Thursday, November 8, 2018

Australians "slightly worse off" after ACCC approves Nine-Fairfax merger - chairman Rod Sims

Nine Enterainment's takeover of the Fairfax Media empire looks set to be consummated after the competition regulator said it would not oppose the $4 billion deal. 

But ACCC chairman Rod Sims says whiles its unlikely competition will be "substantially" reduced, Australians will probably be "a little worse off". 

Rod Sims speaks with ABC'S Peter Ryan.

Extreme weather could see insurance premiums rise, Australian Actuaries Climate Index warns

Residential property owners and businesses are likely to face higher insurance premiums after a new actuarial index warned about rising financial risks from extreme weather events. 

The Australian Actuaries Climate Index tracks risk factors such as elevated sea levels, drought, bushfires, cyclones, flooding and extreme temperatures as being more frequent as growing evidence of climate change mounts. 

Leading actuary speaks with ABC's Peter Ryan.

Monday, November 5, 2018

Westpac delivers "flat" profit as Royal Commission fallout bites

Westpac's full year profit has risen by one percent to $8.1 billion as it confront Royal Commission fallout and a customer remediation provision of $281 million. 

Chief executive Brian Hartzer has warned of headwinds including a "negative impact" on China is US-China trade tensions morph into a fully blown trade war. 

Here's my analysis from The World Today

APRA boss Wayne Byres gets new term as gov't braces for Royal Commission fallout

Australian Prudential Regulation Authority chairman Wayne Byres has been re-appointed for another five year term as the federal government prepares for the banking Royal Commission's final report in February. 

Treasurer Josh Frydenberg says $58.7 million will be pumped into APRA to bolster its enforcement capabilities. 

ABC's Peter Ryan says the Royal Commission resumes in a fortnight's time when banking chief executives will be grilled.