BlackRock’s biggest rivals are tech giants, data is the ‘oil’ of the industry

BlackRock’s biggest rivals are tech giants, data is the ‘oil’ of the industry

"The asset management industry is in its infancy using the true magnitude of these types of capability, but there will be more pressure on us to harvest them more." Rapid advancements in technology – including big data analytics, cognitive computing and digitisation to improve customer experience – is the number one megatrend for the global…
AMP and Clayton Utz roll over for ASIC

AMP and Clayton Utz roll over for ASIC

A spokesperson for AMP confirmed it had withdrawn its claim of legal and professional privilege over the documents. "AMP's claim of privilege reflected, in part, its concern to protect the confidentiality of those employees who participated in the interviews voluntarily and on a confidential basis," the spokesperson said. AMP and Clayton Utz had been claiming…
Between China and US, Australia ‘will choose its security’

Between China and US, Australia ‘will choose its security’

Survival for Australia, caught between such a conflict, will mean taking political pain caused by a decline in exports to China or even banning technology firms such as Huawei. "When it comes to national security, also your integrity as a democracy, you will have to make economic sacrifices," Mr Ferguson said. 'Trump is not China's…
Rich Bosses 2019: Meet Australia’s 10 wealthiest executives

Rich Bosses 2019: Meet Australia’s 10 wealthiest executives

The total return from the ASX 300 during the period – which was marked by a sharp drop in share prices during a violent global correction in November and December of last year – was 1.6 per cent. The Rich Boss who generated the largest shareholder return was Robert Newman, the chief executive of Nearmap,…
RBA warns of ‘abrupt, disorderly’ effects of climate change

RBA warns of ‘abrupt, disorderly’ effects of climate change

"We need to think about how the economy is currently adapting and how it will adapt both to the trend change in climate and the transition required to contain climate change." He said both the physical impact of climate change and the transition to a low carbon economy were "likely to have first-order economic effects".…
ACCC’s fears on Google, Facebook and Amazon market get US backing

ACCC’s fears on Google, Facebook and Amazon market get US backing

"Amazon crushes small companies by copying the goods they sell on the Amazon Marketplace and then selling its own branded version. Google allegedly snuffed out a competing small search engine by demoting its content on its search algorithm, and it has favoured its own restaurant ratings over those of Yelp." Warren would force companies with…
Venture capitalists can rid ‘shysters’ from IPO market: Craig Blair

Venture capitalists can rid ‘shysters’ from IPO market: Craig Blair

"We can do a better job at finding outcomes for those companies," he said. "One [way] is making sure the IPO market is not full of shysters and there's a credible run of technology companies that are profitable and worth investing in." Winning more support The comments come as the venture capital funds in Australia…
Beijing’s militarisation of the South China Sea irreversible, says Turnbull

Beijing’s militarisation of the South China Sea irreversible, says Turnbull

US security officials are urging allies to also ban the Chinese tech companies because of fears Beijing could exploit the revolutionary technology for espionage. However, Britain's cyber security reportedly believes the risk posed by Huawei and ZTE can be mitigated by testing products, with the chief of MI6 recently saying the decision was "complicated" and…
Australian economy exposed to two housing markets: CBRE global economist

Australian economy exposed to two housing markets: CBRE global economist

Australia's economic growth slowed sharply over the same period to just 0.2 per cent, dragging the annual rate of growth below market forecasts. Professor Barkham said Australia's economy was not just exposed to the domestic property market but also to house price movements in China. "The country that is next to Australia in terms of…
Business faces decade-defining choices

Business faces decade-defining choices

The synchronicity of the economic data and Longstaff's message neatly demonstrated the double challenge facing Australia's business community: How to drive growth in a sluggish domestic economy, while at the same time restoring the trust of a community that has, rightly or wrongly, come to see business culture as broken. The choice for business that…

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