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Frydenberg unveils Retirement Income Review

KARREN VERGARA  |  FRIDAY, 20 NOV 2020
... to Australians. Frydenberg stopped short of confirming that the legislated superannuation guarantee (SG) will not go ahead next year, citing that "we are living in a different economic environment" thanks to the global pandemic. "We will consider this ...

Court rules insurers to cover COVID-19

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
... to the High Court of Australia," the council said. QBE responded to the ruling in a release to the ASX. It estimated the next cost of any business interruption claims in Australia is likely to be limited to $5 million per occurrence. "The ICA has already ...

Fidante signs on new partner

KANIKA SOOD  |  WEDNESDAY, 18 NOV 2020
... sustainability." Protera Asia managing partner Tai Lin said Asia is forecasted to double its total spend on food over the next decade from around $5.5 trillion in 2020 to about $10 trillion by 2030. "Teaming up with Fidante is a very positive business ...

NSW budget boosts TCorp loans

KARREN VERGARA  |  WEDNESDAY, 18 NOV 2020
... reform, TCorp said. NSW Treasurer Dominic Perrottet presented the state budget on November 17, pledging $107 billion over the next four years to build the state's infrastructure. Over a five-year period, the government promised $29 billion toward a COVID-19 ...

Shipton's tax bill under scrutiny

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 NOV 2020
... Liberal MP Jason Falinski asked about the legal advice ASIC sought in the year between the ANAO first raising the issue and next raising the issue. He wondered whether the legal advice would have informed ASIC that there was wrongdoing. Hehir said this ...

COVID-19 to remain dominant in 2021

ELIZA BAVIN  |  WEDNESDAY, 18 NOV 2020
... even more essential." JPMAM said, most critically, it expects fiscal intervention will remain a policy tool well into the next cycle. "The alignment of monetary and fiscal policy in the same supportive direction is perhaps the biggest single difference ...

Chief economist update: Vaccine optimism sparks AUD resurgence

BENJAMIN ONG  |  WEDNESDAY, 18 NOV 2020
... certainly possible that the economy will do better than this baseline scenario." "That baseline scenario is GDP growth of "5% next year and 4% over 2022...the unemployment rate "to rise further over coming months to a little below 8%" before gradually ...

AMP Capital shutters Aussie equities fund

KANIKA SOOD  |  MONDAY, 16 NOV 2020
... severed ties with the group in the last six months. AMP Capital's ESG team AMP Capital will build a new ESG team over next 12-18 months, whose remit will include Aussie equities, global equities and fixed income. It will look to appoint a head of ...

Fintech to take on super with new hire

ELIZA BAVIN  |  MONDAY, 16 NOV 2020
... Superfund Partners and general manager of Superfund Wholesale. Most recently, he had been building a new SMSF offering for the next generation of Australian investors. He will now join Stake to build that offering under its master brand. "Self-managed ...

Club Plus announces insurance changes

ELIZABETH MCARTHUR  |  MONDAY, 16 NOV 2020
... cover, from 81 cents to 67 cents for TPD cover and from $2.76 to $2.37 a week for death and TPD. Those between 46 and 55 will next year pay $2.06 a week for combined death and TPD, down from $2.42. "The events of the past year have placed great strain ...