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…
Anti-mine party wins Greenland election
COPENHAGEN, RAW – Greenland’s main opposition party, which opposes a rare earth mining project, has become the biggest in parliament after securing more than a third of votes in a snap election. The election result, closely watched by international mining companies wanting to exploit Greenland’s vast untapped minerals resources, casts doubt on a mining complex…
US calls for global minimum corporate tax
WASHINGTON, D. C., RAW – US Treasury Secretary Janet Yellen says she is working with G20 countries to agree on a global corporate minimum tax rate. In a speech ahead of her first International Monetary Fund and World Bank Spring Meetings as Treasury Secretary, Yellen signalled stronger US engagement on issues from climate change to…
Facebook data on over 500m accounts found
NEW YORK, AP – Details from more than 500 million Facebook users have been found available on a website for hackers. The information appears to be several years old, but it is another example of the vast amount of information collected by Facebook and other social media sites, and the limits to how secure that…
Melbourne suburbs top for shopping online
SYDNEY, AAP – Melbourne postcodes have dominated a list of the suburbs where the most online shopping is delivered across Australia. Five Melbourne suburbs – Point Cook, Cranbourne, Hoppers Crossing, Craigieburn and Doreen – did the greatest amount of online shopping by purchase volume last year, according to Australia Post data. People in these suburbs…
Health union pushes Labor on public jobs
CANBERRA, AAP – The Health Workers Union has threatened legal action after its push to force a future Labor government to rule out funding private health providers was crushed. The right-faction union attempted to derail the ALP’s special platform conference with a last-minute injunction following complaints its numbers should be increased. HWU secretary Diana Asmar…
Vic government rejects Crib Point gas plan
MELBOURNE, AAP – The Victorian government has rejected a proposal from energy giant AGL to build a gas import terminal at Crib point in Western Port. The government said marine discharges from the gas hub would have had “unacceptable effects” on the local environment, including a nearby wetland listed in the Ramsar convention as having…
All eyes on the Non-Farm Payroll this week
US equities were stronger on Friday as the S&P 500 found a fresh record high ahead of a busy data week. The Non-Farm Payroll data – the granddaddy of them all — is set to provide keen direction for risk markets as we enter Q2. After springing a few leaks due to global Covid-19 concerns,…
Banking watchdog keeping eye on housing
CANBERRA, AAP – The banking watchdog isn’t about to slam new restrictions on lending in the face of rising house prices, a parliamentary hearing has been told. House prices were rising at their fastest pace in almost 18 years in February and at the same time mortgage lending was at a record level. Chair of…
