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Financial Services

NAB raises fixed home loan rates

National Australia Bank has followed its big four rivals by raising the rates on several of its fixed-rate home loans.

WA law firm worker jailed for $2m fraud

A former law firm manager has been jailed for six and a half years after siphoning $2.1 million from trust accounts to fund her gambling habit.

ANZ offloads NZ finance unit for $626m

ANZ Banking Group has announced its second asset sale in two weeks as it continues efforts to streamline the business and bolster its capital.

Euroz tips $13m profit

Stockbroker and funds manager Euroz has foreshadowed a strongly improved interim profit, driven mainly by the performance of Euroz Securities and the increased share prices of its listed investment companies.

Westoz, Ozgrowth to pay $4.8m dividends

Two listed investment companies controlled by Euroz Securities will pay out nearly $5 million in half-year dividends, with Westoz Investment Company announcing a 3 cent per share payout for investors while Ozgrowth will distribute 0.25 cents per share.

ANZ selling Chinese bank stake for $1.84bn

ANZ is continuing to offload Asian assets with the sale of its 20 per cent stake in Shanghai Rural Commercial Bank for $1.84 billion.

Banished finance broker’s appeal denied

A former Get Approved Finance broker has had his appeal denied after a tribunal backed an earlier decision to permanently ban him from the industry.

Asic bans Perth mortgage broker

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

Pioneer signs $100m facility

Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.

Rottnest Express partners with Westpac for UnionPay trial

Ferry operator Rottnest Express has partnered with Westpac to trial the use of a payment card that's popular with Chinese tourists, for online payment for its services to the tourist hotspot.

Asic starts proceedings against State One

The Australian Securities and Investments Commission has launched civil proceedings against Perth-based State One Stockbroking, and in a separate matter has accepted undertakings from two liquidators employed by Melsom Robson.

Asic bans Perth insurance broker

The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial services after finding he had redirected $254,000 worth of clients' funds into his own accounts.

HLB Mann Judd grows with Sovereign buy

The wealth management division of HLB Mann Judd's Perth office has expanded with the acquisition of local financial advisory firm Sovereign Plus for an undisclosed sum.

Cash Converters to pay $12m after Asic probe

Perth-based Cash Converters International has agreed to refund $10.8 million to customers and pay a $1.3 million fine after enforceable undertakings were accepted by the corporate watchdog.

CEO lunch with Gary McGrath

Business News sat down to lunch at Julio's with Gary McGrath, the well-travelled GM of corporate banking at the Commonwealth Bank.

Euroz tops $1bn in funds

Euroz has reported a bumper first-quarter profit of $9.75 million, driven by strong growth in capital raising deals and good performances by its funds management businesses.

Market enables new listings

SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.

Donnelly judgement discloses financial woes

Former footballer and insurance broker Andrew Donnelly has failed to overturn freezing orders that were imposed in January in relation to the alleged misuse of $5.1 million of trust funds from his old business.

Healthy numbers for HBF

The state's biggest health insurer, HBF, has shrugged off a challenging market to grow revenue and break the 1 million mark for membership, as it continues to push outside its Western Australian home base.

CEO lunch with Sherif Andrawes

Born in Egypt and raised in Scotland, Sherif Andrawes brings a world of experience to his role as WA chair of global accounting firm BDO, as Business News discovered over lunch at Julio's in West Perth.

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