Thursday, July 19, 2018

Employment regains its mojo with booming growth in June

Australia's jobs' market appears to have regained its mojo with employment lifting by almost 51,000 in June, the strongest expansion since late last year. 

ABC's Peter Ryan says the jobless rate remains steady at 5.4 percent.

Google hit with US$5 billion fine, told to stop blocking Android rivals

The global digital giant Google has been fined US$5 billion by the EU's anti-trust regulator for using its Android operating system to block rivals. 

Google has been warned the next fine might be tougher at five percent of its average daily turnover worldwide. 

ABC's Peter Ryan says the battle could feature in rising trade tensions between the US and the European Union.

Here's my report from this morning's AM program.

Wednesday, July 18, 2018

Rivals Fairfax, News Corp in historic deal to share printing presses

In a deal that confirms the financial viability of published newspapers remains pressured, Fairfax Media and News Corporation Australia have agreed to share their printing sites, which will see a number of plants ultimately close. 

ABC's Peter Ryan analyses a deal that a decade ago would have been considered unthinkable.

Here's my coverage from ABC News Online

Tuesday, July 17, 2018

Rising household debt leaves Aust "vulnerable to economic shock", Reserve Bank warns

High levels of household debt fuelled by record low interest rates and easy access to finance is a prominent feature of the Australia's real estate market, the Reserve Bank has warned. 

In the minutes from its most recent meeting, the RBA says some households are "more vulnerable to economic shocks". 

ABC's Peter Ryan goes through the minutes on The World Today.

CEO pay surges, boards "tone deaf" to social licence - ACSI report

Here's my story on ABC News Online

Chief executive pay has hit record highs as wage growth for workers continues to flatline and trust in big business ebbs.

That's the latest finding of a CEO pay survey from the Australian Council of Superannuation Investors which shows pay for company bosses is at its highest level in seventeen years thanks to "persistent and increasing bonus payments".

The startling results come against the backdrop of the financial services Royal Commission which has revealed unlawful, unethical and possible criminal activity in the banking and insurance sectors.

Chief executive Louise Davidson told me its evidence that big business is out of touch and "tone deaf" to community standards.