Business
Banking & finance
CBA wraps up divestments with ‘soft’ $1b insurance sale
Commonwealth Bank has sealed its last major deal to divest non-core businesses, but the price tag was softer than some expected.
- by Clancy Yeates
Latest
Wall Street still hasn’t figured out how to make much money in China
Wall Street banks are struggling to make a dent in the world’s second-biggest economy.
Judo Bank’s valuation hits $1.9b, says float ‘an option’
Challenger lender Judo Bank has wrapped up a quick-fire $124 million equity raising to help fund its aggressive growth in the small business market.
- by Clancy Yeates
Welcome to the revolution: meet the fintech founders disrupting super
While it started as a share trading site, Superhero founders John Winters and Wayne Baskin can’t wait to unleash it on the $3 trillion superannuation industry.
- by Jessica Irvine
Opinion
Fintech
Why the banks won’t touch bitcoin anytime soon
A pillar of the global financial establishment recently revealed its view on cryptocurrencies: it is extremely sceptical.
- by Clancy Yeates
Updated
Network outage
‘Widespread impact’: Banks back online after nationwide tech outage
Online banking services have resumed after an hour-long outage hit most major lenders and disrupted other websites, including the RBA and Virgin Australia.
- by Charlotte Grieve and Tim Biggs
China escalates crackdown on $US1 trillion market
China’s crackdown on shadow banking is taking aim at more than $US1 trillion of opaque investments sold by banks as low risk and high yield, even while funds were channelled to riskier borrowers such as developers.
- by Bloomberg News
‘More motivation’: ANZ cyber security boss warns against paying ransoms
Big four bank ANZ’s chief information security officer Lynwen Connick says meeting the demands of hackers only makes them bolder.
- by Charlotte Grieve
REA aims to ‘significantly’ speed up mortgage approvals with $15m tech play
REA chief Owen Wilson is betting the company can use its clout in real estate listings to grab a growing share of the mortgage broking market.
- by Clancy Yeates
‘Very disturbing’: Gambling whistleblower ordered to pay legal costs of gaming lobby
A whistleblower who exposed lax anti-money laundering compliance in NSW poker machines faces a legal bill worth hundreds of thousands of dollars after losing a court fight to keep his communications with Independent MP Andrew Wilkie confidential.
- by David Estcourt
Analysis
Fintech
Afterpay’s banking move turbocharges valuation debate
The upcoming launch of Afterpay Money has only widened the divergence between what rival investment banks think the much-hyped stock is worth.
- by Clancy Yeates