Archived News for Finance Sector Professionals
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.
Online retailers dodge doldrums
Online retailers have dodged the traditionally lacklustre January post to post a 27 per cent annual growth to $13 billion for the 12 months to January 2013.
CommBank promises consumer insights
The Commonwealth Bank has announced it will draw on the country’s largest pool of information on consumer spending patterns to with the launch of its new consumer insights platform.
CAD drops finds ABS
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.