M69 Professional Scientific and Technical Services

EY, Atlassian join corporate exodus home amid virus panic

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Original article by Edmund Tadros Rohan Sullivan
The Australian Financial Review – Page: 13 : 13-Mar-20

Law firm King and Wood Mallesons and technology company Atlassian were among the major companies to send staff home on 12 March, due to concerns that staff may have been exposed to COVID-19. In the case of Atlassian, it closed its two Sydney offices after a service provider reported flu-like symptoms. Media company Nine also sent a small number of Sydney staff after it was disclosed that actress Rita Wilson and her husband actor Tom Hanks had been diagnosed with COVID-19; Wilson had visited Nine’s Willoughby campus earlier in the week.

CORPORATES
KING AND WOOD MALLESONS ATLASSIAN CORPORATION PLC NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Employers order workers to stay at home after China trips

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Original article by Jennifer Duke
The Age – Page: Online : 29-Jan-20

Corporate Australia has responded to the coronavirus by taking a range of measures to protect staff. UBS is among the firms that have asked employees to work from home for two weeks if they have recently visited China. This includes staff who attended the investment bank’s recent Greater China Conference or who travelled to China for the Lunar New Year. The Commonwealth Bank has advised staff to avoid all non-essential travel to China, and to Hubei province in particular.

CORPORATES
UBS HOLDINGS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

ASX100 CEOs already paid more than the average annual salary

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Original article by Killian Plastow
The New Daily – Page: Online : 14-Jan-20

The average CEO of an S&P/ASX 100 company has probably earned more since the start of 2020 than the average worker will earn for the whole year, based on Australian Council of Superannuation Investors figures. Qantas CEO Alan Joyce, Australia’s top-earning CEO in 2018, received as much as 281 workers earning the average wage. Bonuses, which are viewed as ‘at-risk’ pay, account for much of the large amounts that CEOs receive. However, ACSI CEO Louise Davidson notes that over 50 per cent of ASX 100 CEOs received over 70 per cent of their bonuses in the 2018 financial year, suggesting to her that so-called ‘at risk’ pay is "not very risky at all".

CORPORATES
STANDARD AND POOR’S ASX 100 INDEX, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, QANTAS AIRWAYS LIMITED – ASX QAN

Drop hurdle rates or risk missing out

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Original article by James Thomson
The Australian Financial Review – Page: 1 & 7 : 3-Jan-20

Australian Competition and Consumer Commission chairman Rod Sims has urged local companies to lower their ‘hurdle rates’ for investment returns to reflect lower rates. His comments regarding lower hurdle rates echo those of federal Treasurer Josh Frydenberg and Reserve Bank of Australia governor Philip Lowe. Sims says if firms do not adjust their hurdle rates, Australia will forgo business investment, while overseas companies with more realistic hurdle rates will acquire more local assets. Sims has also urged the corporate sector to back his push for new laws that outlaw unfair business practices.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Robots to take 500,000 jobs

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Original article by Jacob Greber
The Australian Financial Review – Page: 7 : 10-Dec-14

The Department of Industry’s "Australian Industry Report 2014" suggests that many white-collar jobs that involve routine tasks could automated in coming years. These include roles such as accountants, bank tellers, supermarket cashiers and pharmacists. Some 78.6 per cent of people in roles that are risk from automation hold a university degree. A report in 2013 found that around 47 per cent of jobs in the US could potentially be replaced by automation

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, OXFORD UNIVERSITY. OXFORD MARTIN SCHOOL

Nine chief’s pay soars to $19.6 million

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Original article by James Thomson, Edmund Tadros
The Australian Financial Review – Page: 13 : 10-Dec-14

The latest executive salary survey by "The Australian Financial Review" shows that Nine Entertainment Company CEO David Gyngell was Australia’s highest-paid corporate executive in 2014. His total remuneration of $A19.6m included a $A2.5m cash bonus associated with the group’s IPO. Arowana International CEO Kevin Chin was paid $A13.3m in total, followed by News Corporation CEO Robert Thomson with total remuneration of $A13.2m

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AROWANA INTERNATIONAL LIMITED – ASX AWN, NEWS CORPORATION – ASX NWS, WESFARMERS LIMITED – ASX WES, WESTFIELD CORPORATION – ASX WFD, GUERDON ASSOCIATES PTY LTD, OAKTREE CAPITAL MANAGEMENT LLC, APOLLO GLOBAL MANAGEMENT LLC

CEO turnover soars in Hayne wake

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Original article by Patrick Durkin
The Australian Financial Review – Page: 2 : 23-Sep-19

Recruitment firm Robert Half has reported that 22 per cent of S&P/ASX 200 CEOs are new from the previous year, up from 20 per cent in 2018. The number of external hires of ASX 200 CEOs has increased, as has the number of CEOs with a background in technology. Just six per cent of ASX 200 CEOs are women, down one per cent, while 14 per cent of ASX 200 CEOs do not hold a diploma or degree.

CORPORATES
ROBERT HALF AUSTRALIA PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AMP LIMITED – ASX AMP, AGL ENERGY LIMITED – ASX AGL, AFTERPAY TOUCH GROUP LIMITED – ASX APT, COMPUTERSHARE LIMITED – ASX CPU, SUNCORP GROUP LIMITED – ASX SUN, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, ARISTOCRAT LEISURE LIMITED – ASX ALL, GOODMAN GROUP – ASX GMG, GPT GROUP – ASX GPT

The $10m men reap benefits of high returns

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 17-Sep-19

Australian Council of Superannuation Investors research reveals Australia’s 10 highest paid CEOs earned over $10 million in realised pay in fiscal 2018, with realised pay including the actual value of vested equity. Only one eligible ASX 100 CEO did not get their bonus in fiscal 2018, compared to six in fiscal 2017. ACSI CEO Louise Davidson says corporate Australia appears to view bonuses as "fixed pay under another name", rather than as a reward for "stretch performance"

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

Ombudsman warning over unfair clauses

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Original article by James Eyers
The Australian Financial Review – Page: 21 : 6-Sep-19

Small business ombudsman Kate Cornell suggests that around 50 per cent of all ‘standard form contracts’ offered to small businesses by service providers outside the banking sector could contain clauses that deemed to be unfair. Carnell says that some of the worst offenders in this regard include companies in the advertising and rubbish removal sectors. She has called on companies that may have unfair terms in their contracts to remove them, as to avoid being sued. Bendigo & Adelaide Bank and the Bank of Queensland are being sued by the Australian Securities & Investments Commission.

CORPORATES
AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, BANK OF QUEENSLAND LIMITED – ASX BOQ, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

BHP only local to make global top 100 list

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Original article by Damon Kitney
The Australian – Page: 19 : 19-Aug-19

BHP is ranked 63rd in PwC’s latest list of the Global Top 100 companies by market value. BHP’s market capitalisation was estimated to be $US131bn at the end of March, according to the PwC report. The resources giant is the only Australian company to have made the latest list, with the Commonwealth Bank falling out of the top 100. Microsoft has topped the list with a market capitalisation of $US905bn ($1.33trn). The US accounts for 54 companies in the list, while 15 are based in China.

CORPORATES
BHP GROUP LIMITED – ASX BHP, PRICEWATERHOUSECOOPERS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MICROSOFT CORPORATION, APPLE INCORPORATED, THE GOLDMAN SACHS GROUP INCORPORATED, GRUPO SANTANDER, JP MORGAN AND COMPANY INCORPORATED, EXXONMOBIL CORPORATION, RELIANCE INDUSTRIES LIMITED, TATA CONSULTANCY SERVICES, SALESFORCE.COM, ELI LILLY AND COMPANY