Banks launch review of their own rule book
CANBERRA, AAP – Banks have flagged tougher industry rules with a major review set to investigate tighter standards two years after the damning banking royal commission. The voluntary code is a set of promises made by a bank about how it will treat its customers, including when they run into financial difficulties and face eviction…
Wind farms hit with fines over SA blackout
ADELAIDE, AAP – The operators of two South Australian wind farms have been ordered to pay more than $1.6 million in penalties for breaching national electricity rules in action taken after the 2016 statewide blackout in South Australia. Pacific Hydro Clements Gap Ltd was hit with a $1.1 million fine for failing to obtain written…
Albanese to pledge path to full employment
CANBERRA, AAP – An elected Labor government will launch an in-depth study charting the path to full employment in a bid to create a post-pandemic jobs boom. Opposition Leader Anthony Albanese has pledged to commission a full employment white paper with input from government, industry and union experts. The report will devise a plan to…
Metcash reports ‘significant’ sales growth
SYDNEY, AAP – IGA Supermarkets owner and distributor Metcash has reported record annual sales driven by an uptick in revenue from its food, liquor and hardware operations. The sales momentum for the 2021 fiscal year ended April has continued into the first eight weeks of the new year, as consumers continued to spend up on…
Vic quarantine facility gets green light
MELBOURNE, AAP – A purpose-built quarantine facility will be constructed in Melbourne’s north and will begin taking returned overseas travellers by the end of the year. Prime Minister Scott Morrison on Friday confirmed the 1000-bed facility will be constructed on the Commonwealth-owned land in Mickleham in Melbourne’s north, next to an existing quarantine facility for…
Super law reform backlash ‘scare tactics’
CANBERRA, AAP – Treasurer Josh Frydenberg has denied newly passed superannuation laws will trap millions of Australians in dud products, branding backlash as “scare tactics”. Australian workers currently often unknowingly open many small accounts and get signed up to default insurance, attracting multiple fees. Under new rules passed in parliament on Thursday, workers will be…
Woolworths taken to court for underpayment
CANBERRA, AAP – Woolworths is facing legal action for allegedly underpaying managers, with the workplace watchdog hunting more than $710,000 in outstanding back pay. The Fair Work Ombudsman has launched Federal Court action against the supermarket giant over allegations it underpaid 70 salaried managers upwards of $1.1 million. The regulator claims $713,395 has not been…
Major outage hits Aussie banks, businesses
BRISBANE, AAP – Australian banks and other businesses including Australia Post and Virgin Australia have been hit by a major telecommunications outage. Westpac Bank, the Commonwealth Bank, St George Bank and the Reserve Bank of Australia were among those affected. ANZ was also offline for about half an hour but has told AAP its services…
Population: Fewest Aussie births in 13 years. Death rate falls
Population: Fewest Aussie births in 13 years; Death rate falls Population What happened? Australia’s population increased by 6,900 people or 0.03 per cent in the December quarter, 2020 to 25,694,393 people. In 2020, Australia’s population grew by 136,300 people – the slowest pace since at least June 1982 when Bureau of Statistics (ABS) records began….
Minimum wage set to rise by $18.80 a week
CANBERRA, AAP – Australia’s lowest-paid workers will receive an $18.80-a-week wage increase. The Fair Work Commission revealed on Wednesday the national minimum wage will rise 2.5 per cent to $772.60 per week or $20.33 an hour. Sectors still under pressure from coronavirus restrictions will have the increase delayed beyond July 1. More than two million…
