Jacqueline and Hugh McDowall's retirement dream to buy a bed and breakfast business turned into a financial nightmare. Due to poor financial advice from a Westpac planner, the nurse and truck driver lost their family home pursuing a dream that was never going to become a reality.Read More »
Tough new penalties proposed by the federal government could see bankers and finance executives who engage in corporate and financial misconduct spending up to 10 years in jail. Under the reforms, the Turnbull government will expand the range of breaches subject to civil penalties, increase the maximum
Queen Elizabeth and British Prime Minister Theresa May have called for Commonwealth countries to embrace free trade, as the United States raises trade barriers. At the opening of the Commonwealth Heads of Government Meeting in London, Ms May said the 53 member nations were working on better trade links
The Australian share market closed higher for a fifth straight session, led by the mining and energy sectors, after commodity prices jumped on hopes of stronger economic activity in China, and low US oil ...
Gold miner Evolution Mining has narrowed its full year production guidance range after increasing output in the March quarter. The rise was driven by strong production from Evolution's Queensland mines, Mt Rawdon and Ernest Henry. Evolution expects full year production at Mt Rawdon to be below
Pharmacies operator and health and beauty products retailer Australian Pharmaceutical Industries is looking for acquisitions to boost its retail operations, and says it will continue to open more stores despite challenging consumer sentiment. API operates Priceline health and beauty stores, and supplies
Santos has lowered its full-year production and sales guidance due to the shutdown caused by February's magnitude 7.5 earthquake in Papua New Guinea. The company's March quarter production was 13.8 million barrels of oil equivalent, down from 15 mmboe in the preceding quarter, due to a seven
Stocks to watch on the Australian stock exchange: AMP - AMP - down 13 cents, or 2.9 per cent, at $4.32 ANZ - ANZ BANKING GROUP - up 7 cents, or 0.3 per cent, at $26.71 CBA - COMMONWEALTH BANK - down 1 ...
Treasurer Scott Morrison has again warned the "despicable behaviour" recently uncovered by the banking royal commission carries jail sentences under federal law. Commonwealth Bank of Australia was again under the spotlight on Thursday, after the commission heard one of its units had been extracting
The federal government has all but fulfilled the election promise made by former prime minister Tony Abbott to create one million jobs in five years. "The conditions are in place where workers can expect to see their wages grow in this environment," he said in Geelong on Thursday. Australian
Failed infant goods retailer Baby Bounce has closed two stores and owes money to more than 100 creditors. The company went into voluntary administration last week, and the first meeting with creditors was held in Sydney on Thursday. Administrator Cor Cordis says it knows of about 100 creditors so far
Victoria lags behind other states when it comes to how it sets public transport fares and needs to be more transparent, a new report says. The Infrastructure Victoria report also suggests that expanding and increasing the CBD car parking levy offers a chance to better manage transport demand in Melbourne
Publicans along Sydney's George Street are furious after learning that construction of the city's new light rail project will disrupt their businesses for a year longer than they'd expected. The light rail - from the CBD to the eastern suburbs - was meant to be finished in 2019 but Transport
Northern Territory chief minister Michael Gunner says the removal of a ban on fracking should mean extra commonwealth funding, given the federal government is threatening to penalise states that don't develop their gas reserves. Mr Gunner has written to the prime minister, saying the NT government
Jobs growth has slowed in 2018, leaving the unemployment rate steady at 5.5 per cent for a third straight month. The total number of people with jobs rose by 4,900 in March, seasonally adjusted figures from the Australian Bureau of Statistics show, well below market expectations of a gain of 20,000.
Commonwealth Bank's reputation has been so trashed by a series of scandals that the public now like the lender even less than they do the taxman. A poll of almost 6,000 people that overlapped the financial services royal commission's first round of public hearings showed CBA ranked at No.57
Harvey Norman has sold its 7.2 per cent stake in apparel supplier Gazal for $10.4 million. The furniture and consumer electronics retailer will make a pre-tax profit of nearly $4 million, having bought the stake in September 2016 for $6.5 million. It sold its interest in Gazal, a listed supplier of
Westpac admits a senior financial planner gave poor advice to a couple that cost them their dream retirement. Jacqueline McDowall and her husband ended up losing their home after trying to use superannuation funds to buy a bed and breakfast. Ms McDowall told her story to the banking royal commission
Some Commonwealth Bank financial advisers kept charging clients fees after they died, in one case for more than a decade, a royal commission has heard. "When asked he said he didn't know what to do and he had tried to contact the public trustee and had not heard back," a Count Financial
A new survey has found only just over half of businesses believe a tax cut would benefit their prospects, while a fifth thought a reduction was unnecessary. The special report in National Australia Bank's quarterly business survey also found 14 per cent said they did not pay tax in Australia and
The coalition has all but fulfilled an election promise made in 2013 by former prime minister Tony Abbott to create one million jobs in five years. New Australian Bureau of Statistics data released on Thursday shows between October 2013 and March 2018 999,900 people have gained employment. Employment
The Australian share market is trading higher, with miners leading gains after commodity prices jumped on hopes of stronger economic activity in China. The benchmark S&P/ASX200 index was up 0.6 per cent ...