Australia's big four banks will be investigated after failing to pass on full interest rate cuts to consumers.
Australia's big four banks will be investigated after failing to pass on full interest rate cuts to consumers.\n\nTreasurer Josh Frydenberg has directed the Australian Competition and Consumer Commission to investigate the interest rate pricing of residential mortgages. \n\nThe banks will have to reveal their pricing practices after none of them passed on the most recent cut to customers in full but slashed interest rates for deposit holders. \n\nSmall banks and non-bank lenders will also be included after the sector ignored cuts made by the Reserve Bank. \n\nThe government has not ruled out policy changes or regulation, depending on the findings of the inquiry. \n\nImage: News Corp Australia
Australia's big four banks will be investigated after failing to pass on full interest rate cuts to consumers. Treasurer Josh Frydenberg has directed the Australian Competition and Consumer Commission to investigate the interest rate pricing of residential mortgages. The banks will have to reveal their pricing practices after none of them passed on the most recent cut to customers in full but slashed interest rates for deposit holders. Small banks and non-bank lenders will also be included after the sector ignored cuts made by the Reserve Bank. The government has not ruled out policy changes or regulation, depending on the findings of the inquiry. Image: News Corp AustraliaRead more: Sky News Australia
Why bother. It.s not like anyone was charged the last time. Why not just say naughty boy & give them another job. They've been doing it for years. I bet LiberalAus are only investigating cos they and their buddies have some bank loans. auspol BWAHAHAHAHAHAHAHAHAHA liberals investigating the banks? The liberals who voted against the royal commission 26 times want us to believe they would hold the banks accountable? The liberals work for the banks and against the Australian people
More tax money being spent, lets see the pathetic outcome, wanna bet? If you binge spend as Australia has been doing since Whitlam and build up hundreds of billions of dollars in govt and private debt, reserve bank is only one source of money supply. Rest comes from overseas. Of course it’s easier to blame the banks because the public likes it.
You are just headlines with no substance
Australia must 'help the US meet its need for critical minerals' | Sky News AustraliaResources Minister Matt Canavan says the government has been working with the US for a couple of years “to identify opportunities for Australia to help the US meet its need for critical minerals”.\n\nThe initiative comes as an attempt open up a concentrated rare minerals market, dominated by China, with the overall goal of “creating new industries and jobs for Australians,” he said.\n\nMr Canavan told Sky News President Donald Trump asked his government to establish a list of minerals critical to the US economy, and it was found that Australia has 14 of the 35 critical rare earths. \n\n'We are very lucky in Australia to have a great mineral industry, so we will do our best to establish these markets,' he said. \n\nImage: News Corp Australia When the Kids grow up mattjcan They will change the Law and you will be in court for your crimes against humanity and the environment. YOU ARE ON THE WRONG SIDE OF HISTORY Auspol hc_litrush The US has been coalescing its plan to isolate China for a while now. It's all coordinated. A very competent politician and interesting interview 👍
Govt releases fish kill response plan | Sky News AustraliaThe government will set aside $300,000 in an attempt to manage the worst mass fish kills.\n\nThe initiative is part of an emergency response plan developed after hundreds of thousands of native fish died in the Murray Darling basin.\n\nThe government will also use commonwealth environmental water to mitigate fish kill events and contribute to water monitoring programs to identify at-risk areas.\n Just stop giving water licences away and draining the rivers for irrigators. It's hard to imagine this having any impact at all. To manage FishKills politically, not environmentally by putting some water back in the bloody rivers.
Skalata seeks to help commercialise startups 'with great ideas' | Sky News AustraliaLittle Group Chairman Paul Little has launched a mentorship group for startup companies called Skalata 'to take people with great ideas and help them commercialise.'\n\nIt's typically an area that's fraught with danger and we think we could have real value there,' he said.\n\nSeed-funding in Australia has gone down by two-thirds in a year.\n\n'There was a lot of interest in startups two years ago... it is a danger from an investment point of view... not earning income, does not have the reputation and is a concept more than anything, ' Mr Little said.\n\nPaul Little led a management buyout of Toll holdings and grew it from an 18 truck operation to a transport and logistics enterprise worth more than $4 billion.\n\nImage: News Corp Australia Westpac Westpac Great job Paul. So many smart people out there with great ideas that are unable to get funding. The government R&D tax rebate is a nightmare and barely worth the paperwork for the smaller companies.
Royal Randwick rolls out the pink carpet ahead of the Everest | Sky News AustraliaRoyal Randwick rolled out the pink carpet this week for an afternoon of fashion, fun and fabulous food. RacingDreams is presented by TheStarSydney, ArrowfieldStud, Racing_nsw and BetEasy.
Study reveals London is the cocaine capital of Europe | Sky News AustraliaLondon is the cocaine capital of Europe after new tests revealed people in the capital are taking an average of 23kg of the A drug every day.\n\nMore than half a million doses of cocaine, with an estimated street value of £2.75m, are being consumed in London on average each day - twice the amount of any other European city, according to a study seen exclusively by Sky News.\n\nImage: Getty London’s not in Europe How many Calories in 23kg of Cocaine? Also where are these people getting the $12,000 per kilo 80% pure to buy 23kg everyday? 🇬🇧 UK 🇬🇧 must be a 'High High' society? Drug test everyone attempting to leave the 🇬🇧 UK 🇬🇧! No brains
US, China reach substantial 'phase one' trade deal | Sky News AustraliaUS President Donald Trump took a significant step forward to end the long-running trade war with China, announcing a substantial “phase one trade deal” with the country on Friday. \n\nThe countries came to an agreement on issues to do with intellectual property, financial services and agriculture, Mr Trump said. \n\n“We’ve come to a very substantial phase one deal... we're very happy with it.' \n\nTrump told reporters on Friday the deal will take roughly three to five weeks to be written realDonaldTrump realDonaldTrump GOOD BUSINESS?