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5 things you need to know today

  • Annastacia Palaszczuk’s government is likely to win up to 48 seats in Queensland, giving it a slim majority, according to ABC election analyst Antony Green. The LNP is predicted to win 39 or 40 seats. One Nation and the Greens are predicted to win one seat each, Katter's Australia Party two, and one independent.
  • Australians are estimated to have spent more than $200 million on Black Friday, particularly on fashion and holidays. Australian Black Friday sales volume were up 16% on last year, according to global discount code platform CupoNation data. Australian shoppers were started shopping on Black Friday in early hours of the day. There was a first peak between 6am and 8am and another more pronounced spike between 3pm and 5pm.
  • Australia's mutual lenders expanded their assets and deposits by about 10% in 2017, as more customers moved away from the major banks, according to KPMG's annual review into the mutuals industry made up by credit unions, building societies and mutual banks.  KPMG's survey of 52 lenders in the sector found that the top 10 mutual lenders lifted their combined assets by 11%, strongly outperforming the major banks that increased assets by 1.5%.
  • AMP Bank is lifting a 10-month ban on refinancing investment property loans and reducing deposits. Less pressure on regulator-imposed "speed limits" and borrowing caps are enabling it to ease lending restrictions. "The lending market remains very competitive and AMP Bank continues to respond by adapting its lending practices where necessary to provide the best conditions for our customers and for managing our growth," a bank spokesman said. It is decreasing deposits for self-managed super fund loans from 50% to 30% of the loan.

 

 

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Published on: Monday, November 27, 2017


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