O75 Public Administration

China plea to end trade war

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Original article by Glenda Korporaal, Simon Benson
The Australian – Page: 1 : 27-Aug-19

Prime Minister Scott Morrison has welcomed indications that the US and China are open to resolving their trade dispute, but cautions that there have been similar overtures before. Morrison adds that the US has some "legitimate" grievances, and notes that the trade war has had an impact on both the Australian and global economies. President Donald Trump says the Chinese government has asked US trade officials to resume negotiations, adding that the US will begin "talking very ­seriously" with China.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, GROUP OF SEVEN (G-7), RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, HANG SENG INDEX, SHANGHAI COMPOSITE INDEX

Battle builds over penalty rates for hair stylists, beauticians

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Original article by Ewin Hannan
The Australian – Page: 4 : 26-Aug-19

Unions will oppose a bid by employers in the hair and beauty industry to reduce Sunday and public holiday penalty rates. The push, which would reduce wages in the sector by up to $91 a week, has been described as "disgraceful" by Hair Stylists Australia spokeswoman Vanessa Watt; she says hairdressers already receive modest pay and are often victims of wage theft. However, Australian Industry Group CEO Innes Willox contends that the sector has many similarities to the retail and pharmacy industries, whose penalty rates were cut in 2017.

CORPORATES
HAIR STYLISTS AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Red flags for deal that underpaid workers ignored

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 11 : 26-Aug-19

The Construction, Forestry, Maritime, Mining & Energy Union has successfully challenged the Fair Work Commission’s decision to approve an enterprise agreement at A1 Earthworx Mining & Civil. The full bench of the FWC overturned the agreement after ruling that some staff would have been paid at 3.8 per cent below the award rates and it would have limited the employees’ access to Sunday penalty rates. The agreement had been approved by deputy president Geoff Bull, who has been ordered to reconsider the agreement.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, A1 EARTHWORX MINING AND CIVIL

Federal debt boss: why borrowing isn’t easy

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Original article by Adam Creighton
The Australian – Page: 4 : 26-Aug-19

Australian Office of Financial Management CEO Rob Nicholl has rejected suggestions that the federal government’s capacity to increase its borrowings has been boosted by the downturn in bond yields. The yield on 10-year government bonds fell below the cash rate of one per cent earlier in August, and Nicholls argues that demand for government debt has not risen despite a global downturn in bond yields. The federal government is resisting pressure to ramp up its infrastructure spending instead of prioritising a return to a Budget surplus.

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AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT

‘Political shocks turn into economic shocks’: RBA chief

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Original article by Michael Roddan
The Australian – Page: 1 & 4 : 26-Aug-19

Reserve Bank of Australia governor Philip Lowe has told the global monetary policy conference at Jackson Hole in Wyoming that the world is experiencing a period of major political shocks that are turning into economic shocks. Lowe also reiterated the need for governments to provide economic stimulus via infrastructure investment and structural reform, arguing that monetary policy alone is insufficient. Shadow treasurer Jim Chalmers says the federal government lacks a plan to turn around the Australian economy.

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RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, BANK OF ENGLAND, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Treasurer tells CEOs: get positive

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Original article by Michael Roddan
The Australian – Page: 1 & 4 : 26-Aug-19

Treasurer Josh Frydenberg will use a Business Council of Australia speech on 26 August to stress the need for the corporate sector to take action to boost productivity and wages. He will argue that lifting the nation’s average annual rate of productivity growth from about 1.1 per cent at present to 1.5 per cent would boost the economy by $70bn over the next decade and increase real wages by four per cent. Frydenberg will also urge business leaders to increase capital investment, including in new technologies, rather than focusing on returning capital to investors via share buybacks and special dividends.

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AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA

Closure threat over union agreement OK: Fair Work

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 23-Aug-19

The Electrical Trades Union has indicated that it may launch coercion proceedings in the Federal Court regarding an enterprise agreement at New South Wales-based DDP Electrical Services, which excluded the ETU. The Fair Work Commission approved the agreement despite a letter from DDP to its staff which claimed that it would be out of business within six months if the ETU was successful in negotiating a new agreement. The FWC found that the warning was not a breach of ‘good faith bargaining’, as workers were still given a choice between a union and non-union agreement.

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DDP ELECTRICAL SERVICES, ELECTRICAL TRADES UNION, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION

Band-Aid plans to push up power bills

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Original article by Mark Ludlow, Angela Macdonald-Smith, Natasha Gillezeau
The Australian Financial Review – Page: 7 : 23-Aug-19

Claims that Australia could suffer from power blackouts during the 2019-20 summer reflect the need for a co-ordinated national energy policy, according to Energy Users Association of Australia CEO Andrew Richards. He says asking big power users to again take part in voluntary load shedding to help prevent blackouts represents a "Band-Aid on top of another Band-Aid". His comments regarding the need for a co-ordinated energy plan have been echoed by ERM Power CEO executive Jon Stretch.

CORPORATES
ENERGY USERS ASSOCIATION OF AUSTRALIA, ERM POWER LIMITED – ASX EPW, AGL ENERGY LIMITED – ASX AGL

Top lawyers warn ASIC against hasty moves

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Original article by Hannah Wootton
The Australian Financial Review – Page: 33 : 23-Aug-19

Treasurer Josh Frydenberg recently indicated that the federal government aims to pass 40 pieces of legislation in response to the Hayne royal commission’s recommendations by the end of 2020. It wants 90 per cent of relevant legislation to be implemented by mid-2020. However, corporate lawyers have stated that problems could arise if the government and the Australian Securities & Investments Commission persist with their "ambitious deadlines" for implementing the commission’s recommendations.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Discrimination rise feeds gender pay gap

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Original article by Ewin Hannan
The Australian – Page: 5 : 22-Aug-19

Research by KPMG has concluded that discrimination against women accounts for 39 per cent of the gender pay gap. The research also found that although women are just as likely as their male colleagues to ask for a pay rise, women are much less likely to actually receive an increase. Workplace Gender Equality Agency director Libby Lyons says addressing the gender pay gap requires action on the issue of "ingrained" gender stereotypes.

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KPMG AUSTRALIA PTY LTD, AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY, GLASSDOOR INCORPORATED