ASIC flags reforms after Shield, First Guardian collapses
The corporate cop says it will work with Treasury and the government on options for reform in the wake of the First Guardian and Shield fund failures.
Victoria Business
NAB boss slept through 3am board hook-up about his behaviour
NAB boss Andrew Irvine says a week of media scrutiny over his behaviour has been challenging. It started with remarks about him drinking and evolved into a public discourse about his leadership style.
Qantas hack underscores our woeful data storage game
In the world ahead, companies are going to need to store vast amounts of data to gain the advantages of enhancing computer power. Which means Australia has some clear choices.
Virgin tweaks power bank policy after mid-air fire
A mid-air fire on a Virgin Australia flight has prompted an update to the airline’s policy on the carriage of power banks, to ensure they are in view at all times.
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Abandoned homes and millions owed after Melb builder goes bust
The Ravenhall-based builder has entered administration, leaving behind a trail of unfinished homes and debts totalling over $2m to unsecured creditors.
Controversial developer Jim Raptis quits company as ASX flags share surge
A former Olympian is set to take the reins of a 40-year-old, ASX-listed, twice-collapsed development company which is changing its name after its irrepressible founder quit.
Fresh blow for Exoticathletica creditors owed millions
Unsecured creditors owed millions from the collapse of Australian activewear brand Exoticathletica may see little to no return, as administrators scramble to secure a last-minute buyer.
ASIC’s three-year inertia on First Guardian, Shield tip-off
ASIC was warned in 2021 about cold-calling companies using high-pressure tactics to funnel people into the advice firms linked to Shield and First Guardian. It took three years to investigate.
Australian Louis Vuitton customers hit by major data theft
Luxury brand Louis Vuitton is the latest high-profile company to fall victim to a cyberattack, with the personal data of Australian customers, including postal addresses, stolen.
‘Tone deaf’: Aussie brands on tightrope with kiss-cam scandal memes
Aussie and international brands have rushed to piggyback the Coldplay kiss-cam scandal, creating a flood of memes riffing off the viral moment – but can this sort of marketing backfire? Read what the experts say and take our poll
Private credit boys club’s day of reckoning on Adgemis wipe-out
The full list of which secretive Sydney and Melbourne private lenders were tapped to fund Jon Adgemis’ empire to the tune of over $680m has been revealed, as they stand to lose 99 per cent of their loans.
‘Sham regulator’: Investors decry ASIC inaction over $120m ‘ponzi’
Devastated investors owed up to $120m in a collapsed property development company – described as a ‘giant ponzi scheme’ – say they’ve been forced to spend hundreds of thousands more pursuing the matter in court. So where’s ASIC been?
Is our hospo hell finally over? Big sign trader failures have peaked
Business insolvencies have surged to a record high but a new report suggests they may have peaked and there are promising signs for the embattled construction and hospitality industries.
ASIC targets credit “repairers” after customers left bankrupt
ASIC will launch a review into debt fixers and credit repair companies, amid horror stories from customers who say they’ve been left in worse trouble than before.
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