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Analysis and Comment (10)

The ANZ bank fee class action has opened the door to target other companies charging excessive fees. Shutterstock.com

Feeling ripped off? ANZ class action opens debate on gouging

A bank charges customers A$35 every time customers fail to make the monthly payment on their credit card by the due date. An airline charges $10 or more for printing boarding passes if passengers forget…
Commonwealth Bank chief Ian Narev announces a record full-year profit of A$7.8 billion, ahead of this week’s $2.1 billion quarterly result. Paul Miller/AAP

Bank profits grow, and so does the criticism. Who’s right?

Like most companies, banks report their profits twice a year. Each time the majors report we see headlines about the size of the profits and implicit or explicit criticism of the amount – this time about…
ANZ chief Mike Smith was recruited to help ANZ succeed in Asia. Julian Smith/AAP

Australian banks in Asia a high stakes gamble

ANZ Bank has delivered another record profit, promising shareholders a bigger dividend than expected on the back of cash earnings of A$6.49 billion. But despite the bank’s continued Australian and international…
Anti-coal activists have targeted Whitehaven before over its development in Maules Creek; but Jonathan Moylan’s recent actions could be interpreted as fraud, not simply civil disobedience.

Public nuisance - or fraud? Whitehaven hoax puts market creditability at risk

It has has been suggested a hoax by anti-coal activist Jonathan Moylan wiping million of dollars from Whitehaven Coal’s share price was an act of “civil disobedience”, akin to chaining a person to a tree…
Old methods of protest are looking distinctly shabby in the face of climate change. Now activists are making it harder for miners to do business. Paul Miller/AAP

ANZ imposter takes up new climate tactic

Yesterday an anti-coal activist, Jonathan Moylan issued a media release purportedly from the ANZ Bank withdrawing a $1.2 billion loan to Whitehaven Coal, which is developing a project in Maules Creek in…
Rampant litigation in the financial sector will only create more risk for Australia’s banks. AAP

Too many lawsuits might break the banking sector

This week, the National Australia Bank published its 2012 annual report, confirming that its net profit for the year had fallen by about 21%, mainly from higher bad and doubtful debt charges. Buried deep…
The Asian Century White Paper offers a lot of grand rhetoric, but little in the way of serious policy ideas. AAP

Asian Century White Paper is big on rhetoric, small on ideas

The Australia in the Asian Century White Paper has vaulting ambitions equally matched by a limited set of policy ideas for institutional reform. Unlike Ross Garnaut’s 1989 report, Australia and the Northeast…
Three of Australia’s Big Four banks have opted to offshore part of their financial operations to Asia. AAP

More offshoring of Australian jobs? Can you bank on it?

Reports of more offshoring of jobs from Australia to other countries are, seemingly, a daily occurrence. Such reports include, for example, the manufacturing of cars and their components and aspects of…