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FIFO workers come back to earth

Illustration: Simon Bosch
Peter Ker

What was once a life of luxury in desert oases, with menus featuring crayfish and barramundi is now, thanks to the mining downturn, a bit more Spartan.

NAB is the third of the big four banks to be sued over alleged manipulation of bank bill swap rates.

NAB trader hits out over rate rigging

Sarah Danckert and Clancy Yeates

A National Australian Bank trader allegedly rigged the bank bill swap to the detriment of his colleagues.

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Mining & Resources

Deutsche pulls back on coal mining deals

Once a precious and sought-after resource, coal has fallen on hard times.
Michael Corkery and Clifford Krauss

Even in dark times, there was one bank that many coal miners could still count on for financing and advice: Deutsche Bank. Not any longer.

World Business

The fall of a career Barclays man

The offence was "so terribly out of character", Peter Johnson's lawyer said at sentencing. "It will define his life."
Suzi Ring

To ex-colleagues, Barclays trader Peter Johnson was a bully who oversaw cheating on a benchmark interest rate. To friends, he was "kind and loyal". This week he was sentenced to four years' jail.

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Money

The dirtiest word in finance

In the worst case scenario, investment funds are earning money for jam.
Mitchell Sneddon

In finance, the 'F' word is 'fees' if you're a client and 'fun' if you happen to be on the other side of the fence.

Small Business

Business Video

The changing nature of FIFO work

While fly-in fly-out workers used to enjoy generous benefits, high wages and excellent living conditions, after the slowdown in mineral trade the industry is rapidly shrinking. Nothing tells that story better than Australia's rural airports.

Duration
02:04