Financial Services

Coles chief John Fletcher has handed back $1 million of his $4.57 million paypacket. The Australian Financial Review

BOUTIQUE corporate advisory group, New Holland Capital Pty Ltd, has recruited Investec Bank executive Jason Brewer to run its newly established Perth office.

San Francisco-based Franklin Resources Inc has returned to Iluka Resources Ltd's substantial shareholder list.

Australian businesses have seen a gradual improvement in the promptness of business-to-business trade payments over the last quarter, but the average payment period in June is still at around 54 days, keeping the pressure on.

Western Australian health insurance giant HBF has taken a major step in its strategy of offering a wider range of financial services by signing a memorandum of understanding with Bank of Queensland.

Fast-growing cash flow lender Benchmark Debtor Finance has been acquired by two Sydney-based financial institutions, Allco Principal Finance and Balmain NB.

A Pilot program at Western Australia’s dominant health fund, HBF, could soon be competing with local financial advisers if all goes to plan.

The West Coast Eagles boasted a top line-up in the 1990s and several of their players have gone on to business success.

WEST Coast Group has continued its rapid growth with the recruitment of former Mellon State manager Adrienne Hall.

PERTH law firm Steinepreis Paganin worked on more Initial Public Offerings last year than any other law firm in the country, a national survey has found.

Dozens of Western Australian small business owners have completed Curtin Business School's growth program. Mark Beyer spoke to two graduates about the lessons they have learned.

WHEN Kerbing West director Brian Kennewell enrolled in Curtin Business School’s growth program, he had more than 20 years of business success behind him.

OCKERBY Real Estate, one of Western Australia’s largest residential real estate firms, is switching its banking business from BankWest to Challenge Bank.

THE State Government has confirmed that three types of stamp duty will be abolished on January 1.

FORMER Ernst & Young tax partners Dan Fogarty and Ian Crisp have joined forces to establish a specialist tax practice targeting the corporate and resource sectors.

THE latest round of changes to State Government taxes could lead to a significant shift in the way businesses are bought and sold.

OSBORNE Park-based finance broker Connaught Capital has become Centrepoint Finance after linking up with the national commercial finance group of the same name.

MYAREE company Tasman Oil Tools changed its bank last year – a move that makes it an exception among small and medium sized companies.

THE Federal Government has warned there is just four months until the end of the transition to the Financial Services Reform Act.

PLANNED revisions to Australian Stock Exchange listing rules are likely to change capital raising activity and may also affect takeover tactics, a recent seminar in Perth has been told.

BUSINESS software company MYOB has partnered with credit management firm D&B to launch a range of account management tools for small and medium sized businesses.

FINANCIAL planning group Associated Planners has taken an industry lead by refusing to accept ‘soft-dollar’ benefits from fund managers.

ACCOUNTING bodies have called on the Australian Tax Office to be more lenient with small and mid sized businesses that breach their GST obligations.

THREE Western Australian companies have been given a five-star rating in a national survey of corporate governance practices.

BUSINESS borrowers should review their cash flow projections to assess the impact of higher interest rates, accountants and finance brokers have recommended.

COMMERCIAL lawyer Neal Fearis believes the Australian Securities and Investments Commission has tightened its scrutiny of schemes of arrangement during the past year.

THE use of schemes of arrangement has attracted substantial criticism this year, particularly in relation to the takeovers of BankWest and MIM.

ST John Ambulance WA has outsourced its $45 million superannuation fund to Acumen Super.

A MAJORITY of chief financial officers is yet to identify the impact of the planned introduction of International Financial Reporting Standards (IFRS) in Australia, according to a new survey.

CREDIT mangers have been advised to constantly monitor their exposure to customers so they can act quickly if problems arise.

CREDIT managers attending a conference last week had to deal with the fallout from a struggling telecommunications company.

THE Federal Government’s revised corporate law reforms have received a cautious welcome from accountants, auditors and company directors.