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But the court ruled that the right to collective bargaining applies only when there is an “employment relationship” between the workers and the company. Deliveroo riders aren’t employees because their contract gives them the “virtually unfettered right” to pass deliveries on to someone else, the court said. Deliveroo welcomed the decision, saying it confirmed lower court rulings that the company’s riders are self-employed. “This is a positive judgment for Deliveroo riders, who value the flexibility that self-employed work offers,” the company said in a statement. “This dangerous false dichotomy between rights and flexibility is one that Deliveroo and other gig economy giants rely heavily upon in efforts to legitimize their exploitative business models.”
Persons: , Uber, Deliveroo, Deliveroo ”, Nick Hawkins, ” Hawkins Organizations: Independent Workers Union of, European, Human, Deliveroo, Knights Locations: Independent Workers Union of Great Britain
Small toy figures are seen in front of displayed IAG (Insurance Australia Group) logo in this illustration taken, November 8, 2021. The country's top general insurer posted cash earnings of A$452 million ($290.00 million) for the year ended June 30, up from A$213 million a year ago but missing analysts' average estimate of A$656.7 million, according to Refinitiv Eikon data. Australian insurers have seen their profits soar this year, as they incur higher premiums in an elevated interest-rate environment, while also benefiting from a rebound in investment income. The company also expects an insurance margin in fiscal 2024 of 13.5%–15.5%, higher than the 12.6% margin last year. However, elevated inflation in home and motor claims costs, as well as the higher natural perils allowance, impacted the underlying insurance margin, IAG said in a statement.
Persons: Dado Ruvic, IAG, Nick Hawkins, Nausheen Thusoo, Archishma Iyer, Paul Simao, Stephen Coates, Rashmi Organizations: Insurance, REUTERS, cps, Insurance Australia Group, New Zealand, Citi, UBS, Thomson Locations: Australia, New
Small toy figures are seen in front of displayed IAG (Insurance Australia Group) logo in this illustration taken, November 8, 2021. Australia's top general insurer reported a 10.6% rise in GWP to A$14.73 billion ($9.4 billion) for fiscal 2023, matching the Refinitiv estimate. The company also expects an insurance margin in fiscal 2024 of 13.5%–15.5%, higher than the pervious year's margin of 12.6%. IAG also declared a dividend of 9 Australian cents per share, up from 5 cents per share a year ago. The insurer posted cash earnings of A$452 million for the 12 months ended June 30, up from A$213 million a year ago.
Persons: Dado Ruvic, Nick Hawkins, IAG, Refinitiv Eikon, Nausheen Thusoo, Archishma Iyer, Paul Simao, Stephen Coates Organizations: Insurance, REUTERS, cps, Insurance Australia Group, , Thomson Locations: GWP
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