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US debt ceiling agreement reached

CASSANDRA BALDINI  |  MONDAY, 29 MAY 2023
An eleventh-hour tentative deal has been struck by US lawmakers to raise the debt ceiling and avoid a national default disaster. US President Joe Biden and House Speaker Kevin McCarthy announced on Sunday their agreement to raise the $48 trillion (US$31.4 ...

FS Sustainability reveals ESG Power50

STAFF WRITER  |  FRIDAY, 26 MAY 2023
The 50 most influential ESG professionals working at ASX-listed companies have been named in the inaugural ESG Power50 guide. The ESG Power50 comprises a diverse group of professionals who are actively shaping the future for the companies where they ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
The government has handed down its plan to regulate buy now, pay later (BNPL) providers and products under the Credit Act to strengthen consumer outcomes. Historically, BNPL schemes have been exempt from tough regulation as they do not charge interest ...

'Kick down the road' mentality fuels retirement insecurity: Study

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
Despite over 30 years of compulsory Superannuation Guarantee, two-thirds of Australians fear they won't have enough money to last through retirement. A study commissioned by Findex and conducted by YouGov, investigating Australians' readiness for retirement ...

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

Absolute-return bond funds fail ambitious returns: Research

KARREN VERGARA  |  FRIDAY, 12 MAY 2023
... early stage of the pandemic, but all did well to de-risk as the credit tide began to turn in early 2022," the research note read. T. Rowe Price's Global Dynamic Bond is the only one that received an amber rating for its longer-term performance versus ...

Sales-oriented fear stunts expansion goals: Survey

KARREN VERGARA  |  FRIDAY, 12 MAY 2023
... personality traits may result in a higher confidence level that influences their overall ability to drive growth," the paper read.

Work, retirement redefined: Vanguard study

CHLOE WALKER  |  MONDAY, 8 MAY 2023
According to Vanguard's inaugural How Australia Retires report, many working-age Australians are not only changing their expectations of life before retirement, but also reshaping expectations of what retirement means to them. Vanguard's survey of more ...

Issuers must lift DDO game: ASIC

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... effectively and improve processes. "Closer scrutiny of DDO is coming," warned Chester. "All investment product issuers should read our report, titled Design and distribution obligations: Investment products, assess their practices, and address any gaps ...

Finfluencer receives jail sentence

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... notepad was found which detailed his use of HotCopper to promote market manipulation. According to ASIC agreed facts the note read: "Buy big parcels of small cap cash backed resource shares at reasonable price, alert H.C Daytraders to the action sell ...