Financial Services
Bank puts jobs on hold
VERITY EDWARDSBankSA has declared war on the SA government, putting 150 proposed jobs on hold in protest at the new banking levy.
Jobs plan shelved over bank levy
DAVID UREN, RICHARD GLUYASWestpac has shelved a proposed expansion in South Australia as immediate retaliation for the state’s proposed bank levy.
Banks warn of investor backlash
RICHARD GLUYASThe SA government faces a possible constitutional challenge to its levy on the banks unveiled in its budget.
BankSA retaliates over levy
Verity EdwardsBankSA has announced it will put plans to open a processing centre in the state on hold, potentially costing 150 new jobs.
NAB hikes interest-only rates
Stuart CondieNAB has followed its peers by raising variable rates for interest-only mortgages, in a bid to slow riskier lending.
Banks could target SA borrowers
Stuart CondieSouth Australians may face targeted rate rises following the state government’s flagging of its own bank levy, says UBS.
SA copied bank tax: Shorten
PRIMROSE RIORDAN, RICHARD GLUYASBill Shorten says Jay Weatherill has ‘copied’ the Coalition’s bank levy, but he doesn’t criticise the SA Labor Premier.
US may yield investment billions
Cameron StewartA mission to the US says President Trump’s infrastructure plan will unlock billions in investment opportunities.
Banks fuming over ‘joke’ SA levy
RICHARD GLUYASThe big lenders have reacted angrily to South Australia’s surprise unveiling of a new bank levy in the state budget.
SA to bring in its own bank levy
Verity EdwardsSA Treasurer delivers a pre-election budget centred on job creation and record infrastructure spending.
QBE credibility under scrutiny
Michael RoddanManagement at QBE is again under fire after a relatively small downgrade prompted a beating by investors.
Judo Capital takes on big banks
RICHARD GLUYASJudo Capital has successfully written its first half-dozen loans ahead of a full public launch in August.
QBE dives after claims blowout
Michael RoddanInvestors savaged QBE Insurance, dumping shares worth $2bn, after it reported a rise in claims in the emerging markets.
Medibank maps nation of claims
Sarah-Jane TaskerPeople in NSW are more likely to go to the optometrist while Victorians are the biggest spenders on physiotherapy.
QBE dives on higher claims
David RogersQBE shares tumbled over 10pc after it lowered guidance on the back of higher-than-expected emerging market claims.
Rate hikes take toll on borrowers
Michael RoddanInterest rate increases on borrowers are showing signs of stressing the housing market.
Stocks fall on bank levy
RICHARD GLUYASThe four major banks and Macquarie have failed in their campaign for amendments to the $6.2bn bank levy.
Advisory boom lifts Deloitte
Damon KitneyDeloitte Australia CEO Cindy Hook says the firm is forecasting low double-digit revenue growth in the year ahead.
Westpac ups interest-only rates
Michael Roddan,Westpac has become the latest bank to slug interest-only borrowers with higher rates in a bid to comply with APRA’s rules.
Moody’s impact downplayed
Michael RoddanBanks and analysts says Moody’s credit downgrade for the banking sector will do little to alter its costs of funding.
