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Economic impact worst since WWII: Research

HARRISON WORLEY  |  THURSDAY, 9 APR 2020
The economic impact of the COVID-19 pandemic is the biggest shock to the Australian economy since World War II, according to Roy Morgan. New analysis from the research house confirms Australia is facing the biggest single hit to its economy and workforce ...

ClearView promotes resilience

HARRISON WORLEY  |  THURSDAY, 9 APR 2020
ClearView has moved to allay concerns over its future amid the COVID-19 pandemic, informing the market that its regulatory capital position "appears resilient" to a range of stress testing scenarios. ClearView is prepared to make a range of responses ...

Wall Street rally runs out of steam

ALLY SELBY  |  WEDNESDAY, 8 APR 2020
Wall Street's rally seems to have run out of steam, with the major indexes ending the day of trade in a sea of red. Early in trade the Dow Jones surged 900-points before closing down 0.12%. Similarly, the S&P 500 lost 0.16% and the Nasdaq Composite ...

COVID-19 to push life premiums up: Rice Warner

HARRISON WORLEY  |  WEDNESDAY, 8 APR 2020
Latest Rice Warner analysis shows the COVID-19 crisis is hitting an already suffering life insurance industry, hard. To survive, the industry will need to change. New analysis from research house Rice Warner reveals the life insurance sector will be ...

Perpetual executive jumps to Xplore

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
... has hired from Perpetual's executive team for its new head of product. Neil Gellett has been appointed to the role, after close to five years in the same position at Perpetual. Prior to Perpetual Gellett worked at BT Financial Group, holding a number ...

Chief economist update: COVID-infected Aussie stats trickle in

BENJAMIN ONG  |  WEDNESDAY, 8 APR 2020
Ho-hum. Financial markets widely expected the Reserve Bank of Australia's (RBA) decision to keep monetary policy settings unchanged at its April meeting especially so soon after announcing a comprehensive accommodation package the month before ...

NFP super fund performance revealed

JAMIE WILLIAMSON  |  TUESDAY, 7 APR 2020
While the ASX fell close to 30% in March, Rainmaker analysis shows the investments returns for 15 of Australia's leading not-for-profit superannuation funds weren't nearly as bad. Latest analysis from Rainmaker shows the average investment return for ...

Latest adviser exam results in

JAMIE WILLIAMSON  |  TUESDAY, 7 APR 2020
... now be conducted online. From April 14 candidates will be able to book the exam as a remote option, irrespective of how close they live to an exam centre. Alternatively, candidates can defer until August or a later date. Registrations for the October ...

Super funds face penalties over early release failures

ELIZABETH MCARTHUR  |  TUESDAY, 7 APR 2020
Treasurer Josh Frydenberg has confirmed superannuation funds that fail to appropriately handle early release during the COVID-19 crisis will face penalties. Asked by Financial Standard how the government would handle funds that might face liquidity ...

Chief economist update: Different contagion, same fiscal policy divide

BENJAMIN ONG  |  MONDAY, 6 APR 2020
G'day inmates! Yes, Virginia, we're practically all inmates now thanks to the coronavirus pandemic that has forced almost every other government to place their citizens under house arrest. Some flaunt these government restriction, others demand ...