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No winners from bank tax after ratings cut

Bank of Queensland is facing an increase in the cost of funds which means higher mortgages rates are not far away.

The regional banks are now poised to hike mortgage rates after their credit ratings were downgraded.

Bank levy to come at a price

The banks have all but given up any hope of fighting the levy which has got too much political traction but they are not going to roll over without explaining why it's a bad idea.

Philanthropists Andrew Forrest and his wife Nicola in Parliament House

The business of philanthropy

While Andrew and Nicola Forrest's $400 million gift to society is an extreme example of modern philanthropy in Australia, it's also part of a bigger trend.

"Housing is a central part of the Australian economy", says expert Shane Oliver.

S&P cuts ratings for 23 financial firms

The global credit ratings agency has lowered the ratings of 23 Australian financial institutions as the risk of a sharp correction in property prices looms.