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Showing 1481 - 1490 of 6454 results for "Fed"

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
Westpac said it expects $80 million in additional expenses in FY20 as parts of its response plan in relation to the AUSTRAC scandal. The bank provided a company update to the ASX, in which it outlined its progress on its response plan for the AUSTRAC ...

Franklin Templeton to acquire Legg Mason

JAMIE WILLIAMSON  |  WEDNESDAY, 19 FEB 2020
Franklin Resources, trading as Franklin Templeton, has entered into a $6.7 billion agreement to acquire Legg Mason, creating a $2.24 trillion investment powerhouse. Under the agreement, which was unanimously approved by both boards, Franklin Templeton ...

Analyst views on ESG swing

ELIZABETH MCARTHUR  |  MONDAY, 17 FEB 2020
The Fidelity International Analyst Survey has revealed surprising sentiment around ESG, with 90% of analysts reporting some or all the companies they cover are focussed on ESG. In 2019, 31% of analysts surveyed said most companies they cover were stepping ...

CalPERS investment lead targeted by Congressman

HARRISON WORLEY  |  FRIDAY, 14 FEB 2020
A US congressman has called for the chief investment officer of America's largest pension fund to be fired. In a series of tweets and interviews, Indiana Congressman Jim Banks has urged for the sacking of CalPERS chief investment officer Yu Ben Meng ...

HESTA hikes default insurance cover

KANIKA SOOD  |  THURSDAY, 13 FEB 2020
The $55 billion industry fund is hiking the cost of its standard insurance cover for most of its members, with those aged 55 to 64 years to be the worst hit. HESTA's standard insurance cover -- which eligible members automatically receive upon signing ...

QSuper member drags board to court, loses

KANIKA SOOD  |  WEDNESDAY, 12 FEB 2020
A member dragged the $113 billion QSuper's board to court over treatment of an insurance claim but had the appeal thrown out. Queensland resident Daniel Chapman went to the Federal Court wanting QSuper to pay him a greater interest on a delayed ...

AMP faces fresh class action

ALLY SELBY  |  WEDNESDAY, 12 FEB 2020
AMP is facing a fresh class action, as Shine Lawyers confirms it is investigating whether the firm's financial advisers breached their fiduciary and statutory duties to an estimated 100,000 clients. Shine Lawyers alleges the beleaguered firm failed ...

Chief economist update: It's the US consumer, stupid me

BENJAMIN ONG  |  WEDNESDAY, 12 FEB 2020
... among those pencilling in a recession when the US yield curve inverted around the middle of last year and believed that the Fed would need to cut interest rates by at least another 25 bps, in addition to the ones it announced in July, September and October ...

Surplus may not be as advertised: Grattan

ELIZABETH MCARTHUR  |  MONDAY, 10 FEB 2020
Speaking at the Financial Standard Chief Economist Forum, Grattan Institute budget policy and institutional reform program director Danielle Wood explained the much touted federal government surplus may not be all it was cracked up to be. Wood focused ...

ISA demands pull Combet from ME Bank

HARRISON WORLEY  |  MONDAY, 10 FEB 2020
Former politician Greg Combet has retired from the board of ME Bank, as his commitments to industry super heat up. Combet is departing the industry fund-owned bank after five years on the board, which commenced in November 2014. The former Labor minister ...