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Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... It's been 12 months since the financial services sector was hit with Commissioner Kenneth Hayne's final report. And while the big banks appeared to be early casualties, it's hard to refute that the financial advice industry has suffered most. According ...

Asia is way forward for global economy: DWS

ELIZA BAVIN  |  WEDNESDAY, 5 FEB 2020
The doom and gloom in the global economy is starting to see the rays of light shine through in 2020 for Asia in particular, according to DWS chief investment officer, APAC Sean Taylor. Speaking to Financial Standard ahead of the Chief Economist Forum ...

Chief economist update: Coronavirus infects oil market

BENJAMIN ONG  |  TUESDAY, 4 FEB 2020
It appears that no one and nothing is immune from the spread of the coronavirus. It's now turned the bull market in crude oil into a bear. Crude oil prices sank by more than 10% (the technical definition of a bear market) - WTI oil down 15.6%; Brent ...

Industry split over super fee hike

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  TUESDAY, 4 FEB 2020
A new fee introduced by Australia's largest superannuation fund has divided the industry, with many questioning its legitimacy. Earlier this month AustralianSuper notified members it would be introducing a new fee called 'Administration fee ...

Argo Investments' profit plunges

ALLY SELBY  |  MONDAY, 3 FEB 2020
Listed investment company Argo Investments' profit has taken a dive, falling 24.4% from the previous period. Yet Argo has maintained its half-year dividend at 16 cents per share fully franked. The company announced a half-year profit of $118.8 million ...

Chief economist update:China prepares anti-viral injection

BENJAMIN ONG  |  MONDAY, 3 FEB 2020
... epidemic lasts longer than expected... 2020 growth could slow to 5 per cent." Not surprisingly, markets are bracing for a big fall in China's stock market when it opens today. But the People's Bank of China (PBOC) is on top of this. Reuters reports ...

AMP urged to mediate with advisers

ELIZA BAVIN  |  FRIDAY, 31 JAN 2020
... Carnell said it is crucial that the advisers are given clear information about their financial position before making any big decisions about their future and that mediation can pave the way to providing that clarity. "We've called on AMP to waive debts ...

Sargon runs out of steam

KANIKA SOOD, JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2020
Philip Kingston's Sargon has been forced into external administration by one if its Chinese creditors. In a statement to Financial Standard, Sargon said one of its creditors, Chinese state-owned insurance company Taiping Trustees has appointed McGrathNicol ...

BlackRock appoints new chief operating officer

ELIZABETH MCARTHUR  |  THURSDAY, 30 JAN 2020
... appointing a head of public policy to navigate the shifting regulatory landscape in Australia. He said at the time: "We have a big team at BlackRock... We've just announced someone here to lead our public policy team in Australia and that will include ...

Uncertainty remains for global outlook: TCorp

ELIZA BAVIN  |  THURSDAY, 30 JAN 2020
... is that global economic growth is expected to be stronger in 2020, TCorp believes it will only be modest. "There are some big things on the horizon which could hamper growth - the progress of the Phase 2 US-China trade deal, the Brexit Withdrawal Agreement ...