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Economy

Government scraps financial services ministry

The new government, under Scott Morrison’s leadership, will no longer comprise a Minister for Revenue and Financial Services.

government, financial services, Scott Morrison, Minister for Revenue and Financial Services
Bank reports rise in settlements, loan book spikes by 5%

A non-major bank has reported growth in its home loan settlements despite “significant competition” and funding cost “volatility”.

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Industry calls for stability amid ‘political mess’

A number of industry stakeholders have expressed concern over the recent political turmoil, noting the impact it may have on market conditions.

Industry calls for stability amid ‘political mess’
Investors warned about potential Labor government

A group of Australian fund managers have flagged the risks associated with a change in government, encouraging Australians to invest overseas amid ongoing political instability.

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CBA, World Bank settle $110m blockchain bond

The first public bond to have reportedly been created, allocated and managed using blockchain technology has raised $110 million, exceeding the previously expected $50 million.

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Turnbull deposed, new PM to take office

A new Prime Minister is set to assume office, with the coalition government’s prolonged leadership dispute drawing to a close.

Parliament house, prime minister, Malcolm Turnbull, Scott Morrison
PM to step down if leadership spill ensues

Prime Minister Malcolm Turnbull has said that he “will not stand” as a candidate for the Liberal Party leadership if a spill motion is declared today.

Prime Minister Malcolm Turnbull, step down, spill motion
Sub $400k home sales falling despite price drop

The decline in national dwelling values has had little effect on the rate of home sales in the most affordable segment of the property market, according to the latest CoreLogic research.

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AMP drops rates as competition intensifies

The non-major lender has dropped interest rates on its variable owner-occupied and investment home loan offerings amid “intense” competition.

mortgagebusiness
What is wealthy in Australia?

A recent poll has shown that wealth is a subjective term, with some Australians believing that being “wealthy” means you’re earning between $60,000 and $80,000.

Australian cash, money, Australian dollars, wealthy, wealth creation
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