News

Payday loans on the up as Australians seek extra credit

Australians still appear to be struggling for extra credit as they seek new ways to bump up their disposable incomes. There has been a series of economic conditions which appear to have impacted heavily on the average wallet, from falling house prices to tightening lending from major banks in the face of the Royal Commission inquiry. With…

GoCardless makes Australia push to target subscribers

There seems to be little doubt that the Australian financial market may be irrevocably changed by the developments of the last 12 months, as the Royal Commission made public so many of the issues within the banking system that needed addressing. That appeared to weaken some of the trust the so-called Big Four banks had earned over…

BHP Group reports first-half losses

The biggest mining group in the world, BHP, has cited a number of factors for a slide in profits as it reports expected first-half losses for 2019. With ongoing trade disputes between the US and China listed as one of the major factors causing market disruption for vital metals and commodities, the future looks uncertain…

Report says not enough Australian businesses acknowledging climate change risk

Only a little over half of Australian businesses identified in a report have been acknowledging the growing need to consider climate change as a serious risk in their strategies, as damning research suggests too few companies are taking it seriously. 72 of the top enterprises in the country were assessed, with only 57% of those…

Banks told by ASIC to improve home loans situation

In one of the first instances of a regulator beginning to find their feet after the Royal Commission delivered its final report earlier in the month, the Australian Securities and Investments Commission (ASIC) has started calling for change in the home loans market.  ASIC and other regulatory bodies were criticized in the Hayne report for…

Super funds warn businesses over modern slavery

Certain industries have been warned to get their act together by superannuation fund investors over upcoming changes to Australian law around modern slavery. With mandatory reporting now enshrined in law, updates have been called for in financial services, as well as mining and healthcare. Super funds are worried that by not paying enough attention to…

Australian banking industry failing to consider financially illiterate

The Royal Commission has unearthed enough problems within the current banking system to last several years while Australia tries to work them out, but one of the key underlying aspects of this may yet to have really been discussed. Financial literacy is considered to be a tough topic to broach in the country, but with…

Australia hoping to capitalize on cobalt resources

With Australia finding itself as one of the hardest hit from a series of protectionist measures emanating from China and the US, on whose supply chains they are so entangled, it would seem that mining is the most likely way out of the economic gloom. The country is well known for its natural riches and…

Commonwealth Bank to provide more lending support for small businesses

One of the more concerning aspects to come out of the Royal Commission inquiry was that many were worried about an upcoming credit squeeze if banks were forced to make significant changes. Given that the housing market is still on the way down, failure for many to then get access to credit could easily cause…

Fintech Australia’s new GM says sector no longer just disruptive

The fintech sector has seen a rapid rise in the last few years, underlined by advancing technological capabilities which finally give it the ability to reach its potential. According to the new general manager of Fintech Australia, Rebecca Schot-Guppy, the industry is ready to take another leap towards the mainstream. As the fallout from the Royal Commission’s…