Aussies kick credit in pandemic
Report shows Australians are wary of getting into more debt during the pandemic.
Financial Services
IAG profit tumbles to eight-year low
IAG CEO Peter Harmer expresses confidence in outlook, despite the company reporting its lowest annual profits since 2012.
De Ferrari must take control of the ongoing AMP circus
Surely it’s about time AMP chair David Murray had a chat with AMP boss Francesco De Ferrari.
Westpac to bite the bullet
Momentum is building in senior Westpac ranks for the bank to settle a damning case brought by Austrac, by paying a record $1.5bn penalty.
AMP rocked by exit of top executive
AMP’s woes are not letting up with the head of its large Australian business Alex Wade abruptly exiting the company.
Concern over pandemic insurance confusion
Customers who make an unsuccessful claim against an insurance policy must disclose that claim against any future insurance products.
Watchdog wants better oversight of digital economy
Existing regulatory frameworks ‘have not held up well’ to the challenges of digitalisation, says Rod Sims.
AMP is becoming a soap opera
The sudden exit of Alex Wade, who made enemies among financial advisers, is hardly a sign of progress at AMP.
‘Super funds must recognise writedowns’
Equity Trustees has called out super and investment funds for dragging the chain on revaluing assets during COVID-19.
Super members ‘bear cost of cave destruction’
Superannuation heavyweight HESTA says it and other investors will ultimately pay the cost of Rio Tinto’s damaged licence to operate.
APRA poised for more Hayne action
The prudential regulator is set for more enforcement action, and backs cap on bank dividend payouts instead of outright ban.
Keating ‘elitist’ over early super: Hume
Financial Services Minister Jane Hume says early release super gives Australians a buffer in recession and allows them to build some resilience.
Regulator to file against AMP ‘by year-end’
ASIC deputy chair Daniel Crennan confirmed the regulator was investigating “a number of matters” related to AMP.
Blackbird defies odds with $500m raising
The venture capital outfit is now the largest in Australia, having committed more than $1.24bn in funds to date.
Keating slams super ‘rat’
The grandfather of the system took careful aim before firing off multiple rounds at those seeking to undermine his legacy.
How to protect yourself from Ponzi planners
A former financial planner jailed for a Ponzi scheme highlights the ongoing vulnerability of individual investors.
ASIC, APRA to expect grilling
Litigation strategies and superannuation are likely to be top of the list in hearings this week.
ANZ scoffs at Sydney move
Setting his own status to WFH for the first time, ANZ CEO Shayne Elliott says things must change. But there’s no way the bank is moving to Sydney.
Business braces for shutdown cost
A harsh six-week forced hibernation will see hundreds of thousands of workers sent home and sinkholes emerging in company balance sheets.
Hard deadline on early super: Combet
Errors in the execution mean the stimulatory measure ‘which is not equitable’ should be halted by December.
Magellan rolls three equities into one fund
Magellan Financial Group plans to simplify its retail product offering into a single fund.
Review dividend guidance, quickly
Retirees may shudder, but regulators must look closely at the decision to allow banks to pay half their profits in dividends.
ASIC warns of risks in overstating asset values
The corporate regulator found a number of ASX-listed companies were overstating cashflow and assets.
Alleged $27m NAB fraud in court
A Sydney businesswoman faces 73 charges over alleged kickbacks that paid for holidays, houses and luxury cars.
AMP flags profit hit as shares slide
Any hope of a bumper special dividend for AMP shareholders is dwindling, as the group warns of a more than 50pc drop in half year profits.
‘Disease’ insurance test case to proceed
The case will be closely watched as a finding against the industry could trigger hundreds of millions of dollars in pandemic-linked payouts.
Macquarie braces for COVID storm
Macquarie scraps earnings guidance for the first time since the GFC as it warns of ‘unprecedented uncertainty’.
IOOF tips market volatility to hit results
Wealth manager flags underlying net profit to decline when it releases results on August 31.
ATO warning on early super access
ATO crackdown: meet the criteria of hardship, or face a higher rate of tax income or a fine.
Focus on real unemployment at MyState Bank
Lenders watch ‘real unemployment’ levels, as bank customers brace for the worst.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/200