It’s an unnerving time for Africa’s banking industry. On August 19, the ratings agency Moody’s announced it had downgraded by a notch the risk rating of South Africa’s four biggest banks – FirstRand, Standard…
The explosive issue of banker bonuses refuses to go away – and not just because of the Bank of England’s controversial new “clawback” measures, which will defer bonuses for three to five years. President…
The people who manage pensions and investments are locked in a constant battle to win our custom, often dazzling us with examples of how well they have beaten the market in the hope that this success will…
British regulators have finally made some progress in efforts to keep a lid on the payday lending sector. A cap on costs will reduce the impact on those forced to borrow under the industry’s tough terms…
The 2007-2008 banking crash ushered in an era of austerity and pay freezes, but bank executives have continued to enjoy disproportionate rewards even though their institutions have been bailed out by taxpayers…
Imagine having to wait seven years before you could be sure that what you were properly paid for your job. If it sounds like a bad deal then maybe it’s time to spare some empathy for bankers at UK financial…
The EU has been busy promoting its business interests abroad in an attempt to boost exports, underpin a faltering economic recovery and raise the competitiveness of European member states. Trouble is…
At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
Banco Espírito Santo, the Portuguese bank, has become the top concern for international investors in recent days. The Portuguese stock exchange has taken a big hit and other European equity markets have…
Australia’s big four banks are the most profitable in the world. Last year they made A$27 billion in profit, up 9.5% on the previous year. Tech leaders in Australia say the financial industry is ripe for…
Jane Kelsey, University of Auckland, Waipapa Taumata Rau
Wikileaks has shone the light yet again on behind-the-scenes manoeuvres by a core of governments seeking to advance a free market agenda in the guise of “trade”. The leaked text on financial services is…
Revelations by whistleblower organisation Wikileaks of secret global negotiations to further deregulate global financial services, has led to speculation that such pact could signal the end of Australia’s…
Facebook has been on a shopping spree in 2014. It’s looking to buy a drone company so it can bring the internet and Facebook to the remaining 6 billion people on Earth who aren’t already using it, and…
Over 40% of mortgages in Australia are sold by mortgage brokers, not by their manufacturers - an issue that has the CEO of Australia’s fifth largest bank, Suncorp, arguing the sector is skewed towards…
One of the major recommendations made by the 1997 Wallis Inquiry into banking was to establish a prudential regulator for the financial sector separate from the Reserve Bank of Australia. The new regulator…
Just when members of the Co-op thought the group’s increasingly farcical situation was coming to an end, it was revealed that the bank had overlooked £400m in fines for mis-selling payment protection insurance…
Australia’s big banks want the government to give their customers tax breaks on interest income, having told the Financial Systems Inquiry it would encourage more savings. In turn, the banks will have…
The ongoing global financial crisis (because we’re not out of it yet, are we?) is often characterised as a crisis of trust. Distrust of the banks was a major theme – but distrust extended also to credit…
The shocking and rapid resignation of Euan Sutherland, the chief executive of the Co-operative Group, shines a light on the clash of cultures being played out at the top of this organisation. Sutherland…