CBA executive backs RBA on rate hikes
The business banking boss said small businesses are bearing the brunt of the cost-of-living crisis crunch and higher interest rates.
Commonwealth Bank Of Australia
ASX 200 ends little changed as retailers, miners fall; CBA hits record
Consumer stocks down as big names Coles, Woolworths and Wesfarmers trade ex-dividend. More pain for iron ore prices weighs on mining heavyweights. Public demand tipped to drive second quarter GDP growth.
ASX 200 rises as CBA hits record high; REA, miners fall
Bank and energy gains offset declines by iron ore and gold miners. REA falls on news it is considering a bid for Rightmove. The Star suspended from trading.
Bank gives Greens valuable lesson
Adam Bandt is more like the Sheriff of Nottingham than Robin Hood with corporate profits.
Tax cuts banked in two-speed economy
Population, public spending, trade and the mining states are keeping the ailing economy afloat.
Greens’ tax ‘insidious populism’
CBA boss Matt Comyn has lashed the Greens’ proposed $514bn ‘Robin Hood’ tax on major corporations as an exercise in ‘insidious populism’.
Bank chiefs say young hit hardest by rates and inflation
The cost of living and higher interest rates are hurting younger Australians more than most, the chief executives of Commonwealth Bank and Westpac have warned.
ASX 200 ends 0.3pc lower with energy, consumer-exposed stocks hit
WATCH LIVE: Westpac CEO Peter King speaking during parliamentary Q&A. CBA boss vows to continue lending to gas projects. Ellison’s fortunes hit in MinRes dive. Qantas, South32 flag buybacks as profits fall. Cettire down on profit slump.
Dwindling sector leaves Aussies open to social media scams: Westpac chief
Westpac chief executive Peter King told a parliamentary committee that investment scams were ‘way too common’ with many people turning to social media platforms such as Facebook to get advice, an issue exacerbated by a big fall in financial advisers.
A stronger defence weapon to save seniors from scammers
Older Australians are scammed more and lose more money than others, but new technology is delivering an extra defence layer.
CBA chief economist to move on
Bank economist says he is seeking new challenges and opportunities after serving 16 years at CBA.
ASX lowers; Woodside gains; Lovisa leads falls
BHP cuts dividend after profit fall. Coles earnings beat estimates. Woodside to walk ‘growth funding tightrope’. Guzman Y Gomez gains after profit beat. Johns Lyng dives on revenue miss. Lovisa trading update disappoints. CBA chief economist steps down.
ASX up as Kogan, ABB gain; Endeavour sinks after reporting
Ciarán Carruthers to leave Crown. Downgrades loom for Bendigo Bank, NIB. Perpetual’s impairment weighs. Kogan soars. Aussie Broadband jumps on first dividend. Kelsian tanks on capex guidance. Aviation reforms to improve competition.
CBA cuts rates as mortgage competition heats up
Commonwealth Bank’s decision to cut its fixed and some variable mortgage interest rates is good news for borrowers, and the move might herald a fresh race from lenders to go lower.
Win for millions as major bank slashes rates
Another major bank has moved to slash fixed and variable rates, following other lenders including Westpac and NAB.
The week the banks turned mean
Cushioned by government support, Australia’s big banks are cutting their deposit rates for savings accounts and crushing their last remaining competitors.
Regions proving resilient in tough times: Comyn
CBA’s chief executive says many regional communities are navigating lingering cost pressures well and expressing optimism, despite grappling with persistent labour shortages.
Bank’s staggering cash cost revealed
Australia’s largest bank has detailed the huge cost of keeping cash circulating nationwide, saying what we take for granted is “challenging”.
CBA sees progress on housing
Commonwealth Bank has eased credit settings for property developers and is beginning to see signs of recovery in the construction sector.
The $350m a year killer blow for cash users
CBA has provocatively detailed for the first time that it costs $350m a year to supply cash to its branches, in a move that will open up the vexed cash services issue yet again.
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