This Month
HSBC renames ‘eastern’ and ‘western’ businesses months after creating them
The move has fuelled speculation that a sweeping overhaul along east-west lines at the bank was laying the groundwork for a future split.
February
Postie may come every three days if letters keep dying
Daily letter deliveries are a thing of the past and could fall further, but Australia Post has posted a healthy profit and looks set to expand its deal to provide rural banking.
Fortescue board hires former HSBC boss Noel Quinn
The iron ore miner and hydrogen hopeful has recruited a second British establishment figure by bringing on the former banker as a non-executive director.
Banks strike Australia Post deal to bolster rural branches
Lenders will extend moratoriums on country branch closures and have agreed to lift funding for over-the-counter services provided at post offices.
January
What it’s like to fall for a crypto scam
Christine Collins, 79, was unknowingly in the thrall of cryptocurrency scammers who had hacked her computer.
December 2024
‘Like a star football player’: meet ANZ’s next CEO
Born in Portugal with a globetrotting career spanning Peru, Brazil, Mexico and Hong Kong, Nuno Matos’ route to Australia has been an unlikely one.
ANZ’s risky new CEO; Assads ‘like mafia’; ‘Shoebox’ fetches $850k
Read everything that’s happened in the news so far today.
Chinese exporters race to dodge Trump’s tariffs
Sellers from China, Canada and Mexico are rushing to front-load shipments into the US before the levies rise.
‘Dad has never done a deal like this’: Ben Weiss’ wartime buyout
The son of famed corporate raider Gary Weiss has just pulled off a deal to take an AI company private in Tel Aviv. It nearly didn’t happen.
November 2024
CBA exit hands $5b in assets to LGT Crestone
As first reported by Street Talk, CBA sold the Commonwealth Private business and its $5 billion in funds under management to LGT on Monday.
October 2024
BRICS alliance takes on global payments system
The group of developing nations is attempting to challenge the SWIFT international payments messaging system by setting up its own sanctions-proof one.
HSBC unveils sweeping overhaul, names first female CFO
The bank plans to separate east from west and replace three units with four, in a move it says will simplify its business.
Scam reform lacks teeth
Australia has been a happy hunting ground for criminals running high-tech scams. New laws may not help consumers seeking compensation.
HSBC targets senior bankers in cost-cutting plan
New bank chief Georges Elhedery is working on restructuring that could save as much as $446 million.
September 2024
Out of a job, not ready for golf: the rise of the portfolio career
Today’s public company chief executives and top leaders simply do not last as long in their jobs as they once did, so there are more unemployed high-flyers keen for work.
China urged to spend up to $2.1 trillion to battle deflation
Economists warn the more embedded deflation becomes, the more it will cost to dispel it through stimulus measures.
Investment banks slash China growth forecasts as confidence wanes
Analysts are increasingly sceptical that Beijing will reach its 5 per cent economic growth target for 2024.
August 2024
Why CEOs working from home may be the new trend
Starbucks’ new boss Brian Niccol has decided to base himself in California rather than headquarters, dividing opinion among workplace experts.
July 2024
China’s low-tech manufacturers hanging on by their fingernails
China is shifting more to high-tech and EV manufacturing as its clothing, toy and furniture factories struggle against anaemic orders, trade restrictions and competition.
Bankers seeking their next big pay day are chasing these clients
Investment banks are now after riskier, smaller companies so they can pounce on the spoils of a trophy listing or a huge sale to private equity.