The Reserve Bank has kept the official cash rate at a record low of 1.5 per cent despite noting Australian economic growth probably slowed in the second half of 2018.
A 33-year-old Perth accountant was today sentenced in the Perth District Court to four years’ jail for tax fraud, after obtaining and trying to obtain over $250,000 from his clients and the Australian Taxation Office.
Australia's number two lender, Westpac, has reported first-quarter unaudited cash earnings of $2.04 billion, with natural disaster insurance claims rising and mortgage delinquencies edging higher.
Reserve Bank of Australia board member Mark Barnaba will chair a new investment committee at not-for-profit health fund HBF, overseeing a $1.7 billion investment portfolio.
AMP's full-year profit has plummeted 97 per cent to a worse-than-expected $28 million after the beleaguered wealth manager set aside millions in customer remediation and reported weakness in its superannuation business.
Bendigo and Adelaide Bank shares have taken a dive after a 2.4 per cent dip in first-half profit, despite the lender hoping to benefit from the big four's public relations disaster at the royal commission.
The panel tasked with reviewing the Australian Prudential Regulation Authority will be led by former Australian Competition and Consumer Commission chair Graeme Samuel and includes Wesfarmers non-executive director Diane Smith-Gander.
NAB chief executive Andrew Thorburn and chairman Ken Henry are stepping down, becoming the highest-profile banking casualty of the financial services royal commission.
AMP has continued the overhaul of its upper ranks, replacing the head of its wealth management unit days after the release of the royal commission's final report.
Commonwealth Bank of Australia's first-half cash profit has fallen 2.1 per cent to $4.676 billion, weighed down by Australia's slowing property markets.
Shares in Perth-based Australian Finance Group and in ASX-listed Mortgage Choice plunged today on concerns the mortgage broking sector will be one of the biggest losers from the banking royal commission, which recommended the banning of commissions paid by lenders to brokers.
National Australia Bank chief executive Andrew Thorburn says he is "more determined than ever" to lead the bank despite strong criticism from Kenneth Hayne in his final royal commission report.
The current and former prime ministers agree they waited too long to call the banking royal commission but the treasurer says it's time to look forward, not back.
The banking sector has been told it "must change forever" for forcing the Australian community to pay an immense financial and emotional price over many years.
Insurance broker Gallagher has recently completed two bolt-on acquisitions in Perth as the sector readies for a merger of two of the largest global players.
A New York-based hedge fund has moved to majority ownership of specialist business lender Radium Capital after purchasing a 50 per cent stake in the Perth-based company.
Sheffield Resources has appointed global investment bank UBS as its corporate adviser to help assess potential investments by a strategic partner in the Thunderbird mineral sands project in the Kimberley.
Stockbroking and funds management company Euroz has foreshadowed a half-year net loss after investment losses offset a gain in underlying cash earnings.
National Australia Bank is scrapping its overhauled executive pay structure in response to an overwhelming first strike in which more than 80 per cent of shareholders voted against it.
The nation's banking regulator says it will remove a cap on interest-only loans for residential property, on the grounds that the measure had reached its objective of curbing higher-risk lending practices.
P&N Bank is considering a merger with regional east coast credit union bcu, which is about half the size of the Perth-based lender, to form a combined group with a $6 billion asset base and 150,000 customers across the country.
QBE Insurance has announced a three-year operational efficiency program targeting savings of S130 million in 2021, with the company also flagging better profits in 2019.
IOOF Holdings' managing director and chairman have stepped aside following moves by the prudential regulator to disqualify the beleaguered wealth manager's top brass.
