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Showing 1161 - 1170 of 6449 results for "Fed"

Chief economist update: No pandemic on Wall Street

BENJAMIN ONG  |  MONDAY, 11 JAN 2021
Pandemic? What pandemic? The S&P500 index the Dow Jones Industrial Average closed 2020 at record highs despite the US topping the list of countries with most total cases of coronavirus infections (21.3 million or roughly 25% of the world's total) ...

Super funds back COVID-19 preventative drug

KARREN VERGARA  |  THURSDAY, 7 JAN 2021
Four major superannuation funds are backing a biotech company that is developing a nasal spray that claims to prevent COVID-19 and the common cold. AustralianSuper, HESTA, Hostplus and Statewide Super have joined forces with CSL, a venture capital fund ...

ASIC takes fintech to court

KARREN VERGARA  |  WEDNESDAY, 6 JAN 2021
The corporate regulator has initiated action against a fintech for allegedly misleading customers about the benefits of investing in residential property in self-managed superannuation funds. Squirrel Superannuation Services, an SMSF platform provider ...

Prioritise underperformance over stapling: AIST

KARREN VERGARA  |  WEDNESDAY, 6 JAN 2021
The Australian Institute of Superannuation Trustees says the new Your Future, Your Super laws should prioritise underperformance ahead of stapling as existing members stuck in dud funds will be worse off. In its submission to the draft legislation ...

Class action launched against OnePath

ELIZA BAVIN  |  TUESDAY, 5 JAN 2021
Slater and Gordon have filed a class action against ANZ and its former subsidiaries OnePath Custodians and OnePath Life as part of its #GetYourSuperBack campaign. Filed in the Federal Court in December 2020, this makes the fifth class action launched ...

Challenger to buy industry-fund-owned bank

KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
Challenger will spend $35 million to buy Catholic Super's banking business, in a move that Bell Porter says could have more upside than suggested by the company this morning. Challenger and MyLife MyFinance have entered into an agreement with an expected ...

Jail time for tax adviser

ELIZABETH MCARTHUR  |  TUESDAY, 22 DEC 2020
The Federal Court has sentenced a tax adviser to seven and a half months in prison and fined him $640,000. Brisbane-based Kent Scott Hacker will spend Christmas behind bars after receiving the seven and a half months sentence. He, and his related companies ...

Missing Caddick's mansion on the line

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
The Federal Court has appointed receivers to the property of self-proclaimed but unlicensed financial adviser Melissa Caddick, who has been missing for a month. Following a successful ASIC application, the court appointed receivers to Caddick's property ...

Chief economist update: Government spending made money, saved money

BENJAMIN ONG  |  FRIDAY, 18 DEC 2020
The Morrison government has released its Mid-Year Economic Financial Outlook (MYEFO), proving the old saying 'You must spend money to make money' right. This quote, generally attributed to Roman playwright, poet and philosopher Titus Maccius ...

Chief economist update: Fed acts with inaction

BENJAMIN ONG  |  THURSDAY, 17 DEC 2020
... employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term," the Fed said. Fed officials appear to be leaning on the side of the vaccine. To be sure, recent indicators point to a slowing in the ...