The Australian | 15 Sep 2017 | News
It was 9.39am and 10C outside when a huge electronic document slid out through the encrypted walls of the secretive intelligence organisation Austrac and into the Federal Court of Australia. It landed with a loud crash.
The document would not only stun the corporate world, it also would up-end the Commonwealth Bank of Australia.
SMH | 08 Sep 2017 | News
A former chief of the prudential regulator and a former boss of the consumer watchdog have been appointed to the APRA panel examining the culture of the embattled Commonwealth Bank.
The Australian Prudential Regulation Authority (APRA) announced on Friday that former APRA boss John Laker, former head of the Australian Competition and Consumer Commission Graeme Samuel and company director Jillian Broadbent would conduct the review of CBA it announced in late August.
SMH | 05 Sep 2017 | News
Employers, particularly franchise chains, face stiff new penalties and a beefed up watchdog after reforms to protect vulnerable workers passed the Senate on Monday night.
The bill was introduced in response to Fairfax Media's exposure of rampant underpayment and exploitation of vulnerable workers stretching back to a joint Fairfax Media / Four Corners investigation of 7-Eleven as well as subsequent scandals involving prominent companies such as Caltex and Domino's.
AFR | 04 Sep 2017 | News
The Trump administration said it would unleash a "massive military response" if North Korea threatens its territory or foreign allies and warned it might cut off China from the US economy in response to Pyongyang's nuclear weapon test on Sunday.
As the nuclear crisis reached its most treacherous flashpoint so far, President Donald Trump opened up the possibility of imposing unprecedented economic sanctions against North Korean trade partners and left open the option of war.
SMH | 28 Aug 2017 | News
The banking regulator will launch an unprecedented public inquiry into the Commonwealth Bank, after a run of scandals that have undermined public trust in the country's biggest bank.
Australian Prudential Regulation Authority chairman Wayne Byres said the inquiry followed damage to the bank's reputation and public standing by a range of issues, most recently allegations it breache
SMH | 23 Aug 2017 | News
The Commonwealth Bank faces a potential investor class action over its disclosure of more than 53,000 alleged breaches of anti-money laundering laws, following a sharp fall in its share price when the scandal emerged earlier this month.
Plaintiff law firm Maurice Blackburn, backed by listed litigation funder IMF Bentham, said on Wednesday it would investigate a potential class action on behalf of CBA shareholders, citing the hit to the bank's share price.
SMH | 16 Aug 2017 | News
When a company announces a $300 million share buyback, misses key financial targets and reveals its chief executive is selling shares, it's a sign the party is over.
And so it was for pizza giant Domino's, which suffered a huge share price rout within minutes of the market opening on Tuesday.
Charlotte Lemmon | 16 Aug 2017 | News
Rising house prices are fuelling millennials’ concerns over never breaking into the housing market.
However, mortgage and rental affordability has increased in South Australia from 2015-2016, the latest Real Estate Institute of Australia (REIA) and Adelaide Bank Housing Affordability Report shows.
The report’s latest affordability figure for the South Australian housing market is 25.5 per cent of a $1,535 median weekly family income, better than the 32.4 per cent recorded in December 2015.
SMH | 14 Aug 2017 | News
Commonwealth Bank chief executive Ian Narev will leave the bank by the end of the 2018 financial year.
Mr Narev has led Australia's largest bank to a series of record annual profits but has been under pressure for the past two weeks after AUSTRAC alleged CBA of breaching money laundering and terrorism financing laws.
SMH | 09 Aug 2017 | News
The Turnbull government will make a doomed second attempt to enact a plebiscite on same-sex marriage after Liberal MPs rejected an internal push to ditch the policy and allow a free vote.
If that fails to pass the Senate, as expected, the government is satisfied it can legally conduct a voluntary postal ballot without legislation – a threat it is now making to the Senate crossbench.