ANZ Banking Group has turned its focus to growing its mortgage market share in Australia... Opposition seeks safeguards on China Free Trade Deal...
ANZ to embark on mortgage push in Australia
ANZ Banking Group has turned its focus to growing its mortgage market share in Australia, after many years raising growth opportunities in Asia, the Sydney Morning Herald reports.
NSW will be particularly on its radar even in light of the Australian Prudential Regulation Authority restrictions on lending to property investors.
ANZ's new chief Shayne Elliott said the shift in focus comes as the bank had been outperformed by the Commonwealth Bank, National Australia Bank, Westpac and its subsidiary St George.
"We have the most diverse book of all the four banks and have the least weighting towards mortgages and we can afford to grow it. And we want to grow it, because it's an attractive business, and a great business for customers, an anchor relationship.
"We are not a hedge fund and we are not here to make bets on asset classes and geographies. What we are here to do is build a business that survives, grows and generates a decent return irrespective of the cycle."
Elliott will take over from Mike Smith on January 1.
Opposition seeks safeguards on China Free Trade Deal
(Bloomberg) -- Opposition lawmakers in Australia will propose additional measures to assuage concerns that the free- trade accord with China goes too far in opening up the labor market.
The coalition government concluded an agreement with the country’s biggest trading partner last November and the deal is still being reviewed by legislators. Penny Wong, who leads the opposition in the upper house of parliament, said her side will be proposing “complementary safeguards” on jobs when the matter is debated in the coming week.
“We’re long-standing supporters of a stronger deeper economic and political relationship with China, but the government has gone further in this agreement than in other trade agreements when it comes to opening up the labor market,” the Labor Party senator said in an interview with the Australian Broadcasting Corp. on Sunday. “The complementary safeguards that we’ll put forward, they won’t require renegotiation of the agreement.”
The China free-trade agreement is part of a series of trade deals that has been concluded by the coalition since it came to office in 2013. In addition to making bilateral deals with China, Japan and South Korea, it last week joined 11 other national governments to agree on the Trans-Pacific Partnership.
Trade Minister Andrew Robb said in an interview with Sky News on Sunday that he’s happy to talk about “anything that might assist this process, but we’re not going to discriminate against China and we’re not going to change the fundamentals in any way.”
He said that earlier discussions on the topic included a “huge wishlist” from the opposition and that they were seeking to use the FTA as an opportunity to change the country’s migration laws more broadly.
“If they wanted to change it they could have done so when they were in office,” he said. “But if they’ve got something sensible which gives them comfort, and we can do it, certainly we’ll talk to them about it, but we haven’t seen that yet.”
ANZ Banking Group has turned its focus to growing its mortgage market share in Australia, after many years raising growth opportunities in Asia, the Sydney Morning Herald reports.
NSW will be particularly on its radar even in light of the Australian Prudential Regulation Authority restrictions on lending to property investors.
ANZ's new chief Shayne Elliott said the shift in focus comes as the bank had been outperformed by the Commonwealth Bank, National Australia Bank, Westpac and its subsidiary St George.
"We have the most diverse book of all the four banks and have the least weighting towards mortgages and we can afford to grow it. And we want to grow it, because it's an attractive business, and a great business for customers, an anchor relationship.
"We are not a hedge fund and we are not here to make bets on asset classes and geographies. What we are here to do is build a business that survives, grows and generates a decent return irrespective of the cycle."
Elliott will take over from Mike Smith on January 1.
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Leading marketing coach Doren Aldana describes the most common marketing mistake mortgage brokers make
Leading marketing coach Doren Aldana describes the most common marketing mistake mortgage brokers make
Opposition seeks safeguards on China Free Trade Deal
(Bloomberg) -- Opposition lawmakers in Australia will propose additional measures to assuage concerns that the free- trade accord with China goes too far in opening up the labor market.
The coalition government concluded an agreement with the country’s biggest trading partner last November and the deal is still being reviewed by legislators. Penny Wong, who leads the opposition in the upper house of parliament, said her side will be proposing “complementary safeguards” on jobs when the matter is debated in the coming week.
“We’re long-standing supporters of a stronger deeper economic and political relationship with China, but the government has gone further in this agreement than in other trade agreements when it comes to opening up the labor market,” the Labor Party senator said in an interview with the Australian Broadcasting Corp. on Sunday. “The complementary safeguards that we’ll put forward, they won’t require renegotiation of the agreement.”
The China free-trade agreement is part of a series of trade deals that has been concluded by the coalition since it came to office in 2013. In addition to making bilateral deals with China, Japan and South Korea, it last week joined 11 other national governments to agree on the Trans-Pacific Partnership.
Trade Minister Andrew Robb said in an interview with Sky News on Sunday that he’s happy to talk about “anything that might assist this process, but we’re not going to discriminate against China and we’re not going to change the fundamentals in any way.”
He said that earlier discussions on the topic included a “huge wishlist” from the opposition and that they were seeking to use the FTA as an opportunity to change the country’s migration laws more broadly.
“If they wanted to change it they could have done so when they were in office,” he said. “But if they’ve got something sensible which gives them comfort, and we can do it, certainly we’ll talk to them about it, but we haven’t seen that yet.”
In depth: Broker-to-broker advice: Breathe
What do vegetables, seven hours’ sleep and strength training have to do with broking? Everything.
What do vegetables, seven hours’ sleep and strength training have to do with broking? Everything.
