Business

News Corp investors have rejected a proposal to eliminate the voting structure that allows the Murdoch family to keep a vice grip on Rupert Murdoch’s media group.
Companies
Georgina Noack

Murdoch family survives push to loosen grip on media empire

News Corp investors have rejected a proposal to eliminate the voting structure that allows the Rupert Murdoch’s family to keep a vice-like grip on his media empire.

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Resolute Mining CEO Terry Holohan and Malian leader Colonel Assimi Goita.
Mining
Daniel Newell

Resolute CEO and two execs released by Mali junta

Three Resolute Mining workers— including chief executive Terry Holohan— have been freed by the ruling military junta in Mali after the gold producer stumped up a massive tax demand.

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Mineral Resources managing director Chris Ellison, left, and company chairman James McClements.
Business
Adrian Rauso

MinRes chair in firing line of furious mum and dad investors

The group that represents Australia’s mum and dad shareholders plans to grill the chair of Mineral Resources over his lack of action in addressing the dodgy dealings of boss Chris Ellison.

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Reserve Bank Governor Michele Bullock and Treasurer Jim Chalmers.
Business
Matt Mckenzie

Election cash splash would slow rate cuts

A fresh survey of economists has revealed most are still tipping an interest rate cut by March — but one investment bank has warned a big spending election would delay relief for many months.

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"We are staying the course," Rio Australia chief Kellie Parker says of the company's culture change. (Alan Porritt/AAP PHOTOS)
Editorial

Rio Tinto must stay course against toxic culture backlash

EDITORIAL: Creating cultural change is really bloody hard. Rio Tinto is finding out just how much of a relentless, bruising slog it can be. 

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Amcor is a major global player in food and drink containers, as well as packaging for medical and pharmaceutical industries.
Business
Neale Prior

Packaging giant Amcor unveils $13b merger with US rival

Australian-made packaging giant Amcor plans to wrap up US rival Berry Group in a $13 billion deal aimed at boosting their global grunt.

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Furniture retailer Nick Scali will incur an unknown amount of extra costs due to delays.
Business
Cheyanne Enciso

Nick Scali warns first-half targets at risk after delays

Nick Scali has warned the collapse of one of its freight forwarders has led to a significant number of containers delayed at ports, causing delivery headaches and threatening profits for the furniture store.

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Rio released a progress update two years after an initial bombshell report unveiled bullying and sexism were systemic at the company.
Mining
Simone Grogan

Is male worker backlash thwarting Rio’s change for women?

Rio’s efforts to fix culture issues in the past two years have left some men feeling “undervalued or overlooked” against their women peers, and of the belief that there is reverse discrimination at play.

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For lower income households (those in the bottom 25 per cent of earners) there are no dwellings available in terms of affordability.
Property
Jackson Hewett

Just 10 per cent of homes now affordable for average worker

New research from ANZ-CoreLogic shows that a median wage earner would have to spend eight times their income to purchase a property.

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Australian Treasurer Jim Chalmers says the days of revenue windfalls in the Federal Budget are over.
updated
Australia
Dan Jervis-Bardy and Katina Curtis

Budget surplus days over as iron ore, jobs bite

Tumbling iron ore prices and a softening labour market has hit Federal coffers, leaving Treasurer Jim Chalmers with a ‘sliver’ of the revenue windfalls that have propped up his Budget bottom line.

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How Chinese is Shein?
Business
The Economist

Is fashion giant Shein cut from Chinese cloth?

With headquarters in Singapore, employees in China, and shares due to be listed in London, the matter of nationality has become a vexed question

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The average total remuneration gender pay gap has dropped 0.6 percentage points to 21.8 per cent. (Lukas Coch/AAP PHOTOS)
Business
Poppy Johnston

Pay gap narrows but womenCEOs still left behind men by $150K

Naming and shaming company gender pay gaps appears to be working, with a flurry of employers commissioning probes into the issue and taking action.

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Iron ore stockpiles waiting to be transported at Rio Tinto Group's port facility in Karratha, Western Australia, on Friday, Oct. 20, 2023. Rio Tinto Group, BHP Group Ltd. and Fortescue Metals Group Ltd. produce almost two-thirds of the world’s seaborne iron ore from Western Australia, and margins remain enviable. For the first time in a generation, though, the specter of disruption looms over mining’s most reliable profit generator. Photographer: Carla Gottgens/Bloomberg
Mining
Caitlyn Rintoul and Simone Grogan

‘You keep your mouth shut’: Rio still has a culture problem

A review into global miner Rio Tinto’s workplace culture has found a disturbing battle of the sexes emerging as it struggles to make progress on a raft of changes.

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THE WASHINGTON POST: ‘Crocodile of Wall Street’ Heather Morgan gets prison time for role in huge bitcoin theft.
Business
The Washington Post

‘Crocodile of Wall Street’ sentenced for huge bitcoin theft

THE WASHINGTON POST: To the internet, she’s a rapper named Razzlekhan who claimed to have more pizzazz than Genghis Khan. But to prosecutors, she’s one half of the ‘Bitcoin Bonnie and Clyde’.

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HESTA cut the value of unlisted investment options held by members creating their own investment mix using the fund’s Choice investments on March 20, 2020.
Wealth
Neale Prior

HESTA tops up 110,000 members in unlisted assets bungle

The Federal prudential watchdog has revealed defects in industry superannuation fund HESTA’s valuation processes as it was grappling with coronavirus market volatility in March 2020.

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