The week the banks turned mean
Cushioned by government support, Australia’s big banks are cutting their deposit rates for savings accounts and crushing their last remaining competitors.
Economics
The lone rule to follow for falling (and rising) markets
There’s only one rule that billionaire investor Howard Marks says is worth following during market selldowns, and it holds true for rallies too.
Treasurer offers deal with Liberals over RBA 2.0
Jim Chalmers will retain the power to override Reserve Bank decisions and there will be continuity on the board that sets interest rates, under a compromise offered by the Albanese government to secure Coalition support.
ASIC assembles new teams to tackle hit list
Private companies will face increased scrutiny as their ‘opacity presents an outsized risk’, says ASIC as it sets out its targets for the year ahead.
CEOs reveal fragile state of consumers
The reporting season has revealed a sharper picture of the economy, with consumers desperately trying to preserve their standard of living while anxiously awaiting an interest rate cut.
Investors should get ‘ahead of the curve’, says HMC founder
The probability of falling interest rates mean it’s time to get back into real estate assets and listed shares, says HMC Capital founder David Di Pilla.
Why Perpetual’s new boss faces the ultimate test
The incoming Perpetual chief executive has form in bringing big lumbering organisations together. Can he also pull them apart?
The unkindest cut: Banks do as they like with your deposits
Banks just don’t need savers like they used to thanks to more than $200bn in government funding from the height of Covid-19 underpinning their ability to cut deposit rates.
The under the radar companies making serious money
They may not be the biggest names on the ASX but companies like ARB, that was founded by a band of brothers in Melbourne’s suburbs, are seriously delivering for investors.
BOQ wields the axe with up to 600 jobs to go
The regional lender has begun consulting with employees as it looks to axe as many as 600 roles as part of a simplification and digitisation drive, according to sources.
Balanced regulations needed in tough times
Calls for sugar taxes, ad bans on certain foods and gambling, and plain packaging in the lolly aisles would each be damaging but collectively could be devastating for small and large businesses.
RBA sticks to its guns: no rate cut before 2025
The RBA minutes contain a slapdown for financial markets pricing in a rate cut by the end of the year, as it’s revealed how close the board came to increasing the cash rate in August.
As new Suncorp rises, CEO plans to seize the moment
Steve Johnston has a once-in-a-generation chance to rebuild his insurer from the ground up. He just needs to bring investors along.
China iron ore rout puts budget billions at risk
A sharp fall in the iron price, spurred by weak Chinese demand, threatens to stymie Jim Chalmers’s efforts to deliver a third consecutive budget surplus.
Coalition MPs press for zonal tax expansion
As calls grow to expand regional and rural tax breaks, David Littleproud hints the opposition is considering changes to the zonal tax system.
Winners and losers in a two-speed economy
National Australia Bank boss Andrew Irvine has an interesting take on how the nation’s economy is faring, and it’s a two-part story with some real pockets of pain.
Fed cuts are coming but will they do very much?
Wall Street seems hopeful that Powell and the Federal Reserve will secure a soft landing, but the tightening won’t end here.
Social media giant hit by scams fury from Westpac
Meta has been accused by Westpac of failing to deal with a scam and fraud epidemic, with the big four bank taking aim at the tech player for failing to deal with fake posts.
Chips on the table: Taiwan braces for a new era of Trump
Taiwan’s $100bn semiconductor industry is bracing itself for a possible Trump election victory, uncertain about what it could mean for one of the world’s most successful businesses.
Bullock pins blame on big-spending states
Hosing down accusations that Labor was undermining the Reserve Bank’s inflation fight, governor Michele Bullock insisted surging public spending was not the main game.
Original URL: https://www.theaustralian.com.au/business/economics/page/29