Money

Telstra becomes first Aussie telco to mandate COVID jab

Published

4 years ago

September 7, 2021

Anthony Lucas

Australia’s biggest telco, Telstra has announced it plans to mandate the COVID vaccine amongst its workforce

The telco giant plans to mandate COVID-19 vaccinations for 8,300 frontline staff.

The mandate though, is in defiance of the Business Council of Australia’s stance that employers should only take this step with the backing of government health orders.

The telco giant stated that it would require about a third of its workforce to be vaccinated, and had commenced a one-week consultation period with staff, unions and partners ahead of what will be one of corporate Australia’s largest mandatory vaccination drives.

We need to focus on rebuilding #hope and the sooner we do the better. That’s a role for everyone. #letsvaxx https://t.co/Ur3F4Obswt
— Andrew Penn (@andy_penn) September 1, 2021

Telstra now faces a showdown with unions over the proposal

Telstra boss Andy Penn says that the vaccine requirement would apply to about 8300 workers but not those who could work from home or were outside Australia.

The telco is facing potential legal challenges, however, after chief executive Andy Penn said in a letter to employees that those who refuse the vaccine may be forced into ‘‘medical retirement’’.

“This policy would make getting vaccinated a requirement for roles where they are in regular contact with customers, the public or other employees, such as our frontline and business-critical teams, and those who need to visit customer premises at times,”

Telstra is now the fourth company to mandate Covid-19 vaccinations, joining SPC – which was the first business to force employees to get the jab, as well as major airline Qantas and Australia’s second-biggest private hospital operator, Healthscope.

Virgin Australia, the second largest airline in Australia is still to confirm its vaccine mandate.

Money

Markets ignore Israeli-Iranian conflict but risks remain high

Markets remain optimistic despite the escalating Israel-Iran conflict, raising concerns of potential complacency among investors.

Published

18 hours ago

June 17, 2025

Ahron Young

Markets remain optimistic despite the escalating Israel-Iran conflict, raising concerns of potential complacency among investors.

In Short:
Market analysts warn that global investors are underestimating the conflict between Israel and Iran, despite resilient stock market gains. Analysts highlight the potential for prolonged conflict and significant impacts on energy markets, cautioning against complacency.

Global investors are currently underestimating the potential impact of the ongoing conflict between Israel and Iran, according to market analysts.

Despite four days of escalating fighting, which has resulted in significant casualties, global stock markets have shown resilience. Stocks in Europe, Asia-Pacific, and the U.S. have all seen gains, indicating a disconnect between market performance and geopolitical developments.

Investment director Russ Mould highlighted the risk of a broader conflict affecting energy markets. He noted that the situation is complex and the ramifications could extend beyond financial concerns.

Heightened risks

Strategist David Roche suggested the conflict may last longer than typical Israeli responses, posing heightened risks. Torbjorn Soltvedt from Verisk Maplecroft expressed that the current situation resembles an open-ended war, with severe implications for the region and global energy markets.

Energy prices have already reacted to the unrest, with crude oil experiencing significant price fluctuations. Analysts caution that a period of calm might lead markets to mistakenly believe in lasting peace, potentially creating buying opportunities in energy assets.

Conversely, some analysts, like Deutsche Bank’s Jim Reid, maintain a more cautious outlook, noting that retaliatory actions between Iran and Israel have yet to escalate dramatically. He indicated that historical patterns suggest a typical market recovery from such shocks.

Money

Australia’s stalled economy forces businesses to innovate or die

Australia’s economy is slowing with 0.2% GDP growth; experts suggest interest rate cuts, prompting businesses to adapt for growth.

Published

7 days ago

June 11, 2025

Ahron Young

Australia’s economy is slowing with 0.2% GDP growth; experts suggest interest rate cuts, prompting businesses to adapt for growth.

Australia’s economy is slowing fast, with GDP growth at just 0.2% and output per person in decline. Experts are now predicting steep interest rate cuts to avoid recession.

What can businesses do to adapt and grow in this climate? Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#AustralianEconomy #RBA #InterestRates #BusinessStrategy #EconomicNews #GDP #TickerNews #AustraliaFinance

Money

World Bank predicts U.S. growth cut by tariffs

World Bank forecasts U.S. growth halving due to tariffs; global economy also faces significant slowdown, especially in exports.

Published

7 days ago

June 11, 2025

Ahron Young

World Bank forecasts U.S. growth halving due to tariffs; global economy also faces significant slowdown, especially in exports.

In Short:
The World Bank has downgraded U.S. growth projections to 1.4% for 2025 due to President Trump’s tariff policies, warning that increased tariffs could worsen the global economic slowdown. The report highlights a decline in growth for multiple economies, with a particular emphasis on the negative impact on living standards and the need for negotiated trade barriers.

The World Bank has downgraded its growth projections for the U.S. economy, forecasting an increase of just 1.4% in 2025, down from the previous year’s 2.8%. This reduction is attributed to President Trump’s tariff policies, which are anticipated to hamper both U.S. and global growth.

The World Bank’s latest report highlights an expected slowdown in multiple economies, including the eurozone, Japan, and India. Mexico is projected to experience the most significant impact, with growth dropping to 0.2% from 1.5%.

Exacerbate the slowdown

Amid these forecasts, the World Bank warned that a further rise in tariffs could exacerbate the slowdown. If tariffs were raised by an additional 10 percentage points, global growth could plummet to 1.8% this year and 2% in 2026. Such an escalation would lead to reduced trade, declining confidence, and increased market turmoil.

Indermit Gill, the World Bank’s chief economist, noted that if a course correction is not made, the negative effects on living standards could be severe. The Organisation for Economic Cooperation and Development has also voiced concerns about the implications of tariffs, predicting a U.S. growth rate of 1.6% with inflation approaching 4%.