Business
Banking & finance
Should Australia have a new taxpayer-owned bank?
A Nationals-led Senate inquiry into bank branch closures has urged the government to investigate the establishment of a bank owned by taxpayers.
- by Clancy Yeates
Latest
‘Ivan the Terrible’: The rise and fall of a notorious Wall Street titan
Ivan Boesky, who rose to fame and fortune before heading to jail, was believed to have been the model for Wall Street’s Gordon Gekko, one of Hollywood’s most memorable villains.
- by Greg Farrell
Banks not doing enough to help struggling borrowers, says ASIC
As the number of customers falling behind on their repayments rises, the watchdog says too many people in hardship are finding it hard to get help.
- by Clancy Yeates
Opinion
Investing
Decline of 138-year-old wealth icon shows bigger isn’t always better
Gobbling up other fund managers wasn’t enough to shield Perpetual from the headwind buffeting stock pickers.
- by Clancy Yeates
‘I still hate the man’: Wall Street’s billionaires can’t resist Trump
When President Donald Trump lost the 2020 election to Joe Biden, some of Wall Street’s biggest names swore they were moving on from him for good. Times have changed.
- by Rob Copeland
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
‘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