Ian Narev

PM’s $12 billion gift to CommBank

The big bank today became the latest corporate giant to have its profit presented as if the full tax reduction package was in force.<p>And that would …

Commonwealth Bank

Former CBA boss misses $16m in bonuses

Former Commonwealth Bank boss Ian Narev has forgone about $16 million in potential bonuses as part of a $100 million-plus cut to pay for the bank's …

Money Laundering

CBA FY cash profit drops 5% to $9.23b

Commonwealth Bank has posted a drop in annual cash profit of $9.23 billion, hit by a $700 million fine after the nation's biggest bank broke …

Money Laundering

Australia's CBA slashes executive pay by $44 million after regulatory inquiry

© Reuters. FILE PHOTO: A Commonwealth Bank logo adorns an Automatic Tellar Machine located in Sydney, Australia<p>(Reuters) - Commonwealth Bank of …

Stock Markets

Australian Bank Slapped With Record Fine For Thousands Of Suspicious Transactions

Australia's largest bank has been hit by a record $531 million fine for delays in reporting tens of thousands of transactions – a breach of the country's anti-money laundering and counterterrorism regulations.<p>The Commonwealth Bank of Australia, or CBA, admitted that it had been late in reporting …

Commonwealth Bank

CBA admits AUSTRAC breaches, pays $700m

WHAT WAS CBA ACCUSED OF?

U.S. Federal Courts

SKY News journo wins business reporting award

SKY News Business Reporter Leo Shanahan has been recognised at the National Press Club of Australia’s Excellence in Financial Journalism Awards.He …

TV (Australia)

Millionaires' factory churns out the $10m-plus pay packets

Brazil, who spent a few years on the board of Packer's casino operator, Crown Resorts, has been so determined to make his own way in the world that …

Commonwealth Bank

Commonwealth’s rotten culture exposed as bank cops huge penalty

The Commonwealth Bank, from the board down, had a poor culture that ignored risk and bad customer outcomes and rewarded poor behaviour. Now the …

Commonwealth Bank

More than 30,000 customers affected, according to ASIC

The Australian Securities and Investments Commission says Commonwealth Financial Planning and BW Financial Advice could not prove they had advised …

Profit

Former CBA boss Ian Narev departs with $12m worth of shares, with more on horizon

And did anyone forget about that little matter with Austrac?<p>And remember what happened last year when chairwoman <b>Catherine Livingstone</b> sent all the …

Superfund

CBA sought to halve broker flows in 2016

Confidential internal documents from the Commonwealth Bank show that the bank sought to reduce the proportion of broker flows from around 45 per cent …

Finance

CBA CIO David Whiteing out in exec restructure

The Commonwealth Bank’s chief information officer, David Whiteing, will leave the bank next month following an executive team restructure announced …

Commonwealth Bank

Australia's biggest bank to enter mediation over laundering claims

SYDNEY (AFP) -<p>Australia's Commonwealth Bank plans to enter mediation with the country's financial intelligence agency over a major anti-money laundering civil case that could be hugely costly for the lender.<p>The nation's biggest bank was taken to the Federal Court in August for "serious and systemic …

Commonwealth Bank

Banking royal commission has an impact in Hong Kong

The Hayne royal commission muscled its way into Asia's biggest investment conference in Hong Kong this week as global equity investors questioned the …

Hong Kong

Lies, damned lies, and banking mea culpas at the royal commission

While the banking royal commission exposes scandal after scandal, the corporate regulator is still uttering platitudes about the sector regulating …

Commonwealth Bank

Ian Narev to chair UNSW Gonski Institute for Education advisory board

UNSW Sydney has appointed one of Australia’s top business leaders, Ian Narev, as chairman of the Education Advisory Board for the University’s Gonski …

Education

Donald Trump sets up test for Malcolm Turnbull over China

China has responded furiously to the American effort to assert shipping rights near Chinese military bases, most recently when the missile destroyer …

Donald Trump

Trump warns on North Korea, warms to Australia

Mr Turnbull backed the new US initiative and pointed to existing Australian sanctions as proof of Australia’s resolve on the matter.<p>Concerns about …

Donald Trump

Australia's big banks focus on job cuts as inquiry looms

This has raised pressure on rival lenders to also aggressively lower their costs, with workers in the finance industry bearing the brunt of …

Australian News

Cryptocurrencies are like Ponzi schemes, World Bank chief says

The head of the World Bank compared cryptocurrencies to "Ponzi schemes", the latest financial voice to raise questions about the legitimacy of …

Cryptocurrency

Wall Street plunge a 'big mistake', says Trump

"For investors, there are two paths — either go with the panic or stick with the fundamentals," said Carsten Brzeski, an economist at ING Bank.<p>"Over …

Stock Markets

Volatility Inc.: Inside Wall Street's $10 billion time bomb

Call it the volatility-financial complex. All told, financial players have created more than $US8 billion ($10 billion) of products tied to one index …

Markets

8@eight: ASX set for uncertain start; $A slides

The equity bulls have seen a rising oil price as one of the central components of the elevated sentiment towards risk assets. However, that premium …

Stock Markets

Why the sex industry is the perfect place to launch a cryptocurrency

Fighting bias<p>Callon-Butler says businesses operating in the sex industry often experience discrimination and so struggle to get finance or financial …

Ian Narev's final result a summary of his tenure at Commonwealth Bank

Commonwealth Bank of Australia chief executive Ian Narev's final set of financial results provided a neat summation of his time in charge of …

Commonwealth Bank

We’re for Sydney | Daily Telegraph

No Cookies<p>To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below.<p><b>Facebook</b> …

Markets

Markets Live: Calm after the storm

That's it for Markets Live today.<p>Thanks for reading and for your comments.<p>See you again tomorrow.<p>The Australian sharemarket recovered from its worst …

Markets

Laundering scandal costs in focus in CBA's first-half profits

Senior analyst at Clime Asset Management, David Walker, said a key issue when CBA hands down its profit may be whether the extra compliance costs are …

Finance

How Matt Comyn became CEO of CBA

Insider Matt Comyn was only 34 when he faced the biggest decision of his career: stay or leave the Commonwealth Bank of Australia, where he was …