March
Influencers v has-beens turns the budget into a showdown
Faced with a dire budget set-up, Chalmers threw open the doors to the nation’s social media self-promoters.
February
Wayne Swan, Cbus still won’t answer the question
The Labor powerbroker and Cbus chairman and Liberal Senator Andrew Bragg seem at odds on what constitutes an answer to a question on notice.
Revealed: Cbus’ secret governance report details deep union ties
Commissioned in 2015, the review found the super fund was reliant on the CFMEU to enforce the payment of super in a difficult industry, creating big risks.
January
Cbus hits ‘sweet spot’ as it surpasses $100b in assets
The construction industry superannuation fund reached the milestone despite a “blip” in November and December when it faced regulatory and political pressure.
Prudential watchdog must release secret Cbus review: advice
New advice from the clerk of the Senate argues APRA has no grounds to keep the critical review secret from parliament.
December 2024
Cbus says $387,000 birthday party was in members’ interests
The industry fund used money earmarked for staff professional development to host a 40th birthday bash for more than 750 guests
Greens the worst political performers of 2024: AFR readers
The Greens have been judged the worst-performing party by readers of The Australian Financial Review, who criticised its MPs for obstructing parliament.
Big super reckoning: what the Cbus woes mean for industry funds
This week on The Fin podcast, James Thomson and Hannah Wootton on the case against the firm, what it means for industry funds and why the “super wars” are back.
Wayne Swan’s Cbus testimony an unexploded bomb
A discrepancy has now emerged between Wayne Swan’s (very) recent Senate testimony and the findings of a review dated two days before his appearance.
Cbus’ Swan has ‘serious questions’ to answer: Coalition
Fundamental transparency and accountability failings at the industry super fund may yet claim the scalp of its chairman.
Super sector’s problems are much bigger than Cbus
The damning review of governance at CBUS shows while industry funds have led the way in gathering and growing assets, they now need to play governance catch-up.
How Cbus’ big party year went horribly wrong
It’s not the biggest or the worst performing of the super funds. So why has Cbus become the poster child for the $4 trillion sector’s problems?
Super funds should be governed like banks
Wayne Swan’s defence of the appointment of CFMEU-linked trustees to the Cbus board shows why APRA should be able to remove directors who do not meet the criteria.
November 2024
Crumlin had ‘extensive experience’ in super before getting Cbus job
Construction industry super fund chairman Wayne Swan has defended CFMEU-appointee Paddy Crumlin’s suitability to help oversee its $94 billion in retirement savings.
Swan apologises for Cbus; Chalmers’ RBA odds; Praise for stock pickers
Read everything that’s happened in the news so far today.
Wayne Swan caves to Senate demands over Cbus scandal
The former Labor treasurer and Cbus chairman had refused to appear at a Senate committee hearing until he was threatened with compulsion.
Senate demands answers from Wayne Swan on Cbus scandal
It comes as Cbus faces a reckoning over its customer service and governance and after the fund tried to dodge earlier requests to appear before the Senate.
Big Super’s reckoning has arrived
After 32 years of guaranteed inflows from workers and scant scrutiny, the $3.9 trillion industry faces customer fury over service, unclear investment practices and questionable governance.
CFMEU foists officials onto the board of Cbus
The union is being administered by Mark Irving KC. But he doesn’t call all the shots, as shown by the appointment of Paddy Crumlin to Cbus.
ASIC’s Joe Longo named Time climate crusader
This feels like 2011, when Euromoney opened our eyes to the charms of Wayne Swan.