Archived News for Finance Sector Professionals - March, 2017
APRA is clamping down on interest-only loans in a bid to douse the burning property market.
Westinghouse files for bankruptcy
Westinghouse Electric has filed for bankruptcy after billions of dollars of cost overruns at four nuclear reactors under construction in the US.
Federal tech spend soaring
Digital Transformation Minister Angus Taylor says the Government will spend nearly $10 billion on IT this financial year.
FTB debts dwarf robo-issues
A review has heard Centrelink hit at least 21,000 families with bogus Family Tax Benefit debts last year.
ACCC lines up power price check
The Federal Government has ordered the ACCC to look at retail electricity prices.
Activists attack CBA over coal
Activists have scaled the Commonwealth Bank of Australia's Sydney headquarters to protest coal financing.
Councils cry out for funding return
Councils are pushing the Treasurer to restore indexation to Financial Assistance Grants (FAGs) in the Budget ...
LNG giant slowed by unpaid bills
Laing O’Rourke says it was forced to quit work on a gargantuan liquid natural gas (LNG) facility in Darwin because it has not been paid.
TPG to bid for Fairfax
Private equity firm TPG Capital will soon attempt to buy Fairfax Media, according to reports in Fairfax papers.
ASIC finds law firm above board
Law firm Slater and Gordon has been cleared of falsifying its financial records and accounts.
Banking inquiry brewing
The push for a commission of inquiry into Australia's scandal-plagued banking system is gaining momentum.
Retirement report raises risks
Economist Saul Eslake says retirees are having to use their superannuation to pay off mortgages.
Powerful quote criticised
Unions claim ACCC chair Rod Sims has broken the public service code of conduct.
PM pushes for new union rules
Prime Minister Malcolm Turnbull wants to jail union officials and employers who make illegitimate secret payments.
Bank builds lab for cyber fight
CommBank has partnered with the University of New South Wales to develop a centre of expertise for cyber security ...
Fossil fuel ruling looms
The energy industry has just a few weeks until the review of the petroleum resource rent tax (PRRT) is released.
Alinta sale ends IPO plans
Western Australia's largest gas retailer Alinta Energy has been sold to a Hong Kong-based company.
ASIC cracking down on lending
ASIC says it is going through Australian banks to crack down on dodgy mortgage lending practices.
BCA says services set to suffer
The BCA says serious budget repair is needed to avoid big cuts to social services and living standards.
Numbers drop at stats office
The Australian Bureau of Statistics is sacking over 150 staff to balance its shrinking budget.