Business
Banking & finance
‘What’s going on here?’: ASIC probes fast-growing private debt markets
The head of Australia’s corporate regulator wants more visibility when it comes to the private credit market, where companies go if the banks won’t lend.
- by Millie Muroi
Latest
A $180m deal was meant to rebuild Simon’s fortunes. Six months on, he struggled to scrape together $1m
Wilkie Creek coal mine was meant to revive the fortunes of Simon Raftery’s private credit firm. Instead, he lost colleagues, his house and became entangled in multiple court battles.
- by Anne Hyland
Opinion
Billionaires
$67 million stegosaurus upends the dinosaur hierarchy
A billionaire hedge fund founder has splashed around nine times Sotheby’s presale estimate for a stegosaurus skeleton, making it the most valuable fossil sold at an auction.
- by Chris Bryant
Opinion
Bank fees
Old habits are hard to kick for banks. They’re behaving badly – again
Six years after the royal commission, there are signs of a re-emergence of poor behaviour. At the very least this looks like conduct slippage.
- by Elizabeth Knight
Pokies shut down at three Star casinos amid ‘performance issues’
The Star’s electronic gaming machines and electronic tables will remain switched off until issues with its latest update are resolved.
- by Millie Muroi
Banks to refund $28m to low-income customers kept in high-fee accounts
The corporate watchdog found four banks kept at least two million customers in high-fee accounts, even though they were eligible for cheaper products.
- by Millie Muroi
Exclusive
Big four
The big four bank boss who says there’s more room for risk
ANZ boss Shayne Elliott has been grappling with several challenges at the bank. But one societal issue he has his eye on is taking a disproportionate toll on younger generations.
- by Millie Muroi
ResMed, News Corp bosses top CEO pay tables in 2023
The average realised pay for the chief executive of an ASX100 company in the 2023 financial year was 50 times what an average Australian worker earned.
- by Clancy Yeates
ANZ boss pledges action over inflated bonds allegations
ANZ boss Shayne Elliott says allegations that the bank overstated the value of government bonds it traded by more than $50 billion will be treated with “utmost seriousness”.
- by Millie Muroi
Opinion
Big four
Is it too hard for middle Australia to get loans from risk-averse banks?
There is evidence that banks have become too conservative in lending to some businesses, and it’s hurting the economy.
- by Clancy Yeates
ANZ sanctioned for charging fees to accounts of dead customers
Despite first identifying the issue in early 2022, ANZ took nearly two years to start its customer remediation program, the banking regulator said.
- by Millie Muroi