ASX closes flat; Miners surge, Costa sinks
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Alex Gluyas
A rally in bond prices has provided fund managers the opportunity to capitalise on a burst of interest in technology stocks before a pivot in central bank policy pushes yields higher, and instigates a rotation away from growth and into value, strategists say.
GSFM adviser Stephen Miller.
Andrew Quilty
The ongoing dovish commentary from the US Federal Reserve reiterating that inflationary pressures are transitory has supported a bounce back in tech stocks over the past week, but not necessarily a sustainable one.
“A concerted effort from key Federal Reserve speakers, who have sought to cast any inflation as transitory, appears to have worked, as bond yields have retreated from their highs and equity markets have ground out rallies,” said GSFM investment strategist, Stephen Miller.
The Australian sharemarket is poised to open higher following a rally on Wall Street on Friday; iron ore prices fall back below $US210 a tonne; Incitec Pivot profit tumbles on plant outages. Follow the latest here.
UDC Finance to refund borrowers after charging unreasonable fees
6 May, 2021 09:57 PM
3 minutes to read
UDC finance provides loans typically $10,000 or more for the purchase of motor vehicles. Photo / File
UDC finance provides loans typically $10,000 or more for the purchase of motor vehicles. Photo / File
NZ Herald
UDC Finance will refund borrowers after it was found to have charged unreasonable fees.
The finance company, which provided loans of typically $10,000 or more for the purchase of motor vehicles, reached a settlement deal with the Commerce Commission.
Between June 2015 and September 2016, UDC charged a $45 dishonour fee when a borrower failed to make a scheduled loan repayment. If the borrower remained in default seven days after the scheduled payment was missed, UDC then charged a late-payment fee. That late-payment fee varied between $45 and $73, from June 2015 to February 2021.
Dawn Picken: Why I believe multi-level marketing schemes are like cults
5 May, 2021 10:00 PM
4 minutes to read
Experts say MLMs are similar to pyramid schemes, writes Dawn Picken. Photo / Getty
Rotorua Daily Post
I think several of my friends have joined cults. These are not hippy types who wear robes and renounce material pleasures. Among my cult-indoctrinated peers are medical professionals, an accountant, several stay-at-home mums and an artist. They belong to different groups with a common theme: many members fail.
Multi-level marketing schemes, or MLMs, are using Covid to grow, according to a variety of publications, including The New York Times, Time Magazine and The Atlantic.
After calls from New Zealand regulator to improve transparency around costs and data usage.
March 8, 2021 23:58 GMT (15:58 PST) | Topic: Telcos
New Zealand s major telcos have committed to providing more information and tools to support consumer choice before the end of the year.
The telcos 2degrees, Spark, and Vodafone reached the commitment following calls from the New Zealand Commerce Commission (ComCom) in September to address transparency and inertia issues regarding retail service quality.
In that same call, ComCom also asked the New Zealand telco industry to begin work on what could eventually become a consumer data right (CDR).
ComCom requested that the telcos take steps to address these issues after amendments were made to the Telecommunications Act in 2018, which gave the commission powers to improve retail service quality, including customer service, faults, installation, co