OPINION: More does not always mean better. This fact of life, told by generations of mothers to their children, is something Australia's banks are discovering as they fight to defend their handsome profits from the latest tax raid.
Shareholders in failed consumer electronics retailer Dick Smith are a step closer to taking class action against the business on the grounds they were misled about the company's profitability.
Federal Labor is having a bet each way on the government's new billion-dollar bank levy, backing its introduction but supporting a banker's call for a public inquiry.
The new bank levy has opened a Pandora's box that leaves Australia's biggest financial institutions exposed to even higher costs in future, according to a leading industry analyst.
Big banks have warned that customers and shareholders will carry the cost of the federal government's surprise $6.2 billion levy on Australia's largest financial institutions.
The balancing act that allowed Australia's big four banks to lift their combined first-half cash profit to $15.6 billion is getting more precarious, analysts say.
National Australia Bank has lifted first-half profit to $3.29 billion while putting more money aside for soured loans amid an impending oversupply of east coast apartments.
National Australia Bank has warned it will continue to face increased funding costs and competition after first-quarter unaudited cash earnings slipped about 1 per cent to $1.6 billion
National Australia Bank has returned nearly $35 million to 220,000 superannuation members who were charged for advice they did not get, while Bankwest refunded more than $4.9 million in mortgage interest payments after overcharging about 10,800 offset account customers for almost a decade.
National Australia Bank has called for greater leadership from government and more collaboration with business to help lift slow economic growth and create jobs.
National Australia Bank and Westpac have raised interest rates on certain types of mortgages as Australia's biggest lenders seek to offset some of the pressure on their margins.
Commonwealth Bank of Australia, Westpac and National Australia Bank have seemingly failed to secure permission to collectively bargain with Apple for iPhone users to make mobile payments from their own digital wallets, rather than Apple Pay.
Senior executives have created a poor compliance culture at the four major banks and should be named and shamed over mistreatment of customers, a parliamentary inquiry has found.
The big four banks and AMP are likely to refund at least $178 million to more than 200,000 customers who did not receive financial advice for which they were charged.
ANZ Banking Group has pledged to consider cutting credit card rates and stopping its millions of dollars in political donations, as its boss apologised for failing customers.
National Australia Bank has completed the sale of 80 per cent of its life insurance business to Nippon Life, and expects a loss of between $1.2 billion and $1.3 billion on the deal.
Perth-based biotechnology company Metavone hopes to list on the ASX next month after raising up to $5 million from investors in an initial public offering.
Consumer confidence has experienced a relatively stable six months, while economists expect the unemployment rate to have remained steady at 5.7 per cent in August.
The Australian share market lost its early morning gains to close at its lowest level since July on concerns about future stimulus programs by central banks.
The Australian share market has slumped to a two-month low as investors dumped stocks from all sectors on fears the US Federal Reserve could hike interest rates this month.
The Australian share market has made some solid gains as the prospect of an interest rate hike in the US in September was pared back following some weaker-than-expected US jobs figures on Friday night.
The Australian share market lost steam throughout the afternoon session to close slightly higher as gains in health care, resource and banking stocks offset losses in Woolworths and Telstra.
SPECIAL REPORT: Small businesses have taken a hit as confidence drops and the economy slows, but there are a few things governments can do to begin to alleviate the pain.
The share market has closed only modestly higher, despite US markets hitting record levels overnight, weighed down by weakness from market heavyweights Westpac and Telstra.
The Australian share market has closed slightly higher, with the big banks holding up the bourse in light trading following a weak lead from US markets
National Australia Bank chief executive Andrew Thorburn will tell a parliamentary committee that his bank had to balance the needs of borrowers, savers, investors and shareholders when it decided not to pass on in full the Reserve Bank's latest rate cut.
National Australia Bank is overhauling its business structure, folding parts of its wealth management unit into personal banking and separating its business banking into two units, with former Perth executive Cathryn Carver one of the winners.
House prices are expected to continue falling in Western Australia, with a survey of property professionals showing sentiment in WA is by far the worst of any state.
The Australian dollar gold price hit an all-time record of $1,826 an ounce today after Britain elected to leave the European Union, with shares in local gold miners rallying strongly even though the broader stock market tumbled more than 3 per cent.
Australia's major banks face soft profit growth amid growing macroeconomic risks linked to low interest rates and government tax policy, according to Fitch.
