19/04/2021 - 06:45

Morning Headlines

19/04/2021 - 06:45

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Big four banks speed up home loan approvals

The big four banks have drastically reduced home loan approval times, which will support the booming residential property market, with the major lenders boasting of turnaround times of two days or less for simple mortgages. The Fin

Firm eyes listing or mine sale

EMR Capital insists interest in its WA mine in the Mid West remains strong — despite it looking at listing the asset on the Australian share market. The West

It’s possible to fly to NZ, then travel onwards

The trans-Tasman travel bubble will allow Australians to escape the Morrison government’s draconian ban on international travel and visit the rest of the world. The Fin

Financial council slams onerous FoFA laws

Onerous, overly prescriptive financial advice laws have pushed median fees up 16 per cent in a year to $3256 and must be wound back to stop the vast majority of the population being priced out of the market, the peak body for Australia’s $3 trillion financial services sector says. The Fin

‘Visa rejects’ used fake passports, dirty cash

Chinese migrants coming to Australia via ‘‘golden ticket’’ investor visas have sought to use gambling wins to meet a $5 million investment threshhold and have used fraudulently obtained secondary ‘‘passports of convenience’’ to bolster their applications. The Fin

Sole traders and micro firms are on the rise

Australia’s sole traders served as a “pilot light” for entrepreneurship during the height of the coronavirus crisis and helped drive the creation of new businesses during the pandemic, according to a new report. The West

Bank bosses call for clear crypto rules

Major bank leaders are keen for the federal government to develop a regulatory regime for bitcoin that recognises its underlying distributed ledger technology will play a more prominent role in financial services beyond crypto currencies. The Fin

Jehovah’s Witnesses facing tax turmoil

The Jehovah’s Witnesses have taken legal action against Australia’s charity watchdog after it revoked the organisation’s tax-exempt status over concerns with the religion’s opaque global donations structure and alleged failure to protect vulnerable people. The Aus

The Lib who came in from the cold

WA Liberal leader David Honey has recruited ex-premier Richard Court’s former right hand man — 22 years after he quit government in disgrace over outside business dealings. The West

WA regions upbeat on trade

Almost three in five regional businesses expect trading conditions to strengthen over the next 12 months, while only 16 per cent expect them to worsen. The West

 

 

The Australian Financial Review

Page 1: Onerous, overly prescriptive financial advice laws have pushed median fees up 16 per cent in a year to $3256 and must be wound back to stop the vast majority of the population being priced out of the market, the peak body for Australia’s $3 trillion financial services sector says.

AMP chairman Debra Hazelton has struck a bold plan to retain control over a $5 billion property fund, one of the crown jewels of the AMP Capital platform, and stave off its takeover by rival Dexus by cutting management fees by 75 per cent and selling $1.8 billion in assets.

Page 4: The trans-Tasman travel bubble will allow Australians to escape the Morrison government’s draconian ban on international travel and visit the rest of the world.

Page 5: Stir-crazy Australians are splashing out on tourism experiences as the coronavirus pandemic keeps international borders closed and leaves the threat of a lockdown.

Page 8: Chinese migrants coming to Australia via ‘‘golden ticket’’ investor visas have sought to use gambling wins to meet a $5 million investment threshhold and have used fraudulently obtained secondary ‘‘passports of convenience’’ to bolster their applications.

Page 9: Accountants have slammed banks for an ‘‘explosion’’ of requests to provide ‘‘capacity to repay’’ letters, as the financial services sector seeks to shift its credit risk amid the post-pandemic recovery and surging property market.

Page 14: The big four banks have drastically reduced home loan approval times, which will support the booming residential property market, with the major lenders boasting of turnaround times of two days or less for simple mortgages.

Page 18: Aussie Broadband’s mysterious, new ‘‘white label’’ home internet customer is Origin Energy, The Australian Financial Review can confirm.

Page 19: Major bank leaders are keen for the federal government to develop a regulatory regime for bitcoin that recognises its underlying distributed ledger technology will play a more prominent role in financial services beyond crypto currencies.

 

 

The Australian

Page 1: Australia’s special forces veterans who served in Afghanistan will retain their Meritorious Unit Citations unless convicted of war crimes or sacked for poor conduct.

Opposition resources spokeswoman Madeleine King has said Labor will not stand in the way of new mines and believes Australia will export coal beyond 2050, as the party moves to recast itself as a middle-ground option in the climate change wars.

Page 3: The Jehovah’s Witnesses have taken legal action against Australia’s charity watchdog after it revoked the organisation’s tax-exempt status over concerns with the religion’s opaque global donations structure and alleged failure to protect vulnerable people.

Page 14: Pepper Money is believed to be launching a management roadshow this week for its initial public offering, coinciding with the float of Latitude Financial on the Australian Securities Exchange.

Bank of Queensland has blamed poor service by Australia Post for some shareholders missing out on the opportunity to participate in the capital raising which funded the $1.35bn acquisition of ME Bank.

Page 16: Private equity-backed Bis Industries says it plans to push further beyond its traditional mining services offerings and into the longhaul trucking industry through a new partnership with Arizona tech company Edge3.

Australian business was growing in confidence about the outlook for the economy, according to Business Council of Australia president Tim Reed.

 

 

The West Australian

Page 4: Three staff members from Royal Perth Hospital are in quarantine after they were exposed to infection during the transfer of a COVID-19 positive captain taken from a bulk-carrier off the Pilbara.

Page 18: WA Liberal leader David Honey has recruited ex-premier Richard Court’s former right hand man — 22 years after he quit government in disgrace over outside business dealings.

WA artists will be paid to apply for a shot at a $25,000 grant and could get their childcare partly covered under a plan by Andrew and Nicola Forrest’s Minderoo Foundation to throw a lifeline to the State’s bruised arts sector.

Page 19: More than 81,000 prescriptions for antidepressants are being given to WA children every year — a number that has soared 61 per cent over the past four years.

Business: Women who choose to keep working from home post-COVID risk missing out on promotions and pay rises as men race back to the office in greater numbers, the head of Australia’s workplace equality agency has warned.

EMR Capital insists interest in its WA mine in the Mid West remains strong — despite it looking at listing the asset on the Australian share market.

Australia’s sole traders served as a “pilot light” for entrepreneurship during the height of the coronavirus crisis and helped drive the creation of new businesses during the pandemic, according to a new report.

Almost three in five regional businesses expect trading conditions to strengthen over the next 12 months, while only 16 per cent expect them to worsen.

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