MLC Life and Resolution Life Australasia to merge
Dec 11, 2024 · The merger, which also includes a rebrand, is set to create one of the largest life insurance businesses in Australia.
Bullock hints at no rate cut in 2025 | Financial Standard
Nov 29, 2024 · Bullock acknowledged that inflation has been falling - headline inflation has eased to 2.8% over the year to September, down from 5.4% in 2023 - but said that the bank is waiting to see whether inflation will stay within the 2% to 3% target range. "Despite the decline there is still some way to go to return inflation sustainably within our 2% to …
RBA to meet for final 2024 rate decision | Financial Standard
Dec 10, 2024 · But the RBA has been undeterred from holding rates steady with governor Michele Bullock remaining steadfast that the bank will only act once inflation is "sustainably" within the central bank's target range of 2-3%.. To combat higher mortgage rates, data from illion found Australians have been using the Stage 3 tax cuts to reduce debts without increasing their discretionary spending ...
Perpetual-KKR deal hits tax bill snag | Financial Standard
Dec 10, 2024 · To dispute the ATO's position, Perpetual said it "would need to withhold sufficient funds to cover the asserted corporate tax liability amount from any shareholder proceeds under the scheme until completion of that process, which would be protracted, would only commence once Perpetual was assessed and there would be no certainty of the outcome".
Funds are 'getting back to basics', says report
Dec 10, 2024 · Global public pension funds and sovereign funds are refocusing on generating long-term returns, generally targeting opportunities in private markets, emerging markets, and green assets, according to the Official Monetary and Financial Institutions Forum (OMFIF) Global Public Funds 2024 report. The report, which is based on discussions with 28 global public pension and sovereign funds with over ...
ASIC seeks $27m penalty against AustralianSuper
Oct 10, 2024 · ASIC is seeking a major $27 million penalty against AustralianSuper in the Federal Court. ASIC alleges that, for almost 10 years, AustralianSuper failed to have adequate policies and procedures to identify members who held multiple AustralianSuper accounts and to merge those accounts, where doing so was in the member's best interests.
ANZ, OnePath settle $50m class action | Financial Standard
Oct 4, 2024 · ANZ and OnePath superannuation customers may be entitled to get their super back after Slater and Gordon secured a $50 million class action settlement.
UniSuper has 'some work to get on with' on cyber front: Chair
Dec 6, 2024 · UniSuper's leadership team has touched on how the fund is strengthening its operations following the extensive system outage in May this year.. Speaking at the UniSuper Annual Members Meeting last night, chief executive Peter Chun thanked the $140 billion fund's members and employers for their patience throughout the weeks-long outage that saw the bulk of UniSuper's online systems and its app ...
GDP grows but still slow: 'Confirms our worst fears'
Dec 4, 2024 · IG market analyst Tony Sycamore said the soft GDP read reflects the RBA's restrictive policy settings. "The RBA's latest forecasts from the November Statement of Monetary Policy suggest an expectation that growth will pick up to 1.5% by December 2024 before climbing to 2.3% by June 2025," he said.
Australian Unity offloads banking business | Financial Standard
Nov 6, 2024 · Australian Unity has announced the sale of its banking business to Bank Australia, with the transfer set to be complete in late 2025. Under the agreement, Bank Australia will acquire Australian Unity banking customers and their existing loans, credit cards and deposit accounts, which at 30 June 2024 sat at approximately 25,000 customers, $1.4 billion in loans and credit, and $1.6 billion in ...