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APRA proposes massive lending shake-up to jump-start productivity
While the prudential regulator will make it less costly to lend to some types of borrowers, it is also tightening liquidity rules and warning of global risks.
Financial crimes officials using CBA data to ‘chase down’ loan fraud
The country’s largest bank raised the alarm about $1 billion of suspicious mortgages with regulators, with worries that fraudulent borrowings are widespread.
Households could withstand two more rate increases, says Westpac CEO
A day before the RBA is expected to announce a rate rise, Anthony Miller is optimistic customers can take it – and one more – in their stride.
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CBA, Westpac chiefs warn society must be brought along for the AI ride
Matt Comyn and Anthony Miller know their institutions stand to benefit hugely from effective AI deployment, but are worried about the sector’s “PR problem”.
RBA interchange fee decision will increase banking costs: CBA exec
Banks are watching the RBA’s upcoming decision on interchange fees closely; the Finance Sector Union says AI agents have workers concerned about their futures. Follow live updates.
The big four are minting it right now, but 2 big threats are building
The surprise burst in credit growth means it’s a great time to be a big bank. Behind the scenes, however, they see big shifts that could be cause for worry.
Mining’s seat at the table
The Mining Summit brings together the sector’s top leaders to confront: how does Australia stay competitive, and what defines the next era of mining prosperity?
‘Benign’ market reaction to Iran conflict threatens to turn violent
Goldman Sachs chief executive David Solomon said he was surprised about a muted reaction to the wave of strikes, but investor fears have started to grow.
Watch: David Solomon on Iran, the US economy and AI disruption
Goldman Sachs CEO and chair David Solomon was in conversation with editor-in-chief James Chessell at the Financial Review’s Business Summit. Here are the highlights.
‘We will go to town’: Joyce warns Libs on One Nation preferences
The Nationals-turned-One Nation MP said conservative politics would be in a “malaise forever” if the Coalition did not come to an arrangement with his party.
Goldman CEO David Solomon’s $143b AI question shows what’s coming
The investment banking giant’s headcount may not actually change as it uses AI to drive its growth. But the maths behind that has ramifications for the economy.
Chalmers’ new tax on pension fund investment giants worries Canada
Canadian Finance Minister Francois-Philippe Champagne said he would propose changes to how foreign investors would be taxed on energy and infrastructure.
Dorrell flags Stonepeak IPO, but not until it’s a financial giant
The former Macquarie banker who now runs a $100 billion asset management empire says investment firms need to be “incredibly deep and incredibly broad” to list.
Business, government unprepared for AI’s job-killing ‘freight train’
Influential investors say that even a wall of money for data centre development will not be enough to ward off employment upheaval from artificial intelligence.
La Trobe CEO talks up ASX float despite credit fund scrutiny
Chris Andrews said interest was “dual track” from public and private investors, but said the outcome will be determined by its major shareholder Brookfield.
Fix tax and cut NDIS, CEOs tell Chalmers
Business leaders call on the government to implement ambitious tax reform and pro-growth policies while cutting spending to set up the nation’s prosperity.
Macquarie tells CBA’s Comyn to ‘bring it on’ amid intense mortgage war
The financial services giant’s chief executive, Shemara Wikramanayake, issued a tacit rebuke of concerns that it was getting an easier run from regulators.
March rate rise on the cards after Bullock’s reality check
The RBA governor made a rare departure from her usual script at The Australian Financial Review Business Summit that’s prompted a rethink on rates.
Big business wants Chalmers to do more than tinker with the budget
The people who run Australia’s largest companies and employers cannot be clearer. The economy risks falling behind in a high-risk, fast-changing world.
We need to adapt to a world where disruption is no longer episodic
In a more competitive and fragmented global environment, success will be determined by who competes best on the fundamentals: certainty, speed and capability.
One of the world’s debt champions is calling time on private credit
Oaktree’s Howard Marks says returns are ordinary, and lending standards are sliding as the fear of investing is replaced by the fear of missing out.
Watch: Top 5 moments from the Financial Review Business Summit
Watch the video highlights from day one of the summit including Reserve Bank governor Michele Bullock, Commonwealth Bank CEO Matt Comyn and BHP chair Ross McEwan.
RBA’s Bullock warns of Iran risk as inflation tops nation’s worries
The Reserve Bank governor said new research conducted for the central bank showed rising costs were the biggest concern for Australians, above job security.
