Original article by Eli Greenblat
The Australian – Page: Online : 4-Jun-19
A new survey shows that company secretaries in the financial services sector have received an average pay rise of 24 per cent in 2018-19. In contrast, the remuneration of directors and chairpersons in the industry have fallen by 11 per cent in the wake of the Hayne royal commission. Likewise, the remuneration of CEOs in the sector fell by 21 per cent and managing directors’ pay was cut by 10 per cent. The survey was undertaken by the Governance Institute, in partnership with McGuirk Consultants and Board Direction.
GOVERNANCE INSTITUTE OF AUSTRALIA LIMITED, McGUIRK MANAGEMENT CONSULTANTS PTY LTD, BOARD DIRECTION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY
Original article by Ewin Hannan
The Australian – Page: 6 : 9-May-19
Labor’s proposal to provide child care workers with a taxpayer-funded wage increase is supported by former ACTU secretary Bill Kelty. He argues that child care workers are "grossly underpaid", and the cost of the policy will not have a significant impact on wages across the economy. Kelty has also downplayed concerns that the policy would prompt employees in other sectors to seek a similar wage subsidy.
AUSTRALIAN LABOR PARTY, ACTU
Original article by Rick Morton
The Australian – Page: 4 : 7-May-19
Shadow treasurer Chris Bowen has defended Labor’s proposal to provide early childhood educators with a taxpayer-funded pay rise, saying the policy has been costed by the Parliamentary Budget Office. Treasury Josh Frydenberg in turn has argued that the policy has been costed on giving a pay rise to 100,000 child care workers, whereas the sector employs 195,000 people. He has claimed that the policy is merely aimed at increasing union membership.
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY
Original article by Lisa Murray
The Australian Financial Review – Page: 2 : 3-May-19
The Judith Neilson Journalism Institute has provided funding for a range of initiatives since it was founded, while its longer-term goals include producing podcasts and documentaries in partnership with established media companies. The institute was founded by philanthropist Judith Neilson, who is also its patron. Neilson says she has no input into the day-to-day operations of the institute, whose board includes former ABC chairman Jim Spigelman, Free TV Australia CEO Bridget Fair and Paul Kelly, the editor-at-large of ‘The Australian’.
JUDITH NEILSON JOURNALISM INSTITUTE, AUSTRALIAN BROADCASTING CORPORATION, FREE TV AUSTRALIA LIMITED, NEWS CORP AUSTRALIA PTY LTD, WHITE RABBIT GALLERY LIMITED, WALKLEY FOUNDATION FOR JOURNALISM
Original article by Ewin Hannan
The Australian – Page: 4 : 1-May-19
Opposition Leader Bill Shorten says Labor has no plans to extend its taxpayer-funded pay rise for childcare workers to other low-paid sectors. He says the policy takes into account the "unique" status of childcare workers. However, Council on the Ageing CEO Ian Yates says increasing the wages of aged-care staff should also be a priority for Labor if it wins the election, noting that they are also underpaid and undertrained. Shorten has signalled that Labor could look at wage increases for these workers after the aged-care royal commission delivers its final report in April 2020.
AUSTRALIAN LABOR PARTY, COUNCIL ON THE AGEING, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. ROYAL COMMISSION INTO AGED CARE QUALITY AND SAFETY
Original article by James Eyers
The Australian Financial Review – Page: 18 : 17-Apr-19
The Commonwealth Bank of Australia has advised that current and former employees have received some $4.8m in back pay to date, including interest. Problems with the bank’s human resources technology systems resulted in about 8,000 employees being underpaid. Julia Angrisano, the national secretary of the Finance Sector Union, says the bank and its Bankwest subsidiary may ultimately have to repay between $10m and $15m, although CBA believes that the final figure will be much lower. Some employees are also believed to have been paid at below-award rates.
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BANKWEST, FINANCE SECTOR UNION
Original article by Ewin Hannan
The Australian – Page: 2 : 15-Mar-19
DP World’s container terminal at Fremantle will be affected by work bans and rolling stoppages from 19 March. The indefinite industrial action is likely to be extended to DP World’s other container terminals in Australia in coming weeks unless the dispute is resolved. The Maritime Union of Australia has objected to DP World’s proposal to scrap an income protection scheme. The union is also seeking an annual pay rise of five per cent over three years, but DP World has offered a 2.6 per cent increase.
DP WORLD AUSTRALIA PTY LTD, MARITIME UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION
Original article by Richard Ferguson
The Australian – Page: 2 : 5-Mar-19
Former foreign minister Julie Bishop is among the six Liberal MPs who have chosen not to contest the 2019 election. Bishop is set to be paid more than $177,000 before tax each year in retirement, after 21 years in parliament. Liberal colleague Christopher Pyne will be paid more than $172,000 a year following a 26-year parliamentary career, while Labor’s Jennie Macklin will be entitled to an annual income of some $177,000 after 23 years in the lower house. Seven Labor MPs will retire at the election.
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA
Original article by Richard Gluyas
The Australian – Page: 17 & 18 : 4-Mar-19
David Morgan has stepped down as deputy chairman of Dutch bank NIBC after eight years. Morgan notes that the mortgage broking industry in the Netherlands had survived after commissions were replaced by borrower-paid fees, and he does not see why the same system, as recommended by the banking royal commission, should not work in Australia. Morgan, a former CEO of Westpac, does not believe that it will take the banks as long to regain trust as some have speculated.
WESTPAC BANKING CORPORATION – ASX WBC, NIBC BANK NV, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, IOOF HOLDINGS LIMITED – ASX IFL, AMP LIMITED – ASX AMP, AUSTRALIA. DEPT OF THE TREASURY
Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 1-Mar-19
Rio Tinto’s annual report shows that CEO Jean-Sebastien Jacques received total remuneration of Stg4.29m in 2018, compared with Stg3.82m in 2017. His base salary will increase by 2.5 per cent to Stg1.138m from the start of March. Meanwhile, Rio Tinto’s remuneration committee has advised that the payment of bonuses to former CEO Sam Walsh will again be deferred pending the outcome of an investigation into the Simandau scandal.
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG