Financial Services

Westpac has followed rival National Australia Bank by raising its variable mortgage rates for owner-occupiers and investors.

National Australia Bank is hiking its standard variable mortgage rate by 0.07 percentage points for owner-occupiers, and by even more for investors.

ANZ Banking Group says it will try to find new jobs for the approximately 180 employees at its share trading business that has been sold to UK-listed CMC Markets.

Australian Finance Group chief executive Brett McKeon will step aside after 23 years at the helm of the mortgage broker, after leading the company from its founding to an IPO in 2015 and winning the 2006 EY Entrepreneur of the Year Award for WA.

QBE chief executive John Neal has had his pay docked by more than $500,000 over what the insurer called his "personal decisions", despite him leading the company to a 22 per cent increase in full-year profit.

Stockbroker and funds manager Euroz has beaten expectations for its interim profit result, which was achieved on the back of an improved performance of its Euroz Securities business and increase in the share prices of its listed investment companies.

ANZ Banking Group chief executive Shayne Elliott is optimistic about prospects for the rest of the financial year after the lender lifted its first-quarter cash profit 31 per cent to $2 billion.

Medibank Private has lifted half-year profit 1.9 per cent to $231.9 million as higher investment income offset lower returns from its core health insurance business.

WHL Energy has cleared the way to reinvent itself as a technology business after raising $5 million from investors ahead of its reverse takeover of Perth-based Quantify Technology.

Wyllie Group-backed Viburnum is set to receive a big payout when fintech Rubik Financial, in which it is a substantial shareholder, is acquired by Geneva-based banking and finance software firm Temenos for $68 million.

Commonwealth Bank of Australia is lifting some of its mortgage rates as it tries to rein in stubbornly high investor lending growth and keep on the right side of the regulator.

KordaMentha managing partner Cliff Rocke has taken on a new role, joining the Perth office of the advisory firm that is handling the collapse of residential construction group Builton.

Given the passion Rob Bransby feels for healthcare, it is hard to believe he is willingly stepping down from his CEO role at HBF.

Macquarie Group remains on course for a full-year profit in line with last year's record $2.1 billion despite a reduced third-quarter contribution from its capital markets-facing businesses.

National Australia Bank has warned it will continue to face increased funding costs and competition after first-quarter unaudited cash earnings slipped about 1 per cent to $1.6 billion

National Australia Bank has returned nearly $35 million to 220,000 superannuation members who were charged for advice they did not get, while Bankwest refunded more than $4.9 million in mortgage interest payments after overcharging about 10,800 offset account customers for almost a decade.

A local insurance broker and a data analytics specialist have teamed up to offer grain growers the same kind of cover as energy companies and construction projects.

The lure of increasingly affordable commercial rents in the CBD has drawn boutique investment advisory firm Jindalee Partners from Subiaco.

Consumers are optimistic about their future finances, but they're still worried about the contraction of the economy reported last month, Westpac says.

National Australia Bank has followed its big four rivals by raising the rates on several of its fixed-rate home loans.

A former law firm manager has been jailed for six and a half years after siphoning $2.1 million from trust accounts to fund her gambling habit.

ANZ Banking Group has announced its second asset sale in two weeks as it continues efforts to streamline the business and bolster its capital.

Stockbroker and funds manager Euroz has foreshadowed a strongly improved interim profit, driven mainly by the performance of Euroz Securities and the increased share prices of its listed investment companies.

Two listed investment companies controlled by Euroz Securities will pay out nearly $5 million in half-year dividends, with Westoz Investment Company announcing a 3 cent per share payout for investors while Ozgrowth will distribute 0.25 cents per share.

ANZ is continuing to offload Asian assets with the sale of its 20 per cent stake in Shanghai Rural Commercial Bank for $1.84 billion.

National Australia Bank has called for greater leadership from government and more collaboration with business to help lift slow economic growth and create jobs.

The Federal Court has approved multi-million dollar fines slapped on ANZ Banking Group and Macquarie Bank for attempted fixing of the benchmark rate for the Malaysian ringgit, reaching the decision only "with some hesitation".

Commonwealth Bank of Australia is raising its standard variable rates for investor mortgages by 0.07 per cent following earlier raises to its fixed-rate products.

A former Get Approved Finance broker has had his appeal denied after a tribunal backed an earlier decision to permanently ban him from the industry.

The Reserve Bank of Australia is expecting a negative blip in economic growth at the end of this year but is not overly concerned about it.

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

National Australia Bank and Westpac have raised interest rates on certain types of mortgages as Australia's biggest lenders seek to offset some of the pressure on their margins.