Do not expect any loosening of credit in this cycle, via AFR: The corporate regulator’s chief prosecutor, Daniel Crennan, QC, has warned the government has empowered him to pursue “extremely harsh civil penalties and criminal sanctions against banks, their executives and others” after the Senate passed tough new rules for white-collar offences. Corporate executives could
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Here’s the DHG wrap: And the segment split: The biggest issue is in the print revenue: Less people spending less on glamour ads, I guess. Then there’s the write down which sounds lie the tip of the iceberg and an outlook that ain’t much to celebrate: Dour stuff with the risk of considerably worse ahead.
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By Leith van Onselen Consumer groups have lashed the mortgage broking industry for pretending to care about reform while vigorously lobbying politicians to protect their commissions. From SBS News: The consumer groups that were part of a forum with the mortgage-broking industry have quit en masse, citing a lack of progress and willingness to change.
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By Leith van Onselen The REINZ has released its house price data for January, which revealed a 2.9% seasonally adjusted rise in the national median house price, with prices up just 5.2% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 2.3% in December, with prices up 9.7% year-on-year. Looking at the major cities,
The post Auckland house prices continue to fall appeared first on MacroBusiness.
By Leith van Onselen At the end of 2018, the Morrison Government failed to strike a deal with the Senate cross-bench to pass a bill that would have seen fees for low-balance superannuation accounts capped at 3% and exempted fund members under the age of 25 from compulsory life insurance. Last night, the Government struck
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By Leith van Onselen After Statistics New Zealand last month changed the way that it measures net overseas migration (NOM), resulting in large falls in the estimated migrant intake, it has released migration estimates for the 2018 calendar year, which reveals that NOM fell further to 48,278 people, down from a peak of 62,227 in
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By Leith van Onselen Telstra has advised that its profit fell by 27% to $1.2 billion in the first half of 2018-19. CEO Andy Penn said revenue is being affected by the impact of the national broadband network (NBN) on its fixed-line business. He argues that the NBN’s wholesale prices will eventually need to be
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According to popular argument, it killed Malcolm Turnbull and the Libs in Wentworth, and has brought the government to its knees in blue ribbon electorates around the country. Yes, it’s energy policy. Yet as of today, with an election three months away, the Scummo Government has none, via AFR: So Scott Morrison’s big stick has
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Via The Australian: Ken Henry is nothing if not staunch in his self-belief. His friends have often described him as the “great oak” – the stronger the wind blew, the harder he pushed back. For months since a disastrous appearance before the Hayne banking royal commission last year, Henry was convinced that he had done
The post Ken Henry leaves behind Australia’s least trusted bank appeared first on MacroBusiness.
DXY softened a touch last night as EUR firmed: The Australian dollar was weak against DMs: But strong against EMs: Gold firmed: Oil too: Base metals are giving reflation the bird: Big miners were mixed: EM stocks flat: And junk: Treasuries bid big: The bund curve keeps flattening: Stocks were flat: The big data release
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