Yesterday
Mastercard and Visa resist RBA plan to force fee disclosure
The US card giants are pushing back on the central bank’s objective of making their charges more transparent.
- James Eyers
This Month
Banks pick fight with RBA over wholesale payment fees
The central bank is considering stricter caps on “interchange fees” in its review of payment costs. Worth $2.1 billion annually, squeezing this could hurt competition.
- James Eyers
- Opinion
- Chanticleer
A fund did the unthinkable and cut its CBA stake. Time to follow suit?
Australian Foundation Investment Company says the “extreme” valuation of the bank left it little choice but to take some profit. But our super giants aren’t stepping back.
- James Thomson
Will bank stocks continue to run hot this year?
After beating the ASX 200 by 24 per cent, shareholders are faced with a “challenging predicament” of whether to stick with the banks or finally take some profits.
- Updated
- James Eyers
- Exclusive
- Executive shake-up
BoQ’s business banking boss quits in blow to turnaround efforts
Chris Screen had worked at National Australia Bank and Westpac before joining the Queensland lender in 2019. The bank had planned to grow his division this year.
- Lucas Baird
Maverick Macquarie misfires as its business bet starts cold
The share of business lending commanded by Australia’s fifth major bank has flat-lined since last February.
- Lucas Baird
- Opinion
- Chanticleer
Private equity’s $2.9b bolt from the blue kickstarts M&A wave
Get off the beach, the new year has begun with a doozy of a buyout bid. It is not straightforward, but it is a bit of fresh meat.
- Updated
- Anthony Macdonald
December 2024
Debit surcharge ban unfairly favours major banks, claims Square
The Block subsidiary introduced “blended” card payment fees which include using its software. They have become a flashpoint in the RBA’s payment cost review.
- Updated
- James Eyers
- Opinion
- Chanticleer
Elliott’s bonus hit shows how grumpy ANZ investors really are
Local fund managers are clearly unhappy with the board’s approach to risk management. Shayne Elliott is wearing a lot of their grief.
- James Thomson
How CBA’s $3 fee gambit nearly blew up the bank’s political capital
Bankers inside Commonwealth Bank’s retail division figured a small branch cash withdrawal charge was innocuous. They were wrong.
- Lucas Baird and James Eyers
Barrenjoey stokes political debate over APRA’s home-lending policy
The investment bank says a Coalition-led Senate committee report last month – challenging the prudential regulator on first home buyers – “appears logical”.
- James Eyers
- Exclusive
- Commonwealth Bank
CBA’s Comyn warns ‘troubling’ loss of trust will make reform harder
Matt Comyn has warned the economic reform Australia must pursue is only going to become more difficult if polarising attacks on the business community continue.
- James Thomson and Anthony Macdonald
Insignia board weighs $2.7b Bain bid against turnaround
Bain’s cash has Insignia shareholders wondering whether they should cut and run ahead of a complex but credible turnaround strategy.
- Updated
- Jonathan Shapiro
Mark Carnegie, HongShan back $US100m crypto neobank
HongShan Capital Group and Peak XV Partners have led KAST’s $US10 million seed funding round.
- Sarah Thompson, Kanika Sood and Emma Rapaport
NAB offloads rest of MLC to Nippon, new life insurer Acenda created
MLC Life Insurance will merge with the local subsidiary of Resolution Life to create Acenda, after Nippon Life bought Resolution for $US8.2 billion.
- James Eyers
- Opinion
- Letters to the Editor
Fix pay disparity to help end financial abuse
Readers’ letters on the government’s role in curbing financial abuse, super fund governance, radio’s future, the CSIRO’s nuclear report, safeguarding food supplies, and Peter Dutton’s flag comments.
- Exclusive
- Executive pay
Confidential documents outline BoQ’s profit targets
If hit, the bank’s cash profit will be well above what the market expects this year. But analysts have warned it has a poor track record of meeting goals.
- Lucas Baird
Brookfield-backed debt collection giant Panthera finds new owner
Privately owned credit agency Francom has emerged as the new owner of the company, which collapsed this year following a dispute between its founders.
- Kylar Loussikian
Banks, insurers told to work harder to prevent financial abuse
A committee chaired by Labor senator Deborah O’Neill has tabled 61 recommendations to reduce the insidious practice.
- James Eyers
- Opinion
- Chanticleer
No one has come out of CBA’s cash blunder looking good
The bank’s fee mess is an uncharacteristic stuff-up. But it’s also a missed opportunity to have proper debate about technology, economic growth and equity.
- James Thomson