This Month
Ellison loses billionaire status after MinRes shares collapse
The New Zealander’s net worth is estimated to have fallen below $1 billion after shares in the miner he founded fell 40 per cent over the past month following a stream of setbacks.
February
ACT risks Victoria-style downgrade as deficit blows out to $1b
S&P has told the ACT it must turn its finances around within a year or two, or else it will join Victoria as the lowest-rated Australian government.
December 2024
Singapore’s CapitaLand nails $200m Wingate deal
CapitaLand confirmed its intended acquisition of Wingate for $200 million as the Asian real estate manager expands into private credit.
November 2024
Moody’s downgrades MinRes as big investors demand board overhaul
The credit ratings agency has cut the lithium and iron ore miner to negative, citing the “negative implications” of its governance issues.
October 2024
My son is off to uni. Should I give him a credit card for emergencies?
Set clear guidelines around what constitutes an emergency. Does a late-night taxi ride home from the pub qualify?
Credit score agencies combine, creating Australia’s newest duopoly
Experian has completed its $820 million acquisition of Illion, which Experian’s CEO says will help banks assess credit risk more dynamically.
August 2024
Can I get a mortgage without a credit score?
Credit scores are a shortcut used by credit providers to assess your history in repaying debt. But what happens if you don’t have one?
June 2024
Afterpay says Treasury has overreached on BNPL regulation
Consumer groups, banks and even the corporate regulator say they also have concerns about Labor’s proposed laws to regulate buy now, pay later as credit.
May 2024
Four listed fintechs say they’ll be smashed by credit report rules
Plenti, MoneyMe, Harmoney and Wisr allege major banks are conspiring against them by restricting access to crucial credit file data they use to price loans.
April 2024
ACCC reviewing credit data deal as Experian pounces on illion
A $820m deal that would see consumer credit data controlled by a duopoly of foreign companies is being examined by the competition regulator.
January 2024
The lone Aussie riding US credit monopoly sensation FICO
US credit growth has hit the brakes as higher interest rates bite, but the American credit rating agency’s share price has jumped 87 per cent this year.
December 2023
Government spending splurge is blunting RBA rate rises: S&P
Federal and state governments are spending $50 billion a year more than pre-pandemic, making the inflation fight harder, a leading credit rating agency says.
Moody’s cuts China credit outlook on rising debt
The ratings agency cut its view of the country’s finances to negative, saying it was concerned about the potential cost of local government bailouts.
November 2023
Why banks spy on your petrol bills
Lenders look at whether you stop short of filling up the tank or start shopping at Aldi to work out whether the home loan is becoming a struggle.
September 2023
Mookhey clears runway for AAA credit rating loss from NSW budget
Treasurer Daniel Mookhey has signalled the NSW government is prepared to lose its top-tier credit rating, arguing its impact on the cost of debt is falling.
August 2023
WeWork credit rating cut further into junk territory by Fitch
Fitch Ratings said it downgraded WeWork’s long-term default ratings and first-lien bonds to reflect continuing pressures on the business.
‘Arbitrary’: Yellen slams historic US credit rating cut
The cut, only the second in history, illustrates how growing political polarisation and stand-offs over spending and taxes could end up costing the US.
July 2023
Sydney, Melbourne outer suburbs have double the rate of loan arrears
The data from S&P Global Ratings will be used by banks as they determine lending policies such as requiring higher deposits amid rising interest rates.
May 2023
Living costs push more consumers towards credit cards, personal loans
An increasing number of households are turning to unsecured lending to fight inflation pressures as the demand for home and car loans declines.
March 2023
Tesla finally escapes junk rating with Moody’s upgrade
Moody’s Investors Service has become the second credit ratings firm to endow Tesla with investment-grade status.