ASX Announcements
This Month
- Updated
- Aviation
Qantas board failed to challenge Joyce’s ‘command and control’
Qantas’ incoming chairman John Mullen said bonus practices at the airline had been problematic as the board was unable to override “the formulaic results of a compensation scheme” if there was a major scandal.
- Updated
- Ayesha de Kretser and James Thomson
Dodgy kickbacks, faked tax returns found in RAMS, Westpac alleges
Westpac said it would effectively shut down the 33-year-old RAMS brand this week amid an ASIC probe into the business.
- Lucas Baird
How Scape saved $8m by shaking off private credit
The student housing operator’s refinancing push has found ample support from global banks looking for alternatives to office property exposures.
- Aaron Weinman
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
ASX swings; Rinehart’s Olympic cruise; Wall Street got off lightly
Read everything that’s happened in the news so far today.
- Updated
- Home loans
Westpac shuts down RAMS Financial amid regulatory probe
The bank said on Tuesday that it would close the RAMS business to new home loans immediately after a strategic review, ending its 33-year history as a challenger brand.
- Lucas Baird
ASX tops 8100; PwC’s unusual hire; Beware rate cuts mood
Read everything that’s happened in the news so far today.
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
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
‘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
- Chanticleer
Macquarie has partly reversed its ban on banking coal deals
Sentiment against part of the coal industry has softened, and Macquarie has read the tea leaves.
- Anthony Macdonald
Westpac wins endless gag order on executive court dispute
Federal Court judge Elizabeth Raper said open justice was “a” – not “the” – fundamental principle of the Australian justice system.
- Max Mason and Lucas Baird
- 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
How to spot a good – or bad – private credit fund
Growth in non-bank lending presents new opportunities for investors. But with higher returns comes added risk.
- Michelle Bowes
Has the CBA share price peaked?
After the Commonwealth Bank’s latest record, analysts and fund managers are wondering whether the hyper-rally in bank stocks can be sustained.
- James Eyers
ASX dives; Trump to accept nomination; Penthouse fetches $12m
Read everything that’s happened in the news so far today.
Prudential watchdog halves $1b Westpac penalty
APRA will slash its $1 billion capital penalty levied on the bank four years after it was first implemented.
- Lucas Baird
New Zealand inflation slows to three-year low
Three of the country’s main banks brought forward forecasts for RBNZ rate cuts after the inflation report.
- Matthew Brockett
Westpac wins $15m fruit stand fraud case
Fresh Xpress created “entirely fictitious” accounts, which included fake invoices and overstated profits, a court has found.
- Lucas Baird
Akaysha signs $650m debt deal for giant NSW battery
The system to be built near Wellington will be one of the largest in the world. The BlackRock-owned group has also struck a supply deal with EnergyAustralia.
- Angela Macdonald-Smith
