Financial Services

Accounting giant PwC Australia has appointed Perth partner Amy Lomas as its new chief economist.

The head of Australia's corporate watchdog says in the past financial year a record number of businesses have been placed into administration.

KPMG says a 3.9 per cent decline in revenue was largely due to poor conditions in its consultancy business, as it revealed a drop of more than 570 jobs during FY24.

The corporate regulator is suing ASX Limited for allegedly making misleading statements about the progression of its paused clearing house project.

Continued quiet equity capital market activity has tempered Euroz Hartley’s full year financial results, while it focuses on growing its funds under management.

PwC boss Kevin Burrowes “misled” Senator Deborah O’Neill in not disclosing $1.2 million in payments from the consulting firm’s parent company, a joint committee into the PwC tax scandal heard.

ASIC has welcomed the big fine in its first greenwashing case before the courts, in what was the second regulatory blow for Mercer this year.

Mercedes Construction, a commercial builder which claims to be linked to luxury Perth home builder Zorzi Builders, has brought in an administrator.

Business News has significantly overhauled the BN30 index, a proxy for the WA economy, with seven new additions, prompted by the exit of takeover targets MMA Offshore, APM and Decmil.

The country’s annual inflation rate has increased to 3.8 per cent, up from the 3.6 per cent recorded in the previous quarter, recent Australian Bureau of Statistics data shows.

As economic headwinds bite, there’s a growing collection of private capital waiting to be deployed.

Carbon abatement company Salubris has revealed a deal with traditional owners in the Goldfields to generate credits and secure land tenure.

Deloitte Australia has posted a 2.4 per cent revenue decline and revealed 700 job losses - but the WA arm of the business has bucked the trend with an 18 per cent uptick in revenue.

Business News’ corporate finance survey reveals the leading financial and legal advisers working on major transactions in WA.

Stockbroking firm Argonaut has boosted its team with the addition of three recruits led by dealmaker Rob Telford while also reporting strong growth in operating revenue.

KPMG Australia will undergo a restructure of its legal arm by axing its separate commercial law practice, announcing the move a month after flagging hundreds of job cuts.

Multi-generational farming families are making the switch from custodians of land to stewards of wealth.

High interest rates, stubborn inflation and looming industrial relations battles are tipped to shape the year.

Perth fund Purpose Ventures led a $3 million raising for Victorian robotics company Andromeda.

The Reserve Bank of Australia has again held the country’s cash rate steady at 4.35 per cent, meeting economists’ expectations.

Treasurer Rita Saffioti and the Finance Sector Union have hashed out concerns over the impending closure of Bankwest branches and hundreds of job cuts.

A surge in private credit should have alarm bells ringing in WA, especially among those for whom the name “Rothwells” is triggering.

Beyond Bank Australia and Police & Nurses are heading towards a merger by next year, with their combined assets to be worth almost $20 billion.

Australia’s GDP had a modest rise in the March quarter but the country still experienced weak economic growth, the Australian Bureau of Statistics found.

Australian fintech junior Findi have posted a record 22 per cent lift in revenue driven by the strong performance of its core ATM business in India.

Rival fund managers are perplexed by the scale of the debt left by NWQ Capital Management, expressing surprise at the almost $20 million owed, including to four prominent Perth business figures.

Western Australia-focused corporate firm Euroz Hartleys has announced an improved net profit after tax, due to an uptake in equity capital market activities.

Investors in a product run by collapsed fund manager NWQ Capital Management are owed almost $1.6 million, after being given a guarantee of capital return following shocking losses.

A who's who of Perth’s legal, advisory and wealth management sectors have been caught up in the collapse of local fund manager NWQ Capital Management.

The Reserve Bank of Australia continues to hold the cash rate steady at 4.35 per cent at its third board meeting of the year.

The number of Australian companies hitting the wall is expected to exceed 10,000 by the end of the financial year, underpinned by the collapse of construction firms.

Major consulting firm EY has made another round of redundancies, cutting 148 roles from its Oceania financial services and consulting business.