Category: Business
Oil prices hit a six-month low due to a bleak economic outlook and an abundance of U.S. supply.
Oil prices reached six-month lows on Thursday amid concerns over sluggish energy demand in the United States and China, coupled with sustained high output levels from the U.S. Brent crude futures experienced a 25-cent decline, reaching $74.05 per barrel, while U.S. West Texas Intermediate crude futures saw a 4-cent drop, settling at $69.34. These figures represent the lowest prices for both benchmarks since late June. The start of the week witnessed front-month Brent prices trading at a[more...]
Superannuation funds and banks are gearing up to provide an increased range of financial advice shortly.
Australians are set to have more accessible basic personal financial advice through federal government reforms, with super funds, banks, and insurers expected to play a larger role. The overhaul of financial advice regulations aims to reduce the cost of straightforward financial guidance, especially benefiting the approximately five million Australians nearing retirement. The reforms will introduce a new category of advisers qualified to assist individuals with fundamental aspects, such as pension eligibility. These advisers are likely to be[more...]
The PwC partner at the heart of the tax advice scandal has been handed an eight-year ban by ASIC.
Australia's financial watchdog, ASIC, has imposed an eight-year ban on a former PwC partner who was at the center of a confidentiality scandal, which had severe repercussions for the firm, including a damaging reputation crisis and a costly sell-off. The individual in question, Peter John Collins of Sandringham in Victoria, faced allegations of sharing confidential government information concerning multinational tax avoidance with his colleagues. Eight years ago, Collins had been advising the Treasury on draft laws aimed[more...]
