AMP has had $1 billion wiped off its market value during a royal commission appearance in which the wealth management giant admitted to charging clients for advice they never received and then lying about it to the corporate watchdog.
Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong result.
Perth-based bike business Steadyrack has installed more than 600 bike racks at Woodside's new Capital Square office building as cycling in the city grows in popularity.
Financial advisers at the big banks have been found to be biased towards their employer's products, which in some cases has left their customers worse off.
More than $1 billion has been wiped off AMP's market capitalisation after the wealth manager announced a $668 million impairment due to ‘constant deterioration' in the insurance market.
The big four banks and AMP are likely to refund at least $178 million to more than 200,000 customers who did not receive financial advice for which they were charged.
SPECIAL REPORT: Activ Foundation and the Royal Flying Doctor Service are Western Australia's two largest not-for-profit charities, yet they have very different approaches to philanthropy and fundraising.
Sharp timing on commodities stocks has helped drive a strong result for investment manager Katana Capital, with a 187 per cent increase in revenue to $8.3 million, from $2.8 million the previous financial year.
