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 IRON ORE, OIL, GOLD, COPPER AND BITCOIN FALL; ISRAELI FORCES BOMBARD GAZA CITY AS TANKS RE-ENTER CENTRAL AREA; RUSSIAN MISSILES KILL 33 IN UKRAINE, GUT KYIV CHILDREN'S HOSPITAL; MACRON ASKS FRENCH PM TO STAY ON AS POLITICAL DEADLOCK CONTINUES; ALEX DE MINAUR THROUGH TO WIMBLEDON QUARTER-FINALS FOR FIRST TIME WITH GRITTY FOUR-SET WIN Latest updates on Key Economic Indicators - Page Online : 9 July 2024 Roy Morgan Summary Australian Dollar: $0.6735 USD (down $0.0003 USD Iron Ore Aug Spot Price (SGX): $108.75 USD (down $1.50 USD) Oil Price (WTI): $82.30 USD (down $0.86 USD) Gold Price: $2,358.93 USD (down $32.66 USD) Copper Price (CME): $4.6035 USD (down $0.0645 USD) Bitcoin: $56,215.84 USD (down 1.75% in last 24 hours) Dow Jones: 39,344.79 (down 31.08 points on Friday's close) All changes compared to 7am yesterday. Top government-education-health 'NOT LABOR THEY ELECTED' AS PEOPLE REEL FROM GAZA WAR The New Daily - Page Online : 9 July 2024 Roy Morgan Summary Fatima Payman says people who voted for a Labor government have told her that it is now not serving their interests, when being asked why the now independent senator was not quitting her seat. Payman quit the Labor Party last week after crossing the floor on the issue of Palestinian statehood, claiming the government was not moving quickly enough on the matter. She claims that it is not just Australia's Muslim and Palestinian communities that are being affected by the war in Gaza, saying it has "been impacting each and every person with a conscience and a heart out there". [Click to view full article here] Top ROY MORGAN POLL: L-NP (52%) TAKES THE LEAD OVER ALP (48%) AFTER ALP DISUNITY ON PALESTINE Market Research Update - Page Online : 9 July 2024 Original article by Roy Morgan Roy Morgan Summary A Coalition Government, with a slim majority, would now win a Federal Election with the two-party preferred vote: L-NP 52% cf. ALP 48%, the latest Roy Morgan survey finds. The Coalition surged after ALP disunity on the conflict between Israel and Hamas led to Senator Fatima Payman to quit the Labor Party last week. Senator Payman crossed the floor a few days before quitting the party when the Greens brought a motion to the floor calling for recognition of Palestinian statehood. Primary support for the Coalition increased 3% to 39.5% this week while the ALP dropped 3% to 28.5%. Support for the Greens increased 0.5% to 13.5%. Support for One Nation increased 0.5% to 5%, support for Other Parties dropped 1% to 4.5% and support for Independents was unchanged at 9%. [Click to view full article here] Top ROY MORGAN CEO MICHELE LEVINE SAYS SENATOR FATIMA PAYMAN'S RESIGNATION FROM THE ALP AFFIRMS THE OLD ADAGE THAT 'DISUNITY IS DEATH' Market Research Update - Page Online : 9 July 2024 Original article by Roy Morgan Roy Morgan Summary In politics it is often said that 'disunity is death' - meaning that a political party that argues with itself will soon be disregarded by the public as a 'safe pair of hands' to be in government. Last week saw the Albanese Government riven by disunity as Senator Payman, elected in 2022 and the only Government Senator to wear a hijab, quit the Parliamentary Labor Party after crossing the floor. The defection has cost Labor a Senator but has also cost the party support in the community. Support for the ALP dropped 3% points to only 26.5% and now trails the Coalition by over 10% points on 39.5% (up 3% points). This is the largest gap between the parties since the Albanese Government won the Federal Election. [Click to view full article here] Top UK POLL REVEALS DANGER FOR LABOR IN MUSLIM VOTE The Australian Financial Review - Page 4 : 9 July 2024 Original article by Tom McIlroy, Gus McCubbing Roy Morgan Summary Analysis by Australian Development Strategies, a company run by election analyst and former Labor senator John Black, suggests the newly formed Muslim Vote organisation could reduce Labor's primary vote down to around just 30 per cent. With UK Labour losing four seats with large Muslim populations to independents in the recent election that it won in a landslide, Black suggests a fall in Labor's primary vote to just 30 per cent could see it lose seats such as Wills in Victoria, as well as threatening it in some of its safest seats, including those held by senior ministers Jason Clare and Tony Burke. Top NO BACKWARD STEP CUTTING MONEY FLOW TO CROOKS: AG The Australian Financial Review - Page 5 : 9 July 2024 Original article by Ronald Mizen Roy Morgan Summary Australia is under international pressure to update its anti-money laundering and counter-terrorism financing laws so that they include accountants, lawyers and real estate agents. Attorney-general Mark Dreyfus will tell the National Press Club on Tuesday that the federal government is not prepared to accept any more delays to its reforms to AML/CTF laws, saying that to do so would amount to aiding terrorists and child abusers. AUSTRAC CEO Brendan Thomas will tell those in attendance that domestic criminals rely on lawyers to conceal illicit funds and beneficial ownership, with those lawyers often working alongside other professionals such as accountants and financial advisers. Top MORE DETAINEES TO LODGE FREEDOM BIDS The Australian - Page 6 : 9 July 2024 Original article by Rhiannon Down Roy Morgan Summary The High Court's NZYQ ruling on immigration detention has already prompted a number of legal challenges, with Federal Court Chief Justice Debra Mortimer having set up a special panel of judges to deal with the growing number of cases. Human rights lawyer Alison Battisson, whose Human Rights for All organisation is representing around 15 non-citizens who have launched unlawful imprisonment claims following the High Court decision, contends many of the 883 people currently in immigration detention might have grounds to launch a legal challenge for their release she contends that non-citizens found to have been wrongfully detained could pursue the federal government for damages. Top THE HIGGINS 'PLAN' TO BURN DOWN THE HOUSE The Australian - Page 1 & 5 : 9 July 2024 Original article by Ellie Dudley Roy Morgan Summary Liberal senator Linda Reynolds is suing former employee Brittany Higgins over a series of social media posts that Reynolds alleges defamed her. Court documents filed as part of the case allege that Higgins and Dave Sharaz 'drip fed' false information to senators Katy Gallagher and Penny Wong as part of a larger plan to destroy Higgins' career and bring down the former Coalition government; Gallagher and Wong were close confidants of then-Opposition leader Anthony Albanese. Reynolds' case is due to commence on 2 August, after a number of failed mediation talks. Top MILITARY 'EXPOSED TO MISSILE THREATS' The Australian - Page 1 & 4 : 9 July 2024 Original article by Ben Packham Roy Morgan Summary The federal government has advised that it will purchase the US-made Switchblade 300 military drone for the nation's armed forces. However, it has cited 'security reasons' for not disclosing the number of drones that will be purchased or what they will cost. Meanwhile, the former chief of air force Geoff Brown agrees with the Defence Strategic Review's conclusion that investing in air and missile defence systems must be a priority. The former chief of army Peter Leahy in turn says military bases in northern Australia will be vulnerable in the event of war in the Pacific region, given that the nation's likely adversaries have extensive and long-range missile capabilities. Top AGAINST A GLOOMY SECURITY OUTLOOK, LEADERS GATHER FOR NATO The Australian Financial Review - Page 6 : 9 July 2024 Original article by Andrew Tillett Roy Morgan Summary NATO will hold its 75th anniversary summit in Washington this week, with the event being held at a time when the outlook for international security is looking somewhat gloomy. Australia will be represented at the summit by Deputy Prime Minister and Defence Minister Richard Marles, after Prime Minister Anthony Albanese decided to stay at home amid a loss of voter support over the cost of living. It is understood that one outcome of the summit will be the NATO leaders' communique attacking China over its support for Russia in its war against Ukraine, with Lowy Institute senior fellow for military studies Mick Ryan stating it is in China's interest that the war goes on for as long as possible. Top KEEP PACIFIC IN BANKING SYSTEM: US The Australian - Page 15 & 19 : 9 July 2024 Original article by Matt Bell Roy Morgan Summary The federal government and the Biden administration are hosting the Pacific Banking Forum in Brisbane, with the two-day summit aimed at ensuring the continued operation of banking services in the Pacific region. US Treasury undersecretary for terrorism and financial intelligence Brian Nelson told the forum that it was essential that Pacific nations remain connected to international banking, amid concerns that 'predatory actors' could seek to exploit gaps in Pacific banking services. For his part, Financial Services Minister Stephen Jones told the forum Australia was committed with the US to ensuring the Pacific had a robust banking system. Top MORE RBA RATE RISES 'UNWARRANTED' AS YARRA CUTS GROWTH OUTLOOK The Australian Financial Review - Page 4 : 9 July 2024 Original article by Ronald Mizen Roy Morgan Summary Yarra Capital's chief economist Tim Toohey has downgraded his growth forecast for the Australian economy to just 1.75 per cent in 2024-25, compared with his previous expectations of 2.25 per cent growth. In contrast, the Reserve Bank anticipates growth of 2.1 per cent in the current financial year, while the federal government's 14 May budget papers show that the Treasury expects the economy to expand by two per cent. Toohey says factors such as a slowdown in employment growth among non-migrant workers and plans to curb the migrant intake could dampen economic growth, and in turn weaken the case for a further tightening of monetary policy. Top NUCLEAR LAWYER SAYS AUSTRALIA WOULD NOT BE STARTING 'FROM SCRATCH' Herald Sun - Page Online : 9 July 2024 Original article by Clare Armstrong Roy Morgan Summary Climate Change and Energy Minister Chris Bowen has contended that amongst other things, legal hurdles could not be overcome quickly enough for the Coalition to achieve its ambitious target of building the first of seven nuclear power stations by 2035. However, expatriate nuclear lawyer Helen Cook argues that agreements and safety regulations that are already in place would make it easier for parliament to pass the legislative changes that would be required to add nuclear to the energy mix. She notes that Australia has already ratified most of the treaties that would be required to build and operate nuclear reactors. Top THREAT TO POWER TRIANGLE The Australian - Page 25 : 9 July 2024 Original article by Robert Gottliebsen Roy Morgan Summary The Coalition's proposal to introduce divestiture powers targeting large retailers would most likely never be used, because large corporates would respond by changing their behaviour. The Liberal Party has traditionally been closely aligned with large corporations. There is still a relationship, but on an increasing number of issues large Australian corporates are becoming the third side of a power triangle, whereby the other two sides are their large shareholders - large superannuation funds - and the ALP/unions. Large companies will use this triangle to modify the blows of Labor's industrial relations reforms, but small and medium-sized enterprises are in more danger. Top CUTTING-EDGE TECHNOLOGY IS BEING DEPLOYED TO STOP THE ILLEGAL TRAFFICKING OF AUSTRALIAN WILDLIFE abc.net.au - Page Online : 9 July 2024 Original article by Tom Hartley Roy Morgan Summary Wildlife trafficking is the fourth-largest organised crime globally according to the Adelaide University's Wildlife Crime Research Hub, worth around $450 billion a year. The number of Australian species being traded internationally is estimated to be in the thousands, with cockatoos and other native Australian parrots particularly popular. DNA testing is one of the technologies being used to try to curb the illegal trafficking of Australian wildlife, with the Wildlife Crime Research Hub having developed a rapid DNA test that allows authorities on the front line to detect illegally-held animals [Click to view full article here] Top LABOR'S LATEST CHARADE AN ACT OF CRONY CAPITALISM The Australian - Page 13 : 9 July 2024 Original article by Judith Sloan Roy Morgan Summary The federal government's Future Made in Australia (FMIA) legislation has been labelled as an act of crony capitalism and a charade. Treasurer Jim Chalmers contends the rationale for the FMIA is about the "global economy being transformed by the net-zero opportunity", but the latest developments in this area may give him cause for concern. The Canadian opposition is likely to win the next election there and has committed to revoking Canada's carbon tax, while if Donald Trump wins the next US presidential election, he is likely to again withdraw from the Paris climate agreement Top CRACKDOWN ON REMOTE WORKERS' 'SHADOW IT' The Australian - Page 4 : 9 July 2024 Original article by Joseph Lim Roy Morgan Summary The federal Home Affairs Department has issued new standards governing the use of major technology services and social media as part of a crackdown by the government on foreign interference. It is expected that the new standards will result in government entities finding that many of their staff are using uncleared or unapproved software, or shadow IT as it is otherwise known. The use of unapproved software has jumped since the pandemic, when many who worked from home took to using external platforms not approved by their employer to assist them with their work. Top NSW GOVERNMENT TO SELL LAND NEAR SYDNEY CBD TO PRIVATE DEVELOPERS DESPITE AFFORDABLE HOUSING CRISIS abc.net.au - Page Online : 9 July 2024 Original article by Ursula Malone Roy Morgan Summary NSW opposition parties have accused the state government of breaking an election promise, after it sold land to a private developer without any requirement for social or affordable housing to be built. Labor had gone to the 2023 election with a promise that any development on public land would subject to an affordable housing quota. The land in question is located on Parramatta Road in Camperdown and is just 20 minutes away from the Sydney CBD. It was compulsorily acquired by the government as part of the WestConnex project, and has been vacant for the past two years. [Click to view full article here] Top ALLAN SNUBS AIRPORT RAIL FOR SUBURBAN LOOP The Australian Financial Review - Page 6 : 9 July 2024 Original article by Gus McCubbing, Patrick Durkin Roy Morgan Summary Melbourne Airport CEO Lorie Argue says there is no reason why there should be any more delays to the $10 billion Melbourne Airport rail link, after the airport dropped its opposition to a more expensive underground station. However, the project still faces at least four more years of delay, with Victorian Premier Jacinta Allan stating her government would prioritise the $125 billion Suburban Rail Loop. Allan announced on Monday that the state government had chosen a consortium called Terra Verde to construct the next phase of the SRL, which involves the construction of 10-kilometre twin tunnels between Glen Waverley and Box Hill. Top ANDREWS HANDS OVER PHONE RECORDS IN SENSATIONAL BACKFLIP Herald Sun - Page Online : 9 July 2024 Original article by Michael Warner Roy Morgan Summary Former Victorian premier Daniel Andrews has agreed to provide access to his mobile phone records from the day of a car accident in early 2013. A legal challenge to a subpoena requiring Andrews to hand over the records had been scheduled to commence in the Supreme Court on Monday morning, but his lawyers advised the court at the last minute that the records in question would be supplied. The subpoena had required 11 years' worth of mobile phone records to be surrendered, but this has been reduced to just the day of the accident in which a 15-year-old cyclist was hit by the Andrews family's SUV and sustained serious injuries. Top The Guardian Australia - Page Online : 9 July 2024 Original article by Andrew Messenger Roy Morgan Summary Queensland's Opposition leader David Crisafulli used the Liberal National party's state convention on Sunday to announce that an LNP government would adopt an 'adult crime, adult time' policy. It would mean that a child who was convicted of murder would receive a mandatory life sentence under current Queensland laws, but both the Queensland Law Society and human rights lawyer Susan Harris-Rimmer contend that imposing a mandatory life sentence on a child convicted of murder would breach the state's Human Rights Act; Harris-Rimmer says it would also be contrary to the United Nations' convention on the rights of the child. [Click to view full article here] Top NT POLICE COMMISSIONER DECLARES CURFEW IN ALICE SPRINGS AFTER MULTIPLE VIOLENT INCIDENTS abc.net.au - Page Online : 9 July 2024 Original article by Charmayne Allison, Jack Hyslop Roy Morgan Summary Northern Territory police commissioner Michael Murphy has announced a curfew in Alice Springs for three nights, from Monday to Wednesday, between 10pm and 6am. with the curfew to apply to both adults and children. Its imposition comes after a number of violent incidents in recent days, including a police officer being run over outside a bottle shop and the alleged assault of four off-duty police officers by a gang of around 20 people in the early hours of Sunday morning. [Click to view full article here] Top business-retail-telco-agriculture COMMODITY PRICES DRIVE SHAREMARKET DOWN The Australian Financial Review - Page 26 : 9 July 2024 Original article by Joshua Peach Roy Morgan Summary The Australian sharemarket retreated on Monday, with a downturn in commodity prices weighing on investor sentiment; the S&P/ASX 200 shed 0.8 per cent to close at 7,763.2 points. BHP was down 2.1 per cent at $43.48, Santos fell 2.1 per cent to $7.82 and Arcadium Lithium ended the session 4.5 per cent lower at $4.93. However, Ramelius Resources added 1.8 per cent to finish at $1.87 and Red 5 rose 5.3 per cent to $0.395. Top ANALYSTS WARN ON BANK GROWTH The Australian - Page 19 : 9 July 2024 Original article by Cliona O'Dowd Roy Morgan Summary The share prices of Australia's big four banks have risen strongly over the past 12 months, but Macquarie analysts have warned that the earnings outlook for the Commonwealth Bank, the ANZ, Westpac and the National Australia is weak. They note that the likelihood of there being a softer landing for the broader economy has diminished, and that extremely low impairment charges will hinder their earnings recovery in the medium term; Macquarie is underweight the banking sector over that period. Top CBA IGNORED ASIC ON BONUS CAP SCRAP The Australian - Page 19 : 9 July 2024 Original article by David Ross Roy Morgan Summary Documents obtained under freedom of information laws reveal that the Commonwealth Bank ignored the Australian Securities and Investments Commission's efforts to stop it scrapping its banker bonus cap. This was despite ASIC directly raising the issue of the cap being scrapped with the CBA's CEO Matt Comyn and its board. The CBA's banker bonus cap had limited remuneration at 50 per cent of base pay, with the limit imposed as a result of a 2017 Australian Banking Association review. ASIC was warned in mid-2023 that the CBA was seeking to scrap the cap, and in April the CBA increased its banker bonus to up to 80 per cent of base pay in an attempt to stave off competition in the home lending sector from the other big banks, mortgage brokers and Macquarie. Top AVERAGE HOME LOAN SURGES TO RECORD HIGH The Australian Financial Review - Page 30 : 9 July 2024 Original article by Nick Lenaghan Roy Morgan Summary Data from the Australian Bureau of Statistics shows that the average new home loan for owner-occupiers reached a record high of $626,055 nationally in May. The average size of new home loans reached fresh highs in Queensland, South Australia and Western Australia in May. NSW still boasts the nation's highest average home loan, at $767,584; however, this is below the state's peak of $803,235 in early 2022. In contrast, the average home loan in Victoria fell to $601,891 in May, compared with a peak of $651,364 in 2022. Sally Tindall of RateCity notes that home buyers are taking out bigger mortgage loans than ever, despite the cash rate rising to its highest level in 12 years. Top FINANCIAL STRESS 'THROUGH THE ROOF' AS INTEREST RATE HIKES COME HOME TO ROOST abc.net.au - Page Online : 9 July 2024 Original article by David Taylor Roy Morgan Summary The National Debt Line received 145,166 calls in the 2023-24 financial year, the highest number of calls in four years. Financial counsellor Mike Dunkley says he is experiencing his busiest time since he has been with the NDL, with calls increasing over the latter half of 2023 as the impact of interest rate increases began to take their toll. Dunkley says that most of the calls that the NDL gets are about mortgages and rents, while it has also been getting some calls about the Australian Taxation Office in recent months. For his part, Financial Counselling Australia CEO Peter Gartlan notes that the demand on financial counsellors has gone through the roof in recent times [Click to view full article here] Top SUPER SAVINGS TO RIDE OUT YEAR OF ELECTIONS: CIOS The Australian Financial Review - Page 3 : 9 July 2024 Original article by Hannah Wootton Roy Morgan Summary The chief investment officers of Australia's major superannuation funds generally do not expect returns to be significantly affected by elections that will be held in many countries during 2024. They are largely in agreement that short-term political volatility will have little effect on their funds' returns, given that they have a long-term investment outlook. However, some note that a second Trump administration could affect global equity returns, as former president Donald Trump has flagged a new tariff regime on Chinese imports. Top OVERHAUL CALL FOR ASIC FUNDING The Australian - Page 15 & 19 : 9 July 2024 Original article by Cliona O'Dowd Roy Morgan Summary The SMSF Association has expressed support for key recommendations from a Senate inquiry's report on the Australian Securities & Investments Commission. CEO Peter Burgess says the lobby group for self-managed superannuation funds "fully endorses" the proposal to review ASIC's funding model, contending that it is "fundamentally flawed and unsustainable". Burgess says the SMSF Association is also critical of ASIC's enforcement action, particularly with regard to cases such as Dixon Advisory. Top ENERGY LINK WOES SPARK GAS RETHINK The Australian Financial Review - Page 13 & 16 : 9 July 2024 Original article by Angela Macdonald-Smith Roy Morgan Summary Problems with construction of the $2.3 billion EnergyConnect transmission line could force AGL to delay the closure of its Torrens Island B gas power station in Adelaide. The first major transmission line to be built in around 15 years, EnergyConnect has been hit with delays and increased costs, with the Australian Energy Market Operator warning that a 12-month delay in having it connected could worsen the outlook for reliable power supply in South Australia. AGL had been planning to close the Torrens plant in 2026, stating that EnergyConnect would increase the plant's losses, but the delay with EnergyConnect could lead to "some rethinking" by AGL, according to energy systems analyst Dylan McConnell. Top ELECTRIC VEHICLES COULD HELP EASE AUSTRALIA'S ENERGY INSTABILITY BY SENDING POWER BACK TO THE GRID The Guardian Australia - Page Online : 9 July 2024 Original article by Peter Hannam Roy Morgan Summary The ACT government is trialling the use of electric vehicles to put power back into the energy grid, with an incident on 13 February showing how that might work. When strong winds in Victoria brought down transmission lines and closed the state's biggest power station, a fleet of electric vehicles connected to a charger in Canberra began discharging their batteries, sending power back into the grid. As the number of electric cars in Australia increase, particularly those with vehicle-to-grid capability, the nation's energy grid could be looking at a huge and flexible source of power. [Click to view full article here] Top BOEING AGREES TO PLEAD GUILTY IN 737 MAX CRIMINAL CASE The Australian - Page Online : 9 July 2024 Original article by Dave Michaels, Sharon Terlep Roy Morgan Summary Planemaker Boeing has agreed to plead guilty to charges that it misled the US Federal Aviation Administration prior to two crashes involving 737 MAX jets in which 346 people were killed. As part of its plea, prosecutors want Boeing to pay a fine of US244 million ($331 million), and to spend $US 455 million over the next three years on improving its compliance and safety programs. Companies that are convicted of felonies can suspended or barred as defence contractors, and Boeing is tipped to seek a waiver from that stipulation, with figures showing it was awarded Defense Department contracts last year valued at $US22.8 billion. Top UBER PLAN TO CUT PRICES ANGERS DRIVERS The New Daily - Page Online : 9 July 2024 Original article by Matthew Elmas Roy Morgan Summary Ride-share company Uber has informed its drivers that it is changing the time and distance rates used to calculate rider fares as from 7 August, with rates being lower in most cases. Its decision is aimed at boosting demand for its services, but drivers are angry about the plan, claiming it will result in them earning less money. Some state it will see them switch to rival service DiDi, while Transport Workers Union national secretary Michael Kaine contends Uber drivers are paying the price for what is an unregulated market for gig workers. [Click to view full article here] Top EVEN IN THE C-SUITE, SOME WOMEN FEEL DISRESPECTED The Australian Financial Review - Page 3 : 9 July 2024 Original article by Euan Black Roy Morgan Summary Research by employee engagement platform Culture Amp has found that 10 per cent of women in executive-level jobs feel that their views are disregarded, while all C-suite men feel that their opinions are valued. The survey also found that while all C-suite men felt they were respected at their company, 25 per cent of C-Suite women felt they were not. Culture Amp's vice president of equitable operations Aubrey Blanche-Sarellano says that being ignored or interrupted are common examples of disrespect for women in the workplace. Top 'VESTED INTERESTS' AT PLAY IN RISE OF CHRONIC DISEASE The Australian Financial Review - Page 7 : 9 July 2024 Original article by Tony Boyd Roy Morgan Summary Australia is experiencing a surge in chronic disease, with chronic disease costing around $70 billion a year in healthcare treatment. Two in three Australians are overweight or obese and three in 10 adults are not performing recommended levels of physical activity according to a report published in 2022, while the same report found that one in 20 Australians were living with diabetes. Gary Wittert, professor of medicine at the University of Adelaide and senior consultant endocrinologist at the Royal Adelaide Hospital, contends efforts to improve people's health through better diet are being frustrated by 'vested interests', namely the food industry. Top LABOR URGED TO OUTLAW BETTING 'REWARDS' LURING AUSTRALIANS INTO GAMBLING The Guardian Australia - Page Online : 9 July 2024 Original article by Josh Butler Roy Morgan Summary The Alliance for Gambling Reform contends that "bonus bets" and cashback offers by gambling companies are luring people into problem gambling, and it has called on the federal government to ban such inducements. The Alliance contends that gambling companies market such inducements in a way that suggest they encourage prudent betting, but that evidence suggests that uptake of inducement offers is actually linked to more harmful betting behaviours. A 2023 parliamentary committee chaired by the late Peta Murphy called for the government to ban all online gambling inducements and inducement advertising "without delay". but to date no such ban has been implemented. [Click to view full article here] Top media-marketing-arts MEDIAWEEK BOSS 'STEPS BACK' AFTER MISCONDUCT PROBE The Australian Financial Review - Page 16 : 9 July 2024 Original article by Sam Buckingham-Jones Roy Morgan Summary Trade publication Mediaweek has published a statement on its website advising that owner and publisher Trent Thomas has agreed to "step back from his role". The move follows allegations that he had bullied and sexually harassed the publication's staff. Two employees had come forward with allegations of Thomas's inappropriate conduct, which were investigated by two external human resources firms. The findings of the first probe were not released, but the second concluded that on the balance of probabilities Thomas had sexually harassed and bullied one of the complainants. Top HOLLYWOOD ICON PARAMOUNT AGREES $US28BN MERGER DEAL BBC News - Page Online : 9 July 2024 Original article by Peter Hoskins Roy Morgan Summary Paramount Global is to merge with independent film studio Skydance Media to create a new company that will be worth around $US28 billion. The deal will see Paramount's non-executive chair Shari Redstone sell her family company's controlling stake in Paramount, while Skydance Media will invest around $US8 billion in Paramount. Paramount is known for classic films such as Chinatown and the Godfather series, while Skydance Media was its financial partner in recent films such as Top Gun: Maverick and Star Trek Into Darkness. Paramount's assets include CBS, Nickelodeon and Australia's Ten Network. [Click to view full article here] Top resources-energy COPPER BOSS TAKES A SWIPE AT BHP The Australian Financial Review - Page 17 : 9 July 2024 Original article by Brad Thompson Roy Morgan Summary Shares in Rex Minerals rose more than 60 per cent to an intra-day high of $0.445 on Monday, in response to a takeover bid from Mach Metals Australia. The suitor is owned by Indonesia's billionaire Salim family, and is offering $0.47 per share. Rex Minerals' assets include the Hillside copper and gold project in South Australia. Rex Minerals MD Richard Laufmann says large mining companies such as BHP have become much more risk-adverse in recent years, while they are also now more focused on buying operational assets rather than developing greenfields projects. Top SOUTH AFRICA OPEN TO DEALS, BUT NOT LEAKS The Australian Financial Review - Page 36 : 9 July 2024 Original article by Anthony Macdonald Roy Morgan Summary Former BHP executive Alberto Calderon says BHP's recent bid for Anglo American was almost certainly doomed to fail once news of it leaked. This forced BHP to negotiate with the South African government, which would have been reluctant for Anglo American to be taken over, even though it is now headquartered in London and only has a secondary listing in Johannesburg. Calderon believes that the SA government could have been open to the BHP bid, given that in 2023 he successfully negotiated a deal for AngloGold Ashanti to move its primary listing from Johannesburg to New York. Top COPPER IS A BETTER BET THAN IRON ORE AND LITHIUM: BROKER The Australian Financial Review - Page 27 : 9 July 2024 Original article by Joanne Tran Roy Morgan Summary The price of copper on the London Metal Exchange has risen by nearly four per cent in the last week, and UBS is upbeat about the outlook for the base metal. Lachlan Shaw of UBS says the firm expects a supply deficit for 2024 and beyond. Meanwhile, UBS is bearish about iron ore, forecasting that the price of the steel input will fall to between $US90 and $US100 a tonne. The firm also expects 'robust' supply and weak demand to weigh on the lithium price. Top construction-property OVERSEAS LAND BUYERS TAKE CLASS ACTION ON VIC TAX The Australian Financial Review - Page 29 : 9 July 2024 Original article by Michael Bleby Roy Morgan Summary Litigation funding firm CASL is backing a class action in the Federal Court in regard to foreigner stamp duty surcharges and land tax surcharges imposed by Victoria on foreign land buyers since 2015. Buyers from countries such as New Zealand, Norway and Switzerland are covered in the action, which contends the surcharges are a breach of Australia's double taxation commitments; the action seeks the repayments of surcharges imposed since 2015, which could be as much as $500 million. The action is being led by law firm Johnson Winter Slattery, while a spokeswoman for the Victorian Government Solicitor's Office has declined to comment on the case. Top EX-EVERGRANDE CHIEF'S RIVERS OF GOLD FROM GOLD COAST TOWERS The Australian - Page 13 : 9 July 2024 Original article by Primrose Riordan Roy Morgan Summary Wang Zhongming was an early investor in the now failed Chinese property developer Evergrande, and at times took control of some of its subsidiaries. Wang, who once lived in New Zealand but who is now in Texas, has been providing debt finance to AW Holdings, the company behind the Jewel hotel and apartment development in Surfers Paradise. Filings with the Australian Securities & Investment Commission reveal that AW Holdings reported a $133.8 million profit for the year to 31 December from selling and leasing the Jewel, while records show its parent company owed $1.2 billion to Kingsville Global Investments at the end of 2022, with Wang being the ultimate beneficial owner of Kingsville. 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.