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Financial Services

High mortgage delinquency in Perth

New data from Moody’s shows Perth mortgage delinquency rates are the highest in Australia, despite the capital city also holding one of the highest average incomes in the country.

Brokers’ best business in mining services

Tighter lending conditions likely after the banking royal commission will be a hurdle for business brokers who are seeing a slow improvement in their market.

Gold revival boosts deal flow

SPECIAL REPORT: WA companies participated in 175 corporate finance transactions worth $7.6 billion in the September quarter, with one of the most complex and innovative being the recapitalisation of Eastern Goldfields.

Twigger goes for gold with $350m blockchain bid

PCF Capital founder Liam Twigger has revealed plans to raise up to $350 million for a cryptocurrency token that will back a new investment fund for gold mining juniors, in what would be the most significant Australian blockchain-related deal to date.

Bank on a punitive aged care outcome

Despite the damning testimony at the finance royal commission, the banks are likely to emerge largely unscathed; the same will not be true for aged care providers.

HBF lifts surplus to $61m

HBF has flagged the possible sale and lease-back of its head office building in central Perth after reporting a lift in its financial performance and a major shift in its east coast growth strategy.

New funding for business

Two recent initiatives have created new funding options for startups and proprietary companies in WA.

Executives perform for $38.7m share

Twenty local executives acquired $38 million of shares at no cost over the past 3 months, research by Business News has found.

Sirona spins-off Harvis

Private investment group Sirona Capital has been split in two, with founding director Kelvin Flynn establishing a new business named Harvis with a focus on real estate, agriculture and infrastructure financing.

Podcast: CoreData research on consumers and banks

In this podcast Mark Pownall talks to Kristen Turnbull from CoreData about her specialist subject of market research, most notably the impact of the current Royal Commission on banks and financial services businesses.

Strong profit for Insurance Commission of WA

The Insurance Commission of Western Australia has reported a 43 per cent rise in profit in the 2018 financial year, to $277.7 million, on the back of higher investment income, improving premium revenue, and lower claims.

UBS begins Perth rebuild

Global investment bank UBS is rebuilding its Perth office after a short hiatus, luring Tim Andrew from his Cottesloe boutique practice.

Ban on Perth financial adviser overturned

The Administrative Appeals Tribunal has today set aside a decision by the Australian Securities and Investments Commission to ban Robert Hutchison from providing financial services.

Goldfields raises $20m

Goldfields Money has tapped investors for $20 million, with its planned merger with mortgage aggregator Finsure nearing completion.

Tech Scene- Bankwest messaging service

Bankwest has launched an in-app messaging service that allows its customers to have their questions and queries answered securely, quickly and easily.

Perth tax adviser facing $35m tax bill

Perth accountant Peter Moltoni has been hit with a $34.5 million tax assessment after the ATO took a close interest in disputed payments by his former client Pankaj Oswal.

Reid resigns as Cashies improves profit

Cash Converters International has posted a $22.5 million profit for the 2018 financial year, while also announcing the resignation of chief executive Mark Reid.

Rosser still dreaming with his feet on the ground

Brad Rosser brings diverse experience with Bond Corp, McKinsey and Co, Virgin and Unilever Ventures to his current focus on startups.

Back to basics for banks

Investors seem unconcerned by the fallout from the banking royal commission, with banks’ shares rising despite the flood of bad news.

Perth lenders merge in $11m deal

Perth-based lenders Fair Go Finance and Capfin Money have announced plans to merge in a deal under which Frankfurt-listed MyBucks will sell a 60 per cent stake in the new entity to its former chief executive Tim Nuy.

HBF launches high-tech city branch

HBF last night launched its new Perth city branch at Kings Square, which includes a raft of modern technology experiences including a Skype station and self-service digital claims processing.

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