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Latest news: Financial and Business Service

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.

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.

ASIC loses case over comparison site's crypto service

ASIC loses case over comparison site's crypto service

ASIC loses case over comparison site's crypto service

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.

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Relief for Aussies paying billions extra at the bowser

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

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.

Interim PwC boss 'disappointed' to leave mid-crisis

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

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.

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Reserve Bank wants to keep 'broad coverage' of ATMs

Reserve Bank wants to keep 'broad coverage' of ATMs

Reserve Bank wants to keep 'broad coverage' of ATMs

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

Indigenous people record high rates of financial stress

Indigenous people record high rates of financial stress

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 endorse agreements, strike averted

Chevron workers endorse agreements, strike averted

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

Bank boss tips living costs to ease, defends big profit

Bank boss tips living costs to ease, defends big profit

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

Consulting firms' problems fuelled by pursuit of growth

Consulting firms' problems fuelled by pursuit of growth

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".

Feeble retail sales growth reflects stretched consumers

Feeble retail sales growth reflects stretched consumers

Feeble retail sales growth reflects stretched consumers

Feeble retail sales growth reflects stretched consumers

Consumers appear to be spending more cautiously in a sign the Reserve Bank's mission to reduce inflation is working as intended.

Great Southern banks profit, readies microbusiness move

Great Southern banks profit, readies microbusiness move

Great Southern banks profit, readies microbusiness move

Great Southern banks profit, readies microbusiness move

Great Southern Bank will launch a modern platform for under-served microbusinesses in partnership with Sydney fintech Constantinople this year.

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Magellan names new chairman amid big drop in profit

Andrew Formica will take over as Magellan chairman from Hamish McLennan as the fund manager announced its full-year profit dropped 57 per cent to $174 million.

Fossil fuel finances drying up as CBA cuts support

Australia's energy transition has received a significant boost after CBA, the nation's biggest lender, ruled out direct financing of oil and gas projects.

CBA posts record profit as mortgage borrowers cling on

As rising interest rates boost Commonwealth Bank profits, consumers appear relatively resilient with mortgage arrears remaining low.

Suncorp Group posts bumper jump in full-year profit

Suncorp Group says it still hopes to sell its banking division to ANZ but regulatory delays will cost it between $75 million and $100 million.

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PwC sells government arm amid questions over conflict

PwC Australia and Allegro Funds have agreed on terms for the sale of the former's government consultancy business to the private equity firm for a nominal $1.

Tainted PwC partners and staff to be publicly named

As PwC appoints a new CEO and offloads its government business, an inquiry has heard an investigation into the tax scandal will name culprits.

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