Pilu chef Giovanni Pilu to open spin-off Italian restaurant at iconic Toaster building
Flaminia, which opens in late November, takes its name from the ship that started the Australian migrant story for the husband-and-wife team who steer the chefs' hatted Pilu restaurant.
'It docked at Circular Quay,' Annecchini said of her mother's arrival from Italy aboard the Flaminia, in 1959. If she'd peered out the east-facing portholes, her first view of Sydney might've been the site where her daughter is now opening a restaurant, perched on the edge of Sydney Cove.
Since Pilu launched in 2004, the owners of the award-winning restaurant have fielded several offers to expand to the Sydney CBD. They said it'd take something big, and the view from Q Dining at the Pullman Quay Grand Sydney Harbour matched that criteria, so they've struck a deal with the hotel to take over the restaurant space on level 2.
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News.com.au
12 minutes ago
- News.com.au
‘Absolute priority': NAB underpays staff $130m
A big-four bank has revealed it will pay back workers $130m due to a payroll system problem at the same time that it announced an eye-watering profit. In its latest quarterly results, NAB announced a slight increase in third-quarter profits while pointing to a jump in operating expenses due to back paying workers. According to the bank, operating expenses were up 4.5 per cent on last year as it dealt with payroll issues estimated to come in at $130m for the 2025 financial year. The bank did not say how many employees need to be back paid. 'NAB payroll review and remediation is ongoing and total costs remain uncertain,' the bank said. The payroll review first began in 2019 and led to costs of more than $250m between 2020 and 2022. In 2020, NAB said it had underpayments to staff dating back all the way to October 2012. Moving staff to a new enterprise agreement in 2024 identified further payroll issues. As a result, NAB has initiated a broader review into payroll-related benefits. NAB group executive people and culture Sarah White said a dedicated team was continuing to investigate and resolve issues, remediate colleagues and ensure sustained future compliance. 'Paying our colleagues correctly is an absolute priority,' she said. 'We are sorry and apologise to our colleagues that this has happened and have commenced remediating those impacted.' Meanwhile, NAB reported a slight increase in third-quarter cash earnings on the back of improved margins and growth in both business and home lending. NAB made $1.77bn for the three months ending June 30, up from $1.75bn this time last year. NAB said business lending grew 4 per cent and Australian home lending grew 2 per cent during the quarter. Net interest margins increased 8 basis points. Expenses were also up 3 per cent on the back of higher staff costs, investment in new technology and remediation costs. Bank deposits were largely stable over the quarter but are up 6 per cent over the nine months to June 30. The major lender also booked a credit impairment charge of $254m in the quarter, mainly related to business lending in Australia and New Zealand as well as unsecured Australian retail portfolios. NAB chief executive Andrew Irvine said focusing on key priorities led to Monday's result. 'We remain optimistic about the outlook and are well placed to manage NAB for the long term and deliver sustainable growth and returns for shareholders,' he said.
Perth Now
12 minutes ago
- Perth Now
‘Absolute priority': Bank's $130m pay bungle
A big-four bank has revealed it will pay back workers $130m due to a payroll system problem at the same time that it announced an eye-watering profit. In its latest quarterly results, NAB announced a slight increase in third-quarter profits while pointing to a jump in operating expenses due to back paying workers. According to the bank, operating expenses were up 4.5 per cent on last year as it dealt with payroll issues estimated to come in at $130m for the 2025 financial year. The bank did not say how many employees need to be back paid. 'NAB payroll review and remediation is ongoing and total costs remain uncertain,' the bank said. NAB announced it has underpaid staff a further $130m. NewsWire / Nicholas Eagar Credit: NewsWire The payroll review first began in 2019 and led to costs of more than $250m between 2020 and 2022. In 2020, NAB said it had underpayments to staff dating back all the way to October 2012. Moving staff to a new enterprise agreement in 2024 identified further payroll issues. As a result, NAB has initiated a broader review into payroll-related benefits. NAB group executive people and culture Sarah White said a dedicated team was continuing to investigate and resolve issues, remediate colleagues and ensure sustained future compliance. 'Paying our colleagues correctly is an absolute priority,' she said. 'We are sorry and apologise to our colleagues that this has happened and have commenced remediating those impacted.' Meanwhile, NAB reported a slight increase in third-quarter cash earnings on the back of improved margins and growth in both business and home lending. NAB's quarterly profits came in at $1.77bn. NewsWire / Gaye Gerard Credit: News Corp Australia NAB made $1.77bn for the three months ending June 30, up from $1.75bn this time last year. NAB said business lending grew 4 per cent and Australian home lending grew 2 per cent during the quarter. Net interest margins increased 8 basis points. Expenses were also up 3 per cent on the back of higher staff costs, investment in new technology and remediation costs. Bank deposits were largely stable over the quarter but are up 6 per cent over the nine months to June 30. The major lender also booked a credit impairment charge of $254m in the quarter, mainly related to business lending in Australia and New Zealand as well as unsecured Australian retail portfolios. NAB chief executive Andrew Irvine said focusing on key priorities led to Monday's result. 'We remain optimistic about the outlook and are well placed to manage NAB for the long term and deliver sustainable growth and returns for shareholders,' he said.
Sydney Morning Herald
42 minutes ago
- Sydney Morning Herald
Qantas hit with $90 million penalty for illegal sacking of 1800 workers
The case marks a significant win for the TWU at a time when the conditions of wages and work are being debated in the post-COVID economy. The penalty is in addition to the $120 million Qantas has already agreed to pay in compensation to the illegally fired workers. Monday's penalty hearing concludes a saga that began in 2020 when, facing the onset of the pandemic lockdown, Qantas announced it had decided to outsource ground handling operations at 10 Australian airports, culling more than 1800 employees. The TWU immediately challenged the decision in court, and it was found the following year that Qantas had acted illegally 'in part motivated by a desire to prevent the employees taking protected industrial action in the future'. Qantas appealed the case to the Supreme Court, which unanimously dismissed it, in a win for the TWU. In May, the court heard that Qantas, before it began outsourcing the workers in 2020, had sought to devise a plan for who should be named as the sole decision maker, essentially shielding the other executives from responsibility. Justice Michael Lee said at the time: 'The message must be sent to the broader corporate community that you can't play the court for a fool and try to fashion your evidence in a careful way in order to try to dissemble what went on.' In December 2024, Qantas agreed with the TWU to pay $120 million in compensation to the 1820 ground staff whose contracts were terminated, including 1700 workers who lost their jobs outright, as well as 120 who were redeployed within Qantas but suffered non-economic losses. At the time, Qantas chief executive Vanessa Hudson, said: 'This is an important step in bringing closure to these individuals and I want to reiterate our sincere apologies to those impacted and their families.' Hudson served as chief financial officer during the time the illegal sackings took place, before replacing Alan Joyce, who stepped down in 2023. Loading Since Joyce's exit, Hudson has laboured to rehabilitate the airline's reputation, seeking to restore consumer trust, improve on-time performance, and promote a general calm throughout the company. On Thursday, Joyce appeared to break his silence on his handling of Qantas' staffing. In a speech at the Australian Aviation Summit in Sydney, he said: 'It's well known that, during COVID, Qantas, like many airlines, also faced very challenging decisions about its workforce. I acknowledge that.' While it's a far cry from an apology, it marks his first public reckoning with his legacy at the iconic airline. Joyce's pay for his last year at the helm of Qantas could have been as high as $23.6 million, taking in a base salary of $2.2 million plus short-term and long-term incentive plans. After his exit prompted a board-commissioned review of the airline's leadership, the board voted to cut Joyce's pay by $9 million. Joyce is still eligible for $4 million more through a long-term incentive plan, which depends on Qantas' performance and share price. During Joyce's 15-year tenure at Qantas, he earned about $125 million.
