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Income inequality elevated, spikes: Oxfam

KARREN VERGARA  |  TUESDAY, 16 APR 2024
... inflation. Despite representing just 21% of the global population, rich countries in the north own 69% of global wealth and are home to 74% of the world's billionaire wealth. The total wealth of Australian billionaires increased by 70.5% or US$120 billion ...

Job flexibility, labour market delay retirement age

KARREN VERGARA  |  WEDNESDAY, 10 APR 2024
... fundamental shift in labour market dynamics post-COVID. KPMG urban economist Terry Rawnsley said the adoption of working from home has made many older Australians in professional jobs realise that they could 'semi-retire' and continue to dabble in the ...

Australian housing crisis escalates as affordability worsens

ANDREW MCKEAN  |  MONDAY, 8 APR 2024
... February revealed a significant decline in building approvals to an annualised rate of 150,000, with a marked weakness in new home construction loan approvals. They said while housing affordability deteriorates, strong population growth - 635,000 in ...

BlackRock faces 'stiff competition' from APAC asset managers

ANDREW MCKEAN  |  TUESDAY, 2 APR 2024
BlackRock has maintained its position as the best brand among asset managers in the US and APAC, though subtle shifts are signalling change, according to the latest Broadridge Fund Brand 50 report. Incorporating insights from 1200 fund selectors and ...

Funds SA recruits from LGT

JAMIE WILLIAMSON  |  MONDAY, 25 MAR 2024
... recently welcomed a new head of technology, hiring from LGT Wealth Management. Simon Boyley has joined in the role, returning home from London where he spent seven years with LGT Wealth Management's IT team, most recently as head of technology. Prior ...

Raiding super can worsen housing affordability: Research

KARREN VERGARA  |  MONDAY, 25 MAR 2024
Allowing Australians to draw from their superannuation to purchase a home will not solve the affordable housing crisis and would potentially lead to higher property prices, a new analysis from the Association of Superannuation Funds of Australia (ASFA) ...

Funds SA asset allocation head to depart

ELIZABETH FRY  |  FRIDAY, 22 MAR 2024
... said: "After three years working closely with our South Australian clients and internal teams, Brendan has decided to return home." "On behalf of Funds SA, we thank Brendan for his valuable contribution and wish him all the best in his future career." ...

Luxury fashion house sued over Birkin bag sales

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
... sufficient merchandise previously. "Sales associates are paid 3% on ancillary products such as shoes, scarves, belts, jewelry and home goods; they are paid a 1.5% commission on non-Birkin handbags, and they receive no commission whatsoever on the sale ...

Industry funds set to gobble up over 50% of superannuation assets

ANDREW MCKEAN  |  THURSDAY, 21 MAR 2024
Industry funds will soon be home to more than 50% of all superannuation assets, as per Deloitte's Dynamics of the Australian Superannuation System report. Retail funds are anticipated to grow in the future, thanks to their existing scale, a wealthier ...

Mayfair 101 regains control of assets, liquidators abandon claims

JAMIE WILLIAMSON  |  MONDAY, 18 MAR 2024
The terms of a $44 million legal settlement reached between Mayfair 101, James Mawhinney and the liquidators of IPO Wealth Holdings have been released to the public. In July 2022, Mayfair 101, its managing director James Mawhinney, and the liquidators ...
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