Archived News for Finance Sector Professionals - May, 2016
Chinese firm HNA Aviation will buy a 13 per cent stake in Virgin Australia, after a deal was struck overnight.
SA steel closures assessed
Analysts say it is hard to overstate the impact of the closure of the Arrium steel works.
AMA aims to unfreeze for GPs
The new head of the Australian Medical Association (AMA) says GPs cannot handle frozen Medicare rebates much longer.
West bereft of online services
An auditor’s report has found little to praise about West Australian government websites.
ACCC keeps close eye on Asciano deal
The Australian Consumer and Competition Commission (ACCC) has serious concerns about the $9 billion carve up of Asciano.
Building wealth grows while miners go down
Meriton's Harry Triguboff is now Australia’s richest person after Gina Rinehart’s fortune was savaged.
FSU backs big Royal review
The Finance Sector Union has come out in support of a Royal Commission into the banking sector, in the wake of repeated scandals.
Minor fine for Sigma suits
Two former executives of Sigma Pharmaceuticals have been fined but avoided immediate jail time for falsifying company accounts.
Harsh bargainers reject DV leave
The Minister for Women has rejected a call from Human Rights Commission staff for specific domestic violence leave.
New laws in wage rort crackdown
The Federal Government is cracking down on the kind of wage fraud that has seen 7-Eleven workers systemically ripped-off.
Profit push sours green goals
Researchers say businesses that try to ‘go green’ could find themselves doing more harm than good, if people think the corporations are profiting from the initiatives.
NBN raids could cost jobs
Reports say least two NBN employees will be sacked and arrested within days, as federal police investigate leaks.
Insider sweep catches golfer and gambler
Five-time golf major champion Phil Mickelson has reportedly made almost $US1 million in an insider trading scheme.
Macca's faces unhealthy accusations
An education union official has accused fast food giant McDonald’s of paying its workers below award rates.
Union wants detail on ANZ sacking
ANZ has announced over 200 job cuts in more than 130 locations this week, with 6 separate restructures running simultaneously.
Eight groups grill Government building
Peak bodies are calling on all political parties to commit to long-term infrastructure spending free from political folly.
Survey shows cyber-security lacking
Australia could be rising as a ‘hotspot’ for economic crime, with over ten per cent of Australian organisations reporting losses of at least $1 million.
Palmer calls FTI to court
Clive Palmer, the retiring federal MP and chief spender of other people’s money, is suing the administrators of his Queensland Nickel refinery in Townsville for $1.2 billion.
Advisers call for Linc liquidation
PPB Advisory - the administrators of the failed Linc Energy – says the company should be placed into liquidation.
Telstra pours into Pacific optics
Telstra is building fibre-optic networks across the Asia-Pacific region.
Banks move on lending reviews
Big banks are moving to plug gaps in response to reports that hundreds of mortgages have been approved based on falsified documents about foreign income.