Business
Banking & finance
Wayne Swan defends controversial CFMEU appointments to Cbus board
The super giant’s chairman was hauled before a Senate committee, where he was grilled over the governance failings engulfing the embattled fund.
- by Sumeyya Ilanbey
Latest
‘Why do you make it difficult?’: Big super in big trouble over delayed claims
Three decades after the Keating government set up the superannuation system, a large cohort of Australians is now seeking to claim their entitlements – and they’re not impressed.
- by Sumeyya Ilanbey
China’s richest are selling their trophy homes at bargain prices
One by one, tycoons who built their wealth on China’s economic rise have been giving up their trophy homes in Hong Kong.
- by Alexandra Stevenson
Cbus board appointments prompts tough talk from APRA
The regulator has raised doubts over whether Cbus has completed the necessary processes under its licence conditions, after the fund said three CFMEU-linked directors had passed a fit and proper persons test and would be appointed to its board.
- by Sumeyya Ilanbey
ASIC sues NAB for ‘failing’ customers facing financial hardship
The corporate regulator cited submissions from people who had left violent relationships or who had lost work during the pandemic.
- by Sumeyya Ilanbey
Can ANZ’s $2.5 billion tech bet close the gap on rivals?
Maile Carnegie is trying to transform the bank’s technology, and oversee the movement of millions of customers to a new platform. It’s a mammoth undertaking.
- by Sumeyya Ilanbey
Opinion
Superannuation
Cbus scandal revives ghosts of banking royal commission
The allegations against one of the country’s biggest superannuation funds is politically explosive and hugely embarrassing for one of the so-called gamekeepers of governance.
- by Elizabeth Knight
Super giant apologises for ‘unacceptable’ insurance delays
Appearing before a Senate inquiry on Thursday morning, Cbus chief executive Kristian Fok was grilled on a litany of scandals engulfing the embattled fund.
- by Sumeyya Ilanbey
Super funds warned over delays in assessing life insurance claims
ASIC believes the scale of alleged failings at $94-billion super fund Cbus are a broader industry issue, and it’s flagged there could be more “enforcement action to follow”.
- by Sumeyya Ilanbey and Clancy Yeates
Opinion
Interest rates
Emptying the cookie jar to pay interest: Borrowers are desperate for rates to fall
There are plenty of white-knuckled borrowers waiting for February in hopes the Reserve Bank will begin down the path of lowering rates. Can they make it that far?
- by Elizabeth Knight
Updated
Earnings season
Trump’s tariff plan to fuel global inflation, could keep rates high: CBA boss
Commonwealth Bank chief executive Matt Comyn said Australia’s economy is being weighed down by elevated interest rates and sticky inflation.
- by Sumeyya Ilanbey