Posted: February 3rd, 2017 | Author: Michael Courtenay | Filed under: Business News, Indeep Media | Tags: Australia, Bank, Banking, consumer-finance, regulation | Comments Off on Report Into Australian Bank Practice Finds Lenders Unfair
I’ve banked with a small bank – Bendigo Bank – since my return to Melbourne 8 years ago. Australia’s big banks have plenty of critics, and now they can add the Small Business Ombudsman to that fast growing list.
The high profile Ombudsman, Kate Carnell, who has authored a report released today into banking practices, has found lenders are not being fair when they enter into contracts with small and medium-sized businesses.
The big four banks enjoy a $19 billion advantage over their smaller rivals by still being able to self-calculate the riskiness of their home loans according to analysis from the Australian Prudential Regulation Authority.
Despite a new regulatory framework requiring the big banks to hold larger top tier capital buffers, their ability to internally assess their asset risks is still a huge advantage in terms of the amount of “expensive” capital locked up and their ability to access cheaper funding.
While the CBA, NAB, Westpac and ANZ are now required to base their regulatory capital on a blanket of at least 25 percent of mortgages being at risk, smaller lenders must base their risk weightings at 39 percent :: Read the full article »»»»
Posted: January 26th, 2017 | Author: Michael Courtenay | Filed under: Technoid, Technology | Tags: Australia, Cybersecurity, defence-and-national-security, federal-government, government-and-politics, hacking, information-and-communication, Malcolm Turnbull | Comments Off on Technoid: Australian Prime-minister Declares Cyber Security ‘the new frontier of warfare’
Australian Prime Minister Malcolm Turnbull declared that cyber security was “the new frontier of warfare” and espionage while announcing new measures to protect Australian democracy from foreign interference :: Read the full article »»»»
Posted: January 26th, 2017 | Author: Michael Courtenay | Filed under: Business News, Hard Pill to Swallow, Socially Engineerd | Tags: Australia, Business Economics and Finance, Currency, donald trump, economic-trends, futures, government-and-politics, markets, stockmarket, trade, united-states, US President | Comments Off on Socially Engineered: Trump Has Become The Single Biggest Global Market Influence
You can be sure that when vast amounts of money move in a particular direction, somewhere, somehow, a powerful person, or group of powerful people, have made an important decision about something :: Read the full article »»»»
Posted: October 28th, 2016 | Author: Michael Courtenay | Filed under: Business News | Tags: Australia, Australia-China-Business-Week, Business News, China | Comments Off on Trading with China? Australia China Business Week, an event not to be missed.
ACBW 2016 Sydney is a must attend event for SMEs executives and business owners wanting to develop or refine their China strategy.
Forum and Function :: ACBW Keynote Lunch and Forum
The Hon Andrew Robb AO, the man that Macolm Turnbull dubbed the “best Trade Minister in Australia’s history” for his role in concluding the decade-long ChAFTA negotiations is this years Australia China Business Week keynote speaker. for the previous two years Prime Minister Turnbull himself gave the keynote speech.
The Function ACBW Lunch will feature a high profile panel with Minister Aryes MP, Minister for Trade, Tourism and Major Events, China’s Consul General Gu Xiaojie as well as industry leaders, moderated by Mark Hawthorne, Editor at Large for Fairfax Media. Corporate tables are available for the event, as are individual bookings, the mix of attendees is a great reflection on the diverse interest in our two nations share.
The lunch allows delegates, VIP guests, and sponsors to network, hear from unique high-profile keynote speakers. Through case studies, keynote speeches and panel discussions the ACBW Keynote Luncheon offers a unique and valuable learning opportunity for those seeking to expanding into the China market.
The forum will run over two days, as a series of seminars bringing together industry professionals, business and government leaders to discuss valuable insights into the trends shaping our largest trading partner. The opportunities that our two nations might provide for Australian companies, the changing relationship between Australia and China and the implications for businesses operating between our two nations. The ACBW agenda is designed to encourage interactive discussion.
The brains behind this event – Australian Business Forum – ABF, provides a platform for Australian business to engage and form relationships in Australia China. Targeting Australian companies either currently engaged or looking to enter the China market, ABF has created a wide range of initiatives across its platform to facilitate Australian-Chinese engagement. ABF is an organization dedicated to strengthening business ties between Australia & China with a strong focus on enabling Small & Medium Enterprise – SMEs – to effectively engage with Chinese investors, the Chinese marketplace :: Read More >>
Posted: April 5th, 2015 | Author: Michael Courtenay | Filed under: Australia, Politics, World of the News | Tags: Australia, community-and-society, federal-government, government-and-politics, pension, welfare | Comments Off on Australian Government Considers Large Scale Roll-back of Pension Access
In its hunt for savings, the Australian Government is “seriously considering” a proposal to tighten the assets test for retirees, shaving hundred of millions off the ballooning cost of the pension system.
At the moment, retired couples who own their home, and with other assets up to $1.1 million still qualify for a part pension, a position many consider untenable. The Social Services Minister Scott Morrison has strongly indicated he will look at scaling back access to the pension for wealthy Australians as an alternative to the Government’s current plan to change the rate of indexation.
In the backflip – the government pledged, via last years budget, to decouple pension rises from the ‘average (male) earnings’, instead linking them to the rate of inflation, saving the government almost $450 million a year – cutting into pension payments by as much as $80 a week – might get the boot?
Social Services Minister Scott Morrison said last week that he wanted “modest, incremental change” to the pension system, though he is still standing by last year’s budget measure and an attempt to raise the pension age to 70 – which has also stalled in the Senate :: Read the full article »»»»