Archived News for Finance Sector Professionals - June, 2015
An odd coupling of business, union, environmental, investor and welfare groups has come together to push for action on climate change.
Hockey makes big deposit in new China bank
Treasurer Joe Hockey says Australia is lining up to become a founding member of the Asian Infrastructure Investment Bank (AIIB).
Insurance plan to dodge Government reform
Authorities are warning that life insurance changes will cost financial planners as much as $250 million a year in lost fees and commissions.
Super raid aimed at unions
The Federal Government has unveiled draft legislation to shake up corporate governance at superannuation funds.
TPP still coming, still criticised
There are strong signs that the Federal Government will soon commit to the controversial 12-nation Trans-Pacific Partnership, despite concerns it could be signing away its freedom.
Analysts take dim view of iron future
Analysts at both ANZ and Goldman Sachs say the price of iron ore will drop by at least $US10 per tonne before the end of the year.
Rio boss says iron will stay strong for some
Rio Tinto’s iron ore boss Andrew Harding says the commodity will stay strong, but high-cost producers will not last long in the current market.
Worley named as potential SNC buyer
Australia’s Worley Parsons could be lining up to buy a Canadian engineering giant, despite it facing legal action over alleged bribery and corruption.
Robot workers put jobs at risk
A new report says technology will make 5 million Australians redundant in the next 15 years.
Big moves and bad plays bring grocery downgrade
Analysts have unleashed savage downgrades on their views of Woolworths’ stock, following the departure of chief executive Grant O'Brien and the sacking of 1,200 workers.
Cash Converters agree to partial pay-back
Two class action lawsuits against Cash Converters have been settled out of court, which will see partial refunds of thousands of customers who were charged up to 633 per cent interest on loans.
Credit cards help banks hit $12 billion in fees
Reserve Bank figures show Australian banks pulled in $12 billion in fees in 2014, with credit cards bringing the strongest growth.
KPMG says BBY was broke even earlier
KPMG, administrator of collapsed broking firm BBY, says a great deal more money is missing from client accounts.
Unions fear free trade undercut
The Federal Government is celebrating its newly-sealed China-Australia Free Trade Agreement (FTA), but unions and industry groups fear the deal will put jobs at risk.
Big business joins Black Dog to boost rural service
A major rural employer has partnered with the Black Dog Institute to bring better mental health services to remote parts of WA.
Income gap hurts GDP, IMF says
The gap between rich and poor in advanced economies is now at its highest level in decades.
TPP slows, but PBS threat remains
The Australian Government will not be able to join the Trans-Pacific Partnership as quickly as it hoped, with the United States Congress voting to slow down the negotiations.
ACCC wants iiNet's service to stay
The ACCC has heard concerns about internet company TPG’s proposed takeover of iiNet.
Clouds spotted in big players' future
Global credit ratings agency Fitch has handed negative ratings outlooks to BHP Billiton, Rio Tinto and Anglo American.
Roy Hill digs into social improvement
Gina Rinehart's company Roy Hill is funding a charity to provide training, education and cultural benefits in Western Australia's Pilbara region.