Financial advice gap to remain despite government’s efforts to plug it

Save articles for later Add articles to your saved list and come back to them any time. The number of financial planners in Australia appears to have stabilised at almost 16,000, following a decline of about 12,000 since 2019’s peak, but changes underway by the federal government may only be partially successful in plugging the […]

U.S. New Home Sales Pull Back More Than Expected In October

The Commerce Department released a report on Monday showing new home sales in U.S. pulled back sharply in the month of October after soaring in September. The report said new home sales plunged by 5.6 percent to an annual rate of 679,000 in October after spiking by 8.6 percent to a downwardly revised rate of […]

U.S. Consumer Sentiment Deteriorates Less Than Previously Estimated In November

Consumer sentiment in the U.S. deteriorated by less than previously estimated in the month of November, according to revised data released by the University of Michigan on Wednesday. The University of Michigan said its consumer sentiment index for November was upwardly revised to 61.3 from a preliminary reading of 60.4. The upwardly revised reading is […]

Virgin Money UK FY23 Underlying Profit Declines; Announces Share Buyback

Virgin Money UK PLC (VMUK.L) reported fiscal 2023 statutory profit on ordinary activities before tax of 345 million pounds, down 42% from last year. Earnings per share was 13.9 pence compared to 32.3 pence. Underlying profit on ordinary activities before tax was 593 million pounds, down 24%. Underlying basic earnings per share was 27.4 pence […]

U.S. Retail Sales Edge Down 0.1% In October, Less Than Expected

A report released by the Commerce Department on Wednesday showed retail sales in the U.S. edged slightly lower in the month of October. The Commerce Department said retail sales slipped by 0.1 percent in October after advancing by an upwardly revised 0.9 percent in September. Economists had expected retail sales to dip by 0.3 percent […]

Eurozone Economy To Undergo Moderate Recovery After Challenging Year: EU

The euro area economy is expected to recover only moderately after a challenging year during which growth was damped by weak consumption and subdued foreign demand, the European Commission said in its Autumn Economic Forecast, released Wednesday. The EU forecast the 20-nation currency bloc to grow by a modest 0.6 percent in 2023, which is […]

With homeownership unreachable, Gen Z are putting their money in shares

Save articles for later Add articles to your saved list and come back to them any time. Younger, Gen Z investors are continuing to enter the stock market at a record pace thanks to a raft of easy to understand trading options, prompting warnings from finance veterans on the importance of taking time to research […]

China’s rich are using total strangers to sneak cash out of the country

Save articles for later Add articles to your saved list and come back to them any time. Imagine trusting your life savings to a group of strangers you know only via WhatsApp. Some affluent Chinese people are willing to make that gamble to get part of their wealth out of the mainland. Take 32-year-old Phoebe, […]