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Australia narrowly avoids 0.9% GDP blow: KPMG

ALLY SELBY  |  MONDAY, 16 MAR 2020
... the deficit by increasing taxes or reducing other expenditures and that businesses that have brought forward investments may not be able to do as much later on." If the stimulus package is implemented in an "optimal and efficient" manner, more than $20 ...

Former Toys "R" Us executives face fraud charges

ALLY SELBY  |  MONDAY, 16 MAR 2020
... throughout the bankruptcy process. Instead "by mid-December 2017, company directors and officers learned that the company could not meet financial milestones required by the lenders, which meant the financing would terminate, and Toys "R" Us would not ...

US turns to QE, RBA to follow

ELIZA BAVIN  |  MONDAY, 16 MAR 2020
... measures to slow the spread of COVID-19.Kerry Craig, global market strategist, J.P. Morgan Asset Management, said rate cuts are not effective if the transmission mechanism to households and companies is impaired. "The 100 basis points rate cut that the ...

Stand still, get left behind

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
... to slow or block action." And, he added, clients are wary of greenwash. They want to see real measurement of ESG factors - not just marketing. "There is an awareness of the potential that a fund doesn't live up to its promises, even when they're ...

Panic selling to do more damage: Ord Minnett

ELIZA BAVIN  |  MONDAY, 16 MAR 2020
... gross trading margin sitting at 6.0% (2.65% in February)." Some of the recent market moves are part of a repricing event, not a distress event in response to the COVID-19 outbreak, Ord Minnett said. "Recent market moves are unprecedented and in some ...

Citi to expand local securities team

HARRISON WORLEY  |  MONDAY, 16 MAR 2020
Global financial services giant Citi Group is planning to boost the presence of its Sydney-based securities services team, as it onboards a suite of new custody clients. Citi is expecting to build out its Sydney footprint after it finalised a client ...

Zenith boosts Mosaic offering

HARRISON WORLEY  |  MONDAY, 16 MAR 2020
... exporting Analyse's date to Microsoft Excel, so that they can manage that data in the most relevant way. Zenith confirmed it would not retire the "old" adviser portal as part of the update, ensuring advisers they could still use the tool in the same ...

Chief economist update: Coronavirus cures climate change

BENJAMIN ONG  |  MONDAY, 16 MAR 2020
... said it would inject an additional ¥1.5T in two-week lending. ECB chief economist Lane said in a blog post central bank will not tolerate any risks to smooth transmission of its policy and stands ready to do more. BOC cut 50bps to 0.75% following similar ...

Sunsuper Labor donations rile Bragg

HARRISON WORLEY  |  FRIDAY, 13 MAR 2020
... regulator took a view on political donations made by superannuation funds, to which the APRA leader said the regulator did not. Bragg then turned to Sunsuper's September 2019 donation to the ALP - the first of its kind for the fund - and asked Rowell ...

ClearView restructures pricing as life sector struggles

HARRISON WORLEY  |  FRIDAY, 13 MAR 2020
... changes will be subject to a two-year freeze period for inforce business; in a move ClearView said would ensure clients did not experience a change to their base rate across the first two years of their policy. However the new rates will apply from the ...