A third of workers ripped off by bosses in "unpaid super epidemic", Industry Super Australia warns

A third of Australian workers are still being ripped off on their superannuation entitlements with rogue employers pocketing almost six billion dollars to fatten up their own books, according to a report out today. 

Research commissioned by Industry Super Australia based on Australian Tax Office data has found that 2.8 million workers were shortchanged with an average underpayment of $2070 a year. 

What's been described as "unpaid super epidemic" defies action in recent years by the ATO  to crack down on loophole used by unscrupulous employers. 

Industry Super Australia chief executive Bernie Deane spoke with ABC's Peter Ryan. 

NAB boss Phil Chronican relaxed about "negative equity" as long as jobless rate stays low

National Australia Bank interim chief executive Phil Chronican says less than one percent of its loan book is in "negative equity" where an outstanding loan exceeds a property's value.

But Mr Chronican says negative equity won't become a shock as long the unemployment rate remains low. 

NAB has posted a 4.3 percent increase in half year profit to $2.7 billion dollars, but has cut its dividend to investors and clawed back $5.5 million in executive bonuses as Royal Commission fallout continues to bite. 

Phil Chronican spoke with ABC's Peter Ryan.

ALDI Australia boss Tom Daunt sees evidence of housing correction as shoppers cut costs; reveals new strategy coming to ramp up recycling

ALDI Australia chief executive Tom Daunt says the low profile supermarket chain has added $23 billion to the Australian economy since setting up shop here in 2001 and challenging the might of traditional giants Woolworths and Coles. 

In a rare interview, Mr Daunt said a commissioned report from advisory firm PriceWaterhouseCoopers found ALDI has contributed to significant price deflation which is saving shoppers $2.2 billion a year. 

Mr Daunt told ABC's Peter Ryan that Aldi is planning to ramp up its climate change policy to move to greater recycling of products with an announcement set for the coming months.  

LISTEN TO MY INTERVIEW WITH TOM DAUNT

ALDI Australia chief executive Tom Daunt (supplied by ALDI)

ANZ net profit slips on slowing housing market and Royal Commission fallout

ANZ Bank has reported a five percent dip in its first half net profit to $3.2 billion, weighed down by a rapidly cooling housing market. 

However, the bank's preferred measure of cash profit is two percent higher and ANZ shares rose as a result. 

ANZ chief executive Shayne Elliott  says the banks decision to take a more prudent approach to lending as a result of Royal Commission revelations contributed to the softer result.

Here's my report from The World Today

Antony Catalano dismisses paywalls as answer to newspaper decline; no guarantees on jobs pledges to grow former Fairfax regional mastheads

Former newspaper copyboy and one time Fairfax Media high flyer Antony Catalano has pledged to grow the 160 regional mastheads he has bought from Nine Entertainment. 

Mr Catalano is yet to reveal his strategy for Australian Community Media but does not believe paywalls are the answer in a fading print environment. 

Mr Catalano would give no firm guarantees about job cuts, but told ABC's Peter Ryan he will be reviewing the operations of the regional empire once owner by Fairfax Media.