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The Latest Breaking News from Lyn Morgain

Aussie Billionaires Made $67,000 An Hour In 2024, Damning New Report Finds

"Money desperately needed in Australia and abroad to tackle social issues such as access to housing and to respond to worsening humanitarian emergencies, is being siphoned off to the bank accounts of the super-rich."

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Australian billionaires make $67,000 an hour, Oxfam says in call for tax on super-rich

Analysis shows local billionaire wealth rose by 8% last year, meaning tycoons such as Gina Rinehart make 1,300 times more than average person’s pay

The Guardian - AU

Australia’s biggest companies made nearly $100bn in ‘crisis profits’ amid Covid and Ukraine war

Oxfam analysis finds Woolworths, Hancock Prospecting and NAB among companies to rake in much higher profits off the back of crisis conditions

The Guardian - AU

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Afternoon Update: world’s billionaires vastly richer since pandemic; Woolies store vandalised; and Victoria defends $100m Tennis Australia bailout

The wealth of the world’s billionaires grew three times faster than the rate of inflation

The Guardian - AU

Three richest Australians’ combined wealth doubles since 2020 at $1.5m an hour – Oxfam

Report says combined fortunes of Gina Rinehart, Andrew Forrest and Harry Triguboff doubled between 2020 and 2023, while one in eight Australians live in poverty

The Guardian - AU

Ceasefire, aid calls for 'unprecedented crisis' in Gaza

As hostilities pause in Gaza, humanitarian organisations are calling for aid to be greatly increased with fears fuel, food and water are running out.

AAP

Fashion brands not trusted over worker treatment

Oxfam is calling on fashion companies to do better as polling finds Australians don't think they are transparent about how they treat their garment workers.

AAP

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Naughty or nice? Retailers named and shamed ahead of Christmas shopping rush

Retailers have been named and shamed ahead of the Christmas rush for failing to fess up about conditions for workers in their supply chains.

The New Daily

Australia is funding just one-tenth of its fair share of global climate action, study finds

Wealthy high-polluting countries to face growing calls from poorer nations to help cover cost of extreme weather and sea level rises

The Guardian - AU

Oxfam report says Australian billionaires and world's richest men have doubled wealth during pandemic

Oxfam urges governments to consider a 99 per cent, one-off tax on the COVID-19 wealth gains, as its new report reveals that while 99 per cent of humanity is now worse off, "billionaires have had a terrific pandemic".

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