KKR's bid for Pepper could spell big payday for chairman

Home loan provider Pepper Group has received a $650 million bid from private equity firm KKR, which could result in a near $200 million payday for chairman Seumas Dawes if a deal goes ahead.

Banks cashing in with interest-only mortgages

Interest-only lending is now twice as profitable for a bank as lending money to customers paying back a mortgage on a home in which they live, new research says.

Bad news for those waiting for a pay rise

• COMMENT

Even though unemployment is near a four-year low, wage growth is still miserable.

SA bank tax blocked by opposition

South Australia's opposition has vowed to block the state government's bank tax in the upper house, after a fierce campaign against the $370 million levy from the powerful banking industry.

Property investors should expect more interest rate pain

• COMMENT

Banks could have plenty of excuses to raise interest rates further, and investors can expect to be targeted.

Fewer perks, but more competition from credit card rule change

Consumers can expect to receive fewer perks for using bank-issed American Express cards from this weekend, as rules that are set to shake up the credit card market come into force.

ANZ Bank sells 'tens of millions' in SA bonds over state bank tax

ANZ Bank chief executive Shayne Elliott has warned South Australia would face higher borrowing costs if other banks lower their exposure to the state as a result of its bank levy, as ANZ has done.

ASIC raids aren't a surprise, they should be

The corporate cop would no longer need to tip off targets of its investigations before obtaining a search warrant, something it must sometimes do today, under draft recommendations from a key government taskforce.

Low wages drive IAG surge to new record

Insurance Australia Group shares struck a record high on Wednesday after the insurer unveiled a hefty profit upgrade, thanks to much lower claim costs than it had expected.

Australian banks told to reform sales targets by Wells Fargo whistleblower

"If you don't fix your sales goals systems here in Australia, I'll see another similar to Wells Fargo scandal happening here in the future," says Kilian Colin, a whistleblower from the US bank.