Today
Miners set for green investment boost from new classification system
New guidelines developed with Treasury will help banks and super funds reduce greenwashing by classifying economic activity based on its emissions profile.
This Month
Keating: ‘CBA was flying on one wing when I became Treasurer’
The Commonwealth Bank’s record-breaking share price surge compelled Paul Keating to summon the Financial Review to his Sydney office for a history lesson.
Why Afterpay could be coming to a supermarket checkout near you
Eight years after the first calls to bring BNPL under credit laws, Nick Molnar says the new regime will help it compete more aggressively with credit cards.
Texan investment giant’s $1b buy order pumps up CBA’s share price
A bulky order for the bank’s stock over the past fortnight has helped the country’s biggest lender pass $300 billion market capitalisation.
ABA whittles down search for new CEO
The departure of Anna Bligh opens the door, potentially, for another former politician.
Investors cash in as CBA soars past $300b but distortion fears grow
The bank’s relentless share price rise has seen its value soar well above the second-largest stock, BHP, despite brokers broadly considering it overpriced.
From mortgages to mining copper, here’s how big companies are using AI
Flood and cyclone victims are just some of the people the country’s biggest businesses are helping with the use of artificial intelligence.
May
ANZ CEO Nuno Matos on his plans for a cultural overhaul at the bank
Staff who don’t understand the fundamental importance of risk controls should find another industry to work in, he says.
‘I was very confident’: Meet Nuno Matos, ANZ’s Mr Fix It
After getting the US Justice Department off HSBC’s back, the Lisbon-born banker wants to take the smallest of Australia’s big four banks to “a different level”.
Westpac shifts climate targets and eases path for more lending to gas
The bank, which lends to Woodside Energy, will change lending rules even as it demands better energy transition plan disclosures from borrowers.
Ares is designated driver at Quadrant’s MotorOne as $350m refi lands
Street Talk understands the Sydney buyout fund wants to trade its bank debt for a $350 million-plus unitranche loan.
New ANZ chief makes first executive hire amid bank poaching frenzy
Nuno Matos has hired a new group executive from Santander’s senior management ranks amid “one of the busiest times for bank CEO and CFO transitions”.
Armaguard, banks pick Deloitte to create utility pricing for cash
The biggest users of cash want contracts with the Lindsay Fox company to be regulated like other essential services such as water and energy.
ANZ tech boss touts AI agents to lift bankers’ productivity
ANZ is working with Salesforce to roll out AI agents that can help bankers prepare for client meetings, says the bank’s technology chief Gerard Florian
Westpac readies the axe for its biggest redundancy round in years
New chief executive Anthony Miller has set big internal cost-cutting targets, with more than 1500 jobs on the line.
Westpac has already cut jobs in these key divisions
A former Westpac staff member reveals where redundancies have already been made, while the union says it is “greatly concerned” about extra cuts.
Big four banks pass on RBA cut in full
But ANZ, NAB and CBA said customers would need to contact them to actually reduce their direct-debit repayments.
AustralianSuper invests in Whitehaven Coal, says it is ESG consistent
The big investor says it was drawn to the miner’s shift to metallurgical coal and remains committed to net zero by 2050 after buying shares last week.
Imagine a cheaper mortgage if you went straight to the bank, not a broker
Banks pay broker 65 basis points upfront commission, which on a $1 million mortgage is $6500. What if banks cut out the broker and shared savings with the borrower?
CBA chief Comyn eyes bigger slice of business lending
Commonwealth Bank’s business loans jumped 9.1 per cent for the March quarter, or 1.3 times the average of the banking system.