Financial Services

Shareholders to vote on CBA bonus

by AAP
Commonwealth Bank shareholders will decide on boss Ian Narev's $4.7m bonus.

'Bitcoin' inquiry set for March

Senate committee will report on regulation for digital currencies by March 2015.

The hunt for yield takes a risky turn

The types of high-risk debt securities that triggered the GFC are on the rise again, and the global fallout could be catastrophic.

Pimco outflows worst on record

Impact of Bill Gross departure high as investors pull $US23.5bn from Total Return fund in September.

IMF warns on shadow banking

Fund says there is value in shadow banking sector, but risks need to be carefully managed.

Major banks in last-minute Murray plea

Big four banks step up their lobbying against more onerous capital rules.

ANZ gets Myanmar licence

by AAP
Bank expects to begin local operations in June 2015 after preliminary approval granted.

Westpac to cut more than 230 jobs

by AAP
Lender's plans to close customer contact centres in WA, Qld expected to see jobs shed.

CBA on top in deposit battle

NAB claims least amount of profit from retail deposits out of the big four, CBA leads way.

UBS pays €1.1bn bail in France

by AFP
Bail relates to claims the Swiss bank helped rich French clients hide money in Switzerland.

SAI Global frustrated buy sale process

Advisers working on the SAI Global auction are under pressure to strike a deal by the end of the week.

AMP warns on super shortfall

by AAP
Meller says Australians will end up poorer and paying more tax if superannuation savings aren't boosted.

Suncorp gets support for £250m debt

The senior unsecured debt deal is the first sterling transaction for the bank since 2009.

Full steam ahead for ingogo

Mobile payments start-up ingogo secures more than $9 million in funding and attracts several high-profile investors including one with links to Alibaba.

AMP boss rejects FoFA standards

Meller dismisses govt-imposed guidelines for financial planners, says banks should prove they can self-regulate.

Beware of banks bearing hybrids

Hopelessly conflicted banks are shoving term deposit holders into hybrids as a type of capital ratio insurance, despite the hidden dangers for investors.

Pimco takes hit on Gross exit

Analysts say fund outflows could top $100bn in the wake of Bill Gross' departure.

PayPal splits from eBay

by AFP
Payments group to become separate, publicly traded company in 2015.

Hong Kong banks hit by protests

Banks shut branches, suspend services as pro-democracy protests grip the city.

Lloyds dismisses eight staff over rate rigging

Bank says no action against staff who left voluntarily, claws back $US4.9 million in bonuses.