News for the week that was in Finance.

Topics:

ABS release of data on how the market is performing:

Retail Trading - Slipped Backwards 1.5%

*However, figures are better than Sept 2019 ->Online Spending?

AustPost: expect $4 billion to be spent from now till Xmas - 25% increase in Online Shopping

WISR Result for first QTR of 2021 - Record 47% spike in lending

Is this a sign of debt consolidation or spending?

Payroll figures for people employed under 20 years of age has risen 6.1% since mid march

*This was before the Fed Budget JobMaker scheme was announced.

*Unfortunately, every other age bracket was in decline

*Younger Staff = Cheaper wages?

Fed Budget tax cuts have passed Parliament.

CBA: Cut 5 bps off savings account

What will the pensioners do whom rely on interest earnt on savings accounts as a means of income?

CBA also beefing up the Business Banking team

*1 day approval

*Biz Express (loans approved inside 12 minutes) will be the new platform that they will use.

Afterpay teaming up Westpac - Providing savings account

*Westpac then sold 10% stake in ZipCo (direct competitor to Afterpay) the next day.

Listen to this and more!