National Australia Bank and ANZ Banking Group have both cut their savings rates again in the wake of the Reserve Bank of Australia's decision to reduce the interest rate to 1.0 per cent.
The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.
The big four banks will have longer than expected to raise extra capital to absorb potential losses after the prudential regulator amended its proposed framework for minimising the fallout from failed institutions.
Deutsche Bank has confirmed plans to wind down its Australian equities division as part of a global restructure, but is yet to comment on overall job losses across local operations.
APRA has told lenders they can immediately change the way they assess customers' ability to meet mortgage repayments in Australia's new low-interest paradigm.
An internal investigation is under way at the corporate watchdog over the collapse of investment company Sterling First, which Business News first revealed had entered administration last month.
National Australia Bank says it's putting its money where its mouth is by allocating $2 billion to boost high-growth tech companies over the next five years.
Shaw and Partners has acquired Perth-based financial advisory and planning firm DJ Carmichael, which has approximately $650 million funds under its advice.
The Australian Securities and Investment Commission has begun civil proceedings against Perth-based RM Capital, alleging that an authorised representative for the firm was engaged in conflicted remuneration.
The Tax Practitioners Board (TFB) announced this morning that it had terminated the tax agent registration of Peter Moltoni, following an investigation into the Perth accountant’s ties to a shell company in the British Virgin Islands.
The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial advice, following his conduct as a representative of Westpac and The Financiallink Group.
The Reserve Bank of Australia has cut the cash rate to 1.25 per cent, a day after CoreLogic data revealed Perth house prices continue to fall more sharply than other state capitals.
Wealth manager AMP has been hit with a class action lawsuit for allegedly charging superannuation fund members unjustifiably high fees for an extended period of time.
Advanced Share Registry has estimated its profit it will decrease by around $350,000 this financial year, which it said is partly due to a reduction in corporate activity.
Some financial institutions may face additional capital requirements after the prudential regulator said many show the same weak risk-assessment capabilities it found last year at the Commonwealth Bank of Australia.
Commonwealth Bank-owned Bankwest is slashing its three-year owner-occupier mortgage rate as lenders chase an ever decreasing number of suitable home loan customers.
The Israel Securities Authority says Israel may expand its dual-listing arrangements to include Australia as it tries to connect with more foreign markets and draw investors to recover trading volumes lost a decade ago.
Commonwealth Bank of Australia's provisioning for customer remediation and responding to the royal commission has passed $2 billion after the lender set aside another $714 million in the third quarter.
Independent corporate advisory firm Azure Capital has announced two major changes, with French banking group Natixis buying a majority stake while sister company Azure Consulting will be bought out by its four partners.
ANZ Banking Group has beaten expectations to lift first-half cash profit two per cent to $3.56 billion but warned subdued credit growth, competition and compliance costs will keep bank sector earnings under pressure "for the foreseeable future".
Pioneer Credit’s shares have surged 27.4 per cent to close at $2.51 each, after the company confirmed it has received a takeover proposal at a “material premium” to its current share price.
The corporate regulator has banned a Perth accountant from providing financial services for six years after an investigation found he bought and sold shares for clients so companies could meet the minimum requirement to be listed on the stock exchange.
Housing finance provider Australian Finance Group says lending for homes in the first three months of 2019 in Western Australia has plunged to the lowest level since it began tracking mortgage values in mid-2012.
A former insurance broker who admitted funnelling almost $200,000 owed to clients into his own bank accounts has been sentenced to two years and nine months imprisonment.
