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Latest news: Finance

Scams help push financial complaints to record levels

Scams help push financial complaints to record levels

Financial complaints have reached a record high after disputes to the ombudsman service went up a further nine per cent to more than 105,000 in 2023/24.

Has the latest IT outage quietly slowed the cash crash?

Has the latest IT outage quietly slowed the cash crash?

Has the latest IT outage quietly slowed the cash crash?

Has the latest IT outage quietly slowed the cash crash?

The CrowdStrike outage exposed vulnerabilities in digital payment systems and shows Australia is decades away from a completely cashless society, experts say.

Pump and dump share scheme 'tried to rig stock prices'

Pump and dump share scheme 'tried to rig stock prices'

Pump and dump share scheme 'tried to rig stock prices'

Pump and dump share scheme 'tried to rig stock prices'

Members of an encrypted chat group tried to artificially inflate share prices before selling the stock in a 'pump and dump' scheme disrupted by the regulator.

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Bonza reaches end of tarmac as budget carrier wound up

Bonza reaches end of tarmac as budget carrier wound up

Creditors have voted to liquidate embattled airline Bonza with more than $110 million believed to be owed to creditors, workers, landlords and the tax office.

Lender fined $16m for overcharging vulnerable customers

Lender fined $16m for overcharging vulnerable customers

An overseas-controlled credit provider has been fined $16 million for entering contracts with banned fees and overcharging Australian consumers.

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later laws introduced to shield vulnerable

Buy now, pay later loan providers will soon be subject to regulations aiming to protect at-risk Australians from financial harm.

Green bank unlocks cheap loans for home energy upgrades

Green bank unlocks cheap loans for home energy upgrades

Some $60 million in cheap loans is up for grabs as part of a $1 billion federal fund to encourage homeowners to install solar panels and batteries.

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BHP walks away from $49 billion pursuit of rival Anglo

BHP walks away from $49 billion pursuit of rival Anglo

BHP walks away from $49 billion pursuit of rival Anglo

BHP walks away from $49 billion pursuit of rival Anglo

BHP Group has abandoned its $49 billion takeover bid for Anglo American after the latter rejected an extension for more negotiations.

Casino risk officer concedes Star fraud threat remains

Casino risk officer concedes Star fraud threat remains

Casino risk officer concedes Star fraud threat remains

Casino risk officer concedes Star fraud threat remains

The Star's head of risk concedes the threat of the Sydney casino being defrauded remains, as an inquiry examines whether it is suitable to regain its licence.

Casino bosses resigned over disillusionment with chief

Casino bosses resigned over disillusionment with chief

Casino bosses resigned over disillusionment with chief

Casino bosses resigned over disillusionment with chief

Former executives at a Sydney casino have accused their ex-boss of fostering exclusion and secrecy at the beleaguered company, which led to them leaving.

Financial fakery, toxic culture raised at Star inquiry

Financial fakery, toxic culture raised at Star inquiry

Financial fakery, toxic culture raised at Star inquiry

Financial fakery, toxic culture raised at Star inquiry

The latest damning allegations against The Star include claims the board sought to fight an inquiry and an executive urged the manipulation of company finances.

Casino bosses spied and mulled 'war' against regulator

Casino bosses spied and mulled 'war' against regulator

Casino bosses spied and mulled 'war' against regulator

Casino bosses spied and mulled 'war' against regulator

Star bosses privately discussed getting rid of their casino manager despite publicly declaring they were working cooperatively to regain the casino's licence.

Two cryptocurrency companies collapse owing $160m

Two cryptocurrency companies collapse owing $160m

Two cryptocurrency companies collapse owing $160m

Two cryptocurrency companies collapse owing $160m

Two separate Australian cryptocurrency companies have collapsed while federal court proceedings are being pursued against the directors of the businesses.

Regulator bares teeth at fugitive influencer 'ASX Wolf'

Regulator bares teeth at fugitive influencer 'ASX Wolf'

Regulator bares teeth at fugitive influencer 'ASX Wolf'

Regulator bares teeth at fugitive influencer 'ASX Wolf'

Bankruptcy orders have been imposed on Tyson Scholz, an Instagram finfluencer on the run from the law and banned from selling stock tips online.

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Class action launched over 'unfair' Toyota dealer loans

A Melbourne law firm is seeking compensation for Toyota customers who it says were ripped off by unfair loans through car dealers.

Drivers on struggle street fuel Ampol's 'mega profit'

Refinery operator and service station chain Ampol has been accused of delaying pump price relief for consumers already stung by a cost of living crisis.

Stamp duty costs climb as home buyers struggle to save

Market analysis has revealed the rising cost of stamp duty on property purchases - and its impact on people trying to break into the housing market.

Westpac to pay millions after 'unconscionable conduct'

After being taken to court by the corporate watchdog, Westpac has been penalised for engaging in in unconscionable conduct in 2016.

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ME Bank fined $820k for misleading home loan customers

ME Bank has admitted sending incorrect letters to hundreds of home loan customers because of a technical software issue.

Facebook pleads not guilty in Twiggy clickbait battle

Facebook parent company Meta has pleaded not guilty to charges brought by billionaire Andrew Forrest over an alleged cryptocurrency clickbait advertising scam.

Airbnb faces $30m bill over Australian dollar confusion

A judge has fined Airbnb $15 million over its misleading and deceptive conduct towards Australian customers, who may get millions more in compensation.

NAB chair defends bank's climate pledges at fiery talks

Shareholders have grilled NAB's chairman over the banking giant's commitment to climate change at a heated annual general meeting.

Parking meter app contract lacked transparency, value

The NSW Audit Office has slammed a contract entered into under the previous coalition government without officials engaging in a tender process.

Indigenous people record high rates of financial stress

Financial complaints from First Nations people have soared by 13 per cent in a year and the rates of hardship experienced are causing a significant concern.

Mercer Financial fined $12m over fees for no service

Mercer admitted inadequate fee disclosures and to charging 761 clients a combined $4.7 million in fees for services they never received.

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