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Australia Banks Faulted for 'Broken Lives'

An inquiry into Australia's scandal-plagued financial sector proposes sweeping reforms

An inquiry into Australia's scandal-plagued financial sector proposes sweeping reforms. Peter Ryan is business correspondent for ABC, and explains the background to the problems, and what changes are recommended. Also in the programme, the world's biggest furniture retailer, Ikea, is to test the idea of renting rather than selling furniture. Maureen Hinton is a retail expert at market research firm Global Data, and tells us what's behind the move. Finland has run a two year experiment paying a basic income to 2,000 unemployed people with no strings attached, to see whether the financial incentive encouraged people to get jobs or start businesses. We hear from two of the scheme's participants to see what impact free money had on their lives. Around ten million people are thought to have attended DJ Marshmello's virtual concert in the online game Fortnite over the weekend. We find out more from Stuart Miles of the gadget review website Pocket Lint. Plus our regular workplace commentator Pilita Clark asks whether workplace staff surveys are an essential tool for employee engagement, or a painful ritual that leaves people cold.

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26 minutes

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