Financial Services
Pressure on as ANZ card rate cut
Michael RoddanThe ANZ has caved to public pressure and cut credit card rates to their lowest point in more than a decade.
Super funds deny union donations
Michael RoddanAustralia’s union-backed industry superannuation funds have doused suggestions they donated millions to union groups.
Backbenchers resist bank push
DAVID CROWE, SARAH MARTINCoalition MPs are pushing back against calls to cancel company tax cuts for the big four banks.
GetCapital gets capital launchpad
Michael BennetOnline small business lender GetCapital has secured a $100 million debt facility to launch a new brand.
Vanguard offers a global option
Glenda KorporaalVanguard is to challenge Australian managers by offering local investors actively managed global funds.
PM rejects banks tax push
DAVID CROWE, SIMON BENSON, SARAH MARTINMalcolm Turnbull has rejected a call from some Coalition MPs to drop the big four banks from his company tax cut policy.
Banks will lift game: Bligh
RICHARD GLUYASNew ABA boss Anna Bligh says it’s wrong “to say the banks are not serious about doing a better job”.
Insurers face hit on climate risks
Michael RoddanDirectors could be in breach of their duties if insurers fail to factor in climate change risks and disclose them.
Link sees growth potential
MICHAEL RODDANCEO John McMurtie says pressure from fund trustees to lower fees will be the backbone for Link’s growth.
Watchdog pans insurers
Michael RoddanCorporate watchdog chairman Greg Medcraft has attacked the insurance industry for selling ‘appalling’ products.
Upbeat ANZ flags capital returns
Michael BennetShayne Elliott has raised the prospects of giving back some of the bank’s growing capital pile to shareholders.
Soul Patts lifts Hunter Hall bid
Daniel PalmerWashington H. Soul Pattinson is offering $2.20 per share for the fund manager, in line with Pinnacle’s latest play.
ANZ’s cash profit jumps 31pc
Daniel PalmerANZ’s cash profit rose to $2bn in the first quarter on growth in home lending, asset sales and a better outlook for bad debts.
Anna Bligh’s new horizon
Will GlasgowIn a surprise move, the former Queensland Premier has taken on a politically challenging role in an unfamiliar industry.
Call for Trump-style tax overhaul
ANDREW WHITEFund manager Hamish Douglass has hailed plans to slash US taxes and called for a broad overhaul in Australia.
Auswide spreads its risk
RICHARD GLUYASAuswide Bank has taken a majority stake in the marketplace lender MoneyPlace to offset a home-lending credit crunch.
NAB invests in health start-up
Michael BennetNAB has unveiled its second investment in a start-up that could disrupt the lender’s own business.
RBA warns of ‘mortgage stress’
Michael BennetThe RBA’s assistant governor wants lenders to closely monitor “pockets of potential stress” in the mortgage market.
Magellan sinks on profit dive
Daniel PalmerMagellan shares have swooned 7pc after it booked a 20pc drop in first-half profit amid sharp falls in performance fees.
Macquarie can’t avoid US suit
Andrew ScurriaA US judge has rejected Macquarie’s bid to end a bond insurer’s lawsuit over $US496m in soured toll-road debt.
