The tensions continue to go out of the tight conditions in global banking, especially in the eurozone.
NAB
The 2011 Crikeys: who went boom and bust in business
After another year of remarkable volatility caused by the unpredictable news flow coming out of the European debt crisis, Australian investors have every reason to be sitting on their hands. So who did capitalise?
Bartholomeusz: banks rattle the rates cage
Having had a week to think about ANZ’s bold move to distance itself from future Reserve Bank rate decisions, two of its peers have passed up the opportunity provided by their AGMs this week to announce they would emulate it.
Why retirees will be $65k worse off with financial planning fees
About a decade ago, shonky operators operating in mortgage broking led to widespread calls for more regulation. And so gradually the government worked itself into something-must-be-done mode, writes Nicholas Gruen, economist and CEO of Lateral Economics.
Kohler: the big four’s cloak-and-dagger dance
One of the more bizarre rituals of global finance is the Australian Monetary Policy Dance, where we all wait to see whether an adjustment to official interest rates is “passed on”.
Bank stand-off over interest rate cut
Crikey media wrap: The Reserve Bank’s decision to cut interest rates by 0.25% earlier this week has turned into a stand-off with ANZ the only one of the Big Four banks to pass the cuts on to customers.
Mortgage, interest rate cuts war as serious as the Nullarbor Nymph
Yes, the big four: CBA, ANZ, Westpac and NAB are sitting back and waiting for one of them to bolt from cover, so they others can get a lead on how much of the 0.25% rate cut to pass on.
Our big four banks still among the world’s most creditworthy
Australia’s AAA sovereign rating from all three ratings groups is another reason the impact on funding costs will be minimal.
Bartholomeusz: NAB keeps five to stay alive
Wayne Swan’s attack on National Australia Bank, labelling it “greedy” for “only” passing onto home loan borrowers 20 basis points of the Reserve Bank’s 25 basis point reduction in official interest rates, is churlish and betrays a poor memory.
Argus and Crawford rail against basic accountability
One of the biggest problems with Australia’s corporate governance over the past few decades has been the way a clubby network of powerful Melbourne-based directors have worked against the basic principle of accountability for poor performance.
Flagging labour productivity is understandable: report
The National Australia Bank has, with its paper The Productivity Puzzle, entered the productivity debate and its contribution won’t be much liked by conservative economists, columnists and perhaps even sections of the Reserve Bank and Federal Treasury.
Banks and competition … what competition?
Where’s the competition in banking that the banks and their industry mouthpiece say is intensifying?
Fund managers, investors on the Lemming Express
Why the shares in probably the safest of the sectors in the market had to be sold yesterday in their millions, and were then bought back in the afternoon, will be the biggest mystery of yesterday’s outing by the lemmings of Australian finance.
Memo to the banks: the housing party’s over
While many Australians realise that the housing party is over — the Financial Review reported that first “buyers joy turns to despair” — there are still a few who haven’t quite read the memo.
Banks, on IT, enough with the excuses
NAB, and as was revealed last week, Westpac, are loath to cut over to disaster-recovery mode, writes Charis Palmer.
Aussie banks ignore the basics
NAB CEO, Cameron Clyne, is in somewhat of a tough spot. On one hand, he is charged with increasing the bank’s profits, inevitably by lending more money. However, to lend more money, banks need to have money to lend — and money is getting more expensive.
Gottliebsen: how Swan gave our banks a hot flush
This month big banks have more money to lend than they ever dreamed of, which is a hidden force behind the banking price war, writes Robert Gottliebsen, of Business Spectator.
Westpac stays ‘mum’ on emergency $1b loan from US Fed
Sometimes important corporate news is ignored. Shareholders miss it, companies hide it and governments fail to publicise it.
BHP 3rd most valuable company as Liberal bank holdings hit $28m
With the federal government warning of revenue shortfalls on its new mineral resources rent tax courtesy of the surging dollar, it is clear BHP-Billiton could comfortably afford to pay billions more in tax if the MRRT variables were tweaked.
Just how overvalued is our housing sector?
In a perverse way, sometimes trying to avoid risk can actually lead to far greater loss.
Business As Usual: Iron ore market not shipshape … BP continues to bleed … Coffee price high …
In today’s business news Chinese steel companies continue to cut their ship chartering for iron ore and coking coal, BP’s share price hits a new low and New York Arabica coffee futures hit a 12 year high.
Clive Peeters gone … $160m debt too much for NAB
The board of retailer Clive Peeters yesterday appointed McGrath Nichol to act as administrator of the company after the company’s banker, NAB, refused to provide new funding to the retailer.
Fee gouging: banks may take it up the class (action)
It has taken more than a decade but finally, a serious Australian legal action has been launched against 12 of Australia’s largest financial institutions for alleged fee gouging.
Business As Usual: Chi-X Australia wins favour … matter of timing on AXA, NAB
Yesterday was a busy time for funds manager and insurer AXA Asia Pacific and the National Australia Bank, BHP Billiton will now be a tougher company to read, a new lease of life for a Melbourne printer and other business news.
Do banks really give crap customer service?
With all the bad press that banks receive, The Punch decided to put five banks to the test in a bit of old fashioned role playing, testing the speed, efficiency and friendliness of their customer service.
