Private sector credit is still growing with total credit provided to the private sector by all lenders continued to show a small rise, according to the latest figures by the RBA. Total credit is currently rising by nearly 3 percent annually.

The Australian Securities & Investments Commission (ASIC) has given warning to the financial sector that it is about to tighten up on advertising claims. ASIC says it will go so far as to ban popular promotional expressions such as secure, guaranteed and free. This applies to financial products from banks, insurers and wealth managers.

The annual Deloitte survey on the health of SMEs (Small to Medium Enterprise) shows this huge section of the economy is showing very little growth. In fact, less than 4 percent are reporting expansion.

While the retail sector complains once-loyal shoppers are boycotting many shops, the export travel industry is booming. Figures from the Australian Bureau of Statistics (ABS) show record numbers are now taking advantage of cheap international air fares and our high dollar. The annual number is now over 660,000.

Everyone knows the mines pay huge wages which attract many workers nationally, but the fact that mines struggle to keep workers is rarely reported. The on-going problems of employees not returning after home leave is a huge problem with Australian mining companies which are always introducing extra incentives for their transient fly-in/fly-out work forces.

The latest statistic from this industry reveals the mainly casual workforce now earns an average $2000-plus weekly wage.

An interesting piece of digging by researcher Canstar Cannex estimates millions are being lost on superannuation annually due to ignorance and apathy. The company blames fees on multiple accounts, a tick-the-box attitude and younger workers who move from employer to employer. While the industry is the beneficiary and is strictly controlled by many laws, the researcher sees little chance of change.

Business groups have regularly complained to the Productivity Commission that the cost of car parking at our major city airports is unjustifiably among the highest in the world. But the release of the Productivity Commission’s Economic Regulation of Airport Services report last week insists the level of parking fees shows no evidence of misuse by the five major airports’ market power. (This contradicts the recent Australian Competition and Consumer Commission report last year which found Australian airports to be exploiting car parking fees and is among the most expensive in the world.)

This week saw the latest on-going results of the fascinating ASX Top 100 chief executives pay survey by the Australian Council of Superannuation Investors, now in its tenth year. The figures show the CEO incomes more than doubled during the decade where their share values lifted by barely 30 percent. (Council members manage more than $300 billion in retirement savings.)