Archived News for Finance Sector Professionals - June, 2013
The European Union has settled on a massive figure in its 27-country budget, which lasts from now until 2020.
Pay bump deserved in WA public service
Western Australia’s politicians, senior public servants and judges have earned a raise, according to the Salaries and Allowances Tribunal.
ASIC tells Suncorp: 'Pay it back'
Suncorp may refund around $23 million to its customers following an investigation by the Australian Securities and Investments Commission.
CEO alights from JBWere, now firmly controlled by NAB
The CEO of JBWere will soon jump ship, after 19 years for the Australian stockbroking firm.
Elders appoints new Chair
Embattled rural services group Elders Ltd has appointed a new CEO in the effort to shore up the company after the departure of John Ballard.
Global markets favour Australian lenders
A dip in the Australian dollar could turn out well for the big four banks.
Mixed blessings for Australia's new Treasurer
Following one of the wildest 24 hour periods in recent political history, the dust has settled and left Chris Bowen as the nation’s new Treasurer.
Phone banking takes off, logins double in a year
Mobile banking has well and truly taken off in Australia, with figures showing a 280 per cent increase in use over the last twelve months.
Big Bank execs. focus on e-banking future
The finance market is evolving at a rapid pace and banks must look toward future innovation to stay relevant, says Ubank General Manager Alex Twigg.
Business banking fees up, money saved at home
Banks’ income from businesses is up again, rising for the fourth consecutive year, but it seems money’s being saved on the domestic end with income from fees at home dropping for three years straight.
Financial Services Council lashes out at Tax Agents Services Act
The Tax Agents Services Act will “create havoc” for financial advisors in Australia, according to the Financial Services Council.
Industry white paper on preventative insurance released
Insurance industry players are calling for a new standard, to create a uniform policy for managing insurance in natural disasters.
MoneySmart finance tools take young people from rookie to expert
The Australian Securities and Investments Commission has launched a new financial education program specifically for young people aged 16 to 25. The MoneySmart Rookie initiative will sit alongside the existing MoneySmart program, offering financial literacy tools that are easy to understand.
New fund allows investors to keep money onshore
Institutional investors in Australia can now venture lower on the credit spectrum, with a new fund allowing managers to invest in a portfolio of institutional or corporate loans with credit ratings from A to BB.
Top executive leaves UBS Wealth with honeymoon barely over
Australia’s head of investments for UBS Wealth Management has left his new job, heading back Hong Kong after just six months at the post.
Intrepid Mines board survives coup over lost Indonesia mine
A Hong Kong private equity group tried but failed to take over the board of the troubled resources company Intrepid Mines, as it tries to reclaim its 80 percent interest in a major Indonesian project.
Japanese Firms Buy Stakes In WA Mine
Mining and petroleum giant BHP Billiton has sold a 15 percent stake in the Jimblebar mine in West Australia to two Japanese conglomerates.
Tinkler Cashes In Most Significant Remaining Asset
Embattled former coal baron and ex-billionaire Nathan Tinkler has sold his 19.4 percent stake in Whitehaven Coal for $2.96 per share.
Watching The Glass Ceiling Disappear
A “Glass Ceiling” is described as “the unseen, yet unbreakable barrier that keeps women from rising to the upper rungs of the corporate ladder, regardless of their qualifications or achievements.” But now the walls will be transparent, too, so Australians can witness how workplaces are integrating women into upper management.
US Unit Prevents Lehman From Paying Debts to Oz
Lehman Brothers Holdings in America is blocking Lehman’s Australian unit from paying its creditors including Local governments, churches and charities as much as $225 Million.
ASX kicks off $553 million entitlement offer
The Australian Securities Exchange has announced it will conduct a fully underwritten 2 for 19 pro rata entitlement offer of new ASX shares in a bid to raise an estimated $553 million at a price of $30 per share.