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Latest news: Banking

Commissioner warns of 'tech wreck' from unchecked abuse

Commissioner warns of 'tech wreck' from unchecked abuse

As Australia races to retrofit laws for generative artificial intelligence, the nation's eSafety commissioner says investigators face real-life harms every day.

'Once-in-a-generation' change in corporate reporting

'Once-in-a-generation' change in corporate reporting

'Once-in-a-generation' change in corporate reporting

'Once-in-a-generation' change in corporate reporting

Smaller firms may be wary of new reporting obligations but the big end of town is calling for rapid passage of laws requiring honesty on climate-related risks.

Australia forecast to become a carbon credit factory

Australia forecast to become a carbon credit factory

Australia forecast to become a carbon credit factory

Australia forecast to become a carbon credit factory

Firms have been warned to be honest about the role of carbon markets in curbing climate change and biodiversity loss, with carbon credit production set to soar.

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Add skills to adapt to 'new era' in climate disclosure

Add skills to adapt to 'new era' in climate disclosure

An online course to help firms meet obligations under new global and Australian sustainability and climate-related financial standards has opened for enrolment.

Mandatory climate reporting regime pushed out to 2025

Mandatory climate reporting regime pushed out to 2025

Corporations will be covered by a climate reporting regime under new laws but not yet, as Treasurer Jim Chalmers bends to pressure from the big end of town.

Financiers shun nuclear, upbeat on climate investment

Financiers shun nuclear, upbeat on climate investment

Financiers are more upbeat on climate investment as Australia charts a clearer course, but nuclear reactors are not where they want to put superannuation money.

'No care factor' as banks abandon remote communities

'No care factor' as banks abandon remote communities

Business owners are having to fly with bags of cash to city banks after a remote branch closed its doors, amid reports of robberies, scams and elder abuse.

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Woodside, Santos expansion less than super for funds

Woodside, Santos expansion less than super for funds

Woodside, Santos expansion less than super for funds

Woodside, Santos expansion less than super for funds

Some superannuation funds are reducing exposure to Woodside and Santos as members demand more climate action instead of their money bankrolling new gas fields.

CBA restores service, apologises after overnight outage

CBA restores service, apologises after overnight outage

CBA restores service, apologises after overnight outage

CBA restores service, apologises after overnight outage

Commonwealth Bank has apologised after an outage overnight locked customers out from their accounts.

Consumers paying the price for 'slow' data right scheme

Consumers paying the price for 'slow' data right scheme

Consumers paying the price for 'slow' data right scheme

Consumers paying the price for 'slow' data right scheme

The economy would get a $16.7 billion boost within decades and almost 50,000 new jobs if consumers could give the nod to sharing more data, economists say.

Bankwest branches to close in WA

Bankwest branches to close in WA

Bankwest branches to close in WA

Bankwest branches to close in WA

Bankwest is set to close all 60 of its branches across Western Australia by October.

Big end of town ready but push back on climate regime

Big end of town ready but push back on climate regime

Big end of town ready but push back on climate regime

Big end of town ready but push back on climate regime

Most directors are worried about climate change risks but could get extra time to prepare for more thorough financial disclosure and transition planning.

Aussie workers above average on artificial intelligence

Aussie workers above average on artificial intelligence

Aussie workers above average on artificial intelligence

Aussie workers above average on artificial intelligence

The trick to harnessing artificial intelligence is to get clear evidence and guidance on how humans and machines should share the workload, a tech leader says.

Westpac confuses councils, apologises for Mr Bean error

Westpac confuses councils, apologises for Mr Bean error

Westpac confuses councils, apologises for Mr Bean error

Westpac confuses councils, apologises for Mr Bean error

A Westpac email mixing up councils is one of many stories aired at an inquiry into bank closures showing the disconnect between the big four and rural towns.

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ANZ, Suncorp welcome takeover approval as ACCC reflects

ANZ's proposed $4.9 billion takeover of Suncorp's banking arm will proceed after a tribunal found it would not lessen competition but would benefit consumers.

Firms less keen as emission cuts move beyond quick wins

Cost savings, not saving the planet, are front of mind for Aussie businesses working on decarbonisation plans, and they're lagging their peers, a survey finds.

Banks closing on people who need them the most: report

Digital affordability and skills gaps in regional Australia stop vulnerable and elderly people using online banking when local branches shut, a report says.

Commonwealth Bank reports $5.02 billion H1 profit

Australia's biggest bank made $5 billion in profit in the first half, down three per cent from a year ago, but has raised its dividend.

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Union hopes for reset with incoming NAB chief executive

National Australia Bank has announced that Andrew Irvine will replace Ross McEwan as its chief executive, effective in April.

Westpac to pay millions after 'unconscionable conduct'

After being taken to court by the corporate watchdog, Westpac has been penalised for engaging in in unconscionable conduct in 2016.

ME Bank fined $820k for misleading home loan customers

ME Bank has admitted sending incorrect letters to hundreds of home loan customers because of a technical software issue.

Draft laws usher in compulsory climate risk disclosure

Draft laws for mandatory reporting of climate-related risks have been released by Treasurer Jim Chalmers.

Clowning around: climate activists disrupt ANZ meeting

ANZ chief executive Shayne Elliott has told shareholders that the bank's climate commitments are considered by its top executives on a daily basis.

NAB chair defends bank's climate pledges at fiery talks

Shareholders have grilled NAB's chairman over the banking giant's commitment to climate change at a heated annual general meeting.

Tiwi Islanders call on NAB to stop investing in Santos

Tiwi Islanders want National Australia Bank to stop funding gas company Santos, which is trying to build the Barossa project off the NT coast.

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