Vital Signs: the pros and cons of diversity in organisations
Breaking down the old boys’ club in business, government and other organisations is intrinsically important. Ensuring greater diversity in organisations – on gender, racial, ethnic and other lines – is, simply put, the right thing to do. But some advocates of greater diversity make an extra claim: that it improves the quality of decisions, and…
Regional unemployment: Winners & Losers
Regional unemployment: Winners & Losers Regional jobs Regional jobless rates: Of the 15 SA4 regions with the highest unemployment rates in the land, Queensland had the highest representation with six regions in March followed by NSW (four) and Victoria (three). Sydney – South West had the highest unemployment rate of 11.2 per cent, but the…
Bank watchdog gives guide on climate risk
CANBERRA, AAP – The prudential watchdog has issued draft guidance to banks, insurers and superannuation trustees on managing the financial risk of climate change. Released for consultation, the Australian Prudential Regulation Authority says the guide is designed to assist regulated entities in managing climate-related risks and opportunities as part of their existing risk management and…
Petrol prices ease for school runs.
Petrol prices ease for school runs Second strongest home sales since 2004 Petrol Prices; New home sales; Used vehicle market Fuel prices: Last week the national average price of unleaded petrol fell by 1.6 cents a litre to 142.8 cents per litre (c/l), according to the Australian Institute of Petroleum. Retail unleaded pump prices have…
Big bank bosses vague on Suncorp interest
CANBERRA, AAP – The heads of Australia’s two largest banks are more than happy to talk about how they are assisting customers who may still be suffering hardship after last year’s recession. But when it comes to whether they have any interest extending their operations, they are far less forthcoming. Reports last month suggested Suncorp…
Crown Perth royal commission under way
PERTH, AAP – A royal commission into Crown Perth will examine whether Western Australia’s decades-old gambling legislation remains fit for purpose. The inquiry officially opened on Monday with a brief hearing outlining the scope of evidence to be heard in coming months. It is being led by three commissioners: former Supreme Court justices Neville Owen…
Full overseas travel years away: Deloitte
CANBERRA, AAP – A new report has warned that international travel for Australians is likely to remain restrictive until 2024. Deloitte Access Economics’ quarterly business outlook – printed prior to the Morrison government’s vaccination program being thrown into disarray late last week – expects international borders will re-open only gradually. For Australia, Deloitte economist Chris…
Divergent tides: The ebb and flow of financial markets
Most of the time, financial markets ebb and flow like the tide. All boats are lifted or fall together. On occasions, however, different assets part company, responding to the same influences in divergent ways. The first three months of 2021 has been such a period. Last week, the S&P 500 rose above 4,000 for the…
Scentre investors hit out against exec pay
SYDNEY, AAP – Investors in Westfield-owners Scentre Group have served a ‘first strike’ on executives’ pay, after the company leaders produced a full-year loss and reduced final dividend. Investors participating in the company’s annual general meeting on Thursday cast a 51 per cent vote against executives’ remuneration, following pandemic-plagued results. Chief executive Peter Allen and…
Westpac back in court for ‘junk’ insurance
CANBERRA, AAP – Westpac is being pursued by the corporate watchdog for allegedly selling junk consumer credit insurance. The Australian Securities and Investments Commission commenced proceedings against the bank in the Federal Court on Thursday for alleged misleading and offering unfair sales to almost 400 customers. “ASIC’s deep dive investigations in late 2018 and into…
