Finance News - Page 39

The Australian dollar has continued to soar, reaching a 4 month high against US dollar weakness. Overnight the Aussie dollar hit 77 US cents with help from recent gains in commodity prices and strong Chinese trade...

An investigation into the security of Australia's financial sector has revealed the extent to which organised criminals have exploited our financial system. Minister for Justice Michael Keenan yesterday released a report by the government's financial intelligence...

Unlike consumers, Australia's most senior finance executives are overwhelmingly optimistic about the future. Based on their survey of chief financial officers (CFOs) from major Australian listed companies, Deloitte’s CFO Sentiment Report for the first half of...

Energy Minister Josh Frydenberg has poured cold water over reports of a car carbon tax by saying an Elvis comeback would be just as likely. Yesterday Fairfax Media reported that the Turnbull government is considering new...

New research from UBank shows that Australians are withdrawing $31 billion from their savings each year, and 1 in 3 people are left penniless by payday. According to UBank's Science of Spending & Saving Experiment, these...

The Big 4 major banks have each increased their ‘share of wallet’ in the decade up to May 2017, according to Roy Morgan research. Share of wallet refers to the amount of customers’ money a bank...

Planning and preparing for a Bali trip can now be even more fun, thanks to a new online board game by travel insurance company Fast Cover. The Bali Survivor Board Game, described by the company as...

New research from peer-to-peer lender RateSetter has revealed that nearly 1 in 5 of their home improvement loans are used for energy efficiency renovations. The research, based on analysis of thousands of RateSetter personal loan customers,...

A number of superannuation funds have been falling short on their obligations to provide transparent information to consumers on their websites, according to the Australian Securities and Investments Commission (ASIC). ASIC announced on Tuesday that they...

In an industry-leading move, Cbus super has taken action to prevent opt-out life insurance cover within super from unnecessarily chipping away at the savings of its 700,000+ members. Cbus CEO David Atkin has announced a deal...

Two of Australia's largest travel insurance providers have adjusted their policies to accommodate particular mental illnesses claims. Over the last 2 months, both Cover-More Australia and QBE Insurance have removed exclusions that denied cover to policy-holders...

National Australia Bank (NAB) is urging customers to be on high alert for scammers and phishers this end of financial year (EOFY). NAB’s head of Anti-Fraud and Forensic Services, Claire Shaw, says that the EOFY period...

At this month's meeting, the Reserve Bank of Australia (RBA) held the cash rate at the record low of 1.50%. This marks the tenth month in a row that the RBA has held rates steady, with...

Australian small businesses are being urged to start preparing now for the upcoming ban on excessive card surcharges that will apply to all business from 1 September 2017. The new card payments regulation set out by...

The end of the financial year is already a stressful time for many people sorting out their tax returns, but this year you also need to be aware of the big changes to superannuation on 1...

Extra super contributions over the last 3 months of the financial year are expected to hit $10 billion as Aussies try to get in before the 1 July restrictions. Colonial First State Executive Manager Craig Day...

Australia has the fifth-highest rate of financial technology use in the world, according to a new report from Ernst & Young (EY). The EY Fintech Adoption Index found Australia’s population to have an adoption rate of...

Under orders from technology company Apple, Westpac will remove the keyboard function from its mobile banking app in July. First launched in March 2017 as part of the update to the Westpac Mobile Banking iPhone app,...

The banking industry has erupted with hostility and criticism in response to the South Australian Government’s newly announced bank levy, describing it as "outrageous". The new levy, announced as part of the state’s 2017 Budget, would...

The big four banks and a number of smaller institutions have had their long-term ratings downgraded by Moody’s, due to what it sees as housing market risks.