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Government launches digital economy strategy
ANNABELLE DICKSON  |  FRIDAY, 7 MAY 2021
The government has announced a $1.2 billion investment to support the digital transformation of the economy and measures to encourage business investment in technology, ahead of the federal budget. The digital economy strategy includes $111.3 million ...
Chief economist update: A date with the RBA in July
BENJAMIN ONG  |  WEDNESDAY, 5 MAY 2021
The Reserve Bank of Australia's (RBA) May the fourth Board meeting would have been a ho-hum event had it not been for the month of July. As expected, the RBA left monetary policy settings unchanged - "including the targets of 10 basis points for ...
Westpac to face court over insider trading
JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
ASIC has commenced civil proceedings against Westpac for insider trading on a $12 billion deal with AustralianSuper and a group of IFM entities. Westpac will face off against the regulator in the Federal Court on allegations of insider trading, unconscionable ...
Chief economist update: The Fed and Australia
BENJAMIN ONG  |  TUESDAY, 4 MAY 2021
... bright and wonderful taking place in the Australia to date, the domestic economy could withstand if ever and whenever the Fed decides to taper policy accommodation.
Chief economist update: Not yet time to make a change
BENJAMIN ONG  |  FRIDAY, 30 APR 2021
... to households and businesses, falling coronavirus infections and the acceleration in vaccinations. This is not lost on the Fed, saying: "Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened. ...
Westpac settles life insurance class action
ELIZABETH MCARTHUR  |  WEDNESDAY, 28 APR 2021
Westpac has settled a class action relating to life insurance sold through its financial advice network. The class action was brought against Westpac Group by Shine Lawyers in 2017. It claimed that between 2011 and 2017, customers who received financial ...
Draft regulation on YFYS released
KANIKA SOOD  |  WEDNESDAY, 28 APR 2021
The government has conceded to industry demands on administration fees and unlisted assets' treatment in the new APRA performance tests, as it finally releases draft regulation for the Your Future, Your Super reforms. It has agreed to include administration ...
Chief economist: Of capital gains taxes, COVID-19 and climate change
BENJAMIN ONG  |  FRIDAY, 23 APR 2021
It's bad news day on Wall Street overnight with all four its benchmark equity market indices flashing red. The S&P 500, the DJIA and the Nasdaq dropped by 0.9% each, while the Russell 2000 had a smaller decline of 0.3%. The financial literati were ...
Government merges advice reviews
KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
The federal government will fold the 2022 Life Insurance Framework Review into the Quality of Advice Review, taking over the responsibilities from ASIC. The Quality of Advice Review will consider the LIF Review as part of its wider mandate, Minister ...
Chief economist update: The pause that refreshes
BENJAMIN ONG  |  WEDNESDAY, 21 APR 2021
... new spending and ~$500M in new tax credits." So much money could flood the system and lift inflation. But have no fear, the Fed is here. In an exclusive, Reuters prints Fed Chairman Powell's letter to Senator Rick Scott that, "we are fully committed ...
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