Overhaul to boost super by $3.8bn
Overhaul to boost super by $3.8bn
Ridding the superannuation sector of persistently underperforming funds, clamping down on the proliferation of multiple accounts, and letting workers choose funds from a simple list of top performers would boost retirement savings by $3.8 billion a year, according to a landmark Productivity Commission review. The Aus
How the West got back on crop for bumper $6.5b harvest
WA grain growers are poised to deliver the State a massive economic stimulus of more than $6 billion on the back of soaring prices and a near-record harvest, it can be revealed. The West
Court fight looms over cows
Livestock Trading WA Pty Ltd has claimed in a Supreme Court writ that 115 cattle transported by Wheatbelt-based Southern Star did not arrive at Milly Milly and Beringarra stations. The West
SMSFs with less than $500,000 perform poorly
Self-managed superannuation funds with less than $500,000 perform ‘‘significantly worse’’ on average than regular funds, says the Productivity Commission. The Fin
Run continues for Ramelius
Shares in gold miner Ramelius Resources hit a five-month high yesterday after the company exceeded December quarter production guidance and flagged possible dividend payments. The West
BHP on track for Atlantis oil expansion
BHP is poised for more growth in its US petroleum business as its partner BP approved the construction of a $US1.3 billion ($1.8 billion) expansion of their lucrative Atlantis oil field in the Gulf of Mexico. The Fin
The Australian Financial Review
Page 1: Unions and employers would be turfed out of the $600 billion default superannuation system and control handed to an expert panel under Productivity Commission recommendations which would also stop the increase in the compulsory super guarantee until a new inquiry into the retirement income system.
Page 3: A slowdown in the world economy will soften anticipated federal revenues and may force the government to spend more to support Australia, stopping the Morrison government reaching its much-hyped return to a budget surplus next year, economists at Fitch Solutions have predicted.
Page 7: Self-managed superannuation funds with less than $500,000 perform ‘‘significantly worse’’ on average than regular funds, says the Productivity Commission.
Page 12: BHP is poised for more growth in its US petroleum business as its partner BP approved the construction of a $US1.3 billion ($1.8 billion) expansion of their lucrative Atlantis oil field in the Gulf of Mexico.
A marked split in performance by Australia’s two largest listed global fund managers during the second half of 2018 shows how exposure to the biggest investment themes can make or break returns.
Page 13: Australian buyout firm Quadrant Private Equity is preparing to test buyer appetite in the country’s biggest gyms business, Fitness and Lifestyle Group.
The Australian
Page 1: Diplomatic missions across Melbourne and Canberra were paralysed yesterday when hazardous material thought to include asbestos was sent to buildings in a co-ordinated attack
Ridding the superannuation sector of persistently underperforming funds, clamping down on the proliferation of multiple accounts, and letting workers choose funds from a simple list of top performers would boost retirement savings by $3.8 billion a year, according to a landmark Productivity Commission review.
Page 2: The great apartment building frenzy is over, with the number of new projects signed off by local councils dropping to the lowest level in five years.
Page 3: Clive Palmer’s business empire has been slapped with a $21 million lawsuit over its failure to repay the cost of a private jet used during the Palmer United Party’s political campaigns.
Page 13: The prudential and corporate regulators have been “missing in action” when it comes to cracking down on misconduct in the superannuation industry, the Productivity Commission says in a report on the sector to be released today.
The West Australian
Page 1: WA grain growers are poised to deliver the State a massive economic stimulus of more than $6 billion on the back of soaring prices and a near-record harvest, it can be revealed.
Page 2: Wildlife volunteers who come to the aid of sick animals will be slugged $250 for a licence and then a further $110 every year in the latest McGowan Government cash grab.
Business: Livestock Trading WA Pty Ltd has claimed in a Supreme Court writ that 115 cattle transported by Wheatbelt-based Southern Star did not arrive at Milly Milly and Beringarra stations.
The global iron ore industry remains highly profitable as top miners’ costs are far below current prices, according to Macquarie Wealth Management, which says the mantle of the “most valuable” business has shifted from Rio Tinto’s Pilbara to Vale’s pellet operations.
Shares in gold miner Ramelius Resources hit a five-month high yesterday after the company exceeded December quarter production guidance and flagged possible dividend payments.
Dacian Gold boss Rohan Williams believes the WA miner has made its own luck by hitting its target of declaring commercial production at the new Mt Morgans mine near Laverton as strong gold prices have given Australia’s mid-tier producers a healthy
