Economy

The major bank has conceded to the royal commission that there were a “number of errors” in an “unacceptable” loan application it approved.  

The major bank has announced that it will be offloading its stake in a Chinese bank’s life insurance business to boost its capital position.

Australian insurer QBE has announced that it will commit a minimum of $100 million towards a range of initiatives, including affordable housing.

The Australian Banking Association has revealed that it has made further changes to its new draft Code of Banking Practice, which has been sent to ASIC for approval.

The ASX has begun calculating the Bank Bill Swap Rate (BBSW) using a new methodology that puts a greater emphasis on trade activity.

A key witness in the Hayne royal commission has revealed that loan guarantors have been victims of abuse, elder abuse, familial abuse and coercion.

Sydney will experience the sharpest decline house prices among Australia’s capital cities in the next two years, according to an update from QBE.

The federal government has opened a consultation on exposure draft legislation designed to ensure foreign investors pay their "fair share" of tax.

Prospa has announced the terms of its initial public offering, selling new shares at $3.64 to raise approximately $146 million and list on the ASX next month.

The big four bank has announced that it has reached an agreement to sell its 55 per cent stake in ANZ Royal Bank to a Japanese trust.