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Showing 831 - 840 of 7471 results for "Consumer"

MA Financial strengthens lending business

CHLOE WALKER  |  MONDAY, 28 AUG 2023
... this period of volatility and it's here to stay." Of the $3.3 billion of credit MA manages, it has $20 million in consumer unsecured credit, or personal lending. Wyke said MA doesn't take mezzanine financing positions in either real estate construction ...

Treasury names new ASIC commissioners

KARREN VERGARA  |  FRIDAY, 25 AUG 2023
The federal treasurer has named three new commissioners who will spearhead ASIC for the next five years, as incumbents Danielle Press, Sean Hughes and Karen Chester wrap up their terms. CHOICE chief executive Alan Kirkland, Commonwealth Bank chief risk ...

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
Melbourne-based cryptocurrency lender Helio Lending (Helio) has been sentenced to a non-conviction bond for falsely claiming that it held an Australian credit licence (ACL) when it did not. In 2019, Helio falsely represented on its website that it held ...

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 ...

Norway's sovereign wealth fund returns 10%

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
... to rising demand for artificial intelligence solutions after a sluggish 2022. Technology stocks returned 38.6% while consumer discretionary returned 20.7%. Industrials were the third-strongest performer at 15%. The worst equities returns came from energy ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... period. DDO was introduced following a recommendation from the 2019 Financial System Inquiry to compel firms to design consumer-centric financial products and optimise distribution strategies. The regulator said it intends to extend the operation of ...

US inflation rises 3.2%

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
... several indicators find that soaring prices are finally moderating. According to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.2% in July on a seasonally adjusted basis year on year. On a month-by-month basis, food prices rose ...

ASIC sues debt management firm, director

CHLOE WALKER  |  THURSDAY, 10 AUG 2023
... Holdings Pty Ltd (Bakken), an operator of the debt management business Solve My Debt Now, following concerns of substantial consumer harm. It has also taken legal action against Bakken's director and co-owner Merrilyn Mansfield. ASIC has alleged that ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... $704 million of the total customer remediation bill was attributed to other wealth services relating to advice quality, consumer credit insurance products, certain superannuation, and other products. About $673 million was remediated to customers suffering ...