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Top reasons your free credit card travel insurance could be denied

theage.com.au

Top reasons your free credit card travel insurance could be denied

- They say nothing in this life is free … and the same may be true of the complimentary travel insurance that comes with premium credit cards (for which, of course, you pay a hefty annual fee). I have been inundated with emails from readers telling me about bad experiences with such insurance, after last week sharing my own. Credit card versions of policies can be more restrictive than the standalone counterparts, and carry a higher excess
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Categories: Business |  Travel & Recreation | 
Tags: Money |  Insurance |  Travel & Tourism |  Credit Cards |  Credit | 
Places: Oceania |  Australasia |  Australia | 

NBN customers face long delays as subcontractors avoid tough jobs

abc.net.au

NBN customers face long delays as subcontractors avoid tough jobs

- Internet customers are regularly facing lengthy delays in getting their NBN installed or repaired because subcontractors are refusing tricky jobs to make more money elsewhere. NBN Co delegates its work to major telecommunication infrastructure companies to manage the rollout of the network. But associate professor Mark Gregory from RMIT said those companies then contract the work out to smaller companies. "By the time you actually get down to the bottom, the mum and dad companies are getting paid very little," Dr Gregory said
Read More ...

Categories: Business | 
Tags: Corporate |  Enterprises |  Customers |  Contracts | 
Places: Oceania |  Australasia |  Australia | 

Business leaders dump Trump over Charlottesville rally response

abc.net.au

Business leaders dump Trump over Charlottesville rally response

- Donald Trump hits back after business leaders rush to quit White House advisory panel US President Donald Trump has ripped into business leaders who resigned from his White House jobs panel — the latest sign that corporate America's romance with Mr Trump is faltering — after his equivocal response to violence by white supremacists in Charlottesville, Virginia. Key points: Donald Trump says business leaders who quit his panel are "grandstanders" Latest executive to quit says "it was the right thing for me to do" Merck, Under Armour and Intel bosses have already quit panel "They're not taking their job seriously as it pertains to this country," the President said at an impromptu news conference at Trump Tower in New York City
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Categories: Politics & Government |  Business | 
Places: Australia | 

'Miss, miss, miss' - The party is over at Domino's

smh.com.au

'Miss, miss, miss' - The party is over at Domino's

- When a company announces a $300 million share buyback, misses key financial targets and reveals its chief executive is selling shares, it's a sign the party is over. And so it was for pizza giant Domino's, which suffered a huge share price rout within minutes of the market opening on Tuesday. No matter what spin chief executive Don Meij tried to put on the group's numbers, the market wasn't buying it
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Categories: Business | 
Tags: Markets |  Stock Markets |  Shares |  Financial Markets | 
Places: Oceania |  Australasia |  Australia | 

CBA unveils more ongoing failures of customers and staff

abc.net.au

CBA unveils more ongoing failures of customers and staff

- Commonwealth Bank's ongoing systemic failures of customers and staff: But wait there's more The Commonwealth Bank has released new details of several serious cases of systemic problems within the business that has cost customers and employees millions of dollars. Key points: CBA releases a list of several remediation programs refunding clients and staff Actions include underpaying staff super, selling insurance policies that wouldn't be paid out and not cancelling insurance policies in deceased estates Most regulatory lapses were systemic, over several years and only now being addressed Following demands from Reserve Bank governor Philip Lowe and ASIC chairman Greg Medcraft for greater transparency, the CBA released a list issues it says it is "putting right for our customers and employees"
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Categories: Business | 
Places: Oceania |  Australasia |  Australia | 

Will Labor tax trusts to extinction?

smh.com.au

Will Labor tax trusts to extinction?

- Bill Shorten and the Labor Party have made many small business owners very nervous. In a speech at this year's NSW Labor Party conference Mr Shorten foreshadowed a 30 per cent tax on discretionary trusts. The justification for the policy was trusts allow the wealthy to split income among individual family members, and that there had been an explosion in the number of discretionary trusts
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Categories: Business | 
Places: Oceania |  Australasia |  Australia | 

Commonwealth Bank boss to retire amid laundering claims

thecitizen.co.tz

Commonwealth Bank boss to retire amid laundering claims

- Sydney, Australia | AFP | The chief executive of Australia's biggest bank, the Commonwealth, will retire, the company said Monday, amid pressure from regulators over alleged breaches of laws on money laundering and terrorism financing. The bank's chairwoman Catherine Livingstone said in a statement to the stock exchange that Ian Narev "will retire by the end of the 2018 financial year"
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Categories: Business | 
Places: Oceania |  Australasia |  Australia |  Tanzania | 

Australia's CBA says CEO Narev to stand down amid money-laundering scandal

reuters.com

Australia's CBA says CEO Narev to stand down amid money-laundering scandal

- SYDNEY (Reuters) - Commonwealth Bank of Australia () CEO Ian Narev will retire by next June, Australia's No. 2 lender said on Monday, after a week of damaging publicity about a money-laundering lawsuit led to calls for the long-serving chief to resign. Narev, 50, would be gone by the end of the current financial year after almost seven years in the job, a tenure marked as much by record profits as allegations of serious misconduct including insurance scams and poor financial advice
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Categories: Business | 
Places: Oceania |  Australasia |  Australia |  United States | 

CBA to repay 65,000 customers about $10m for unsuitable insurance

smh.com.au

CBA to repay 65,000 customers about $10m for unsuitable insurance

- Commonwealth Bank will refund more than 65,000 customers a total of about $10 million after selling them unsuitable insurance when they applied for credit cards. The Australian Securities and Investments Commission (ASIC) on Monday said CBA sold CreditCard Plus insurance for credit card repayments to 65,000 customers who were unlikely to meet the employment criteria and would be unable to claim the insurance
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Categories: Business | 
Places: Oceania |  Australasia |  Australia | 

Markets Live: ASX's earnings test

smh.com.au

Markets Live: ASX's earnings test

- And another earnings report: Australia's biggest gold miner Newcrest Mining has recorded a full year underlying profit of $394 million, a 22 per cent jump on the previous year, and declared a new dividend policy for shareholders. The strong rise in profit still missed analysts expectations of around $434 million. The company will pay a final dividend of US7.5 cents per share (70 per cent franked) - for a full year dividend of US15 cents - and outlined a new policy under which the company's dividend payout would be at least 10-30 per cent of that financial year's free cash flow
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Categories: Business | 
Tags: Markets |  Corporate |  Enterprises |  Earnings |  Profits | 
Places: Oceania |  Australasia |  Australia | 

CEO Ian Narev to leave scandal-hit Commonwealth Bank by July 2018

abc.net.au

CEO Ian Narev to leave scandal-hit Commonwealth Bank by July 2018

- Commonwealth Bank CEO Ian Narev to retire before July 2018 as bank deals with money-laundering scandal The Commonwealth Bank has announced that its chief executive Ian Narev will retire by the end of the current financial year. CBA's chairman Catherine Livingstone said the board had decided to bring forward details of its succession planning to deal with "speculation and questions about his tenure"
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Categories: Business | 
Places: Oceania |  Australasia |  Australia | 

Regulators put the boot into banks: trust deficit growing

theage.com.au

Regulators put the boot into banks: trust deficit growing

- There is hardly a senior figure in Australia that hasn't put the boot into the Commonwealth Bank – and the banking sector – in the past week for cultivating a culture of profit at all costs. The latest was the Reserve Bank governor Philip Lowe who used a Senate economics committee in Melbourne to rip into the banks for a short-term profit mindset and cultural collapse
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Categories: Business | 
Places: Oceania |  Australasia |  Australia | 

Legal action against Australian bank could affect NZ

radionz.co.nz

Legal action against Australian bank could affect NZ

- Banks and environmental groups are keeping close eye on an Australian landmark climate change case which they say could have repercussions on this side of the Tasman. In a world first, Australia's largest bank the Commonwealth Bank of Australia is facing legal action from two shareholders for allegedly failing to adequately disclose the risk climate changes poses to its financial position
Read More ...

Categories: Business |  Law & Crime | 
Places: Oceania |  Australasia |  Australia |  New Zealand | 

US company offers to take financial risk of new MH370 search

chron.com

US company offers to take financial risk of new MH370 search

- CANBERRA, Australia (AP) — U.S. seabed exploration company Ocean Infinity said Friday it had offered to take the financial risk of a renewed search for the missing Malaysian airliner, as victims' families urged the Malaysian government to agree to a private sector hunt for Flight 370's wreckage. Malaysia, Australia and China suspended a nearly three-year search in the southern Indian Ocean in January after scouring 120,000 square kilometers (46,000 square miles) of remote seabed and failing to find any trace of Malaysia Airlines Flight 370
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Places: Oceania |  Australasia |  Australia |  Americas |  North America |  United States |  South |  Southcentral US |  Texas | 

U.S. company offers to take financial risk of new search for missing Malaysia Flight 370

thestar.com

U.S. company offers to take financial risk of new search for missing Malaysia Flight 370

- CANBERRA, AUSTRALIA—U.S. seabed exploration company Ocean Infinity said Friday it had offered to take the financial risk of a renewed search for the missing Malaysian airliner, as victims’ families urged the Malaysian government to agree to a private sector hunt for Flight 370’s wreckage. Malaysia, Australia and China suspended a nearly three-year search in the southern Indian Ocean in January after scouring 120,000 square kilometres of remote seabed and failing to find any trace of Malaysia Airlines Flight 370
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Categories: Business | 
Places: Oceania |  Australasia |  Australia |  United States |  Canada |  Asia |  S.E. Asia |  Malaysia | 

US company offers to take financial risk of new MH370 search

bostonherald.com

US company offers to take financial risk of new MH370 search

- CANBERRA, Australia — U.S. seabed exploration company Ocean Infinity said on Friday it had offered to take the financial risk of a renewed search for the missing Malaysian airliner, as victims' families urged the Malaysian government to agree to a private-sector hunt for Flight 370's wreckage. Malaysia, Australia and China suspended a nearly three-year search in the southern Indian Ocean in January after scouring 120,000 square kilometers (46,000 square miles) of remote seabed and failing to find any trace of Malaysia Airlines Flight 370
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Categories: Business | 
Places: Oceania |  Australasia |  Australia |  Americas |  North America |  United States | 

Facebook is taking fake news - and Australia - more seriously

theage.com.au

Facebook is taking fake news - and Australia - more seriously

- One of Mark Zuckerberg's top lieutenants was in Sydney this week, as Facebook launched a charm offensive on the Australian media industry. Adam Mosseri, a ten-year veteran of the social media behemoth and the man in charge of one of its most critical features, the news feed, was in town, offering olive branches to Australia's top publishers, including executives from Fairfax Media and News Corp
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Categories: Business |  Media & Information | 
Tags: Money |  Wealth |  Billionaires |  Mark Elliot Zuckerberg | 
Places: Oceania |  Australasia |  Australia | 

Popular Stories

Home / Australia / Business

Business & Economics - Australia

  • Whitehaven Coal digs big net profit after tax of $405 million
    Whitehaven Coal digs big net profit after tax of $405 million

    , smh.com.au

    Surging coal prices and an increased share of metallurgical coal sales in total coal sales have helped propel Whitehaven Coal to a record profit result. The cashed-up coal miner has proposed to pay shareholders a distribution of 20¢ a share in November. Whitehaven, which has coal mines in NSW and Queensland, recorded net profit after tax of $405.4 million for fiscal 2017
    Read More ...

     

    Categories: Business | 
    Tags: Taxes |  Corporate |  Enterprises |  Profits |  Sales |  Net profits |  Taxation | 
    Places: Oceania |  Australasia |  Australia | 

Markets

  • ‘Free Supermarket’ to Highlight Australia’s Multibillion Dollar Food Waste
    ‘Free Supermarket’ to Highlight Australia’s Multibillion Dollar Food Waste

    , voanews.com

    SYDNEY — Australia has opened a so-called rescued food supermarket that operates on a “take what you need, give what you can” model. The market, known as Oz Harvest, was founded by a South African-born entrepreneur and is part of international efforts to curb global food waste. Millions of meals. Ronni Kahn founded the Oz Harvest charity in 2004 because she was appalled by the amount of food wasted by Australia’s hospitality services
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    Categories: Business |  Travel & Recreation | 
    Places: Oceania |  Australasia |  Australia |  United States |  Asia |  South Wales |  Sydney | 

Corporate

  • NBN customers face long delays as subcontractors avoid tough jobs
    NBN customers face long delays as subcontractors avoid tough jobs

    , abc.net.au

    Internet customers are regularly facing lengthy delays in getting their NBN installed or repaired because subcontractors are refusing tricky jobs to make more money elsewhere. NBN Co delegates its work to major telecommunication infrastructure companies to manage the rollout of the network. But associate professor Mark Gregory from RMIT said those companies then contract the work out to smaller companies. "By the time you actually get down to the bottom, the mum and dad companies are getting paid very little," Dr Gregory said
    Read More ...

     

    Categories: Business | 
    Tags: Corporate |  Enterprises |  Customers |  Contracts | 
    Places: Oceania |  Australasia |  Australia | 

Finance

  • CEO Ian Narev to leave scandal-hit Commonwealth Bank by July 2018
    CEO Ian Narev to leave scandal-hit Commonwealth Bank by July 2018

    , abc.net.au

    Commonwealth Bank CEO Ian Narev to retire before July 2018 as bank deals with money-laundering scandal The Commonwealth Bank has announced that its chief executive Ian Narev will retire by the end of the current financial year. CBA's chairman Catherine Livingstone said the board had decided to bring forward details of its succession planning to deal with "speculation and questions about his tenure"
    Read More ...

     

    Categories: Business | 
    Places: Oceania |  Australasia |  Australia | 

Banking Institutions

  • Legal action against Australian bank could affect NZ
    Legal action against Australian bank could affect NZ

    , radionz.co.nz

    Banks and environmental groups are keeping close eye on an Australian landmark climate change case which they say could have repercussions on this side of the Tasman. In a world first, Australia's largest bank the Commonwealth Bank of Australia is facing legal action from two shareholders for allegedly failing to adequately disclose the risk climate changes poses to its financial position
    Read More ...

     

    Categories: Business |  Law & Crime | 
    Places: Oceania |  Australasia |  Australia |  New Zealand | 

Financial Institutions

  • CEO Ian Narev to leave scandal-hit Commonwealth Bank by July 2018
    CEO Ian Narev to leave scandal-hit Commonwealth Bank by July 2018

    , abc.net.au

    Commonwealth Bank CEO Ian Narev to retire before July 2018 as bank deals with money-laundering scandal The Commonwealth Bank has announced that its chief executive Ian Narev will retire by the end of the current financial year. CBA's chairman Catherine Livingstone said the board had decided to bring forward details of its succession planning to deal with "speculation and questions about his tenure"
    Read More ...

     

    Categories: Business | 
    Places: Oceania |  Australasia |  Australia | 

Enterprises

  • NBN customers face long delays as subcontractors avoid tough jobs
    NBN customers face long delays as subcontractors avoid tough jobs

    , abc.net.au

    Internet customers are regularly facing lengthy delays in getting their NBN installed or repaired because subcontractors are refusing tricky jobs to make more money elsewhere. NBN Co delegates its work to major telecommunication infrastructure companies to manage the rollout of the network. But associate professor Mark Gregory from RMIT said those companies then contract the work out to smaller companies. "By the time you actually get down to the bottom, the mum and dad companies are getting paid very little," Dr Gregory said
    Read More ...

     

    Categories: Business | 
    Tags: Corporate |  Enterprises |  Customers |  Contracts | 
    Places: Oceania |  Australasia |  Australia | 

Money

  • Top reasons your free credit card travel insurance could be denied
    Top reasons your free credit card travel insurance could be denied

    , theage.com.au

    They say nothing in this life is free … and the same may be true of the complimentary travel insurance that comes with premium credit cards (for which, of course, you pay a hefty annual fee). I have been inundated with emails from readers telling me about bad experiences with such insurance, after last week sharing my own. Credit card versions of policies can be more restrictive than the standalone counterparts, and carry a higher excess
    Read More ...

     

    Categories: Business |  Travel & Recreation | 
    Tags: Money |  Insurance |  Travel & Tourism |  Credit Cards |  Credit | 
    Places: Oceania |  Australasia |  Australia |