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  • Business
    Australian Associated Press

    Auckland flooding, claims inflation to hit IAG margins

    Insurance Australia Group says it will miss insurance margin targets after experiencing claims inflation and more than 15,000 claims related to last weekend's severe flooding in Auckland.The company behind the NRMA, CGU, SGIO, SGIC and WFI brands said on Friday while the financial impact of the Auckland storms was difficult to judge at this early stage, it expects their gross costs to exceed $350 million.

  • Business
    Australian Associated Press

    Commonwealth Bank adding anti-scam features to its apps

    Commonwealth Bank is rolling out new features for its widely used banking apps aimed at combating the plague of scammers ripping off Australians.From late March, the app will indicate whether the name and account details customers have entered are correct when they make payments using a BSB and account number.

  • Business
    Australian Associated Press

    US Fed rates up, global stocks up, BoE and ECB up next

    The bulls have been in charge ahead of the European Central Bank and Bank of England's first meetings of the year after the US Federal Reserve bolstered the view that the surge in global interest rates was close to an end.Fed chair Jerome Powell's message that a "disinflationary" process was taking hold had sent Wall Street up, the dollar down and kept Europe's stocks 0.