Industry super giant IFM Investors ready to pump "billions" into COVID-19 recovery infrastructure - I speak with IFM chief executive David Neal

One of the world biggest investment fund, the industry super owned IFM Investors, wants to "supercharge" infrastructure projects to support Australia's economy recovery in the post-pandemic world. 

IFM chief executive David Neal tells ABC's Peter Ryan the $160 billion fund has "billions of dollars"  standing by for major projects but wants local contractors to get preference ahead of multinationals companies to reduce exposure to taxpayers when projects become distressed.  

Unemployment climbs to 7.4pc despite creation of more than 211,000 jobs

Official numbers from the Bureau of Statistics estimate unemployment rose from 7.1 to 7.4 per cent in June, despite the addition of nearly 211,000 jobs. 

While underemployment and underutilisation rates are slightly lower, youth unemployment has reached a 23 year high of 16.4%. 

ABC's Peter Ryan says real unemployment rate without JobKeeper would be an effective 13.3 percent.

Gig workers exposed as on-demand platforms dodge regulations, inquiry finds

A new report into the "gig" economy has called for a stronger code of conduct to protect workers who don't receive basic entitlements because they are not classified as employees.

Former Fair Work Ombudsman Natalie James says some workers are especially exposed given the outlook for surging unemployment.  

Here's my report from The World Today

ME Bank boss Jamie McPhee quits as mortgage redraw controversy bites

ME Bank chief executive Jamie McPhee has resigned, two months after angering customers by changing policies on mortgage redraw facilities.

Mr McPhee later backed down and apologised but his decision was scrutinised by a parliamentary committee and the Australian Securities & Investments Commission.

Here's my report from The World Today

Fair Work Ombudsman Sandra Parker says 60 large companies concede underpayments in past 18 months some during pandemic

Fair Work Ombudsman Sandra Parker says 60 large companies have come forward to admit worker underpayments over the past 18 months, some during the pandemic. 

Ms Parker says while the regulator maintains pressure on big business, it  will take COVID-19 into account when pursuing smaller offenders though no business will be "off the hook".

Ms Parker tells ABC's Peter Ryan that despite initial confusion, JobKeeper has helped ease anxiety for businesses and their employees.