Business

Bank dividends ‘simply unsustainable’: Perpetual’s Anthony Aboud

The dividends paid by Australia’s big banks are too high, and the most obvious response to a likely toughening in capital rules would be for banks to cut payouts to shareholders, Perpetual portfolio manager Anthony Aboud says. The Big Four’s record of paying juicy dividends has made them a hit with retail investors, but a new note from Mr Aboud argues the lenders are materially over-paying dividends ...

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young professionals living in vans to save money

Housing can be a major money suck. Take San Francisco, where the median rent for a one-bedroom apartment is about $3,500 a month. Prices in my home base, New York City, are just as egregious: $3,300 for a one-bed. A handful of professionals seem to have figured out a creative solution to this real estate conundrum: Rather than settling into ...

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Getting to know you: the robot assistant who can second-guess your every need

It’s here – a world in which helper robots live with us, get us through the day, and yes, become our trusted friend. Science fiction is becoming science fact. As sci-fi writer William Gibson has apparently noted: “The future is already here – it’s just not very evenly distributed.” The demand for helper robots is booming, and academia, industry and ...

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Virgin Australia to reduce capacity by 5%

Edited by Nelly Tawil The March quarter brought an $18.6 million underlying loss before tax for Virgin Australia who said it remained on track to post a profit for the full year. However Virgin now expects to report a total underlying profit before tax of $30 million to $60 million this financial year, after reporting an underlying profit before tax ...

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Warren Buffett:Low rates help business, hurt savers

Investment doyen Warren Buffet said ultra low interest rates around the world were great for the financial returns of companies, but he lamented how easy money policies of central banks “destroyed” pensioners and other savers. “With practically zero interest rates, American business is earning terrific returns on tangible equity,” Mr Buffett said. “They have not suffered even as people on ...

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Australian rental prices are dropping

Edited by Nelly T. Compared to a year earlier Australian capital city rental rates have dropped for the first time in at least two decades. Capital rents have fallen by 0.2% in the year to March according to the latest CoreLogic RP Data leaving the national average at $486 per week. Housing rents have fallen by 0.5% averaging at about ...

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Global Economy to Grow by 3% in 2016: OECD

The global economy will grow by 3 percent this year and 3.3 percent in 2017, according to the OECD’s latest Interim Economic Outlook. The world economy is likely to expand no faster in 2016 than in 2015, its slowest pace in five years, the organization said, adding that trade and investment are weak and a sluggish demand is leading to ...

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There are 300 million in circulation but why do you never see Australia’s $100 notes?

UST days ago it was mooted the future of the 5c coin, a piece of shrapnel which seems to magically multiply as soon as it hits your pocket, was looking bleak. But while we can’t move for 5c pieces, why do we never seem to see the cash at the other end of the spectrum? Where are all Australia’s $100 ...

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CBA trader the latest to lose job in messaging scandal

A Commonwealth Bank trader is the latest to lose his job as a result of an internal messaging scandal that has already seen a former ANZ senior trader sacked and suing the bank for unfair dismissal. In their defence to a $30 million unfair dismissal suit brought by former trader Etienne Alexiou, ANZ have detailed the explicit chats between Mr ...

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ANZ Bank has followed National Australia Bank in raising interest rates

ANZ Bank has followed National Australia Bank in raising interest rates for some of its business customers, also increasing rates on some lines of credit. Blaming higher funding costs and tougher regulation, ANZ is raising rates on various business overdraft and term loans by 0.21 percentage points. The move will affect small to medium businesses, and the actual rate customers ...

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