Fri, 9th Aug 2024
from Finance News Wrap Hosted by Paige Estritori
In this episode of the Weekly Finance News Wrap, Paige Estritori discusses major developments in the financial sector. Key points include Westpac Banking Corporation's decision to close its home loan subsidiary, RAMS Financial Group, amidst a potential lawsuit and regulatory scrutiny. The Australian Financial Complaints Authority (AFCA) warns of a surge in financial services complaints due to fraudulent activities. Predictions indicate no change in Australia's cash rate, but potential rate hikes loom due to rising inflation. Finally, the shift towards e-commerce puts traditional retail under pressure with increasing insolvency rates, emphasizing the need for these businesses to innovate and stay competitive in this digital age. Tune in for these and more financial updates.
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