Dentons Achieves Landmark 0% Median Gender Pay Gap in Australian Legal Industry, ET LegalWorld
2 min read
Dentons achieves 0% median gender pay gap
Dentons, an Australian law firm, reports a 0% median gender pay gap. This makes them the first large law firm in Australia to achieve this. The firm credits its Gender 360 Strategy for the progress. In 2022, the gap was 15%. Policies supporting work-life balance also helped. These include paid family leave and flexible work.
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Mint
11 hours ago
- Mint
Dollar-Yuan trading surged in April volatility, BOE survey shows
The amount of Chinese yuan traded versus the US dollar soared in London during April's market ructions, outstripping the increase for other major currency pairs, according to Bank of England data. While currency trading in London surged to a record as President Donald Trump's trade tariff policies roiled global markets, the jump in the dollar-yuan pair was particularly notable. Daily average turnover jumped 42% to $182.6 billion from October 2024, among the biggest increases for any pair, according to the BOE's semi-annual turnover survey published this week. The reported increase in yuan volumes, which chimes with a similar survey in Singapore, may be welcomed by Chinese officials who have been trying to boost the currency's global appeal for years. The future of the US dollar's status as the world's reserve currency has been hotly debated this year amid concerns over America's fiscal discipline and unpredictable policymaking. As a share of London's overall volumes, dollar-yuan climbed to 4.5% from 4% six months earlier, overtaking the amount of US dollars traded versus the Australian and Canadian dollar. Market share of the top three traded currency pairs — euro-dollar, dollar-yen and pound-dollar — remained broadly in line with previous surveys. On a year-on-year basis, FX turnover in April 2025 increased by 20% compared with the BOE's April 2024 survey. Since April 2008, overall FX turnover has risen steadily to $4.045 trillion from $1.815 trillion. The surge in dollar-yuan trading volumes in London signals China's growing prominence in the global foreign exchange market, even amid heightened global uncertainty. With daily turnover up 42 percent and the pair gaining market share, the data highlights a notable shift in FX dynamics. This could aid China's long-term goal of internationalising the yuan. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hindustan Times
12 hours ago
- Hindustan Times
Australian Rare Earth Producer Braces to Take on Rival China With Help From Trump
Lynas Rare Earths reported a jump in fourth-quarter production and revenue, and sounded optimistic about benefiting from President Trump's efforts to loosen China's chokehold on critical minerals needed for cars, smartphones and missile systems. Earlier this month, the U.S. Defense Department agreed to invest in rival producer MP Materials in a deal that included a guaranteed price floor at nearly double recent rare-earth prices. Lynas Chief Executive Amanda Lacaze said Thursday that the unusual deal sent a clear message that the U.S. is determined to rebuild a rare-earth supply chain outside China, which currently refines around 90% of the world's rare earths. That should ease concerns among manufacturers about the availability of future supplies, and result in a much larger and more dynamic industry elsewhere in the world, Lacaze told analysts on a call. 'On balance, our view is that developing a vibrant outside-China industry will be good for everyone,' she said. 'But it will be best for us,' she added. Lynas is the largest producer of separated rare earths outside of China. Western companies have long complained that China uses its control over rare earths to suppress competition, sometimes flooding the market to drive out rivals and at other times imposing restrictive export policies that disrupt manufacturers. Lacaze's remarks followed Lynas's fourth-quarter production results, in which the Perth, Australia-based miner said rare-earth output rose 68% from the prior quarter. The company produced 3,212 metric tons of rare earth oxide in the three months ended June 30, including 2,080 tons of neodymium and praseodymium, up 38% from the previous quarter. Sales revenue rose by 38% to 170.2 million Australian dollars, around US$112 million. It is the first time Lynas has produced more than 2,000 tons of neodymium and praseodymium, used in permanent magnets for electric vehicles and consumer electronics, in a single quarter. The rise in output reflects recent investments in its plant, Lynas said, adding that it aims to stabilize production at higher levels while also ensuring output aligns with market demand. 'We continue to be very focused on how we deliver growth in what is an excellent market in which to be participating, and which we expect will continue to be a significant growth market,' said Lacaze. Lynas said it is experiencing a significant increase in demand from customers and new magnet manufacturing projects. 'We continue to sell pretty much everything that we produce,' Lacaze said. According to Lynas, its average sales price rose to the highest level since mid-2022. That reflects an ongoing focus on building strategic customer relationships and some pricing agreements independent to the market index, it said. Lynas also announced a memorandum of understanding with South Korean permanent-magnet maker JS Link to collaborate on a new magnet manufacturing facility in Malaysia. Shares in the company rose more than 3% by mid-afternoon in Sydney. Lynas recently began producing some heavy rare earths, the first time those critical minerals have been commercially produced outside China in decades. It began producing dysprosium in May and terbium in June. The company said it has received strong interest from customers for those products. 'Our heavy rare earth production is key to our competitive advantage,' said Lacaze. She said that the industry has been on 'a rollercoaster' in recent months as rare earths became a key battleground in the U.S.-China trade war. As U.S.-China tensions escalated in early April, Beijing said it would begin requiring licenses for the export of certain rare earths, including dysprosium and terbium. China's exports of rare-earth magnets last month increased nearly threefold from the previous month after the country lifted some export controls following a truce with the U.S. Lacaze said that it is unclear how the price floor in the Pentagon's deal with MP Materials will affect the industry's benchmark price index, but she believes a dynamic market should generally support higher prices for the critical minerals. Lynas, which is developing a rare-earth processing facility in Seadrift, Texas, continues to maintain a very positive relationship with the U.S. government, Lacaze said when asked whether the Australian company is now at a disadvantage to MP Materials. Under MP Materials's deal with the Pentagon, the U.S. government is committing to spend billions of dollars investing in that company and purchasing its output. The price floor protects the company if China fully lifts its restrictive export policies, which could tank global prices. A White House spokesman earlier said the deal marked 'a major step in rebuilding America's domestic rare earth industry.' Lynas is well positioned to sign new supply deals to take advantage of market strength following that agreement, Jefferies analyst Mitch Ryan said in a client note. 'We are today the only scale producer of light rare earth and heavy rare earth,' Lacaze said. 'And I think, as we have seen at times over the past decade in particular, having our assets in place as operational when the cycle turns—and we are looking at some very positive moves in terms of price right now—means that we can take full advantage of that upswing.' Write to Rhiannon Hoyle at
New Indian Express
13 hours ago
- New Indian Express
Australia to reduce US beef import restrictions denounced by Trump as a ban
MELBOURNE: Australia announced it will reduce restrictions on U.S. beef imports in a move U.S. President Donald Trump's administration claimed as a major victory over "non-scientific trade barriers". Agriculture Minister Julie Collins said Thursday that relaxing the restrictions designed to keep Australia free of mad cow disease, also known as bovine spongiform encephalopathy or BSE, would not compromise biosecurity. "Australia stands for open and free trade — our cattle industry has significantly benefited from this," Collins said in a statement. U.S. Secretary of Agriculture Brooke L. Rollins responded to Australia's annoucement by congratulating Trump on a "major trade breakthrough that gives greater access to U.S. beef producers selling to Australia." She issued a statemeant under the leadline: Make Agriculture Great Again Trade Wins. "American farmers and ranchers produce the safest, healthiest beef in the world. It's absurd that non-scientific trade barriers prevented our beef from being sold to consumers in Australia for the last 20 years," Rollins said. "Gone are the days of putting American farmers on the sidelines. This is yet another example of the kind of market access the President negotiates to bring America into a new golden age of prosperity, with American agriculture leading the way," she added. Australia has allowed imports of beef grown in the United States since 2019. But Australia has not allowed imports from the U.S. of beef sourced from Canada or Mexico because of the disease risk. But the U.S. has recently introduced additional movement controls that identify and trace all cattle from Mexico and Canada to their farms of origin. US cattle import controls satisfy Australian authorities Australian authorities were "satisfied the strengthened control measures put in place by the U.S. effectively manage biosecurity risks," Collins said. The timing of the new, reduced restrictions has not been finalized. Trump attacked Australian import restrictions on U.S. beef when he announced in April that tariffs of at least 10% would be placed on Australian imports, with steel and aluminum facing a 50% tariff. "Australia bans — and they're wonderful people, and wonderful everything — but they ban American beef," Trump told reporters then. "Yet we imported $3 billion of Australian beef from them just last year alone. They won't take any of our beef. They don't want it because they don't want it to affect their farmers and, you know, I don't blame them, but we're doing the same thing right now," Trump added.
