Bank interloper that will threaten the dominance of ‘big four’
In Europe, to ‘rev’ money has become as ubiquitous among the under-35s as to ‘google’ information and Revolut, the global neo-bank, is close to getting an Australian bank licence.
In Europe, to ‘rev’ money has become as ubiquitous among the under-35s as to ‘google’ information and Revolut, the global neo-bank, is close to getting an Australian bank licence.
Tinkering with property taxes drives investors out of the market – it’s just happened in New Zealand and now Canberra is looking at a very similar picture.
Wealth taxes are back on the agenda and targeting unrealised gains is a key feature of new policies, both at home with Jim Chalmers and aboard with Kamala Harris.
Retail investors appear convinced that gold is ready to run and they are joining central banks in buying up the yellow metal.
Cushioned by government support, Australia’s big banks are cutting their deposit rates for savings accounts and crushing their last remaining competitors.
Banks just don’t need savers like they used to thanks to more than $200bn in government funding from the height of Covid-19 underpinning their ability to cut deposit rates.
CBA has provocatively detailed for the first time that it costs $350m a year to supply cash to its branches, in a move that will open up the vexed cash services issue yet again.
Now that we have the results from the top companies, we can see which ones are bargains and which are likely overpriced. Here’s the top six to ponder:
The government’s struggle to get a new super tax over the line in parliament has received a setback with eight independent MPs joining ranks to call for urgent amendments.
The evaporation of a savings buffer built up during Covid-19 means consumer spending will remain soft and personal tax cuts will not work as effectively.
Original URL: https://www.theaustralian.com.au/author/james-kirby/page/5