Mon, 22nd Jul 2024

In this podcast, we discuss a recent action by the Victorian Building Authority, who fined Aycon Constructions and its director $250,000 for using fake insurance certificates, urging consumers to verify builders' credentials. We also cover the mixed performance in financial markets, with the ASX 200 slipping 0.27% as technology stocks plummeted. Surprisingly, Cbus and Liontown Resources surged despite wider market challenges, with Cbus making significant moves to diversify and grow despite APRA investigations into FIRST Super's union payments. The puzzling jobs market saw 50,000 new roles but a rise in unemployment to 4.1%, triggering fears of rate hikes and adversely impacting share prices of companies like Domino's Pizza. Lastly, we delve into the insurance sector, where Liberty Mutual Insurance Group's reinsurance unit, LM Re, is expanding in Australia by launching a local branch and hiring Mark De La Mare from Aon.