BUSINESS AND POLITICS – AUSTRALIA

Regionals push for local news services

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 5-Oct-15

Australia’s regional TV broadcasters will propose a number of safeguards to ensure that local content levels are maintained if cross-media ownership laws are scrapped. Among other things, they have suggested that a "change of control" clause be added to their broadcasting licence, to prevent further reductions in local news services. Local news accounts for about 15 per cent of regional networks’ costs, and they argue that this is one of the few areas in which they can make further cost savings.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, IMPARJA TELEVISION PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NBN TELEVISION

BCA keen to promote tax revamp ideas

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Original article by Phillip Coorey
The Australian Financial Review – Page: 11 : 1-Oct-15

Prime Minister Malcolm Turnbull will discuss economic policy with business, union and community organisation leaders on 1 October 2015. Business Council of Australia (BCA) CEO Jennifer Westacott says there is an urgent need for economic reform, which cannot be delayed until after the next federal election. Westacott adds that the BCA will shortly launch an advertising campaign to promote the need for tax reform, while a subsequent campaign will focus on particular tax that should be changed.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, ACTU, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, KPMG AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

TV networks split on reform

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Original article by Dominic White
The Australian Financial Review – Page: 18 : 29-Sep-15

The issue of Australia’s cross-media ownership laws is again under scrutiny, with further dissent among major TV broadcasters. Nine Entertainment Company and Prime Media Group say they will support relaxing the rules governing sports broadcasts in return for changes to the ownership regime. However, Seven West Media and Ten Network oppose any move to reduce the number of sports on the anti-siphoning list. Communications Minister Mitch Fifield plans to review the list.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIA. DEPT OF COMMUNICATIONS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FREE TV AUSTRALIA LIMITED, CROSBY TEXTOR RESEARCH STRATEGIES RESULTS PTY LTD, WIN CORPORATION PTY LTD, IMPARJA TELEVISION PTY LTD

Workplace reform ‘must be a priority’

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Original article by Andrew White, Kylar Loussikian
The Australian – Page: 4 : 25-Sep-15

Washington H Soul Pattinson’s executive chairman Robert Millner has urged the Australian Government to pursue workplace reforms. He has identified the penalty rates system and high labour costs in the manufacturing sector as key issues that need to be addressed. Millner has also criticised the number of rostered days off in sectors such as manufacturing, as well the high level of leave entitlements for construction workers.

CORPORATES
WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BRICKWORKS LIMITED – ASX BKW, NEW HOPE CORPORATION LIMITED – ASX NHC, LIBERAL-NATIONAL PARTY OF QUEENSLAND, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

BHP warns tax changes could result in double whammy

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Original article by Amanda Saunders
The Australian Financial Review – Page: 21 & 26 : 24-Sep-15

BHP Billiton has advised that its global tax bill for 2014-15 was $US7.3bn, with taxes and royalties in Australia accounting for $US5.2bn ($A7.3bn) of this total. CFO Peter Beaven says the resources group believes that the amount of tax it pays is "very fair", and said nearly all of its profits earned in Australia are subject to taxation in Australia. Beaven adds that while there is need for a debate on tax reform, he cautioned that unilateral tax reform could potentially lead to companies being taxed twice.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Business urges PM to be more aggressive on IR

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Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 22-Sep-15

Australian Industry Group CEO Innes Willox says the Federal Government should act immediately to introduce reforms that were recommended by the Harper review of competition policy. Willox also says the Government should be more active in promoting the need for industrial relations reform ahead of the federal election, and he argues that it should adopt the Productivity Commission’s recommendations on issues such as weekend penalty rates.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, ACTU, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT

New PM a win for retail, media and tech shares

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 31 : 16-Sep-15

David Bassanese of BetaShares expects consumer and business confidence to rise in the near-term under new Prime Minister Malcolm Turnbull. He adds that Turnbull’s success in pursuing economic reform will determine whether a rise in business confidence is sustained. He says stocks in the retail, technology and construction sectors are likely to benefit from the leadership change. ST Wong of Prime Value Management say a Turnbull government may be positive for media stocks in particular.

CORPORATES
BETASHARES CAPITAL LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PRIME VALUE ASSET MANAGEMENT LIMITED, PEAK ASSET MANAGEMENT PTY LTD, IG MARKETS LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORPORATION – ASX NWS, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF, AUSTRALIA. DEPT OF THE ENVIRONMENT

Turnbull unites Coalition as business hopes surge

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 16-Sep-15

New Australian Prime Minister Malcolm Turnbull has committed to retaining the Coalition’s stance on key issues such as climate change and same-sex marriage. He will also support a proposal to add a so-called "effects test" to competition laws, although such a move is opposed by the Business Council of Australia. The business sector generally supports the dumping of former prime minister Tony Abbott in favour of Turnbull, while a snap Morgan Poll shows that 70 per cent of electors rate Turnbull as the preferred Prime Minister.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF AGRICULTURE, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF SOCIAL SERVICES, MURRAY-DARLING BASIN AUTHORITY

Concerns rise about restrictions in crowdfunded shares proposal

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Original article by Rose Powell
The Australian Financial Review – Page: 22 : 8-Sep-15

The Australian Government’s proposed crowdsourced equity investment legislation contains a cap on the number of investors in start-ups that are allowed to raise crowdsourced equity. Another cap limits the amount of capital to be raised to $A2 million The Australian Chamber of Commerce & Industry writes in a submission to a Treasury inquiry that both caps should be removed.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, BLUE CHILLI TECHNOLOGY PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, ARTESIAN VENTURE PARTNERS PTY LTD, VENTURECROWD PTY LTD

Shazam me some faith because I’m losing it with the Liberals

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Original article by Grace Collier
The Australian – Page: online : 29-Aug-15

It is frustrating to observe how the Coalition is wasting political credit given to it by voters. The federal Government has made many mistakes, including failing to appoint more women to influential positions and not doing enough for ordinary Australians. Big business has too much influence on politics. Under pressure from big companies, the Government made changes to the Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Bill 2015 which made the bill meaningless.

CORPORATES
SKY NEWS, LIBERAL PARTY OF AUSTRALIA