Spy claim for asylum draws wary response

Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 4 : 26-Nov-19

Prime Minister Scott Morrison says allegations about China’s attempts to interfere in federal politics are "deeply disturbing and troubling". However, he has stressed the need to wait until ASIO concludes an investigation into the claims that Chinese intelligence services offered to fund the federal election campaign of Melbourne car dealer Bo Zhao. A separate claim by Wang Liqiang about Chinese interference in federal politics is also under scrutiny. China has refuted his claim to have been a member of its military intelligence service. Wang is seeking asylum in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIA. DEPT OF HOME AFFAIRS

No way to Wiggle out of sacking

Original article by Ewin Hannan
The Australian – Page: 3 : 25-Nov-19

The Fair Work Commission has thrown out an unfair dismissal claim by a Toyota dealership employee who took personal leave under false pretences. Sean Mamo had requested leave to care for his son, but his employer became aware that Mamo had in fact used the paid day off to take his son out, after photos of them at a Wiggles concert were posted on social media. FWC deputy president Alan Colman said the fact that Mamo claimed a payment to which he was not entitled was sufficient grounds for his dismissal.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED

China will eclipse US economy by 2030, experts say

Original article by Andrew Clark
The Australian Financial Review – Page: 9 : 25-Nov-19

Former foreign minister Gareth Evans is among a number of observers who believe that the Chinese economy will become the largest by 2030. However, he says China will not be the dominant world power by this date. Allan Gyngell, the former head of the Office of National Assessments, adds that the rise of China means that Australia will have to manage its relationship with the nation more carefully. Tensions between the two nations may become strained by revelations that Wang Liqiang has offered to supply details of China’s political interference operations in Hong Kong, Taiwan and Australia if he is granted asylum by the federal government.

CORPORATES
AUSTRALIA. OFFICE OF NATIONAL ASSESSMENTS, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Hanson not sold on union bill

Original article by Ewin Hannan
The Australian – Page: 4 : 25-Nov-19

Centre Alliance senator Rex Patrick has indicated that he will support the federal government’s Ensuring Integrity Bill. He says unions are "very useful organisations" that stand up for workers’ rights, but stresses that they are not above the law. The bill now only requires the support of One Nation or independent senator Jacqui Lambie. One Nation leader Pauline Hanson says her party will consider the government’s final amendments to the bill and consult with unions before deciding its stance.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, ACTU

Activist threat to blockade airport

Original article by Joe Kelly
The Australian – Page: 1 & 4 : 25-Nov-19

Extinction Rebellion has demanded immediate action on climate change in the wake of the recent bushfires. The climate activist group has warned that federal MPs will be prevented from accessing Canberra airport when parliament rises for the year on 5 December unless they take action to shut down the fossil fuel industry and adopt a target of net zero emissions by 2025. Shadow resources minister Joel Fitzgibbon says the latter demand would destroy the Australian economy. The proposed blockade has also been criticised by Liberal-National Party MPs Michelle Landry and Keith Pitt.

CORPORATES
EXTINCTION REBELLION, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Convene COAG over disasters: Albanese

Original article by Joe Kelly
The Australian – Page: 4 : 25-Nov-19

Labor leader Anthony Albanese has called for an emergency meeting of the Council of Australian Governments in the wake of deadly bushfires. He says the agenda for a COAG meeting should include Australia’s preparedness for natural disasters, the development of an action plan on adaptation to climate change, and increased investment in research on natural disaster response, recovery and mitigation. The federal government will provide grants of up to $15,000 to assist farmers and small businesses to recover from the recent bushfires in New South Wales.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Westpac execs still in the money

Original article by Richard Gluyas, Joe Kelly
The Australian – Page: 1 & 2 : 25-Nov-19

Treasurer Josh Frydenberg has stressed the need for accountability over Westpac’s massive breach of anti-money laundering and counter-terrorism financing laws. He notes that in addition to Austrac’s civil prosecution, there is the potential for Westpac executives and directors to be disqualified under the Banking Executive Accountability Regime. Meanwhile, Westpac chairman Lindsay Maxsted says executives’ short-term bonuses will be frozen; however, their long-term bonuses are not expected to be affected. Other measures taken by Westpac in response to the scandal include shutting down the LitePay international fund transfer network.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Lift super to 12pc to defuse age time bomb

Original article by Richard Gluyas
The Australian – Page: 21 : 22-Nov-19

AustralianSuper CEO Ian Silk appeared before federal parliament’s economics committee on 21 November, where he emphasised the need to increase the superannuation guarantee from 9.5 per cent to 12 per cent. He warned that the legislated increase is necessary to avert the ‘economic time bomb’ of the nation’s ageing population, arguing that the pension system alone is not sufficient to provide Australians with a comfortable retirement. Silk also expressed support for consolidation in the super sector, and the exit of funds that consistently underperform.

CORPORATES
AUSTRALIANSUPER PTY LTD, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, INDUSTRY SUPER AUSTRALIA PTY LTD, LIBERAL PARTY OF AUSTRALIA

One Nation backtracks on unions

Original article by David Marin-Guzman
The Australian Financial Review – Page: 5 : 22-Nov-19

The federal government is expected to release proposed amendments to the Ensuring Integrity Bill on 22 November. It is believed to have backed Centre Alliance’s proposal for a demerit points system for unions and officials who breach workplace laws, as well as amendments put forward by One Nation. However, One Nation has withdrawn proposed amendments that would have allowed unions to be deregistered over unprotected industrial action that could have a ‘substantial adverse effect’ on the economy.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, CENTRE ALLIANCE, ONE NATION PARTY, ACTU, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA

Taylor buys off NSW with big energy deal

Original article by Angela Macdonald-Smith, Mark Ludlow
The Australian Financial Review – Page: 11 : 22-Nov-19

The New South Wales government has backed a proposal by federal Energy Minister Angus Taylor to pursue bilateral negotiate bilateral energy and climate policy agreements with each state. NSW Energy Minister Matt Kean had previously advocated an integrated national policy on climate and energy policy, as well as the revival of the shelved National Energy Guarantee. Details of a bilateral deal between the two governments is expected to be disclosed within weeks, and Kean says the deal will be much better for the state than the NEG.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, NEW SOUTH WALES. DEPT OF PLANNING AND ENVIRONMENT, COUNCIL OF AUSTRALIAN GOVERNMENTS, QUEENSLAND. DEPT OF NATURAL RESOURCES, MINES AND ENERGY, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING