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Showing 71 - 80 of 4104 results for "Commonwealth"

Australian Retirement Trust completes Woolworths, Endeavour merger

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... arrangements to ART, bringing in $8 billion and 28,000 members. ART is also in the process of acquiring funds including Commonwealth Bank Group Super, AvSuper, and Alcoa Super. Woodall noted these transfers are progressing and slated for completion during ...

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
Westpac has posted a net profit of $1.8 billion for 3Q23, driven by steady operating revenue and disciplined margin management. Despite inflationary headwinds which led to a rise in expenses by approximately 5% for the second half of 2023 compared to ...

Crypto lender sentenced for false licence

CHLOE WALKER  |  FRIDAY, 18 AUG 2023
... to believe that they had the protections afforded by such a licence," she said. The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

ASIC appeal in CBA, CFS case dismissed

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
Having had its initial conflicted remuneration case against Commonwealth Bank and Colonial First State dismissed in September 2022, ASIC's appeal of that decision has also now been dismissed. The case was first brought by ASIC in June 2020 and related ...

Liquidate $250bn Future Fund, says think tank

CASSANDRA BALDINI  |  THURSDAY, 10 AUG 2023
... superannuation funds might have on the governance of Australian businesses. Yet nary is there a word of the ability of the Commonwealth to exercise a similar influence," Burshtein said. Established in 2006, Future Fund's primary objective was to ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
Commonwealth Bank's $1.2 billion bad advice remediation bill represented a small fraction of its whopping $10.2 billion profit, the full-year financial results show. The total customer remediation amounted to a huge $2.6 billion in the 2023 financial ...

Former director pleads guilty to super misuse

CASSANDRA BALDINI  |  FRIDAY, 4 AUG 2023
... highest maximum penalty for such offences is up to 15 years imprisonment. This matter is being prosecuted by the Commonwealth Director of Public Prosecutions and will return to court in December for a plea hearing.

CommSec launches global share trading platform

JAMIE WILLIAMSON  |  MONDAY, 31 JUL 2023
... The new service will initially be made available on the CommSec website, to be made available via the app in time. Commonwealth Bank also plans to integrate the functionality into its CommBank app. CBA said the service offers fast account set-up and ...

Macquarie reports decline in earnings amid weaker trading

ANDREW MCKEAN  |  THURSDAY, 27 JUL 2023
... technology strategies, he has worked as global chief operating officer for Standard Chartered and as a group executive at Commonwealth Bank.

KPMG recommends gender-focused super reforms

ANDREW MCKEAN  |  MONDAY, 17 JUL 2023
... Gender Equity in Retirement report recommended the government consider adding superannuation contributions to the Commonwealth Carer Payment. The consultancy firm said the "modest measure" would be an immense boost for recipients of the Carer Payment ...