| Boosting Financial Wellbeing Through Pro Bono Advice Thu, 16 Oct: Stephanie Patrick, a seasoned financial adviser with over 13 years of experience, has dedicated her career to transforming lives through financial guidance. In her recent roles at Hewison Private Wealth and her new position at Koda Capital, Patrick has been instrumental in aiding clients with significant asset portfolios. - read more
|
| AFCA Jurisdiction Gaps Highlighted in $1.2 Billion Collapse Case Thu, 16 Oct: A prominent law firm, FD Legal, has raised significant concerns over the Australian Financial Complaints Authority (AFCA)'s jurisdictional limitations amidst the fallout from the collapse of the Shield and First Guardian master funds. The firm, representing clients affected by these collapses, has identified potential jurisdictional gaps that may prevent clients from accessing compensation amounting to hundreds of thousands of dollars. - read more
|
| RBA Governor Bullock Cautions on Forward Guidance Amid Economic Shifts Thu, 16 Oct: In a candid conversation, Reserve Bank of Australia (RBA) Governor Michele Bullock addressed the complexity of providing forward guidance on interest rates, highlighting lessons learned from past communications under her predecessor. During a fireside chat hosted by Nomura, Bullock expressed reluctance to project future interest-rate scenarios, citing previous experiences where market interpretations of the bank’s guidance led to widespread misconceptions. - read more
|
| Insurance Industry Calls for Liability Law Reforms as Costs Skyrocket for Entertainment Sectors Thu, 16 Oct: The Insurance Council of Australia (ICA) is advocating for comprehensive reforms in liability laws to tackle rising insurance premiums, particularly impacting sectors such as live music venues, festivals, caravan parks, and amusement venues. The call comes with the release of a white paper highlighting that outdated state-based civil liability laws, untouched for nearly 25 years, are inflating costs significantly. - read more
|
| Crusader Caravans Unveils Budget-Friendly Dreamhaven Series Thu, 16 Oct: Crusader Caravans has recently launched its Dreamhaven series, a brand new line of Australian-made caravans designed to be more accessible to first-time buyers and those looking to upgrade from older models or tent camping. This initiative addresses the growing demand for affordable, locally manufactured caravans in the Australian market. - read more
|
| RBA Holds Cash Rate Steady at 3.60%, Emphasizes Data-Driven Policy Wed, 15 Oct: The Reserve Bank of Australia (RBA) has decided to maintain the cash rate at 3.60% during its September 2025 policy meeting. This decision follows three rate cuts earlier in the year and reflects the central bank's cautious approach in response to persistent inflation in the services sector and stable employment levels. - read more
|
| Commonwealth Bank Achieves Record A$10.25 Billion Profit on Lending Surge Wed, 15 Oct: The Commonwealth Bank of Australia (CBA) has announced a record full-year cash profit of A$10.25 billion for the fiscal year ending June 30, 2025. This milestone reflects a 4.2% increase from the previous year's profit of A$9.84 billion and surpasses analyst expectations. - read more
|
| Australian Mortgage Market Sees 6.8% Growth in New Home Loans for FY25 Wed, 15 Oct: The Australian mortgage market experienced a significant uplift in the fiscal year 2025, with new property-backed loans increasing by 6.8% compared to the previous year. This growth is primarily attributed to recent interest rate cuts, improved housing affordability, and enhanced support for first-time homebuyers. - read more
|
| Sydney Boat Show 2025 Achieves Remarkable Success Wed, 15 Oct: The 2025 Sydney Boat Show, held from August 14 to 17 at the Sydney Showground in Sydney Olympic Park, concluded with impressive results, attracting 23,525 attendees. This year marked a significant evolution for the show, which moved to Sydney Olympic Park to enhance its 56-year legacy as a premier event in the Australian boating industry. - read more
|
| Australian Boating Industry Maintains $10.2 Billion Turnover Wed, 15 Oct: The Boating Industry Association (BIA) has released its State of the Industry Data Report, revealing a national turnover of $10.2 billion for the 2024-25 financial year, maintaining the record set in the previous year. This stability underscores the resilience and sustained growth of Australia's boating sector. - read more
|
| New Campaign Promotes Responsible Boat Ownership in Australia Wed, 15 Oct: The Boating Industry Association (BIA) has announced its support for a Trans-Tasman initiative aimed at promoting responsible boat ownership. This campaign, launched by the Australia New Zealand Safe Boating Education Group (ANZSBEG), seeks to educate the public on safe and responsible boating practices, coinciding with Safe Boating Week 2025, running from October 6 to 12. - read more
|
| Peter Stevens Motorcycles Faces Financial Turmoil with $65.9 Million Debt Wed, 15 Oct: Peter Stevens Motorcycles, a cornerstone of Australia's motorcycle retail industry since 1970, has entered voluntary administration, revealing debts exceeding $65 million. This development casts uncertainty over the future of the company's 400 employees and its extensive customer base. - read more
|
| Harley-Davidson Explores Sale of Financing Unit Stake Wed, 15 Oct: Harley-Davidson is reportedly in discussions to sell a stake in its financing unit, Harley-Davidson Financial Services (HDFS), to investment firms Pacific Investment Management Co (PIMCO) and KKR & Co. The proposed deal, valued at approximately $5 billion, includes the sale of existing motorcycle loan portfolios. - read more
|
| Surge in Profits for Australian Insurers Amid Rising Premiums Wed, 15 Oct: In 2024, Australia's insurance industry reported a collective after-tax profit of $6.1 billion, a significant increase from the five-year average of $2 billion. This surge is attributed to substantial premium hikes and a relatively quiet year for natural disasters. - read more
|
| Rising Insurance Costs Challenge Australian Businesses Amid Crime Surge Wed, 15 Oct: Australian businesses are confronting escalating insurance premiums, driven by a surge in break-ins and thefts. This trend is placing additional financial strain on business owners already navigating a complex economic environment. - read more
|
| Allianz Australia Penalised for Misleading Insurance Practices Wed, 15 Oct: In a significant regulatory development, Allianz Australia and its subsidiary, AWP Australia, have been fined $16.8 million for making false and misleading statements. This penalty underscores the critical importance of transparency and honesty in the insurance industry. - read more
|
| Allianz Australia Completes Acquisition of RAA Insurance Wed, 15 Oct: Allianz Australia has successfully completed the acquisition of RAA Insurance for $642 million, marking a significant expansion of its operations in South Australia. This strategic move is set to enhance Allianz's market presence and diversify its service offerings in the region. - read more
|
| ANZ Bank Ceases Share Buyback to Fund Strategic Overhaul Mon, 13 Oct: ANZ Group has announced the cessation of its remaining A$800 million share buyback program, opting to conserve capital for a comprehensive strategic overhaul. This decision aligns with the bank's commitment to strengthening its market position and addressing recent regulatory challenges. - read more
|
| RBNZ Announces Formation of Financial Policy Committee Mon, 13 Oct: The Reserve Bank of New Zealand (RBNZ) has unveiled plans to establish a new Financial Policy Committee (FPC) by early 2026. This initiative is designed to enhance the central bank's authority in setting prudential regulations for banks and making informed decisions regarding mortgage lending ratios. - read more
|
| Australian Consumer Sentiment Falls Amid Inflation Concerns Mon, 13 Oct: In October 2025, Australian consumer sentiment experienced a 3.5% decline, marking the second consecutive month of reduced optimism. The Westpac-Melbourne Institute survey reported a sentiment index drop to 92.1, following a 3.1% fall in September. This trend indicates a predominance of pessimism over optimism among consumers. - read more
|
| Harley-Davidson's Potential Financing Unit Sale: What It Means for Australian Riders Mon, 13 Oct: Harley-Davidson, the iconic American motorcycle manufacturer, is reportedly in discussions to sell a stake in its financing arm, Harley-Davidson Financial Services (HDFS). This move could have significant implications for Australian riders seeking financing options for their motorcycle purchases. - read more
|
| Small Business Lending Surges After RBA's Interest Rate Reductions Mon, 13 Oct: In a significant development for Australia's small and medium-sized enterprises (SMEs), recent interest rate cuts by the Reserve Bank of Australia (RBA) have led to a notable increase in small business loan applications. This trend underscores a renewed sense of optimism among business owners, eager to leverage more favourable borrowing conditions to drive growth and expansion. - read more
|
| Expansion of Private Credit Market Opens New Financing Avenues for Australian SMEs Mon, 13 Oct: The Australian financial landscape is witnessing a significant shift as the private credit market experiences substantial growth, offering small and medium-sized enterprises (SMEs) alternative avenues for financing. This expansion is particularly noteworthy in the context of traditional banks tightening their lending criteria, leaving many businesses in search of accessible funding solutions. - read more
|
| Reserve Bank of Australia Advises Caution on Borrowing as Rate Cuts Loom Mon, 13 Oct: As the Australian economy anticipates potential interest rate reductions, the Reserve Bank of Australia (RBA) has issued a cautionary note to households, advising against excessive borrowing that could lead to financial instability. This advisory comes amidst a backdrop of economic recovery efforts and aims to prevent the emergence of a boom-bust cycle driven by unsustainable debt levels. - read more
|
| ANZ Bank Announces Significant Workforce Reduction by 2026 Mon, 13 Oct: In a strategic move to streamline operations, ANZ Bank has announced plans to reduce its workforce by 3,500 employees by September 2026. This decision is part of the bank's broader initiative to enhance operational efficiency and reduce redundancy within its organisational structure. - read more
|
