VIRUS DISEASES – AUSTRALIA

Movement at Taronga Zoo slow to pick-up since June 1 opening

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Jun-20

A special analysis of movement data at Taronga Zoo shows visitation picking up since the re-opening of the Sydney landmark on 1 June, but still well below the levels seen during the early part of the year, particularly in February and early March. Taronga Zoo closed its doors to visitors on March 25 as COVID-19 restrictions were introduced across New South Wales, and it remained closed throughout April and May. Movement at the Zoo had already dropped significantly in the week before the closure as Australians began practicing social distancing. Roy Morgan has partnered with leading technological innovator UberMedia to aggregate data from tens of thousands of mobile devices to assess the movements of Australians as we emerge from the restrictions imposed in response to the COVID-19 pandemic. The number of devices – a good proxy for visitors – at Taronga Zoo was negligible during the period of closure to visitors but picked up slowly during the first three weeks of June.

CORPORATES
ROY MORGAN LIMITED, TARONGA ZOO

Coronavirus cases in Victoria rise by 19 as state of emergency extended for a further four weeks

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Original article by
abc.net.au – Page: Online : 22-Jun-20

The Victorian government will reinstate some coronavirus restrictions as the number of new infections in the state continues to rise. Amongst other things, people will be limited to having no more than five visitors inside their home at a time, while a maximum of 10 people will be able to attend outdoor gatherings. Another 19 new cases of the coronavirus were recorded in Victoria on 21 June; this include three contractors who work at Melbourne’s Stamford Plaza hotel, where people who have returned from overseas are being quarantined.

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CBA bid to avoid cliff for economy

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Original article by Joyce Moullakis
The Australian – Page: 13 & 14 : 22-Jun-20

The Commonwealth Bank of Australia estimates that about 127,000 of its customers with mortgage loans have deferred their repayments due to the coronavirus pandemic. Angus Sullivan, the head of CBA’s retail banking division, says that 15-20 of these customers are still making some repayments, while some customers have asked to resume making repayments. He adds that CBA has begun contacting all customers who have deferred their repayments to discuss their options ahead of the deferral arrangement ending in September.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Australia very unlikely to allow foreign tourists this year

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Original article by Hans van Leeuwen
The Australian Financial Review – Page: 8 : 18-Jun-20

Federal Tourism Minister Simon Birmingham has conceded that Australia’s borders are likely to remain closed to international visitors for the rest of 2020. He says the nation’s strict border controls have contributed to its success in containing the coronavirus’s spread. Recent data shows that there was a 99.7 per cent downturn in international arrivals in April as lockdown restrictions took effect. The federal government hopes travel between Australia and New Zealand can resume before the end of the year.

CORPORATES
AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS

Movement at Melbourne’s Botanic Gardens back to normal levels – led by Metrotechs

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jun-20

A special analysis of movement data at Melbourne’s Botanic Gardens shows a steady pick-up in visitation in the number of devices seen at the inner-city park over the last month, since reaching a low point in late April. Roy Morgan has partnered with leading technological innovator UberMedia to aggregate data from tens of thousands of mobile devices to assess the movements of Australians as we emerge from the restrictions imposed in response to the COVID-19 pandemic. The number of devices – a good proxy for visitors – seen at the Botanic Gardens hit low-points during the lockdown in early April, around Easter, and also at the end of April as the focus turned towards a gradual lifting of restrictions. Since late April there has been a steady increase in movement at the Botanic Gardens. During the summer months early in 2020 three-quarters of the movement data for the Botanic Gardens was drawn from the big spending Leading Lifestyles and Metrotechs Helix Personas communities, and this majority has increased to 83% in the most recent week available. This increase has been entirely driven by Metrotechs who now comprise 50% of the movement data, up from 40% during summer. Movement data for Leading Lifestyles is virtually unchanged at 33%.

CORPORATES
ROY MORGAN LIMITED, UBERMEDIA

JobKeeper cash needed for schools and hospitals

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Original article by Rosie Lewis
The Australian – Page: 2 : 16-Jun-20

Restaurant & Catering Australia CEO Wes Lambert has urged the federal government to retain the JobKeeper wage subsidy scheme until at least the end of 2020. However, Prime Minister Scott Morrison has argued that retaining coronavirus stimulus measures beyond the scheduled expiration date of late September would result in less funding for essential services such as health and education. The government may introduce stimulus measures that target sectors which have been hardest hit by the economic downturn.

CORPORATES
RESTAURANT AND CATERING INDUSTRY ASSOCIATION OF AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Early access super requests near $15bn

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Original article by Gerard Cockburn
The Australian – Page: 15 : 16-Jun-20

Data from the Australian Prudential Regulation Authority shows that 2.12 million people have applied to withdraw money from their superannuation fund via the federal government’s early access scheme. Some $14.8bn has been paid out to 1.98 million fund members; AustralianSuper heads the list, having paid out $1.98bn to 264,404 members. The early access scheme has been criticised by the ACTU in a submission to a Senate committee hearing into the federal government’s response to the coronavirus pandemic.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIANSUPER PTY LTD, ACTU

Investors need to mind the looming earnings gap

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Original article by Luke Housego
The Australian Financial Review – Page: 29 : 16-Jun-20

The coronavirus pandemic is set to weigh on the financial results of Australian-listed companies, with Morgan Stanley noting that the consensus forecast is for earnings to fall by 15.2 per cent in 2020. The average 12-month forward price-earnings ratios for the S&P/ASX 200 was 18.1 times before the recent sell-off, compared with a long-term average of around 14 times. Jason Steed of Morgan Stanley says a relatively small shift in earnings expectations when P/E ratios are high can prompt a sharp fall in share prices.

CORPORATES
MORGAN STANLEY AUSTRALIA LIMITED, STANDARD AND POOR’S ASX 200 INDEX

COVID-19 restrictions spark a record fall in workers’ pay

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Original article by Patrick Commins
The Australian – Page: 4 : 12-Jun-20

Wages growth fell by 0.7 per cent in the year to June, according to the Melbourne Institute’s latest monthly survey of workers. It is the first time there has been negative growth in pay since the early 2000s. Sam Tsiaplias of the Melbourne Institute notes that wages growth has been subdued for some years, and the economic impact of the pandemic is likely to put more downward pressure on wages. The latest data from the Australian Bureau of Statistics, which predates the coronavirus lockdown, shows that its wage price index rose by 2.1 per cent in the year to March.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIAN BUREAU OF STATISTICS

Porter cuts fast-track rule on new work deals

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 9 : 12-Jun-20

Industrial Relations Minister Christian Porter has advised that a temporary change to workplace laws in response to the coronavirus has been repealed. The notice period for changes to enterprise agreements was reduced from seven days to just 24 hours in April, prompting unions to warn that it could be open to abuse. Porter says a review found no evidence that the regulation had been misused, and he stresses that the change was always intended to be temporary and is no longer needed. The Federal Court was scheduled to rule on the regulation’s validity on 12 June, following a legal challenge by the construction union.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, FEDERAL COURT OF AUSTRALIA