Aussie retirees count the cost of fund managers behaving badly
That has been the bitter experience of more than 12,000 Australians who have lost a collective A$1.2 billion ($1.3b) through investing in three
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7NEWS
6 minutes ago
- 7NEWS
Protests planned across Australia after Sydney Harbour Bridge march
Protest laws could be repealed or expanded following a march across an iconic national landmark, as activists plan for more demonstrations. The pro-Palestine movement, boosted by a march across the Sydney Harbour Bridge which made news across the nation and around the world, hopes to build on its momentum. The march across the bridge and back in pouring rain came after opposition from police, and a court's overruling approval that has politicians worrying about the rare occurrence becoming common. Further protests are planned on August 24 in Sydney, Melbourne, Canberra, Adelaide and Perth with hopes more can be organised in other cities. Ahead of the state's parliament resuming on Tuesday, NSW Premier Chris Minns says his government is examining whether a legal precedent has been set by the Supreme Court judgment that allowed the protest to proceed. 'No one should believe it's open season on the bridge,' he told reporters on Monday. But new laws might be needed to stop future bridge protests. Minns was 'not ruling anything out' but said any legislation could not be rushed. Federal Opposition Leader Sussan Ley encouraged the premier to look at 'what might happen next'. 'Because we can't continue to have these protests that shut down such an important area of a major city,' she told reporters. In her determination declining to prohibit the march, Justice Belinda Rigg said the bridge would have been closed to traffic regardless of whether the protest was authorised or not. Prime Minister Anthony Albanese said demonstrations were an important part of democracy and highlighted the peaceful nature of the Sydney march. 'Australians want people to stop killing each other, they want peace and security ... they don't want conflict brought here,' he said. Minns has faced some internal dissent from other Labor MPs over protest legislation. NSW Greens MP Sue Higginson has also flagged plans to seek the repeal of laws limiting protest, first introduced by the previous coalition government but expanded under Labor. Palestine Action Group organiser Josh Lees, defendant of the court action NSW Police took in an unsuccessful attempt to have the demonstration ruled unlawful, says nationwide protests are being planned for August 24. 'We want to build on this massive momentum we have now,' he told reporters. Despite concerns of regular marches across the bridge, Lees said the group has no plans for a repeat crossing any time soon and accused the premier of having an anti-protest agenda. 'His stance is pretty clear and he's passed a raft of anti-protest legislation already,' Lees said. 'We're going to have to keep fighting for our rights to demonstrate.'
Perth Now
6 minutes ago
- Perth Now
$135m rescue for struggling major employer
The federal, South Australian and Tasmanian governments will inject $135m into the struggling Nyrstar smelting business in response to attempted market dominance from China. South Australian Premier Peter Malinauskas announced the funding at the Port Pirie smelter on Tuesday, flanked by business executives, a day after state cabinet met in the town. South Australian Premier Peter Malinauskas said the lifeline was in the face of 'an unacceptable risk'. Martin Ollman Credit: News Corp Australia 'When people contemplate, 'Is this an appropriate investment on behalf of taxpayers', one also has to think about the counterfactual,' Mr Malinauskas said. 'The counterfactual would be to allow the western world to see China consolidate all of its smelting capacity - all of the world's smelting capacity - which would mean that we don't get to participate in the critical mineral and critical metal supply chain of the future. 'That's an unacceptable risk, particularly in the current geostrategic environment.' Canberra is kicking in $57.5m, SA is contributing $55m and Tasmania will cover the remaining $22.5m. The announcement was made at the Port Pirie smelter. NewsWire / David Mariuz Credit: News Corp Australia Materials coming out of the Nyrstar smelters are crucial for products as diverse as batteries, flame retardants, cameras, semiconductors, and solar panels. Mr Malinauskas flashed a chunk of processed antimony and spoke of its military uses. 'Few Australians would have heard of antimony, but it's a critical mineral that has a number of applications, none more important than the national defence supply chain,' he said. 'In fact, antimony is often attributed for shortening World War II by 12 months. It is something that men and women in the field of battle simply must have. 'And other parts of the world - other countries - one in particular - is seeking to consolidate the production of critical minerals just like this to the exclusion of all others.' Antimony is used to harden bullets. Following WWII, the US Munitions Board assessed the harder, more reliable bullets saved a year of fighting. More to come
Techday NZ
24 minutes ago
- Techday NZ
Age as an asset: Inclusive hiring solutions for Australia's over-50 workforce
In 2025, Australians aged 50 and above make up nearly 25% of the national workforce, playing a crucial role in key sectors including healthcare, mining, professional services, and construction. However, the 2025 Australian HR Institute (AHRI) report reveals that 42% of mature workers report experiencing age discrimination during recruitment and promotion, despite their significant skills and experience. This persistent bias contributes to underemployment and limited retraining access, worsening critical skill shortages. Leading all-in-one HR platform Deel has found that providing inclusive hiring solutions can unlock significant value for businesses. An under-explored talent pool The latest Jobs and Skills Australia Occupation Shortage Report (March 2025) highlights acute labour shortages in healthcare, engineering, and construction trades; sectors where experienced workers are especially vital. The report shows that shortages in occupations requiring significant experience and advanced skills continue to increase, underlining the urgent need for inclusive hiring of older workers. Despite these barriers, the over-50 demographic offers a wealth of untapped skills and experience. Older workers bring invaluable institutional knowledge, problem-solving skills, and a sense of discipline that many younger workers lack. With Australia facing talent shortages across key industries, especially in areas like AI and digital transformation, companies that tap into this experienced workforce, and complement it with global hiring solutions can gain a competitive edge. The question is not whether professionals aged over 50 want to work, but whether companies are ready to adjust their practices to fully integrate them into their workforces. 'OK boomer' In Australia, as elsewhere, older workers face significant misconceptions in the workplace. While they are often seen as more disciplined and loyal compared to younger workers, there remains a strong preference for younger profiles - especially in tech-heavy industries, where the average age of workers tends to be much lower. This age bias is reinforced by stereotypes, such as the perception that older workers are less tech-savvy or more costly to employ, and their experience is undervalued. With the rapid acceleration of AI and automation, businesses are already grappling with reskilling their existing workforce – an effort that should extend to older employees as well. By investing in upskilling and reskilling programs, companies can bridge the digital gap and empower older workers to contribute meaningfully in evolving industries. This is an issue that needs to be addressed, particularly as Australia continues to position itself as a global hub for talent, including AI and tech professionals. Moving beyond stereotypes In the workplace of tomorrow, it is essential to foster diversity and inclusion; not just by hiring younger workers, but by fully integrating older employees. This includes redesigning job roles and career progression opportunities for the over-50 group. As companies embrace flexible work arrangements and re-employment options, the focus must shift from seeing older workers as a short-term solution to a long-term investment in a more diverse, inclusive workforce. Industry experts and policymakers are calling for a renewed focus on inclusive hiring practices and targeted upskilling programs tailored to mature workers. Investing in this demographic promises critical returns for businesses. Companies adopting inclusive policies and workplaces for older workers see up to 20% higher productivity and staff retention rates, according to AHRI findings. To remain competitive and resilient amid technological disruption and demographic shifts, Australia must fully leverage the experience and talents of its mature workforce. However, true workforce transformation requires businesses to take the lead, embedding employment strategies for older workers into their talent pipelines and leveraging tools that enable seamless workforce integration. But, to ensure that older workers remain a valuable part of the workforce, companies need to rethink their approach; not just in terms of age, but in terms of opportunity. It is not only about reducing unemployment but ensuring older workers have a chance to thrive in roles that suit their strengths. As we look to the future of work, the challenge is clear: It's not enough to merely offer older workers a seat at the table. They need to be fully integrated into the workforce, with roles that provide meaningful work, respect, and opportunities to contribute. Companies, supported by tools like Deel's comprehensive global workforce management solutions, can make this a reality – helping businesses across Australia tap into the wealth of talent that older workers offer, while supporting their journey through an increasingly digital economy.
