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Royal commission: Is this the best take on the insurance 'shonks'? - Dotemirates
1 week 2 day

Royal commission: Is this the best take on the insurance 'shonks'?

ABC News Breakfast By Patrick Wood This was no sombre reflection on the woes of the finance industry — it was a full-throated attack on the insurance "shonks" who have been "rooting us for years".Stockbroker Marcus Padley came off the long run with his blunt analysis of the banking royal commission, which has this week been focusing on insurance companies.And his assessment began with something of a mea culpa."I thought the royal commission was going to be a politically driven waste of time," he said."And it is quite astonishing the things they have revealed in our industry — not just...


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Business News

12 minute 6 second

Perth Christmas retail shopping hours scaled back, prompting business criticism

By Jacob Kagi Perth shoppers will have fewer hours to complete their Christmas gift-buying in store this year after the WA Government scaled back extended retail trading hours over the festive period.In a move blasted by the WA Chamber of Commerce and Industry (CCI) as "anti-jobs", the Government has reduced extended Christmas trading this year from 49 to 34 additional hours.The biggest change is with morning weekday trading in early December, with shops last year having been allowed to open at 7:00am Monday to Friday from December 5.This year, 7:00am weekday trading will not commence until December 17.Shops also will...
18 minute 31 second

Miners to launch new class actions against labour hire firms WorkPac, Programmed, HAYS and One Key

By Lorna Knowles, ABC Investigations The mining industry is facing four new class actions alleging that more than 25,000 workers were not paid their proper entitlement, worth up to $325 million.The new class actions are being brought against the labour hire firms WorkPac, Programmed, HAYS and One Key, which provide services to big mining companies in NSW and Queensland.The workers were hired to provide labour for companies including BHP, Glencore, Anglo and Yancoal.Principal of Adero law firm, Rory Markham, told the ABC he was finalising registrations for the class actions tomorrow.Mr Markham said the workers would allege the companies were...
24 minute

Weaker exports weigh on Eurozone business output in September

Mubasher: Flash estimates for the Eurozone showed that business activity grew at the second weakest since the end of 2016 momentum in September. The flash IHS Makit Eurozone purchasing managers’ index (PMI), gauging output, registered 54.2 in September down from 54.5 in August, which marked the second weakest growth since November 2016 after last May, data released on Friday showed. This was primarily attributed to the waning export orders for the first time in more than five years. New order inflows were the weakest since October 2016, while uncompleted orders rose at the slowest pace since September 2016. The slowdown...

29 minute 8 second

Supply concerns boost oil, but Trump lower prices demand weighs

Mubasher: Oil prices edged up earlier on Friday as worries persisted over short supplies that would be caused by looming US sanctions against Iran’s crude shipments, but US President Donald Trump call for lower prices kept a lid. By 6:47 am GMT, US Nymex crude went up 0.10% to $70.39 per barrel (pb) from their earlier session, as international benchmark Brent crude rose 0.33% to $78.96 pb. By 8:06 am GMT, Nymex futures edged up 0.11% to $70.40 pb, while Brent crude futures climbed 0.24% to $78.89 pb. Members of the Organization of the Petroleum Exporting Countries (OPEC) and its...
49 minute 15 second

Swiggy expands services in 8 new cities

New Delhi: Food delivery platform Swiggy on Thursday said it has launched services in eight new cities as it strengthens presence across the country. The new cities are Dehradun, Puducherry, Mysore, Vijayawada, Nashik, Guwahati, Kanpur and Ludhiana, Swiggy said in a statement. The company has partnered with over 1,200 restaurants in these cities, it added. Commenting on the development, Swiggy COO Vivek Sunder said, "Expanding to these eight new markets is very important to us". Over the years, Swiggy has played an instrumental role in making food ordering and delivery more accessible, reliable and convenient for consumers across the country,...
56 minute 16 second

Reliance permanently shuts down MA oil field in KG-D6 block

New Delhi: Reliance Industries on Friday said it has permanently shut down its only oil field in the flagging KG-D6 block after production declined to nil. Reliance Industries (RIL) had till date made 19 oil and gas discoveries in the Krishna Godavari basin. Of these, D26 or MA -- the only oil discovery in the block -- was the first field to began production in September 2008. Dhirubhai-1 and 3 (D1 and D3) fields went onstream in April 2009. "This is to inform that MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by RIL as an operator...