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Finance workers worry about job displacement from AI, government urged to take action

KARREN VERGARA  |  WEDNESDAY, 12 FEB 2025
... displacement is expected to become more likely, in particular for disenfranchised and low-skilled workforces," the report read. "There are also concerns that AI and automated decision making (ADM) systems may affect people seeking entry-level roles. ...

Investment down as uncertainty rises

ELIZA BAVIN  |  FRIDAY, 7 FEB 2025
The outlook for business investment has deteriorated over the past year, according to the quarterly Investment Monitor report by Deloitte Access Economics. "The slowdown in the Australian economy has hit business revenues. This has particularly been ...

ASIC initiates ASX outage probe

JAMIE WILLIAMSON  |  MONDAY, 3 FEB 2025
... assign insufficient memory to handle the number of users in Batch Settlement for that day," the ASX's Incident Review report read. At the time, ASIC said it was "deeply disappointed by the incident and the impact it had on the market" and that the ASX ...

FOMC holds rates as Chalmers boasts 'our inflation is lower'

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
Treasurer Jim Chalmers has boasted about Labor's policies after the latest CPI reading from the Australian Bureau of Statistics (ABS) reported underlying inflation was now at its lowest point in three years. "Our headline inflation is now lower than ...

Minimum service standards for super funds welcomed

ELIZA BAVIN  |  WEDNESDAY, 29 JAN 2025
Treasurer Jim Chalmers and Assistant Treasurer Stephen Jones announced new mandatory minimum service standards for all large APRA-regulated superannuation funds. Chalmers said the reforms will improve member outcomes and how funds engage with their ...

Aussie billionaires make $67k per hour: Oxfam

KARREN VERGARA  |  WEDNESDAY, 22 JAN 2025
... Zuckerberg have more than US$200 billion respectively. Global billionaire wealth grew by $3 trillion in 2024, the report read. "The crown jewel of this oligarchy is a billionaire president, backed and bought by the world's richest man Elon Musk ...

Super admin providers face reckoning in 2025: Finura

KARREN VERGARA  |  MONDAY, 20 JAN 2025
... relationship. We all know it will take more than a few 'nudges' to get Australians to actually take action," the report read. "We expect the funds mentioned above who moved early to lead the way over the next five years. Launching B2C services ...

MA Financial readies first LIT for launch

MATTHEW WAI  |  MONDAY, 20 JAN 2025
MA Financial will soon launch its first listed investment trust (LIT), the MA Credit Income Trust (ASX:MA1). MA Financial has so far secured $171 million in commitments for MA1, which is expected to launch on the ASX on March 5. The fund is set to offer ...

Iress sells superannuation business

ELIZA BAVIN  |  MONDAY, 20 JAN 2025
Iress has entered into a binding agreement to sell its superannuation business to global financial services provider Apex Group. Iress said the decision to divest the superannuation business follows a strategic review as part of the company's transformation ...

Unemployment edges up despite jobs added

ELIZA BAVIN  |  THURSDAY, 16 JAN 2025
Australia's labour market has remained strong in the December 2024 read, according to the Australian Bureau of Statistics (ABS). The seasonally adjusted unemployment rate rose by 0.1 percentage point to 4% in December. "With employment rising by 56,000 ...