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Banking

Commonwealth Bank details $350m cost of keeping cash in branches

by Anas Siddiqui
Commonwealth Bank details 0m cost of keeping cash in branches

Australia’s largest bank has revealed it’s spending hundreds of millions each year to keep cash available across its branches and ATMs. In its latest annual results presentation, Commonwealth Bank announced …

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‘Surprisingly vulnerable’: Cyber expert rings alarm on gaping holes in Aussie small businesses

by Anas Siddiqui
‘Surprisingly vulnerable’: Cyber expert rings alarm on gaping holes in Aussie small businesses

The average cost of an all-too-common cyber attack on Australian small businesses is at least $50,000, a cyber security firm has found. As federal regulations tighten to inflict larger punishments …

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Iron ore price slump puts Albanese government spending in the spotlight

by Anas Siddiqui
Iron ore price slump puts Albanese government spending in the spotlight

Labor’s federal spending has been put in the spotlight after the falling iron ore price triggered fears it would dent Australia’s budget bottom line by $3bn. Prices have fallen by …

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Australian share market on Monday reaches two-week high but China issue looms

by Anas Siddiqui
Australian share market on Monday reaches two-week high but China issue looms

More positive than gloomy financial results have dragged the Australian share market into positive territory, although serious concerns about the iron ore price loom large. Jim Chalmers raised the alarm …

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‘Malicious’: 20 fake investment scam sites pulled offline every day by Aussie business watchdog

by Anas Siddiqui
‘Malicious’: 20 fake investment scam sites pulled offline every day by Aussie business watchdog

The Australian corporate watchdog is ripping down 20 investment, phishing and cryptocurrency scam websites every day. The Australian Securities and Investments Commission kicked off an investment scam disruption crackdown last …

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‘Many facing pressures’: Westpac mortgage arrears, business lending weighs on bank’s book

by Anas Siddiqui
‘Many facing pressures’: Westpac mortgage arrears, business lending weighs on bank’s book

More mortgage holders are behind on repayments and businesses are battling falling demand as cost-of-living grinds on the Australian economy, Westpac’s latest quarterly results show. In a third quarter update …

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Commonwealth Bank expects November rate cut after July household spending

by Anas Siddiqui
Commonwealth Bank expects November rate cut after July household spending

Australian homeowners buckling under mortgage stress could soon receive relief from crushing interest payments, with banking giant Commonwealth Bank forecasting a rate cut as soon as November in its latest …

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Commonwealth Bank expects November rate cut after July household spending

by Anas Siddiqui
Commonwealth Bank expects November rate cut after July household spending

Australian homeowners buckling under mortgage stress could soon receive relief from crushing interest payments, with banking giant Commonwealth Bank forecasting a rate cut as soon as November in its latest …

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Artists, theatre owners confront dire cost-of-living spending slump leaving industry on the brink

by Kwame Phillips
Artists, theatre owners confront dire cost-of-living spending slump leaving industry on the brink

Aussie artists are in a struggle for survival. The first punch was Covid and now the country’s rolling cost-of-living crisis has pushed consumers to pull back their entertainment spend on …

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‘Falling behind’: Small business risks revenue with old tech, while quarter of Aussies still use cash

by Walter Watson
‘Falling behind’: Small business risks revenue with old tech, while quarter of Aussies still use cash

A quarter of Australians still rely on cash when purchasing from small businesses, a new report has found. A survey by small business accounting outfit Xero found 25 per cent …

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