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The Latest Breaking News from Jim Stanford

Australia’s biggest states hold out for greater public school funding as deadline passes

Queensland, Victoria, NSW and South Australia defy education minister Jason Clare and push on for a 5% increase in federal funds

The Guardian - AU

Loblaw Has Become an Everything Company

The grocery chain is now involved in pharmacare, financial services, and real estate—with no signs of slowing down

The Walrus

Price-setting 'missing' in the inflation story: Fels

Former competition watchdog chair Allan Fels is scrutinising the connection between corporate price setting and profits and current high inflation.

AAP

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New Report Says Corporate Top Dogs Need To Take A Pay Cut In Order To Increase Our Wages & Duh

A new report has recommended Aussie bosses take a pay cut in order to pair employees a fair wage to curb inflation.

Pedestrian.tv

Not so gentle giants

All the major supermarket chains are accused of taking unauthorised deductions from suppliers’ invoices but Woolworths is the only one so far vowing to investigate the complaints, and hearings will begin in the Senate today on Australia’s freedom of information (FOI) regime.

Crikey

Australian universities report finds quality of education eroded by ‘long-term underfunding’

New report reveals 83% of respondents are concerned universities’ focus on profit is undermining education standards

The Guardian - AU

The mining sector made more than half of Australia's corporate profits, so why do economists want to ignore it?

Australia's mining sector has generated windfall profits over the past two years, the result of dramatically higher prices for fossil fuel energy, but has it driven inflation?

ABC News

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ACTU: Coal-to-renewables transition needs to be ‘with workers, not to workers’

As Australia edges towards its 2050 net zero emissions target, the question of how to support workers and communities affected by the decline of fossil

The New Daily

Targeted measures can better tackle inflation, instead of lifting interest rates

Over 2022 consumer prices increased by 7.8 per cent, about three times as fast as the RBA's target range of 2 to 3 per cent for inflation.

The New Daily

Profits again outstrip wages amid accusations 'corporate Australia is driving inflation'

While workers' pay packets are growing at the fastest pace in a decade, profits are still rising even faster, according to official data.

ABC News

A ‘profit-price spiral’ is the biggest driver of inflation and interest rates in Australia

Priced-in corporate profits footed by consumers accounts for 69% of inflation beyond the RBA’s target, analysis finds.

Crikey

Profits have driven inflation while wages lag behind, argue economists

Increasing profits going to corporate Australia account for more than two-thirds of the nation's inflation problem, according to new research from the Australia Institute.

ABC News

Corporate profits fuelling inflation, research finds

New analysis challenges the narrative that workers need to accept sluggish wage growth to tame inflation and says business profits are driving higher prices.

AAP

‘An economic fairytale’: Australia’s inflation being driven by company profits and not wages, analysis finds

Australia Institute warns of a ‘profit price spiral’ and calls for shift in RBA and government narrative towards corporations

The Guardian - AU

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The New Daily

How to keep investing as sharemarkets fall, interest rates rise and property dips

We've lived through some benign investing times with property and shares rising as interest rates fell for a decade, but things are changing.

The Guardian - US

Canada’s largest grocer to freeze prices amid profiteering accusations

Loblaw Companies says it will lock in prices of ‘no name’ amid looming parliamentary investigation into food retail industry

The Guardian - AU

Business cuts to on-the-job training have made Australia increasingly reliant on migrants, experts say

Academic says companies ‘squealing’ to government about worker skill shortage are contributing to it

The Guardian - AU

Australia’s jobless rate is only 3.4% – so what’s holding wage growth back?

That the tight labour market isn’t leading to real earnings rises is proof of a ‘deep structural weakness’, says one economist

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news in one place.

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The Guardian - AU

ACTU pushes for caps on energy bills and a windfall tax on corporate profits ahead of jobs summit

Report proposes big changes to Australian economy including giving workers more clout to bargain for better pay

ABC News

Artificial intelligence can monitor workplaces for safety breaches. Experts say privacy laws are lagging

AI that uses CCTV to identify health and safety hazards can be trained to identify breaches such as when a worker is not wearing gloves or a hard hat, or to identify hazards like spills. But privacy laws are lagging.

The Guardian - AU

As Australian job vacancies double, which sectors are facing the biggest labour shortages?

With almost full employment, nearly everyone willing and able to work is in a position already. So which industries are feeling the squeeze, and why?

Crikey

Inflation is rising twice as fast as wages — and the PM doesn’t seem to care

Opposing the push for a rise in the minimum wage says a lot about who Scott Morrison governs for. It’s not all of us.

The Guardian - AU

‘Over-the-top alarmism’: economists dismiss concerns wage rises cause inflation

Australia’s minimum wage is shrinking compared to median pay, bucking global trends

The Guardian - AU

Factcheck: is Albanese’s backing of a 5.1% minimum wage rise an ‘unprecedented’ intervention?

Government claims Labor leader is improperly interfering with independent process, but it wouldn’t be the first time a precise number was proposed

The Guardian - AU

Industry warns ’small business can’t afford it’ after Albanese backs 5.1% minimum wage rise

Employers argue that excessive minimum pay increases will fuel inflation as unions call for ‘incredibly reasonable’ boost to meet cost of living pressures

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