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News NEWSLETTER | ECONOMIC AND MARKET UPDATES
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Maloneys financial services has taken the banking and finance oath
Patrick Maloney of Maloney Financial Services has taken the Banking and Financial Oath.
The Banking and Finance Oath was a project facilitated by The Ethics Centre (a registered charity) and is an industry-led initiative. In 2009, Clare Payne, in her role as Associate Director of the Integrity Office of Macquarie Bank and as a voluntary Consulting Fellow with the Ethics Centre, wrote to leaders of the Banking and Finance Industry at the CEO, Chair and Board level. Industry leaders were overwhelmingly interested in discussing the moral and ethics of the industry and had many ideas on how trust and confidence in the industry could be enhanced, and in some sectors restored. (This was taken from the BFO website, for more information please visit their website.)
The words to the Oath are as follows:
Trust is the foundation of my profession.
I will serve all interests in good faith.
I will compete with honour.
I will pursue my ends with ethical restraint.
I will help create a sustainable future.
I will help create a more just society.
I will speak out against wrongdoing and support others who do the same.
I will accept responsibility for my actions.
In these and all other matters;
My word is my bond.
Harvey Millington Financial services merger
After a 25+ year long friendship between Harvey Millington of Harvey Millington Financial Services and Patrick Maloney of Maloney Financial Services, the two have decided to a merger between their businesses.
The merger means that clients of Harvey Millington Financial Services now have access to the administrative support of the Maloney’s team, as well as access to Senior Financial Planner Mark Ishkanian and to Patrick Maloney himself. Through the
NEWSLETTER | ECONOMIC AND MARKET UPDATES |
Long-term negative rates have ‘adverse consequences’ we don’t fully understand, says Jamie Dimon
Negative interest rates have “adverse consequences which we do not fully understand,” Jamie Dimon, CEO of J.P. Morgan Chase, told CNBC-TV18 on Monday.
Yen Nee Lee |
China doubles value of infrastructure project approvals to stave off economic slowdown amid trade war
Sharp increase in infrastructure project approvals implies greater infrastructure spending in coming years, helping to stabilise China’s economy
Amanda Lee Published: 6:00am, 21 Oct, 2019
Paradigm Shifts
One of my investment principles is:
Identify the paradigm you’re in, examine if and how it is unsustainable, and visualize how the paradigm shift will transpire when that which is unsustainable stops.
by Ray Dalio, Co-Chief Investment Officer & Co-Chairman of Bridgewater Associates, L.P. | July 17, 2019
How to be prepared for inevitable stock market corrections
Sharemarkets can drift seemingly higher and higher without a hitch for many years, then one day due to sudden turbulence, markets will often ‘pop’ and correct. How can an investor be prepared for such unforeseen events?
By Anton Tagliaferro | 31 January 2019
S&P lifts rating outlook for Australia
Adrian Flores | 24 September 2018
RBA: Credit quality poses biggest risk to the economy
The central bank has warned that the greatest risk to Australia’s financial stability over the next few years will be the banks’ large exposure to potentially deteriorating home loans.
James Mitchell | 04 September 2018
FED SET TO HIKE WHILE ECB REMAINS CAUTIOUS
The US Federal Reserve is expected to increase its target interest rate by 25 basis points today, while the European Central Bank will continue its cautious approach to winding back stimulus, says Fidelity International.
BY TIM STEWART |
THE RISK AND RETURN TRADE-OFF
If you think that owning shares in each of the four big banks represents diversification and reduces the amount of investment risk in your portfolio, think again.
Simon Hoyle, Editorial, No More Practice Education | 18 May 2018
PLATINUM'S NEILSON BACKS URBANISATION THEME
As the rate of urbanisation rises in emerging market countries, so too will the demand for commodities such as metal, copper and energy, says Platinum Asset Management’s Kerr Neilson.
BY JESSICA YUN |
MORTGAGE RISKS HEIGHTENED BY ‘UNEXPECTEDLY LOW’ WAGE GROWTH
Many households could be paying off their mortgage for longer than they expected as a result of continually subdued income growth, the Reserve Bank of Australia has warned.
| Charbel Kadib
BUDGET 2018–19 RELEASED
The Budget 2018–19 has been released, with the Treasurer announcing a range of changes, tax cuts and new initiatives for the year ahead.
| Annie Kane
INTEREST-ONLY BORROWERS FACE $7,000 MORTGAGE HIKE: RBA
Borrowers approaching the expiry of their interest-only home loans period could be required to fork out an additional $7,000 a year, according to the Reserve Bank.
| Charbel Kadib
HOW MUCH DO YOU NEED TO FEEL FINANCIALLY FREE?
NAB has put a dollar figure on the magic number Australians think they need to "significantly improve their lives forever."
BY KANIKA SOOD | TUESDAY, 3 APR 2018
INDUSTRY REJECTS LABOR FRANKING CREDITS PROPOSAL
BY ALEKS VICKOVICH AND LUCY DEAN |
NPP TO BENEFIT SUPER MEMBERS: CBA
Near-instantaneous payments (NPPs) under the recently launched New Payments Platform will cut down the lag in employer superannuation payments, potentially saving members millions, according to the Commonwealth Bank of Australia (CBA).
BY STAFF REPORTER |
NEW LAW TO CRACK DOWN ON ‘PREDATORY’ CREDIT LENDING
The federal government has passed legislation designed to clamp down on unethical credit card practices and strengthen competition in banking.
Rate hike not on the cards any time soon: RBA
The central bank has reiterated its concerns over record high levels of household debt and said that it has no plans to lift rates in the near future.
SYDNEY PRICES TO FALL BY UP TO 10% THIS YEAR
A senior economist expects price falls in Sydney and Melbourne to continue after the latest CoreLogic figures found that capital city home values are gradually declining.
| Staff Reporter
ROYAL COMMISSION SUBMISSION TAKES AIM AT MORTGAGE LENDING
A submission to the Royal Commission into misconduct in the banking, superannuation and financial services industry has taken aim at “irresponsible lending”.
HIGH HOUSEHOLD DEBT COULD ‘DRAG’ ECONOMY
Elevated levels of household debt may trigger a slowdown in the Australian economy, says Moody’s Investor Service.
BY STAFF REPORTER |
A CHINA ANTHOLOGY
The numbers are breathtaking and the business opportunity is undeniable.
Posted by Dejan Pekic , Senior Financial Planner | 14 Dec 2017
AMERICA IS FULL
There is nothing in the November US labour numbers to stop the Fed from delivering its "promised" third rate hike finale for 2017 this week.
BY BENJAMIN ONG | MONDAY, 11 DEC 2017
WHICH BETA IS BETTER?
The importance of diversification for capturing the essence of infrastructure
Max Cappetta, CEO, Redpoint Investment Management | October 2017
SUPERANNUATION SAVINGS REACH $2.5 TRILLION
Australian's superannuation assets have hit $2.5 trillion for the first time, according to the latest APRA statistics.
BY EMMA RAPAPORT | FRIDAY, 24 NOV 2017 1:00PM
WHERE IN THE CYCLE IS AUSTRALIA?
"In the next 5000 kilometres, turn right."
BY BENJAMIN ONG | FRIDAY, 17 NOV 2017 11:05AM
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