Facebook defends itself against Twiggy Forrest attack

Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 29-Nov-19

Facebook has responded to claims that it is not doing enough to address the issue of fraudulent advertisements on its platforms. Carolyn Everson, Facebook’s global head of marketing, says it has launched a "massive crackdown" on scam ads and may take legal action against those responsible for them. Mining magnate Andrew Forrest has called for digital platforms to be treated in the same way as traditional media companies. He is among the high-profile Australians whose photos have been used in scam ads published on digital platforms such as Facebook and Google.

CORPORATES
FACEBOOK INCORPORATED, GOOGLE INCORPORATED, TWITTER INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM

Forrest wants tech giants to be accountable for ads

Original article by Max Mason
The Australian Financial Review – Page: 7 : 28-Nov-19

Fortescue Metals Group founder Andrew Forrest argues that technology companies such as Facebook should be treated in the same way as traditional media companies with regard to advertising content that appears on their platforms. He contends that digital companies are not doing enough to address the issue of fraudulent ads, and they must be accountable for the ads that are published on their platforms. Forrest is among a number of high-profile Australians whose images have been used to promote scams on social media platforms.

CORPORATES

$65 million and counting, Clive Palmer labels Labor as sore losers on election spend

Original article by Samantha Maiden
The New Daily – Page: Online : 21-Oct-19

It is expected that businessman Clive Palmer’s advertising expenditure on the last federal election will be somewhere around $65 million to $70 million when he lodges his final expenditure statement with the Australian Electoral Commission. Labor has apparently blamed Palmer’s extensive advertising as one of the factors behind its defeat, but Palmer has rejected its calls for a cap on advertising expenditure. He says Labor was happy for him to spend as much as he liked when it appeared that he would be giving them his preferences.

CORPORATES
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY

ACMA probes Gordon’s Prime shares

Original article by Max Mason
The Australian Financial Review – Page: 29 : 7-Oct-19

WIN Corporation owner Bruce Gordon currently has a 19.7 per cent stake in rival regional TV broadcaster Prime Media Group. This comprises a direct stake of 11.6 per cent and an 8.1 per cent stake held via a cash-settled share swap. The Australian Communications & Media Authority is investigating Gordon after his ‘relevant interest’ in Prime exceeded the maximum of 20 per cent earlier in 2019. However, ACMA is expected to conclude that the breach was an error caused by the failure of a middleman to properly execute a swap with Swiss bank Vontobel.

CORPORATES
WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, VONTOBEL BANK, DEUTSCHE BANK AG, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED

Forrest’s $300m war on plastic

Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 26-Sep-19

Australian iron ore magnate Andrew Forrest has revealed a proposal to reduce global plastic waste by imposing a levy on plastics manufacturers. Forrest says the levy would initially raise about $US20bn a year, which could potentially increase to $US100bn, and the proceeds would be used to encourage the plastics industry to collect waste products and convert them back into polymer resin for reuse. Forrest’s Minderoo Foundation will invest some $US300m ($442m) in the initiative. Forrest says plastics are the biggest threat to the world’s oceans.

CORPORATES
MINDEROO FOUNDATION, FORTESCUE METALS GROUP LIMITED – ASX FMG, UNITED NATIONS. GENERAL ASSEMBLY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, ELLEN MacARTHUR FOUNDATION, UNIVERSITY OF WESTERN AUSTRALIA

$80m deal: Singleton sells out of radio after 60-year career

Original article by Zoe Samios
The Australian – Page: 1 : 23-Sep-19

Nine Entertainment Company’s hopes of gaining full ownership of Macquarie Media have been boosted after John Singleton advised that he will accept the offer of $1.46 per share unless a higher bid emerges. The advertising industry veteran has a 32.2 per cent stake in the owner of radio stations such as 2GB and 3AW, and he will gain about $80m from the transaction. Singleton says he may invest in the media sector in the future, but he adds that breeding horses and canaries are now his top priority.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Retail king Harvey says: ‘I’m never going to retire’

Original article by Carrie LaFrenz
The Australian Financial Review – Page: 15 : 2-Sep-19

Harvey Norman chairman Gerry Harvey says the company recorded three per cent growth in same-stores sales during the first two months of 2019-20. The furniture and consumer electronics retailer’s pre-tax net profit for 2018-19 was 8.4 per cent higher than previously, at $574.56m. Meanwhile, Harvey has ruled out retirement, despite approaching his 80th birthday.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Bouris calling with a warning about Labor

Original article by Simon Benson
The Australian – Page: 8 : 17-May-19

Wizard Home Loans founder Mark Bouris has attracted scrutiny from the Australian Electoral Commission for targeting voters via a robo-calling campaign. Bouris, who is not a candidate in the federal election, used automated phone calling technology to contact 200,000 households in marginal electorates. He warned that Labor’s proposed negative gearing and capital gains tax reforms would see house prices fall. Bouris has stressed that he was not acting on behalf of any political party.

CORPORATES
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY, WIZARD HOME LOANS, YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, LIBERAL PARTY OF AUSTRALIA

Rich Lister hemp campaigner backs Abbott

Original article by Carrie LaFrenz
The Australian Financial Review – Page: 9 : 23-Apr-19

Barry Lambert, the chairman and biggest shareholder of hemp company Ecofibre, is urging voters in the seat of Warringah to re-elect former prime minister Tony Abbott. Lambert is keen to get medical cannabis legalised, and he says Abbott has been supportive of his campaign. Lambert has urged Labor leader Bill Shorten to legalise hemp extract for medical purposes if he wins the election; Lambert also says Shorten should exempt existing investors from Labor’s proposed franking credit reforms.

CORPORATES
ECOFIBRE INDUSTRIES LIMITED, AUSTRALIAN LABOR PARTY, THOMAS JEFFERSON UNIVERSITY, COUNT FINANCIAL LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ONE NATION PARTY

Miner Forrest makes long march to Norway to protest offshore oil drilling

Original article by Perry Williams
The Australian – Page: 21 & 24 : 22-Mar-19

Australia’s National Offshore Petroleum Safety & Environmental Management Authority has received more than 30,000 submissions regarding a proposed oil drilling program in the Great Australian Bight. Fortescue Metals Group founder Andrew Forrest is amongst those who oppose the drilling plans of Norway-based Equinor, due to the potential environmental impact on the Bight. Forrest’s Minderoo Foundation recently launched the Flourishing Oceans initiative.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINDEROO FOUNDATION, EQUINOR, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM SAFETY AND ENVIRONMENTAL MANAGEMENT AUTHORITY, THE WILDERNESS SOCIETY, VALE SA, CHEVRON CORPORATION, BP PLC, FLOURISHING OCEANS, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, ACIL ALLEN CONSULTING PTY LTD, WOOD MACKENZIE