The federal government is finally withdrawing its guarantees to banks and the state governments that allowed both groups to have a good recession. The measures kept our banks alive, but they gave the Big Four too much power.
ANZ
Uni campus’ reloadable ANZ card draws some heat
In an Australian first, Sydney University and ANZ have announced an all-in-one access card, ID card and Visa reloadable prepaid card, as part of a move towards a “cash-free campus”, writes Bhakthi Puvanenthiran.
Aussie bankers doing fee-nominally well
Executives at our biggest banks continue to enjoy a myriad benefits, the Big Four being among the most generous remunerators of executives in business. But lower-paid workers have not been so lucky.
Variety is the space of life for big-spending ANZ
NZ shareholders will be hoping that their $500,000 boardroom table is a better investment than a$1400 rubbish bin
Tips and rumours: Tips and rumours: a vicious newspaper turf war?
Rumours are rife in suburban Brisbane that Fairfax or APN is about to make a move and take on Quest Newspapers in what promises to be a vicious turf war in the community newspaper market.
Tips and rumours: Tips and rumours: No holidays for grant writers
Kevin and the rest of Canberra are allowed to have a holiday break, but not the local governments and community groups busy trying to pen grant applications during a heat-wave in the holiday season.
Banking competition: the great Australian oxymoron
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.
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.
