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In this blog, Michael Derks, chief strategist at global currency trading firm FxPro, explains why he is unimpressed by the Greek rescue package proposed by Brussels.
Banking | February 22nd, 2012 | Continue reading » 
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Any sigh of relief from the markets over the latest Greek bailout package is likely to prove short lived, writes Westpac’s chief interest rates strategist Russell Jones.
Banking | February 22nd, 2012 | Continue reading »
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Australians are set to derive significant savings from a key change in the Federal Government’s superannuation reforms which proposes to reunite almost 7 million inactive accounts with their owners.
Banking | February 22nd, 2012 | Continue reading »
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Suncorp Group has beaten consensus forecasts, reporting a 74 per cent increase its first-half profit to $389 million, up from $223 million in the prior corresponding period.
Banking | February 22nd, 2012 | Continue reading »
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Listed home loan broker, Mortgage Choice, today announced a cash profit of $6.5 million for the half-year to 31 December 2011, a 26.1 per cent decline on the prior corresponding period.
Banking | February 22nd, 2012 | Continue reading »
Americans choke on $1 coin stockpile
The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.
American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to the US government accountability office.
Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.
According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.
Comment: AB+F Blog
Two early for reform celebration: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]
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