CEO Matt Comyn says global geopolitical tensions are creating uncertainty as higher rates continue to weigh on consumer demand after Australia’s biggest bank reported flat quarterly cash earnings of $2.5bn.
ASIC warns of broader Cbus-like issues as super gint agrees to Senate hearing. Johns Lyng gets second strike. MinRes to mothball WA mine, 300 jobs impacted. Nuix sinks 20pc-plus despite CEO assurance. WiseTech hit with class action.
Paladin sinks 20pc-plus on mine challenges. Platinum Asset investors vote against pay plan. New intraday records for Aristocrat, CBA. ACCC says airfares up since ‘Rexit’, but Qantas has a different view. Business, consumer confidence up.
In the space of minutes on Monday Commonwealth Bank shares hit $150 and its market cap reached $250bn. Where to next?
Commonwealth Bank has offloaded the last vestiges of its wealth advice operations to LGT Crestone and almost 500 clients will move to the local arm of the asset management giant.
Resolute Mining CEO arrested in Mali. Endeavour’s profit warning weighs. Incitec rises on improving earnings, sale update. HMC hits record. CBA sets new peak at $150.35. DP World takeover fires up Silk Logistics.
Three Kangaroos stars battled it out for player of the match honours in Australia’s Pacific Championships final win over Tonga – but who came out on top? See our player ratings and have your say!
Super fund HESTA demands early exit for MinRes CEO Chris Ellison as partner Albemarle ramps up pressure. Scandal-hit ANZ’s cash profit drops. Cuscal kicks off $336.8m IPO roadshow. Block down on revenue miss.
Local bourse rises strongly on broad gains. Future Fund puts MinRes on notice over Ellison ‘mistakes’. Fortescue to lean on government to help with green energy costs. Domain’s disappointing update weighs.
This week’s share tips columnists examine some of the biggest names on the ASX, and they may be ripe for profit-taking.
The S&P/ASX 200 index closed down 0.8 per cent at 8180.4 points after hitting a three-week low after disappointing inflation figures and a profit warning from Woolworths. Annual headline inflation drops to 2.8 per cent. Trimmed mean CPI of 3.5 per cent meets estimates. CBA scraps call for RBA rate cut in December.
The owners of Sydney landmark Darling Park have struck several major leases in deals that show some confidence in the city’s western corridor market.
The Finance Sector Union says the Commonwealth Bank’s decision to discipline or cut bonuses from workers who breach return-to-office rules is outrageous.
CBA and Westpac say current settings are appropriate as NAB and the ABA call for changes to the serviceability buffer.
ASX 200 slips in cautious trading. WiseTech CEO resigns. CBA, Westpac rebuff flexible serviceability buffer call for home loans. Weak quarter weighs on Reece, Fortescue and Brambles. Super Retail tried to settle claims ahead of court fight. HMC lines up data play with $2bn Global Switch deal.
The Finance Sector Union has taken aim at Commonwealth Bank, accusing the bank of sending 24 jobs offshore at the same time it cuts back on its footprint in Western Australia.
Local shares rally after Friday’s sell-off as US remains resilient. WiseTech dives as Board investigates allegations against CEO Richard White. Retailers down as Nick Scali drops on profit warning. MinRes shares hit as Board backs CEO Chris Ellison amid investigation over alleged tax evasion. Vulcan issues profit warning.
Commonwealth Bank has slugged thousands of customers extra for transactions after the bank’s systems double billed many for spending on their card.
CommBank customers woke on Saturday to find funds had been taken from their accounts for transactions they had already paid for.
Australia’s biggest bank is urgently addressing a major issue that has left hundreds of customers panicking about their finances.
Original URL: https://www.theaustralian.com.au/topics/commonwealth-bank-of-australia/page/3