ASX ends flat; US tech stocks smashed
Seesaw day on the ASX following heavy falls across US tech stocks. Investors spooked following emergence of low-cost Chinese generative AI model DeepSeek. Goodman, NEXTDC, DigiCo, uranium stocks, Nuix fall hard.
Financial Services
Wild West: ASIC tackles private credit markets
The financial regulator is weighing intervention in the growing unlisted assets and private markets amid record investor interest.
AMP to issue first numberless debt cards in Australia
The financial services group will issue the first credit or debit cards in Australia that do not feature a 16-digit number, through a partnership with Mastercard in a bid to crack down on scams.
Cbus climate targets in danger
The construction industry super fund may water down its climate targets and shift how it engages with companies on sustainability due to the strengthening anti-ESG movement.
ASIC prepares to bet it all on casino legal fight
The regulator’s blockbuster action against the casino’s former directors is about to start. And the stakes couldn’t be higher.
Annuities: A promising idea gets tangled in flawed thinking
A report about an alternative supplying retirees income for life had merit until it said it should be compulsory for the wealthier. So should the government get into the annuities business?
EML Payments should be sold off, activist investor argues
Activist investor Jeremy Raper has written to the EML Payments board arguing that the company’s brand is beyond repair and it should kick off a sales process.
Perks at forefront of new banking battleground
Banks are ramping up efforts to lure and retain transaction account customers, as competitive intensity shifts in a big way to the deposit and everyday banking market.
CBA’s China sale delivers $1bn windfall
After two decades, the banking major calls time on one part of its ambitious Chinese expansion.
Super funds back push for DEI reporting and boardroom quotas
As Donald Trump inflames the diversity, equity and inclusion debate in the US, super funds here reiterated their support for DEI reporting by ASX-listed companies.
Firstmac fined $8m over DDO breaches
Finance firm Firstmac has been ordered by the Federal Court to pay $8m for exposing customers to unnecessary risk in its distribution of investment products.
ANZ bond probe decision due by mid year, says ASIC
ASIC expects to bring its examination of ANZ’s bond market conduct to a head in the first half of the year, and it’s one of the most complex cases the regulator has dealt with.
Super sector faces fresh corporate crackdown
The corporate regulator is gearing for a fresh fight with the poorly governed and complacent superannuation industry.
An alternative way into the market for first-home buyers
Buying ‘bricks’ in houses rather than a whole property is a rising investment strategy to bridge the finance gap for first-time property buyers. Here’s what you need to know.
ASX rises; IGO lithium mine expansion shuttered
Australian shares track US gains. Wesfarmers soars on upgrade. Goodman reverses intraday gain. Monadelphous, Synlait jump on updates but Kogan dives. Trump China comments lift stocks, $A. IGO creeps up despite hammer blow dealt to lithium plant.
NAB hits out at telcos on scams
National Australia Bank says it prevented close to $50m of customer funds going to potential scammers in the final two months of last year.
Bain to look under Insignia hood after upping offer
Insignia has granted suitor Bain Capital limited due diligence after the PE firm matched rival CC Capital’s offer for the wealth manager.
ASX dips; Myer-Premier merger given nod by shareholders
ASX down after most US stocks fell. Department store chain, Premier shareholders show huge support for merger. Bain boosts Insignia offer to $4.60 per share. Evolution drops on downgrades. Fortescue ships record amount of iron ore.
Trump launches AI into a new space race
The new Trump administration’s massive spending plan will certainly flow through to a handful of Australian companies already enabling artificial intelligence.
Fundies urge ANZ to fix ‘inexplicable’ deposit errors
Fund managers are calling on ANZ to urgently rectify compliance issues, including within its under-pressure retail bank, given the risks posed by regulatory fines and further capital outlays.
Why CBA makes this investment guru nervous
Australian Foundation Investment Company boss Mark Freeman has cautioned on the outlook for equities and bank valuations.
Cut red tape and focus on economic growth, says FSC
A red tape ‘razor gang’, a review of the tax system and a growth agenda are top of the Financial Services Council’s wish list for the next federal government.
FSC’s plan to get the economy growing again
In the lead-up to the next federal election, the government’s rhetoric must be matched by concrete policy commitments that would fuel a private sector-led economic recovery.
ANZ in strife over claims customers dudded interest
ANZ is yet again in hot water with the Australian Securities and Investments Commission which is examining allegations it incorrectly calculated interest on thousands of savings accounts.
Trump offers the best chance for business to reset
There’s plenty of volatility to come, but by playing under Donald Trump’s new world order, business is poised to thrive.
Sydney lending firm enters voluntary administration
Sydney-based BNPL company Procuret has gone into voluntary administration, with a sale or recapitalisation now being considered.
Union demands intervention over bank branch closures
The Finance Sector Union, which is preparing a new round of wage negotiations, says the government should intervene to stop banks closing their branches, particularly in regional areas.
NAB has rails run in HSBC’s great Aussie bank sale
With everyone else too big or distracted, HSBC is NAB’s for the taking if the global giant decides to walk away from the local retail banking market.
Australia’s ‘greenest’ fund stumbles on Trump climate fears
The nation’s ‘greenest’ super fund, run by the $140bn UniSuper, was one of the industry’s worst performers in 2024, despite a hefty allocation to listed equities.
Where Australian businesses are booming
Regional towns across Australia are seeing a surge in demand for lending as businesses beef-up operations to meet households leaving the cities for affordable housing and a better lifestyle.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/8