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Chief economist update: Labor Day mayday

BENJAMIN ONG  |  FRIDAY, 1 MAY 2020
It would have been funny had it not been for the gravity of the circumstances the planet has found itself in these days of the coronavirus pandemic. For right on the eve of "Labor Day", the US Department of Labor reports that more than 30 million Americans ...

Now is the time to step up: FEW

JAMIE WILLIAMSON  |  THURSDAY, 30 APR 2020
At a time when most are concerned about making career moves, those on the path to leadership are being told now's the perfect time to put themselves out there. That's according to Financial Executive Women executive director Alex Tullio, saying there ...

More super funds will merge: QMV

ELIZABETH MCARTHUR  |  THURSDAY, 30 APR 2020
... does have the ability to direct super funds to merge, and has implied that this could be the outcome for funds who fail to show efficiency on early release demand. The possibility that funds could be forced to merge, Forbes acknowledged, is less than ...

Is it really as bad as it seems?

ELIZA BAVIN  |  THURSDAY, 30 APR 2020
Pandemic, crisis, unprecedented; these are some of the terms that have been filling up our newsfeeds, but is this really such a big deal? Everyone has heard the phrase 'don't let the solution be worse than the cause' and many people think this is worth ...

Former Spectrum Wealth, NAB advisers banned

ELIZA BAVIN  |  THURSDAY, 30 APR 2020
ASIC has permanently banned an ACT financial adviser over dodgy SMSF advice, and banned another from NSW for three years for failing to consider clients' best interests. Jane Myers, an authorised representative of Spectrum Wealth between 2013 and 2017 ...

Best MySuper products revealed

ELIZABETH MCARTHUR  |  THURSDAY, 30 APR 2020
Rainmaker's latest MySuper benchmarking report has seen industry funds on top for market share and performance as at December end. For MySuper products with a single investment strategy (as opposed to lifecycle products) AustralianSuper was on top. ...

Chief economist update: No cheers as RBA hits inflation target

BENJAMIN ONG  |  THURSDAY, 30 APR 2020
Mission accomplished! This would have been the Reserve Bank of Australia's (RBA) self-congratulatory exclamation after the Australian Bureau of Statistics (ABS) reported that annual headline CPI inflation accelerated to 2.2% in the March quarter ...

ANZ profits halve, dividend deferred

JAMIE WILLIAMSON  |  THURSDAY, 30 APR 2020
... defers its interim dividend awaiting greater clarity of the impact COVID-19 will have. The big bank's half-year results show a statutory profit after tax of $1.55 billion, down 51% on the prior corresponding period. ANZ said credit impairment charges ...

Aussie equities winners, losers revealed

ALLY SELBY  |  WEDNESDAY, 29 APR 2020
Aussie passive and active equity strategies have been put to the test, with Morningstar assessing how the country's small and large-cap managers have fared during the highs of 2019 and the lows of 2020. The coronavirus crash has renewed debate on ...

Australians hate complexity, not annuities: Research

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 APR 2020
New research from Melbourne Business School Orford Initiative has found there is more demand for annuity products than the industry or government previously believed. However, that demand is being stifled by a lack of understanding among consumers on ...