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Housing Starts Still Well Down

The ABS today released building activity data for the June quarter of 2019 and for August 2019. The trend estimate for total dwellings approved fell 3.9% in August. The seasonally adjusted estimate for total dwellings approved fell 1.1% in August. The value of residential building fell 2.9% and has fallen for six months. The trend … Continue reading “Housing Starts Still Well Down”

Nine in 10 Global Funds Have Zero Exposure to Australian Banks

Australian banks are having their toughest time attracting investors, according to new analysis from Copley Fund Research, which monitors flows in funds with $1.2 trillion under management. An exodus by fund managers has left 91% of the 430 funds in Copley’s global analysis with zero exposure to the sector. That’s the lowest take-up on record. On average, allocations to the … Continue reading “Nine in 10 Global Funds Have Zero Exposure to Australian Banks”

Who Audits The Auditors? [Podcast]

There is a Government Inquiry running on the Audit firms in Australia: “Regulation of Auditing in Australia“. Robbie Barwick form the CEC and I discuss the implications. Submission are open to 28th October and you have your chance to have a say on this important subject. It also links with the Cash Ban too!

ANZ Takes Another $559 million Remediation Bill Hit

ANZ has announced that its second half 2019 (2H19) cash profit will be impaired by a charge of $559 million (after-tax) as a result of increased provisions for customer related remediation. The costs include a $405 million after-tax ($485 million before tax) charge within continuing operations, which the bank said largely related to product reviews … Continue reading “ANZ Takes Another $559 million Remediation Bill Hit”