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Unemployment already over 15%: Roy Morgan

KANIKA SOOD  |  MONDAY, 4 MAY 2020
... during May and June while others, including Victoria, have yet to announce any plan to do so prior to a review of conditions next week," Roy Morgan chief executive Michele Levine said. "The changed economic and employment landscape will start to normalise ...

Early release of super numbers revealed

ELIZABETH MCARTHUR  |  MONDAY, 4 MAY 2020
... finalise these applications as quickly as possible. We expect the overwhelming majority of these will be paid by the middle of next week," the Rest spokesperson said. Rest said it would usually receive about 100 applications for early release of super ...

ERS top of mind for advisers

ELIZA BAVIN  |  MONDAY, 4 MAY 2020
... frequently asked about by advisers during March and April, according to new figures from AMP's technical adviser support team. The next most asked about issue was minimum pension drawdowns as the government relaxed the rules and retirement balances were ...

Super funds release $1.3bn

ELIZA BAVIN  |  MONDAY, 4 MAY 2020
... as practicable," Rowell said. APRA said it intends to publish updated data every Monday, and will expand the publication next week to include fund-level data.

Westpac to review business units

JAMIE WILLIAMSON  |  MONDAY, 4 MAY 2020
... dividend decision. The group told shareholders it was a difficult decision but will see how things pan out economically over the next six months. King said it is the most difficult result Westpac has seen in many years. Provisions for expected credit ...

How Cbus is servicing early release requests

KANIKA SOOD  |  FRIDAY, 1 MAY 2020
... numbers by APRA in March. And Cbus initially estimated $3.3 billion worth of requests this financial year and $2 billion for next financial year. Fok said the fund's initial estimate was based on COVID shutdowns as they stood then. "The way it panned ...

Advice group research head departs

HARRISON WORLEY  |  FRIDAY, 1 MAY 2020
... disappointing outcome for Centrepoint Alliance". "Both Miriam and John have been offered roles in the industry that are a great next step in helping them achieve their career goals," Anderson said. Anderson said that since joining the group, both Herold ...

Junk by name, junk by nature?

ALLY SELBY  |  THURSDAY, 30 APR 2020
... and hence the yields available in the market seem to more than compensate for the expected level of bankruptcies over the next 12 months, even under somewhat draconian scenarios," Schnell said. "This disconnect between what could be classified as a 'base ...

Is it really as bad as it seems?

ELIZA BAVIN  |  THURSDAY, 30 APR 2020
... said activity is unlikely to revert to previous levels until the virus has passed, which Fidelity predicts could be sometime next year. "It will also depend on the effectiveness of containment measures to prevent subsequent waves of infection and the ...

Local financial sector to lose $3.5bn plus

KANIKA SOOD  |  THURSDAY, 30 APR 2020
... industry, accounting for only about one fortieth of the economy overall," Richardson said of accommodation and food services. The next on the list are mining, construction, professional services, banking and finance. "The next hardest hits are big mostly ...