Gross beat bank
Nuix co-founder Tony Castagna (left) and outgoing CEO Rod Vawdrey. The agencies also looked at the applicability of existing laws and regulations to identify areas that might need “additional clarification.” The three agencies have conducted what they describe as “policy sprints” on crypto assets that essentially focused on how banks might potentially be involved in crypto-related activities.Īmong the issues focused on were the identification of key risks, including safety and soundness, consumer protection and compliance and legal permissibility. Saying that they recognised that the emerging crypto asset sector presented both potential opportunities and risks for banks, their customers and the financial system, it was important, they said, to provide clarity to promote safety and soundness, consumer protection and compliance with applicable laws and regulations, including anti-money laundering and illicit finance laws and rules. The disrupters will be disrupted but the payoff for the crypto promoters and their investors should be greater credibility, enhanced access to investment dollars and inclusion within the mainstream of financial activity.
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Governments around the world stepped up restrictions on travel and the World Health Organisation warned that the Omicron strain could fuel a fresh surge in infections. US central bankers are grappling with fresh uncertainty over the economy following the discovery of the new variant of COVID-19. The House Financial Services Committee will follow with a separate hearing on Wednesday.
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Powell - who a week ago was selected by President Joe Biden for a second term as central bank chief - will appear before the panel Tuesday at 10 am local time, together with Treasury Secretary Janet Yellen, in the first of two days of congressional oversight hearings related to pandemic stimulus. Powell, in the relatively brief text, didn’t discuss specific monetary policy actions or the possibility of changing the pace of the tapering of its asset purchases - a key issue that other officials have flagged in recent remarks. Yet another headache: Jerome Powell, head of the US central bank, warned of new risks to the economy posed by the Omicron variant. Rio Tinto declined by 2 per cent following an analyst briefing warning about higher production costs. Macquarie Group gained 1.4 per cent after completing a $1.3 billion capital raising.īHP was up 2.1 per cent, while lithium miner Orocobre - soon to be renamed Allkem - gained 7.9 per cent. AMP jumped 3 per cent telling investors about a new strategy. NAB and ANZ closed higher, but Commonwealth Bank shed 0.6 per cent and Westpac fell by 1.9 per cent after the corporate regulator announced six new cases against it. Webjet gained 5.2 per cent, Corporate Travel gained 4.7 per cent, and Qantas gained 3.3 per cent. The travel sector rebounded as the government only partially re-introduced quarantine requirements.
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On the ASX investors were clearly pleased with Collins Foods, the parent company of KFC and Taco Bell in Australia, which jumped 12.6 per cent after a strong first half. She noted the US, European and UK central banks all had meetings scheduled for this week. While Omicron could potentially set back the recovery, the Reserve Bank of Australia had plenty of time to assess the impact as it was not expected to make any policy changes until February. “The composition of growth will be predictable and consistent with lockdown, with very weak private final demand driven by a sharp drop in household consumption and aided by a large inventory rundown, with both partly offset by strong public spending and net exports.“ The balance of payments fed into estimates for Wednesday’s gross domestic product (GDP) number, which Ms Ong was now expecting to be up 2.8 per cent year on year, but down 2.9 per cent quarter on quarter. “There was a raft of Australian data this morning which had no impact upon markets as Omicron uncertainty dominates,” RBC Capital Markets’ economist Su-Lin Ong wrote in a note to clients. Travel stocks recovered on Tuesday as the markets got more clarity on potential restrictions.