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CPI rises, IMF lowers global outlook

ANDREW MCKEAN  |  WEDNESDAY, 27 JUL 2022
Australia's annual CPI inflation grew to 6.1% in the June quarter, slightly below the consensus forecast of 6.3%. Consumer prices rose 1.8% this quarter, again less than the 1.9% forecast. "Annual CPI inflation increased 6.1% in the June quarter ...

Legalsuper hires from ART, Perpetual

JAMIE WILLIAMSON  |  TUESDAY, 26 JUL 2022
... investment out-performance has further made us a 'fund of choice' for senior superannuation executives." Legalsuper is home to more than $5 billion in retirement savings on behalf of about 41,000 members. "Acknowledging continued industry commentary ...

ART, QIC partner on affordable housing

JAMIE WILLIAMSON  |  TUESDAY, 26 JUL 2022
Australian Retirement Trust and QIC will work with Brisbane Housing Company to finance and develop up to 1200 new homes. The partnership aims to provide a scalable model for the financing, development, and operation of social and affordable housing ...

Foreign investment fees to double

JAMIE WILLIAMSON  |  FRIDAY, 22 JUL 2022
... benefit from foreign investment in Australia," Chalmers said. "Tackling housing affordability and helping more Australians into home ownership is a significant challenge and it's one this government takes seriously."

Tax exemptions overwhelmingly benefit the wealthy: OECD

CHLOE WALKER  |  FRIDAY, 22 JUL 2022
... households," it said. It also said "caution should be exercised" when handing out tax incentives to encourage people to buy a home. "In most cases, increasing the supply of housing and a more efficient use of the housing stock through both tax and non-tax ...

ANZ, Suncorp deal cops industry backlash

CASSANDRA BALDINI  |  TUESDAY, 19 JUL 2022
... transaction on a range of retail and business banking products and services including transaction accounts, term deposits, home loans, personal loans, and small-to-medium business banking," the competition regulator said. The ACCC said it recognises ...

Aussies don't need so much in retirement savings: SCA

JAMIE WILLIAMSON  |  TUESDAY, 19 JUL 2022
... comfortable lifestyle and $42,621 for a modest living. The Super Consumers Australia targets assume an individual owns their own home outright or won't be renting or paying a mortgage and all spending figures have been adjusted for inflation and based ...

ANZ to purchase Suncorp Bank for $4.9bn

CASSANDRA BALDINI  |  MONDAY, 18 JUL 2022
... proposal has been assessed through the lens of creating value for shareholders and customers. "Suncorp Group, which is the proud home of several of Australia and New Zealand's leading and most trusted insurance brands including AAMI, GIO, Shannons, Apia ...

ASX 100 chief executive bonuses hit record highs

CASSANDRA BALDINI  |  WEDNESDAY, 13 JUL 2022
... rebounding but reaching new heights," the report said. Afterpay bosses Anthony Eisen and Nick Molnar set a joint record, taking home $264.2 million of realised pay - more than $100 million each. The report states that even without the duo's record ...

Global fintech Smart expands pension offering to Australia

CASSANDRA BALDINI  |  TUESDAY, 12 JUL 2022
... Smart brand and provide its fintech offerings locally. Its technology includes apps, web access, Amazon Alexa and Google Home skills, apparently making it as easy to manage retirement funds as it is to shop or bank online. Co-founders of Smart Andrew ...