Perth’s largest insurance broker is preparing to consolidate its staff across two offices following a merger earlier this year, as one of its main competitors readies for a major transition.
AMP has posted a $2.29 billon first-half loss on the back of a $2.35 billion impairment ahead of a large-scale overhaul of its slimmed down operations.
Australia’s chief financial officers have become less optimistic about the Australian economy in the past year, citing concerns about global and local economic conditions, including the rising trade tensions between the US and China.
Commonwealth Bank of Australia full-year profit has fallen 4.7 per cent to $8.49 billion after the nation's largest lender took a $1.2 billion royal commission-related hit.
Cash Converters International says it expects a loss of between $2 million and $4 million for the 2019 financial year, largely due to a class action settlement in Queensland.
National Australia Bank has tasked former Commonwealth Bank of Australia retail boss Ross McEwan with rebuilding the bank's battered reputation as its new chief executive and managing director.
The Perth Mint has created the largest ever coin to celebrate the official launch of its Physical Gold Exchange Traded Fund on the New York Stock Exchange last night.
The recently announced sales of Perth stockbroking firms Patersons Securities and DJ Carmichael will reshape the sector’s pecking order in Western Australia.
AMP shares have hit a new all-time low after the beleaguered wealth manager flagged it would not pay a first-half dividend in anticipation that the $3.3 billion sale of its wealth protection business has failed.
National Australia Bank and ANZ Banking Group have both cut their savings rates again in the wake of the Reserve Bank of Australia's decision to reduce the interest rate to 1.0 per cent.
The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.
The big four banks will have longer than expected to raise extra capital to absorb potential losses after the prudential regulator amended its proposed framework for minimising the fallout from failed institutions.
Deutsche Bank has confirmed plans to wind down its Australian equities division as part of a global restructure, but is yet to comment on overall job losses across local operations.
APRA has told lenders they can immediately change the way they assess customers' ability to meet mortgage repayments in Australia's new low-interest paradigm.
An internal investigation is under way at the corporate watchdog over the collapse of investment company Sterling First, which Business News first revealed had entered administration last month.
National Australia Bank says it's putting its money where its mouth is by allocating $2 billion to boost high-growth tech companies over the next five years.
Shaw and Partners has acquired Perth-based financial advisory and planning firm DJ Carmichael, which has approximately $650 million funds under its advice.
The Australian Securities and Investment Commission has begun civil proceedings against Perth-based RM Capital, alleging that an authorised representative for the firm was engaged in conflicted remuneration.
The Tax Practitioners Board (TFB) announced this morning that it had terminated the tax agent registration of Peter Moltoni, following an investigation into the Perth accountant’s ties to a shell company in the British Virgin Islands.
The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial advice, following his conduct as a representative of Westpac and The Financiallink Group.
The Reserve Bank of Australia has cut the cash rate to 1.25 per cent, a day after CoreLogic data revealed Perth house prices continue to fall more sharply than other state capitals.
Wealth manager AMP has been hit with a class action lawsuit for allegedly charging superannuation fund members unjustifiably high fees for an extended period of time.
Advanced Share Registry has estimated its profit it will decrease by around $350,000 this financial year, which it said is partly due to a reduction in corporate activity.
Some financial institutions may face additional capital requirements after the prudential regulator said many show the same weak risk-assessment capabilities it found last year at the Commonwealth Bank of Australia.
