RAMS accused by ASIC of faking payslips and contracts for home loans
Corporate regulator ASIC has sued Westpac home lender RAMS for allegedly engaging in systemic misconduct when arranging home loans, including faking payslips and contracts. Business reporter Daniel Ziffer unpacks the case.
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News.com.au
an hour ago
- News.com.au
Shore teen awarded $275k over long jump injury
EXCLUSIVE A 17-year-old Shore student has successfully sued his primary school for more than $275,000 after injuring himself while competing in the long jump at his Year 6 athletics carnival. In 2019, the teenager participated in the long jump trial competition at Neutral Bay Public School and fell onto his back on his fifth or sixth attempt at age 11. He told the court he experienced 'immediate back pain' and has suffered from back problems ever since. The student took the case to the NSW District Court, claiming the school – and, in turn, the state of NSW – was 'vicariously liable in negligence' for failing to ensure there was adequate sand in the landing area and that it was properly raked. In October 2024, a judge ruled in favour of the state of NSW. However, the teenager successfully appealed the decision, with a fresh judgment handed down on Friday. The appeals panel ruled that the student be awarded $276,500 in damages plus interest. In the original judgment, District Court Judge Robert Newlinds SC ruled that while the student had 'suffered ongoing back pain', the teenager had successfully gone on to excel in the school's rowing team, athletics, basketball and soccer. He was also 'not satisfied' that the school failed to take adequate precautions against the risk of harm, as they were checking and raking the sand level 'every two or three jumps'. However, the panel ruled the school should have checked and raked the sand level after each student's turn. The panel also ruled that while the student had gone on to enjoy athletics, he would continue to have lifelong pain, which could affect his future income. 'In his oral evidence below, [the student] was asked what jobs he had in mind after he left school. He said that he had a few ideas, including possibly going into finance or an IT job like his mother,' the panel decision said. 'He then added that he appreciated that those jobs would involve a lot of sitting and not moving and that if he was to work in finance and was sitting down for most of the day, he would 'have a lot of pain and it's going to make the job quite hard.' The court also heard that teen had worked as a basketball referee in the amount of $16 a game prior to the incident, which he was now unable to do. 'There are undoubted risks in school sports, but they form part of the curriculum in many primary schools and the community rightly recognises that such activities are beneficial for young children when properly supervised,' the panel decision stated. 'I am comfortably satisfied that there was a breach of duty on the part of the School in failing to take reasonable precautions to minimise the risk of injury from long jumping.'
ABC News
an hour ago
- ABC News
Hundreds gather in Brisbane over deaths in police custody, Sydney rally expected
Aboriginal and Torres Strait Islander readers are advised that this article contains the name of an Indigenous person who has died, used with the permission of their family. Hundreds of protesters gathered in Brisbane's King George Square to "demand justice" over the death of 24-year-old Kumanjayi White, who died in police custody in the Northern Territory last month. Mr White died last Tuesday after he was restrained on the floor of a Coles supermarket in Alice Springs. Police have said two off-duty officers detained him after an alleged altercation with a security guard who accused him of shoplifting. Organiser Sam Watson expressed anger that Mr White's death comes more than three decades after the royal commission into Aboriginal deaths in custody. "These deaths are happening all over the country, and they have been for the 30 years since the royal commission," he said. The statements were met with shouts of "shame" from the crowd gathered. Raelene Nixon, whose 27-year-old son Steven Lee Nixon-McKeller died in police custody in Toowoomba in 2021, joined protesters. "We do this not for those we've lost but for those who are to come; we have a responsibility to our future generations. "One third of the deaths in custody have been Aboriginal people but we make up just three per cent of the population. "When we ask for justice, they give us silence and more violence." Wakka Wakka man and South Sea Islander Kevin Yow Yeh called for more community support from the crowds gathered. "Solidarity means action; you've come here today but there's so much more we need to do," he said. "This story is unfortunately not a unique one. "This is our opportunity to mobilise and active, do something, because they're killing us." Another rally is expected to be held in Sydney this evening. They follow rallies held across the nation, including in Alice Springs, yesterday.
SBS Australia
an hour ago
- SBS Australia
Housing heat: The city picking up pace as prices break records
National home prices hit a new record in May, growing by 0.39 per cent, while Melbourne had a monthly growth of 0.79 per cent. Source: AAP / Diego Fedele Australian home prices have continued to rise, reaching a new record high last month, amid falling interest rates. While all capital cities saw prices increase in May — with Sydney, Brisbane, Adelaide, Perth and Darwin all now at price peaks — Melbourne had the strongest monthly rise of 0.79 per cent, according to PropTrack's latest Home Price Index. The report, released this week, states national home prices lifted 0.39 per cent — the fifth consecutive month of growth — meaning they're up 4.12 per cent year-on-year. "With interest rates falling, price momentum has increased and broadened, with all capitals seeing prices lift in May," REA Group Senior Economist and report author Eleanor Creagh said. 'Price growth across the capitals is starting to converge. Melbourne, which previously lagged the other capitals, is now seeing home price growth pick up." Melbourne is continuing to recover after a "prolonged period of softer growth", the report says, with the median home value sitting at $782,000. However this remains 2.85 per cent below the city's peak. It was also the only capital city to record a drop (-0.38 percent) in year-on-year home prices in May. Meanwhile, Perth's median home value was $787,000 — representing the first time in a decade that it has overtaken Melbourne. Perth had a monthly rise of 0.27 per cent, while Brisbane lifted 0.24 per cent. "Cities such as Perth and Brisbane are now seeing growth moderate after strong outperformance. The growth seen in all capital cities is underpinned by improved buyer sentiment and renewed confidence following interest rate cuts," Creagh said. Along with Melbourne, Adelaide and Sydney led the monthly rises, at 0.52 and 0.39 per cent. Outside the capital cities, regional prices rose 0.25 per cent, according to the report, with annual growth of 5.19 per cent outpacing the combined capitals (3.71 per cent). "With further price increases and rate cuts expected, prospective buyers are moving off the sidelines and accelerating their purchasing decisions." Meanwhile, the Organisation for Economic Cooperation and Development (OECD) warned Australia to boost housing supply and address falling affordability as it revealed a downgrade to its economic growth forecast for 2025. It said Australia's gross domestic product would grow at 1.8 per cent this year, down 10 basis points from its prediction in March, as United States President Donald Trump's tariffs hit demand for Australian exports — especially if China experiences a marked slowdown. The organisation downgraded its global growth forecasts from 3.1 per cent to 2.9 per cent this year. But economic growth is expected to accelerate to 2.2 per cent next year — an increase from its prediction earlier this year and in line with the OECD's estimate of Australia's economic potential. The OECD's forecast for 2025 is lower than the Reserve Bank's estimate of 2.1 per cent but in line with its 2026 prediction. Inflation will remain close to target, averaging 2.3 per cent over 2025 and 2026, the OECD projected. That's below RBA estimates, which predict headline inflation accelerating to 3.1 per cent by the end of the year. The OECD said the central bank would be warranted to continue easing interest rates, but must be nimble to change path in case of unexpected external shocks. Looking ahead, Creagh warned to expect further home price growth throughout the year. "While stretched affordability will remain a constraint, a chronic lack of new housing supply, population growth, and targeted buyer incentives are expected to keep upward pressure on prices," Creagh said. "In combination with interest rates continuing to move lower, these factors are likely to drive further price growth throughout the remainder of 2025.' — With additional reporting by the Australian Associated Press.
