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New bill seeks to block investments involving Cbus

ANDREW MCKEAN  |  THURSDAY, 22 AUG 2024
Liberal senator Andrew Bragg has introduced a bill to stop the Housing Australia Future Fund (HAFF) from investing in housing projects financed by Cbus. The bill would amend the Housing Australia Future Fund Act 2023 to include an additional limitation ...

Cost of 'comfortable retirement' increases again: ASFA

ANDREW MCKEAN  |  WEDNESDAY, 21 AUG 2024
... good standard of living in their post work years. This includes covering daily essentials like groceries, transport, and home repairs, along with private health insurance, some exercise and leisure activities, and a restaurant meal on occasion. ASFA ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... Libertas' licence between 2016 and 2018 and was subsequently charged by the court with a three-year correctional order, including home detention. CSLR chief executive David Berry recently warned AFSLs and their professional indemnity insurers (PII) ...

Australia's safety nets 'stretched too thin': CALI

MATTHEW WAI  |  MONDAY, 12 AUG 2024
... workers. The report finds that younger workers (aged 18-34 years) are facing significant underinsurance challenges due to lower home ownership rates and pivoting towards accumulated superannuation savings for retirement. Meanwhile, workers aged 35-54 ...

CareSuper returns 8.54% for default members

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
... merger of CareSuper and Spirit Super on November 1, in which the CareSuper name will be retained. The merged entity will be home to some 572,000 members and $52 billion in funds under management.

No one immune to cost-of-living pain: ABS

ELIZA BAVIN  |  WEDNESDAY, 7 AUG 2024
... to higher living costs for all household types except self-funded retirees. Higher premiums for motor vehicle, house and home contents insurance, and higher fruit and vegetable prices reflecting unfavourable growing conditions, impacted living costs ...

BNP Paribas in talks to buy AXA Investment Managers

JAMIE WILLIAMSON  |  FRIDAY, 2 AUG 2024
AXA is at the pointy end of discussions with BNP Paribas to offload its asset management business for $8.5 billion. AXA Investment Managers has been part of the AXA Group for 25 years and, in that time, has grown to house some $1.4 trillion (€850 ...

AFCA complaints surge in FY24

KARREN VERGARA  |  THURSDAY, 1 AUG 2024
... complained about products at 16,365, up 19% year on year. Credit cards registered 11,841 complaints, while personal loans and home loans drew in 7660 and 6913 complaints respectively. "We are disappointed we haven't seen a reduction [in complaints]. ...

The four Ds to watch in the decades to come: La Trobe

JAMIE WILLIAMSON  |  WEDNESDAY, 31 JUL 2024
... theme, he said, with countries and companies expected to continue onshoring critical industries. "Bringing things closer to home will drive a vast amount of spending over the next 10 years. Governments and regulators are lining up, particularly in the ...

CommSec names top state for economic performance

ELIZA BAVIN  |  WEDNESDAY, 31 JUL 2024
... Western Australia remains in the second spot and is fast closing-in on first place - leading on relative population growth and home lending. WA came in a closet second and Victoria remains in third place with the ACT in fourth position. The previously ...