Australia’s Big Four banks are at the core of our entire economy, says Evan Jones, and the idea that they’re “in competition” with each other is a farce. Together, these institutions wield enormous power.
ANZ 
Bank exec bonuses helped by Rudd’s rules
Kevin Rudd may publicly deride extreme capitalism — but, fortunately for our bankers, the Federal Government’s policies appear to be aiding and abetting it.
ANZ out-gouges the NAB
Like the NAB, the ANZ has survived the financial crisis looking rudely health. Which is impressive, considering it suffered more damage from self-inflicted lending disasters than any of the Big Four.
Tips and rumours: Tips and rumours: Tighten the purse strings, while we nip off to Phuket
Which company’s senior leadership team is about to jet off for a “strategy session” in Thailand, while all other staff have been told to cut costs wherever possible?
Job ads surge should tip RBA’s hand
The chances of an interest rate rise coming either tomorrow or in November have risen with three job ads surveys all revealing a strengthening in demand for labour.
Dirty secrets of the retail super industry
ANZ’s purchase of the remainder of ING, and new rumblings about ANZ or another major acquiring AMP, shine a light on one of the dirty secrets of the retail superannuation industry: how much control the banks have.
ANZ goes shopping in the wake of the GFC
Busy times at ANZ — it’s moved to take over 100% of ING’s trans-Tasman wealth management and life insurance operations. And today it opens its first regional branch in China. Could AMP be next? asks Adele Ferguson.
Housing: the market continues to astound
The most obvious problem with the first-home-owner’s grant is that it doesn’t actually benefit home buyers, since most recipients of the grant will probably be in competition with each other.
Australian banks in a league of their own
Australian banks shouldn’t be too aggrieved by the changes to global banking rules that have been drafted this week in the Swiss city of Basle.
Is ANZ becoming a non-major?
As ANZ seeks to become a ‘super-regional’ Asian bank, its focus will shift away from serving the Australian economy. And yet its day-to-day solvency is currently guaranteed by Australian taxpayers. Risky business, says Christopher Joye. Read ANZ’s response here.
Morning Market Report: Interest rate decision coming tomorrow
It’s been a solid start to the week, with the market up 35. But the main event on the diary this week is the RBA’s interest rate decision tomorrow.
Rod Eddington unflinching at the sound of gunfire
Rod Eddington, one of Australia’s most prominent non-executive directors, has finally spoken out about his withdrawal from assuming the chairmanship of ANZ and his troubles at Allco.
Former ANZ boss seeks redemption, fails
After maintaining a dignified silence in recent years, former ANZ CEO John McFarlane has launched a valiant rearguard action, but he can’t change the fact the bank lost billions under his command.
ANZ job figures just in: 6.7% fall in job ads in June
The latest ANZ job figures out this morning will have analysts getting toey about the June labour force figures, due out on Thursday.
Suncorp won’t be in banking for much longer
Well, we know that Suncorp won’t be in banking for much longer. Why else would it hire a British insurance executive for the vacant CEO’s role?
Has the Teflon Knight finally lost his lustre?
The likely decision to walk away from the ANZ chairmanship, one of the most sought-after boardroom roles, may signal the end for Eddington.
Banks — and AFR — do the ground work for a tax-free grab
The Australian Financial Review was quick to grab and endorse a much bigger grab for the public purse by the banks, led by Cameron Clyne of the NAB.
Foolhardy ANZ CEO enters fray on executive pay
One would think that the millionaire CEO of an institution whose earnings are underpinned by taxpayer backing and legally dubious penalty fees would avoid debates concerning executive pay.
Morning Market Report: A quiet start to the week
The market is up 34, while the Dow is up 96.
Morning Market Report: Continuous jobless claims remain at record levels
A quiet day to finish off the month, with both the market and Dow up.
Morning Market Report: Market down 45, Dow down 173
The market is down 45, but ANZ is holding up well after its $2.5bn institutional placement at 1440c.
Morning Market Report: ANZ in a trading halt
ANZ are in a trading halt, pending a $2.5bn institutional placement and an additional retail share purchase plan. Meanwhile, the market is up 33 and Dow up 196.
Morning Market Report: ANZ and Amcor likely to raise over $1bn
A good day with the market up 80, and rumour has it that ANZ and AMC will be raising some capital.
Big banks grow fatter at taxpayer expense
The Federal Government’s guarantee for Australian bank deposits and borrowings has done its work. It’s time to scrap it.
