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The Overnight Report: It's Time We Talked


Material Losses
After Tuesday’s strong blue chip-led rally for the ASX200, the futures showed down -12 yesterday morning which was unsurprising, but it was not to be. From the open, the index made another assault on the 7400 level.
At midday the index was up 25 points and just a tad over 7400 but then in came the sellers, with some no doubt deciding the impending Fed meeting was sufficient reason to take profits.
In the wash-up, the final score was materials versus the rest. Big falls in copper, nickel and gold had materials down -1.6%, which translated into a -6.7% drop for copper miner OZ Minerals ((OZL)) and -1.7% for copper miner BHP Group ((BHP)), along with -4.8% for Nickel Mines (NIC)) and -1.3% for Newcrest Mining ((NCM)), to name a few. ....

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COVID-19 Vaccination and related employment law issues | Bryan Cave Leighton Paisner


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With the gradual lessening of locally acquired cases of COVID-19, on 28 April 2021, the Government announced measures to relax restrictions in respect of the operation of restaurants and other premises. While catering business owners and customers welcomed the lengthening of operating hours permitted, various legal issues arise from the relaxation measures, in particular the differential treatment afforded to those who have received a COVID-19 vaccine as compared to those who have not.
Under the latest measures, which the Hong Kong Government refers to as “vaccine bubble”, if all staff in a catering business have received the first dose of vaccine, that business is permitted to provide dine-in services until 11:59pm. If all staff have received both doses, the time for closure for dine-in service can be extended to 1:59am on the subsequent day. For bars and pubs, provided that all staff and customers have rece ....

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Government announces 'Fair Pay Agreements' plan in radical overhaul of New Zealand employment laws


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The Labour government is looking to help employees like cleaners and support workers negotiate better pay with their employers.
The Government has announced a radical overhaul of New Zealand’s labour laws, with a policy package that will supercharge the institutional power of unions and place centralised wage bargaining back at the heart of industrial relations law.
The new Fair Pay Agreement system, announced in Auckland today, is explicitly designed to put a floor under wages by allowing unions to negotiate on an industry-wide basis. If 10 per cent of a workforce, or 1000 workers agree, a new Fair Pay Agreement can be enacted. ....

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NZ goes back to the '70s with new industrial relations club


NZ goes back to the ’70s with new industrial relations club
Overhauled labour laws aim to provide industry-wide coverage for poorly paid workers, but over time there is scope for any number of sectors to be captured.
May 7, 2021 – 2.32pm
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The Ardern government has wound back the clock and is re-regulating the New Zealand labour market, massively empowering the union movement and in doing so, laying the foundations for the country’s very own industrial relations club.
The new industrial instruments, called Fair Pay Agreements, are expected to be legislated by the end of the year.
Any union will be able to instigate an FPA by getting 1000 workers or 10 per cent of the workforce to sign up. Employer groups will be compelled to negotiate a deal, which will then be binding. ....

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