Australian banks have granted $700 million in loans to small and medium size businesses during the coronavirus pandemic while waiting for the government's JobKeeper payments to come through. Despite this, government MPs have received complaints from business owners that banks have been difficult to contact and slow to approve emergency support.
During a call with the Treasurer, banking bosses agreed to set up dedicated hotlines for businesses to fast-track applications relating to JobKeeper. Prime Minister Scott Morrison on Thursday urged the big four banks to step up amid the coronavirus crisis. "It's important banks stay up to the mark here. I am concerned with the increasing number of stories we're getting," he said. "We need those turnaround times to improve.
ScottMorrisonMP Yes you very bad bankers 😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉😉
ScottMorrisonMP The audacity of the gov has no limits. Admonish the banks for tardiness but can’t get there stimulus out inside 8 weeks. Banks criticised in RC for lax lending standards but now the Gov needs them they say skip the process. What a joke
ScottMorrisonMP
ScottMorrisonMP Quite deliberate by Gov...big banks don't lend to small business on community banks non profit making are the answer this Gov knows that!
ScottMorrisonMP Outsourcing welfare carries some risks
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Coronavirus pandemic highlighting 'the push and pull of health versus economy' | Sky News AustraliaSky News Contributor Michael Ware says the coronavirus pandemic has highlighted the operation of the “many Americas” in the United States where the states operate according to their own agenda. \n\nState governors have begun considering lifting restrictions as protests are taking place across the country, urging leaders to reopen the economy and allow workers to return to their jobs. \n\nMr Ware told Sky News “we are seeing the coronavirus reaction both politically and in terms of public health versus economy being reflected differently in red Republican states and blue Democratic states”. \n\n“What we’re seeing in the south and the Midwest, people want to get back to work, people want to get back to business”. \n\nHe said Georgia’s governor announced he would reopen a number of businesses over the weekend – including tattoo, massage and beauty parlours and restaurants – despite recording 19,000 virus cases and 775 fatalities across the state. \n\nThe struggle between maintaining lockdown and allowing people to begin going about their normal lives has shown the “the push and pull of health versus economy that’s playing out here in the US,” he said. \n\nImage: AP\n Apart from New York, New England, and parts of California (pre and post covid19, of course) I wouldn’t go near the place! Too many crazy people living in states with crazy laws. It's supposed to be that way, power devolved to the lowest and smallest electorate. Just like Australia....
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Market mayhem whacks $30b hole in AMP's funds under managementAMP has suffered a $30 billion hit to assets under management across its wealth, capital and banking divisions last quarter, as the coronavirus pandemic roiled the global economy and financial markets | CharlotteGriev1 CharlotteGriev1 But I bet the managers still get their fat salaries and bonus. Rort. CharlotteGriev1 AMP are one of the worst fund managers I've used. Rate them just above REST. That's pretty bad, because REST are absolutely terrible
Source: smh - 🏆 6. / 80 Read more »