Archived News for Finance Sector Professionals - September, 2012
Casual workers are significantly more likely to experience financial stress, struggle to save and experience difficulty renting or purchasing a property according to a new report released by ME Bank.
The Housing Industry Association (HIA) has challenged the recommendations from the Federal Government’s Business Tax Working Group (BTWG), accusing it of ‘missing the mark’ with its proposed changes to the country's business tax system.
The Commonwealth Bank has confirmed that consumer spending has significantly dropped in the September quarter, with the latest Business Sales Indicator showing a 0.4 per cent drop.
The Association of Superannuation Funds of Australia (ASFA) has urged the Federal Government to focus more on fixing the gaps in the system to ensure its ability to deliver adequate retirement income.
Westpac and international software solutions company SAP have announced a new partnership to develop the country’s first real-time payment solution for large companies and institutions.
Three Australian Councils have won a Federal Court challenge that ruled that Lehman Brothers Australia, now in liquidation, was liable for millions lost in complex financial derivatives investments, known as collatoralised debt obligations (CDOs).
Commonwealth Bank and the Australian Securities and Investments Commission (ASIC) have reached a resolution in relation to Storm Financial, the financial services firm that collapsed in 2008, costing investors an estimated $3 billion.
Australian tourists have lost a collective $360 million as a result from having travel documents, including receipts, passports and traveller’s cheques being stolen or misplaced.
The Australian Chamber of Commerce and Industry (ACCI) has published its Survey of Industrial Trends for the September quarter, revealing a strengthening of the key General Business Situation index.
Industry Super Network (ISN) has called for the Australian Securities and Investments Commission (ASIC) to implement a moratorium of high frequency trading (HFT), claiming that the practice is damaging to long-term investors, including super funds.
The Association of Superannuation Funds of Australia (ASFA) has released a discussion paper exploring the future for super funds of investing in transport infrastructure.
A snapshot of ASIC’s surveillance work has been published for the first time, as part of its commitment to improving transparency and increasing the public’s understanding of how ASIC operates.
The Minister for Financial Services and Superannuation, Bill Shorten, has released for public consultation a paper titled Strengthening APRA's Crisis Management Powers which seeks comments on a range of options to enhance Australia's financial sector, particularly prudential regulation.
AMP Financial Services has appointed Morningstar as its preferred partner for research consultancy services following a comprehensive review.