Fruit and vegetable company SPC has decided to make COVID19 vaccinations mandatory for its entire staff and visitors, in a first for corporate Australia. SPC has given its staff and contractors six weeks to get their first job if they want to come to work. But the Australian Manufacturing Workers' Union (AMWU) says SPC has failed to properly consult over the demand to make vaccination mandatory. 
Featured: Robert Giles, chief executive SPC; Peter Ryan, ABC.

SPC mandates worker vaccinations - but union says staff should not bear brunt of failed rollout

Australia's digital payments system will be overhauled with greater regulation for buy-now-pay-later companies and cryptocurrency exchanges. The new powers under consideration would give the federal government and regulators like the Reserve Bank greater powers to intervene. Consumer Action Law Centre chief executive Gerard Brody argues a tough new regulator is needed to protect consumers and investors from scams.
Featured: Gerard Brody, Consumer Action Law Centre; Peter Ryan, ABC.

Digital payments crackdown looms with global tech giants to be regulated

Australian forensic sleuths to track Russia's suspected theft of wheat from Ukraine. Perth-based Source Certain boss Cameron Scadding says company has been enlisted by UK government in $2.6 billion three year deal to counter Russia's sanction busting of not just wheat but barley, sunflower seeds, diamonds and gold.

Australian forensic sleuths to track Russia's alleged theft of Ukrainian wheat

Eighteen million cyber attacks a day.

That's what Medibank Private is up against as it thwarts constant hacking attempts, similar to the one last year where customer data was stolen and put up for sale on the "dark web".

18 million cyberattacks thwarted every day - Medibank CEO David Koczkar

The global advisory firm PwC has moved to stem the damage from a massive confidentiality breach that has become a full blown crisis.

PwC is putting more partners on "leave" and is working to ringfence lucrative government business in a bid to salvage the firm's reputation.

PwC puts nine partners on leave, "ringfences" fed gov't work as crisis widens

The Crown Resorts casino empire is bracing for a 450 million dollar fine that's been negotiated with the financial crime agency AUSTRAC.

The proposed penalty - if signed off by the Federal Court - would be one of the biggest in Australian corporate history and ends damaging legal action over anti money laundering breaches and evidence of links with criminal gangs.

Crown agrees to proposed $450m fine for anti-money laundering breaches

If not so serious, I'd call it theatre. The PWC scandal dominates Senate Estimates. I speak on RN Drive with Andy Park

If not so serious, I'd call it theatre. The PWC scandal dominates Senate Estimates.

Greens senator Barbara Pocock grills Tax Practicioners Board chairman Peter de Cure about the two year ban imposed on disgraced PWC partner Peter-John Collins.

Senator Pocock says Mr Collins should have been hit with the maximum five year ban and questions the composition of the Tax Practicioners Board which includes two former PWC partners.

Did PWC partner Peter-John Collins get off lightly with two year ban?

It's another tense day ahead for anyone struggling with rising mortgage repayments.

The Reserve Bank might be about to add to the pain at today's monthly meeting with what could be the 12th interest rate rise since May last year.

More rates pain likely as Reserve Bank on brink of 12th hike since May 2022

Despite 12 interest rates since May last year, a quarter of all residential properties were bought outright with cash last year according to the digital settlements company PEXA. That might surprise or upset many people struggling to pay their mortgage, but the shift of downsizers to regional Australia is a significant demographic shift that highlights the generational divide.
Reporter: Peter Ryan, Senior business correspondent
Featured: Mike Gill, Head of research, PEXA

Cashed-up downsizers go "mortgage free" as generational divide widens

Work in the disability community has also been recognised in this years King's Birthday Honours.

Tracey Corbin-Matchett has received an O A M for her work as chief executive of Bus Stop Films.

It's a not for profit film school and production company that raises the profile of people with disabilities and other marginalised groups.

Tracey Corbin-Matchett speaks with the ABC's Nas Campanella.

Bus Stop Films chief executive Tracey Corbin-Matchett recognised on King's Birthday Honours

Highly-indebted Australian households are set to come under even more pressure with the Reserve Bank signalling it's not yet done with its aggressive rating rising campaign. That's the warning from Judo Bank chief executive Joseph Healy who says while business banking clients look resilient, regular residential borrowers are at greatest risk as economists start predicting a recession by the end of the year.

Highly-indebted households at greatest risk as recession fears rise - Judo Bank chief warns

After ten interest rate rises in a year, the US Federal Reserve has pressed the pause button on what's been an aggressive campaign to tame runaway inflation. But the reprieve might short-lived with Fed chairman Jerome Powell warning inflation remains problematic meaning there could be more hikes this year.

Reporter: Peter Ryan, Senior business correspondent
Featured: Jerome Powell, chair, US Federal Reserve

US Federal Reserve rates "pause" to be a brief reprieve

Get set for at least one more interest rate rise after Australia's jobless rate unexpectedly fell last month.

The surprisingly strong jobs market has rattled some economists who thought the unemployment rate would tick higher under the pressure of aggressive rate rises.

So where to from here?

Rate hike bets rise on May jobless drop

At the moment, anything to do with interest rates and the economy is of massive interest given the risks of a recession by the end of the year.

And this morning we'll see the minutes from the Reserve Bank's most recent meeting which could provide some clues on when the next interest rate rise might be.

Reserve Bank minutes out today. What happens behind the scenes at the minutes lockup?

Mortgage stress rises as RBA weighs 13th hike says Aussie Home Loans

Fears about an unexpected spike in the jobless rate appear to have forced the Reserve Bank to leave interest rates steady a fortnight ago.

That's stoked concerns that the RBA is now worried about going too far with it's aggressive rate hikes - to the point where consumers stop spending and push the economy into a recession.

Fears of jobless spikes forced RBA rates "pause" - so are the hikes over?

Outgoing Reserve Bank governor Philip Lowe has warned inflation remains a major risk, repeating the Board will do "what it takes" to rein it in. Mr Lowe also noted household pain from surging interest rates and concerns that consumer spending could slow more than forecast.

Reporter: Senior Business Correspondent Peter Ryan
Featured: Philip Lowe, Reserve Bank governor

Philip Lowe again warns on inflation risk, will "do what it takes" to get it down

National Australia Bank chief executive Andrew Irvine speaks with ABC senior business correspondent Peter Ryan about Donald Trump's decisive victory. Mr Irvine says while the outcome provides certainty, he's cautious about Mr Trump's plans to ramp up tariffs on goods brought into the US - warning Australia would be hurt by a global trade war with China. Mr Irvine was speaking after the NAB revealed a six percent fall in full year profit to just under $7 billion.

Reporter: Peter Ryan, Senior Business Correspondent
Featured: Andrew Irvine, National Australia Bank chief executive

NAB boss Andrew Irvine welcomes Donal Trump victory - but cautious on tariffs

Australia's economy won't avoid Trump tariffs hit. Treasurer Jim Chalmers warns of a temporary impact on economic output and potentially higher inflation. But Dr Chalmers says he's ready to work with the incoming Trump administration.

Australia's economy won't avoid Trump tariffs hit - Treasurer Jim Chalmers warns

Teenage workers excluded from superannuation because they work less than 30 hours a week is discriminatory, according to the Super Members Council. Chief executive Misha Schubert wants to overturn a historical quirk in super rules could add $10,000 to a retirement nest egg. 
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Jessica Dawson, teenage worker; Misha Schubert, chief executive, Super Members Council; Tyrone O'Neill, REST super
Keywords:

Push to axe "disciminatory" super rule for under-18s

Optus chief executive Stephen Rue has promised to weed out and sack staff who fail to meet the telco's ethical and legal standards. Mr Rue inherits a reputational crisis after Optus sales staff in Darwin and Mount Isa were accused of exploiting indigenous Australians and people with disabilities .. selling them mobile gear they didn't want, didn't need and couldn't afford.

Reporter: Peter Ryan, Senior Business Correspondent
Featured: Stephen Rue, Optus chief executive
Keywords:

Optus boss Stephen Rue vows to sack unethical staff; CBUS braces for senate hearing

Reserve Bank governor Michele Bullock has warned underlying inflation is still too high to consider interest rate cuts. Also, insurance giant IAG has swallowed up the insurance arm of Queensland icon RACQ in a deal worth $855 million. But IAG boss Nick Hawkins tells ABC’s Peter Ryan the RACQ brand will be maintained and there’ll be no job cuts.

Michele Bullock warns on inflation risk; Queensland icon RACQ swallowed up in takeover deal

Australia's economy is limping along on at its slowest pace since the 1990s recession excluding the pandemic and only held up by government spending, according the latest GDP figures out this lunchtime. The National Accounts reveal an economy on life support as aggressive interest rate rises and the high cost of living bite into business and consumer spending.

Economy flatlining in slow lane as rate rises bite - only held up by government spending


Title: US interest rates on hold despite Trump demands to cut
Caption: There's more evidence that Donald Trump's campaign of tariffs is clouding the economic outlook in the United States. The US Federal Reserve has once again defied Mr Trump by not cutting interest rates worried the tariffs war could stoke inflation and hurt the US labour market at the same time..


US interest rates on hold despite Trump demands for Federal Reserve to cut



Title: Donald Trump, Keir Starmer hail limited US-UK trade deal to resolve global tarrif shock
Caption: While the big focus is on white smoke in the Vatican where a new pope has been announced,there's encourging economic white smoke with a new trade deal between Britain and the United States. The important breakthrough is the first trade deal the US has signed after Donald Trump paused his global tariffs campaign last month. So who's the winner? ABC's Peter Ryan explains.
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Donald Trump, US president; Sir Keir Starmer; UK president; Sir Crawford Falconer, former UK trade negotiator










Donald Trump, Keir Starmer hail limited US-UK trade deal to resolve global tarrif shock

US claims "substantial progress” tariff talks with China

US Treasury secretary claims "substantial progress" has been made on brokering a tariff deal with China after Donald Trump imposed a 145 percent tariff on Chinese exports coming into the US and China hit back in kind. Also in Australia, key economic data out this week is likely to lock in anticipated interest rate cut and more to come later this year.



US claims "substantial progress” in high stakes tariff talks with China

There's been a critical truce in the tariff war between the United States and China after the world's two biggest economies agreed tom slash their tariffs on each other for at least 90 days. But the big question is whether this is just a "pause", did Donald Trump "blink"  and could economic hostilities emerge again?

US China tariffs trade impasse paused for 90 days. Did Donald Trump "blink" and can the truce last?



Title: 
Investors with more than $3 million in their superannuation accounts at the moment are increasingly nervous about a proposed new tax that will eat into some super earnings that are yet to be sold or realised. There are concerns that more Australians might be hit in the future given that the proposed levy isn't indexed for inflation if it passes into law. Also, the Telecommunications Industry Ombudsman says there's been a rise in complaints as consumers struggle to pay bills during th cost of living crisis. And economists will be watching the April employment update out this morning - the final data as the Reserve Bank considers an interest rate cut next week. 


Wealthy rush to avoid new superannuation tax on $3 million accounts that targets earnings of unrealised assets


Title: 
Caption: Borrowers hoping to pay down a mortgage a bit faster will be paying close attention to next week's meeting of the Reserve Bank board and the near certainty of an interest rate cut to 3.85 per cent. While economists think the second rate cut this year is locked in, a surging jobs market could see fewer-than-expected rate cuts later this year. ABC's Peter Ryan explains.

Reporter: Peter Ryan, Senior Business Correspondent
Featured: 
Keywords: 














April jobs surge to temper future interest rate cuts

Borrowers paying down steep mortgages are likely to get some extra relief with the Reserve Bank poised to cut official interest rates at tomorrow's board meeting. That would make the second rate cut this year after 13 rate hikes since May 2022 to tame inflation. But economic jury's out on how many more cuts we'll see later this year.
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Besa Deda, chief economist, William Buck



Interest rates relief almost certain tomorrow but economic jury out of more cuts this year with labour market still tight

The Reserve Bank board is highly likely to cut its official cash rate by 0.25 percentage points later today down to 3.85 percent. The big question is whether there'll be followup rate cuts later this year with consumer inflation now back in the middle of the RBA's 2 to 3 percent target band. Economist Warren Hogan says there's a risk inflation could make a comeback given the tight jobs market.
Reporter: Peter Ryan, Senior Business Correspondent
Featured: Warren Hogan, economic advisor, Judo Bank










Reserve Bank poised to deliver interest rate cut but uncertainty about more rates relief given inflation comeback risk

There's a high stakes political showdown underway in Washington at the moment over Donald Trump's proposals for more tax cuts in the United States. Some congressional repubicans - who'd normally back Mr Trump - are nervous about how to pay for the additional tax breaks in the face of concerns the proposal could add trillions to Amerca's already massive debt pile. ABC's Peter Ryan explains.








Wall Street jitters amid worries Trump tax cut bill will add trillions to massive US debt pile

The global technology giant Cisco has joined other companies in slamming Donald Trump's immigration bans. Cisco had added to criticism from the likes of Google, Apple, Microsoft, Netflix and General Electric in urging the Trump administration to reconsider the controversial travel measures. Ken Boal, Cisco's Australian & New Zealand managing director, has been dealing with confused and upset staff and spoke with the ABC's Peter Ryan.

Cisco joins global giants in criticising Trump travel bans

Australian Transactions Reports & Analysis Centre chief excecutive Nicole Rose says she is shocked at the depth of money laundering in the economy involving organised crime, child exploitation and drug importation. Ms Rose was appointed Austrac chief in the wake of the agency's high stakes case against the Commonwealth Bank relating to almost 54,000 alleged breaches of anti money laundering and terror financing regulations. Ms Rose gave her first broadcast interview to the ABC's Peter Ryan.

Child exploitation, drug importation are growing money laundering risks - Austrac boss Nicole Rose

The Commonwealth Bank has confirmed it lost the financial statements of almost 20 million accounts, but insists its customers' account security has not been compromised. CBA's acting head of retail banking Angus Sullivan tells ABC's Peter Ryan the bank decided "on balance" not to disclose the breach despite not being 100 percent certain that the data had been destroyed.

Commonwealth Bank defends 'good decision' not to tell customers about data breach

LISTEN: Reserve Bank set to cut cash rate to 0.1pc. I speak with Thomas Oriti on ABC NewsRadio

Peter Ryan is the one of the ABC's most experienced journalists, contributing to a range of ABC News programs including the flagship radio current affairs program AM, The World Today, PM and ABC NewsRadio.

With more than 30 years of journalism experience, Peter  rejoined the ABC in 2003 as Executive Producer of the ABC Television's Business Breakfast program.

In 2006, he oversaw the development of two new business programs - Lateline Business on ABC Television and Business Today on the ABC's Asia Pacific television service, Australia Network.

Peter's previous journalism career included three years as the ABC's Head of TV News and Current Affairs in Melbourne; more than four years as Bureau Chief and television correspondent at the ABC's Washington Bureau; a year as a producer at the BBC in London; and a range of ABC reporting and producing roles in Melbourne, Sydney, Darwin and the South Pacific.

In addition to journalism, Peter Ryan spent four years in the corporate communications sector as a Director at Weber Shandwick Worldwide and then as a Principal at Porter Novelli in Melbourne.

Peter began his journalism career in newspapers at Sydney's Daily Mirror and he worked in Sydney commercial radio before joining the ABC in 1984.

All copyright and intellectual property used in these reports resides with the Australian Broadcasting Corporation.

PeterRyan

Popular tracks