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News: Money

Cosmetics are the saviour for retailers

Friday  15:30,   22 june 2018

In this insta-famous era, cosmetics and grooming are imperative . People really do not leave the house without a fully made up face and the lippy.And it's big business, with make-up generating sales of close to $5 billion a year. This is having a[...]

Investor lending falls almost $100 billion in 12 months as property market softens

Friday  11:55,   22 june 2018

The steady strangulation of investors in the property market has intensified with the outstanding value of interest-only loans falling by almost $100 billion over the past year. The Australian Prudential Regulation Authority's (APRA)[...]

YouTube pushes memberships, merchandise as alternatives to ads

Friday  11:10,   22 june 2018

<p>YouTube said on Thursday that video uploaders with more than 100,000 followers could start paid fan clubs on the service, one of several new features aimed at helping itself and its users diversify revenue after a turbulent year.</p>The[...]

The Productivity Commission is investigating the economics of Australia's airport monopolies

Friday  08:30,   22 june 2018

Treasurer Scott Morrison has announced the terms of reference for the Productivity Commission's (PC) highly anticipated inquiry into the regulation of airport services. The review comes as airlines wage an ongoing campaign against what they[...]

Banking royal commission: His $22m family farm was sold off, but his voice won't be heard

Friday  08:06,   22 june 2018

If things were different, Bill Mott would not be in Melbourne, trying to speak at the royal commission.&nbsp;Instead, he's walking through a whipping Victorian wind to the hearings of the banking royal commission, divorced, his children spread[...]

Music retailer Allans Billy Hyde collapses, with administrators blaming a “tough retail market”

Friday  07:56,   22 june 2018

Australian music retailer Allans Billy Hyde has entered voluntary administration this morning after a string of recent store closures , with administrators Ferrier Hodgson blaming the closure on overall poor retail conditions.Both Allans Billy Hyde[...]

The possible impacts of Labor’s proposed negative gearing and CGT changes

Friday  07:56,   22 june 2018

With a federal election expected to be called within the next 12 months, and Labor proposing some controversial reforms to negative gearing and the capital gains tax discount, a new report has assessed the risks of taking a blanket approach to[...]

Intel Ousts CEO Krzanich After Relationship With Employee

Friday  07:56,   22 june 2018

Intel Corp. removed Brian Krzanich as chief executive officer after the chipmaker learned he had a consensual relationship with an employee, a violation of the company’s policies. Chief Financial Officer Robert Swan was made interim CEO while the[...]

Atlas Iron recommends shareholders back Rinehart's offer

Friday  07:35,   22 june 2018

Atlas Iron says Gina Rinehart’s all-cash, $390 million offer for the company is superior to an earlier bid from Mineral Resources.Atlas also formally withdrew its earlier backing of a scheme of arrangement with Mineral[...]

Australia's ANZ doubles buyback programme to about $2.2 billion

Friday  07:06,   22 june 2018

Australia and New Zealand Banking Group Ltd (ANZ.AX) said on Friday it would increase its current on-market share buyback programme by a further A$1.5 billion to a total of A$3 billion ($2.2 billion). ANZ said last month it would increase the[...]

Consumers up in arms about “almost criminal” conditions placed on collapsed Toys ‘R’ Us gift cards

Friday  06:31,   22 june 2018

As administrators start the process of closing Toys 'R' Us stores across Australia, customers have been told gift cards will be honoured until July 5, but with the condition that they spend an additional equivalent amount in store.Customers[...]

The Australian dollar's losing streak is over

Friday  06:05,   22 june 2018

The Australian dollar operated in a thin trading range on Thursday, recovering from earlier losses to close modestly in the black. Here's the scoreboard as at 7.45am[...]

'No gas supply shortage forecast,' energy operator says

Friday  05:55,   22 june 2018

An energy market report says gas producers commitment to more domestic gas supplies after government threats to slash export levels means there will be no gas shortages before 2030.The Australian Energy Market Operator’s 2018 gas outlook for the[...]

Financial markets are losing faith in RBA rate hikes

Friday  05:31,   22 june 2018

It's been nearly two years since the Reserve Bank of Australia (RBA) last moved official interest rates, and when you're talking about rate hikes, you have to go back nearly eight years ago. As seen in the chart below from Westpac, financial [...]

Mixed support for Telstra's new vision

Friday  05:06,   22 june 2018

A Morningstar analyst has described Telstra's drastic cost-cutting plan as "bold but necessary".Telstra's job purge has been criticised by unions but an analyst says the telco's shock move to slash 8,000 jobs is needed to bring labour[...]