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Latest news: Financial and Business Service

Scams costing Aussies $2 billion despite losses falling

Scams costing Aussies $2 billion despite losses falling

The amount Australians lost to scams fell by 25 per cent in 2024 to $2 billion as widespread campaigns to reduce their financial burden continue.

Customers tapping mad as watchdog warns on card charges

Customers tapping mad as watchdog warns on card charges

Customers tapping mad as watchdog warns on card charges

Customers tapping mad as watchdog warns on card charges

A huge number of complaints over common transactions has Australia's consumer watchdog warning businesses big and small to bide by the laws or risk a fine.

AMP's first-half profit falls 43pct to $150 million

AMP's first-half profit falls 43pct to $150 million

AMP's first-half profit falls 43pct to $150 million

AMP's first-half profit falls 43pct to $150 million

AMP shares have dropped by double digits after the wealth manager announced it made a $150 million first-half profit, down from $265 million a year ago.

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Changes to super to bolster transparency and quality

Changes to super to bolster transparency and quality

Retirees hoping to use their savings will be offered improved transparency and information as the government introduces changes to superannuation.

Home loans boost Macquarie as profit disappoints

Home loans boost Macquarie as profit disappoints

Weaker commodities and markets revenues have hurt profits at financial services group Macquarie but its growing mortgage book has paid dividends.

Long wait for refunds of 'gobsmacking' unlawful fees

Long wait for refunds of 'gobsmacking' unlawful fees

Everything from fine payments to marriage certificates have been hit with wrongful merchant surcharges in NSW over eight years.

Harvey Norman misled customers with 'interest-free' ads

Harvey Norman misled customers with 'interest-free' ads

Retail giant Harvey Norman misled consumers with a widespread ad campaign offering interest-free and no-deposit purchase options, the Federal Court has ruled.

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Fund sent $511k to CFMEU ahead of criminal allegations

Fund sent $511k to CFMEU ahead of criminal allegations

Fund sent $511k to CFMEU ahead of criminal allegations

Fund sent $511k to CFMEU ahead of criminal allegations

APRA dropped an investigation into a super fund that paid over $500,000 to the CFMEU but took action again after reports of the union's alleged criminal links.

Locked out of your business account? Log in and tell us

Locked out of your business account? Log in and tell us

Locked out of your business account? Log in and tell us

Locked out of your business account? Log in and tell us

Small businesses are fighting with tech giants after being locked out of accounts or waiting for payment and want a reboot on how their complaints are handled.

Top economist says Libs' housing plan is a bad idea

Top economist says Libs' housing plan is a bad idea

Top economist says Libs' housing plan is a bad idea

Top economist says Libs' housing plan is a bad idea

A leading economist has derided the coalition's plan to let people use super for housing as "one of the worst policy decisions" of his lifetime.

Fight to save jobs as The Star's casino empire teeters

Fight to save jobs as The Star's casino empire teeters

Fight to save jobs as The Star's casino empire teeters

Fight to save jobs as The Star's casino empire teeters

Star Entertainment's financial woes have fuelled concerns for the future of thousands of casino jobs.

APRA fight with CFMEU-linked super fund 'unreasonable'

APRA fight with CFMEU-linked super fund 'unreasonable'

APRA fight with CFMEU-linked super fund 'unreasonable'

APRA fight with CFMEU-linked super fund 'unreasonable'

Moves by the financial regulator to impose stricter conditions on a super fund connected with the CFMEU will be attacked in the Federal Court.

Senator, insurer clash over cyclone 'price-gouging'

Senator, insurer clash over cyclone 'price-gouging'

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.

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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.

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

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

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.

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'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.

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

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

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

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

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'

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.

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