Poor culture: Customers lose out again
The banks might not have acted illegally when throwing customers to the wall, but they did behave unconscionably.
Stock Ticker
- AGL AGL ENERGY LIMITED. 1.12%
- AIO ASCIANO LIMITED 0.11%
- AMC AMCOR LIMITED 1.65%
- AMP AMP LIMITED 0.00%
- ANZ AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -0.79%
- APA APA GROUP -0.66%
- ASX ASX LIMITED 3.00%
- AZJ AURIZON HOLDINGS LIMITED -0.91%
- BHP BHP BILLITON LIMITED 0.16%
- BXB BRAMBLES LIMITED 2.27%
- CBA COMMONWEALTH BANK OF AUSTRALIA. -0.67%
- CCL COCA-COLA AMATIL LIMITED 0.70%
- CPU COMPUTERSHARE LIMITED. 1.99%
- CSL CSL LIMITED -0.44%
- CTX CALTEX AUSTRALIA LIMITED 0.96%
- DXS DEXUS PROPERTY GROUP 0.23%
- GMG GOODMAN GROUP -0.70%
- GPT GPT GROUP 0.58%
- IAG INSURANCE AUSTRALIA GROUP LIMITED 0.68%
- IPL INCITEC PIVOT LIMITED 0.34%
- JHX JAMES HARDIE INDUSTRIES PLC 2.20%
- LLC LENDLEASE GROUP -2.59%
- MGR MIRVAC GROUP -1.27%
- MPL MEDIBANK PRIVATE LIMITED -5.49%
- MQG MACQUARIE GROUP LIMITED -0.31%
- NAB NATIONAL AUSTRALIA BANK LIMITED 1.26%
- NCM NEWCREST MINING LIMITED 3.78%
- ORG ORIGIN ENERGY LIMITED -3.42%
- ORI ORICA LIMITED 0.39%
- OSH OIL SEARCH LIMITED 0.30%
- QAN QANTAS AIRWAYS LIMITED -2.35%
- QBE QBE INSURANCE GROUP LIMITED -0.35%
- RHC RAMSAY HEALTH CARE LIMITED 1.80%
- RIO RIO TINTO LIMITED -0.64%
- S32 SOUTH32 LIMITED 0.64%
- SCG SCENTRE GROUP -1.47%
- SEK SEEK LIMITED 0.89%
- SGP STOCKLAND -0.22%
- SHL SONIC HEALTHCARE LIMITED 1.42%
- STO SANTOS LIMITED -4.64%
- SUN SUNCORP GROUP LIMITED -1.26%
- SYD SYDNEY AIRPORT 0.99%
- TCL TRANSURBAN GROUP 2.81%
- TLS TELSTRA CORPORATION LIMITED. 0.72%
- VCX VICINITY CENTRES -1.47%
- WBC WESTPAC BANKING CORPORATION 1.02%
- WES WESFARMERS LIMITED 1.21%
- WFD WESTFIELD CORPORATION -1.22%
- WOW WOOLWORTHS LIMITED 1.39%
- WPL WOODSIDE PETROLEUM LIMITED -0.52%
Key Stories
Big four finally feel the slowdown
Banking has changed dramatically since the global financial crisis, and it is finally affecting shareholder returns.
'Big Short' trader's big bridezilla bet
The man made famous for betting against dodgy home loans in the run-up to the GFC is now wagering on a different kind of finance: wedding loans.
US stocks edge higher as gold jumps
Wall Street staged a comeback on Friday afternoon as the market digested the latest US jobs report.
Panama whistleblower breaks silence
The source, in his first public comments, said the leaked files could spur thousands of prosecutions related to offshore money laundering and tax evasion.
CBA cop a lashing from Senator Ketter
The chair of the powerful Senate economics references committee has hit out at Commonwealth Bank of Australia chief executive Ian Narev.
Wildfire's force majeure rocks oil giants
BP, Suncor and Phillips warn oil deliveries will be disrupted as the wildfire in Canada rages on.
- Consumer Affairs How Adidas is nutmegging the taxman
- Retail And on the seventh day they shopped
- Comment & Analysis BHP's slow road to Samarco
- Property REITs are back in the black
- Retail Fashion a victim of the endless summer
Market Indices
Last updated: May 7, 2016 - 7:15AM
Last updated: May 7, 2016 - 7:15AM
Last updated: May 7, 2016 - 7:15AM
Last updated: May 7, 2016 - 7:15AM
And on the seventh day they shopped
The seventh day shall be for shopping, Sundays are big business for grocery and the major chains are working overtime to make the most of this lucrative trading day.
In Depth
We know nuthin', so count on your luck
Successful people often credit their skill and hard work. Nothing could be further from the truth.
Super rich were first to bail in GFC
When the going gets rough, the 1 per cent start selling.
Interest rates could change again
VIDEO: What'll be the political impact of another rate cut as we approach an election? Chief political correspondent Mark Kenny explains.
Workplace
A world of opportunity
Global experience can help you build a stellar career.
Meet your newest, dumbest co-workers
Never talk to a human at work ever again.
Markets
Super rich were first to bail in GFC
When the going gets rough, the 1 per cent start selling.
'Paralysing volatility' troubles Wall Street
From stocks to currencies and bonds, the turbulence is chasing all but the bravest traders from financial markets.
Black market bank's Budovsky gets 20-year sentence
The co-founder and owner of a digital-currency business that prosecutors called a "black market bank" was sentenced to 20 years in prison.
- Warren Buffett's railroad profit drops
- As P/Es fall out of lockstep, stock rethink required
- Wall St edges higher on rate rise rethink
- Goldman resets iron ore forecasts with a supply warning
- Iron ore sheds 12pc on week
- Pound ends week down 1.2pc
- ASX gains for a fourth week on rate cut hopes
- Sundell tops directors' trades, collecting more than $5 million
Markets Live: $A dives on rate cut bets
Search Quotes & Charts
The Economy
Second interest rate cut on the cards
There could be another interest rate as soon as next month, throwing a wildcard into the election campaign.
Sorry, Scott, I don't believe it
As you may have heard Scott Morrison mention a time or two this week, this isn't an ordinary budget.
Retail
Metcash asks competition watchdog to investigate its acquisition of Home
The competition watchdog had launched a review of Metcash's proposed acquisition of Woolworths' Home Timber & Hardware business, ending months of speculation over its interest in the business.
Blackmores heads into Chinese herbal medicine
Vitamins firm Blackmores is expanding into Chinese herbal medicine with the $23 million purchase of Byron Bay firm Global Therapeutics.
Banking & Finance
Macquarie Group posts record $2.1b profit
Macquarie Group has beaten analyst expectations to post a $2.06 billion annual profit, but cautioned next year's result will be "broadly in line" with 2016.
Macquarie's chief Moore committed to top job, despite headwinds
Macquarie Group's chief executive Nicholas Moore hasn't lost his zeal for the top job as he delivered a record annual profit on Friday and cautioned of moderating earnings growth.
Mining & Resources
Goldman resets iron ore forecasts with a supply warning
Goldman Sachs raised its iron ore forecasts for the remainder of the year after a surprise rally at the start of 2016.
Iron ore sheds 12pc on week
Iron ore posted the biggest weekly loss in four years after China quelled speculation in raw-materials trading.
World Business
Trump's finance chair linked to Madoff
Donald Trump's new national finance chair was sued in 2010 for $US3.2 million in fake profit from his mother's account with Ponzi scheme mastermind Bernard Madoff.
$45m headache for Nurofen maker
Last week, it was fined for misleading consumers about its Nurofen painkillers, now Reckitt Benckiser is under fire again.
Consumer Affairs
CBA cop a lashing from Senator Ketter
The chair of the powerful Senate economics references committee has hit out at Commonwealth Bank of Australia chief executive Ian Narev.
How Adidas is nutmegging the taxman
Adidas' revenues and gross profits have more than doubled in 17 years but they managed to pay less income tax last year than they did in 1999.
Featured advertisers
Property Focus
Goodman Group on target for growth
Goodman Group looks set to see strong growth this year, as they have just had their best quarterly results for years and demand from the e-commerce sector and urban renewal projects remain high.
Shopping centres wary of warm winter weather
The abnormally warm weather across Australia's eastern seaboard has not slowed fashion sales in shopping centres but there are concerns it may have an impact.
'That job has now been done': Lowy bids adieu
Frank Lowy has performed his final official duties as chairman of the company that now runs the Australian and New Zealand part of the Westfield shopping centre empire he began 57 years ago.
Accor expands Melbourne hotel assets
Mirvac, Goodman on track for earnings growth
Mirvac and Goodman Group are on track to reach their end-of-financial-year earnings forecasts as they benefit from strong demand for residential and industrial assets.
Executive Style
12 women's watches to dazzle you
Feast your eyes on a dozen delicate timepieces designed to stand out.
Money
How to get a 4G mobile service for less
Only Telstra, Optus and Vodafone operate mobile networks in Australia, but you don't have to buy your service through them.
The key to health, wealth and happiness
Can money make you happy? It's not about how much you have, but what you do with it.
Small Business
Mum's Taxi: Uber for women gears up
That one where a comedian started a ride-sharing app for women and children.
How positive thinking fails us
Don't be positive. Be useful. It's going to get much better results.
Business Video
Stocks rebound despite jobs report
US stocks closed near the session's highs. But the major indexes lost ground for the second straight week.
- Duration
- 01:15
-
- Duration
- 00:41
-
- Duration
- 01:53
-
- Duration
- 00:00
-
- Duration
- 00:36
-
- Duration
- 01:43
-
- Duration
- 01:31
Comment & Analysis
How Adidas is nutmegging the taxman
Contains:
The price of being a whistleblower
Contains:
total comments10
Sorry, Scott, I don't believe it
Contains:
total comments42
This article contains a video.