Australian banks have faced a string of scandals in financial advice, alongside weak returns from their wealth businesses. ANZ and Commonwealth Bank are also selling out of wealth management. The royal commission into misconduct in financial services last month exposed serious flaws in advice, but NAB chief executive Andrew Thorburn on Thursday said the sale of…
President Donald Trumps massive fiscal stimulus plans are adding to the U.S. debt overload and forcing the government to drive up bond issuance as the Federal Reserve shrinks its balance sheet. The Treasury Department will boost the amount of long-term debt it sells to $73 billion this quarter, lifting the auction sizes of coupon-bearing and floating-rate…
National Australia Bank will divest its wealth arm MLC, as its ambitious plan to restructure its workforce had a big impact on its half-year results, with cash profit down 16 per cent to $2.76 billion for the half-year due to a restructuring charge. NAB chief executive Andrew Thorburn said it intends pursue the sale of MLC –…
Saipan casino operator Imperial Pacific International Holdings (IPI) is suing a Las Vegas gambler over an unpaid casino marker. On Wednesday, the Saipan Tribune reported that IPI had filed a lawsuit against Las Vegas resident Patrick Sun for unpaid gambling-related loans totaling $747k. The company has requested a jury trial and is seeking payment of…
by Jordan Robertson Cambridge Analytica, the political-consulting firm at the centre of a data-collection and privacy scandal, said it’s shutting down all operations and has begun insolvency proceedings in the U.K. The data and advertising firm is also filing for bankruptcy in the US, according to a statement on Cambridge Analytica’s website. The company, which…
May 2 (Reuters) – * CAMBRIDGE ANALYTICA AND SCL ELECTIONS COMMENCE INSOLVENCY PROCEEDINGS * CAMBRIDGE ANALYTICA – SCL ELECTIONS LTD., CERTAIN OF ITS AND CAMBRIDGE ANALYTICA LLCS U.K. AFFILIATES FILED TO COMMENCE INSOLVENCY PROCEEDINGS IN U.K. * CAMBRIDGE ANALYTICA- CO IMMEDIATELY CEASING ALL OPERATIONS; BOARDS APPLIED TO APPOINT INSOLVENCY PRACTITIONERS TO ACT AS THE INDEPENDENT…
by Saleha Mohsin and Liz Capo McCormick President Donald Trump’s massive fiscal stimulus plans are adding to the US debt overload and forcing the government to drive up bond issuance as the Federal Reserve shrinks its balance sheet. The Treasury Department will boost the amount of long-term debt it sells to $US73 billion this quarter,…
Who wouldve thought regional Australia would be hanging a gold medal around the figurative neck of the A-League? In the past couple of weekends, the National Rugby League has hoofed its way to Tamworth for a competition match; AFL clubs have played under lights at Launceston; and now, by virtue of a sequence of events, domestic…
Neo-lender Wisr Limited saw a 42% growth in its origination of personal loans in the latest financial quarter. This was the companys largest quarter in loan originations since Wisr, formerly known as DirectMoney, began in 2014. Loan originations have continued to grow over the financial year, growing by 20% in the first quarter and by…
Joe Rennison in New York May 2, 2018 Print this page The US Treasury is set to borrow an additional $33.9bn from investors to accommodate the governments rising borrowing needs and will introduce a new debt security to help cope with the rising funding requirements. The rise in debt issuance continues to be front-loaded on…