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Showing 371 - 380 of 5945 results for "banks"

$100bn withdrawal triggers First Republic stock plunge

ANDREW MCKEAN  |  WEDNESDAY, 26 APR 2023
... workforce by around 20-25% in Q2 2023. First Republic chief financial officer Neal Holland said with the closure of several banks in March, the bank experienced unprecedented deposit outflows. "We moved swiftly and leveraged our high-quality loan and ...

RBA appointments prompt debate

CASSANDRA BALDINI  |  FRIDAY, 21 APR 2023
... strengthen accountability. "It better aligns the RBA's monetary decision-making process with some other key central banks around the world," he said. However, Philip added, these sorts of changes will be of little relevance to Australian households ...

SMSF Association names head of membership

CHLOE WALKER  |  TUESDAY, 18 APR 2023
Neil Sparks will become the new head of membership and corporate development for the SMSF Association, effective May 1. Sparks currently serves as head of policy and technical services at BT, a tenure he has held for over 15 years. As a fellow of the ...

Global X launches new Australian equity ETF

CHLOE WALKER  |  THURSDAY, 13 APR 2023
... as a sector diversification tool, allowing investors to complement existing blue-chip portfolio holdings in the big four banks, major mining and energy companies, while avoiding a concentration in these sectors. "This fund offers an effective solution ...

Global economic growth hits 20-year low: IMF

ANDREW MCKEAN  |  WEDNESDAY, 12 APR 2023
... receded amid stubbornly high inflation and recent financial sector turmoil. "Although inflation has declined as central banks have raised interest rates and food and energy prices have come down, underlying price pressures are proving sticky, with labour ...

SVB, Signature Bank securities up for sale

KARREN VERGARA  |  WEDNESDAY, 12 APR 2023
... Corporation recently announced that it retained BlackRock Financial Market Advisory to sell the securities of the two collapsed banks. Signature Bank has about US$27 billion while SVB has US$87 billion in securities comprising agency mortgage-backed ...

Pension fund ousts chief over US bank losses

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... in the interim. In March, Alecta admitted it had incurred significant losses as a result of its investments in the three banks. The losses were in the realm of $2.8 billion. The fund said it has been working since to isolate the losses and understand ...

Lowe reinforces more hikes may come

ANDREW MCKEAN  |  THURSDAY, 6 APR 2023
... and governance challenges. "It's worth recalling that the task of controlling inflation has been assigned to central banks following years of experience with other arrangements that did not work out so well," Lowe said.

Economists divided: RBA's moment of truth looms

ANDREW MCKEAN  |  TUESDAY, 4 APR 2023
... split on the Reserve Bank of Australia's (RBA) upcoming decision on whether to raise the cash rate from 3.6%. The major banks are at odds: ANZ and NAB forecast a 25 basis point cash rate hike, while Commonwealth Bank and Westpac anticipate the RBA ...

New Australian digital assets bill to regulate crypto

ANDREW MCKEAN  |  THURSDAY, 30 MAR 2023
... issuers to hold the full amount of their face value liabilities in accounts with an Australian ADI. Further, the Bill requires banks and financial institutions to disclose their use and management of foreign CBDCs in Australia to ASIC and the Reserve ...