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Australia's AAA rating at risk

ELIZA BAVIN  |  THURSDAY, 9 APR 2020
... Economic Response announced on 12 March 2020." The ratings agency said the enlarged budget deficit is expected to remain for the next two years, but is expected to ease due to the overall strength of Australia's financial structure. "Net government debt ...

ClearView promotes resilience

HARRISON WORLEY  |  THURSDAY, 9 APR 2020
... ClearView is prepared to make a range of responses should the COVID-19 pandemic have a more sustained impact on the firm over the next two years, with expense reductions not out of the question. In a document filed with the ASX this week, ClearView said ...

Hostplus responds to PDS controversy

ELIZABETH MCARTHUR  |  THURSDAY, 9 APR 2020
... are having a hard time financially as a result of the crisis will be able to access up to $20,000 of their super over the next two years. Hostplus is likely to have many members - the bulk of which work in the hospitality and tourism industries - who ...

Wall Street rally runs out of steam

ALLY SELBY  |  WEDNESDAY, 8 APR 2020
... specialist Anthony Doyle told Financial Standard volatility is here to stay. "Volatility is set to remain elevated for the next few months," he said. "While the market is placing a high level of importance on the growth rate of the number of COVID-19 ...

COVID-19 to push life premiums up: Rice Warner

HARRISON WORLEY  |  WEDNESDAY, 8 APR 2020
... perhaps scale up further product design changes." The researcher said Australians may rush towards life insurance over the next two years, which would be both positive in the respect that it would address Australia's underinsurance problem, and potentially ...

Taxman simplifies work from home deductions

KANIKA SOOD  |  WEDNESDAY, 8 APR 2020
... "The ATO has undertaken to review these arrangements in line with COVID-19 developments to see if they are required for the next financial year. "These new arrangements do not prohibit Australians from making a standard working from home claim using ...

Big banks cop a beating

ELIZA BAVIN  |  WEDNESDAY, 8 APR 2020
... themselves should alleviate some of the asset-quality pressure that will emerge from the downturn, particularly within the next six to 12 months. Meanwhile, the prudential regulator issued a letter to the banks saying they have a crucial role to play ...

Not safe to launch: APRA

HARRISON WORLEY  |  WEDNESDAY, 8 APR 2020
APRA will not issue a new superannuation licence any time within the next six months, with the prudential regulator keen to avoid the early failure of new super funds at the hands of COVID-19. APRA has suspended the issuance of new licences to budding ...

Stimulus is finite: Prime Minister

ELIZABETH MCARTHUR  |  TUESDAY, 7 APR 2020
... it will pass parliament tomorrow, because it must pass parliament. Australians need the certainty of that lifeline for the next six months, it buys us the next six months." Morrison was also briefly asked about superannuation and said that the idea of ...

Opportunities in fixed interest during crisis

ALLY SELBY  |  TUESDAY, 7 APR 2020
... quite anchored because the Reserve Bank of Australia has signalled that cash rates will be held at 0.25% for at least the next three years," Sivapalan said. "We've observed the RBA buy government bonds and on Wednesday 25 March, also witnessed their ...