Concerns over antipsychotics in aged care
Many people living with dementia in aged care facilities are taking antipsychotic drugs for longer than 200 days – more than twice as long as the maximum recommended time, researchers say. The Macquarie University study found about 38 per cent of Australian aged care residents with dementia were taking antipsychotic medication, the same as a…
ASX All Ordinaries closes at all-time high
The Australian share market has surged on hopes the US and China will reached a trade deal, with the All Ordinaries index hitting its highest closing price ever. The All Ordinaries closed up 49.9 points, or 0.73 per cent, to 6,862.4 point, ecliping its previous peak closing price of 6,853.6 set November 1, 2007. The…
APRA Proposes Stronger Requirements on Remuneration
The Australian Prudential Regulation Authority (APRA) has released a draft prudential standard aimed at clarifying and strengthening remuneration requirements in APRA-regulated entities. In a discussion paper released today for consultation, APRA has proposed creating a new prudential standard to better align remuneration frameworks with the long-term interests of entities and their stakeholders, including customers and…
APRA orders three banks to tighten funding
The prudential regulator has ordered Macquarie Bank, Rabobank and HSBC to tighten their funding arrangements to make sure funds cannot be withdrawn by their parent companies in the event of financial stress. The Australian Prudential Regulation Authority says the institutions must strengthen arrangements after discovering they were “improperly reporting the stability of the funding they…
Online job ad numbers fall for sixth month
The number of jobs advertised online dipped 0.6 per cent in June, marking a sixth consecutive month of falls recorded by the federal government’s Internet Vacancy Index. The numbers, released by the Department of Jobs and Small Business on Wednesday, indicated a drop of 1,100 ads from the previous month and a 6.7 per cent…
ASX rallies on US-China trade deal hopes
The Australian share market has surged amid renewed optimism about a possible US-Chinese trade deal. The benchmark S&P/ASX200 index was up 53.6 points, or 0.80 per cent, to 6,778.2 points at 1200 AEST on Wednesday, while the broader All Ordinaries was up 52.3 points, or 0.77 per cent, to 6,864.8 points. Telecommunications shares were leading…
Beach Energy beats FY production guidance
Beach Energy says a strong fourth quarter at its Western Flank site in South Australia will help it beat its full-year production guidance. The oil and gas explorer produced 6.97 million barrels of oil equivalent in the three months to June 30 to bring annual production to 29.39 mmboe, beating FY19 expectations of 28 mmboe…
Call for emissions reduction projects
Australian businesses and farmers are being urged to apply for the government’s latest round of emissions reduction projects, which could see them paid for reducing pollution. The Morrison government has pumped $2 billion into the Emissions Reduction Fund, while also renaming it the Climate Solutions Fund. The latest round of auctions opened on Wednesday, with…
IMF sees weaker global economy this year
The International Monetary Fund is downgrading its outlook for the world economy because of simmering international trade tensions. But at the same time, the fund is boosting its forecast for US economy this year, citing expectations that the Federal Reserve will cut interest rates. The IMF said on Tuesday that it expects the global economy…
Coalminers back Qld infrastructure fund
Two coalmining firms will back a regional infrastructure fund the Queensland government will establish instead of raising royalties. Treasurer Jackie Trad told mining businesses ahead of the June state budget she would not raise coal royalties for three years if they voluntarily tipped money into the $70 million fund. She told a budget estimates hearing…
