Big industry super unites in political lobbying power play

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A new “big eight” of super funds will dominate the retirement savings system; Spanish football federation president Luis Rubiales will resign from his role. Follow updates here.

Spanish football federation chief Luis Rubiales, engulfed in a scandal over allegations he gave an unsolicited kiss to a player on the women’s World Cup team last month, said on Sunday he will resign from his position as president.A Spanish prosecutor filed a complaint with the High Court against Rubiales last week for sexual assault and coercion over his allegedly unsolicited kiss on the lips of Jenni Hermoso.

“After the rapid suspension carried out by FIFA, plus the rest of the proceedings opened against me, it is clear that I will not be able to return to my position,” Rubiales said in his statement. “Insisting on waiting and clinging ... is not going to contribute anything positive, neither to the Federation nor to Spanish football. Among other things, because there are de facto powers that will prevent my return,” he added.Rubiales has insisted the kiss was consensual but the case has sparked outrage among players and many in wider Spanish society.“I have faith in the truth and I am going to do everything in my power to make it prevail,” he said.

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Big industry super unites in political lobbying power playA new “big eight” of superannuation funds will dominate the $3.5 trillion retirement savings system with a lobby group dominated by Labor heavyweights.
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