Greece to lift controls on domestic cash withdrawals
A limit on cash withdrawals imposed in 2015 when Greece risked leaving the eurozone will be lifted from next week, the finance ministry said Thursday.‘All forms of cash withdrawals from institutions in Greece are allowed without restriction as of October 1,’ the ministry said in a statement.However, restrictions remain on bank transfers abroad, with the…
James Hardie names successor for CEO Gries
James Hardie has picked president of international operations Jack Truong to succeed Louis Gries as chief executive. Dr Truong, who currently heads the firm’s Asia Pacific fibre cement business and the Europe building products unit, will become global president and chief operating officer for a six-month transition period as Mr Gries winds down his 13-year…
CommSec Daily Report Tuesday
Latest NewsLocal shares retreated in early trade on Tuesday, trading against the overnight trend on Wall Street overnight, where US indices advanced – albeit with modest gains. The general tone of markets overnight was constructive, reflecting optimism that the US and China may find a compromise to resolve their trade dispute, while investor concerns in…
CommSec Daily Report Tuesday
Latest NewsLocal shares have shrugged off a weak lead from global markets with lingering concerns over the weakness in the Turkish Lira and potential contagion, with financial instability spreading to other emerging market economies. The ASX 200 is rebounding from two straight losses, up 46 points or 0.75% towards lunch to 6298.Heavyweight sectors, the financials…
Australia still considering migration pact
Australia is still deciding whether to sign a global pact on migration but Prime Minister Malcolm Turnbull insists the nation’s borders will remain strong. More than 190 countries have agreed on a global compact to promote safe and orderly migration and reduce human smuggling and trafficking, but Australia is dragging its feet. ‘We’re examining that…
Phoenix hotline to catch dodgy operators
Shonky businesses that go bust then immediately start again under a new name can be reported on a new hotline. The Phoenix Hotline aims to protect workers and investors from companies that collapse under debts only to rise “like a phoenix from the ashes” under a new name. “Phoenixing hurts hard-working Australians, including the company’s…
Socially responsible investing
Few groups are as eager to align their investments with their values as philanthropists and not-for-profits (NFPs). These groups have been a key driver of ‘Socially Responsible Investing’ (SRI) which has emerged as a pragmatic and profitable investment framework.We’ve seen increased private-sector focus on the United Nations Sustainability Development Goals (SDG), as well as burgeoning…
Wesfarmers closes Homebase sale in UK
Wesfarmers’ short-lived and disastrous foray into the UK home improvement sector is over after the Perth-based conglomerate completed the sale of Homebase. The sale to UK-based turnaround specialist Hilco Capital, which was announced in May, will result in a loss of between GBP200 million and 230 million (between $352 million and $404 million) in Wesfarmers’…
CommSec Daily Report Wednesday
Latest newsThe Australian sharemarket has kicked off the day in negative territory, with the ASX 200 down 0.4 per cent, is back below 6000pts and near four-week lows partly on a political crisis in Italy. Almost every sector is losing ground and seven in 10 companies on the ASX are down.US markets tumbled by 1.5…
Bonus payments lift wages
Bonus payments lift wages; Consumers are OKConsumer sentiment; Wage Price IndexConsumer confidence: The Westpac/Melbourne Institute survey of consumer sentiment index fell by 0.6 per cent to 101.8 points in May. The index remain above its long-term average of 101.5 points. A reading above 100 points denotes optimism.Wages: The wage price index rose by 0.5 per…
