Archived News for Finance Sector Professionals - October, 2015
ANZ says that despite the “constrained environment” it operates in, it managed to achieve a $7.2 billion profit.
ASIC sees FOFA response forming
ASIC says it has observed some positive progress in the wake of Future of Financial Advice (FOFA) reforms and new fee disclosure statement rules.
Expert warns UK model would hurt local insurers
Analysts say that if ASIC follows the lead of its UK counterpart, Australia's major life insurers could be faced with a remediation bill of over $1 billion over 10 years.
Industry slams super switch
Industry Super Australia chief executive David Whiteley says “there is no room for ideology in superannuation policy”.
More scientists swing against old coal
The Australian Academy of Science has become the latest major institution to offload its fossil fuel investments.
BHP won't let downturn damage its view
The chairman of BHP Billiton says the company remains “robust and resilient”, despite taking a battering in recent months.
Chevron shells out for dodgy tax deal
Profit shifting has led to big costs for Chevron, with the Supreme Court ruling it must pay $322 million to catch up on its tax-dodging.
Steel giant propped up by pay deal
BlueScope Steel will continue with steelmaking operations at Port Kembla in the New South Wales Illawarra region, saving thousands of local jobs.
Big banks take more to cover new rules
Everyone is waiting on ANZ - after CBA and NAB announced rates changes on Friday.
ChAFTA bill moves ahead
A bill to enact the China-Australia Free Trade Agreement is making its way through Parliament.
Foxtel free to take Ten
The ACCC has no big issues with Foxtel’s plan to buy a large chunk of Network Ten.
Pokie exploitation could face court
Law firm Maurice Blackburn says it may launch legal action against poker machines, arguing that they breach consumer law.
Santos rejects big bid
Fossil fuel giant Santos has rejected a $7.1 billion takeover offer from an elite syndicate of Middle East and Asian ruling families.
Australians see unfriendly future
New research suggests Australians foresee a future where their society is more skilled, but less friendly and moral.
New Family Benefits bill seeks to hurt less
The Federal Government is introducing a reduced set of Family Tax Benefit cuts to those proposed in the 2014 budget.
Private sector seeks SA water sale
An industry lobby says selling-off SA Water would raise up to $13 billion for the struggling South Australian economy.
Analysts see bank moves hitting housing
There has been plenty of bad press about Westpac’s sudden rate hike this week, but Morgan Stanley analysts say it could reach even further than most already fear.
Banks taking bitcoin tips
National Australia Bank and Commonwealth Bank of Australia are joining a group of 20 global banks in a trial of “distributed ledger” technologies, which use the same “blockchain” approach that underpins bitcoin transactions.
Government charging ahead to take choices
The Federal Government has been accused of storming ahead on plans to impose strict restrictions on Indigenous welfare recipients, by way of a cashless welfare card.
Dell's bold cloud bid costs big
Computer giant Dell is looking to buy data storage company EMC Corp for a mind-bending $US67 billion.
Good workers missed in quest for brainy ones
Intelligence tests have become a common tool for employers and recruiters, but research suggests they may be missing the point.