In this Financial Services News Wrap episode, Paige Estritori discusses significant financial upheavals caused by recent Trump tariffs, shaving 3.9% off Australias ASX 200 and resulting in a $90 billion loss in Australian superannuation. In response, the Reserve Bank of Australia is expected to cut interest rates by 100 basis points this year. This could potentially increase property market activity and impact housing affordability. The episode also covers TAL's 15.1% stake acquisition in Challenger Limited, indicating a focus on serving Australia's ageing population. The impact of Ex-Tropical Cyclone Alfred on Australia's economy and the subsequent $1.2 billion recovery fund allocation are discussed. Finally, AMP's expansion of its North platform by integrating Innova Asset Management, AZ Sestante, and Watershed Funds Management, with 150+ managed accounts offer is highlighted. Visit financialservicesonline.com.au for more details.
