ABIX - Roy Morgan Daily News Summary  |  Tweet  |  Like  |  Forward  |   |  Roy Morgan Social Media:    Instagram    Facebook    YouTube    LinkedIn    Twitter DAILY NEWS SUMMARY key-indicators government-education-health business-retail-telco-agriculture media-marketing-arts resources-energy construction-property FINANCIAL INDICATORS Australian Stock Indices (ASX) Australian Dollar & other currencies US Stock Indices UK FTSE 100 Index Gold Price Bitcoin Price Energy Commodities (incl. Oil, Gas & Coal) Copper Price (London Metals Exchange) Iron Ore Daily (Chicago Mercantile Exchange) Dalian Commodity Exchange - click for a detailed live Iron Ore trend (Yuan) key-indicators $A, COPPER, GOLD AND BITCOIN RISE; FEDERAL RESERVE LEAVES INTEREST RATES ON HOLD, SIGNALS ONLY ONE CUT IN 2024 BUT FOUR NEXT YEAR; ARIARNE TITMUS SETS NEW 200M FREESTYLE WORLD RECORD IN OLYMPIC SWIMMING TRIALS; AUSTRALIA DEFEATS NAMIBIA IN JUST 5.4 OVERS IN T20 WORLD CUP MATCH Latest updates on Key Economic Indicators - Page Online : 13 June 2024 Roy Morgan Summary Australian Dollar: $0.6660 USD (up 0.0050 USD) Iron Ore Jul Spot Price (SGX): $104.55 USD (up $0.35 USD) Oil Price (WTI): $78.32 USD (up $0.14 USD) Gold Price: $2,324.24 USD (up $7.44 USD) Copper Price (CME): $4.5350 USD (up $0.0180 USD) Bitcoin: $68,479.56 USD (up 1.80% in last 24 hours) Dow Jones: 38,712.21 at 5.19pm NY time (down 35.21 points on yesterday's close) All changes compared to 7am yesterday. Top government-education-health PM PLAYS DOWN CHINESE-OWNED LITHIUM PLANT The Australian Financial Review - Page 5 : 13 June 2024 Original article by Andrew Tillett Roy Morgan Summary Chinese Premier Li Qiang will visit a lithium processing plant at Kwinana during his official trip to Australia. The plant's major stakeholder is a China-based company, and Prime Minister Anthony Albanese has rejected suggestions that the federal government's Future Made in Australia policy is being undermined by Chinese investment in critical minerals projects. He says Labor values foreign investment, although he adds that the nation must "move up the value chain" rather than merely exporting mineral resources. Top The Guardian Australia - Page Online : 13 June 2024 Original article by Roy Morgan Middleton, Josh Butler Roy Morgan Summary The Coalition's stance on climate policy is under scrutiny after Opposition leader Peter Dutton indicated that its 2030 emissions reduction target will not be disclosed until after the federal election. Prime Minister Anthony Albanese has criticised his refusal to commit to a firm emissions target; he contends that Dutton cannot be taken seriously as the alternative prime minister without a serious policy on energy and climate. However, the Coalition has emphasised that it remains committed to the Paris climate agreement and a net zero emissions target of 2050. [Click to view full article here] Top WEEKLY ROY MORGAN MARKET VIDEO Market Research Update - Page Online : 13 June 2024 Original article by Roy Morgan Roy Morgan Summary Roy Morgan CEO Michele Levine talks through the latest data and insights, including Federal Voting Intention (support for the ALP on a two-party preferred basis is up 1.5% to 53.5%, ahead of the Coalition on 46.5%), Consumer Confidence (down 3.5pts to 77.0), Inflation Expectations (down 0.2% to 4.8% this week) and Unemployment. View all of the press releases and data mentioned in this video at Top ANZ-ROY MORGAN CONSUMER CONFIDENCE PLUNGES 3.5PTS TO 77.0 IN THE FIRST FULL WEEK OF WINTER - LOWEST SO FAR THIS YEAR Market Research Update - Page Online : 13 June 2024 Original article by Roy Morgan Roy Morgan Summary ANZ-Roy Morgan Consumer Confidence fell 3.5pts to 77.0 in the week to 9 June, and it has now spent a record 71 straight weeks below the mark of 85. However, Consumer Confidence is still 4.3 points above the same week a year ago (72.7), but 5 points below the 2024 weekly average of 82.0. Consumer Confidence dropped sharply in Victoria, WA and SA, and down in NSW, but it was unchanged in Queensland. Now 19% of Australians (down 2ppts) say their families are 'better off' financially than this time last year, while 53% (up 2ppts) say their families are 'worse off'. Looking forward, 27% (down 4ppts) of Australians expect their family to be 'better off' financially this time next year (the lowest figure for this indicator so far this year), while 36% (up 1ppt) expect to be 'worse off' (the highest figure for this indicator so far this year). Now 7% (down 1ppt) of Australians expect 'good times' for the Australian economy over the next 12 months (the lowest figure for this indicator so far this year, while 39% (up 4ppts) expect 'bad times' (the highest figure for this indicator so far this year). Meanwhile, 22% (up 1ppt) of Australians say now is a 'good time to buy' major household items, while 51% (up 2ppts) say now is a 'bad time to buy'. [Click to view full article here] Top AUSTRALIAN EMPLOYMENT INCREASES TO A NEW RECORD HIGH OF OVER 14.3 MILLION; DRIVING A DROP IN UNEMPLOYMENT TO 8.7% IN MAY Market Research Update - Page Online : 13 June 2024 Original article by Roy Morgan Roy Morgan Summary In May 2024, Australian 'real' unemployment fell 170,000 to 1,365,000 (down 1% to 8.7% of the workforce), as overall employment increased to a new record high above 14.3 million. In addition to the decrease in unemployment, there was also a welcome decrease in under-employment, which was down 256,000 to 1,338,000. These combined decreases mean that 2.7 million Australians (17.2% of the workforce, up 1%) were unemployed or under-employed in May - the lowest level of total labour under-utilisation since April 2022 (2.63 million). Meanwhile, employment increased by 78,000 to a new record high of 14,310,000 in May. A rise in full-time employment drove the increase (up 112,000 to a new record high of 9,441,000), while part-time employment was down 34,000 to 4,869,000. [Click to view full article here] Top 'WE'LL LIFT SOCIAL MEDIA ACCESS AGE IN FIRST 100 DAYS': DUTTON The Australian - Page 4 : 13 June 2024 Original article by Sarah Ison Roy Morgan Summary Opposition leader Peter Dutton says legislation to ban children under the age of 16 from accessing social media would be a top priority for a Coalition government. Dutton says the Coalition will introduce such legislation within its first 100 days in office if it wins the next federal election. Communications Minister Michelle Rowland contends that many social media platforms already have age limits, but they are often not enforced and can be easily bypassed. She notes that the federal government is investing $6.5m in a trial of age assurance technology. Top DUTTON TOOK $23K PRIVATE JET TO TAMWORTH WHERE HE SPOKE ON COST-OF-LIVING CRISIS The Guardian Australia - Page Online : 13 June 2024 Original article by Josh Butler Roy Morgan Summary The taxpayer-funded travel expenses of federal politicians is under renewed scrutiny following the release of the latest data from the Independent Parliamentary Expenses Authority. The figures show that Prime Minister Anthony Albanese claimed $911,708 worth of travel expenses in the September quarter; Albanese made a number of official overseas trips during this period. Opposition leader Peter Dutton claimed a total of $809,587 worth of travel expenses for the quarter, including $199,694 on 'unscheduled commercial transport. Amongst other things, he claimed $23,300 for a charter flight from Canberra to Tamworth to attend the annual bush summit on regional and rural issues; the event was sponsored by Gina Rinehart's Hancock Prospecting. [Click to view full article here] Top 'WEAK' PM, ALLAN BLAMED AS SETKA 'LOSES PLOT' OVER AFL The Australian Financial Review - Page 3 : 13 June 2024 Original article by David Marin-Guzman, Patrick Durkin Roy Morgan Summary The AFL has expressed support for its head of umpiring, Stephen McBurney, amid threats from the CFMEU to launch a 'work-to-rule' campaign on league-related construction projects unless he is sacked. McBurney is the former head of the Australian Building & Construction Commission, and the CFMEU's Victorian state secretary John Setka has described him as 'anti-worker'. Opposition Leader Peter Dutton says the CFMEU is "out of control" and accused Prime Minister Anthony Albanese of being too weak to stand up to a "union bully". The Victorian Opposition has in turn criticised Premier Jacinta Allan for failing to condemn the union's actions. Top UNION LAUNCHES BHP 'SAME PAY' CHALLENGE The Australian Financial Review - Page 10 : 13 June 2024 Original article by David Marin-Guzman Roy Morgan Summary The Mining & Energy Union has filed 10 applications in the Fair Work Commission to increase the wages of BHP's labour hire workers under the federal government's 'same job, same pay' laws. The initial applications cover about 1,700 workers at three of BHP's coal mines in Queensland's Bowen Basin who are employed by WorkPac, Chandler McLeod and BHP's own Operations Services subsidiary. The union is pushing for these workers to receive pay rises of between $10,000 and $40,000 in order to achieve pay parity with BHP's direct employees. The MEU is expected to make further applications against BHP. Top BIG TRANSPORT COST RISES AHEAD AS TRUCKIES FACE SHAKE-UP The Australian - Page 24 : 13 June 2024 Original article by Robert Gottliebsen Roy Morgan Summary The greater flexibility and efficiency of independent truck drivers compared with large trucking companies has helped to keep Australia's road transport costs down over the last decade or so. However, independent truckies are set to come under renewed attack when the federal government's workplace reforms take effect from 26 August. The industrial relations changes will give unprecedented power to unions, and many observers in the transport industry expect this to result in the sector's costs rising by at least 10 per cent. These costs will inevitably be passed on, ensuring that inflation remains above the Reserve Bank's target range. Top PRIVATE SCHOOLS OPPOSE RIGHT TO DISCONNECT FOR TEACHERS The Age - Page Online : 13 June 2024 Original article by Olivia Ireland Roy Morgan Summary The states' independent school associations have made a joint submission to the Fair Work Commission regarding the addition of an employee's 'right to disconnect' to industry awards. The associations have called for the flexibility of current teachers' award provisions to be retained, in order to ensure that private schools' staff can continue to supervise pupils outside of standard working hours, such as weekend sports and school trips. The federal government's Closing Loopholes legislation enshrined a right to disconnect in the Fair Work Act. Top INQUIRY CALLS FOR STRICT NEW RULES FOR THE BIG FOUR CONSULTING FIRMS The Australian Financial Review - Page 8 : 13 June 2024 Original article by Edmund Tadros, Maxim Shanahan Roy Morgan Summary The final report of a Senate inquiry into the consulting industry has made 12 recommendations to overhaul the sector. The inquiry found that Australia's four major consulting firms operate in a 'grey area', and they should be subject to stricter regulation that is more line with corporations of their size and influence. Other recommendations include greater scrutiny of government contracts worth more than $2m and parliamentary approval for procurement contracts worth over $15m. The final report was originally slated to be released in November; the inquiry was held in response to PwC's tax leaks scandal. Top AUSTRALIAN LIVE SHEEP EXPORT BAN COULD SET A 'CONCERNING PRECEDENT', INDUSTRY WARNS The Guardian Australia - Page Online : 13 June 2024 Roy Morgan Summary The first day of public hearings into the federal government's legislation to phase out live sheep exports has heard evidence from farm lobby groups and animal welfare advocates. Jo Hall from Wool Producers Australia said the proposed ban is based on ideology and emotion rather than facts, and contends that the live sheep export industry has made significant improvements over the last five years. However, Melanie Latter from the Australian Veterinary Association said that while mortality rates have improved, the number of sheep experiencing health issues in transit is still unacceptable. Chris Parker from Cattle Australia in turn warned that a ban on live sheep exports could eventually be extended to other agricultural exports. [Click to view full article here] Top SOUTH AUSTRALIA INTRODUCES 'WORLD-LEADING' BILL TO BAN POLITICAL DONATIONS FROM ELECTIONS The Guardian Australia - Page Online : 13 June 2024 Original article by Sarah Basford Canales Roy Morgan Summary The South Australian government plans to amend its electoral laws to ban donations and gifts to registered political parties, MPs and election candidates. premier, Peter Malinauskas says his government "wants money out of politics", while he added that it is "something that democracies everywhere should be pursuing". The federal government has previously committed to capping election donations and the introduction of 'truth in political advertising' laws. [Click to view full article here] Top CUT RATES NOW, DICK TELLS RBA The Australian - Page 8 : 13 June 2024 Original article by Lydia Lynch Roy Morgan Summary Queensland's Treasurer Cameron Dick says the Reserve Bank of Australia should reduce official interest rates at its two-day board meeting next week. Dick has urged the RBA to ease monetary policy as quickly as possible in order to "ease the pain" on the state's families and businesses. Dick has defended the $11.2bn cost-of-living measures in his fifth budget, reiterating that they will not be inflationary. Joe Branigan from Tulipwood Economics rejects this view, contending that any savings that consumers derive from lower household expenses will largely be redirected to other expenditure. Top business-retail-telco-agriculture EDGY INVESTORS AWAIT RELEASE OF KEY US DATA The Australian Financial Review - Page 24 : 13 June 2024 Original article by Joanne Tran Roy Morgan Summary The Australian sharemarket lost ground on Wednesday, as investors awaited the release of the latest US inflation data and the outcome of the Federal Reserve's two-day policy meeting. A fall in the iron ore price also weighed on the S&P/ASX 200, which shed 0.5 per cent to close at 7,715.5 points. Fortescue was down 1.3 per cent at $23.29 and Rio Tinto fell 1.5 per cent to $121.04. However, Woodside Energy rose 2.6 per cent to $27.79 and Bapcor added one per cent to end the session at $5.02. Top SLOWING ECONOMY PUTS RBA RATE CUT ON CARDS: MINACK The Australian Financial Review - Page 25 : 13 June 2024 Original article by Jonathan Shapiro Roy Morgan Summary Market strategist Gerard Minack says monetary policy in Australia is "very restrictive" at present, noting that official interest rates are still lower than comparable countries. Minack addressed the Morgan Stanley Australia summit on Wednesday, stating that he expects the Reserve Bank to reduce the cash rate later in 2024 or in early 2025. Meanwhile, Morgan Stanley economist Chris Read said the central bank could increase the cash rate if inflation rises again. Market traders have fully priced in the cash rate remaining on hold until the end of 2024, and a rate cut in May 2025. Top ADBRI SHAREHOLDERS TICK $2.1BN TAKEOVER The Australian - Page 18 : 13 June 2024 Original article by Giuseppe Tauriello Roy Morgan Summary Nearly 98 per cent of votes cast at a meeting of Adbri shareholders on Wednesday were in favour of a takeover bid from Dublin-based building materials group CRH. The offer of $3.20 per share valued the listed cement group at almost $2.1bn; the deal had been endorsed by Adbri's 43 per cent shareholder, Barro Group, which will retain its stake in the company after it is delisted. The Foreign Investment Review Board recently approved CSR's $4.32bn takeover by France-based Saint-Gobain, while Boral is also set to be delisted following its acquisition by Seven Group Holdings. Top THE UNION STRONGARM GRIPS VIRGIN The Australian - Page 1 & 4 : 13 June 2024 Original article by Robyn Ironside, Ewin Hannan Roy Morgan Summary The Transport Workers' Union has expressed concern that Paul Jones has emerged as the only remaining internal candidate to succeed Virgin Australia CEO Jayne Hrdlicka. Jones was previously at Qantas, and he was the executive manager of freight and airports when the airline decided to outsource nearly 1,700 ground-handling jobs. The TWU pursued legal action against Qantas, and the Federal Court subsequently ruled that the outsourcing was unlawful. The TWU's national secretary Michael Kaine has written to a partner at Virgin's owner Bain Capital raising his concerns about the potential appointment of Jones, nothing that the Federal Court's Justice Michael Lee had concluded that he was an unreliable witness. Top media-marketing-arts NEWS CORP TO CUT SALES STAFF, UP TO 80 JOBS TO GO The Age - Page Online : 13 June 2024 Original article by Calum Jaspan Roy Morgan Summary News Corp Australia is set to announce further redundancies as part of a restructuring program and its push to reduce costs by up to $65m. The media group's sales team is expected to bear the brunt of the latest jobs cuts, with speculation that up to 80 employees will be retrenched. However, a News Corp spokesperson has dismissed claims that 40 per cent of its sales personnel will be sacked. News Corp Australia's executive chairman Michael Miller recently downplayed speculation that more than 100 journalists will also be retrenched. Top PARAMOUNT RETHINK DUE AFTER SKYDANCE SNUB The Australian Financial Review - Page 20 : 13 June 2024 Original article by Christopher Palmeri, Thomas Buckley Roy Morgan Summary Shares in Paramount global have fallen by nearly eight per cent after chair Shari Redstone rejected a takeover offer from Skydance Media. Paramount's shares are trading at around $US11.04, compared with $US69.36 in 2017. Redstone had initially favoured the Skydance deal, regarding it as being in the best interests of her family, which owns 77 per cent of Paramount's voting shares via the National Amusements holding company. However, Redstone will eventually need to make a deal regarding Paramount, given that its debt exceeds $US14bn; National Amusements' own debt is almost $US200m. Paramount's assets include the Ten Network in Australia. Top resources-energy SAGGING IRON ORE PRICES WEIGH ON LOCAL BOURSE The Australian - Page 23 : 13 June 2024 Original article by David Rogers Roy Morgan Summary The iron ore price reached a two-month low of $US103.35 per tonne earlier this week, weighing on the Australian sharemarket and the nation's largest mining companies. Vivek Dhar from the Commonwealth Bank says the downturn in the iron ore price is probably due to ongoing concerns about China's property market, despite recent government stimulus measures. Dhar believes that the iron on price will not rise sustainably above $US110 per tonne unless the Chinese government pursues additional infrastructure stimulus measures. Top ISLANDERS' LAWYERS SHOULD PAY COSTS: SANTOS The Australian Financial Review - Page 6 : 13 June 2024 Original article by Hannah Wootton Roy Morgan Summary Oil and gas group Santos contends that the Environmental Defenders Office rather than the plaintiffs should pay its legal costs in the long-running dispute over Barossa gas project in the Timor Sea. The EDO represented a group of Tiwi Islanders in the case, which was dismissed by the Federal Court in January. Santos's lawyer Vanessa Whittaker has told the court that the EDO's standard of conduct in the case was so bad that it should face "cost consequences". Santos is seeking a subpoena to access EDO documents relating to the case. Top construction-property RISE IN NEW LISTINGS BUOYS HOUSING MARKET The Australian - Page 17 : 13 June 2024 Original article by Matt Bell Roy Morgan Summary Data from PropTrack shows that residential property listings across Australia's capital cities increased by 6.5 per cent month-on-month in May. The number of new listings was also 18.5 per cent higher than the same period in 2023. PropTrack's senior economist Paul Ryan says vendor confidence has been boosted by factors such as favourable market conditions and the interest rate outlook, amid growing expectations that the cash rate will remain on hold in the near-term. Top NICHOLAS CHEVALIER: THE ROY MORGAN COLLECTION AT THE GALLERY OF FITZROY - BY APPOINTMENT Nicholas Chevalier, recognised as the first Australian Impressionist, created a wide array of artwork consisting of Paintings, Sketches, Etchings, Wood-cut engravings and Lithographs during his career. Chevalier began his artistic life in Europe in 1848 and continued during his time in Australia from 1854-1869. Chevalier departed Australia in 1869 with the Duke of Edinburgh travelling to New Zealand, Pacific Islands, Hawaii, Japan, China and Asia before settling in Hyde Park, London in 1871 where he became the Royal Artist for Queen Victoria. Amongst the most well-known works of Chevalier works was The Marriage of the Duke of Edinburgh in St Petersburg in January 1874 - the only artistic recording of the wedding of the son of Queen Victoria - which she did not attend herself. Nicholas Chevalier, The Roy Morgan Collection, is now on display at The Gallery of Fitzroy, 87-89 Moor Street, and showcases 12 oil and watercolour paintings of Chevalier plus many original sketches and etchings published in his 1848 Bavarian Sketchbook, Melbourne Punch (1855-1861), The News Letter of Australasia (1856-1861) and The Illustrated Journal of Australasia (1858). To learn more or view the works of Nicholas Chevalier, see the review of the Chevalier Exhibition where it was displayed for a short period in the East Melbourne Library by renowned historian Geoffrey Blainey available here. Viewing by group appointment is available by calling Ryan Lowery on 0425 773 177. View Nicholas Chevalier: The Roy Morgan Collection catalogue covering Melbourne, Country Victoria, New Zealand/Pacific Islands, Egypt and Tunisia from 1855-1869 available here. Nicholas Chevalier You are receiving this email on [email protected] as a part of your Daily News Summary subscription. Roy Morgan offers daily news summary across a wide range of industry categories, you can manage your daily emails or, if you choose, you can at any time. Roy Morgan Daily News Summary is published by Roy Morgan Research Tonic House, 386 Flinders Lane, Melbourne, Victoria, 3000. Phone: (Australia) 1800 633 813, (Overseas) +61-3-9629-6888.