News image: Australian Online Retail Sees Continued Growth in May Amidst Nationwide Spending Surge Australian Online Retail Sees Continued Growth in May Amidst Nationwide Spending Surge
Thu, 03 Jul: Australian online retail sales experienced a modest rise in May, as consumers continued to invest in fashion, games, and toys. According to the latest figures from the National Australia Bank, there was a 0.7% increase in online sales for the month, compared to a 1.1% growth in April. Over the past year, Australians have spent approximately $63 billion on online retail purchases. - read more
News image: Super Funds at a Crossroads: Balancing Advice Expansion and Governance Challenges Super Funds at a Crossroads: Balancing Advice Expansion and Governance Challenges
Thu, 03 Jul: The Australian superannuation sector is gearing up for substantial changes in its advisory services as regulatory expectations and the lessons from the Hayne royal commission loom large. As super funds aim to expand their advisory capabilities, they face potential pitfalls reminiscent of past missteps, notably conflicts of interest and inefficient fee structures. These challenges come as super funds are under pressure to enhance their advice delivery to curb member drift to retail platforms, which have recently seen significant inflows. - read more
News image: Jeff Bezos Offloads Amazon Shares Worth Over $1 Billion Jeff Bezos Offloads Amazon Shares Worth Over $1 Billion
Thu, 03 Jul: Amazon founder Jeff Bezos recently divested more than 3.3 million shares of Amazon, in a transaction valued at approximately $1.1 billion. This sale was disclosed in a financial filing and is part of a pre-arranged trading plan that Bezos initiated in March. As per the arrangement, Bezos has the option to sell up to 25 million shares through to May 2026. - read more
News image: Landmark NSW Decision: Dog Walking Costs Covered in Car Crash Injury Claims Landmark NSW Decision: Dog Walking Costs Covered in Car Crash Injury Claims
Thu, 03 Jul: In a groundbreaking decision by the NSW Personal Injury Commission, an insurer has been directed to cover the costs of dog walking services for a car crash victim. The commission ruled that these services classify as domestic assistance under the state’s Motor Accident Injuries Act. This case could pave the way for broader interpretations of 'attendant care services' for claimants. - read more
News image: Pay Boosts and Policy Changes: A Closer Look at Financial Updates for Australian Workers Pay Boosts and Policy Changes: A Closer Look at Financial Updates for Australian Workers
Thu, 03 Jul: The starting days of the new financial year bring significant changes for Australian workers, particularly those on minimum wage. As of Tuesday, the minimum wage will rise by 3.5 per cent, increasing hourly earnings to $24.95, or $948 weekly. This adjustment also affects award wages and comes as a response to rising living costs, outpacing current inflation rates. - read more
News image: ASIC Warns Against High-Pressure Super Fund Switches ASIC Warns Against High-Pressure Super Fund Switches
Thu, 03 Jul: The Australian Securities and Investments Commission (ASIC) has issued a new alert, urging consumers to safeguard their superannuation from aggressive sales tactics aimed at enticing them to switch into complex and high-risk funds. This alert comes as a protective measure by ASIC, designed to prevent the mismanagement of Australia’s lucrative superannuation pool, which is valued at trillions of dollars. - read more
News image: US Dollar Faces Historic Decline Amid Trump’s Tariff Policies US Dollar Faces Historic Decline Amid Trump’s Tariff Policies
Thu, 03 Jul: The US dollar has experienced an unprecedented decline, marking its worst first-half performance since 1973. Concerns surrounding President Donald Trump's tariff policies have intensified, leading to a substantial drop in the value of the world's primary reserve currency. Specifically, the dollar weakened by 10.7% against a basket of major trading partners' currencies in the first six months of the year, reminiscent of Nixon's era when the dollar was untethered from gold. - read more
News image: Extreme Weather Drives $1.8 Billion in First Half Losses for Australian Insurers Extreme Weather Drives $1.8 Billion in First Half Losses for Australian Insurers
Thu, 03 Jul: Extreme weather events in Australia have resulted in significant financial impacts for insurers, tallying $1.83 billion in losses during the first half of the year. This comes as insurance companies gear up for further claims linked to ongoing severe weather in New South Wales. - read more
News image: Cost of Living Crisis: Aussies Urged to Prepare for What's Ahead Cost of Living Crisis: Aussies Urged to Prepare for What's Ahead
Mon, 30 Jun: Australians have been cautioned to prepare for another cost of living spike as the effects of the previous crisis persist. Recent data shows a drop in the consumer price index to 2.1% for May from 2.4% in April. Similarly, the trimmed mean inflation rate decreased to 2.4%, the lowest since November 2021, raising hopes for further interest rate cuts. However, despite these promising signs, the cost of goods and services remains significantly higher than before the pandemic. - read more
News image: Major Reform Brings Gains in Closing Gender Super Gap Major Reform Brings Gains in Closing Gender Super Gap
Mon, 30 Jun: The gender superannuation gap in Australia is expected to shrink by about 25%, thanks to new reforms making superannuation payable on Commonwealth Paid Parental Leave (PPL). Starting 1 July, these changes promise an average boost of approximately $15,000 to the retirement savings of over 200,000 Australian mothers annually, marking a significant step towards reducing the gender disparity. - read more
News image: Auditor Deregistered After Brite Advisers Collapse Auditor Deregistered After Brite Advisers Collapse
Mon, 30 Jun: The Australian Securities and Investments Commission (ASIC) has deregistered auditor David Makowa, previously of DM Advisory Services, due to his role in the downfall of financial advice firm Brite Advisers. This decision follows Makowa's acceptance of a court-enforceable undertaking in which he agreed to surrender his auditor registration permanently, pledging never to re-apply. - read more
News image: ClearView Names New Underwriting Head Amidst Strategic Changes ClearView Names New Underwriting Head Amidst Strategic Changes
Mon, 30 Jun: ASX-listed life insurer ClearView has announced the appointment of Peter Tilocca as Head of Underwriting, coinciding with key updates to its underwriting standards and definitions. Tilocca's extensive two-decade career in Australian underwriting includes leadership roles at Zurich, Noble Oak, One Path Life, and RGA Australia. His new role with ClearView commenced on 30 June. - read more
News image: Ombudsman Supports Theft Claimant in Home Business Coverage Dispute Ombudsman Supports Theft Claimant in Home Business Coverage Dispute
Mon, 30 Jun: A recent case has seen a policyholder triumph over her insurer after the Australian Financial Complaints Authority (AFCA) ruled in her favour following a contentious dispute regarding home business operations. The controversy arose when the woman's theft claim was denied by her insurance provider, IAG, over allegations of fraudulent misrepresentation about the use of her rental property. - read more
News image: Active Investing Resurges as a Shelter Against Market Volatility Active Investing Resurges as a Shelter Against Market Volatility
Thu, 26 Jun: Institutional investors and wealth managers across the globe, including in Australia, are increasingly adopting active investment strategies to fortify portfolios amid persistent economic and market turmoil. This trend has been highlighted in the 2025 Global Investor Insights Survey by Schroders, which captured insights from over 1,000 global respondents managing assets worth over US$67 trillion. The survey revealed that 80% of these investors are somewhat or significantly more inclined to expand their active management strategies over the next year. - read more
News image: AFCA Revisits SMSF Investor Classification AFCA Revisits SMSF Investor Classification
Thu, 26 Jun: The Australian Financial Complaints Authority (AFCA) is addressing ongoing confusion relating to the classification of self-managed super funds (SMSFs) as either retail or wholesale investors. Shail Singh of AFCA highlighted that this issue has been a focal point in various discussions, including their March member forum. The central question revolves around when an SMSF is eligible to lodge complaints with AFCA, which hinges on its classification under the prevailing laws. - read more
News image: WA Faces Housing Challenges Amid Rising Population WA Faces Housing Challenges Amid Rising Population
Thu, 26 Jun: In the latest Western Australia budget, Treasurer Rita Saffioti proposed measures totalling $1.4 billion to tackle the ongoing issues in the state's housing market. Although aimed at assuaging the pressures of rapidly increasing housing prices and a significant shortfall in rental properties, the response has been viewed as insufficient by critics. - read more
News image: AFCA Upholds Insurance Fraud Ruling Over Disputed Possum Accident AFCA Upholds Insurance Fraud Ruling Over Disputed Possum Accident
Thu, 26 Jun: A motorist's claim that he crashed into a tree to avoid a possum has been denied by the Australian Financial Complaints Authority (AFCA), which supported the insurer's fraud decision. The incident involved the driver crashing his Jeep—insured for over $20,000—on a dimly-lit street, purportedly avoiding the rain-soaked motorway en route to the store. - read more
News image: ETF Market Set to Reach $300 Billion Milestone Amid Shifting Investor Preferences ETF Market Set to Reach $300 Billion Milestone Amid Shifting Investor Preferences
Tue, 24 Jun: The Australian Exchange Traded Fund (ETF) market is experiencing a significant upsurge, with total assets under management (AUM) projected to reach $300 billion by the end of this year. This growth reflects a broader trend where investors are moving away from active management to embrace more cost-effective investment strategies. Analysts expect this momentum to continue, with the market potentially reaching $1 trillion by 2030. - read more
News image: Act Now: Key End of Financial Year Super Contribution Info Act Now: Key End of Financial Year Super Contribution Info
Tue, 24 Jun: As the end of the financial year looms, Australians, particularly high-income earners, should pay close attention to their superannuation contributions. With the June 30 deadline approaching, it's crucial to understand the timing involved in super contributions. Despite advancements in electronic transfers, delays can occur, potentially impacting your contributions' credit to the current tax year. June signals a time for strategic financial planning, including taking advantage of superannuation strategies for tax efficiency. - read more
News image: Victoria's Growing Debt Crisis: A Financial Balancing Act Victoria's Growing Debt Crisis: A Financial Balancing Act
Tue, 24 Jun: Victoria's financial health is deteriorating, with its net debt projected to skyrocket from $22.3 billion in 2015 to $194 billion by 2028-29. This staggering growth is matched by an increase in net debt per capita, which was under $3,600 at the start of the Labor government in 2015, but is forecasted to reach $25,500 by 2028-29. - read more
News image: Code Watchdog Criticises Insurer for Misleading Rejection Letters Code Watchdog Criticises Insurer for Misleading Rejection Letters
Tue, 24 Jun: The Life Code Compliance Committee has recently reprimanded a life insurance provider for issuing misleading rejection letters to policy applicants. These letters were deemed 'ambiguous and contradictory' and failed to clearly inform applicants of their review options after being denied coverage. - read more
News image: US Involvement in Israel-Iran Conflict Sparks Financial Market Concerns US Involvement in Israel-Iran Conflict Sparks Financial Market Concerns
Mon, 23 Jun: The escalating likelihood of the United States engaging militarily in the Israel-Iran conflict has raised alarm among investors, potentially leading to significant market volatility. This concern was highlighted by the global financial advisory firm, deVere Group, as tensions heighten in the Middle East. - read more
News image: Industry Groups Challenge APRA's Role in Board Appointments Industry Groups Challenge APRA's Role in Board Appointments
Mon, 23 Jun: The Australian Prudential Regulation Authority (APRA) faces increased scrutiny over its proposed involvement in appointing board members for significant financial institutions and superannuation boards. CPA Australia and CA-ANZ, leading accounting bodies, have requested details from APRA about whether it has historically participated in board appointment processes. - read more
News image: Global Markets Brace for Oil Price Surge Following US Strike on Iran Global Markets Brace for Oil Price Surge Following US Strike on Iran
Mon, 23 Jun: The recent US military attack on Iranian nuclear facilities has raised expectations of a significant oil price spike as global markets prepare to resume trading. Announced by former President Donald Trump, the attack marks an increased US involvement in the Middle East, which analysts believe could lead to heightened volatility across financial markets. - read more
News image: Insurer Ordered to Pay Full Claim for Confusing Patio Coverage Insurer Ordered to Pay Full Claim for Confusing Patio Coverage
Mon, 23 Jun: A recent ruling mandates that an insurer must fully honor a storm-related claim due to ambiguous policy wording regarding items in open areas. The Australian Financial Complaints Authority (AFCA) determined that the insurer's restriction on coverage for items in a patio area was unfounded, as the policy's phrasing was not clear. - read more