Financial Services

The Reserve Bank of Australia's finely balanced decision to cut rates this month makes the next cut more likely to be in August.

ANZ Banking Group is cutting 200 jobs, blaming tough economic conditions and low lending growth.

More than 1,000 Western Australian companies went into external administration in the 12 months to March, an increase of nearly 36 per cent on the same period last year, according to the latest ASIC data.

A growing uptake of technology for farming practices is likely among the state’s agribusinesses in coming months, according to the latest Commonwealth Bank Agri Insights survey.

Creditors of movie streaming service Quickflix changed administrators to Deloitte, just two weeks after the company voluntarily appointed partners from Ferrier Hodgson.

Another head has rolled in the corporate watchdog’s investigation into Victoria Park-based car financing business Get Approved Finance, with Grant Parker permanently banned from the industry.

Commonwealth Bank of Australia has lifted third quarter profit about 4.5 per cent to $2.3 billion but has followed its big bank rivals by reporting a rise in bad debts.

The imminent departure of four heavy hitters in the public service couldn’t have come at a worse time for the state government.

Philip Lowe will take over the reins as the governor of the Reserve Bank of Australia when Glenn Stevens retires in September.

National Australia Bank shares jumped more than 4 per cent after the lender lifted first-half earnings 6.5 per cent to $3.31 billion.

Small companies hoping to list on the stock market are facing tougher conditions, with more than a dozen announced deals in Western Australia hitting problems this year and the ASX foreshadowing tighter regulation of new deals.

The Reserve Bank of Australia has cut the cash rate to a record low to help battle faltering inflation.

ANZ Banking Group has cut its dividend for the first time since the GFC after its first-half profit slumped by nearly a quarter.

Mortgage broking wholesaler Australian Finance Group has upgraded its profit outlook for the 2016 financial year on the back of continued growth.

The corporate watchdog has permanently banned two local brokers from providing financial services for misconduct, while winding-up three abandoned companies based in Western Australia.

Local financial services provider Pioneer Credit has raised nearly $6 million from investors as it seeks to further grow its business.

SPECIAL REPORT: A flurry of deals over the past fortnight, including four acquisitions by international companies expanding in Western Australia and the year's largest capital raising, has added life to a flat corporate finance market. 

ANZ Banking Group will refund about $5 million to around 25,000 customers, including pensioners, after botching their account fees.

Medibank Private has hired Craig Drummond, an experienced banker who helped transform National Australia Bank, to run Australia's biggest private health provider.

Former Patersons Securities WA state manager Lewis Fellowes has been charged with using nearly $1.6 million in clients’ money for his personal use, and could be looking at up to 12 years behind bars.

A local financial services firm has been unable to secure its clients’ data following the failure of its east coast-based execution broker.

Rob Bransby has announced he will no longer leave his post as managing director of the state’s largest health insurer to become chief executive of Perth Racing.

The share market has edged higher despite weaker commodity prices and falls on other major markets.

The Australian stock market is trading lower after materials and healthcare stocks weighed on Wall Street in a second straight day of quiet trading.

CUA has enjoyed a strong lift in new home loans and a rise in half-year profit, but its boss says the result was held back by restrictions on investor lending.

Perth-based financial services provider Pioneer Credit has acquired an online mortgage broking company for an undisclosed sum.

Australia's largest payday lender, Perth-based Cash Converters International, has returned to the black and begun scaling back its troubled business in Britain.

Mortgage broking wholesaler Australian Finance Group has continued its growth run with an increase in profit for the six months to December.

The Australian share market has opened slightly higher after Wall Street performed better overnight amid increased oil prices.

Financial services provider Pioneer Credit says it’s on track for a record FY16, after delivering a 105 per cent rise in half-year profit.

Creditors of failed investment bank Lehman Brothers (Australia), including about 10 local councils in Western Australia, are likely to get a return of about 80 cents in the dollar after reaching a settlement with the owner of ratings agency Standard & Poor’s.

The Reserve Bank appears upbeat on the home front but won't rule out another interest rate cut in the face of an uncertain global economy.