Recent media reports might have you thinking that banks will move out of Scotland if there is a Yes vote in the independence referendum. But even a cursory glance at what these banks have actually said…
The latest survey on the basic understanding of financial terms like “loan”, “interest rate” and “budget” makes for shocking reading. The Money Advice Service surveyed 3,000 adults and found that 32% did…
Bank downgrades have sparked anger in South Africa.
Nic Bothma/EPA
It’s an unnerving time for Africa’s banking industry. On August 19, the ratings agency Moody’s announced it had downgraded by a notch the risk rating of South Africa’s four biggest banks – FirstRand, Standard…
The explosive issue of banker bonuses refuses to go away – and not just because of the Bank of England’s controversial new “clawback” measures, which will defer bonuses for three to five years. President…
Australian banks are the envy of their global counterparts.
David Crosling/AAP
The people who manage pensions and investments are locked in a constant battle to win our custom, often dazzling us with examples of how well they have beaten the market in the hope that this success will…
British regulators have finally made some progress in efforts to keep a lid on the payday lending sector. A cap on costs will reduce the impact on those forced to borrow under the industry’s tough terms…
The 2007-2008 banking crash ushered in an era of austerity and pay freezes, but bank executives have continued to enjoy disproportionate rewards even though their institutions have been bailed out by taxpayers…
The news was taken badly by some bankers.
thehutch
Imagine having to wait seven years before you could be sure that what you were properly paid for your job. If it sounds like a bad deal then maybe it’s time to spare some empathy for bankers at UK financial…
Laid low. Taking the fun out of funding.
Jesus Solana
The EU has been busy promoting its business interests abroad in an attempt to boost exports, underpin a faltering economic recovery and raise the competitiveness of European member states. Trouble is…
Conflicts abound in Australia’s financial system.
Dan Peled/AAP
At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
Hold onto your hats: fresh trouble in Portugal.
EPA
Banco Espírito Santo, the Portuguese bank, has become the top concern for international investors in recent days. The Portuguese stock exchange has taken a big hit and other European equity markets have…
Could Bitcoin turn banking on its head?
Elentari86/Flickr
Australia’s big four banks are the most profitable in the world. Last year they made A$27 billion in profit, up 9.5% on the previous year. Tech leaders in Australia say the financial industry is ripe for…
Revelations of secret Trade in Services Agreement talks have brought them from the shadows.
Image sourced from www.shutterstock.com
Jane Kelsey, University of Auckland, Waipapa Taumata Rau
Wikileaks has shone the light yet again on behind-the-scenes manoeuvres by a core of governments seeking to advance a free market agenda in the guise of “trade”. The leaked text on financial services is…
Further global deregulation of banking might present future opportunities.
Image sourced from www.shutterstock.com
Revelations by whistleblower organisation Wikileaks of secret global negotiations to further deregulate global financial services, has led to speculation that such pact could signal the end of Australia’s…
I sent a friend request so I’m pretty sure this is OK.
mattiasjajaja
Facebook has been on a shopping spree in 2014. It’s looking to buy a drone company so it can bring the internet and Facebook to the remaining 6 billion people on Earth who aren’t already using it, and…
An increasing number of consumers choose a broker over going direct to a bank for their home loan.
Dan Peled/AAP
Over 40% of mortgages in Australia are sold by mortgage brokers, not by their manufacturers - an issue that has the CEO of Australia’s fifth largest bank, Suncorp, arguing the sector is skewed towards…
The Reserve Bank’s mandate is much broader than that of prudential regulator, APRA.
ArchivesACT/Flickr
One of the major recommendations made by the 1997 Wallis Inquiry into banking was to establish a prudential regulator for the financial sector separate from the Reserve Bank of Australia. The new regulator…
Just when members of the Co-op thought the group’s increasingly farcical situation was coming to an end, it was revealed that the bank had overlooked £400m in fines for mis-selling payment protection insurance…
Banks are asking former CBA chief David Murray, now heading the Financial Systems Inquiry, to consider tax breaks on interest income.
AAP/Dean Lewins
Australia’s big banks want the government to give their customers tax breaks on interest income, having told the Financial Systems Inquiry it would encourage more savings. In turn, the banks will have…