ANZ Chief Calls For An End To The Politics Of Banking

Mike Smith, chief executive of Australian banking major ANZ says the Australian economy is not being helped by politics and called for an end to criticism of the banking industry and a focus instead on helping the economy achieve long term growth.

Mr. Smith made his comments following months of intense criticism for politicians regarding rising mortgage interest rates in response to higher costs of funding.

Mr. Smith also expressed dissatisfaction with proposed new banking regulations that will be implemented worldwide, arguing that such stringent requirements come at the worst time for the global economy.

NAB Survey Says Moderate Improvements In Business Conditions

According to the results of a new survey, the twin cuts in interest rates by the Australian central bank has resulted in improved business sentiment.

The results of the National Australia Bank Business Survey suggest that business conditions improved in February, posting again of two index points following the previous two point gain which occurred in January.Confidence expressed by business rose by one point, and now stands at positive four points.

Suncorp May Send As Many As 2000 Jobs Overseas

The government of Queensland is calling for Suncorp to support local jobs as speculation mounts that the banking and insurance company is looking to send as many as 2000 jobs overseas.

Suncorp has already shipped 150 positions abroad, and is considering expanding its partnership with international vendors. The company says it is still undecided on the move.

ANZ Survey Shows Number Of Jobs Ads Increased

A new survey by Australian banking major ANZ suggest that the number of job advertisements jumped by their largest monthly rate since February 2010.

According to the ANZ job advertisement survey, the number of job advertisements placed in major newspapers and on the internet increased by 6.0 per cent in January. For the year ending January the growth was more moderate, posting a 0.7 per cent rise.

Westpac Likely To Cut Hundreds Of Jobs

Reports are suggesting that Australian banking major Westpac is embarking on a cost cutting program and is likely to announce cuts to its head count as soon as today.

According to the Sydney Morning Herald, Westpac is set to announce the cuts on Thursday afternoon, though the number of people that are affected is still not known, though other sources are speculating that the cuts could number in the hundreds.

NAB To Cease Credit Card Negative Payment Hierarchy

One of the worst features of credit cards is what is known as negative payment hierarchy. An example of this if the borrower undertakes a balance transfer to a zero balance account, the interest on the balance transfer is zero, whilst if the borrower uses the same card to make a new purchase, that purchase will attract interest.

Negative payment hierarchy is when credit card companies use any payment made to pay off debt which is accruing at low or zero interest, whilst the debt which carries higher interest continues to accrue charges at the higher rate.

RACQ Warns Australian Motorists To Watch The Price Of Petrol

“Cheap Tuesday” used to be the best day to fill the petrol tank, however that is now slowly changing with “savings Sunday” becoming the prime day to fill up the fuel tank.

For many years, Tuesday was the best day to top up one’s fuel tank, as a result of a fuel cycle set by companies. However the oil companies in a bid to maintain revenues began varying which day was the cheapest to obtain fuel, as they sought to keep consumers off balance.

Five Tips For Borrowing Using A Personal Loan

Personal loans can be amongst the cheapest way to borrow, but we can’t help but stress how important what the reason you are borrowing the money for.

If you are looking to finance a new flat screen television or go on holiday, or any other luxury, a personal loan is not your best option. Fortunately the financial crisis has made most people more aware of their finances and changed the way they think about borrowing.

Six Debt Myths Busted

Trying to pay off debt that has piled up can make borrowers feel very scared and vulnerable. Often those who find themselves struggling to pay off a mountain of debt end up fearful over what the future may hold, don’t know whom to turn to or what to do.That kind of insecurity is usually a result of inability to decide what to do and what the consequence of a particular course of action are.

Many people confuse fact with fiction when trying to decide how to solve their problems so in this post, we try separate truth from fiction.

Nine Credit Card Pitfalls

No matter how responsible you are when it comes to credit cards, they still come with a number of pitfalls. As soon as you navigate your way past one, yet another emerges. Here are 9 credit card pitfalls.

The Debt That Never Ends. The minimum payment on many credit cards barely meet the interest being incurred on your debt, which means if you only ever make the minimum, you’re debt will never reduce and seem to be endless. Occasionally a card will be offered with such a low minimum monthly payment, that your debt ends up actually growing.