Four judges appointed to the Federal Circuit Court of Australia (FCC).
The Federal Circuit Court of Australia has welcomed four new judges to its ranks, effective this month.
Patricia Cope, Meredith Dickson QC, Catherine Symons and Jonathan Forbes have been appointed as judges of the Federal Circuit Court of Australia (FCC). The new judges will join the Cairns, Adelaide and Melbourne registries as of this month and bring with them a plethora of legal experience and expertise. Read More
Commonwealth raises COVID-19 Disaster Payment to JobKeeper levels.
The Federal Government’s COVID-19 Disaster Payment will see eligible Australians receive financial support more in line with what was on offer through the now-defunct JobKeeper programme, following an upgrade of the emergency payments.
The government has upped support to eligible workers who will now receive $750 per week if they lose 20 hours or more of work due to state government lockdown restrictions, while those who lose between eight and less than 20 hours will receive $450 per week. The new level of payment for the top tranche of workers ($750 per week) is equivalent to what the Commonwealth previously offered through the JobKeeper programme. Read More.
US $160 billion in future GDP: the cloud imperative, and Asia Pacific’s unmissable economic and business opportunity.
The Asia Pacific region could benefit from a significant US$160 billion future economic boost – and that includes around $A20 billion for Australia – if businesses increase investment in, and take greater advantage of, cloud-based technologies.
A new Deloitte Asia Pacific report – The cloud imperative, and Asia Pacific’s unmissable opportunity – examines the challenges and barriers, explores opportunities and looks at case studies that examine how cloud is driving business success in difficult times. Read More.
Micro-investing booms in Australia.
Day traders and stock speculators may have stolen global headlines last year, but closer to home it’s the rise of the passive investor which is worth watching. Spaceship, which allows users to drip-feed savings into a range of diversified portfolios, is a prime example. The platform with no minimum investment has seen explosive growth in the last 12 months and now manages over $1 billion on behalf of nearly 200,000 Australians.
The multi-year bull market, fuelled by extraordinary stimulus, has no doubt helped lift all boats, funnelling hundreds of thousands of new investors into the market and fattening the returns of fund managers. But despite the temptation of picking the next ten-bagger, it’s curious to see plenty of Australians choosing a ‘safer’ route, with the number of users – be it in the form of super or the platform’s investment product – almost doubling since October. Read More.
Westpac to remediate customers $87m for financial advisor failures.
Customers of Westpac (ASX: WBC) whose financial advisors may have failed to notify them of ‘corporate actions’ will be remediated to the tune of approximately $87 million. The compensation comes after the bank’s financial advisors failed to let customers know about a range of activities by publicly listed companies, including buybacks, renounceable and non-renounceable rights issues, share purchase plans and takeovers.
The Australian Securities and Investments Commission (ASIC) says the failure to notify customers of these ‘corporate actions’ means customers may have missed out on various opportunities like purchasing additional shares at a discount, the creation of temporary rights or options that could have been sold for a profit, and the ability to sell shares to receive a benefit that may have been tax advantageous. Read More.
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