ASX winners and losers from the Victorian budget
ASX winners and losers from the Victorian budget
The Victorian state government handed down its budget today with billions in new taxes and cuts that will create winners…
Brendon’s passion for shares started by accident in 2003 and he has worked in various roles around capital markets ever since as a trader, stock analyst and markets reporter with the Australian Financial Review. Most of his wealth has come from share investing than any other asset class, and that has given him the financial freedom not to work full-time, if he chooses to.
Workers Struggles: Asia, Australia and the Pacific
14 May 2021
India: Striking health workers in Punjab sacked
Around 1,400 striking National Health Mission (NHM) workers, including staff nurses, medical officers, homeopathy Ayurveda doctors and ministerial staff, were sacked by the Punjab government on May 10 for refusing to end their week-long strike.
About 3,000 NHM workers walked out on strike to demand higher wages and permanent jobs. The sacked workers, who were fired through the draconian Disaster Management Act, were from seven districts in Punjab.
Last September over 30,000 NHM contract workers held a national stoppage over the same demands. Although many have had ten years’ service, they are paid meagre salaries and are denied entitlements available to regular government employees.
Image source: Getty Images
Respected fund manager Wilson Asset Management (WAM) has recently identified two ASX shares that it owns in its portfolio.
WAM operates several listed investment companies (LICs). Some focus on larger companies like
WAM Leaders Ltd (ASX: WLE) and
There’s also one called
WAM Capital Limited (ASX: WAM) which targets “the most compelling undervalued growth opportunities in the Australian market.”
The WAM Capital portfolio has delivered an investment return of 16.5% per annum since inception in August 1999, before fees, expenses and taxes. This gross return outperformed the S&P/ASX All Ordinaries Accumulation Index return of 8.6% per annum over the same timeframe.
Workers Struggles: Asia, Australia and New Zealand
7 May 2021
Korea: Renault Samsung autoworkers locked out
Renault Samsung Motors management locked out 1,900 workers at its Busan plant, 450 kilometres south of Seoul, on Tuesday morning. Management initiated the lockout in response to strike action the previous Friday, again on Monday and a planned eight-hour walk out on Tuesday.
The unionised workers voted to take strike action in February, in protest against management demands for a voluntary retirement program, a wage freeze and reduced bonus of 3 million won ($2,700), citing reduced sales due to the COVID-19 pandemic.
Workers are demanding a 70,000-won increase in basic pay, a 7 million won bonus and are opposed to the company’s restructuring plans.
Acquisition expands Bridgestone’s global mining solutions business in key markets such as Australia, Chile and South Africa.
Otraco’s extensive service network and world-class tire solutions portfolio will strengthen the way OTR customers are served by Bridgestone worldwide.
The transaction is targeted for completion by the end of 2021.
Bridgestone Corporation (Bridgestone) has this week announced that its group company Bridgestone Mining Solutions Australia Pty. Ltd., has entered an agreement to acquire Otraco International Pty Ltd (Otraco), a leader in Off-the-Road (OTR) tire management solutions, from Downer EDI Limited. This acquisition will accelerate the growth of Bridgestone’s global mining solutions business and expand the company’s service network in key markets such as Australia, Chile and South Africa.