K62 Finance

Investor rate rises prompt owner-occupiers to switch

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Original article by Clancy Yeates
The Australian Financial Review – Page: 3 : 3-Sep-15

A growing number of home loan customers are alerting banks they have changed their status from investor to owner-occupier. While they had no incentive to do so before, banks are now charging investors higher interest rates for the first time since the 1990s. The industry says the trend may involve thousands of customers, complicating the compilation of official statistics.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence Consolidates

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Sep-15

ANZ-Roy Morgan Consumer Confidence rating for Australia rose by 0.3 per cent to 113.3 in the week ended 30 August 2015. This is the third consecutive week where confidence has remained above its long term average. Views on "economic conditions in the next five years" were up 1.8 per cent when compared with the previous week. The outlook for "economic conditions in the next year" fell 4.9 per cent, declining to the lowest level in eight weeks. Consumers’ views of their "financial situation in the next year" rose 3.9 per cent when compared with the previous week.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Landmark case could cost Visa $20m in fines

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Original article by Patrick Durkin
The Australian Financial Review – Page: 6 : 2-Sep-15

The Australian Competition & Consumer Commission (ACCC) has reached a confidential settlement with Visa. The company was accused of abusing its market power. The settlement will be considered for approval by Federal Court judge Michael Wigney on 3 September 2015. Penalties of up to $A20 million are believed to be sought by the ACCC.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA, VISA INTERNATIONAL, FEXCO INVESTMENTS AUSTRALIA PTY LTD, PURE COMMERCE PTY LTD, GLOBAL BLUE HOLDINGS AB, PLANET PAYMENTS, JP MORGAN AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, TRANSURBAN GROUP LIMITED – ASX TCL

Falling profits hit economy

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Original article by Jacob Greber, Vesna Poljak
The Australian Financial Review – Page: 1 : 1-Sep-15

Company profits fell 1.9 per cent in the three months to June 2015, the fifth straight quarter of profit declines, prompting analysts to conclude the Australian economy is shrinking for the first time since the election of the Abbott Government. Despite fears new concerns about the economy could weigh heavily on investor sentiment, Treasurer Joe Hockey insisted there were positive signs and that the prospect of tax reform and the China free-trade agreement would lift spirits.

CORPORATES
DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, BLOOMBERG FINANCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CITIGROUP PTY LTD, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX

ANZ-Roy Morgan Chinese Consumer Confidence Declined to a New Low

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-Aug-15

The ANZ-Roy Morgan China Consumer Confidence index fell by 2.5 points to 138.5 in August 2015, which is its lowest level on record. The number of respondents who said that their families are "better off" financially in August 2015 compared with the same time last year fell by 2.3 percentage points to 40.7 per cent. Meanwhile, the number of respondents who expect the Chinese economy to have "good times" in the next 12 months fell by 1.7 percentage points to 57.4 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Big business will have to pay for ASIC

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Original article by Patrick Durkin
The Australian Financial Review – Page: 1 : 28-Aug-15

The Australian Securities & Investments Commission would be funded by a user-pays system under a plan proposed by the Federal Government. Big business, banks and the financial services sector would carry the biggest burden under the plan, with a maximum levy of $A320,000 a year on companies with a market capitalisation of more than $A15 billion. A discussion paper to be released by Assistant Treasurer Josh Frydenberg sets a deadline of 9 October 2015 for submissions.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN BANKERS’ ASSOCIATION, ASX LIMITED – ASX ASX, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SUNCORP GROUP LIMITED – ASX SUN, WESTFIELD CORPORATION – ASX WFD, TRANSURBAN GROUP LIMITED – ASX TCL, AMP LIMITED – ASX AMP, BRAMBLES LIMITED – ASX BXB, AMCOR LIMITED – ASX AMC

Crowdfunding gathers impetus with investors

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 38 : 27-Aug-15

Property crowdfunding is still a novelty in Australia. In the US, $A1.42 billion has been raised for property investments. CrowdfundUp’s founder Jack Quiqley told a Property Council of Australia breakfast in Sydney on 26 August 2015 that property equity crowdfunding gives retail investors an opportunity to enter the property market with a small sum of money.

CORPORATES
CROWDFUNDUP PTY LTD, PROPERTY COUNCIL OF AUSTRALIA LIMITED, LESTER GROUP LIMITED, REA GROUP LIMITED – ASX REA

The top 20 postcodes at risk of mortgage default

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 3 : 27-Aug-15

Mortgage arrears are at below usual levels, according to Fitch Ratings. The worst performing suburbs are in low socioeconomic areas or in places reliant on single industries, such as tourism. With interest rates at record lows, the main reasons for falling behind in mortgage payments are loss of job, relationship breakup and unexpected expense. Budgewoi, on the Central Coast of New South Wales, was the worst postcode, Mackay in Queensland the worst region and Tasmania the worst state.

CORPORATES
FITCH RATINGS LIMITED

ANZ-Roy Morgan Australian Consumer Confidence – Virtually Unchanged at 113.0

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Aug-15

The ANZ-Roy Morgan Consumer Confidence rating for Australia fell by 0.2 per cent to 113.0 in the week ended 23 August 2015. This leaves confidence around its long run average and similar to levels seen a year ago (-0.4 per cent). The fall in confidence was driven by views on ”economic conditions in the next five years” (down 1.2 per cent), ”finances in the next year” (down one per cent), and ”finances compared to a year ago” (down 0.5 per cent). Increases were recorded in ”economic conditions in the next year” and ”time to purchase a household item”. In comparison to a year ago, consumers’ confidence about economic conditions looks bleak. Views on ”economic outlook for the next year” are down 5.4 per cent and views on ”economic conditions in the next five years” are down 2.6 per cent. This is consistent with the equity market, which is down over seven per cent from a year ago.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Big four banks mauled in bear market as capital rules bite

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Original article by Clancy Yeates
The Australian Financial Review – Page: 14 : 24-Aug-15

Shares in Australia’s major banks continue to be under pressure. Since the beginning of 2015, they have lost more than $A85 billion in their combined market value, or more than 20 per cent. Shares in the ANZ Banking Group declined 23.9 per cent from their April peak of $A37.25. Investors worry about the bank’s exposure to Asia and to Australian mining companies.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, CADENCE CAPITAL LIMITED – ASX CDT, BELL POTTER SECURITIES LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD