Was Scott Morrison right about the powers of ASIC?
After Labor proposed a royal commission into the banking industry, Treasurer Scott Morrison said the Australian Securities and Investments Commission (ASIC) has all the powers of a royal commission and more. Is that right?
Slowing down: the UK’s car industry could suffer from a Brexit.
Anna Gowthorpe/PA Wire
Foreign investment could fall by close to a quarter, harming productivity and incomes if Britain leaves the EU, according to new research.
Fintech hub Stone & Chalk has friends in the right places.
The Australian government's fintech strategy resets the risk dial on how fintech firms are regulated, but the big unknown is how consumers will respond.
ASIC Chairman Greg Medcraft and Commissioner Cathie Armour during a Senate Estimates hearing at Parliament House. Medcraft told the hearing ASIC must be a ‘model litigant’.
ASIC has a high success rate, but its high-profile civil action against ANZ Bank will be a tough battle to win.
HSBC has decided not to walk.
The options for a move to Hong Kong were not as attractive as they might have appeared.
South Australian Premier Jay Weatherill is proposing to levy the GST on banking transactions.
Calls for GST on banking make sense, but working out the ultimate benefit is no easy task.
George Osborne and Jim O'Neil, Commercial Secretary to the Treasury and a former Goldman Sachs investment chief, enjoy a contract signing in Beijing earlier this year.
An often ignored political role devised in 1571 tells you all you need to know about who will benefit as new power plants are built.
The spotlight remains on Chinese President Xi Jinping as the country prepares to release its next five-year plan.
China's transition to a consumer-based economy offers opportunities for private investors, but more financial reform is needed to open them up.
Pending business for a new treasurer is a government response to the Financial System Inquiry led by David Murray.
A bulging in-tray of reviews awaiting response awaits Malcolm Turnbull's choice of treasurer in his new cabinet.
Former trader Tom Hayes has been sentenced to 14 years in prison for manipulating Libor. But what is it and why does it matter?
GE’s shift away from finance may mean more focus on other products, such as jet engines.
Jet engine via www.shutterstock.com
GE's push into finance nearly crippled the company, just as the broader US shift in that direction almost collapsed the global economy.
Cracking down on bad behaviour.
More than just a piece of clever rhetoric, the government is making genuine changes to regulating the financial services industry.
PayPal is far more dominant in online payments in the US than Australia where traditional players have defended the market.
Venture capital money is starting to flow into Australian fintech, but success will largely be based on whether new players can innovate in areas where bank's aren't.
Australia can expect expansion in sectors such as tourism, the health and financial services sectors, banking and securities.
AAP Image/Joel Carrett
Mining, along with agriculture, will continue to be key parts of the Australian economy -- but new growth is expected in the services sector.
The City of London: looming large.
The UK is increasingly reliant on the financial services industry, to the detriment of a healthy economy – and the Coalition has been complicit.
The view from Wall Street.
Big banks via www.shutterstock.com
Looking back at how the US financial industry grew to dominate the economy rather than merely serve it will help us avoid another crisis.
All that glitters is not gold.
Regulating bitcoin and digital currencies is hard, but tackling currency exchanges may be the answer.
Technology is changing finance in ways Jefferson would never have imagined.
Marie Shearin Images/Shutterstock
Digital technology and pervasive access to the internet have reshaped many industries, and banking is no exception: Hampden and Co is the latest in a short but growing list of digital-only banks built…
Storm clouds gathering over the city.
The financial institutions of the City of London and Wall Street are to take part in a series of “war game” exercises aimed at testing their resilience to cyber attack. The announcement comes as prime…
Unlike America, Australia is overbanked.
A key component of the Financial System Inquiry handed to Treasurer Joe Hockey this week was that “the financial system should be subject and responsive to market forces, including competition”. But on…