Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Friday – TGIF! Rask Media has your financial news headlines sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 70.94 US cents
Dow Jones (DJI): down 1.3%
Oil (WTI): $US68.65 per barrel
Gold: $US1,228 per ounce
Finance News Today
Making finance headlines today is the finance regulator’s (ASIC) investigation into school banking programs. In a media release on Thursday ASIC said it, “will commence a review of school banking programs in primary schools.”
Programs like Commonwealth Bank of Australia’s (ASX: CBA) Dommarmites have come under intense scrutiny for pushing their programs into schools which often receive a kick-back.
“Transparency around school banking programs is important,” ASIC Deputy Chair Peter Kell said. “ASIC wants to understand the motivations and behaviours around school banking programs to ensure they ultimately serve the interests of young Australians, and to enable school communities to have an understanding of the potential impact of these programs.”
The review is expected to be complete by mid-2019. Rask Media will be watching along very closely, as we — and our sister companies — are intensely passionate about financial education:
In sharemarket news, Terry White Chemists will now be entirely owned by EBOS Group Limited (ASX: EBO), the New Zealand-Australian chemist company. EBOS currently owns just over 50% of Terry White but will now move to full ownership in a $50 million cash deal.
“TerryWhite Chemmart (TWCM) represents one of the largest retail pharmacy networks in Australia and has developed a distinct brand proposition in a highly competitive market,” EBOS ECO John Cullity said. “EBOS’ move to full ownership at this time is a natural progression of the strong relationship that has been built between EBOS and TWG.”
Sydney Airport Holdings Ltd (ASX: SYD), the owner of Sydney Airport, released its traffic numbers for September showing a 0.4% in year over year traffic for the month. International passengers grew 1.7% to 1.34 million.
“September was impacted primarily by the school holiday period falling later this year compared to last,” CEO Geoff Culbert said. “Pleasingly, total and international passengers grew 2.9% and 4.8% respectively for the calendar year to date compared to the pcp [prior corresponding period].”
Slow News Day?
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