Latest news with #Locke
The Advertiser
8 hours ago
- Automotive
- The Advertiser
Australia's frustration with motor insurance grows
Australians are fed up with motor vehicle insurance, with complaints about stalled claims surging as parts and labour shortages drag on repair times. Motor insurance was Australia's most maligned financial product in 2024, with total complaints jumping by a third in the year to June 30, 2025, according to the Australian Financial Complaints Authority. "A lot of issues there around shortages in both labour and parts are impacting that, but clearly there's a lack of communication and really helping consumers through that period," AFCA chief ombudsman David Locke told AAP. Consumer credit insurance complaints jumped 184 per cent, which included add-on products such as loan termination insurance, tyre insurance, and coverage for missed payments. "Some of this was covered in the banking royal commission years ago, and we're still dealing with some some of these complaints," Mr Locke said. Total insurance complaints surged 17 per cent to more than 34,000, while complaints about financial or investment advice jumped 18 per cent to 4200, after the collapse of several investment funds now under investigation by the Australian Securities and Investments Commission. "We've seen examples of advisers recommending products because of financial incentives, particularly around self-managed super funds," Mr Locke said. The authority reported 100,745 complaints in 2024/25, an easing from a record of nearly 105,000 the year before. "This number is still way too high, and financial firms need to do a better job of resolving issues," Mr Locke said. Banking and finance complaints fell nine per cent to roughly 54,600, helped by a near-halving of scam-related complaints on the year before. Superannuation complaints fell by 16 per cent to 6164, as issues around claim handling delays dropped by 39 per cent. "The reduction in superannuation complaints is a positive sign ... but we're still concerned that the top three issues relate to service quality and we urge superannuation funds to improve service standards," Mr Locke said. The authority has received roughly 570,000 complaints since it was established in 2018 following the Royal Commission into Banking, Superannuation and Financial Services, and has since helped consumers secure 1.8 billion in compensation or refunds. Australians are fed up with motor vehicle insurance, with complaints about stalled claims surging as parts and labour shortages drag on repair times. Motor insurance was Australia's most maligned financial product in 2024, with total complaints jumping by a third in the year to June 30, 2025, according to the Australian Financial Complaints Authority. "A lot of issues there around shortages in both labour and parts are impacting that, but clearly there's a lack of communication and really helping consumers through that period," AFCA chief ombudsman David Locke told AAP. Consumer credit insurance complaints jumped 184 per cent, which included add-on products such as loan termination insurance, tyre insurance, and coverage for missed payments. "Some of this was covered in the banking royal commission years ago, and we're still dealing with some some of these complaints," Mr Locke said. Total insurance complaints surged 17 per cent to more than 34,000, while complaints about financial or investment advice jumped 18 per cent to 4200, after the collapse of several investment funds now under investigation by the Australian Securities and Investments Commission. "We've seen examples of advisers recommending products because of financial incentives, particularly around self-managed super funds," Mr Locke said. The authority reported 100,745 complaints in 2024/25, an easing from a record of nearly 105,000 the year before. "This number is still way too high, and financial firms need to do a better job of resolving issues," Mr Locke said. Banking and finance complaints fell nine per cent to roughly 54,600, helped by a near-halving of scam-related complaints on the year before. Superannuation complaints fell by 16 per cent to 6164, as issues around claim handling delays dropped by 39 per cent. "The reduction in superannuation complaints is a positive sign ... but we're still concerned that the top three issues relate to service quality and we urge superannuation funds to improve service standards," Mr Locke said. The authority has received roughly 570,000 complaints since it was established in 2018 following the Royal Commission into Banking, Superannuation and Financial Services, and has since helped consumers secure 1.8 billion in compensation or refunds. Australians are fed up with motor vehicle insurance, with complaints about stalled claims surging as parts and labour shortages drag on repair times. Motor insurance was Australia's most maligned financial product in 2024, with total complaints jumping by a third in the year to June 30, 2025, according to the Australian Financial Complaints Authority. "A lot of issues there around shortages in both labour and parts are impacting that, but clearly there's a lack of communication and really helping consumers through that period," AFCA chief ombudsman David Locke told AAP. Consumer credit insurance complaints jumped 184 per cent, which included add-on products such as loan termination insurance, tyre insurance, and coverage for missed payments. "Some of this was covered in the banking royal commission years ago, and we're still dealing with some some of these complaints," Mr Locke said. Total insurance complaints surged 17 per cent to more than 34,000, while complaints about financial or investment advice jumped 18 per cent to 4200, after the collapse of several investment funds now under investigation by the Australian Securities and Investments Commission. "We've seen examples of advisers recommending products because of financial incentives, particularly around self-managed super funds," Mr Locke said. The authority reported 100,745 complaints in 2024/25, an easing from a record of nearly 105,000 the year before. "This number is still way too high, and financial firms need to do a better job of resolving issues," Mr Locke said. Banking and finance complaints fell nine per cent to roughly 54,600, helped by a near-halving of scam-related complaints on the year before. Superannuation complaints fell by 16 per cent to 6164, as issues around claim handling delays dropped by 39 per cent. "The reduction in superannuation complaints is a positive sign ... but we're still concerned that the top three issues relate to service quality and we urge superannuation funds to improve service standards," Mr Locke said. The authority has received roughly 570,000 complaints since it was established in 2018 following the Royal Commission into Banking, Superannuation and Financial Services, and has since helped consumers secure 1.8 billion in compensation or refunds. Australians are fed up with motor vehicle insurance, with complaints about stalled claims surging as parts and labour shortages drag on repair times. Motor insurance was Australia's most maligned financial product in 2024, with total complaints jumping by a third in the year to June 30, 2025, according to the Australian Financial Complaints Authority. "A lot of issues there around shortages in both labour and parts are impacting that, but clearly there's a lack of communication and really helping consumers through that period," AFCA chief ombudsman David Locke told AAP. Consumer credit insurance complaints jumped 184 per cent, which included add-on products such as loan termination insurance, tyre insurance, and coverage for missed payments. "Some of this was covered in the banking royal commission years ago, and we're still dealing with some some of these complaints," Mr Locke said. Total insurance complaints surged 17 per cent to more than 34,000, while complaints about financial or investment advice jumped 18 per cent to 4200, after the collapse of several investment funds now under investigation by the Australian Securities and Investments Commission. "We've seen examples of advisers recommending products because of financial incentives, particularly around self-managed super funds," Mr Locke said. The authority reported 100,745 complaints in 2024/25, an easing from a record of nearly 105,000 the year before. "This number is still way too high, and financial firms need to do a better job of resolving issues," Mr Locke said. Banking and finance complaints fell nine per cent to roughly 54,600, helped by a near-halving of scam-related complaints on the year before. Superannuation complaints fell by 16 per cent to 6164, as issues around claim handling delays dropped by 39 per cent. "The reduction in superannuation complaints is a positive sign ... but we're still concerned that the top three issues relate to service quality and we urge superannuation funds to improve service standards," Mr Locke said. The authority has received roughly 570,000 complaints since it was established in 2018 following the Royal Commission into Banking, Superannuation and Financial Services, and has since helped consumers secure 1.8 billion in compensation or refunds.
Perth Now
11 hours ago
- Automotive
- Perth Now
Australia's frustration with motor insurance grows
Slow processing of vehicle insurance claims helped make it the most maligned financial product. (Dan Peled/AAP PHOTOS) Slow processing of vehicle insurance claims helped make it the most maligned financial product. (Dan Peled/AAP PHOTOS) Credit: AAP Australians are fed up with motor vehicle insurance, with complaints about stalled claims surging as parts and labour shortages drag on repair times. Motor insurance was Australia's most maligned financial product in 2024, with total complaints jumping by a third in the year to June 30, 2025, according to the Australian Financial Complaints Authority. "A lot of issues there around shortages in both labour and parts are impacting that, but clearly there's a lack of communication and really helping consumers through that period," AFCA chief ombudsman David Locke told AAP. Consumer credit insurance complaints jumped 184 per cent, which included add-on products such as loan termination insurance, tyre insurance, and coverage for missed payments. "Some of this was covered in the banking royal commission years ago, and we're still dealing with some some of these complaints," Mr Locke said. Total insurance complaints surged 17 per cent to more than 34,000, while complaints about financial or investment advice jumped 18 per cent to 4200, after the collapse of several investment funds now under investigation by the Australian Securities and Investments Commission. "We've seen examples of advisers recommending products because of financial incentives, particularly around self-managed super funds," Mr Locke said. The authority reported 100,745 complaints in 2024/25, an easing from a record of nearly 105,000 the year before. "This number is still way too high, and financial firms need to do a better job of resolving issues," Mr Locke said. Banking and finance complaints fell nine per cent to roughly 54,600, helped by a near-halving of scam-related complaints on the year before. Superannuation complaints fell by 16 per cent to 6164, as issues around claim handling delays dropped by 39 per cent. "The reduction in superannuation complaints is a positive sign ... but we're still concerned that the top three issues relate to service quality and we urge superannuation funds to improve service standards," Mr Locke said. The authority has received roughly 570,000 complaints since it was established in 2018 following the Royal Commission into Banking, Superannuation and Financial Services, and has since helped consumers secure 1.8 billion in compensation or refunds.
News18
2 days ago
- Entertainment
- News18
Will Agatha All Along's Joe Locke Appear In Avengers: Doomsday?
During a TikTok live, when Sater was asked about Locke's future, he briefly stated that Locke is doing a Marvel movie. Agatha All Along star Joe Locke is potentially eyeing his Marvel Studios debut. After the reintroduction of Billy Maximoff, aka Wiccan (played by Joe Locke), in Agatha All Along, fans have been wondering when the young hero will show up next as The Multiverse Saga gets closer to its end. While fans await to witness Locke as Billy in the MCU, a recent update from Steven Sater has ignited hopes among the audience. During a TikTok live, when Sater was asked about Locke's future, he briefly stated that Locke is doing a Marvel movie, which would mark the actor's debut in a Marvel Studios film. 'I didn't see him; I didn't reach out. I know he's doing a Marvel movie and he's doing Heartstopper, so he's been crazy, and my friends are producing the play he's about to do on the West End, so I just know how crazy his schedule is, so I left him alone," Sater stated. steven sater when asked about seeing joe locke in london:"i didn't see him, i didn't reach out. i know he's doing a marvel movie and he's doing 'heartstopper,' so he's been crazy, and my friends are producing the play he's about to do on the west end, so i just know how crazy… — daily joe locke (@dailyjlocke) July 16, 2025 Although Locke and Marvel Studios have not made any official confirmation yet or responded to Sater's comments, fans are eagerly waiting to witness the Heartstopper star making his MCU film debut. If Sater's comments are to be believed, Locke will be seen in the upcoming Avengers: Doomsday film, as it is the only MCU film currently shooting in London. Given Avengers: Doomsday marks the beginning of the end of The Multiverse Saga, having Locke's Wiccan show up in the film would make perfect sense. Sater's comments seemed to suggest Locke's MCU film debut is on the horizon, given that Kevin Feige previously confirmed that more members of the Avengers: Doomsday cast were yet to be revealed. Despite getting no official confirmation, fans are eagerly waiting to witness how Billy would fit into the upcoming massive MCU instalment. Avengers: Doomsday is the fifth instalment of the Avengers series, which will feature an ensemble cast, including Chris Hemsworth, Anthony Mackie, Sebastian Stan, Paul Rudd, Simu Liu, Florence Pugh, Danny Ramirez, Joseph Quinn, Tom Hiddleston, Ian McKellen, Pedro Pascal and Robert Downey Jr., among others. The film is set to hit the theatres in 2026. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hamilton Spectator
4 days ago
- Business
- Hamilton Spectator
S&P/TSX composite down at Friday's close, U.S. markets mixed amid muted trading day
TORONTO - Losses in industrial stocks weighed on the Toronto market as Canada's main stock index finished lower on Friday, while U.S. stock markets were mixed amid a quieter trading day. Steve Locke, chief investment officer for fixed income and multi-asset strategies at Mackenzie Investments, said trading on Friday was 'muted' compared to what has taken place in previous weeks. 'When you look across fixed income and equities today, it certainly doesn't stand out as a more volatile day, probably less than average recently,' he said. The S&P/TSX composite index was down 72.92 points at 27,314.01. In New York, the Dow Jones industrial average was down 142.30 points at 44,342.19. The S&P 500 index was down 0.57 points at 6,296.79, while the Nasdaq composite was up 10.01 points at 20,895.66. Locke said it is possible that some of the TSX performance was a reaction to potential consolidation in the U.S. railway industry. Norfolk Southern chugged 2.5 per cent higher after an AP source said it's talking with Union Pacific about a merger to create the largest railroad in North America, one that would connect the East and West Coasts. Any such deal, though, would likely face tough scrutiny from U.S. regulators. Union Pacific's stock fell 1.2 per cent. 'Sometimes, even though companies are not directly involved necessarily in some of those headlines that we see, there could be implications for those businesses if they're in the same sector, same industry, or perhaps adjacent in some way through their supply chain or their interaction with those businesses,' Locke said. Meanwhile, the heaviest weight on the U.S. market was Netflix, which fell 5.1 per cent despite reporting a stronger-than-expected profit. Analysts said the share price decline wasn't a surprise given the stock had already soared 43 per cent for the year so far heading into its earnings release, six times more than the gain for the S&P 500. American Express likewise delivered better-than-expected financial results, but its stock lost 2.3 per cent. Analysts pointed to slowing growth in some underlying trends, such as the number of cards it issued. The Canadian dollar traded for 72.89 cents US compared with 72.71 cents US on Thursday. Locke said there has been a modest rebound in the U.S. dollar recently. 'Obviously, after a period of weakness for the U.S. dollar really dating back to closer to the beginning of the year, I think we're seeing a little bit of a rebound here just based on the U.S. dollar being oversold,' he said. 'As we think through the next few quarters, I would anticipate that we might see a resumption of a little bit of U.S. dollar weakness versus the Canadian dollar and on a trade-weighted basis globally.' Going forward, he said he anticipates a resumption of weakness facing the U.S. dollar versus the Canadian dollar. The September crude oil contract was down 18 cents US at US$66.05 per barrel. The August gold contract was up US$13 at US$3,358.30 an ounce. This report by The Canadian Press was first published July 18, 2025. — With files from The Associated Press. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Province
5 days ago
- Politics
- The Province
RCMP to stay in Surrey a year longer than expected, Mayor Brenda Locke says
Surrey Mayor Brenda Locke feels the city was excluded by the B.C. government in the decision to extend, as no consultation was had. Surrey Mayor Brenda Locke. Photo by Arlen Redekop / PNG Surrey Mayor Brenda Locke has written to B.C.'s public safety ministry to express her dismay that she wasn't consulted about the province's apparent desire to extend the RCMP's presence in Surrey by an extra year. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Late last year, the Surrey Police Service officially became the police of jurisdiction in the city. Locke said the city was always told the transition away from the RCMP would be complete within two years, by November 2026. But Locke said city staff recently learned the province had asked the federal government to extend the RCMP's stay in Surrey to a third year until the end of 2027. 'City staff meet as a group with the RCMP and the SPS and it just came up in the conversation. It was never formally recognized, it just came up, so that's how we found out,' Locke told Postmedia News. 'It's obviously concerning to us because our taxpayers are the ones having to pay for this and if there's going to be an extension, we have to be at that table. We can't just sit back and have the province and a new police force cut the deal.' Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Locke sent a letter on June 19 to then-Public Safety Minister Garry Begg (Begg was removed from the post in a cabinet shuffle Thursday). 'We are concerned that the province has taken this step without first consulting with the city, thereby denying us the opportunity to provide input,' Locke wrote. 'This decision to act unilaterally and an apparent willingness to exclude the city from involvement is troubling, given the province's stated expectation that the city is responsible for, and so must pay for, the financial consequences of provincial decisions.' Surrey police currently patrol Newton and Whalley, and are expected to take over the west side of South Surrey on July 28, while the RCMP's Surrey provincial officers remain in the rest of the city until the transition is complete. This advertisement has not loaded yet, but your article continues below. 'The cost of running two police forces is significant and that's what we're doing right now,' Locke said Thursday, adding that the Surrey Police Service must be behind schedule if the RCMP's stay in Surrey is being extended. 'Not being at that table, we don't know, but we pay the bills. Who knows if it's going to be only one year?' After running on the platform of keeping the RCMP in Surrey, Locke and the majority of city council opposed the transition to a municipal police force. The 18-month battle concluded last July after Locke and her council were defeated in a B.C. Supreme Court case to stop the transition and accepted a $250-million deal from the province to help pay for it. Now, the mayor says she doesn't know if that money is enough to cover an extra year she didn't expect. But with B.C. Premier David Eby's cabinet shuffle on Thursday, Locke says she is looking forward to working with new Public Safety Minister Nina Krieger of Victoria-Swan Lake and discussing Surrey's recent extortion-related shootings impacting the local business community. Locke said she's received no response from the province to her letter. Surrey police deferred comment Thursday to the province. The ministry didn't respond to Postmedia by deadline. smoman@ Read More Vancouver Canucks News Local News Sports News
