Business
Banking & finance
Economic headwinds hamper AMP’s banking business
While shareholders cheered the overall result as being not as bad as expected, the group was challenged over lacklustre performance by its AMP Bank division.
- by Sarah Danckert
Latest
Updated
Earnings season
CBA boss warns on rising late payments as bank posts $5b profit
CBA chief executive Matt Comyn said late payments likely to tick up as customers faced cost-of-living pressures. The bank’s shares fell as its profit declined.
- by Millie Muroi
Macquarie boss flags lower profits amid deal-making slump
Macquarie chief executive Shemara Wikramanayake says confidence remains weak in the market for mergers and acquisitions despite the recent pause in interest rate rises.
- by Millie Muroi
CBA profits expected to top $5 billion despite margin squeeze
The Commonwealth Bank is tipped to post half-year cash profits of more than $5 billion.
- by Millie Muroi
Opinion
Big four
Ross McEwan saved the NAB. He’s a tough act to follow
Turning a basket case into a high-performing enterprise is a sure fire way to attract admirers. Inheriting a well-oiled corporate machine makes it harder to excel.
- by Elizabeth Knight
Opinion
Global economy
The slow burn that is a big problem for the world
A spate of recent bank losses and CEO resignations has a common underlying cause that is setting off alarm bells around the globe.
- by Stephen Bartholomeusz
Updated
Executive shake-up
NAB appoints business boss Andrew Irvine as next CEO
Ross McEwan will step down in April after nearly five years in the role and will be replaced by the bank’s head of business and private banking, Andrew Irvine.
- by Millie Muroi
Insurers call for planning reform to curb rising premiums
Some of the country’s largest insurance companies have admitted making mistakes in their response to the 2022 floods, but warned premiums would continue to rise unless planning laws are improved.
- by Sumeyya Ilanbey
Opinion
Big four
CBA has a rock star share price, but it’s hard to find groupies
How a solid, cyclical bank’s shares are behaving like they belong to rock star company with massive blue-sky growth is, as one analyst put, a head-scratcher.
- by Elizabeth Knight
‘Tide has turned’: Banks start to cut fixed rates
Lenders have started cutting fixed interest rates on home loans, as markets bet the Reserve Bank will reduce official interest rates later this year.
- by Millie Muroi
‘Risible’: Federal Court justice slams $9.8m Westpac settlement
Justice Michael Lee said Westpac’s agreement to pay a $1.8 million penalty and $8 million for litigation and investigation costs for unconscionable conduct would shock many people.
- by Millie Muroi