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Showing 1191 - 1200 of 3671 results for "Maintain"

Suncorp wealth business down

ELIZA BAVIN  |  FRIDAY, 21 AUG 2020
Suncorp has reported an 8% drop in funds under administration for its wealth business, as it posted a 6.8% fall in ongoing operations for FY20 as a result of COVID-19. Suncorp has been battered by extreme weather events, high reinsurance costs and low ...

ASIC takes action against BTFM, Asgard, StatePlus

JAMIE WILLIAMSON  |  THURSDAY, 20 AUG 2020
... advice annually in circumstances that StatePlus had no reason to believe it could provide. It also failed to establish and maintain appropriate internal procedures, measures and controls to ensure it could provide the promised advice. According to court ...

Perpetual profits plummet

ALLY SELBY  |  THURSDAY, 20 AUG 2020
Investment giant Perpetual has seen its net profit after tax fall 29% year on year, blaming an increase in outflows from its investments business as well as the challenging conditions of the COVID-19 pandemic for the decline. Revenue for the full year ...

ASIC cracks down on 42 SMSF auditors

ALLY SELBY  |  THURSDAY, 20 AUG 2020
The corporate watchdog has cancelled the registrations of 36 self-managed super fund auditors, while conditions have been imposed on a further six. It comes after ASIC found a number of SMSF auditors had not maintained an appropriate level of audit ...

Westpac ditches dividend

ELIZA BAVIN  |  TUESDAY, 18 AUG 2020
Westpac has become the first of the big four banks to not deliver a dividend in its first half results as it reported a net profit of $595 million and revealed it anticipates further enforcement action from ASIC. Westpac chief executive Peter King said ...

Take your CAPE ratio with a grain of salt

ALLY SELBY  |  MONDAY, 17 AUG 2020
Earlier this month, for the fourth time in its history, Robert Shiller's CAPE ratio - which tracks market value by measuring earnings data over a 10-year period - surpassed 31. Other times Shiller's ratio has exceeded 31 include the months prior ...

40% of ERS applicants not eligible: illion

ELIZA BAVIN  |  MONDAY, 17 AUG 2020
... early super." Illion said, as with the first round of ERS applications, the money was used to increase spending and not maintain it. "Almost two-thirds (64%) of this additional spending was on discretionary items such as clothing, furniture, restaurants ...

Advisers bolt to cash, gold

ANNABELLE DICKSON  |  FRIDAY, 14 AUG 2020
... hold appeal as a hedge against market volatility. Gold pushed through the all-time high mark recently and is likely to maintain value for some time due to quantitative easing programs across the globe and ongoing risks from COVID-19." "Silver has traditionally ...

Chief economist update: Second wave threatens an oil spill

BENJAMIN ONG  |  FRIDAY, 14 AUG 2020
... prompted renewed social distancing restrictions and business shutdowns. While OPEC+ has adjusted (cut) the oil supply to maintain current prices, COVID-19's second bite at the global economy threatens to weaken demand even more. Planes, trains and ...

Contango dumps investment strategy, opens raise

ANNABELLE DICKSON  |  THURSDAY, 13 AUG 2020
... said as the company was established in 2015 it does not have the benefit of a bank of retained earnings sufficient to maintain dividend levels during market downturns and is unlikely to have sufficient retained profits to declare a final dividend for ...