Young people working in the hospitality industry – covering restaurants, cafes, bars and pubs – are particularly prone to exploitative practices, according to the Fair Work Ombudsman.
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Three-quarters of teenagers in our survey experienced exploitation, bullying, harassment or some other form of abuse in their first job.
Why welding in a confined space is so dangerous: argon gas, used commonly in welding, is 38% denser than air. It can displace oxygen close to the ground. Being undetectable, this can lead to loss of consciousness and asphyxiation.
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The death of apprentice Dillon Wu at a Melbourne factory raises questions about employer responsibility when a traditional employment relationship doesn’t exist.
Royal Commissioner Kenneth Hayne wants simpler laws, and he is prepared to start small.
Eddie Jim/AAP
Complaints that Hayne didn’t recommend big changes miss the point.
There are words you’ll need to understand. But imputation is complex, like the tax system.
Wes Mountain/The Conversation
If you can understand this, you might just understand the election. Here’s our quick guide to the language of dividend imputation.
Ivanka Trump headed the panel that chose Donald Trump;s nomination for World Bank President.
Erik S Lesser/EPA
Regardless of his qualities, and Donald Trump’s pick was the former chief economist at Bear Stearns, right now a US candidate is the wrong candidate.
Ken Henry on ABC 7.30 Thursday night. “We have not been able to satisfy customer expectations, nor community expectations. As I said, for that, we are deeply sorry.”
ABC
We get defensive when the social order we have become accustomed to is challenged. We attempt to protect ourselves through projection, denial, games, blame, or rationalisation.
Philip Lowe tells the Press Club on Wednesday there’s now an even-money chance rates will be cut.
Dan Himbrechts/AAP
Rates might need to be cut urgently, and because things are good. Governor Lowe has signalled he won’t wait.
Kristen Bell, William Jackson Harper, Ted Danson, Jameela Jamil and D'Arcy Carden from The Good Place. The TV series’ navigation of ethics shares touch points with Australia’s banking royal commission.
IMDB
American fantasy-comedy The Good Place has covered some surprisingly similar ground to Australia’s banking royal commission.
The remote community of Urapunga in South East Arnhem Land, more at the mercy of the finance industry than most.
J. Louth
It’s far away from the cities and towns where banks and finance companies are really predatory, but it’s not where Hayne looked.
A supermarket in Caracas, Venezuela, in August 2018. The prospect of prices doubling every hour encourages those who can afford it to horde. Hence the empty shelves and shortages.
Miguel Gutiérrez/EPA
Venezuela’s hyperinflation has been caused by an inept public policy of printing more money and private individuals making the most of differences between official and unofficial exchange rates.
National Australia Bank was the only bank singled out for direct criticism on Monday, yet its share price jumped 4%.
Mick Tsikas/AAP
Bank shares soared 4% to 7% after the royal commission report. That could be because it will do them little harm.
There’s a 10 to 15 year cycle for financial service royal commissions.
Kym Smith/AAP
While many Hayne’s recommendations are laudable and abolutely necessary, they are not sufficent to end of the regular cycle of appalling misconduct and inquiries.
If you are valued more for ends than means, you’ll cut corners with means.
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Tying incentives to contribute to profits can give bad results, but we need to tie them to something.
Treasurer Josh Frydenberg will have to respond quickly to the Banking Royal Commission.
Stefan Postles/AAP
The Morrison government has promised to establish a compensation scheme paid for by the financial services industry as it seeks to avoid damage from the banking royal commission.
The law assumes consumers read the terms and conditions of their contracts, and in a dispute, they are held responsible for the written terms of any agreements.
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Legally, consumers are expected to read any online contracts they enter into, but companies have no obligation to offer readable agreements. As research shows, most are incomprehensible.
It is just possible for the banks to regain our trust, but it won’t be easy.
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Rebuilding trust is possible, but as the aftermath of the banking crisis in the UK shows, very difficult.
Canadian bank boards are bigger, much bigger. It means they can deal with what’s in front of them.
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Evidence before the royal commission suggests Australian bank boards have been overpaid, underskilled and understaffed compared with those overseas.
Financial institutions often have all the information they need to identify suspected cases of economic abuse.
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The royal commission didn’t examine economic abuse. If it had it would have found there’s much banks can do.
Economists expect the cash rate to remain steady for yet another year even though inflation is on the floor.
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The Reserve Bank’s inflation target seems out of date in a world of ultra low inflation. So why is Governor Lowe persisting with it?
The government in general remains in bad shape on multiple fronts, and.
Scott Morrison often sounds desperate.
Dave Hunt/AAP
Though it is generally believed a minor miracle would be needed to rescue the Morrison government, the Coalition judges the best way to “save furniture” is to wave the fear flags.
New England Patriots quarterback Tom Brady is on the cusp of becoming the player with the most Super Bowl wins in NFL history. Tens of millions of viewers around the the world will be watching.
Larry W. Smith/EPA
Foreign interest in American football tells us a lot about what is happening to sport in the 21st century.
The Deepwater Horizon disaster in April 2010 killed 11 workers and caused the greatest environmental disaster in US history. Banking regulators can learn from the penalities introduced to motivate executive interest in putting safety first.
EPA/US Coast Guard/Handout
Banking executives have huge incentives to maximise profits at all costs. They need equally compelling incentives to do the right thing.
A World Bank in sync with Donald Trump’s views about climate change and multilateralism would probably help to increase Chin’s role in international development and finance.
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Donald Trump’s pick to head the World Bank could well weaken the organisation’s importance in international development and finance.
A decision of the New Zealand government means if a New Zealand bank goes belly up, Australian taxpayers could find themselves cleaning up the mess.
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A mismatch between Australian and New Zealand regulations means Australian taxpayers could be on the hook if a New Zealand bank fails.
order of australia red.
AAP/Paul Miller
The highest awards go to people who do their jobs. We could be giving them to people who do more.