| ANZ Bank Announces Significant Workforce Reduction Amid Strategic Overhaul Fri, 07 Nov: In a decisive move to streamline operations, ANZ Bank has unveiled plans to reduce its workforce by 3,500 positions over the next year.This strategic decision is part of a broader restructuring initiative aimed at enhancing efficiency and competitiveness within the rapidly evolving financial services sector. - read more
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| Optus Penalized for Unethical Sales Tactics Targeting Vulnerable Australians Fri, 07 Nov: In a landmark ruling, Australian telecommunications provider Optus has been fined AU$100 million (US$66 million) for engaging in unconscionable sales practices that targeted vulnerable customers, including Indigenous individuals residing outside the company's mobile coverage areas. - read more
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| Surge in Personal Insolvencies Reported by AFSA for September 2025 Fri, 07 Nov: The Australian Financial Security Authority (AFSA) has released provisional statistics indicating a rise in personal insolvencies during September 2025.This uptick reflects the ongoing financial challenges faced by individuals amid economic uncertainties and evolving market conditions. - read more
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| Westpac's Annual Profit Declines Amidst Mortgage Market Competition Thu, 06 Nov: Westpac Banking Corporation has reported a slight decrease in its annual profit, recording A$6.99 billion for the fiscal year ending September 30, 2025, down from A$7.11 billion the previous year. Despite this decline, the result surpassed analysts' expectations of A$6.83 billion. The bank attributes this dip to intensified competition within Australia's mortgage market and a marginal reduction in its net interest margin, which fell by 1 basis point to 1.94%. - read more
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| RBA Holds Cash Rate at 3.60% Amid Inflationary Pressures Thu, 06 Nov: The Reserve Bank of Australia (RBA) has decided to keep the official cash rate unchanged at 3.60% during its November meeting. This decision reflects the central bank's cautious approach in balancing inflation control with economic stability. Recent data indicates that the headline consumer price index (CPI) rose to 3.2% in September 2025, up from 2.1% in the June quarter, signaling persistent inflationary pressures. - read more
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| KTM's €600 Million Lifeline: A New Chapter for the Austrian Motorcycle Giant Thu, 06 Nov: In a significant development for the motorcycle industry, KTM AG has successfully secured €600 million in funding, enabling the company to fulfill its restructuring plan and stabilize its financial position. This funding comes at a crucial time, as KTM faced a severe financial crisis that led to self-administration and a comprehensive restructuring process. - read more
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| Peter Stevens Motorcycles Faces Uncertain Future Amid Voluntary Administration Thu, 06 Nov: Peter Stevens Motorcycles, a cornerstone of the Australian motorcycle retail industry, has entered voluntary administration, casting uncertainty over the future of the company and its approximately 400 employees. Founded in 1970 by the Chiodo family, the retailer expanded to 15 locations across Victoria, South Australia, New South Wales, and Western Australia, representing major brands such as Harley-Davidson, Ducati, and Triumph. - read more
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| Australian Motorcycle Market Sees 2.2% Decline in 2025; Scooters Buck the Trend Thu, 06 Nov: The Australian motorcycle market experienced a 2.2% decline in sales during the first nine months of 2025, according to data released by the Federal Chamber of Automotive Industries (FCAI). A total of 63,988 motorcycles were sold between January and September, down from 65,399 units in the same period of 2024. - read more
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| ASIC Highlights Compliance Concerns Among Payday Lenders Thu, 06 Nov: The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review into the practices of payday lenders, uncovering potential breaches of consumer protection laws. This scrutiny comes in the wake of reforms introduced under the Financial Service Reform Act 2022 (FSR Act), aimed at enhancing safeguards for consumers engaging with small amount credit contracts. - read more
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| Harmoney Introduces Tailored Small Personal Loans Thu, 06 Nov: Harmoney, a prominent Australian non-bank lender, has expanded its offerings to include small personal loans designed to meet the diverse needs of consumers. These loans range from $2,000 to $100,000, with interest rates starting from 5.76% per annum, tailored to each individual's credit profile. - read more
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| Swoosh Finance Delivers Quick Small Cash Loans Online Thu, 06 Nov: Swoosh Finance, an Australian online lender, is offering small cash loans ranging from $2,200 to $5,000, with a streamlined application process that can result in same-day approval. This service is designed to provide quick financial relief for individuals facing unexpected expenses or short-term cash flow challenges. - read more
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| RBA Holds Cash Rate at 3.60% in November 2025 Thu, 06 Nov: The Reserve Bank of Australia (RBA) has decided to keep the official cash rate unchanged at 3.60% during its November 2025 meeting. This decision reflects the central bank's cautious approach in balancing inflation control with employment objectives. - read more
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| ANZ Revises RBA Rate Cut Forecast to February 2026 Thu, 06 Nov: ANZ has adjusted its forecast regarding the Reserve Bank of Australia's (RBA) next cash rate cut, now anticipating the reduction to occur in February 2026. This revision aligns with similar adjustments by other major banks, reflecting a collective response to recent economic data and RBA communications. - read more
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| Australian Mortgage Brokers Anticipate Competitive Shifts in 2025 Thu, 06 Nov: The Australian mortgage broking industry is poised for significant changes in 2025, with increased competition and evolving market dynamics shaping the landscape. Factors such as anticipated interest rate adjustments, a surge in refinancing activities, and the growing influence of digital marketing are key drivers of this transformation. - read more
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| AFIA Unveils New Code to Elevate Non-Bank Lending Standards Thu, 06 Nov: The Australian Finance Industry Association (AFIA) has recently introduced its Finance Industry Code of Practice, marking a significant advancement in the non-bank lending and specialist banking sectors. This pioneering initiative aims to establish a new standard for integrity, transparency, and fairness within the industry. - read more
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| Australia's Housing Boom: A Golden Opportunity for Mortgage Brokers Thu, 06 Nov: Australia is currently experiencing a housing 'super cycle,' characterised by a substantial increase in demand for new homes. This surge is driven by a chronic undersupply of housing, demographic shifts, and evolving lifestyle preferences. For mortgage brokers, this trend presents a unique opportunity to expand their client base and services. Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check! - read more
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| Moneytech and Xero Collaboration Simplifies Financing for Australian SMEs Thu, 06 Nov: Australian non-bank lender Moneytech has announced a strategic integration with Xero, the global small business accounting platform. This partnership aims to provide small and medium-sized enterprises (SMEs) with a more efficient and streamlined process for accessing working capital. - read more
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| Queensland Government Invests in Marine Industry Workforce Thu, 06 Nov: The Queensland Government has recently partnered with the Boating Industry Association (BIA) to significantly enhance the Marine Jobs program throughout the state. This collaboration is set to provide a substantial boost to employment opportunities within Queensland's marine sector, which boasts the highest concentration of marine businesses in Australia. - read more
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| BIA and AFTA Collaborate to Enhance Boating and Fishing Industries Thu, 06 Nov: In a significant move for Australia's outdoor recreation sector, the Boating Industry Association (BIA) and the Australian Fishing Trade Association (AFTA) have formalised an agreement to collaborate more closely. This partnership is designed to benefit their combined membership base and bolster support for boat-based fishing across the nation. - read more
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| Japanese Banks SMBC and MUFG Propel Business Lending Expansion in Australia Thu, 06 Nov: Australia's business lending sector is witnessing a significant shift as Japanese banking giants Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG) emerge as leading growth drivers. In July 2025, the combined business loan books of Australia's top 10 authorised deposit-taking institutions (ADIs) reached A$925 billion, with SMBC and MUFG recording the highest percentage growth rates among them. - read more
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| Inattention and Speed Identified as Key Factors in Australian Truck Crashes Thu, 06 Nov: The National Truck Accident Research Centre (NTARC) has released its 2025 Major Incident Investigation Report, shedding light on the primary human factors contributing to significant truck crashes across Australia. The findings emphasise the critical roles of inattention, distraction, and inappropriate speed in these incidents, underscoring the necessity for targeted safety interventions within the transport industry. - read more
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| QBE and Sure Insurance Forge New Home Cover Partnership Thu, 06 Nov: QBE Australia Pacific has recently entered into a strategic partnership with Sure Insurance, aiming to bolster its broker-distributed householders cover. This collaboration signifies a concerted effort to provide more comprehensive and accessible home insurance solutions tailored to the diverse needs of Australian homeowners. - read more
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| Blue Zebra Enhances Insurance Offerings with New Underwriting Partnerships Thu, 06 Nov: Underwriting agency Blue Zebra has recently announced the establishment of new capacity arrangements for its home building and contents, landlord, and small to medium-sized enterprise (SME) package products. This strategic move is set to enhance the agency's ability to offer comprehensive and competitive insurance solutions tailored to the evolving needs of Australian homeowners and business operators. - read more
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| AIG Australia Penalised for Claims Handling Failures Thu, 06 Nov: The Insurance Code Governance Committee has imposed a $30,000 penalty on AIG Australia for breaching its obligations related to claims handling. The insurer failed to inform customers about delays in processing their claims and neglected to advise them of their right to escalate complaints to the ombudsman. This regulatory action underscores the critical importance of transparency and communication in the insurance claims process. - read more
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| OECD Calls for Budget Repairs and Increased Business Investment in Australia Thu, 06 Nov: The Organisation for Economic Co-operation and Development (OECD) has recently highlighted pressing economic challenges facing Australia, urging both federal and state governments to undertake significant budget repairs and stimulate business investment. This call to action comes in response to new data revealing unprecedented growth in welfare spending, juxtaposed with business investment levels nearing a four-decade low. - read more
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