Global insurers are continuing to count the cost from the recent bushfires crisis in Australia while calculating the risk of future climate related catastrophes.
One of the world's biggest insurance consultants AON says the bushfires represent Australia's fifth biggest insurance loss in twenty years.
Peter Cheesman, AON's head of Asia Pacific analytics tells me the recent Australian economic losses of US$5 billion are enhanced by changing climate conditions that trigger extreme weather events.
Friday, February 14, 2020
Thursday, February 13, 2020
Could universal aged pension be answer to complex retirement system? Mercer Consulting partner David Knox wants means testing scrapped
Mercer Consulting has proposed a universal aged pension that would see the currently complex system of means testing wealth and assets scrapped.
The submission comes as the Federal Government's retirement system review gets under way.
Mercer Consulting senior partner David Knox tells ABC's Peter Ryan, a universal "pension for all" would stop retirees from using complex scheme to ensure they are eligible for the aged pension.
The submission comes as the Federal Government's retirement system review gets under way.
Mercer Consulting senior partner David Knox tells ABC's Peter Ryan, a universal "pension for all" would stop retirees from using complex scheme to ensure they are eligible for the aged pension.
Wednesday, February 12, 2020
Coronavirus spread looms as a risk for Commonwealth Bank as profit falls. I speak with CBA boss Matt Comyn.
The spread of the coronavirus is now is significant economic risk on the radar of the Commonwealth Bank.
The CBA's chief executive Matt Comyn expects the coronavirus impact will contribute to a negative quarter of economic growth for the first three months of this year. Mr Comyn also says climate risk is now factored into the bank's decisions including fossil fuel investments.
The two headwinds of bushfires and coronavirus come as the Commonwealth Bank posted a four percent fall in half year cash profit to $4.47 billion.
Matt Comyn spoke with ABC's Peter Ryan.
The CBA's chief executive Matt Comyn expects the coronavirus impact will contribute to a negative quarter of economic growth for the first three months of this year. Mr Comyn also says climate risk is now factored into the bank's decisions including fossil fuel investments.
The two headwinds of bushfires and coronavirus come as the Commonwealth Bank posted a four percent fall in half year cash profit to $4.47 billion.
Matt Comyn spoke with ABC's Peter Ryan.
Tuesday, February 11, 2020
JB Hi Fi boss Richard Murray shrugs off coronavirus fears but worries about aggressive interest rate cuts
The electronics retailer JB Hi Fi has shrugged off fears about any immediate impact from the coronavis and is defying forecasts about a "retail recession" in Australia.
The company has posted a nine percent surge in half year profit to $174 million with sales in the same period up four percent to $4 billion.
But JB Hi Fi chief executive Richard Murray worries that dramatic interest rate cuts by the Reserve Bank might be sending the wrong message to consumers - and eroding confidence rather than boosting it.
I spoke with Richard Murray on this morning's AM program
The company has posted a nine percent surge in half year profit to $174 million with sales in the same period up four percent to $4 billion.
But JB Hi Fi chief executive Richard Murray worries that dramatic interest rate cuts by the Reserve Bank might be sending the wrong message to consumers - and eroding confidence rather than boosting it.
I spoke with Richard Murray on this morning's AM program
Subscribe to:
Posts (Atom)