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Showing 211 - 220 of 732 results for "coronavirus"

ERS applications slow

ELIZA BAVIN  |  MONDAY, 24 AUG 2020
Over $31.6 billion has been removed from superannuation since the start of the Early Release of Superannuation (ERS) scheme, but applications appear to be slowing down. In the week to August 16, around $600 million was paid out to members, down from ...

Chief economist update: Gone fishing

BENJAMIN ONG  |  MONDAY, 24 AUG 2020
... Initiative, HomeBuilder initiative - "and you feed him for a day" (these schemes have limited the negative impact of the coronavirus pandemic on the domestic economy). Borrow to create jobs "and you feed him for a lifetime". "In going forward, the challenge ...

Suncorp wealth business down

ELIZA BAVIN  |  FRIDAY, 21 AUG 2020
Suncorp has reported an 8% drop in funds under administration for its wealth business, as it posted a 6.8% fall in ongoing operations for FY20 as a result of COVID-19. Suncorp has been battered by extreme weather events, high reinsurance costs and low ...

ATO implements JobKeeper changes

ELIZA BAVIN  |  THURSDAY, 20 AUG 2020
The Australian Taxation Office (ATO) has implemented changes to the JobKeeper employee eligibility rules following the government's announcement the scheme would be altered. The changes mean employers already enrolled in JobKeeper may be able to receive ...

Chief economist update: Worse news is better news

BENJAMIN ONG  |  THURSDAY, 20 AUG 2020
... risen by 4.5% this year to date and by 17.7% from a year ago. That is, buy orders are more now than they were pre the coronavirus pandemic and the negative impact it's having on the US and world economies. US GDP growth plunged at an annualised rate ...

S&P 500 rebounds from COVID-losses

ELIZA BAVIN  |  WEDNESDAY, 19 AUG 2020
The S&P 500 closed at a record high overnight, rebounding from the massive COVID-19-related losses that have rocked global markets. The index closed above its February high, marking the shortest bear market in history, surging around 55% since March ...

ANZ posts profit, announces dividend

ELIZA BAVIN  |  WEDNESDAY, 19 AUG 2020
ANZ has announced an unaudited statutory profit for the third quarter of $1.32 billion and an interim dividend of 25 cents per share, fully franked. The bank reported an unaudited cash profit from continuing operations of $1.5 billion, with chief executive ...

Alternative assets are the new bonds: JPMAM

ELIZA BAVIN  |  WEDNESDAY, 19 AUG 2020
Core alternative real estate assets are the new bonds, according to J.P. Morgan Asset Management, which said a well-diversified portfolio of core real assets can offer two-three times the income premium of traditional fixed income. Speaking at an online ...

Westpac ditches dividend

ELIZA BAVIN  |  TUESDAY, 18 AUG 2020
Westpac has become the first of the big four banks to not deliver a dividend in its first half results as it reported a net profit of $595 million and revealed it anticipates further enforcement action from ASIC. Westpac chief executive Peter King said ...

LNP halts push for SG rise

ELIZA BAVIN  |  MONDAY, 17 AUG 2020
The Prime Minister said he is very aware of issues with the legislated increase to the superannuation guarantee, saying things have changed since it was decided upon, while Senator Jane Hume said she is ambivalent on the issue. Speaking at a press conference ...