Crikey Worm: banks wait with bated breath

ANZ CHARGES ON THE WAY

Cartel charges against ANZ, Citigroup and Deutsche Bank over a $2.5 billion capital raising in 2015 are expected to drop this week, with banking sources tipping the Commonwealth Director of Public Prosecutions to file as soon as Tuesday.

The Sydney Morning Herald reports of mounting speculation over what will be the first criminal cartel action in Australia to focus on financial misconduct, after ANZ announced last Friday that they expect the DPP to file against the three banks for being “knowingly concerned in alleged cartel conduct” in relation to a share offer in August 2015.

All three banks say that they will fight the allegations which, while still to be specified, the AFR ($) reports could relate to a crucial recorded video conference executives took after the capital raising.

REVOLT OVER REFUGEES

City and country ALP branches are calling for changes to Australia’s immigration system ahead of the party’s NSW Labor annual conference, with leaked motions demonstrating a reported strong disconnect between party leadership and members.

The Australian ($) reports that, amongst over a dozen leaked motions submitted from Labor branches ahead of the June 30-July 1 conference, not one supports the party’s policy as it stands. Many of the branches also support a policy document from internal lobby group Labor for Refugees which, amongst other things, calls for a royal commission into detention abuse, an end to offshore detention, and a clear 12-month timetable for determining protection claims and appeal rights under Australian law.

TAKING OUT TRASH

Rangers along remote Northern Territory beaches are reporting jumps in plastic waste and ghost nets pulled into the area from Indonesia and the commercial fishing industry respectively.

The NT News ($) reports that, following monsoon storms from November until March, representatives from both the Thamarrurr Rangers and Dhimurru Aboriginal Corporation have cited massive spikes in waste found along the coastline, including a significant increase in Indonesian plastics.

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THEY REALLY SAID THAT?

You just look at Sebastian and think, boy, man you’ve caused some problems.

Barnaby Joyce

The former Nationals leader and deputy PM takes a swipe at his son, who apparently initiated an affair with a staffer, created an entirely new job for them so as to avoid scrutiny, moved into free accomodation from a businessman and political ally, wracked up some questionable travel claims and expense entitlements, and then finally accepted $150,000 for an interview to largely avoid the whole mess.

CRIKEY QUICKIE: THE BEST OF YESTERDAY

Why is One Nation so fragile?Bernard Keane

“Hanson’s personal and intellectual flaws aside, One Nation has always traded on political disaffection. It is a party composed of people alienated from politics, who see the entire political and economic system as having been turned against them. Not people who really have been the targets of existing power structures — minorities, Indigenous Australians, women — but, generally, older white males unhappy that a political and economic system that they believe should serve their interests above others has been tilted economically away from them via globalisation, technology and neoliberal economic policies, and socially away from them via gender equality, family law reform and anti-discrimination laws.”

Criminal cartel charges against ANZ signal the banking sector’s retributionGlenn Dyer

“Hard on the heels of adverse disclosures at the banking royal commission, the nation’s most aggressive regulator, the ACCC has announced criminal cartel charges against ANZ over a multi-billion dollar share placement in 2015. The bank raised $3.2 billion in August 2015 via a $2.5 billion institutional share placement, and then an offer to shareholders which raised $720 million.”

How an Australian filmmaker took out the most prestigious award in filmKhalid Warsame

“‘I could not possibly expect the reaction it has gotten,’ says Charles Williams. Last weekend, the 36-year-old Australian director’s short film, All These Creatures, won the Short Film Palme d’Or, the festival’s top prize. Williams’ film was one of eight selected for consideration by the festival, from close to 4000 entrants.”

READ ALL ABOUT IT

Inquiry to probe Aboriginal over-representation in youth justice

Mark McGowan to travel to China… again

New claims of hazing, rape, sexual assault at St Mark’s College ($)

‘Extremist’ motorists trolling cyclists on the road and online

Queensland Rail wins Fair Work Commission ruling to allow external hiring of train drivers ($)

Australia to get $66b GDP boost if states rewarded for infrastructure reform: IA ($)

Barnaby Joyce lobbied the PM before receiving $40,000 cheque

One Nation split boosts union clout ($)

Philippine President Rodrigo Duterte tells UN human rights expert: ‘Go to hell’

Israeli military to probe killing of Gaza nurse by its troops near border fence

WHAT’S ON TODAY

Melbourne

• The Fair Work Commission is expected to inform the Metropolitan Fire Brigade (MFB), United Firefighters’ Union, federal government, and Victorian Equal Opportunity and Human Rights Commission over the government and VEOHRC’s application to intervene with the MFB’s Enterprise Bargaining Agreement.

• Former prime minister Kevin Rudd will give evidence at the pink batts class action.

• The Accountability and Oversight Committee will hold an inquiry into the Victorian Ombudsman’s methodologies and outcomes.

• An exhibition depicting First Nations women through photography, paintings, video and installations, Next Matriarch, runs at the Koorie Heritage Trust until June 13.

• Refugee activists will rally outside Labor leader Bill Shorten’s office, after he shut down an ALP state conference debate over the party’s asylum seeker policies.

• Australia’s top cosplayers will sail down the Yarra River into Melbourne ahead of the local leg of the Australian Championships of Cosplay, to be held during Oz Comic-Con June 9-10.

Sydney

• A federal inquiry into the National Broadband Network will feature communication, business, policy, rural and Indigenous representatives. 

Canberra

• A Future of Work inquiry will hear from business, public service, disability, volunteer, academic, policy and recruitment representatives.

Brisbane

• Rugby league icon Mal Meninga will join with Queensland Environment Minister Leeanne Enoch and the National Retail Association for a campaign ahead of plans to ban plastic bags in the state from July 1.

Queanbeyan, NSW

• Shooters Fishers and Farmers’ MLC Robert Brown will hold a media conference to announce a candidate to challenge NSW Deputy Premier and Nationals leader John Barilaro at the next state election.

Adelaide

• The City of Adelaide will hold a free workshop for local businesses looking to embrace an increasing number of Chinese visitors to the city.

Darwin

• Artists from Darwin’s Free Space Studio, a community organisation for young artists with disabilities, will launch an exhibition exploring identity in Who We Are from today until June 22.

Hobart

• Launched over the weekend, Alice’s Adventures Under Ground explores the mind of author Lewis Carroll and runs until Saturday June 9.

Western Australia

• Today is WA Day, with cities and towns around the state celebrating with festival events.

London, England

• Pauline Hanson will begin a five-day trip of the UK and France.

THE COMMENTARIAT

Franchise industry in firing line as inquiry heats up ($) — Adele Ferguson (AFR): “In the past few days the scandal-ridden franchise operator Retail Food Group (RFG) appointed a new chief executive to try and put a lid on the overflowing discontent among many of its Gloria Jeans, Michel’s Patisserie, Brumby’s Donut King and Crust Pizza franchisees. The change in leadership came as a joint parliamentary inquiry into the $170 billion franchise industry kicks off the first of a series of hearings on June 8 in Brisbane, RFG’s home town.”

WA federal election battleground seats mapped out by Bill Shorten, Malcolm Turnbull visits — Jacob Kagi (ABC): “Few things in politics present a clearer picture of how elections are likely to transpire — and the location of the key battleground seats — than where the big names are spending their time. Federal leaders have limited time and, with six states, two mainland territories and 150 House of Representatives seats to cover, they inevitably have to prioritise their time and effort on the places they think will decide the contest. With an election drawing closer — Malcolm Turnbull is expected to call it early next year — Bill Shorten’s busy diary in WA tells a lot about what Labor is expecting from the next poll.”

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