Original article by Robert Gottliebsen
The Australian – Page: 27 : 17-Apr-19
Media reports have suggested that the Commonwealth Bank and ANZ are looking to retrench up to 25 per cent of their staff. Rival banks will also need to reduce wage costs in order to remain competitive. Meanwhile, new technologies such as artificial intelligence and block chain will result in much bigger job cuts over the next decade, and in a wide range of sectors. The public service offers the greatest potential for major staff cuts, but unions will resist any such move. With fewer job opportunities in the future, more Australians will need to start their own business; in this context, the federal government’s move to establish a small business tax tribunal that is independent of the Australian Taxation Office is to be welcomed.
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN TAXATION OFFICE, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ACTU
Original article by Nick Evans
The Australian – Page: 22 : 4-Apr-19
BHP, Rio Tinto and Fortescue Metals Group are ramping up their investment in technology, including driverless trucks and automated drilling rigs. However, BHP executive Rag Udd has told a conference in Brisbane that Australia is underperforming with regard to the adoption of robotics. He said the nation has about 0.6 robots per thousand employees, compared with the OECD average of 1.61. Udd also argued that the growing tend toward technology in the mining sector creates new jobs and safer jobs rather than fewer jobs.
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT
Original article by Paul Garvey
The Australian – Page: 20 : 8-Aug-17
Tony O’Neill of Anglo American says the company will seek further productivity gains via technological innovation, after lifting productivity by 70 per cent over the last 4-5 years. O’Neill has outlined some of these technologies at the annual Diggers & Dealers forum, but he noted that securing regulatory permits is the main hindrance to adopting some of the innovations. Meanwhile, Roy Hill Holdings has advised that iron ore shipments from its namesake mine totalled 4.45 million tonnes in June 2017, and shipments had averaged 2.8 million tonnes during the first half of the calendar year.
ANGLO AMERICAN PLC, ROY HILL HOLDINGS PTY LTD, DIGGERS AND DEALERS FORUM, FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO
Original article by Damon Kitney
The Australian – Page: 21 : 26-Jun-14
Technology company Nimble has raised $A10 million in new funding from Acorn Capital and Monash Investors. It specialises in providing small personal loans to creditworthy borrowers. It uses data analytics to reduce approval times. Australia’s big four banks are now under competitive pressure from small companies that use new technology to offer services such as payments, short-term lending, and peer-to-peer lending
NIMBLE PTY LTD, ISELECT LIMITED – ASX ISU, ACORN CAPITAL INVESTMENT FUND LIMITED – ASX ACQ, MONASH INVESTORS PTY LTD, SEEK LIMITED – ASX SEK, SQUARE PEG CAPITAL PTY LTD, FACEBOOK INCORPORATED, SOCIETYONE AUSTRALIA PTY LTD, REINVENTURE GROUP PTY LTD