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Australian Workers Can Expect Fatter Pay Packets In 2010
Australian employers are generally optimistic about the prospects for the economy during 2010, meaning that many employees can expect fatter pay packets this year.
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ANZ’s New Chairman To Begin Term March 1st
Australia and New Zealand Banking Group says John Morschel will start serving as the company’s chairman beginning March 1st replacing Charles Goode who has served in that position for the last 14 years.
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ANZ Denies Negotiation With AMP
Australian banking major ANZ was forced to comment on speculation linking it with Wealth Manager AMP in a $4 billion deal. ANZ said its sole priority right now, was to integrate its now wholly owned joint venture with ING.
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Suncorp Reports 41 Per Cent Jump In Net Profits
Brisbane based bancassurance group Suncorp-Metway reported a 41 per cent leap in first half net profits, but despite delivering robust profits growth, Suncorp lowered its interim dividend payment, saying it had to improve insurance margins.
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Australian Housing Increasingly Unaffordable
According to the results of a survey conducted by the Housing Industry Association (HIA) and Commonwealth Bank of Australia. Housing has become increasingly unaffordable, as the effects of three consecutive rate hikes, and the rolling back of first home buyers grant have begun to take effect.
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Super Fund Industry Opposed To Rudd Changes
Retail and industry superannuation funds have joined forces in a bid to lobby the government against implementing new regulations for the $1.2 trillion industry, arguing that such changes would only result in higher costs and increased complexity.
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RBA Governor Says Home Owners Should Brace For Further Interest Rate Increases
Reserve Bank of Australia (RBA) governor Glenn Stevens says that Australian mortgage holders should brace themselves for further interest rate increases during the year, although the pace of increases will be largely moderated by the way retail lenders react.
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NAB First Quarter Earnings Disappoints
Australian banking major National Australia Bank failed to take advantage of the domestic economic recovery and felt the effects of fierce competition, as it delivered almost no growth in first quarter cash profits compared to the same period a year earlier.
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Requests For 100 Per Cent Mortgages Leap 250 Per Cent
According to a leading mortgage broker, the number of enquiries regarding 100 per cent mortgages has leapt by 250 per cent since the federal government rolled back the extent of its first time home buyer grant at the end of 2009.
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AMP Profits Leap 27 Per Cent And Still Interested In AXA Asia Pacific
Craig Dunn, chief executive of Australian wealth manager AMP, the second largest fund manager in the country, says his company continues to be interested in acquiring AXA Asia Pacific Holdings (APH), and is assessing its next move.
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