AMP stands firm as Pahari crisis grows
AMP is doubling down on its position to only release the final investigation into sexual harassment by executive Boe Pahari.
Financial Services
Rosewall sued as BBY pays on claims
Liquidators of failed stockbroker BBY are seeking to recover funds from the former director.
Perpetual eyes a ‘stockpickers world’
The investment house expects coming years to favour active managers, after COVID’s impact helped drag annual profit down 29pc.
Moelis profit climbs on advisory division
Local companies increasingly looking at their capital and funding needs as difficult conditions persist in some sectors.
Afterpay doubles full-year earnings guidance
The company has been among the best performers on the stock exchange in the past year.
AMP to release damning report
AMP is locked in a battle with sexual harassment complainant Julia Szlakowski.
Cbus brawl over super-fuelled home deposit
Super fund head Steve Bracks has slammed a proposal to let homebuyers access up to $50,000.
ANZ pays dividend, says ‘this is our moment’
Parts of Australia are showing economic resilience but the trading environment remains very difficult, the banking major says.
Frantic trading drives Netwealth inflows
The super and wealth management platform benefited from investors piling into the market after it lows in late March.
Westpac building a buffer
Capital isn’t everything in a crisis but it counts for a lot.
ASFA calls for release of super report
Delaying the release of the report was ‘undermining confidence in the retirement system’.
Super funds into positive territory for July
A healthy return in July was largely on the back of international shares, mainly driven by the US market.
ASIC draws up ‘phoenix’ hitlist
ASIC is drawing up a hit list of businesses it believes are likely to illegally ‘phoenix’, as well as the advisers helping them.
Tyro loss widens as virus hits businesses
Bushfires and then COVID have dragged payments provider Tyro to a $38m loss for the first full year after listing.
Westpac ‘may dip into buffers’
Peter King is prepared to dip into the bank’s capital buffers if the pandemic causes a prolonged recession.
AMP’s Murray must go to save face, renew trust
Board ‘appears to be tone deaf’ to the cultural issues at play, say shareholders.
Deferring loans? The jury is still out
Helping strugglers in a crisis makes sense. But for banks, keeping otherwise non-performing loans alive has complications.
Westpac dumps dividend
Westpac has become the first major bank not to pay an interim dividend as boss Peter King warned of a ‘highly uncertain’ outlook.
NGS, Australian Catholic Super to merge
Australian Catholic Super and NGS Super plan to merge to create a $21bn fund serving some 200,000 members in independent and Catholic schools.
Challenges as banks leave Libor behind
The banking sector confronts another huge task in the year ahead as it transitions $10 trillion of financial products to new global reference rates.
A tale of woe at AMP
The position of AMP Capital boss Boe Pahari is now untenable in the wake of public revelations of sexual harassment.
Super funds call for AMP heads to roll
Superannuation funds say a top AMP executive’s position is untenable after a sexual harassment complaint lodged against him was made public.
Early super payout nearing government forecasts
The total amount paid out under the second tranche is growing by nearly 10 per cent a week.
Vic loan deferrals up at Bendigo
The Victorian lockdown has triggered a jump in loan repayment deferral requests at Bendigo Bank.
History beckons as Westpac runs out of options
Shareholders will hate it, but stuck between COVID-19 and Austrac, Westpac’s board really has only one option this week.
AMP’s harassment details kept out of spotlight
The sudden departure of AMP Australia boss Alex Wade early this month reopened wounds.
Macquarie bank scores with EPL tactic
English soccer a new and increasingly lucrative arm of Australian banking’s millionaire’s factory.
Big bank’s billion dollar error
America’s Citigroup paid nearly $1.2bn by mistake to cosmetics giant Revlon’s lenders, and is now asking for the money back.
NAB counts psychological costs of lockdown
NAB sees cash earnings fall but its boss says the psychological toll of Melbourne’s lockdown is exceeding the financial damage.
Fixing culture is No. 1 job, says AMP chief
AMP chief executive Francesco De Ferrari has singled out reforming the troubled wealth group’s culture as his number one priority in the final months of 2020.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/198