Financial Services

Finance group Argonaut has won a Supreme Court ruling against Perth company director Russell Moran, who could owe in excess of $30 million after taking out a high-interest loan six years ago to buy

Insurance giant Suncorp Group expects the cost of three natural hazards in its second half to be capped at $300 million.

Euroz has reported an unaudited net profit of $8.5 million for the half year to December 2019, reflecting a strong performance by most of its funds management subsidiaries and a solid result from i

The Australian Securities and Investments Commission has banned Wayne Blazejczyk from providing financial services for five years, saying the Perth adviser had failed to meet best interest obligati

The corporate regulator is seeking to wind-up an alleged unregistered managed investment scheme run by Mt Hawthorn resident Chris Marco, who received about $240 million from 132 investors.

West Perth-based Capital Partners Private Wealth Advisors has been announced professional practice of the year by the Financial Planning Association of Australia.

The corporate regulator has strongly criticised company directors and lead managers involved in mining IPOs, saying they often have conflicts of interest, favour select clients and are focused on chasing short-term gains.

Pioneer Credit has named US investment group Carlyle as preferred bidder to acquire the business, at a price of $1.82 per share, a large discount to the company’s latest closing price of $2.46 per share.

Over the course of two decades, Deloitte has overtaken all its major rivals to become the largest accounting and consulting firm in Western Australia, helped by multiple acquisitions.

Two Australian Finance Group founders have sold shares worth about $27.6 million, about 5 per cent of the company, as they plan to diversify their portfolios.

Pioneer Credit has disclosed it is just days away from announcing a preferred bidder for the troubled financial services business.

OPINION: The Westpac transactions scandal exposes its dependence, and that of the other banks, on computerised processing to replace people and cut costs.

With uncertainty surrounding global share markets, Business News has taken a close look at the strategies of six Perth-based fund managers.

Health fund HBF has shifted to a more conservative investment strategy in response to the risks facing global share markets.

ASIC has ordered IOOF Holdings to make sure a majority of directors have appropriate skills and experience to support its business as a wealth manager.

OPINION: As welcome as they are for borrowers, the current era of ultra-low interest rates is creating the climate for a financial crisis.

Westpac says its full-year results will be reduced by a further $341 million after the bank increased its annual provision for customer remediation to just short of $1 billion.

A successful year for GMO Business Sales masked what was an otherwise quiet year for brokers across the state.

Afterpay Touch has described itself as a "marketing channel" whose service goes beyond payment processing after the Reserve Bank of Australia said it would look at whether action is needed to help retailers recover the cost of buy now, pay later services.

Investors have welcomed an agreement by Cash Converters International to pay $42.5 million to settle a class action in Queensland.

The big banks have said they welcome the competition watchdog inquiry into mortgage pricing, with ANZ chief executive Shayne Elliott admitting lenders have not properly explained why their rates do not keep pace with the tumbling cash rate.

Housing finance provider Australian Finance Group says lending for homes in the first quarter of the 2020 financial year in Western Australia has rebounded from record low levels to reach its highest figure since the end of the 2017 fiscal year.

AMP is combining its banking and Australian wealth management units in a major restructure, creating a new organisation called AMP Australia.

Mining technology company Imdex is the latest addition to the BN30 index, Business News’s Western Australian equivalent of the Dow Jones index on the New York Stock Exchange.

Commonwealth Bank's CommInsure life insurance unit has been charged with 87 counts of unlawfully selling life insurance policies over the phone.

National Australia Bank is set to cop a $1.18 billion hit in its full-year results including an extra $832 million in customer remediation costs related to dodgy insurance and the fees-for-no-service advice scandal.

Westpac and ANZ have followed the lead set by rivals Commonwealth Bank and NAB and will not pass on Tuesday's 0.25 per cent rate cut in full.

The Reserve Bank of Australia has cut the cash rate to a new record low of 0.75 per cent, with the board prepared to go even lower if the nation's economy does not respond.

Bankwest has announced the appointment of Sinead Taylor as the first female to lead the organisation in its 124-year history.

Hartleys has reported a big drop in annual revenue and net profit, making it the third major stockbroking firm in Perth to have its results hit by the sharp decline in corporate finance activity over the past year.

Perth-based health insurer HBF has posted a 53 per cent rise in its net surplus to $93.7 million, while profit at the state government-owned Insurance Commission of WA fell 27 per cent to $203.5 million, despite an improved return on its investments.

National Australia Bank will introduce 163 new roles in its business banking division, which it says is part of an Australia-wide customer growth strategy, but the jobs will almost entirely go to the eastern states.