The three fatal flaws in Donald Trump’s tariff fantasy
Trump’s ideal of a self-reliant America is built on economically flawed assumptions. The plan really is bananas.
Financial Services
Crypto giants to splash out here after US romp
The crypto industry was a major donor during the 2024 US election, reportedly pouring in more than $200m, and increasingly finding allies in the Republican Party.
Cyber hack compounds the pain for Big Super that can lift SMSFs
Overexposure to US stocks, general poor behaviour and cybersecurity breaches have put Big Super under siege, but it’s now that self-managed super funds can shine.
Super funds exposed in cyber crime raids
Some AustralianSuper customers have lost $500,000 and others are seeing a zero balance on their super savings after hackers hit some of the nation’s biggest funds.
Australian super funds hit by major cyberattack
Australian superannuation funds have been hit by a cyberattack, with members being urged to take action to protect themselves.
Slug big banks ‘to keep rural branches open’
Regional and rural banks are calling on the future government to help them keep their doors open by imposing a levy on big banks.
Consulting crash sees Scyne Advisory slash more jobs
PwC’s former government consulting shop is cutting costs and staff as the days of ‘a reliable generalist consulting adviser are coming to an end’, according to its chief.
ANZ cops $250m capital hit from APRA, publishes culture review
ANZ’s culture review has largely cleared the bank over issues in its markets business, warning they were isolated, but found many staff felt like the bank failed to police poor behaviour.
AusSuper leads the way in funds growth
Australia’s largest superannuation fund, AustralianSuper, grew by more than any of its nearest rivals during the past financial year, data from The Conexus Institute shows.
There are two roads ahead for Star, both lead to dead ends
NSW pulled the pin on Star’s much-needed financing deal leaving Star boss Steve McCann with limited options. This is what comes next.
Banks no longer on the nose as dividends put them back in vogue
Bank stocks led the ASX sell-off since the start of the year but they are now offering fully franked dividend yields of 7 per cent, making investors sit up and take notice.
Westpac jettisons legacy invoice lending ops
Westpac has relaunched its invoice financing operation as part of a push by its business bank to win commercial customers.
Coalition’s homebuyer pledge is no game changer, say analysts
Financial analysts say the Coalition’s plan to ask regulators to relax the ceiling on borrowers risks increasing house prices while creating only a small benefit.
Where’s my RBA rate cut? Blame Trump’s tariffs
Australia’s central bank is trying to war game how tariffs will impact inflation and global growth. The real answer is it doesn’t know.
Elon Musk’s AI start-up buys X, claims $US45bn deal
The Tesla multi-billionaire claims the buyout of the social media platform values the new tech company at more than US$100bn.
HMC targets Healthscope with revamped private equity fund
David Di Pilla’s HMC Capital is revving up to buy troubled private hospital operator Healthscope from Brookfield. After a profitable year on the sharemarket, he has the capital to do it.
AOFM revises tally of meetings since trading scandal
The AOFM has disclosed two more meetings with senior bankers at ANZ, after The Australian revealed the government’s debt agency had met with the frozen-out bank.
Superannuation funds pledge to lift their game
Australia’s biggest super funds are promising to clean up their act in the wake of a scathing review that uncovered widespread failures in their handling of death benefits claims.
Have super funds walked into a market trap with Trump?
Your superannuation money is being poured into US shares just as Donald Trump threatens to up-end sharemarkets with his Liberation Day tariffs plan.
Customers should come first for super funds
The growth of superannuation fund operations has failed to match customer service needs. The result? Good service has fallen by the wayside.
Richard White shown how it’s done in the boardroom
A new Qantas chairman is quietly rebuilding a board dogged by scandal. The tech billionaire should take notice.
ANZ rushing on CEO transition
Incoming boss Nuno Matos is expediting his entry at the bank amid growing regulatory scrutiny.
Systemic failures in death claims handling across super: ASIC
A review of the superannuation industry’s handling of death claims has found systemic failures, with industry funds faring worse than their retail peers.
Geoff Wilson: market animal loyal to neither side of politics
At least Donald Trump ‘has a plan’, says veteran investor Geoff Wilson as he takes aim at Labor and the Coalition lacking grand visions for the economy or solving issues like home ownership.
Westpac’s IT simplification project can’t go any faster
The banking major isn’t looking to rush its three-year technology transformation under new CEO Anthony Miller, who is standing by its 2028 target for untangling the IT mess.
RBA sidelined during election, but has the damage been done?
Albanese has declared he wants to make this election about the cost of living. The real test will be on how forgiving voters are prepared to be on interest rates.
Cracks showing in private credit
Money managers are spruiking the next evolution in private lending, but cracks are appearing just as retail investors step in.
Melbourne fintech looks to $15m for its staff credit card idea
A fintech is looking to raise $15m to supercharge the launch of its AI-driven cost control solutions card to keep a company’s staff spending within set guidelines.
Stephen Jones takes swipe at US protectionism
Outgoing financial services minister Stephen Jones warns of downside risks to the economy from tariffs and slower global growth.
Tariffs won’t derail ‘golden era’ of US: Blackstone boss
The powerful Wall Street investor says markets need to hold their nerve and focus on the long term opportunities powering the world’s biggest economy.
Original URL: https://www.theaustralian.com.au/business/financial-services