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Showing 901 - 910 of 4001 results for "Cut"

Global stocks plunge as COVID-19 fear accelerates, oil crashes

ALLY SELBY  |  TUESDAY, 10 MAR 2020
... on supply cuts aimed to address a slump in global demand caused by the COVID-19 outbreak. Russia refused to back plans to cut production, and in retaliation, Saudi Arabia launched a price war for greater market share, slashing oil prices to US$4-7 a ...

Chief economist update: The crash we have to have

BENJAMIN ONG  |  TUESDAY, 10 MAR 2020
... the oil market. Brent crude oil prices slumped by 23.7% to US$34.54 following unexpected news that, instead of agreeing to cut oil production at their March 6 meeting, OPEC+ talks collapsed (due to Russia's dissent) and Saudi Arabia announcing an ...

ANZ wealth exit sees hundreds of jobs go

ELIZABETH MCARTHUR  |  MONDAY, 9 MAR 2020
The Financial Services Union has lashed out at ANZ for plans to cut 230 jobs from its private bank and financial advice businesses. The FSU said that in a memo, ANZ told staff that it was committed to helping rebuild trust in the financial advice industry. ...

Government moves to cut work test

HARRISON WORLEY  |  FRIDAY, 6 MAR 2020
The government is moving to act on one of its election promises by cutting the work test. Draft legislation released this week through the release of draft legislation which will allow Australians aged 65 and 66 to make voluntary super contributions ...

Chief economist update: A crisis of supply, demand and confidence

BENJAMIN ONG  |  FRIDAY, 6 MAR 2020
... and central bank governors of the G7 to assure us, mere mortals, of a concerted response. Several central banks have already cut interest rates led by the Reserve Bank of Australia and underscored by the US Federal Reserve's inter-meeting 50 basis ...

Pendal global equities fund cut at Morningstar

KANIKA SOOD  |  THURSDAY, 5 MAR 2020
Morningstar has dropped coverage on Pendal's global equities fund which recently swapped out an external manager for Pendal's in-house investment team. In November, Pendal announced it would pull $460 million from AQR Capital Management across three ...

Chief economist update: Australia's gentle turning point to turn

BENJAMIN ONG  |  THURSDAY, 5 MAR 2020
... implemented by Chinese authorities and the on-going concerted action by central banks around the world. The RBA's recent rate cut (and promise of more if necessary), the Morrison government's ready to launch stimulus, and the stronger base provided ...

Raiz defends double fee

ELIZA BAVIN  |  WEDNESDAY, 4 MAR 2020
Raiz Invest said it is well placed to manage volatile market conditions because it collects both management and funds under management (FUM) fees from its customers. Raiz chief executive George Lucas said 66% of the company's revenue is generated ...

Chief economist update: Welcome to the day after tomorrow

BENJAMIN ONG  |  WEDNESDAY, 4 MAR 2020
... "magnificent seven" would undertake. However, the Reserve Bank of Australia (RBA) and the US Federal Reserve's (Fed) decision to cut interest rates on the same day suggests that a coordinated response is underway. The RBA cut the official cash rate ...

Colonial First State cuts fees, closes legacy options

KANIKA SOOD  |  TUESDAY, 3 MAR 2020
Colonial First State has cut fees for about 200,000 members and will close some legacy options in FirstChoice Employer Super, as it simplifies its product line and phases out grandfathered commissions. The changes are across retail products (legacy ...