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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 ...

ANZ, Macquarie bring forward rate cut expectations

ELIZA BAVIN  |  MONDAY, 13 JAN 2025
... cut the cash rate by 25 basis points at its February meeting, rather than waiting until May," Boyton said. For the November read, the Consumer Price Index (CPI) indicator rose 2.3% in the 12 months to November 2024, but trimmed mean inflation came in ...

Chalmers boasts inflation data, experts divided

ELIZA BAVIN  |  THURSDAY, 9 JAN 2025
The monthly Consumer Price Index (CPI) indicator rose 2.3% in the 12 months to November 2024, but trimmed mean inflation came in at 3.2% - still tracking above the Reserve Bank of Australia's (RBA) target range of 2-3%. Speaking at a press conference ...

February rate cut unlikely after inflation data

ELIZA BAVIN  |  WEDNESDAY, 8 JAN 2025
... inflation needs to be "sustainably within the 2-3% target range". VanEck head of investments Russel Chesler said the inflation read was higher than expectations, which might lead the RBA to hold off on a February interest rate cut. "Inflation has edged ...

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
... requested information as part of the review process, which is expected to take approximately three months," a Sanlam statement read. "We look forward to the outcomes of the independent review and will continue to work collaboratively with ASIC." Since ...

Superhero Super assets to swell via fund transfer

JAMIE WILLIAMSON  |  FRIDAY, 20 DEC 2024
Superhero Super's assets are about to double, as it prepares to merge with MYOB's Slate Super and Simple Choice Super. Members have now been informed that Slate Super and Simple Choice Super - both sub-plans of the Grosvenor Pirie Master Superannuation ...