Thursday, April 1, 2021

JobKeeper ends as emergency government support tapers. So what now? I speak with Paul Turton on ABC Radio in Newcastle

 Here's my chat with Paul Turton on ABC Radio, Newcastle

AMP chief Francesco De Ferrari retires, ANZ's Alexis George steps up; Deliveroo shares tank on London listing

Wealth manager AMP has confirmed chief executive Francesco De Ferrari will retire in July. 

ANZ deputy chief executive Alexis George takes over at the embattled company from July 1. 

Mr De Ferrari leaves less than three years into the AMP hot seat.

Here's my report from The World Today on ABC Radio.

I spoke to Mr De Ferrari on "AM" in late 2018 shortly after he began as CEO.

Listen here

Also, shares on the food delivery company Deliveroo tank on day 1 of its share listing in London.



Wednesday, March 31, 2021

AGL splits dirty energy assets into separate company as renewables rise accelerates - I speak with chief executive Brett Redman

The rapid rise of renewables has forced the energy giant AGL into an aggressive survival strategy by splitting its dirty fossil fuel assets into a seperate company. 

The corporate manoeuvre where legacy coal and gas assets will be housed in a company called PrimeCo comes as AGL confronts a fundamental shift to green energy and after pressure from major investors and superannuation funds. 

But AGL chief executive Brett Redman tells ABC's Peter Ryan can't be sold off given the need to "keep the lights on" during to transition to renewables.

I also speak with Thomas Oriti on ABC NewsRadio to explain the challenge AGL is facing to deliver on the strategy.




Monday, March 29, 2021

Official fallout from Jobkeeper end might not be clear for weeks

The full impact of the Jobkeeper withdrawal is unlikely to be known for at least a month as many employers decide whether they can afford to hold on to staff. 

Westpac economists think the jobless rate will drift back to 6 percent before recovering. 

ABC's Peter Ryan says as many as 150,000 jobs could disappear as a result of the Jobkeeper axing.


Emotional road trip from Brisbane ends in u-turn as Brisbane lockdown looms

People travelling interstate from Brisbane for the first time in months have been caught up in the three day lockdown.

Brendan Ryan made it halfway to Sydney and was at Forster on the New South Wales north coast when he got the news.

He'd decided to head south to visit his elderly mother who he hasn't seen since late 2019 because of last year's border restrictions.

Brendan Ryan spoke with his brother, the ABC's senior business correspondent Peter Ryan just before he made a u-turn,

Monday Finance - JobKeeper end push up to 150,000 Australians out of work

The federal government's $90 billion JobKeeper wage support scheme has officially ended in what's likely to be a uncertain new chapter in Australia's recovery from the pandemic-induced economic crisis. 

While the latest official data shows more people exited JobKeeper last month, Treasury estimates up to 150,000 jobs could be lost in the coming months as employers make hard decisions on how many roles they can afford to retain. 

ABC's Peter Ryan also looks at the mega container vessel stuck in the Suez Canal and an uncertain future for AMP chief executive Francesco De Ferrari.