Why Goodman’s AI pivot has a big message for investors
The veteran property investor is replaying the strategy that turned a small commercial property trust into a $70bn industrial powerhouse.
Financial Services
ACCC to launch new cartel actions, warns on crypto fraud
The Australian Competition and Consumer Commission is concerned about influencers peddling get rich crypto scams in the wake of proposed deregulation of the sector by Trump.
Westpac sends jobs to Manila
Westpac is to move almost 200 jobs in SA and NSW to The Philippines, sparking condemnation from the Finance Sector Union, which claimed workers held concerns about the security of customer data.
Margin squeeze: banks hit as earnings drop
Among concerns for investors are heightened competition in mortgages and deposits crimping margins, and for NAB, the fact that arrears are still rising.
Sell or stay: Brookfield assesses potential $3bn La Trobe exit
The global investment giant is considering exiting its investment in non-bank lender La Trobe Financial, after fielding interest in the asset worth up to $3bn, sources say.
Inflation fight far from finished: Judo
Business bank Judo has warned the fight against inflation is not over, as the ASX-listed lender posted a 70 per cent profit jump to $40.9m.
Investors punish Challenger despite cost cutting
The wealth and retirement giant is targeting tens of millions of dollars in cost savings from deals with Accenture and State Street after mixed interim results.
‘It’s risk on for investors’
The financial services company says rate cuts could see investors shift asset preferences.
UGC pushed clients into First Guardian funds
Failed advice firm United Global Capital recommended clients invest in the now-suspended First Guardian funds.
‘Tidy up this mess’: Dutton demands insurers slash premiums
Doubling down in his threats to the insurance industry, the Opposition Leader called for the sector to cut premiums or face the threat of market intervention.
Bendigo smashed on margins hit
The regional lender increased deposits and home lending well above its peers over the six months to December 31, but it came at a cost.
Westpac warns of rising unemployment
One of Australia’s big four banks thinks GDP will track sideways over the coming two years, with unemployment expected to lift from its current low levels.
Debate on payment card surcharges to heat up
The polarising issue of debit and credit card surcharging will come to the fore again in coming weeks, with gouging at the payment terminal becoming more commonplace.
Big banks’ abysmal record on rate cuts in focus
The major banks are politically savvy enough to know if a rate cut is announced this week they must pass it on in full. But their track record on reductions is extremely poor.
No surrender: Wilson-Bolton war in its final stages
The long-running conflict between Geoff Wilson and Nick Bolton must be among the most expensive and consuming in Australian financial services in recent decades.
Keep up: How CEOs are navigating the Trump frenzy
Some of Donald Trump’s biggest calls are sending financial as well as strategic shockwaves through business. And they’re all unfolding in real time.
Slimmed-down AMP to accelerate growth as profits dive
Wealth manager AMP is set to focus on its banking, superannuation and platforms businesses after further consolidation.
Call to make unions stump up for industry super fund fines
Unions would be forced to pay millions of dollars for risk reserves in industry super funds under a proposed shake-up of governance standards.
Brookfield Oaktree pushes into private credit crowd
Brookfield Oaktree Wealth Solutions is expanding into Australia’s crowded private credit market with a fund it says can respond to benign or dislocated market conditions.
Bigger the better: Batteries giving Origin life after coal
With a brutal bidding war now a distant memory, Origin Energy boss Frank Calabria is opting for an unconventional path in the race to build out clean energy.
IAG punished on premium slowdown
The insurer’s interim net profit jumped 90 per cent in the first half, but investors are more concerned about the premium outlook.
CBA accelerates tech investment to record levels
CEO Matt Comyn is ramping up the bank’s technology investment, given his staunch view of the role AI, digital infrastructure and tech execution will play over the next decade.
Banker Ross McEwan will shape BHP for decades to come
The former NAB chief executive has one major job ahead as he takes on Australia’s most powerful board role.
Mortgage lending changes ‘force more debt on graduates’
Lenders have gotten behind proposed changes to the treatment of student debt for home loans, but economists argue it will see borrowers take on more debt.
‘Green shoots’: CBA shows we’ve finally hit a turning point
The banking giant is the closest thing Australia has to a real-time measure of the economy. And big investors are now betting on an important shift coming.
Don’t bank on a rate cut: CBA
Commonwealth Bank CEO Matt Comyn says a legion of homeowners would be disappointed if interest rates were not cut next week, but says rate relief is by no means a certainty.
Macquarie quits climate alliance amid policy shift
Macquarie is the first major Australian lender to withdraw from the Net Zero Banking Alliance, while larger rival CBA will reassess its membership.
More big paydays coming for Suncorp investors ‘soon’, says boss
Suncorp will splash the cash as it hands out proceeds from its bank sale and bumper dividends, after hitting net profit of $1.1bn in the first half of the financial year.
Macquarie to bolster private credit ops as earnings track steady
The banking major has shrugged off the impact of the US pulling back from green energy and flagged scaling up its private credit operations.
Three documents at core of PwC tax scandal probe
A series of Freedom of Information searches have revealed details of the AFP investigation into PwC Australia’s tax scandal.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/5