24 October 2019
1300 794 893
Search
Search
Subscribe

6 things you need to know today

Switzer Daily
11 December 2017
  • ANZ has sold its life insurance and consumer credit business OnePath Life to international insurance giant Zurich for $2.85 billion. ANZ said the sale completes the “simplification” of its wealth division in Australia. The takeover will result in Zurich becoming Australia’s largest retail life insurer as measured by premiums, with more than 1.5 million customers, according to the Swiss insurer said. The transaction follows ANZ’s sale of its OnePath pensions and investments unit to IOOF Holdings in October for $975 million.
  • Retail Food Group's shares plunged more than 27% hitting a five-year low in the wake of a Fairfax Media investigation that revealed hundreds of Donut King, Brumby's and Gloria Jean's stores were going to the wall. The company's market value shed hundreds of millions of dollars on Monday as shareholders dumped their stock after claims that RFG charges franchisees with crippling costs and was driving a stable of brands into the ground.
  • Theres growing pressure to expel senator Sam Dastyari over his controversial ties to Chinese billionaire Huang Xiangmo. Opposition leader Bill Shorten could end the Sam Dastyari situation within days, amid the ongoing controversy about his own links to China and the billionaire.

  • Bitcoin has landed on Wall Street! Futures on the world's most popular cryptocurrency surged as much as 26% in their debut session on Cboe Global Markets' exchange. Initial volume exceeded dealers' expectations, while traffic on Cboe's website was so heavy that it caused delays and temporary outages. The website's problems had no impact on trading systems. Bitcoin's spot price rose.

  • Queensland's Liberal National Party (LNP) will choose on Tuesday from a trio of contenders vying to lead the party after its state election loss. The winning candidate will face the challenge of bouncing back from the worst election result for Queensland's main conservative force in more than two decades
  • Overnight, the Dow Jones index, rose 0.1% to 24,355, the S&P 500 gained 0.2% at 2,657, and the Nasdaq was up 0.4% at 6,867. In Europe, the FTSE was up 0.8% to 7,453, the German DAX was down 0.2% at 13,124. The Euro Stoxx 50 finished lower at 0.3% at 3,582. The ASX SPI 200 finished up 0.2% at 6,016 and the ASX 200 (Monday's close) closed higher 0.1% at 5,998.

If you liked this article you'll love the Switzer Report, our newsletter and website for trustees of self-managed super funds. Click here for a FREE trial and to hear more of Peter’s expert commentary and advice.

Let us know what you think
Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
Subscribe
1300 794 893
© 2006-2019 Switzer. All Rights Reserved
homephoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram