Trading DayTrading DayUS President Joe Biden triggers oil price jump. Mesoblast top gainer. Sinopec wants price review on APLNG deal. Platinum grants Regal access for higher offer. Ratings upgrade for Cochlear. Optimism underpinning latest Bendigo Bank, UBS forecasts.
ExclusiveFinancial ServicesANZ chief Shayne Elliott has vowed to make a significant number of changes to his bank’s policies and practices before the year’s end.
BankingFinancial ServicesASIC has warned ANZ’s board needs to carefully consider its compliance culture, after the bank’s failed appeal against a finding it misled the market over a $2.5bn share raising.
Trading DayTrading DayOil, gold stocks jump on Middle East conflict escalation. Jobs to go in Country Road restructure. SiteMinder insider’s $85.4m selldown. Kennett to retire after juice company merger. CEO changes at Collins Foods, KMD. CBA shuffles top deck.
EconomyEconomicsChina should come close to hitting its 5 per cent growth target for the year following the latest wide-ranging stimulus measures, experts say.
NewsNewsWireOne of the big four banks has slashed the interest rate on one of its most popular savings accounts unless customers comply with a new condition.
Emma Kirk
BanksFinancial ServicesAustralia’s top bankers are in the limelight after the anointing of Westpac’s new boss, leaving just ANZ and Commonwealth Bank to announce their future leadership line-up.
BANKINGWealthBonus savings accounts have long caused consumer confusion, and are stingy for many savers. Now they’re changing again.
CourtsFinancial ServicesANZ’s lawyers are warning court action against the bank, and the discovery of key documents, risks a ‘roving commission’ into the lender’s conduct.
THE GROWTH AGENDAThe Growth AgendaAs the Monkeys brand disappears and its last remaining founder departs from Accenture Song ANZ, what is next for the consultancy?
DANIELLE LONG
financeFinancial ServicesShayne Elliott is considering a bank-wide ban on alcohol and has flagged pay consequences across multiple levels of management, as ANZ reels from ‘significant reputational damage’.
UPDATEDBusiness Breaking NewsTwo out of the four chief executives of Australia’s major banks have tipped an early-2025 cash rate cut.
Joseph Olbrycht-Palmer and Jessica Wang Trading DayTrading DayANZ CEO Shayne Elliott tells parliament a ban on staff drinking alcohol during work hours is ‘entirely reasonable’, after its conduct scandal. Star halts as NSW casino regulator looks at licence. Ramsay and Harvey Norman fall.
EXCLUSIVEThe Growth AgendaThe Monkeys co-founder and Accenture Song ANZ boss Mark Green speaks exclusively to The Growth Agenda about his new role at the helm of creative powerhouse Droga5 as it merges with The Monkeys.
DANIELLE LONG
BanksFinancial ServicesANZ has failed to satisfy the prudential regulator’s concerns over culture and ‘non-financial’ risk management problems, with the board warned to carefully consider any executive bonuses.
NetballNetball Australia has made a call on whether its players can remain eligible for Diamonds selection if playing overseas after Donnell Wallam signed to play for New Zealand’s Mystics.
BankingFinancial ServicesAPRA has waded into a looming scandal over ANZ’s markets team, imposing an extra $250m penalty due to concerns about persistent risk governance and culture issues.
Even if the prudential regulator has pre-empted an investigation into ANZ’s bond trading, it believes the bank’s stumbles point to a broader trend.
Trading DayTrading DayAPRA slaps ANZ with $250m penalty after trading scandal. Rex administrators given more time to find buyer. Elanor scraps dividend. ASIC’s win in crypto firm fight. Inghams’ profit miss, mixed guidance. Legal battles weigh on Fletcher.
BankingBusinessThe banking major has reported more home loan customers are behind on their repayments following a raft of RBA rate hikes.
Trading DayTrading DayInflation will be ‘slow to decline’: RBA minutes. Dexus sinks on FY25 distribution warning. Ansell’s result better than expected. Judo tops expectations. Reliance results ‘operationally strong’. Yancoal slumps on weak first-half. Baby Bunting, Monadelphous gain.
City BeatBusinessSuncorp shareholders will have to wait a bit longer for promised cash flowing from the $4.9bn sale of the insurance group’s banking business to ANZ.
CITY BEAT with Glen Norris
Trading DayTrading DayASX 200 soars to two-week high after strong US gains. RBA boss says no rate cuts likely in the near term. ASX Ltd dips amid calls for chair exit. Banks rise on positive signs for net interest margins. Dispute settlement lifts Synlait, A2M. PWR Holdings dives.
BanksFinancial ServicesThe regulatory issues hanging over ANZ have spurred rival Commonwealth Bank to conduct a detailed review of its own institutional banking and markets arm.
exclusiveTechnologyThe big four bank will put 3000 staff through a new AI upskilling program as it phases out its own answer to ChatGPT, launched just one year ago.
exclusiveLeadershipIn her first interview as head of NAB’s corporate and institutional bank, Cathryn Carver talks culture, customers and growing the business.
ExclusiveFinancial ServicesANZ’s investor relations team is going ahead with a shareholder survey of perceptions of the bank which is expected to spur a raft responses about its handling of the bond trading scandal.
Trading DayTrading DayThe local sharemarket ends slightly in the red, as investors ditch property, mining and energy stocks. RBA ‘won’t hesitate’ to life rates if necessary, Bullock says. ACCC can appeal CFMEU/Hutchinson court decision.
City BeatBusinessANZ has a new top man in Queensland following its recently completed $4.9bn acquisition of Suncorp Bank.
BanksBusinessA freedom of information request shows ASIC and the AOFM saw ‘warning signs’ with a $14bn bond placement by ANZ months before launching a formal investigation in October 2023.