Archived News for Finance Sector Professionals - February, 2013
The Future Fund Board of Guardians have announced its decision to de-invest from primary producers of tobacco producers from its investment portfolio.
NAB announces China agreement
The NAB has announced the signing of a Memorandum of Understanding (MoU) with the China Development Bank (CDB) that will allow for greater collaboration between the two companies.
New CFO for Rio
London-based mining giant Rio Tinto has announced the appointment of Chris Lynch as the company’s new Chief Financial Officer, replacing outgoing CFO Guy Elliot in mid-April this year.
Experian launches Australian bureau
Global information services giant Experian has launched its first consumer credit bureau in Australia, providing credit reports to financial institutions, telecommunication and utility providers.
Government launches large company tax consultation
The Federal Government has released a consultation paper on the three-year process to reforming the timing of company tax payments by large companies.
Government to streamline financial services advice
The Federal Government has announced plans to enable accountants to offer a wide range of services through regulations to replace the accountant’s licensing exemption with a limited Australian Financial Services Licence (AFSL).
QBE to offshore 700 positions
Financial services group QBE has announced it will be offshoring up to 700 jobs to its Philippines based Group shared Services Centre.
New head of Horizons for AMP
AMP has announced the appointment of Amelia Contstantinidis as Director of Horizons, with responsibility for developing strategic plans and frameworks for advice for planner services across multiple licences.
RBA lends support for fast payments solution
The Payments System Board of the Reserve Bank has welcomed a proposal by an industry led committee to introduce a ‘fast payments’ solution for Australian consumers.
Spending on the increase finds CBA
Despite a generally gloomy global economic outlook, Australians have kept spending with a vengeance, according to the latest figures released by the Commonwealth Bank.
$378 million boost for venture capital
The Federal Government has announced it will invest $378.6 million in Venture Australia in a bid to grow new Australian knowledge based companies, high-skilled jobs and promote competitive products and services.
Banking reform a key issue for voters
Abacus Australian Mutual has upped the push for banking sector reform after launching the Balance Banking campaign, backed by a study that shows that banking reform is a major issue for Australian voters.
Home lending hits lacklustre end to 2012
New home lending rates recorded a lacklustre end to 2012, according to the latest aBS Housing Finance statistics.
New Chief Risk Officer for ANZ
ANZ has announced the appointment of Jennifer Evans as the company's new Chief Risk Officer Australia, reporting directly to Chief Risk Officer Nigel Williams.
Westpac leading the business bunch
Westpac has emerged as the clear leader of the big four in the satisfaction rating of business customers in January, according to the latest Roy Morgan Business Single Source survey.
Credit demand easing
Consumer and commercial intelligence agency Veda has released its report into credit trends in Australia in the last quarter of 2012, concluding that business credit demand had fallen across all states, while business loan enquiries had rallied with a strong 8 per cent year-on-year growth.
RBA sells Securency stake
The Reserve Bank of Australia (RBA) has announced it will sell its 50 per cent shareholding in Securency, the firm which allegedly bribed foreign officials in a bid to secure note-printing contracts.
Consumer sentiment booming
Consumer sentiment rose 7.7 per cent in February from 100.6 to 108.3, according to the latest Westpac-Melbourne Institute index of Consumer Sentiment.
Business confidence records upswing
Business confidence in Australia has held onto its gains from December, with reduced global fears giving the economy a much needed respite from lagging major industries and weak orders.
Housing prices on the rise
Seven of the country’s eight capital cities recorded a bump in housing prices for the December quarter, according to the latest figures released by the Australian Bureau of Statistics.
Private health premiums to increase by 5.6 per cent
Private health insurance premiums are set to increase by an average of 5.6 per cent from April, according to the latest figures released by the Federal Government.