Business
AMP has flagged a 96 per cent drop in full-year profit and a drastically smaller final dividend after confirming it will set aside another $200 million to cover the cost of customer remediation related to issues heard at the banking royal commission.
News
AMP chair Catherine Brenner has quit with immediate effect as the fallout widens from the fees-for-no-service scandal at the financial services royal commission.
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A global law firm is investigating a possible class action against financial services giant AMP, which has admitted to cheating customers and lying to the corporate regulator.
AMP shares continue to fall after the wealth management giant admitted charging clients for advice they never received and said its staff had repeatedly lied to the corporate watchdog.
AMP chief executive Craig Meller expects a bump in business as people turn to financial advisers to decipher the government’s changes to superannuation.
Home loan approvals have slumped to a seven-month low in the first month of 2016, during the traditionally slow holiday season.
