Axe falls on jobs at EY as staff told redundancies coming
Staff at the firm have been told to expect redundancies across the sprawling audit and consulting giant, with up to 100 jobs on the line amid a looming restructure.
Financial Services
Police reveal more raids in PwC probe
The AFP says it is working through documents and statements from more searches it carried out after a raid of PwC headquarters, as part of its investigation into the tax scandal.
Tripp’s Betr revs up gaming with rival $360m Pointsbet bid
The digital gaming player is on the cusp of breaking into the top tier of Australia’s sports betting market as it enters the Pointsbet bidding war.
Why ASIC wants to shine a light on the dark markets
Some of the fastest-growing parts of capital markets have largely functioned unseen. Regulators don’t want to be caught short when the next crisis inevitably hits.
Platinum co-CIOs out under new firm structure
Andrew Clifford and Clay Smolinski will step down as co-CIOs of Platinum Asset Management and be replaced by an investment oversight group.
Bankwest banking on simpler demands
Commonwealth Bank’s move to shut Bankwest branches has left the West Australian operation as a digital-only operator.
Howard Marks on stock bubbles and gold: What gives first?
The legendary Oaktree investor makes the case during an Australian briefing that history is working against Wall Street repeating its rally.
ASIC to push ASX on transparency
The corporate regulator has warned its latest forays, slapping new rules on the ASX, are a sign of things to come.
Liberty Financial eyes rate benefit
Liberty Financial expects to see an uptick in demand following the RBA rate cut, says borrowers are still struggling.
ANZ steps up digital platform push, migration
The bank will ramp up the information flow about its Plus platform next month, even as it remains the subject of several regulatory probes involving its retail unit.
Could CBA shares plummet?
The superstar stock of the ASX may be sailing towards a cliff edge, with most experts believing it is heading for a fall.
Wealth industry playing catch up: Iress
The financial services software company says the wealth industry is primed for growth as advice needs rise.
Perpetual walks away from KKR deal
CEO Bernard Reilly says the latest offer from KKR did not provide enough value for shareholders.
Nation’s financial controller prepares to pass the torch
As Stephen Jones approaches his retirement from politics, he says some issues remain unresolved in the financial services sector and must be dealt with by the next government.
Brookfield’s assessment of La Trobe sale to come to a head
As the private equity firm navigates Healthscope being in a perilous state, it is also actively assessing whether to divest Melbourne-based La Trobe Financial.
Crypto exchange Bybit loses $2.4bn in hack
Dubai-based cryptocurrency exchange Bybit has reported hackers stole $US1.5bn ($2.4bn) worth of digital assets in the largest crypto theft in industry history.
Win for Shaw and Partners in Fortrend Securities row
Fortrend Securities boss Joe Forster has been dealt a double blow in two cases against former staff, now at rival firm Shaw and Partners.
Cost of living derails retirement hopes
More than half of working Australians don’t expect to build up enough of a nest egg by the time they leave the workforce, according to a new survey from Colonial First State.
Private credit critics ‘miss the point’
Australian investors want more exposure to private markets, even as warnings rise. Hamilton Lane boss Juan Delgado says low default rates show the strength of private credit.
Responsible investment is more than skin deep
Responsible investing starts off with the best intentions, but how do you really know where the money is going and ensure that the ultimate destination aligns with your values?
New Westpac boss shakes up consumer bank
Westpac’s new CEO Anthony Miller is yet to completely lock down a new-look executive bench, but has moved to reorganise key parts of the bank’s consumer and business units.
Only recession can make ‘ruthless’ Victoria great again
Not all is lost. Victoria has a clear competitive advantage across four world-beating exports and these mines won’t run dry. But first there will be pain.
Silence to settle NAB ‘boys club’ suit
Allegations that NAB’s markets business had a ‘boys club’ culture or that a former trader was threatened with a baseball bat will not be tested in court after the bank settled a long-running case.
QBE: Tariff pain looms over premium hikes
Hot inflation has continued to drive price rises to QBE’s Australian customers, with the global insurer warning it will continue doling out hikes in the coming year.
‘Not sustainable’: how to fix an $80m mess
Financial advisers are incensed at eye-watering bills to compensate victims of poor advice, and want an overhaul of the scheme.
MA Financial upbeat but warns private credit market untested
Diversified financial operator MA Financial has flagged ‘materially higher’ earnings for the year ahead but warns the private credit market remains untested in tough times.
Productivity and lack of homes the key issues: NAB chief
Australia is exiting its tough economic times, but the nation still has big issues in property and productivity to deal with, NAB chief executive Andrew Irvine says.
Insignia tangos with bidders, signals dividends may resume
The wealth group has provided its takeover suitors three detailed presentations apiece as it flagged the board would assess resuming dividend payments in the second half.
The pendulum ‘swung too far left’: BlackRock’s Larry Fink
The most powerful investor on Wall Street tells The Australian that corporate culture is ‘undergoing a reset’ away from its progressive outlook. Larry Fink is moving with the times.
Magellan teases higher dividends
Magellan’s shares are down 10pc as investors weigh margin compression and lower management fees, but the firm talks up its partnerships.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/4