Bill Evans, who will step down next year after three decades as Westpac’s chief economist, says “deeply pessimistic” consumer sentiment despite the RBA’s recent pause is a sign of further hikes ahead.
More cranes signal greater construction activity and point to a sound economic outlook. Property lender Thinktank examines the current skyline and what it means for the market.
As Australia’s energy transition ramps up, spurred by a greater government commitment, the ethical investment manager says investors risk getting saddled with “stranded assets” if they don’t limit their exposure to fossil fuels.
India’s booming population has many considering whether and how to get exposure to its market, despite its year-to-date underperformance. While it may not be the next China, India’s growth prospects remain attractive, driven by multiple tailwinds, and investors now have more points of access, Mason Stevens says.
While analysts see a negotiated deal as the most likely outcome, a compromise is still not guaranteed. The bigger concern, they say, stems from ballooning government debt loads across developed markets in the wake of pandemic spending.
Four AMP Group businesses deducted insurance premiums and advice fees from superannuation customers despite knowing they had died, a judge ruled, with two of the companies – AMP Life and AMP Financial Planning – hit with $24 million in penalties.
The federal government plans to use part of the $4.2 billion projected budget surplus to provide cost-of-living relief for Australian households and small businesses. It’s also moving forward with controversial plans to change tax concessions for the superannuation industry.
The regulator has issued 26 stop orders against 18 companies for failing to adequately target financial products to the appropriate market since the “design and distribution obligations” regime began, it said in an initial compliance review. And it warned that closer scrutiny is coming.
After cutting its teeth as a commercial property lender during the GFC, Thinktank – thanks to strong strategic relationships and conservative credit policies – is well funded and prepared for the market to turn, says BDM Lauren Ryan.
The 2023 EY Global Wealth Management Research Report showed 37 per cent of Australian investors think managing their wealth has become more complex in the past two years, with nearly half reporting they are looking for more financial advice across investment services.
