Author: roymorgansocial

ABC underpaid 2500 casual staff

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Original article by Max Mason
The Australian Financial Review – Page: 8 : 11-Jan-19

The ABC will undertake a review into how it came to underpay around 2,500 casual employees over the last six years. The public broadcaster’s chief people officer Rebekah Donaldson says it has notified the Fair Work Commission about the issue, and that it is getting in contact with current and former casual employees who might have been affected. The underpayment error was brought to the ABC’s attention by the Community & Public Sector Union; the CPSU’s ABC section secretary Sinddy Ealy says it had been concerned for some time about the ABC’s over-reliance on and payment of casual staff.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. FAIR WORK COMMISSION, COMMUNITY AND PUBLIC SECTOR UNION, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, ACTU

Sunsuper says top-10 approach fair

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Original article by Joanna Mather
The Australian Financial Review – Page: 4 : 11-Jan-19

Scott Hartley, the CEO of industry superannuation fund Sunsuper, has expressed support for a proposal to restrict default super regime to a list of the 10 best-performing funds. However, he says the new system would need to be gradually phased in to reduce risk. The proposed reform has been criticised by Industry Super Australia CEO Bernie Dean, and Willis Towers Watson Australasia’s former CEO Andrew Boal warns of the potential for "unintended consequences".

CORPORATES
SUNSUPER PTY LTD, INDUSTRY SUPER AUSTRALIA PTY LTD, WILLIS TOWERS WATSON, AUSTRALIA. PRODUCTIVITY COMMISSION

BHP silent on reports driver of runaway 268-car iron ore train in Pilbara is pursuing claim of unfair dismissal

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Original article by Stuart McKinnon
The West Australian – Page: Online : 11-Jan-19

BHP has advised that the train driver who was in charge of a Pilbara iron ore train that had to be derailed in November no longer works for the company. However, the resources group has declined to comment on reports that the driver intends to pursue an unfair dismissal case. BHP has indicated that mechanical failure and human error contributed to the incident in which it was forced to deliberately derail the train after it travelled for 50 minutes without a driver.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Labor slams attack on union super

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Original article by John Kehoe, Joanna Mather, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 11-Jan-19

Shadow treasurer Chris Bowen has criticised the Productivity Commission’s proposed changes to the default superannuation fund regime. He says restricting the default fund to a list of the 10-best performing funds is problematic, as returns can vary significantly over a period of time. The PC’s key recommendation is opposed by labour unions, while the Financial Services Council and the Association of Superannuation Funds of Australia have also expressed reservations. However, Treasurer Josh Frydenberg says the proposal has merit and is worth considering.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, FINANCIAL SERVICES COUNCIL, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL OF SUPERANNUATION CUSTODIANS, SUPERANNUATION CONSUMERS’ CENTRE, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC

Towering loophole: taxpayer may foot the bill for defects

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Original article by Sam Buckingham-Jones
The Australian – Page: 1 & 2 : 11-Jan-19

The troubled-plagued Opal Tower is built on land that is owned by the Sydney Olympic Park Authority rather than the apartment building’s developer, Ecove. Legal experts say that under changes to the Home Building Act in 2010, the New South Wales Government may have to bear the costs associated with fixing the tower’s structural defects, as the SOPA is regarded as the developer of the building. The government will receive the report of an independent investigation into Opal Tower on 11 January.

CORPORATES
SYDNEY OLYMPIC PARK AUTHORITY, ECOVE GROUP PTY LTD, ICON CO PTY LTD, NEW SOUTH WALES. DEPT OF PLANNING AND ENVIRONMENT, AUSTRALIA AVENUE DEVELOPMENTS PTY LTD, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, WSP GROUP, CHAMBERS RUSSELL LAWYERS, HOMEBUSH BAY DEVELOPMENT CORPORATION, SUPREME COURT OF NEW SOUTH WALES, BROOKFIELD MULTIPLEX LIMITED

Neobanks set for vault into future

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Original article by Richard Gluyas
The Australian – Page: 15 & 16 : 11-Jan-19

Australia’s traditional banks are set to face growing competition from purely digital banks. The majority of banks that have entered the domestic market in the last decade have been foreign owned, but local ‘neobanks’ are changing the status quo. Volt will seek a full banking licence after gaining a restricted licence in May 2018, and the digital bank aims to have a $3m mortgage loan book within three years. Xinja also recently secured a restricted licence, while 86400 is set for a public launch within three months.

CORPORATES
VOLT BANK LIMITED, XINJA BANK LIMITED, 86400 PTY LTD, CUSCAL, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, UP, MONZO, REVOLUT, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BARCLAYS BANK PLC

Boom time for gas as Australia becomes the major player

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Original article by Perry Williams
The Australian – Page: 18 : 10-Jan-19

Australia surpassed Qatar as the world’s biggest LNG exporter in late 2018. However, Australia faces growing competition from rival nations in the LNG market, with global production capacity set to increase by nearly 35 million tonnes in 2019. An additional 60 million tonnes worth of annual capacity is also set to be approved over the next 12 months. The global economic outlook may also affect both demand for LNG and the price of LNG.

CORPORATES
CHEVRON CORPORATION, INPEX CORPORATION, ROYAL DUTCH SHELL PLC, WOOD MACKENZIE, SAUDI ARABIAN OIL COMPANY

Insurers urge caution over hail sales

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Original article by Lucas Baird
The Australian Financial Review – Page: 5 : 10-Jan-19

Cars that were damaged by a hailstorm that struck Sydney in late December are now being offered by sale by car dealers. However, Youi and Suncorp are among the insurers that have advised consumers to exercise caution when buying hail-damaged cars. They say bargain-hunters should consider factors such as the cost of repairing such vehicles, the likely resale value and whether they will be able to obtain insurance. Both companies have ruled out offering comprehensive insurance for cars that were damaged in the storm.

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, YOUI PTY LTD, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, GIO AUSTRALIA LIMITED, BINGLE.COM PTY LTD

Item 6 – Summer Health Series – Hips don’t lie (but they can hurt!)

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Original article by Zac Jones – BandTherapy
Market Research Update – Page: Online : 10-Jan-19

Do you ever get tight at the front of your hips after a long ride or run? Maybe after an intense workout the next day you struggle to walk with stiffness or pain. If this is the case then chances are you are not connecting the deep muscles of your legs to your spine properly. If you don’t connect these muscles (called iliopsoas) then you have to work twice as hard to move your body. That extra effort just to get things moving can be a key reason why you get tight, stiff and sore in your hips! This also applies if you have had or are considering a hip replacement, because that extra contraction of the muscles around the hip socket without release and access to free movement can render you vulnerable to reinjury and delay rehabilitation. There is no doubt the key areas of the hips and pelvis need to be strong to be able to do everything we ask of them, but too often we confuse strength with rigidity. The best way to approach freeing up the hips so we can move better pain free whilst also developing strength is to read more at https://bit.ly/2BUZWL5

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BHP may lift US oil investment

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Original article by Perry Williams
The Australian – Page: 15 : 10-Jan-19

BHP is tipped to make a final investment decision on an expansion of the Atlantis oil field in the Gulf of Mexico within months. BHP has a 44 per cent stake in the oil field, and speculation that it will proceed with the expansion has been heightened after joint venture partner BP approved the third stage of the project. BP is now the biggest producer of oil in the Gulf of Mexico, with output of 300,000 barrels per day.

CORPORATES
BHP GROUP LIMITED – ASX BHP, BP PLC, PEMEX PETROLEOS MEXICANOS