Australia's financial sector is yet again under the spotlight as Westpac finds itself embroiled in another scandal involving irresponsible lending practices. The bank's RAMS home loans subsidiary faces serious allegations by the Australian Securities and Investments Commission (ASIC) regarding improper loan approvals. - read more
Australians continue to exhibit cautious spending behaviours, as evidenced by a modest uptick in expenditure during April, notwithstanding consecutive long weekends and favourable economic conditions. Recent data from the Australian Bureau of Statistics (ABS) illustrates a 0.1% increase in household spending, following declines and tepid growth in the preceding months. - read more
The Star Casino is embroiled in legal difficulties after allegations emerged in a Federal Court involving their facilitation of risky financial transactions, including offering massive gambling credits to individuals known for money laundering. This follows financial watchdog AUSTRAC's pursuit of legal action against the casino. - read more
The Australian Securities and Investments Commission (ASIC) is fast-tracking its oversight of the private credit market, focusing on retail distribution amidst potential risks in the asset class. ASIC Commissioner Simone Constant disclosed that the regulator is prioritising this initiative in response to anticipated failures within the sector, as outlined in a discussion paper released earlier this year. - read more
The Australian Bureau of Statistics (ABS) recently highlighted the substantial contribution of international students to the economy, estimating education exports to be valued at $51 billion for the 2023-24 fiscal year. This figure underscores the economic significance of Australia's educational sector, as calculated by combining average spending estimates from Tourism Research Australia with students’ total course fee expenditures. - read more
Virgin Australia is poised to make a significant return to the Australian Securities Exchange (ASX) through an initial public offering (IPO) aimed at raising $685 million. Bain Capital, the US private equity firm that currently owns a substantial portion of the airline, is set to sell 30% of its stake at $2.90 a share. This sale values Virgin Australia at just over $2.3 billion, compared to rival Qantas, whose shares were trading at $10.70. - read more
Amidst ongoing economic challenges, a recent report from Colonial First State (CFS) highlights the urgent call for accessible financial advice in Australia. Surveying 2,250 Australians, CFS discovered that 82% of respondents believe financial guidance should be available to everyone. - read more
The Reserve Bank of Australia (RBA) is under the spotlight as financial markets largely anticipate a 70% probability of a rate cut during its next meeting in July. This potential adjustment, coupled with further cuts expected later in 2025, could see the official cash rate (OCR) drop to 3.10% by year-end. - read more
Investors in Australian Real Estate Investment Trusts (A-REITs) could witness a favourable shift in stock performance this year, thanks to declining inflation and interest rates rejuvenating the property market. This is according to Amy Pham, a portfolio manager with Pengana’s High Conviction Property Securities Fund, who anticipates A-REIT earnings to rise between 3% and 5% throughout the current calendar year. - read more
As Australians increasingly form new relationships in their later years, it is becoming crucial for these couples to engage in candid financial conversations. Many bring considerable assets into these relationships, including property and superannuation savings, which can be at risk without transparent discussions. Financial planner Trudy Jenkin from NGS Super emphasises that while these talks may not be romantic, they are vital for building a strong foundation and avoiding future financial disputes. - read more
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Financing a motorcycle in Australia can be a helpful option for individuals who want to own their own bike but may not have the immediate funds to do so. Motorcycle financing allows you to spread out the cost of the purchase over a period of time, making it more affordable and manageable. - read more
A sense of boundless excitement often accompanies the thought of buying your very first motorcycle. It's more than just a purchase; it's an entry pass to a lifestyle charged with freedom, wind in your hair, and the open road calling your name. The thrill of ownership however, comes with its fair share of responsibilities, chief among them being the financial commitment it demands. - read more
Whether you're an experienced rider or just starting your journey in the world of motorcycling, understanding the ins and outs of motorcycle financing is crucial. - read more
Motorcycle loans have become an essential financial tool for many Australians looking to hit the open road on two wheels. With a growing popularity of motorcycles, understanding the ins and outs of financing these vehicles is crucial. In Australia, there are various loan options available, each tailored to different needs and circumstances. - read more
Motorcycle loans have become an essential financial tool for many Australians looking to hit the open road on two wheels. With a growing popularity of motorcycles, understanding the ins and outs of financing these vehicles is crucial. In Australia, there are various loan options available, each tailored to different needs and circumstances. - read more
The wind in your hair, the roar of the engine, and the freedom of the open road – there's nothing quite like the thrill of owning your dream motorcycle. For many enthusiasts, it's not just a mode of transportation; it's a lifelong ambition, a symbol of adventure and independence. But unless you've been saving for years, the prohibitive cost could make this dream seem out of reach. - read more
When it comes to buying a new motorcycle, financing is often the most suitable solution for most people. There are two main options available: bike loans and personal loans. It's important to understand the key differences between the two to help you make an informed decision. - read more
Finding the freedom to explore the open roads atop a new motorcycle can be an exhilarating prospect. However, before you rev up those engines, understanding the financial gateway to securing a bike loan in Australia is essential. Preparation with the right documents can streamline your application process, setting you on the path to hassle-free approval. - read more
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Mortgage Insurance: Insurance that protects a lender in case a borrower defaults on their mortgage.
