This Month
Familiar with the consumer data right? Here’s why you should be
The philosophical basis for the right is that data generated by consumers of commercial services is their property and not that of the company.
- James Eyers
- Exclusive
- Open banking
‘Badly executed’: Labor unveils plans to simplify consumer data right
A raft of enhancements to the open banking and energy sector data-sharing regime will be unveiled on Friday to boost adoption.
- James Eyers
Bank stocks cauterise bleeding, analysts still stumped on valuations
Banks found a bottom on Tuesday, bouncing off steep losses. Despite the sell-off, analysts say they remain overvalued and earnings season will show why.
- James Eyers and Lucas Baird
ANZ bond trading scandal ‘risks unknown’: Macquarie
Macquarie analysts have run the numbers on what ANZ’s bond scandal could do to its profits whilst conceding some costs are hard to measure.
- Jonathan Shapiro
Banks say consumer data right ‘action initiation’ rescue will cost $3b
Ahead of a parliamentary vote next week to extend the consumer data right to boost switching, the ABA is pointing to costs and risks as reason for delay.
- James Eyers
Worst day for ASX since SVB crisis as US recession fears surge
Australian shares ended their worst session in more than a year on Friday after fears of a hard economic landing returned in droves in the US overnight.
- Updated
- Joanne Tran and Joshua Peach
Nick Molnar to step up at Block, will report to Jack Dorsey
On the three-year anniversary of Afterpay’s blockbuster sale to Block, its founder Jack Dorsey has promoted Nick Molnar to head of sales.
- James Eyers
July
- Opinion
- Chanticleer
Shadow of JPMorgan’s Dimon hangs over red-hot Aussie banks
Huge share price runs are great for the banks. But they also create an unexpected problem for bank bosses.
- Anthony Macdonald
NZ regulators probe banks over government bond trading
As ASIC’s investigation into suspected manipulation in the government bond market heats up, New Zealand’s corporate watchdog is making its own inquiries.
- Jonathan Shapiro
ANZ can finally get under the hood of Suncorp Bank
ANZ chief Shayne Elliott said the $4.9 billion deal, which formally completed on Wednesday, will allow it to “compete more effectively across the Australian market”.
- James Eyers
ACCC wants banks to make foreign exchange calculators more accurate
The regulator has proposed changes to FX calculators to ensure banks subtract fees, so customers have genuine transparency.
- James Eyers
‘Risks elevated’: APRA holds banks’ mortgage rate buffer at 3pc
APRA said an uncertain economy, geopolitical instability, high household debt and inflation remain key risks for banks, compelling it to keep the loan buffer intact.
- Updated
- James Eyers and Jonathan Shapiro
- Opinion
- Opinion
It’s the bond trader that’s overvalued, say Buffett and Gorman
As ANZ’s board battles to contain an escalating bond trading scandal, it must decide whether it could have been avoided and whether it was worth the trouble.
- Jonathan Shapiro
Super funds put ANZ board, executives on notice over trading scandal
The intervention came as brokers began to warn that the alleged misconduct could lead to regulators forcing ANZ to hold more capital than its rivals.
- Jonathan Shapiro
- Analysis
- Analysis
Could ANZ’s trading scandal trigger executive accountability laws?
ASIC declined to say whether its ANZ investigation involved the Financial Accountability Regime. But an ANZ update this week was speaking the language.
- Updated
- James Eyers
- Updated
- ANZ Bank
ANZ says bond trading scandal fallout could extend to the very top
The ANZ board may be forced to take action against the bank’s chief executive Shayne Elliott and other senior managers over the misleading trading data submitted to the federal government and investigations into its workplace culture.
- Updated
- Jonathan Shapiro
- Opinion
- Opinion
ANZ’s bond trading scandal is now too serious to contain
An update on Thursday reveals that the bank and its board are under no illusions about the consequences they may face from the escalating markets scandal.
- Jonathan Shapiro
Trim mortgage ‘risk weights’ to help first home buyers: Barrenjoey
Barrenjoey called on APRA to allow banks to reduce mortgage “risk weightings” for first-time borrowers and for ASIC to drop HECS debt from responsible lending.
- James Eyers
- Analysis
- Commercial real estate
The new risk lurking in banks’ commercial real estate lending
While working from home is a known risk for office towers, Citi highlights a new pressure point for lenders – the growing cost of the energy transition.
- James Eyers
Booming Cash Converters revenues point to squeeze on the poor
The ASX-listed pawnbroker told investors the increase was partly tied to “mainstream finance” being “more difficult to access” for many of its customers.
- James Eyers
