Thu, 18th Jul 2024

In this episode of the Daily Financial Services News Wrap, host Paige Estritori discusses major financial updates from Australia. The Australian Prudential Regulation Authority (APRA) is under scrutiny from the Australian Greens over inquiries into financial relationships between industry superannuation funds and trade unions. In housing, escalating construction costs and interest rates have led to new home approvals hitting a decade-low, challenging the Albanese governments aim of building 1.2 million homes in five years. On the ASX, Australian shares reach a two-week high as the financial year nears its end, with gains noted in energy and banking stocks. Lastly, Suncorp renews its commitment to Economic Equity Initiatives by unveiling its third Reconciliation Action Plan, aimed at strengthening economic opportunities for the First Nations Community.