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Your afternoon Briefing

Good afternoon, readers. Here’s what made news this Monday.

Good afternoon, readers. Here’s what made news this Monday.

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ACTU Secretary Sally McManus addressing the National Press Club in Canberra. Picture Kym Smith
ACTU Secretary Sally McManus addressing the National Press Club in Canberra. Picture Kym Smith

Rethink dodgy banks, McManus tells funds

ACTU secretary Sally McManus has urged industry superannuation funds to reconsider their relationships with the major banks in the wake of the revelations at the financial services royal commission.

Ms McManus today wrote to fund chief executives asking them to reconsider their commercial relationships with the “dodgy” banks, saying she had been “appalled by the outrageous and illegal behaviour” uncovered by the commission.

Superannuation funds have billions of dollars of bank stocks in their Australian share portfolios.

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The recently completed air warfare destroyer Hobart leaves Adelaide for it's new home in Sydney, Sunday, August 6, 2017. It is the first destroyer built at Techport. (AAP Image/Brenton Edwards)
The recently completed air warfare destroyer Hobart leaves Adelaide for it's new home in Sydney, Sunday, August 6, 2017. It is the first destroyer built at Techport. (AAP Image/Brenton Edwards)

197 shipbuilders face axe

Government-owned shipbuilder the Australian Submarine Corporation is axing almost 200 jobs.

Most of the 197 job losses would affect “permanent, full-time, highly skilled” workers in Adelaide, unions say.

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Ron Medich lead from court. photo Jeremy Piper
Ron Medich lead from court. photo Jeremy Piper

From Point Piper to jail cell

Pictures have emerged of Ron Medich being led away from court in handcuffs as he prepares to swap his Point Piper home for a jail cell.

The property developer was today found guilty of ordering the murder of his former business partner Michael McGurk.

After almost two weeks of deliberation, a jury returned guilty verdicts on both the murder count against 70-year-old Medich and a separate charge of intimidating Mr McGurk’s widow, Kimberley.

Myer appoints new CEO

Myer has appointed the former boss of iconic British retailer House of Fraser, John King, as its new chief executive, handing the UK retailer one of the hardest jobs in Australian retail has he tries to stem the losses at Australia’s biggest department store and return it to profitable growth after decades of drifting.

Mr King will be paid a fixed salary of $1.2 million and receive $900,000 equity in the form of share rights granted upon his commencement.

The head of Korean Air Lines Co. said Sunday that his two daughters had resigned from their positions at the company
The head of Korean Air Lines Co. said Sunday that his two daughters had resigned from their positions at the company

Notorious airline sisters resign

One was accused of throwing water at the face of an employee. The other ordered a flight turn round after she was served macadamia nuts in a bag, instead of on a plate.

Now, the head of Korean Air Lines Co. says his two daughters have resigned their positions at the company after an uproar over allegations they abused their subordinates.

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Brighette Ryan
Brighette RyanWeekend Digital Editor

Brighette Ryan is The Australian's digital night editor. She was previously Social Media Editor, leading the paper's social media strategy across platforms including Facebook, Twitter and Instagram. Brighette has also worked as a producer for 2SM and as a social media producer for the Nine Network.

Original URL: https://www.theaustralian.com.au/news/briefing/your-afternoon-briefing/news-story/091cab5599fc6aa75a6cbd1be02ea858