunday penalty rates are forcing many hotels to delay cleaning their rooms until Monday, which has reduced the available of accommodation on weekends. He adds that some hotel operators are also delaying essential maintenance work and cancelling breakfast services on Sundays. The association wants the Federal Government to make a submission on penalty rates to the Fair Work Commission’s review of the modern industrial awards system.

CORPORATES
ACCOMMODATION ASSOCIATION OF AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, MANTRA GROUP LIMITED – ASX MTR, THE WINDSOR HOTEL

BCA says cut taxes for business first

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 6-Nov-15

Business Council of Australia president Catherine Livingstone argues that a lower corporate tax rate should be at the top of the Federal Government’s tax reform agenda. She notes that reducing the corporate tax burden has been proven to be most effective at boosting innovation and economic growth in other countries. Meanwhile, Prime Minister Malcolm Turnbull has stressed that tax reforms will not gain widespread public support unless they are seen to be fair.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, DELOITTE TOUCHE TOHMATSU LIMITED