Central bank chief Michele Bullock last night called for patience as policymakers try to come to grips with how the new US tariff regime might affect global demand and supply. “It will take some time to see how all of this plays out,” RBA Governor Bullock said in a speech in Melbourne. A growing number of Australians are ditching big pension funds and taking control of their retirement via self-managed super funds. Money invested in SMSFs hit a record A$1 trillion late last year, serving as a reminder to superannuation chiefs that they need to adapt to keep winning new customers. Swanston Street in downtown Melbourne. A growing number of Australians are ditching big pension funds. Photographer: James Bugg/Bloomberg Australia’s financial crime watchdog has revealed a A$750 million property splurge linked to international fugitives, showing just how attractive local real estate has become for the criminal set. Intelligence networks detected the one-week spree last year, Brendan Thomas, the chief executive officer of Austrac, said in an interview. Stock markets are a mess in the wake of Donald Trump’s trade war, following a tumultuous week that’s caused anxiety for investors across Australia. This week on the Bloomberg Australia Podcast, Chris Bourke and cross asset reporter Rich Henderson unpack the unprecedented market turmoil and ask: how does this all play out? Listen and follow The Bloomberg Australia Podcast on Apple, Spotify, on YouTube, or wherever you get your podcasts. Terminal clients: Run {NSUB AUPOD <GO>} on your desktop to subscribe. Anglo American said it’s still in talks with Peabody Energy Corp. to sell its coal portfolio for $3.78 billion, adding that a fire at its Australian operations hadn’t caused damage. Conditions in the mine “remain stable, with data and camera footage showing no evidence of damage,” the company said. |