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05 May 2020 • By Lachlan Maddock • 1 min read

US debt explodes

The US will take on trillions in debt to subsidise its stimulus packages in the worst blowout since the GFC. The US Treasury will borrow US$2.999 ...

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CBA to temporarily shutter 115 branches

Commonwealth Bank has indicated it will be temporarily closing up shop across 115 branches, with 500 staff to be moved across to the major’s bank’s ...

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Big four bank quits coal

One of Australia’s biggest banks has announced it will divest from thermal coal by 2030 in what is being hailed as “another nail in the coffin” for ...

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IMB Bank completes merger with credit union

IMB Bank has completed its merger with a Newcastle-headquartered credit union, after the prudential regulator gave the deal the green light

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Pandemic drags women’s financial progress

A quarterly scorecard for women’s financial progress has recorded its weakest start to a calendar year since 2015, as job cuts start to pile on amid ...

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Chinese tech giant buys stake in Aussie fintech

A Chinese tech conglomerate has become a substantial holder in one of Australia’s most famous fintechs. Tencent has bought a 5 per cent equity ...

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Unemployment could already be higher than 15%

New research shows that unemployment could be worse than official estimates, while job ads saw their worst month since the GFC. Roy Morgan found ...

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Cash rate movements uncertain amid pandemic

Close to nine in 10 economists have said they do not think international travel will restart until next year, with many being unsure amid the ...

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‘A once-in-a-lifetime event’

Australia’s most troubled bank has revealed plummeting profits amid a shake-up in its wealth business and ongoing negotiations with the financial ...

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APRA reveals first early super data

APRA has revealed key data on the early super release scheme and vowed to take action on funds that don’t toe the line. Super trustees have now ...

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