Archived News for Finance Sector Professionals
Credit rating agency Standard & Poor’s has confirmed that Victoria will maintain its triple-A rating.
State Treasurer Kim Wells welcomed the confirmation, saying that it is a strong vote of confidence for the government’s management of the economy.
"Standard & Poor's analysis has also recognised the economic strength of Victoria's resilient and diversified economy relative to other Australian states.” Mr Wells said.
Ex-NAB executive joins BOM's ranks
Former NAB executive Jonathan Ayres has been enlisted by emergent Bank of Melbourne (BOM) to accelerate the company’s growth.
RBA lowers cash rate
The Reserve Bank of Australia (RBA) has announced its decision to lower the official cash rate by 25 basis points, bringing the rate to 4.5 per cent.
ANZ posts bumper profits
ANZ has announced a statutory profit of $5.36 billion for the 2010-11 financial year, up 19 per cent from the previous year.
Chi-X opens for trading
The ASX’s longstanding monopoly over the country’s securities sector has come to an end with the launch of Chi-X’s Australian trading arm.
MRRT goes before parliament
The Federal Government has introduced the controversial minerals resource rent tax (MRRT) legislation, comprising ten bills, before parliament despite still not having the numbers to get it passed in the lower house.
Government announces major super reform
The Federal Government has introduced legislation before parliament that, if passed, will see the superannuation rate boosted by 3 per cent,
Victoria begins overhaul of funds management
The Victorian Government has announced an initial package of reforms of the government's strategic overhaul of the Victorian Funds Management Corporation (VFMC) to refocus the VFMC business strategy, and improve governance and oversight, as well as operational reforms to ensure VFMC delivers optimal performance for Victoria.
ACSI publishes anti-corruption review
The Australian Council of Superannuation Investors has published its Anti-corruption and Bribery Practices in Corporate Australia: A review of the S&P/ASX200 research paper, investigating the risk of bribery in Australia's top 200 listed companies.
ASIC outlines future agenda
ASIC chairman Greg Medcraft has outlined the future agenda of the Commission, saying that he plans for ASIC to move beyond being a compliance organisation into an intitution that promotes education and other initiatives, such as teaching of financial literacy topics in schools.
CPI growth drops
The Consumer Price Index (CPI) growth has petered off according to latest figures released by the Australian Bureau of Statistics (ABS)
Bendigo and Adelaide Bank launches securitisation program
Bendigo and Adelaide Bank has launched its latest securitisation program that will see the company issue securities with an estimated value of $500 million.
Commsec publishes State of the States
Commsec has published its quarterly State of the States report into the financial health of each of Australia’s states and territories. The report highlights eight key indicators: economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.
McKibbin urges bipartisan support for tax
Former Reserve Bank board member Professor Warwick McKibbin has called for the Federal Opposition to withdraw its pledge to scrap the Federal Government’s carbon tax, saying they should concentrate on repairing the scheme.
Shareholders knock back GUD remuneration
Shareholders of GUD have knocked back the company’s annual remuneration report, with 45 per cent voting against the packages proposed by the company’s board.
Consortium urges climate change investment
A consortium of climate change investment groups have called for long-term climate change and clean energy policies to allow for significant opportunity growth in clean and renewable energy technology and energy efficiency.
New commissioners announced for ASIC
The Australian Securities and Investments Commission (ASIC) has announced the appointments of Peter Kell and Greg Tanzer as full-time Commissioners.
Deloitte releases Asia Pacific Economic Outlook
Deloitte has published its Asia Pacific Economic Outlook report, finding that Australia’s economic recovery is slower than anticipated.
IFM campaigns for infrastructure investment
Superannuation group Industry Funds Management (IFM) has launched a national advertising campaign aimed at showcasing the commitment of the superannuation industry towards nation building infrastructure projects.
Carbon tax passes House of Reps
The Federal Government’s suite of carbon trading legislation has passed in the House of Representatives following weeks of intensive parliamentary debate.
Government announces membership and terms for business tax group
The Federal Government has announced the terms of reference and appointments to the Business Tax Working Group that is charged with conducting an inquiry into how the tax system can best assist businesses respond to a changing economy.