Australia’s Capitalist Finance Sector: Deception, Exploitation and Misdirection of Financial Resources
by Trotskyist Platform / May 11th, 2021
In recent years, the ripping off of customers, deceit and even outright fraud practiced by Australian finance sector businesses has gained much attention. Four years ago it was revealed how CommInsure, the insurance arm of the Commonwealth Bank of Australia (CBA), had refused to make promised life insurance payments to heart attack survivors. They “justified” this by using a definition of a heart attack that was so dodgy that even some people who had
such a severe heart attack that they had to be resuscitated were denied their entitled pay outs! Such devious practices have been undertaken by finance sector enterprises big and small – from the big four banks and insurance giants to brokers and loan enablers and to retail businesses that hand out loans. As a result the banks, insurance companies and the brokers and others connected t
Frost, wind, a pink moon and summer warmth in the cards | News, Sports, Jobs
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Waynesboro Record Herald
Franklin County and parts of central Pennsylvania are still digging out from the winter storm that dropped an average of 1.5 feet of snow in the Cumberland Valley.
According to Barry Lambert, a meteorologist with the National Weather Service in State College, Waynesboro received 12.9 inches of snow while Greencastle, just down Route 16, topped out at 14 inches.
Other locations in the area reporting significant snow totals are Fort Ritchie, Maryland, with 24.8 inches of snow, Shippensburg with 15.2, Newville with 16.3 and Carlisle with 11.4 inches of accumulation.
“Snowfall started Sunday morning around daybreak and it lingered until early Wednesday,” Lambert said. “It was a three-day storm and having that is very unusual. Most storms don’t last that long they usually wrap up in about 18 hours. Having this one last over 72 hours is about a once-in-a-decade type of event.”
ASX rises 1pc as private equity moves on Bingo
Share
Australian shares gained more than 1 per cent on Tuesday, more than recovering the previous session s losses, dominated by surging interest in private equity takeover target Bingo Industries.
The S&P/ASX 200 Index added 79.6 points to 6,742.6. The All Ordinaries advanced 1.15 per cent to 7,015.
Bingo on Tuesday confirmed privatisation rumours revealed by
The Australian Financial Review s Street Talk column late on Monday. It is considering a conditional $3.50-a-share cash buyout proposal from a consortium led by private equity group CPE Capital.
The stock surged 20 per cent to $3.30 in response. Any offer for the waste group would have to be supported by chief executive and major shareholder Daniel Tartak, and its second-largest shareholder, Ian Malouf.