ASX Announcements
This Month
Rising interest rates are bad news for bank stocks
Another cash rate increase would do more damage to arrears than it would help net interest margins, according to Morgan Stanley.
- James Eyers
- Opinion
- Investing
UniSuper’s John Pearce has a warning for this financial year
Super funds and portfolio managers have ruled off on a year that was powered by super stocks. As another begins, they’re looking for the obvious trades.
- Jonathan Shapiro
June
Inflation shock derails ASX 200 from best gain since 2021
A two-day sell-off after a hot consumer price report has left the bourse with a tepid return for the 2024 financial year.
- Joshua Peach and Joanne Tran
ASIC warns banks not to become complacent with new code
ASIC has approved a new Banking Code of Practice, but chairman Joe Longo says lenders must be alive to the dangers of “apathy, complacency and backsliding”.
- James Eyers
APRA chairman: I won’t be winding back the regulatory clock
John Lonsdale hit back at CEOs seeking relief, declaring current APRA restrictions as deliberate and appropriate, in a speech at an ABA event on Wednesday.
- James Eyers
Property payment fintech Coposit taps Ad Astra for a $10m fundraise
The platform allows buyers to pick up an off-the-plan property for $10,000, saving for the remainder of the deposit during the construction in instalments.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Entrepreneur Summit
Why we need to get behind small business
The true backbone of Australia’s entrepreneurial spirit and innovation lies within its small business sector, not just the tech giants.
- Luke Achterstraat
- Exclusive
- Cash
Armaguard secures deal with banks, supermarkets to save cash
Months after a bailout collapsed, the eight largest customers of Linfox’s Armaguard have agreed to a $50 million injection to keep cash circulating.
- James Eyers
- Exclusive
- Cash economy
In the Armaguard deal, keeping cash flowing was about more than money
How the Fox family and Bill Kelty finally got a deal with the banks to secure a viable future for the cash distribution business despite a dramatic fall in the use of cash.
- Jennifer Hewett
EQT locks in debt for $700m PageUp buy; CBA, Taiwanese lenders in
The $220 million, six-year loan was taken up by seven lenders, including Commonwealth Bank and Barclays.
- Sarah Thompson, Kanika Sood and Emma Rapaport
CBA rally threatens to dethrone BHP as ASX top stock
A 25 per cent rally in the country’s largest bank has placed it within striking distance of the miner, which has been Australia’s most valuable listed company for more than two years.
- Updated
- Joshua Peach and Tom Richardson
The Jarden verdict on CBA’s digital home loan
The new mortgage product is not a credible threat yet to mortgage brokers, analysts say.
- Lucas Baird
- Opinion
- Banking products
Small bank targets a niche product the big four have long neglected
Enthusiasm about the challenge from neobanks to the banking sector has come and gone, along with several start-ups. But Avenue Bank has its own plans.
- Jennifer Hewett
Helia shares plunge as CBA shops around mortgage contract
The insurer shed almost a fifth of its market value after its biggest client, the Commonwealth Bank, said it would run a tender process for its existing contract.
- Jonathan Shapiro
NAB clarifies crypto strategy with investment in Zodia Custody
NAB Ventures joins Standard Chartered and Northern Trust on the register of London-based Zodia, revealing NAB’s crypto play may involve custody services.
- James Eyers
Construction insolvencies will level out, CBA says
After a few torrid years of collapses among builders and subcontractors, there are signs that conditions are going to normalise.
- Michael Bleby
Australia Post warns ‘clock is ticking’ on its regional bank services
The government-owned postal service says it wants to strike new, more expensive deals with lenders to prevent Bank@Post falling into financial loss.
- James Eyers
Why Regal’s Phil King is shorting CBA
The Regal Partners investment chief has made the so-called “widowmaker” trade in betting against the nation’s largest bank.
- Joshua Peach
CBA unveils aggressive business banking strategy to take on Macquarie
Among measures outlined by the bank is a plan to target $20 billion in deposits real estate agents hold for renters, a niche dominated by Macquarie.
- Michael Bleby, James Eyers and Lucas Baird
CBA has fighting words as it prepares to get one back at Macquarie
Commonwealth Bank’s move to chase $20 billion in real estate agents’ bank accounts seems bitsy, until you realise who it is going after.
- Anthony Macdonald