Latest news with #ASX200
The Advertiser
a day ago
- Business
- The Advertiser
Employers urged to double down on workplace diversity
Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams. Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams. Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams. Australian workplaces are being urged to double down on diversity, equity and inclusion programs rather than follow the United States in dismantling them. Known colloquially as DEI, these initiatives are designed to create a fair and inclusive workplace with diverse people, where the playing field is levelled and all feel welcome. Since his most recent election as United States president, Donald Trump has wound back government DEI programs with many private sector companies following suit. But the former head of the Australian Retailers Association, Paul Zahra, wants Australian businesses to take a different path. Recently appointed patron of Pride in Diversity, an organisation that supports employers in all aspects of LGBTQ workplace inclusion, Mr Zahra said the need for diverse visibility had never been greater. When appointed chief executive of David Jones in 2010, he was the only openly gay leader in the ASX 200. During his time at the retailers association, Mr Zahra then championed DEI by signing retailers up to gender and LGBTQI equity statements and advocating for First Nations peoples. "I bring lived experience and I understand the complexities," he told AAP. "For LGBTQI people there is still a social taboo and it's not always socially acceptable." But rather than going down a rabbit hole of winding programs back, diversity, equity and inclusion should represent an opportunity for employers. "People need to see it as an economic imperative and what is happening in the US means Australia can position itself advantageously," Mr Zahra said. "While Washington rolls back DEI initiatives ... Australia has a unique chance to position itself as a global leader in inclusive business practices and reap the substantial economic benefits that come with it." The White House has defended its shutting down of DEI programs within government, calling the framework a form of discrimination and says its transgender policy protects women by keeping transgender women out of shared spaces. But Mr Zahra, who led the retailers association through the COVID-19 pandemic which was one of the toughest periods in retail history, said he had seen time and again how diverse leadership teams outperformed homogeneous ones. "As this continues in the US, more of the talent will be forced out and Australia has a real opportunity to capture that talent," he said. "When your competitors abandon proven business practices, Australia can capture the talent that values inclusion." Recent Diversity Council Australia research shows some progress has been made in Australian workplaces towards diversity and inclusion but opposition to these efforts has doubled to seven per cent since 2017. Despite having more ways of reaching colleagues than ever, the Inclusion at Work Index found workers report feeling less connected and able to contribute to their teams.
Perth Now
2 days ago
- Business
- Perth Now
Miners soar, ASX falls on Trump move
Australia mining stocks surged on Friday, but it was not enough to lift the local market as every other sector slipped. On a seesawing day of trading, the ASX 200 closed down 9.10 points or 0.11 per cent to 8,580.10. The broader All Ordinaries also slipped down 10 points or 0.11 per cent to close the week at 8,816.70. The pullback in shares came after US President Donald Trump announced on NBC News that blanket tariffs of between 15 to 20 per cent were coming for most trading partners, while Canada would likely face 35 per cent tariffs on some goods. That saw the Australia dollar swing from its highest point since November to fall back as the US dollar strengthened against all Asian currencies. Australia's sharemarket finished in the red despite strong gains from the miners. NewsWire / Jeremy Piper Credit: News Corp Australia At the close of trading the Australian dollar was buying 65.83 US cents. Commonwealth Bank associate director international economic and currency Carol Kong said the US dollar rose after a 'barrage of threats by President Trump.' 'Near record high US equities and the lack of significant negative impacts of tariffs on the US economy to date have likely emboldened President Trump to increase his aggression on tariffs,' she said. 'AUD/USD briefly dropped by about 0.6 per cent below 0.6560 in the Asia session after President Trump threatened more tariffs.' On an overall negative day sparked by Mr Trump's latest tariffs update, 10 of the 11 sectors on the ASX fell. The one bright spot was the mining sector as the price of iron ore hit a two month high. BHP shares jumped 2.77 per cent to $39.36 while Fortescue Metals rose 2.85 per cent to $16.98 and Rio Tinto gained 2.28 per cent to $111.10. Shares in Australian rare earth miners jumped on the announcement from the US Department of Defence after it agreed to take a 15 per cent stake in US producer MP materials for $US400m ($607m) which closed more than 50 per cent higher on the announcement. Only one of the 11 sectors finished higher. Picture Newswire/ Gaye Gerard. Credit: News Corp Australia Lynas Rare Earths soared 16.65 per cent to $9.67 and Iluka Resources climbed 22.9 per cent to $4.89 on the back of this announcement. Offsetting the gains from the miners were falls in major banks with bourse heavyweight CBA dropping 0.53 per cent to $179.42, NAB slipping 0.33 per cent to $39.61 and Westpac down 0.18 per cent to $33.81. ANZ was the outlier closing 0.13 per cent higher at $30.33. In company news, construction materials business John Lyng Group soared 22.33 per cent to $3.89 after informing the market it had agreed to sell itself to Pacific Equity Partners for $1.3bn. Shares in Vulcan Energy Resources slumped 13 per cent to $3.48 after completing a strategic placement led by BNP Paribas Clean Energy Solutions Fund. The lithium developer raised $53.6m at a 15 per cent discount of $3.40 a share.
Yahoo
2 days ago
- Business
- Yahoo
Miners soar, ASX falls on Trump move
Australia mining stocks surged on Friday, but it was not enough to lift the local market as every other sector slipped. On a seesawing day of trading, the ASX 200 closed down 9.10 points or 0.11 per cent to 8,580.10. The broader All Ordinaries also slipped down 10 points or 0.11 per cent to close the week at 8,816.70. The pullback in shares came after US President Donald Trump announced on NBC News that blanket tariffs of between 15 to 20 per cent were coming for most trading partners, while Canada would likely face 35 per cent tariffs on some goods. That saw the Australia dollar swing from its highest point since November to fall back as the US dollar strengthened against all Asian currencies. At the close of trading the Australian dollar was buying 65.83 US cents. Commonwealth Bank associate director international economic and currency Carol Kong said the US dollar rose after a 'barrage of threats by President Trump.' 'Near record high US equities and the lack of significant negative impacts of tariffs on the US economy to date have likely emboldened President Trump to increase his aggression on tariffs,' she said. 'AUD/USD briefly dropped by about 0.6 per cent below 0.6560 in the Asia session after President Trump threatened more tariffs.' On an overall negative day sparked by Mr Trump's latest tariffs update, 10 of the 11 sectors on the ASX fell. The one bright spot was the mining sector as the price of iron ore hit a two month high. BHP shares jumped 2.77 per cent to $39.36 while Fortescue Metals rose 2.85 per cent to $16.98 and Rio Tinto gained 2.28 per cent to $111.10. Shares in Australian rare earth miners jumped on the announcement from the US Department of Defence after it agreed to take a 15 per cent stake in US producer MP materials for $US400m ($607m) which closed more than 50 per cent higher on the announcement. Lynas Rare Earths soared 16.65 per cent to $9.67 and Iluka Resources climbed 22.9 per cent to $4.89 on the back of this announcement. Offsetting the gains from the miners were falls in major banks with bourse heavyweight CBA dropping 0.53 per cent to $179.42, NAB slipping 0.33 per cent to $39.61 and Westpac down 0.18 per cent to $33.81. ANZ was the outlier closing 0.13 per cent higher at $30.33. In company news, construction materials business John Lyng Group soared 22.33 per cent to $3.89 after informing the market it had agreed to sell itself to Pacific Equity Partners for $1.3bn. Shares in Vulcan Energy Resources slumped 13 per cent to $3.48 after completing a strategic placement led by BNP Paribas Clean Energy Solutions Fund. The lithium developer raised $53.6m at a 15 per cent discount of $3.40 a share. Error in retrieving data Sign in to access your portfolio Error in retrieving data
The Advertiser
2 days ago
- Business
- The Advertiser
Aussie shares dip despite strong gains by mining sector
Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday. Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday. Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday. Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday.
Perth Now
2 days ago
- Business
- Perth Now
Aussie shares dip despite strong gains by mining sector
Strong gains by the mining giants have not been enough to keep the local bourse in the green, with every other sector flat or losing ground. At midday on Friday, the benchmark S&P/ASX200 index was down 15.5 points, or 0.18 per cent, to 8,576.4, while the broader All Ordinaries was down 9.8 points, or 0.11 per cent, to 8,816.8. With a few hours of trading left, the ASX200 was set to post a 0.3 per cent loss for the week, snapping its two-week winning streak. The mining sector rose 1.8 per cent as iron ore prices hit multi-month highs on hopes of further supply-side reform measures in China's steel sector. BHP was up 2.8 per cent, Rio Tinto had added 2.4 per cent and Fortescue had climbed 3.7 per cent. Rare earth miners Lynas and Iluka Resources surged after the Pentagon announced it was taking a multi-billion-dollar stake in New York Stock Exchange-listed rare earth miner MP Materials. It is part of a move by the US to try to reduce reliance on China for rare earth magnets, a critical component of weapons systems, electric vehicles and electronics. Lynas surged 16.6 per cent to a three-year high of $9.665, while Iluka Resources had gained 19.5 per cent to a six-month high of $4.755. Johns Lyng Group had soared 21.7 per cent to a seven-month high of $3.87 after the building services company agreed to be acquired by Sydney-based private equity firm Pacific Equity Partners for $4 a share, or $1.1 billion. Goldminers were lower even as the yellow metal traded for $US3,342 an ounce, up $US16 from Thursday. Northern Star had dipped 2.3 per cent and Evolution lost 2.1 per cent, while Ora Banda Mining had dropped 10.7 per cent to a seven-month low after the WA goldminer announced production results for 2024/25 that investors found disappointing. Elsewhere on the bourse, three of the four big banks were lower. Westpac was down 0.6 per cent and CBA and NAB had both dropped 0.5 per cent. ANZ was the outlier, up 0.3 per cent. In currency, the Australian dollar hit a 10-month high overnight of 65.95 US cents. At midday, it was trading for 65.80 US cents, up from 65.55 US cents at midday on Wednesday.
