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Chief economist update: Steady as she goes

BENJAMIN ONG  |  FRIDAY, 14 SEP 2018
Yesterday's European Central Bank's (ECB) Governing Council meeting would have been a big ho-hum were it not for some minor, albeit significant, tweaks in the bank's outlook. As expected, the ECB left interest rates unchanged - the benchmark ...

TAL hired private investigator to follow claimant: Royal Commission

KANIKA SOOD  |  THURSDAY, 13 SEP 2018
... years, where the nurse had taken time off to deal with work and home-related stresses - however, these were discrete events and not an ongoing condition. Therefore, the note she was presenting now was for a new illness, the GP noted. On receiving the ...

Firetrail to launch $305m IPO

KANIKA SOOD  |  THURSDAY, 13 SEP 2018
... "IPO proxies". At the time, Henricks said the boutique expects to break even this year, contingent on IPO whose plans had not been finalised then. Now trending: LICs Firetrail's IPO follow a trend in the funds management industry to launch LICs as ...

Pension funds feel the heat on climate change

JAMIE WILLIAMSON  |  THURSDAY, 13 SEP 2018
... D-rating with recent legal action taken against it by a member, further demonstrating the potential risk to pension funds in not presenting a legitimate strategy for safeguarding retirement savings against climate change. The lowest of the Australian ...

New accounting standards put pressure on life insurers

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... force. "Given the significant investment holdings by insurers, which are subject to the new requirements of IFRS 9, it is not surprising that three-quarters of insurers globally have taken advantage of this deferral option," he said. The report warned ...

CommInsure misled FOS: Royal Commission

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... believe it was "relevant." Additionally, CMLA failed to be open and transparent in its dealing with FOS and as a result, did not comply with FOS' terms of reference or ASIC regulatory guide 139, which explains what's expected of parties involved ...

Former MLC executive joins Challenger

JAMIE WILLIAMSON  |  THURSDAY, 13 SEP 2018
... skills and perspectives of the board," he said. Challenger also announced that longstanding board director Graham Cubbin will not stand for re-election at the upcoming annual general meeting. He has served on the board since 2004. Polson thanked Cubbin ...

BTFG faces possible union action

JAMIE WILLIAMSON  |  WEDNESDAY, 12 SEP 2018
... roles where our clients need them most and no individual outcomes have yet been determined." "If in the event employees are not re-deployed into alternative roles, retrenchment entitlements will be provided in accordance with our employment obligations." ...

AMP, CBA respond to record class action bid

JAMIE WILLIAMSON  |  WEDNESDAY, 12 SEP 2018
... flagship MySuper products have also been cut. In a brief statement, CBA said it is aware of the potential class action but it had not been served with any legal proceedings and will keep the market informed of developments. CBA and AMP are the initial ...

Chief economist update: Confidence down, conditions up

BENJAMIN ONG  |  WEDNESDAY, 12 SEP 2018
... commodity prices. This could be a reflection of that other famous quote from Julius Caesar: "No one is brave enough that he is not disturbed by something unexpected." Business confidence should rebound in the coming months now that the leadership crisis ...