S&P riding credit wave

Standard & Poor's is springing back from its own bruising encounter with the credit shock and has an ever-busier financial market to thank for the revival in its fortunes. read more

Prospects subdued for CBA

Its counterparts may be on the verge of reporting a handsome recovery in profit, but Commonwealth Bank, the sector leader, yesterday cautioned its shareholders on the earnings outlook. read more

Tax back a profit problem for Westpac

Westpac will reduce its tax bill by $635 million in the financial year just ended, following resolution of most of the tax consolidation issues surrounding the takeover of St George Bank in early 20.. read more

The Rock replaces CEO

Derek Lightfoot, chief executive of The Rock Building Society, left the firm on Friday and has been replaced by Stuart McDonald as interim CEO. read more

Treasury sceptical about rate rationale

The flap over whether, and why, banks might lift margins on home loans has flared up again in Canberra, assisted by the measured observation of a Treasury official and the more colourful contributio.. read more

Financial conditions tighten with rising A$

The rising exchange rate is working to restrain rises in the cash rate in Australia, the Reserve Bank of Australia confirmed in the minutes of its October board meeting, published yesterday. read more

Reform works for Smith

Australia's political class must rekindle "leadership", ANZ's CEO, Mike Smith, told a business lunch in Melbourne yesterday. read more

RMBS remains loss-maker for AOFM

The Australian Office of Financial Management recorded mark-to-market losses of $72 million on its holdings of $9 billion in mortgage-backed securities as of June 2010, according to the agency's ann.. read more

Problems in the Post

Australia Post's financial services business recorded a decline in revenue, and presumably volume, in the year to June 2010, according to the corporation's annual report. read more