Archived News for Finance Sector Professionals
Excessive and overly complex regulation is crippling productivity at a national and industry level, according to a survey report prepared by the Australian Financial Services Council-DST Global Solutions.
Climate change asset report released
The Asset Owners Disclosure Project (AODP) has released the first ever global change investment index, showing how the world’s biggest investors are managing climate risk.
Veda warns against 'debt regret'
Consumer and commercial data intelligence specialists Veda has warned issued a public warning against an over-reliance on credit in this upcoming Christmas season.
Australians to spend big this Christmas
Australians are set to spend in excess of $16 billion this festive season, on everything from vacations to the traditional Boxing Day sales.
Commbank announces sweeping tech changes
The Commonwealth Bank has announced a suite of upgrades to its online technology services, with the bank launching its flagship Kaching service on Facebook and a complete redesign of the service for the Android platform.
Unemployment drops
Australia's seasonally adjusted unemployment rate decreased 0.1 percentage point to 5.2 per cent in November, as announced by the Australian Bureau of Statistics (ABS).
Australia joins G20 'troika'
Australia has taken its place at the G20 ‘troika’, joining Mexico and Russia on the group of past, present and future chairs that manages the G20.
National Accounts shows growth to trend
Treasury has released the country’s National Accounts for the September Quarter, showing the despite the impacts of the jittery global economy, economic growth is predicted at 3.1 per cent.
Panel releases final GST review
The Federal Government has welcomed the final report of the independent GST Distribution Review.
RBA cuts rate
The Reserve Bank of Australia (RBA) has cut the country's official cash rate to its lowest point since the depths of the global financial crisis in 2008. Governor Glenn Stevens announced the 25 per cent cut last Tuesday, bringing the rate to 3.0 per cent.
Government calls for SBRs for financial reports
The Federal Government has released a discussion paper covering the possible options for the use of Standard Business Reporting for the lodgment of financial reports with the Australian Securities and Investments Commission.
Business confidence inching up finds report
Small and Medium Enterprises (SMEs) have enjoyed an increase in overall confidence, offsetting previous downturns this year, according to the new Sensis Business Index survey.
AFP cracks largest credit card fraud ring
A joint international criminal investigation has culminated in the arrest of seven people in Romania for the largest credit card data theft in the county’s history.
Government pledges increase access to financial advice
The Federal Government has introduced draft regulations of legislation that will seek to expand access to financial advice and better investor production.
Dyson named Chair of tax board
The Federal Government has announced the appointment of Teresa Dyson as the Chair of the Board of Taxation.
Global recovery on a jittery course finds OECD
The global economy is expected to make a ‘hesitant and uneven’ recovery over the coming two years, with decisive action needed by both the US and European economies if recession is to be avoided, according to OECD’s latest Economic Outlook.
Resources investment continues to boom
Australia is sinking record quantities of cash into resources and energy projects, with the latest data showing that a record $268.4 billion has been spent on the sector this year alone, according to the Bureau of Resources and Energy Economics (BREE).
Housing affordability on the increase finds report
Housing affordability has continued to trend upwards in the September quarter, according to the latest HIA-BA Housing Affordability Index.
Future Fund acquires AIX portfolio
The Future Fund has confirmed it has entered into a binding Implementation Agreement with the Australian Infrastructure Fund (AIX) that will see the nation’s sovereign wealth fund acquire all of the AIX’s portfolio assets.
Government passes super reforms
The Federal Government has passed a series of Bills that aim to deliver a wide range of improvements to superannuation law. The reforms include capital gains tax relief and measures that implement the Government's Stronger Super commitments.
World Bank releases dire climate warning
The World Bank has released findings that show the planet is on course for a 4 degree increase in temperature by 2100 unless immediate and decisive action is taken.