Budget put a 'target on chests' of the banks
It's all bad news for the nation's banks as the shock $6 billion levy revealed in Tuesday night's budget sinks in with market watchers.
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Mathew Dunckley
Mathew Dunckley in BusinessDay Editor for The Sydney Morning Herald and The Age. Based in our Melbourne newsroom, Mathew has over more than 15 years experience as a journalist and editor.
Budget 2017: Small business celebrates win on tax break
A popular tax write-off scheme for small businesses will be extended for another year in a significant win from the Budget for the sector.
Bank rout wipes out $14 billion in value
Commonwealth Bank, Australia's biggest bank, has seen third-quarter cash profits rise 4.3 per cent as the credit quality of its lending business "remained sound".
New bank tax would hit borrowers, says UBS
A new $6 billion tax on banks tipped to be revealed for Tuesday night's budget would likely be passed straight onto customers, says a major investment bank.
Slimmed-down bank branches head for the mall
Diving over the counter transaction rates and changing shopping habits look set to accelerate bank moves from large high street branches to slimmed down mall positions.
Retailers on verge of a 'recession'
There is no sign of respite for the nation's struggling retailers, particularly department stores, as shoppers refuse to spend in the face on an uncertain economy.
Pre-commitment deal gets new precinct trucking
Transport companies CIMC Vehicle Australia and Marshall Lethlean will combine the south-east Melbourne operations under a pre-lease deal at a Cranbourne West industrial precinct.
No conflict problem here, Westpac rejects push to split banks
Westpac Banking Corp chief executive Brian Hartzer has defended vertical integration as the sector prepares for another inquiry.
Westpac sees growth as NSW shines in growing economy
Westpac has unveiled an $4.017 billion cash profit for the first half of the financial year.
Westpac chief bats away Adani 'wimps' tag
Westpac Banking Corp has hit back at a federal minister's criticisms of its new climate change policies that will restrict its lending to new coal mines.
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