Business
Banking & finance
The code-breaking maths whiz who built a $48 billion fortune
Jim Simons was working for the US government cracking codes and ciphers used by the Soviet Union when he had a brainwave.
- by Patrick Oster and Katherine Burton
Latest
‘Capital raising is dead’: Failed fintech Sargon has its finances put under microscope
Liquidators are questioning witnesses in the Federal Court about the finances of failed fintech venture Sargon, over allegations the company potentially traded while insolvent.
- by Sumeyya Ilanbey
Corporate watchdog investigates ANZ over government bond sale
ANZ acknowledged the Australian Securities and Investments Commission was investigating the bank’s execution of a 2023 bond issuance.
- by Millie Muroi
Russia’s richest don’t know how to pass on their billions
For Russia’s elite, passing on family wealth has become more complex than ever.
- by Bloomberg News
Federal Court dismisses disclosure class actions against CBA
The judge found even though Commonwealth Bank was aware of problems before AUSTRAC’s 2017 case, it had not breached continuous disclosure obligations.
- by Clancy Yeates
Investigation
Scams
Fast cars, forgery and a bogus Banksy deal: Australians caught in collapse lose millions
A suspected international scam has dissolved into acrimony and recriminations - all played out on social media.
- by Charlotte Grieve
Opinion
Big four
CBA lowers the curtain on a profit season banks would rather forget
This season was not one that banks will be crowing about – all experienced a fall in profits and the themes were remarkably similar.
- by Elizabeth Knight
CBA boss says rates to stay on hold after another profit drop
The country’s biggest bank has reported its net profit slid by 3 per cent as CEO Matt Comyn said the strong immigration rate was helping the Australian economy remain resilient.
- by Millie Muroi
Updated
Earnings season
ANZ boss warns of widening financial stress as profits slide 7 per cent
ANZ chief executive Shayne Elliott said there were “very real stresses” in the economy, but that much of it was outside the banking system.
- by Millie Muroi
Sexually transmitted debt: How financial services are fighting financial abuse
One woman out of every six experiences economic abuse. Here’s what that can look like and what’s being done about it.
- by Millie Muroi
Opinion
Russia-Ukraine war
Western banks have no excuse for funding Putin’s war machine
Some of the world’s biggest banks are now generating far more money in Russia than they were before the war started. It is shameful.
- by Ben Marlow