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 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 IRON ORE AND COPPER RISE; SMALL FALL IN GOLD AND BITCOIN; ISRAELI MILITARY COMMENCES 'TARGETED' AIRSTRIKE IN BEIRUT; FEDERAL PROSECUTORS SAY TRUMP 'RESORTED TO CRIMES' AFTER LOSING 2020 ELECTION Latest updates on Key Economic Indicators - Page Online : 3 October 2024 Roy Morgan Summary Australian Dollar: $0.6880 USD (unchanged) Iron Ore Nov Spot Price (SGX): $108.95 USD (up $1.05 USD) Oil Price (WTI): $71.01 USD (up $0.25 USD) Gold Price: $2,659.01 USD (down $4.71 USD) Copper Price (CME): $4.6630 USD (up 0.0845 USD) Bitcoin: $60,767.49 USD (down 0.15% in last 24 hours) Dow Jones: 42,196.52 at 4.42pm NY time (up 39.55 points on yesterday's close) All changes compared to 7am yesterday. Top government-education-health WAR AND APPEASEMENT The Australian - Page 1 & 4 : 3 October 2024 Original article by Rosie Lewis, Greg Brown Roy Morgan Summary Prime Minister Anthony Albanese says the federal government is very concerned about Iran's ballistic missile attack on Israel and condemns the action. Albanese adds that Israel has a right to defend itself, but he has urged a diplomatic solution to the crisis in the Middle East rather than an escalation of the conflict. He has also called for an immediate ceasefire in both Gaza and Lebanon. The government has 'directly' raised its concerns about Iran's missile attack with the nation's ambassador to Australia, Ahmad Sadeghi. Meanwhile, Opposition leader Peter Dutton says the Coalition "will not waver" in supporting both Israel and Jewish Australians. Top OCTOBER 7 RALLY ORGANISERS TO PUSH AHEAD WITH 'GROTESQUE GATHERING' Herald Sun - Page Online : 3 October 2024 Original article by Jade Gailberger, Carly Douglas, Mitch Clarke, Clare Armstrong Roy Morgan Summary The organisers of a pro-Palestine rally to be held in Melbourne on Monday have refused to back down and reschedule the event. Victoria Police have warned that they lack the power to stop the rally from proceeding on the first anniversary of the Hamas terrorist attacks on Israel, given that the state has no permit system for protests. NSW police are continuing to seek a court order preventing similar rallies being staged in Sydney on the same day. Prime Minister Anthony Albanese says it is not an appropriate date to hold a rally in support of Palestine, while Opposition leader Peter Dutton says the government should do it all can at both state and federal level to stop the rallies from going ahead. Top FORMER MOSSAD DIRECTOR WARNS 'ALL-OUT WAR WITH IRAN' WOULD BE CHALLENGING abc.net.au - Page Online : 3 October 2024 Original article by Paul Johnson Roy Morgan Summary Efraim Halevy is the former director of Israel's intelligence agency, Mossad. Halevy says he was surprised by the scale of Iran's ballistic missile attack on Israel, which was in retaliation for the recent death of Hezbollah leader Hassan Nasrallah in an airstrike on Beirut. Halevy adds that Nasrallah had "deserved" to be assassinated, but he contends that Israeli Prime Minister Benjamin Netanyahu should consider his next steps carefully. Halevy says a full-scale war with Iran would be challenging, and Israel will need to decide whether it is interested in a large-scale response. Meanwhile, the Israeli Defence Force has confirmed that eight of its soldiers have died in combat against Hezbollah in Lebanon. [Click to view full article here] Top ACTU TAKES 'SLEDGEHAMMER TO ECONOMY' The Australian - Page 6 : 3 October 2024 Original article by Ewin Hannan Roy Morgan Summary Business Council of Australia CEO Bran Black has urged the federal government to reject the ACTU's push for further changes to industrial relations laws. They include abolishing junior pay rates, extending the minimum standards for gig-economy workers to freelancers and scrapping non-compete clauses. Black says businesses are still contending with the most recent tranche of IR reforms, and any further changes would boost inflation and stall economic growth if they are not linked to productivity. Top DOUBLE DISSOLUTION ELECTION THREAT IS SERIOUS, SAYS LABOR The Australian Financial Review - Page 5 : 3 October 2024 Original article by Tom McIlroy Roy Morgan Summary The Greens recently blocked the federal government's Help to Buy legislation in the Senate, forcing a vote on the bill to be delayed until November. However, Housing Minister Claire O'Neil has confirmed that Labor intends to reintroduce the bill for a shared equity scheme to the lower house when parliament resumes next week. The bill could potentially be used as a trigger for a double dissolution election, and O'Neil says this remains a "live option". The window for a double dissolution election is very narrow, and the government is likely to stick to the regular election cycle. Top THE SENSITIVE DATA OF AUSTRALIA'S SECURITY PERSONNEL IS AT RISK OF BEING ON-SOLD TO FOREIGN ACTORS abc.net.au - Page Online : 3 October 2024 Original article by Ange Lavoipierre Roy Morgan Summary Research undertaken by the Irish Council For Civil Liberties highlights the national security implications of the Real Time Bidding system used by digital platforms to personalise online advertisements. The report notes that Google and Microsoft both send RTB data on Australian internet users to companies in China, which are required by law to share such information with the central government if they are asked to do so. The report's author Dr Johnny Ryan says the RTB system is a "goldmine" for intelligence gathering, and could be exploited by foreign powers. The Coalition has urged the federal government to take urgent action to address the issue. [Click to view full article here] Top EXPLOITATION OF CHILDREN AND YOUNG PEOPLE STRONG CONTRIBUTOR TO TOXIC LEVELS OF DISTRUST IN SOCIAL MEDIA Market Research Update - Page Online : 3 October 2024 Original article by Roy Morgan Roy Morgan Summary As the Federal government prepares to introduce legislation that would ban social media for young Australians, analysis of six years of data from the Roy Morgan Risk Monitor shows that Australians have long distrusted social media companies, and their perceived exploitation of children is a major reason. Key themes underlying Australia's mistrust of social media include the lack of regulation, the negative effect on self-esteem, targeting of content towards children, and the addictive nature of the platforms. The Roy Morgan Risk Monitor contains hundreds of thousands of verbatim comments from more than 130,000 Australians about why they trust or distrust brands they nominate top-of-mind. A snap poll conducted by Roy Morgan in July 2022 showed that less than three in 10 (29%) Australians agreed that 'social media solves more problems than it creates'. These results were in contrast to public opinion on the internet in general, which showed that almost two thirds (64%) of Australians agreed that 'the internet solves more problems than it creates'. [Click to view full article here] Top ALBANESE TARGETS GROCERY 'SHRINKFLATION' IN BATTLE TO CURB COST-OF-LIVING POLL RISK The Australian Financial Review - Page 5 : 3 October 2024 Original article by Tom McIlroy Roy Morgan Summary The federal government has indicated that it will review the Unit Pricing Code of Conduct, and potentially expand its coverage to include more retailers. The government has been targeting supermarket pricing ahead of the federal election, and Prime Minister Anthony Albanese says that addressing the problem of 'shrinkflation' is part of its strategy to "get a better deal" for consumers. It is a common practice for manufacturers of packaged food and groceries to downsize their products while leaving the prices unchanged or even increasing them. Top CRACKDOWN SEES INTERNATIONAL STUDENT VISA APPLICATIONS PLUMMET The Age - Page Online : 3 October 2024 Original article by Natassia Chrysanthos Roy Morgan Summary New data shows that the number of offshore applications for student visas fell to 18,697 in July, compared with 36,207 during the same period in 2023. The downturn continued in August, with the number of applications falling from 30,703 a year earlier to just 15,270. The sharp fall has coincided with the federal government's push to rein the number of international students in Australia via measures such as doubling the student visa student application fee and capping international student numbers. Top VICTORIA SLUMPS BEHIND THE REST IN NEW BUSINESS The Australian Financial Review - Page 1 & 8 : 3 October 2024 Original article by Gus McCubbing, Patrick Durkin Roy Morgan Summary Data from the Australian Securities & Investment Commission shows that the average number of new businesses that were registered per 1,000 existing firms in Victoria during the year to September was 80.5. This compares with an average of 99.8 in South Australia and 98.2 in Queensland. Independent economist Saul Eslake says factors such as lack of confidence in starting up a business in Victoria or the state government's tax hikes may be to blame. Shadow treasurer Brad Rowswell says Victoria has the highest business taxes of any state, which is clearly having an impact on investment decisions. Top business-retail-telco-agriculture ASX DIPS ON OIL FEARS; WOODSIDE, SANTOS RISE The Australian Financial Review - Page 20 : 2 October 2024 Original article by Cecile Lefort Roy Morgan Summary The Australian sharemarket lost ground on Wednesday, with the S&P/ASX 200 easing 0.1 per cent to close at 8,198.2 points. Qantas was down 2.7 per cent at $6.95 and National Australia Bank fell 0.4 per cent to $36.98. However, energy stocks rallied in response to a spike in the crude oil amid fears that the conflict in the Middle East will escalate; Woodside Energy rose 3.1 per cent to $25.91 and Karoon Energy was up 7.5 per cent at $1.64. Top CBA RESHUFFLES EXECUTIVE TEAM, PAVING WAY FOR FUTURE LEADERS The Australian Financial Review - Page 13 : 3 October 2024 Original article by James Eyers Roy Morgan Summary The Commonwealth Bank of Australia has announced several changes to its executive team. CBA's head of institutional banking Andrew Hinchcliff will become chief risk officer role; his existing role will be filled by chief operating officer Sinead Taylor. The executive reshuffle could position Hinchliff and Taylor as potential contenders to succeed CEO Matt Comyn when he eventually steps down. Comyn has been CEO since 2018, and recently stated that he remains fully committed to the bank. Matthew Wilson from Jefferies expects Comyn to remain at the helm for at least another three years. Top TRADING IN A MILLION NAMOI COTTON SHARES CANNED IN TAKEOVER STUFF-UP The Australian Financial Review - Page 21 : 3 October 2024 Original article by Joshua Peach Roy Morgan Summary Netherlands-based commodity trader Louis Dreyfus has increased its stake in Namoi Cotton to more than 50 per cent, after the target's independent board members agreed to support the bid. Rival bidder Olam Agri withdraw from the takeover battle for the listed cotton ginning firm on Tuesday. Meanwhile, the Australian Securities Exchange is under scrutiny after a 'processing error' resulted in Louis Dreyfus's revised takeover offer not being released to the market until about 15 minutes after it opened on Tuesday. About one million Namoi shares changed hands prior to this release, and the ASX was forced to cancel these trades. Top SPC HEADS BACK TO THE ASX FOR THE FIRST TIME IN TWO DECADES The Australian Financial Review - Page 15 : 3 October 2024 Original article by Simon Evans Roy Morgan Summary Iconic Australian canned food company SPC has revealed plans for a three-way merger with the listed Original Juice Company and powdered milk group Nature One Dairy. SPC will list on the Australian sharemarket via a reverse takeover of Original Juice, while it will pay $50m for Nature One. SPC chairman Hussein Rifai will become chairman of the merged entity, while Original Juice chairman Jeff Kennett will step down if shareholders approve the deal. SPC had previously been listed on the ASX until 2005, when it was acquired by Coca-Cola Amatil; SPC was subsequently divested in 2019. Top A LONG LOOK IN THE MIRROR The Australian - Page 21 : 3 October 2024 Original article by Robert Gottliebsen Roy Morgan Summary Many retailers in Australia are struggling, and their CEOs and boards need to ask why this is the case when retail sales are actually rising. Meanwhile, customer loyalty programs are being restored, but retailers do not seem to be paying attention to their shareholders; retailers had recognised in the past that shareholders are their most affluent and best spending customer base, but they no longer offer shareholder discount cards. Retailing in the present environment is about mobilising the spending power of the affluent, and most shareholders are affluent. Top RENEWABLES' HALF-HOUR OF POWER ON THE EAST COAST The Sydney Morning Herald - Page Online : 3 October 2024 Original article by Nick Toscano Roy Morgan Summary Data from the Australian Energy Market Operator shows that the proportion of electricity generated via renewables briefly reached a record high of 73.87 per cent on Tuesday. Rooftop solar accounted for 43.1 per cent of electricity generation in the east coast market for a 30-minute period from 11.30am, ahead of solar farms (19.8 per cent) and wind turbines 8.6 per cent). Coal and natural gas fell to a record low of just 26.1 per cent of the east coast energy mix during this period. However, Dylan McConnell from the University of NSW contends that the nation's energy transition is not occurring quickly enough. Top media-marketing-arts NOISE FROM NEW HOBART AFL STADIUM WILL RUIN SYMPHONY ORCHESTRA'S HISTORIC CONCERT HALL, CEO FEARS The Guardian Australia - Page Online : 3 October 2024 Original article by Kelly Burke Roy Morgan Summary The Tasmanian Symphony Orchestra fears that its purpose-built concert hall will be adversely affected by the proposed construction of a new sports stadium at Macquarie Point in Hobart. The $775m stadium will be the home ground of the Tasmanian Devils, which is set to become the AFL's 19th team. However, the stadium will be located just 40 metres from the concert hall; two independent acoustic reports that were commissioned by the TSO have concluded that the concert hall will be affected by noise from the stadium both during construction and when it opens in 2029. [Click to view full article here] Top resources-energy PALADIN'S $1.5B URANIUM DEAL SLOWED BY NATIONAL SECURITY PROBE The Australian Financial Review - Page Online : 3 October 2024 Original article by Peter Ker Roy Morgan Summary Paladin Energy had expected to complete a deal to acquire Toronto-listed Fission Uranium by the end of September. However, the timetable for closing the $1.5bn deal is uncertain following the Canadian government's decision to initiate a national security review of the transaction. A Chinese state-owned entity has a 25 per cent stake in Paladin's flagship Langer Heinrich uranium mine in Namibia; another such company holds an 11 per cent stake in Fission and tried to block the Paladin deal. Top BUNDABERG COAL MINE PLAN LEAVES SOUR TASTE IN SUGAR CITY The Australian - Page 13 & 20 : 3 October 2024 Original article by Glen Norris Roy Morgan Summary Fox Resources will contest the Queensland government's decision to block its proposed exploration program at coking coal tenements near Bundaberg. Fox Resources wants to drill five bore holes and undertake technical studies at the site; the company contends that its exploration program will meet the highest environmental and regulatory standards. However, the state government recently said its preliminary view is that the application is not in the public interest. There is concern about the drilling program among farmers in the region, which produces nearly $2bn worth of crops each year; this includes sugar, nuts and vegetables. Top DARTBROOK COAL BELIEVERS STUMP UP AGAIN The Australian Financial Review - Page 17 : 3 October 2024 Original article by Peter Ker Roy Morgan Summary Australian Pacific Coal will seek to raise $20m from investors to finance the resumption of commercial sales from the Dartbrook coal mine in NSW. The mine had been mothballed by previous owner Anglo American in 2007, and ACQ acquired it in 2015. However, plans to reopen the mine subsequently stalled, and AQC has missed a number of deadlines for resuming production. AQC began stockpiling coal from Dartbrook in early September, and it aims to secure the first commercial sales by the end of 2024. Major shareholder Trepang will subscribe for $3.4m new shares. 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. 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