Australian Economy
Australian Economy
leverage in the markets, financial stock
What an Absolute Banker
leverage in the markets, financial stockBanks always have and always will attract the type of individual who wants to make a lot of money from being ‘a banker’. And while there are plenty of decent ones around, the truth is there are plenty of abhorrent individuals willing to fleece other people for their own benefit. Things took a turn for the worse when the banks began to get into the wealth management game in the early 2000s.
This Could Be the Biggest Scandal in Banking History
Lender Mortgage Insurance scandal for Aussie banksAll the banks charge Lender Mortgage Insurance when home loans with more than 80% loan-to-value ratios are taken. Let’s get this very clear. This is a very expensive premium. And you pay it to protect the bank if you can’t repay the loan. That’s right, you’re paying an insurance policy that protects THE BANK...
What Steve Smith and China Have in Common
Steve SmithI’m not sure what’s worse; Trump’s trade war that is set to wipe billions more from the Aussie market today, or Steve Smith’s attempts to wipe one side of a cricket ball with tape to get some sort of a demented edge to win a cricket game. But when you think about it — or at least when you think about it the way that I do — both situations might not be as bad as you think.
How Do You Feel About Tax Cuts?
Australian tax cutsPrime Minister Malcolm Turnbull may be one step closer to passing corporate tax cuts. This comes after One Nation’s Senator, Pauline Hanson, backflipped and announced she would back the company tax plan. Ms Hanson struck a deal with the Turnbull government. But what does this tax cut plan mean for Aussie businesses and workers?
Wesfarmers Cuts Coles Seeking Growth
wesfarmers share price increaseThe decision to spin-off Coles comes after a portfolio review. As with many spin-offs, Wesfarmers shareholders will receive a proportional number of Coles shares. Many of those shares will go to fund managers, who own more than 80% of Wesfarmers stock. They’ll have separate boards and management. Wesfarmers will still trade under the ticker WES, but Coles could soon be a new admission to the ASX.