CBA lifts variable rates for property investors
The Commonwealth Bank of Australia has become the latest bank to raise interest rates for property investors, blaming higher funding costs and regulatory requirements.
The Commonwealth Bank of Australia has become the latest bank to raise interest rates for property investors, blaming higher funding costs and regulatory requirements.
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As interest rates start to rise, the changes are taking effect much faster compared with when rates were falling.
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ASIC's cases against ANZ, National Australia Bank and Westpac for the alleged rigging of the bank bill swap rate could be heard together in a trial that may extend into 2018.
ANZ Bank has followed rivals in pushing up variable interest rates for property investors, blaming higher funding costs and its obligations to regulators.
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"Who do you think you f---ing are? ... If you try to get me, I'm going to throw you under the f---ing bus."
Westpac and National Australia Bank have both raised interest rates for key groups of home loan customers, as banks look to protect their profit margins by passing on higher funding costs.
The Commonwealth Bank has been forced to pay a further $4.96 million in compensation to victims of bad financial advice as a result of being slapped with licence conditions by the corporate regulator.
Fairfax Media and the ABC have won a defamation case brought against them by a former National Australia Bank financial planner.
SocietyOne, a peer-to-peer lender that is partly owned by Rupert Murdoch, Kerry Stokes and James Packer's companies, expects to start making profits within the next 12 to 18 months.
Suncorp Group is trying to emulate the success of Apple Stores with new financial services outlets that attempt to make going to a bank more like visiting a top retailer.
When Coalition backbencher George Christensen tweeted on November 25: "My opinion just changed. We do need a royal commission," it would have struck fear into the hearts of the captains of banking.
ME bank customers have complained of not being able to purchase petrol and groceries, with outages disrupting numerous debit and mastercard transactions on Friday afternoon.Â
CBA is raising interest rates on a range of fixed-rate home loans, the latest big bank to increase costs for home buyers seeking to lock in their borrowing costs.
If Mnuchin becomes Treasury secretary, he'll be the third Goldman Sachs alum in three decades to get the job as the President-elect surrounds himself with bankers and billionaires.
ANZ Bank chief Shayne Elliott insists the bank's strategy of breaking ranks with rivals and doing a deal with Apple Pay is helping the lender's business.
The high-rise construction boom that is transforming the skylines of Sydney, Melbourne and Brisbane will probably leave parts of these cities with too many apartments, ANZ Bank chief executive Shayne Elliott predicts.
Bank of Queensland chairman Roger Davis has highlighted the risks from a looming surge in apartment settlements Brisbane and Melbourne, amid signs more buyers are facing difficulties completing off-the-plan purchases.
The then-wife of Billabong boss Matthew Perrin thought he was going to admit he had been unfaithful again when he confessed, "I've done a lot of bad things".
Up to 150 jobs will be made redundant at Victoria's largest gold mine where underground mining is ceasing due to declining profitability.
By 2019-20, residents in NSW will pay $23.7 billion in GST and get back just $17.8 billion.
There's a big downside to NSW's economic success.
Temple & Webster is merging the Milan Direct collection into its own online store and shutting down the Melbourne office of the high profile brand.
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A free independent guide from SMH with expert information.
A free independent guide from SMH with expert information.
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