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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…

Aust business competitiveness ‘slipping’

SYDNEY, AAP – Australia’s business competitiveness has slipped with the country ranking poorly on company agility, entrepreneurship and management credibility. That’s according to the IMD World Competitiveness Yearbook 2021 which on Thursday ranked Australia 22nd of 64 nations, four places lower than 2020. The study ranked Australia among the worst nations on company agility and…

Wall St mixed after hawkish Fed message

NEW YORK CITY, RAW – Conviction in the strength of the economic recovery has pushed investors into US technology stocks, driving the Nasdaq higher, although a post-Fed hangover limited a subdued S&P. The Dow slipped to a fourth straight closing loss, with investors still processing the Federal Reserve’s unexpectedly hawkish message on monetary policy from…

NSW paramedics plan budget day strike

SYDNEY, AAP – NSW paramedics will continue their wages spat with the state government by only attending the most urgent, life threatening cases on the day the budget is delivered. The Health Services Union says the action on Tuesday follows an “insulting” pay offer from the state government. It will be a repeat of last…

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….

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…

ASX has biggest fall in four weeks

SYDNEY, AAP – Shares had their biggest fall in more than four weeks on the Australian market as investors responded to the prospect of global interest rates moving higher. The benchmark S&P/ASX200 index dropped 0.37 per cent, and mining shares lost 1.8 per cent, after the US Federal Reserve brought forward estimates of higher rates….

Jobless rate slides to 17-month low

Jobless rate slides to 17-month low Labour Force What happened? Employment soared by 115,200 in May after falling by 30,700 in April. The unemployment rate fell from 5.5 per cent to a 17-month low of 5.1 per cent (5.07 per cent to two decimal places). Also of note: The Reserve Bank Governor delivered a speech….

Australia needs more than ‘functional WTO’

CANBERRA, AAP – Better access to India and waking up old alliances on agriculture are next for Australia as it sharpens its trade diplomacy. Australia is tackling the most complex Indo-Pacific environment since World War II, Trade Minister Dan Tehan told an Australian Farm Institute conference in Toowoomba on Thursday. He reiterated Australia’s calls for…

Employment jumps by 115,200 in May: ABS

CANBERRA, AAP – LABOUR FORCE DATA FOR MAY: * Unemployment rate – 5.1 per cent versus 5.5 per cent in April * Underemployment rate (employed people seeking additional work) – 7.4 per cent versus 7.8 per cent * Employment rose 115,200 * Full-time positions rose 97,500 * Part-time employment rose 17,700 * Participation rate (people…