SBS News in Filipino, Friday 4 July 2025
ACCC is warning consumers about online 'ghost stores' - which claim to be small, local operators with high quality products.
New research suggests wealthier students are going to benefit more from government plans to cut university debt than those on lower incomes.
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News.com.au
an hour ago
- News.com.au
Criterion: Buy, hold or sell CBA? Investors face their NFY resolution
The CBA clearly is overvalued on conventional metrics, but selling is not as simple as that 'Expensive' stocks can remain so for months – or even years The CBA's worthy peers could be cheaper alternatives Happy New Financial Year (NFY) – a time of quiet reflection on the next fiscal stanza between scrambling for receipts to justify Netflix as a tax deduction. As part of their soul searching, investors may resolve to take profits on shares that have done well. Like the New Year's resolution to drink only on weekends rather than days ending with a 'y', NFY intentions dissipate just as quickly. But there's one decision that won't go away – and its got nothing to do with joining a gym. Should they sell their shares in the Commonwealth Bank (ASX:CBA) after last financial year's shock 48% share romp? With the stock down about 5% over the last week, some investors already have lightened up on the bank, rather than with the barbells. Trapped in a 'virtuous cycle' A chorus of expert voices has decried the CBA is chronically overvalued: mainly the fund managers who sold too soon and trashed their 2024-25 performance. In summary, the world's most expensive bank is such because overseas institutions like Australia. The CBA – also the biggest ASX stock- is the obvious proxy for our great nation. As more instos pile into the CBA, there's more buying because of the need to maintain index weighting. The CBA now accounts for 10% of the ASX200 index. This is all very well until a typical bank-like event – such a housing downturn – disrupts this self-reinforcing loop. In the words of Atlas Funds Management's Hugh Dive: 'it's a virtuous cycle until it isn't'. One pillar, three 'stumps' CBA's $300 billion valuation makes its Four Pillars peers look more like three 'stumps'. On Morgan Stanley's numbers, the CBA trades on an estimated current-year earnings multiple of 29 times, compared with 20.4 times for its Westpac (ASX:WBC), National Australia Bank (ASX:NAB) and Australia and New Zealand Banking Group (ASX:ANZ). This compares with a sector average multiple of 12.5 times over the last decade. Of course, most retail investors hold the banks for their franked dividends. On this note, the banks trade on an average forward yield of 4.8%, or 5.8% grossed up (accounting for the franking). The CBA's yield has declined to a mediocre 2.7% (3.9% grossed up). Put in context, a risk-free 12-month CBA term deposit pays 4%. The case for buying To be fair, the CBA has kept its nose out of trouble – and inarguably it's one of the world's best managed banks. Our 'stronger for longer' housing boom sure does help. 'Expensive' shares can remain so for years. This is evidenced by this year's record-breaking run of radiology imaging play ProMedicus (ASX:PME). Or, globally, AI hero Nvidia. So is the next stop for CBA is $200 per share. Or why not $300? The CBA's valuation could be supported if the Goldilocks economy thesis pans out, with tempering inflation enabling more rate cuts (as is expected). Meanwhile, the other three 'Four Pillars' have taken in turns to court disaster and controversy or lose share in the key home mortgage market. Banking on better returns elsewhere That said, the 'three stumps' are excellent banks by global standards. They also have a solid track record of recovering from despite their whoopsies. For those seeking consistent income, they work on a September balance date so pay their divs at a different time to the June-balancing CBA. Still unconvinced? The non-Big Four banks could be a credible alternative. That said, they may lack the relative prudential strength and have a higher cost of capital. Investors in the out-of-sorts Bank of Queensland (ASX:BOQ) enjoyed a 40% bounce share bounce last financial year, secondly only to the CBA's 49% surge. MyState (ASX:MYS) is an exposure to the gentrifying Tasmania market, as well as the Rockhampton and Bundaberg regions. A pure-play business lender Judo Capital Holdings (ASX:JDO) enjoys higher interest margins than on a mortgage, but its risk managers need to be on top of their game. So far, they have been. PNG bank Kina Securities (ASX:KSL) trades on a PE of eight times and an 8% yield. Perversely for the impoverished island nation, Kina has capital adequacy that would put the Big Four to shame.
ABC News
an hour ago
- ABC News
An expert has quit over the government's planned social media ban, what now?
One of the experts advising the teen social media ban's tech trial has resigned over concerns about its planned 'age assurance' technology. Between uploading government ID documents to US tech companies and using AI to scan and identify people's ages, it's still unclear how this ban is going to be enforced. Is there a better solution we're missing here? Also, how can we ban social media if we can't decide what it actually is? YouTube has been classified and de-classified as social media throughout the process of developing the bill, and the definition may be more important than we realise when it comes to drawing a technological line in the sand for this ban. Plus, remember the metaverse? The non-Zuckerberg version of the Metaverse is back in the news this week with a new Standard out that could drastically impact teenagers safety online. GUESTS: Emily van der Nagel , lecturer in social media at Monash University , lecturer in social media at Monash University Jocelyn Brewer, founder of Digital Nutrition and psychologist This episode of Download This Show was made on Gadigal land and in Naarm. Technical production by Ann-Marie de Bettencour and Ross Richardson.
Sky News AU
an hour ago
- Sky News AU
Australia-US relations descending into a ‘farce' with Albanese at the helm
Shadow Cabinet Secretary Andrew Wallace says the relationship between Australia and the United States is too important for it to descend into a 'farce'. Prime Minister Anthony Albanese has downplayed concerns over the strength of the US-Australia alliance, saying he is 'not worried' about relations with President Donald Trump. 'Irrespective of whether the prime minister likes or doesn't like Donald Trump, the prime minister has a responsibility to have a working relationship with the president,' Mr Wallace told Sky News host Danica De Giorgio. 'Clearly the president has got Anthony Albanese in the freezer.'
