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The big news in the financial world last week was that China’s currency, the Yuan, fell by close to 2%. At first this doesn’t sound like big news. The Australian dollar has fallen almost a third over a 12 month period, something Australians have become accustomed to.
Payday lenders were in news once again last week. Excessive fees, questionable lending practices and often vulnerable clients, means that payday lenders are never far away from controversy.
Last week, an ANZ Bank discussion paper outlined some sobering statistics about the Australian workforce. While women are working more then ever before in our history, they are being paid on average 18.8% less then men.
Everything in finances comes down to risk verses return. Like all investors, banks chase optimal returns while maintaining safeguards against loses. This pursuit of higher and higher returns contributed to a worldwide collapse during the GFC.
