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Showing 1901 - 1910 of 2958 results for "August 27"

BOQ to fork out $46 million over interest rate botch

JAMES FERNYHOUGH  |  THURSDAY, 15 AUG 2013
Bank of Queensland (BOQ) will refund $34.5 million to members after an internal review found it had applied incorrect interest rates and fees. BOQ said it will also incur additional remediation costs of $11.5 million, bringing the total loss to about ...

Suncorp Life profit to drop 75%

LAURA MILLAN  |  MONDAY, 5 AUG 2013
Suncorp Life net profit after tax (NPAT) is expected to drop approximately 75% due to increasing discount rates and the poor performance of the life insurance division. The company made public a financial update of its preliminary results for financial ...

Cormann commits to change in face of Labor moratorium

MARK SMITH  |  THURSDAY, 1 AUG 2013
Shadow minister for financial services and superannuation Matthias Cormann has echoed Treasurer Chris Bowen's calls for super certainty but refused to back a five-year moratorium on changes to the system. Bowen laid down a challenge to the Coalition ...

Regulator taking a "facilitative" approach to change

ALICE URIBE  |  THURSDAY, 1 AUG 2013
The Australia Securities and Investments Commission (ASIC) chairman Greg Medcraft reiterated his support to the financial services industry as it grapples with the implementation of regulatory changes, saying that the regulator would take a "facilitative" ...

Labor pledges five-year freeze on super tax

MARK SMITH  |  THURSDAY, 1 AUG 2013
A re-elected Labor government would make no changes to superannuation for five years and aims to enshrine a policy in law that would make future changes possible only once every five years hence, Treasurer Chris Bowen said. The Treasurer unveiled a ...

FSC to support Indigenous financial literacy

MARK SMITH  |  THURSDAY, 1 AUG 2013
The Financial Services Council (FSC) has formed a long-term partnership alliance with First Nations Foundation (FNF) to help improve the financial literacy of Indigenous Australians. The FSC will be providing a minimum of $50,000 a year for three years ...

FSC appoints new chairman

LAURA MILLAN  |  TUESDAY, 30 JUL 2013
The Financial Services Council (FSC) board has elected a new chairman who will take over the role on August 1. Schroders Australia chief executive Greg Cooper will replace Peter Maher, who is expected to retire as chairman of the FSC on July 31. "I ...

Market Wrap

AAP  |  FRIDAY, 26 JUL 2013
Resource companies are struggling as the Australian market opens flat. The big banks, however, are rallying as financial markets continue to expect an interest rate cut in August. RBS Morgans Ipswich manager Tony Russell said that after several days ...

Centrepoint spent $4.9 million in client claims

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
Professional Investment Services (PIS) owner Centrepoint Alliance Group spent $4.9 million to cover client claims in relation to the performance of some of its advisers. The company revealed to the Australian Securities Exchange (ASX) that the group ...

EQT extends offer period for The Trust Company

LAURA MILLAN  |  MONDAY, 22 JUL 2013
Equity Trustees (EQT) have extended the period of their offer to acquire The Trust Company by more than one month. In a letter sent to The Trust Company shareholders, EQT said that the offer will now close on September 30. EQT also confirmed that meetings ...