Archived News for Finance Sector Professionals
The latest ABS figures show that in seasonally adjusted, current price terms, the current account deficit fell $370m (2 per cent) to $14,678m in the December quarter 2012. Exports of goods and services rose $734m (1 per cent) and imports of goods and services rose $897m (1 per cent). The primary income deficit fell $518m (6 per cent).
GDP hits 3.1 per cent target
Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted volume terms, grew 0.6 per cent in the December quarter 2012.
Retail up by 0.9 per cent
The latest ABS Retail Trade figures show that Australian retail turnover rose 0.9 per cent in January 2013, seasonally adjusted, following a fall of 0.4 per cent in December 2012.
Dwelling approves remains weak finds ABS
ABS Building Approvals show that the number of dwellings approved fell 2.4 per cent in January 2013, in seasonally adjusted terms, and has fallen for two months.
Inflation remains flat
Inflation levels have remained relatively flat in February, according to the TD Securities – Melbourne Institute Monthly Inflation Gauge.
Job ads stabalise
The job ad market is showing tentative signs of life, according to the latest monthly statistics released by the ANZ bank.
Rinehart's fortunes grow
Gina Rinehart, Australia’s richest citizen, is now the richest woman in the Asia-Pacific region, and is well on her way to becoming the richest woman in the world according to Forbes Magazine.
Future Fund backs away from tobacco
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.