Business
Banking & finance
Mortgage pain is set to get worse. Here’s how banks are getting ready for it
Banks have signalled they will support customers struggling with higher interest rates – but it won’t be the same as COVID-19 rescue packages.
- by Clancy Yeates and Millie Muroi
Latest
Updated
Mergers & acquisitions
ANZ to challenge ACCC knockback of $4.9b Suncorp deal
ANZ will appeal the ACCC’s rejection of what would have been the biggest transaction in Australian banking since Westpac’s 2008 takeover of St George.
- by Millie Muroi
Opinion
Credit rating
The US just paid a heavy price for Washington’s poison
The historic credit rating downgrade shines a light on how America’s bitterly divided, dysfunctional politics is playing a key role in its deteriorating financial position.
- by Stephen Bartholomeusz
Analysis
Financial planners
Financial advice fix will take time as adviser numbers continue to fall
Moves are afoot to give Australians access to financial advice that is more affordable.
- by John Collett
Household bank deposits drop $7.7b, in first decline in two years
The latest figures from the banking regulator suggest households may at last be feeling the pinch from rising rates as RBA mulls the next move in its fight against inflation.
- by Millie Muroi and Clancy Yeates
Opinion
Cash
My adventures at Starbucks in LA showed why cash is still king
Unless you’re willing to trade in some dignity, a physical card or cash should remain decisively on your packing list.
- by Millie Muroi
Opinion
Interest rates
The world is watching Japan very closely
What the Bank of Japan does matters for all of us. So Friday’s surprise announcement by its governor sent a jolt through markets and left them wondering what is next.
- by Stephen Bartholomeusz
How this executive is readying for a boom in financial crime reporting requirements
The federal government is considering new rules that would require real estate agents, accountants and lawyers to report suspicious transactions. But are these industries ready?
- by Sarah Danckert
Big four banks hike fixed rates as funding costs rise
An increase in funding costs has led to banks raising their fixed rates as they walk away from the ultra-competitive rates offered during the pandemic.
- by Millie Muroi
Macquarie chair Glenn Stevens warns on inflation as profits take a hit
The former RBA governor said he hoped he was wrong about inflation, as Macquarie profits in the June quarter came in “substantially lower” than last year.
- by Millie Muroi
Commonwealth Bank to cut 250 jobs, says Finance Sector Union
The Commonwealth Bank already cut more than 200 jobs two months ago, at a time when its bottom line is benefiting from rising interest rates and low bad debts.
- by Clancy Yeates