Financial News

The first interest rate movement by the United States’ central bank, the Federal Reserve, in seven years is unlikely to impact the immediate future of interest rates in Australia. The Fed yesterday opted to raise its Federal Funds target interest rate from a range of 0-0.25% to 0.25-0.5%. While it is the first movement in the better part of decade, AMP Capital chief economist Shane Oliver said the decision was not one that came out of the blue. “The move…
CBA will refund approximately $80 million to around 216,000 customers as compensation for failing to apply fee waivers, interest concessions and other benefits since 2008. An ASIC statement said that the refund payments from CBA include an additional amount of interest to recognise the time elapsed since the relevant benefit was not applied. CBA reported the matter to ASIC under its breach reporting obligations in the Corporations Act. For an annual fee, the Wealth Package (for some customers described as…
A new global real estate investment landscape is emerging as investors are looking beyond traditional sectors and geographical locations, according to a global property firm. Knight Frank’s Global Cities: The 2016 Report found that this new market environment is characterised by growing cross-border money flows, a push to diversify portfolios, and a willingness to think laterally by looking beyond the traditional sectors of office, retail and industrial. James Parry, head of institutional sales for Australia at Knight Frank, said an…
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