Latest / Best of Business / Murray Olds: Australian correspondent on ANZ Australia confirming they plan to cut thousands of jobs

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Murray Olds: Australian correspondent on ANZ Australia confirming they plan to cut thousands of jobs · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talk zed Be
• 0:12
  Speaker 1: Follow this and our wide range of podcasts now on iHeartRadio.
• 0:17
  Speaker 1: International Correspondence with Ends and Eye Insurance, Peace of Mind
• 0:21
  Speaker 1: for New Zealand Business.
• 0:22
  Speaker 2: Murray Old's Australia correspondent with US Now he mus good
• 0:26
  Speaker 2: afternoon Nether. All right, so what's the latest of these
• 0:28
  Speaker 2: comments about the migrants from India.
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  Speaker 3: Well, the lady says it's blown up like a frog
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  Speaker 3: and a blender and no apology from senator, just send
• 0:37
  Speaker 3: a namper Jimber Price. This, of course, is the woman
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  Speaker 3: who jumped into the Liberal Party when it suited her
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  Speaker 3: to join Angus Taylor in the bid for a joint
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  Speaker 3: leadership team with the demise of Peter Dutton. It's an
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  Speaker 3: internal fight really. It's being played out over immigration, but
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  Speaker 3: it's also about the conservative wing of the Liberal Party
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  Speaker 3: over here flexing its muscles against the moderates in the
• 1:01
  Speaker 3: middle that woke wet middle. According to the right wingers,
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  Speaker 3: Price is in trouble for saying the Albinezy is letting
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  Speaker 3: in so many migrants, particularly specifically migrants from India, because
• 1:14
  Speaker 3: she said all those people vote labor. Q uproar oh,
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  Speaker 3: I was taken out of context, she says, as she's
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  Speaker 3: being lectured by other liberals. Later said that, you know,
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  Speaker 3: as she was wrong, but she's refused to apologize. Now
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  Speaker 3: here's the thing I did some digging today. Australian Indians
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  Speaker 3: make up about one million people in Australia, above average education,
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  Speaker 3: above average income. Everything you hear about them is terrific,
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  Speaker 3: hard working, patriotic, prosperous. They love cricket and some of
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  Speaker 3: the players actually turn out for Australia, so it's all good.
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  Speaker 3: Susan Lee has done all she can as the opposition
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  Speaker 3: leader to try and hose down as controversy, but Price,
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  Speaker 3: who was the darling of the right wing over here,
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  Speaker 3: still won't say sorry, still attacking liberal moderates.
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  Speaker 4: It's not very.
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  Speaker 3: Helpful for a party that's so far behind, it's nearly
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  Speaker 3: invisible in the political race over here.
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  Speaker 2: Now, what do you make of A and Z announcing
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  Speaker 2: that going to get rid of so many people?
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  Speaker 3: Wow to Cutters are going to be very active though,
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  Speaker 3: shouting their raisers and the alien set. This is what
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  Speaker 3: was going to happen when the new banker arrived, The
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  Speaker 3: new CEO, Nuno Matos he was appointed in May, made
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  Speaker 3: it very clear. I mean internal emails were leaked sadly
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  Speaker 3: went to the wrong people.
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  Speaker 4: We're going to be we're going to be getting rid
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  Speaker 4: of a few people.
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  Speaker 3: Well, hello, today we're found out over the next twelve
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  Speaker 3: months three thousand, five hundred jobs that will be cut,
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  Speaker 3: along with another one thousand contractors. Now A Matos was
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  Speaker 3: hired as part of a deliberate pan to try and
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  Speaker 3: drive costs down, a broader restructure strategy aimed at basically
• 2:50
  Speaker 3: simplifying the bank, he says, and reducing the duplicate rolls. Well,
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  Speaker 3: the union is furious. The finance sector union says, this
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  Speaker 3: isn't a strategy.
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  Speaker 4: It's completely unhinged. As I say, Mattos.
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  Speaker 3: Arrived in May the deliberate high by the board to
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  Speaker 3: improve the bottom line.
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  Speaker 4: He's got a new nickname, Heather Nuno. Get on all right.
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  Speaker 2: Thank you for explaining it, Mars all right, So what
• 3:14
  Speaker 2: do you make of Lachland getting full control?
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  Speaker 4: Well, it means that Daddy has done it again.
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  Speaker 3: Rupert Murdoch, He's ninety four years old and the old
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  Speaker 3: bugger still can take a trick. You'd never want to
• 3:24
  Speaker 3: play cards with Rupert Murdoch. He made this bed a
• 3:28
  Speaker 3: year ago. He looked at his four oldest children, Lachlan, James.
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  Speaker 3: You've got Prudence and Elizabeth, and they had an irrevocable
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  Speaker 3: trust that was set up many years ago, under the
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  Speaker 3: terms of which when Rupert dies, the four adult oldest
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  Speaker 3: kids would share the bulk of the estate. Rupert looked
• 3:48
  Speaker 3: at this last year, looked at us up. His second son,
• 3:51
  Speaker 3: James said, oh, he's a lefty, you know, he's worried about.
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  Speaker 4: Climate trage, a change in tree frogs.
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  Speaker 3: He apparently never considered the two women up to anything,
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  Speaker 3: and he nominated Lachlan as his heir apparent, the one
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  Speaker 3: and only air apparent, and he went to court in
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  Speaker 3: Nevada trying to get this revocable trust changed. Well, the
• 4:10
  Speaker 3: judge threw it out. He said, made it's just a
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  Speaker 3: complete fiction what you're saying. But Lachlan, as I say,
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  Speaker 3: was Rupert's picture run the business. He's the most conservative,
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  Speaker 3: the Rupert was arguing, and the most likely to keep
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  Speaker 3: it operating profitably into the future. As I say, went
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  Speaker 3: to court thrown out. He said, he's going to appeal. Well,
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  Speaker 3: now private talks have settled at all Lachlan is going
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  Speaker 3: to be the single heir of Rupert Murdock when he goes,
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  Speaker 3: but the other three siblings are all now barred from
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  Speaker 3: ever having any shares in the companies. Fox Corporation News Corporation.
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  Speaker 3: Each is to receive more than one billion US dollars
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  Speaker 3: for their shares in those two companies. So it's a
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  Speaker 3: massive win for Rupert. It's kind of customer for Bob,
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  Speaker 3: but he's got plenty.
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  Speaker 2: Real life succession, had a bit of ending aame.
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  Speaker 3: Oh, it's extraordinary, and you know he's set this in
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  Speaker 3: training a year ago and he's done it again. Never
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  Speaker 3: back against him.
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  Speaker 2: No, totally. Hemuz, Thank you very much. Murray Olds earlier, corresponding.
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