Today
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.
CBA, NAB grapple with the rise and rise of mortgage brokers
CBA’s Bankwest and NAB’s Ubank digital brands have been revamped, to make them more attractive to brokers who are now writing three in four home loans.
This Month
Tyro’s profit lifts from health payments boom
ASX-listed payments stocks Tyro, Cuscal and EML reported interim results on Wednesday. All three rose on the market on stronger numbers.
The Zip v Afterpay buy now, pay later rivalry is back on
Zip says it is growing faster than its competitors in the world’s biggest market – the United States – after reporting record first-half earnings.
Westpac works with Accenture to deploy AI agents
The bank has already used agentic AI to assist its engineers move code to new cloud-based systems. Triaging mortgage applications could follow.
Red tape slashed for home loans, markets and insurance under Coalition
Shadow treasurer Angus Taylor unveils the Coalition’s new election policies to wind back rules in the finance sector.
Bank profit falls send uneasy investors into panic mode
NAB was the second major bank in three days to warn of weaker profits. An 8 per cent share price fall raised investors’ concerns the sector has begun to derate.
Major banks move quickly to pass on cut in full
Westpac, NAB, CBA and ANZ have all announced a 25-basis-point cut to their mortgage rates, just minutes after the central bank moved the cash rate lower.
Judo shares jump as business bank says economy has ‘safely landed’
In contrast to Bendigo, Judo said its margin was expanding as it managed growth from both sides of its balance sheet. Investors reacted positively.
Surge in Bendigo Bank lending crunches margins, sends shares sliding
The slump in key profitability measures caught the market off guard, with brokers asking the lender’s chief executive whether the company was being transparent.
Westpac boss supports RBA rate cut, says it will deliver needed relief
The bank said its quarterly net profit of $1.7 billion was lower due to some notable items, while its profit margin also contracted due to competition.
ACCC lacks power to break up blended payment plans
Gaps in the regulatory coverage of surcharging emerged during a parliamentary hearing with the consumer commission on Friday.
AMP shares mauled over dividend versus growth trade-off
The company’s final dividend has come in below forecasts as it warns that it has to better balance its growth ambitions with capital returns.
CBA predicts business activity jolt from imminent rate cut
Commonwealth Bank’s shares hit a record high on Wednesday, with CEO Matt Comyn saying the results clearly showed “improvements in disposable income”.
CBA’s radical home loan tactic is leaving the pack behind
With an election looming, Commonwealth Bank wants to hide its light under a bushel. But the gap to the rest is only getting bigger. Is the bank really taking enough risk?
Macquarie strikes careful tone, answering to new global mood
The investment bank and asset manager maintains a “cautious stance”, noting transaction timing, foreign exchange and geopolitics are unpredictable.
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.
GDG storms ‘trillion-dollar’ planner wealth market with Evidentia buy
Olympic gold medallist Grant Hackett is turbocharging the group’s expansion into managed accounts and into the sharemarket’s top 200.
Major banks ready to carry Westpac’s Armaguard load
The banks and regulators met on Wednesday afternoon without the cash transit monopoly to work out how to replace Westpac’s unique cash distribution operation.
Westpac to offer legal services as it vies for business bank customers
The big four bank has made a strategic $10 million investment in Lawpath, as it looks to maintain its recent market share gains.