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Chief economist update: The tweet that reignited the trade war

BENJAMIN ONG  |  TUESDAY, 7 MAY 2019
... borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" the combined tweets read. As a result, volatility spiked. The CBOE VIX index jumped by as much as 46.1% before closing 20.0% higher on the day. ...

Chief economist update: Not spring yet in the Eurozone

BENJAMIN ONG  |  MONDAY, 6 MAY 2019
Green shoots are appearing in the Eurozone just in time for spring. Eurostat reports its preliminary estimates show the single-currency region's GDP increased by 0.4% in the March 2019 quarter - better than market expectations for a 0.3% gain - ...

AFCA hits the road

HARRISON WORLEY  |  FRIDAY, 3 MAY 2019
The Australian Financial Complaints Authority will travel Australia in an effort to learn from the community and increase awareness of its services. The dispute resolution body is set to embark on a national roadshow, visiting more than 70 regional ...

Chief economist update: Policy of patience

BENJAMIN ONG  |  THURSDAY, 2 MAY 2019
The US Federal Reserve just concluded its April 30 - May 1 FOMC meeting and decided it best to do nothing but reaffirm its policy of patience, as you, I and Irene expected. "Consistent with its statutory mandate, the Committee seeks to foster maximum ...

Future Fund crosses $150 billion

KANIKA SOOD  |  MONDAY, 29 APR 2019
The sovereign wealth fund has crossed $150 billion in assets after a strong quarter, as it readies to pitch in to the next Federal budget. The Future Fund returned 5% over the quarter to March end, taking its decade-long performance to 10.4% - 3.9% ...

Rush of advisers sign up before FASEA deadline

ELIZABETH MCARTHUR  |  FRIDAY, 26 APR 2019
... non-institutional financial advisers, bringing the total number of registered advisers to 27,211, Rainmaker's Advantage report read. Over the calendar year, the number of advisers from non-institutional owned licensees increased 38% while institutionally-aligned ...

Colonial First State makes major fee cuts

KANIKA SOOD  |  THURSDAY, 18 APR 2019
... players such as Netwealth and HUB24, and to Macquarie. HUB24 outstripped CFS in capturing net fund flows in September quarter. Read more about how CFS is building its platform business in the next print edition of Financial Standard, out April 22.

ANZ dismisses alleged job cuts

KARREN VERGARA  |  THURSDAY, 18 APR 2019
... the reduction in numbers written in the press are a result of the bank divesting its Asian retail businesses. The statement read: "While we don't have any specific reduction programs or targets for the group, we will continue to focus on improving ...

Chief economist update: China and the spring in its step

BENJAMIN ONG  |  THURSDAY, 18 APR 2019
... budding, the sun was almost bright." This quote from American screenwriter and novelist Millard Kaufman came to mind when I read about China's recent economic data dump in the first month of spring. China's GDP growth stabilised at 6.4% in the ...

ASIC targets misleading member communication

KARREN VERGARA  |  WEDNESDAY, 17 APR 2019
... we expect, despite time pressures, that trustees will communicate in a way that focuses on the interests of members," it read. The newly formed Superannuation Consumers' Centre has slammed super funds that are misleading members and warned it will ...