BUSINESS AND POLITICS – AUSTRALIA

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

Pressure builds on Labor over ‘dud’ China trade deal

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Original article by Primrose Riordan
The Australian Financial Review – Page: 4 : 31-Aug-15

Senator Jacqui Lambie has raised concerns about the China-Australia Free Trade Agreement. The fate of the deal is now uncertain. Growing opposition to the agreement has prompted the National Farmers’ Federation, the Minerals Council of Australia and the Australian Chamber of Commerce & Industry to launch a TV advertising campaign which stresses the benefits of the deal.

CORPORATES
NATIONAL FARMERS’ FEDERATION LIMITED, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE

Billson slams BCA ‘utter nonsense’

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 5-Aug-15

The Australian Government’s cabinet ministers have endorsed a proposal to add a so-called "effects test" to the Competition and Consumer Act. The reform was one of 56 recommendations made by the Harper review of competition laws, and is supported by the Australian Chamber of Commerce & Industry. However, the Business Council of Australia maintains that an effects test would adversely affect competition and make companies more vulnerable to litigation.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, BUSINESS COUNCIL OF AUSTRALIA, THE AVALON, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Billson slams BCA ‘utter nonsense’

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 5-Aug-15

The Australian Government’s cabinet ministers have endorsed a proposal to add a so-called "effects test" to the Competition and Consumer Act. The reform was one of 56 recommendations made by the Harper review of competition laws, and is supported by the Australian Chamber of Commerce & Industry. However, the Business Council of Australia maintains that an effects test would adversely affect competition and make companies more vulnerable to litigation.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, BUSINESS COUNCIL OF AUSTRALIA, THE AVALON, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

$2.5m super cap gains support

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Original article by Sally Rose
The Australian Financial Review – Page: 6 : 4-Aug-15

There is growing support among superannuation funds for the introduction of a cap on super balances of at least $A2.5 million. The Actuaries Institute expressed support for the cap in its submission to the Australian Government’s tax inquiry, which closed on 31 July 2015. The institute also believes that the transfer of super from the accumulation to retirement phase should trigger capital gains tax liability.

CORPORATES
THE INSTITUTE OF ACTUARIES OF AUSTRALIA, GRATTAN INSTITUTE, BT FINANCIAL GROUP PTY LTD, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, TOWERS WATSON, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN INSTITUTE OF SUPERANNUATION TRUSTEES, FINANCIAL SERVICES COUNCIL, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN TAXATION OFFICE

CSL urges lower manufacturing tax

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 4-Aug-15

CSL is one of Australia’s most successful companies. It is a global player in the field of biotechnology. CFO Gordon Naylor complains about high tax rates in Australia which, he believes, hinder the development of the country’s advanced manufacturing sector. CSL advocates the introduction of a new tax rate of 10 per cent for advanced manufacturing. Under the current tax regime, Australian companies pay 30 per cent in corporate tax.

CORPORATES
CSL LIMITED – ASX CSL, BLOOMBERG LP, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE