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Latest news: Financial and Business Service

Senator, insurer clash over cyclone 'price-gouging'

Senator, insurer clash over cyclone 'price-gouging'

A major insurer has been accused of making big profits during natural diasters at an inquiry into the impacts of climate change on the insurance sector.

QBE doubles half-year net profit to $US802 million

QBE doubles half-year net profit to $US802 million

QBE doubles half-year net profit to $US802 million

QBE doubles half-year net profit to $US802 million

Insurance group QBE has announced an almost two-fold improvement in its first-half profit on higher premiums and favourable investment returns.

Insurers leaving flood-prone communities high and dry

Insurers leaving flood-prone communities high and dry

Insurers leaving flood-prone communities high and dry

Insurers leaving flood-prone communities high and dry

Regional councils at risk from flooding have revealed the impact of rising insurance costs on their communities at a Senate hearing.

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Transurban eyes raising dividend as toll traffic rises

Transurban eyes raising dividend as toll traffic rises

Transurban says it expects to raise its 2024/25 distribution by five per cent, after making $2.6 billion in operating earnings in 2023/24.

AMP shares surge on 'transformational' advisor deal

AMP shares surge on 'transformational' advisor deal

The once-mighty financial services company AMP has announced a "transformational" joint venture for the loss-making advice division.

Property giant Mirvac warns of 'challenging' conditions

Property giant Mirvac warns of 'challenging' conditions

Mirvac is investing in build-to-rent apartments and industrial sites as it slashes the value of high-rise offices and warns of ongoing challenging conditions.

'Landmark' greenwashing case slugs super giant $11.3m

'Landmark' greenwashing case slugs super giant $11.3m

A superannuation company has been fined more than $11 million for engaging in greenwashing by misleading consumers about the sustainability of its investments.

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Aussie 'FinFra': Magic wand for technology trailblazers

Aussie 'FinFra': Magic wand for technology trailblazers

Aussie 'FinFra': Magic wand for technology trailblazers

Aussie 'FinFra': Magic wand for technology trailblazers

Australia faces a deadline for decommissioning the decades-old payments system for handling wages, bills and welfare as the velocity of the economy increases.

Family claims $1.4m loan 'blighted' 89yo woman's life

Family claims $1.4m loan 'blighted' 89yo woman's life

Family claims $1.4m loan 'blighted' 89yo woman's life

Family claims $1.4m loan 'blighted' 89yo woman's life

Pepper Money has been sued over an "unjust" $1.4 million home loan which allegedly threw an elderly woman and her family into financial and emotional distress.

Pacific banking bolstered with federal $6 million boost

Pacific banking bolstered with federal $6 million boost

Pacific banking bolstered with federal $6 million boost

Pacific banking bolstered with federal $6 million boost

Banking services in Pacific nations will be strengthened with $6.3 million from the federal government, as Australian financial services are urged to stay.

ANZ named and shamed for charging dead clients

ANZ named and shamed for charging dead clients

ANZ named and shamed for charging dead clients

ANZ named and shamed for charging dead clients

The ANZ bank has been publicly named and shamed for charging fees to dead clients and ignoring requests for information from their representatives.

Lender fined $16m for overcharging vulnerable customers

Lender fined $16m for overcharging vulnerable customers

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.

Super fund misled consumers through 'greenwashing'

Super fund misled consumers through 'greenwashing'

Super fund misled consumers through 'greenwashing'

Super fund misled consumers through 'greenwashing'

An Australian super fund engaged in "greenwashing" by falsely telling consumers it did not invest in coal mining, oil tar sands, gambling or Russian companies.

Cocaine-fuelled adviser 'disgraceful' in duping clients

Cocaine-fuelled adviser 'disgraceful' in duping clients

Cocaine-fuelled adviser 'disgraceful' in duping clients

Cocaine-fuelled adviser 'disgraceful' in duping clients

A financial adviser who ripped off almost $500,000 from clients was a drug user who spent about $3000 a week on cocaine, a court has heard.

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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.

ASIC loses case over comparison site's crypto service

Finder has successfully defended a lawsuit brought by the corporate regulator, which was seeking penalties over its crypto asset-related product.

Relief for Aussies paying billions extra at the bowser

Car rental firms will help drive electric vehicles into the used car market under a policy package designed to stop Aussies paying too much for transport.

Insurance loopholes leveraged for financial abuse

Perpetrators of domestic violence have leveraged insurance policies to financially control victims, prompting calls for insurers to do more.

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Interim PwC boss 'disappointed' to leave mid-crisis

The former acting head of PwC says she'd wanted to lead the company after a tax leak scandal, but wasn't surprised an international recruit was brought in.

Investment scam crackdown pays dividends, says minister

A government crackdown on investment scams led by the National Anti-Scam Centre has achieved strong results, Financial Services Minister Stephen Jones says.

Reserve Bank wants to keep 'broad coverage' of ATMs

Reserve Bank governor Michele Bullock says cash use is sliding and putting pressure on the business models that underpin access to notes and coins.

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.

Chevron workers endorse agreements, strike averted

Chevron workers in West Australian gas plants have approved a series of draft enterprise agreements rather than go ahead with a planned strike.

Bank boss tips living costs to ease, defends big profit

Most customers of Australia's biggest bank are well positioned despite a cost of living crisis, its chief says after the company booked a $10.2 billion profit.

Consulting firms' problems fuelled by pursuit of growth

A Senate committee has been told stories of toxic work culture and conflicts of interest, which experts say are driven by the "aggressive pursuit of growth".

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