Financial Services

CEO lunch with Fabian Ross

There’s plenty of talk about the need for ‘resilience’ these days, but WA Super CEO Fabian Ross learned that lesson long ago.

Share market rises on energy stocks

The share market has closed higher as takeover speculation fueled a big gain for gas giant Santos and other sectors recovered from early weakness.

Aust shares follow negative Wall St lead

The share market is following a negative lead from overseas markets, weighed down by weakness among miners and banks.

Wyatt still open to bank tax despite SA move

Treasurer Ben Wyatt has kept open the possibility of a bank tax in Western Australia, after South Australian Premier Jay Weatherill today quietly dropped his state’s planned tax on the five biggest financial institutions.

Resources stocks weigh on Aust sharemarket

The materials and energy sectors are under pressure in early trade as the Australian share market continues to reverse its climb past 6,000 points.

Goldfields Money rejects increased Firstmac offer

The board of Kalgoorlie-based bank Goldfields Money has knocked back a fresh takeover bid from Brisbane financial business Firstmac Holdings, which valued the company at $1.27 per share.

Citibank repays $4.3m to cardholders

Citibank will refund customers more than $4.3 million after failing to give back outstanding credit card balances, and providing misleading statements about unauthorised transactions. 

Government backs mutual change

The federal government has announced it will adopt a host of Senate committee recommendations aimed at improving mutual and cooperative firms’ ability to raise capital.

Former Perth financial adviser banned for 10 years

The Australian Securities and Investments Commission has banned a former Perth-based financial adviser from providing financial services for 10 years, while an ex-Commonwealth Bank financial planne

Former Perth stockbroker sentenced

Former stockbroker Lewis Fellowes has been sentenced to three years’ imprisonment after pleading guilty to three dishonesty charges, but has been spared prison time after entering into a $30,000, five-year good behaviour bond.

Westpac lifts FY profit 3% to $8.1bn

Westpac has lifted its full-year profit 3 per cent to $8.062 billion, boosted by 6 per cent growth in Australian mortgages.

Nab to cut 4,000 jobs after $6.6bn profit

National Australia Bank will cut 4,000 jobs over the next three years even though it lifted full-year cash profit 2.5 per cent to $6.6 billion.

Macquarie approves $1bn buyback

Macquarie Group's board has approved an on-market buyback of up to $1 billion after posting a first-half profit of $1.25 billion.

ANZ watching mortgage book 'like a hawk'

ANZ Banking Group chief executive Shayne Elliott says the lender is watching its mortgage book "like a hawk" for signs of stress as households rack up record debt to meet rising house prices.

Shareholder bids $25m for Goldfields Money

ASX-listed financial institution Goldfields Money has received a takeover offer from its largest shareholder, which values the target at about $25 million.

Bankwest to roll-out Asian banking initiative

Bankwest has launched an initiative in Western Australia aimed at building stronger networks with the Asian community in Perth.

Lowe and behold, rates pain on the way

OPINION: With a touch of irony, the central bank governor fires a warning shot in mortgage-stressed WA that rates will rise.

Gascoyne in $60m facility for gold project

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

CBA to defend allegations in court next year

AUSTRAC’s civil penalty proceedings against Commonwealth Bank of Australia won’t appear in the Federal Court until April next year.

Managers, investors evolve in west

The state’s first early stage venture capital limited partnership is one of three funds announced by Western Australian money managers this year, and one of two in a joint project by Cottesloe-based View Street Partners and Nedlands-based Mac Equity.