Archived News for Finance Sector Professionals
A meagre 5 per cent of the country’s organisations have reported what they call smart, sustainable growth needed to see them succeed beyond the Mining Boom a Telstra survey has found.
It's a taxing time for the public finds report
The general public’s views and opinions towards tax and public spending are hardening, with people increasingly seeing themselves as paying too much tax in a system that is becoming progressively less fair, according to a survey conducted by progressive think tank Per Capita.
Labour growth offsets income inequality finds Commission
Australians are working more hours for higher hourly wages, driving a two decade long substantial growth in personal and household income, according to a new report released by the Productivity Commission.
Share options hamstringing innovation finds survey
Providing share options to employees is a burdensome and complicated task that requires a deft hand to deliver, according to a new survey conducted by international consultancy firm Deloitte.
ACCC green lights CBA's Aussie buy
The Australian Competition and Consumer Commission (ACCC) has announced it will not oppose the Commonwealth Bank’s proposed acquisition of a majority stake in Aussie Home Loans (AHL).
Board equality progress unacceptable
The Australian Council of Superannuation Investors (ASCI) has completed its annual audit into board diversity of ASX 200 companies, concluding that progress has been painfully slow in achieving a modicum of gender diversity.
Government moves to consolidate super
The Federal Government has introduced legislation before Parliament that will expand the duties of superannuation trustees to consolidate accounts with an aim to reunite people with their misplaced super.
Government officiates financial services terms
In a bid to ensure genuine services of financial advice, the Federal Government has introduced legislation before Parliament that will enshrine the terms ‘financial adviser’ and ‘financial planner’.
Government releases model rules for financial accountability
The Federal Government has released draft model rules for registered organisations in a bid to help them comply with financial transparency and accountability standards introduced last year.
Housing affordability continues to rally
Home buyers are continuing to reap the benefits of a continued rally in housing affordability, driven by earnings growth, interest rate cuts and weak price developments, according to the Housing Industry Association (HIA).
Spending continues to gain ground
Economy-wide spending has posted its six consecutive month of growth, rising by a total of 0.4 per cent this February according to the Common Wealth Bank’s Business Sales Indicator (BSI).
ASIC downplays HFT risk
The Australian Securities and Investments Commission has released a report into the impact of dark liquidity and high-frequency trading (HFT) on Australian financial markets, concluding that concerns tend to be overstated and disproportionate to the risk posed by the practices.
Housing finance figures lacklustre
New data released by the Australian Bureau of Statistics (ABS) paints an austere picture of the housing finance market, showing that improved consumer confidence isn’t necessarily translating into a resurgent housing market.
ABS releases upbeat job figures
Australia's seasonally adjusted unemployment rate remained steady at 5.4 per cent in February, as announced by the Australian Bureau of Statistics (ABS).
Fixed home loan demand on the rise
Despite the continuing fall of variable home loan rates, demand for fixed home loan has continued to grow.
Managed funds hits $2 trillion
The value of the country’s funds under management has hit $2 trillion for the first time, according to data released by the Australian Bureau of Statistics.
NAB announces tech investment and executive shuffle
The National Australia Bank has announced a substantial technology and strategy update, outlining key changes to its organisational structure, operating model and executive suite.
QBE quits SA building insurance
QBE Insurance has advised the South Australian Government that it will be withdrawing from the Building Indemnity Insurance (BII) market from the beginning of July.
Super fund contribution up in 2012
The Financial Services Council (FSC) has tracked a significant rebound in the amount of contributions made to APRA regulated superannuation funds in the December 2012 quarter.
Business confidence slips
Business confidence and conditions have both edged down in February, with a high Aussie dollar and weak performance of non-mining demand weighing heavily on most sectors.
Consumer confidence continues rally
Consumer confidence has continued to build on previous gains, posting a 2.0 per cent increase in March from 108.3 in February to 110.5 per cent in March in the Westpac Melbourne Institute Index of Consumer Sentiment.