Cbus board appointments prompts tough talk from APRA
The regulator has raised doubts over whether Cbus has completed the necessary processes under its licence conditions, after the fund said three CFMEU-linked directors had passed a fit and proper persons test and would be appointed to its board.
- by Sumeyya Ilanbey
Latest
ASIC sues NAB for ‘failing’ customers facing financial hardship
The corporate regulator cited submissions from people who had left violent relationships or who had lost work during the pandemic.
- by Sumeyya Ilanbey
Can ANZ’s $2.5 billion tech bet close the gap on rivals?
Maile Carnegie is trying to transform the bank’s technology, and oversee the movement of millions of customers to a new platform. It’s a mammoth undertaking.
- by Sumeyya Ilanbey
Super giant apologises for ‘unacceptable’ insurance delays
Appearing before a Senate inquiry on Thursday morning, Cbus chief executive Kristian Fok was grilled on a litany of scandals engulfing the embattled fund.
- by Sumeyya Ilanbey
Super funds warned over delays in assessing life insurance claims
ASIC believes the scale of alleged failings at $94-billion super fund Cbus are a broader industry issue, and it’s flagged there could be more “enforcement action to follow”.
- by Sumeyya Ilanbey and Clancy Yeates
Updated
Earnings season
Trump’s tariff plan to fuel global inflation, could keep rates high: CBA boss
Commonwealth Bank chief executive Matt Comyn said Australia’s economy is being weighed down by elevated interest rates and sticky inflation.
- by Sumeyya Ilanbey
Relax lending rules to boost mortgage competition: Bendigo CEO
Bendigo’s new chief says rules that require banks to test if a customer could handle a 3 percentage point interest rate rise are “not good for competition”.
- by Sumeyya Ilanbey
Corporate regulator sues Cbus over unresolved insurance claims
The corporate regulator is taking the embattled construction superannuation fund to court for not processing death and disability insurance claims in a timely manner, costing its members about $20 million.
- by Sumeyya Ilanbey
The secret partnerships targeting financial crime
Australians lose $3 billion to financial crime each year, and with major compensation laws looming, law enforcement agencies are ready to go to war.
- by Sarah Danckert and Sumeyya Ilanbey
Updated
Earnings season
Savings keeping borrowers afloat with no RBA relief in sight: ANZ boss
ANZ CEO Shayne Elliot says the Reserve Bank of Australia would likely begin cutting the cash rate “later rather than earlier.”
- by Sumeyya Ilanbey
Updated
Earnings season
Australia likely to get hurt in Trump’s trade war, warns NAB boss
The nation’s largest business lender says local companies could be hit hard if president-elect Donald Trump ploughs ahead with his tariff threats.
- by Sumeyya Ilanbey
Original URL: https://www.theage.com.au/by/sumeyya-ilanbey-h17jxd