Australian-owned banks can't explain 'persistently high profits', says Commerce Commission report
newsroom.co.nz/2024/03/21/commerce-commission-delivers-draft-report-on-personal-banking-competition/
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| Last Updated | Mar 21 |
| Total Articles | 2 |
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RBA to ‘increase interest rates three times’: A top forecaster issued a dire interest rate warning, predicting that the Reserve Bank will be forced to hike three ...
news.com.au/finance/economy/interest-rates/leading-forecaster-warren-hogan-predicts-rba-will-hike-cash-rate-to-51-per-cent-this-year/news-story/f6f2f084778953ccaa0538383f67449f
Australia Inflation Reinforces RBA Case to Keep Interest Rates at 12-Year High: Australia’s inflation came in faster than expected in the first three months of ...
bloomberg.com/news/articles/2024-04-24/australian-inflation-reinforces-case-for-higher-for-longer-rates
Yen hits fresh 34-year lows against dollar ahead of BOJ meeting: The yen hit fresh 34-year low versus the dollar and a 16-year low against the euro on Thursday ...
reuters.com/markets/currencies/markets-wary-intervention-yen-struggles-155-level-2024-04-25/
Fintech startup Ramp sees 32% bump in valuation, Mercury expands into consumer banking
techcrunch.com/2024/04/21/techcrunch-fintech-ramp-sees-32-bump-in-valuation-mercury-expands-into-consumer-banking/
Spain's Bankinter takes on Irish banks with deposit move: Bankinter said on Friday it was applying for a full Irish banking licence and entering the deposit ...
reuters.com/business/finance/spains-bankinter-takes-irish-banks-with-deposit-move-2024-04-26/
HSBC says growing Chinese wealth fuels client investments in US: HSBC's wealthy clients in China and Hong Kong are still eager to invest in the U.S. ...
reuters.com/business/finance/hsbc-says-growing-chinese-wealth-fuels-client-investments-us-2024-04-24/
If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...
theage.com.au/politics/federal/if-the-reserve-bank-were-a-football-coach-it-would-have-been-sacked-eons-ago-20240418-p5fkv9.html
Citigroup, Wall Street’s biggest loser, is at last on the up: Jane Fraser’s unexpected success
economist.com/finance-and-economics/2024/04/18/citigroup-wall-streets-biggest-loser-is-at-last-on-the-up
Fintech startup Mercury, which is under regulatory scrutiny, expands into consumer banking
techcrunch.com/2024/04/17/fintech-banking-startup-mercury-is-expanding-into-consumer-banking/
Western Australia's King River Tavern dumps electronic payments to ensure cash remains king
abc.net.au/news/2024-04-17/king-river-tavern-wa-cash-only-no-electronic-payment-costs/103730360
RBA’s Guarded Policy Stance Highlights Fear of Sticky Inflation - Bloomberg: It’s been five months since Australia last raised interest rates and in the interim ...
bloomberg.com/news/articles/2024-04-07/rba-s-guarded-policy-stance-highlights-fear-of-sticky-inflation
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BOJ's Kazuo Ueda Embarks on Second Year as Governor With Next Hike In Focus: Governor Kazuo Ueda marks his first anniversary at the helm of the Bank of ...
bloomberg.com/news/articles/2024-04-08/boj-s-timing-for-next-hike-in-focus-as-ueda-starts-second-year
Goldman Sachs knows what fits it best — plenty of deals: Bank has tried to build a massive wealth and asset management business that brings in steady fees
ft.com/content/1d4fa5c4-7aac-4585-bfc0-269273430935
Yen hits fresh 34-year lows against dollar ahead of BOJ meeting: The yen hit fresh 34-year low versus the dollar and a 16-year low against the euro on Thursday ...
reuters.com/markets/currencies/markets-wary-intervention-yen-struggles-155-level-2024-04-25/
Inflation rises more than expected, with prices increasing by 3.6 per cent in last year
abc.net.au/news/2024-04-24/inflation-consumer-price-index-march-quarter-interest-rates-hecs/103757332
The pandemic pumped up productivity. Then the bubble burst: Here’s how we’re tracking now, and why putting in more work isn’t the answer.
smh.com.au/business/the-economy/the-pandemic-pumped-up-productivity-then-the-bubble-burst-20240417-p5fkk6.html
Dollar suffers PMI hangover, Aussie jumps on inflation surprise: The dollar nursed its wounds on Wednesday following big tumbles against the euro and sterling ...
reuters.com/markets/currencies/dollar-shaky-after-euro-rebound-yen-mired-34-year-low-2024-04-24/
The unemployment rate has risen slightly to 3.8 per cent: The unemployment rate increased slightly to 3.8 per cent in March, after employment fell by 7 ...
abc.net.au/news/2024-04-18/unemployment-rate-march-2024-3-8-per-cent/103736778
Nightclub‘s ‘ridiculous’ sign slammed: A Melbourne CBD nightclub has been chastised over its “ridiculous” EFTPOS surcharge rate which more than doubles most ...
news.com.au/finance/business/retail/popular-melbourne-nightclub-brown-alley-criticised-over-alleged-five-per-cent-surcharge-on-all-transactions/news-story/99f710e21e9f860a9015d814f8385b1b
Does Australia’s higher-than-forecast 3.6% inflation dash hopes for an interest rate cut?
theguardian.com/australia-news/2024/apr/25/does-australias-higher-than-forecast-36-inflation-dash-hopes-for-an-interest-rate-cut
Woolworths, Coles and Aldi accused of using promotional labels that confuse and may mislead supermarket shoppers
abc.net.au/news/2024-04-23/woolworths-coles-aldi-labels-may-confuse-consumers-choice/103754822
Citigroup CEO faces growth challenge as overhaul rattles employees: Citigroup investors have rewarded CEO Jane Fraser with a share price boost after Fraser ...
reuters.com/markets/us/citigroup-ceo-faces-growth-challenge-overhaul-rattles-employees-2024-04-09/
Australia News Today: Wall Street, Superannuation Funds, RBNZ, RBA: Happy Monday, everyone, it’s Ainslie here in a thankfully sunny Sydney with what you need to ...
bloomberg.com/news/newsletters/2024-04-07/australia-news-today-wall-street-superannuation-funds-rbnz-rba
Asking one question could save you thousands on mortgage repayments every year, experts claim
9news.com.au/national/sherlok-research-australian-homeowners-could-save-thousands-on-their-home-loan-by-asking/c62db21e-c1a3-4f70-81ce-4a8e4054f4f5
Local Facebook profits soar amid bargaining code stand-off: The social media giant increased its spending estimates for the year, once again raising questions ...
smh.com.au/business/companies/meta-predicts-higher-spending-weaker-sales-as-it-pushes-into-ai-20240425-p5fmf6.html
Quick Glance: Meta Quarterly Results: Revenue Expectations Lowered, Stock Fell
- Meta's quarterly results exceeded expectations, but the revenue forecast for the next quarter was lowered.
- Despite successful ad business and increasing user numbers, Meta's stock experienced a drop of over 10 percent.
- Analysts caution about Meta's reduced revenue expectations for the second quarter, leading to investor skepticism.
- Zuckerberg plans to significantly increase investments in AI models in the coming years to enhance Meta's leading position in the artificial intelligence domain.
Australian consumer confidence dips amid high inflation and interest rates : Consumer confidence in Australia has taken a hit in April, indicating the growing ...
wionews.com/business-economy/australian-consumer-confidence-dips-amid-high-inflation-and-interest-rates-709314
Organic or grass-fed: What is the difference between meat labelling?: Farmers are calling for more transparency on red meat labelling, to reduce confusion and to ...
9news.com.au/national/meat-labels-do-you-know-the-difference/2b771969-aeb1-48b4-b78d-204a93083185
Warning over fake delivery emails targeting Australians:
9news.com.au/national/scams-in-australia-hackers-online-email-texts-targeting-innocent-people-in-pictures/eaf2016c-b71f-42d5-ab20-c5ce51880b04
ACCC calls for stronger protection laws as more fires are being sparked by lithium-ion batteries
abc.net.au/news/2024-04-24/lithium-ion-battery-laws-in-queensland-risk-fires/103753436
ACCC takes GLAD-bag manufacturer to court over 'ocean plastic' claims: Australia's competition watchdog has taken the manufacturer of GLAD bags to court ...
9news.com.au/national/australian-competition-and-consumer-commission-initiates-federal-court-proceedings-against-glad-bag-manufacturer-clorox-australia-over-ocean-plastic-claims/f9ffd838-9d71-4570-9e6b-94ed387fbc02
SA media companies turn to access to information law to hold tech giants to account
dailymaverick.co.za/article/2024-04-22-sa-media-companies-turn-to-access-to-information-law-to-hold-tech-giants-to-account/
‘Prices dropped’: supermarket discount labels are confusing shoppers, Choice tells ACCC inquiry
theguardian.com/australia-news/2024/apr/23/choice-accc-supermarkets-confusing-discount-labels-woolworths-coles-aldi-senate-inquiry
SCHY: How The Fed's Policies Make International Dividend Stocks An Attractive Bet
seekingalpha.com/article/4685095-schy-how-fed-policies-make-international-dividend-stocks-an-attractive-bet
Paid articlePaid Consumer watchdog refuses to certify green labelling scheme: The ACCC has not certified a key federal government program used by more than 500 companies to ...
theage.com.au/business/the-economy/consumer-watchdog-refuses-to-certify-green-labelling-scheme-20240422-p5flq3.html
AIB makes three senior appointments to retail banking staff: Geraldine Casey, the managing director of retail banking at AIB, said the appointees will bring a ...
businesspost.ie/news/aib-makes-three-senior-appointments-to-retail-banking-staff/
Paid articlePaid Uber is winning the rideshare war, but our addiction to the app may backfire: Despite years of controversy and frustration, Australians can’t seem to get enough ...
theage.com.au/national/uber-is-winning-the-rideshare-war-but-our-addiction-to-the-app-may-backfire-20240418-p5fkqv.html
Recapitalisation: How Access Bank will meet CBN’s directive – Aig-Imoukhuede: The Central Bank of Nigeria (CBN), on 29 March, directed commercial banks in ...
premiumtimesng.com/business/687803-recapitalisation-how-access-bank-will-meet-cbns-directive-aig-imoukhuede.html
Australia's cash availability crisis creating an NZ monopoly: Hit by low demand for physical money, Australian cash-in-transit giant Armaguard is selling ...
newsroom.co.nz/2024/04/17/australias-cash-availability-crisis-is-creating-a-nz-monopoly/
David Ostrove, ex-Schechter School of Long Island CFO, sentenced to maximum for stealing $8.4M in school funds
newsday.com/long-island/crime/schechter-school-of-long-island-david-ostrove-bmbluic9
Bad news if your home has one of these: One of Australia’s largest smoke alarm companies left hundreds of thousands of documents containing sensitive customer ...
news.com.au/technology/online/security/homeowners-urged-to-be-vigilant-for-scams-after-shocking-data-breach-at-major-smoke-alarm-provider/news-story/d78807173d75731099a60b23206cde85
Couple loses $800k to rising scam method: Australians have been warned to triple check their invoices amid a surge in payment redirection scams ...
news.com.au/technology/online/hacking/accc-warns-of-surge-in-payment-redirection-scams-as-aussies-lose-162-million/news-story/4ea72d928ac8bca0a7132bdb43850272
Australia's cash availability crisis creating an NZ monopoly: Hit by low demand for physical money, Australian cash-in-transit giant Armaguard is selling ...
newsroom.co.nz/2024/04/17/australias-cash-availability-crisis-is-creating-a-nz-monopoly/
Global Central Banks Constrained by Steady U.S. Interest Rates: Jerome Powell, Chairman of the U.S. Federal Reserve, recently announced that U.S ...
riotimesonline.com/global-central-banks-constrained-by-steady-u-s-interest-rates/
TD Bank names new head of U.S. consumer banking: Matthew Boss takes on role at a pivotal moment as bank seeks to expand in its largest growth market
theglobeandmail.com/business/article-td-bank-names-new-head-of-us-consumer-banking/
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Nordea glitch reveals others' accounts: The bank said on Tuesday that some of its customers may have been able to view accounts belonging to other Nordea private ...
yle.fi/a/74-20083949
Citi Q1 results: Profit drops as costs rise on employee severance: Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31 ...
business-standard.com/world-news/citi-q1-results-profit-drops-as-costs-rise-on-employee-severance-124041200800_1.html
‘Fail’: Aussie destination is being ‘boycotted’: Hamilton Island is one of Australia’s most popular tourist spots having attracted the likes of celebrities ...
news.com.au/travel/travel-updates/travel-stories/aussie-hotspot-blasted-for-cashless-move/news-story/a2aa37cd6aed6f08b5c085dfab03185a
Goldman Sachs Is Regaining Its Mojo: Goldman Sachs stock rose 4% in premarket trading after its earnings report topped analysts’ expectations.
on.barrons.com/43WHNsR
Whistleblower lifts the lid on Coles, Woolworths price gouging tactics: The bosses of Australia's biggest supermarkets are bound for Canberra set to appear ...
9news.com.au/national/whistleblower-lifts-the-lid-on-coles-woolworths-price-gouging-tactics/ead6b45f-4d20-44e9-8ae7-f0b3d85328f5
Ranking Arizona: Top 10 banks for 2024: Here are the Top 10 banks in Arizona, based on voting for the 2024 edition of Ranking Arizona ...
azbigmedia.com/business/ranking-arizona-top-10-banks-for-2024/
Big W vacuum recalled over fire hazard fears: The vacuum was sold at online and in-person Big W stores between March 15 2022 and October 11 2023.
9news.com.au/national/big-w-vacuum-recalled-over-fire-hazard-fears/06abae94-3e4b-4321-8ad6-b42332d334f4
Australian victim of fraud syndicate advertising on Facebook on a mission to stop others being burned
abc.net.au/news/2024-04-15/australians-falling-for-facebook-fake-ads-online-trading-scams/103640678
HSBC to book $1B loss as it sells Argentina division: Global banking giant HSBC has agreed on the sale of its business in Argentina and is booking a $1 billion ...
dailysabah.com/business/economy/hsbc-to-book-1b-loss-as-it-sells-argentina-division
HSBC sells Argentina division to Banco Galicia for US$550 million: HSBC will sell its Argentina operation to Grupo Financiero Galicia for US$550 million ...
batimes.com.ar/news/economy/hsbc-sells-argentina-division-to-banco-galicia-for-us550-million.phtml
Citigroup marks $483m charge for reorganisation : Net income at the US bank, which has a significant presence in Ireland, fell to $3.4bn in the three months to ...
irishexaminer.com/business/companies/arid-41373046.html
Suppliers swamped with deals as supermarket grace period ends: One supplier told Newsroom it was handling 'dozens and dozens' of varying agreements in ...
newsroom.co.nz/2024/04/11/suppliers-swamped-with-deals-as-supermarket-grace-period-ends/
Fears new merger laws ‘could be costly’ for smaller firms: The proposed reforms will make it harder for deals to go ahead in markets dominated by a handful of ...
theage.com.au/business/companies/concern-new-merger-laws-could-be-costly-reduce-transparency-20240410-p5fip2.html
Political rhetoric on supermarkets went further than mandatory code: The first of an array of inquiries aimed at promoting competition has arrived and raised ...
smh.com.au/politics/federal/political-rhetoric-on-supermarkets-went-further-than-mandatory-code-20240407-p5fhyk.html
Quick Glance: Report Recommends Stricter Rules for Supermarkets and Higher Penalties for Violations
- Recommendation to introduce a mandatory code of conduct for supermarkets
- Companies should face financial penalties of up to A$10 million or 10% of revenue for non-compliance
- No endorsement of granting regulatory powers to break up large supermarket chains
- Proposal for tougher rules and higher penalties for supermarkets in report
Dubai Police arrest 494 individuals involved in phone fraud targeting bank customers
gulftoday.ae/news/2024/04/08/dubai-police-arrests-494-individuals-involved-in-phone-fraud-targeting-bank-customers
Quick Glance: Hundreds Arrested in Dubai for Deceptive Phone Scam
- Dubai Police have apprehended a significant number of suspects involved in numerous fraudulent schemes aimed at deceiving bank customers and accessing their financial resources.
- The fraudsters employed various tactics, including phone calls, emails, and social media links, to defraud their victims and infiltrate their bank accounts.
- During a recent meeting, Brigadier Harib Al Shamsi, the interim director of the Criminal Investigation Department, urged residents to exercise utmost caution and refrain from disclosing sensitive bank information to unknown callers.
- If residents fall victim to such fraudulent schemes, it is strongly advised to promptly report the incident to the authorities to prevent further harm.
Costly childcare’s a slippery slope. So why haven’t we learnt?: The faults in Australia’s childcare model have been obvious for years. It’s time for a sweeping ...
smh.com.au/business/the-economy/costly-childcare-s-a-slippery-slope-so-why-haven-t-we-learnt-20240409-p5fify.html
Australia tightens ‘hit and miss’ merger rules amid fears of reduced competition: Treasurer Jim Chalmers warns economy is not ‘competitive enough as it stands’
ft.com/content/1656c220-198f-46a9-854b-0e298d276a19
Australia Grocery Giants May Face Fines Under Code to Help Cost of Living: Australia’s supermarket giants could face millions of dollars in fines under a ...
bloomberg.com/news/articles/2024-04-08/aussie-grocery-giants-may-face-millions-in-fines-under-new-code
Glynn’s Take: RBA’s Caution Continues to Pay off as Fed Script Is Rewritten: The Reserve Bank of Australia’s caution about moving the policy needle too close to ...
wsj.com/economy/central-banking/glynns-take-rbas-caution-continues-to-pay-off-as-fed-script-is-rewritten-da159a19
Supermarket prices under pressure in new grocery code: Treasurer Jim Chalmers said the government would reform competition rules for supermarkets to drive down ...
theage.com.au/politics/federal/supermarket-prices-under-pressure-in-new-grocery-code-20240408-p5fi39.html
Australia has a high and rising level of market dominance by big firms and it's been costing us all
abc.net.au/news/2024-04-10/chalmers-accc-merger-laws-verrender-analysis/103691554
RBNZ Seen Pushing Back Against Bets on Early Interest-Rate Cuts: New Zealand’s central bank may this week push back against investor bets that interest-rate cuts ...
bloomberg.com/news/articles/2024-04-07/rbnz-seen-pushing-back-against-bets-on-early-interest-rate-cuts
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Media professional 2023/24: Bankers also use social media: Volker Raker from LzO talks to OM-Online about his job and what it has to do with the Media ...
om-online.de/om/medien-profi-2023-24-auch-banker-nutzen-soziale-medien-464965
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Sick of extra fees online? It's drip pricing, and Canadian shoppers are fighting back
timescolonist.com/local-news/sick-of-extra-fees-online-its-drip-pricing-and-canadian-shoppers-are-fighting-back-8566353
Australia news LIVE: Supermarkets face huge fines after review; AUKUS could expand to include Japan
smh.com.au/national/australia-news-live-supermarkets-face-huge-fines-after-review-aukus-could-expand-to-include-japan-20240408-p5fi22.html
RBA Sees Small Firms as Key to Australia Productivity Turnaround: Australia’s productivity performance has been lagging for a “considerable time” but signs are ...
bloomberg.com/news/articles/2024-04-03/rba-sees-small-firms-as-key-to-australia-productivity-turnaround
Paid articlePaid Exclusive: Bank of Korea considering forward guidance overhaul, sources say: The Bank of Korea is considering overhauling how it provides guidance on the likely ...
reuters.com/markets/asia/bank-korea-considering-forward-guidance-overhaul-sources-say-2024-04-04/
Australia’s Central Bank Says Risks Around Economy a Little More Balanced: The Reserve Bank of Australia now feels that risks around the outlook for the economy ...
wsj.com/economy/central-banking/australias-central-bank-says-risks-around-economy-a-little-more-balanced-7eb63afc
Glynn’s Take: RBA’s Only Certainty Is That Nothing Is Certain: There are two important reasons why the Reserve Bank of Australia has yet to totally and ...
on.wsj.com/43MM1mS
Australia News Today: RBA's Kent, Rate Hikes Unlikely, Aukus Sub Delays: Good morning from Sydney. It's Harry here with the news you need to start your ...
bloomberg.com/news/newsletters/2024-04-02/australia-news-today-rba-s-kent-rate-hikes-unlikely-aukus-sub-delays
I hope the Easter bunny was good to you, because chances are the Reserve Bank won’t be
theage.com.au/business/the-economy/dreaming-of-an-early-interest-rate-cut-dream-on-20240401-p5fgjf.html
Aussies flood banks in cash protest: Fed up Aussies flocked to banks and ATMs on Tuesday in a major protest against the country’s move towards a cashless society ...
news.com.au/finance/money/costs/massive-queues-aussies-flood-banks-in-cash-protest/news-story/a3e8940489c9c22fcb99d447460ec7d2
Strong Australian Services Sector Growth A Headache For RBA: Activity in Australia’s services sector remains upbeat, something that is sure to alarm the Reserve ...
wsj.com/economy/strong-australian-services-sector-growth-a-headache-for-rba-717b50d3
Woman ghosted after lending mate $5k: Welcome to Sisters In Law, news.com.au’s weekly column solving all of your legal problems. This week ...
news.com.au/finance/my-friend-borrowed-money-now-she-has-ghosted-me/news-story/25ec5d1b9034c02b8e61498d61c3c8b0
Former RBA boss warns Australian living standards in firing line: Philip Lowe says the current tax system is hurting Australia’s productivity ...
theage.com.au/business/the-economy/former-rba-boss-warns-australian-living-standards-in-firing-line-20240404-p5fhgo.html
Zenith Bank named Nigeria’s best bank for the 4th year: The Bank emerged as the best bank in Nigeria in the Global Finance Best Banks Awards 2024
premiumtimesng.com/promoted/682602-zenith-bank-named-nigerias-best-bank-for-the-4th-year.html
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