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The Latest Breaking News from Matt Comyn

Commonwealth Bank posts $5bn profit as Australian households struggle. Here are four things we learned

While some of its customers are under considerable pressure, CBA is enjoying the fruits of its large mortgage portfolio, half-year financial results show

The Guardian - AU

Comm Bank hikes dividend as shares hit all-time high

Australia's leading bank has delivered a $5.1 billion first-half cash net profit, in what analysts have called a "gravity-defying rally".

AAP

CBA chair says ethical principles will govern AI use

Commonwealth Bank has the "best, most capable people" working on the use of artificial intelligence in its business, chairman Paul O'Malley says.

AAP

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Plague of our time: banks devoting more to scam fight

Australia's big four banks say they're setting aside more resources to prevent customers being scammed out of their money.

AAP

No cost to taxpayers from bond scandal: ANZ head

There will be consequences across ANZ following the misconduct of employees over bonds, the company's head says.

AAP

Business wants pay rises for Australia’s lowest paid workers limited to 2% – but what about executives?

Average pay of top bosses has increased from 17 times average earnings in early 90s to about 55 times now. What about those on minimum wage?

The Guardian - AU

CBA posts $2.5b in 1Q24 profit as arrears stay low

Australia's biggest bank says there was just a modest increase in late payments in the September quarter, despite the impact of higher interest rates.

AAP

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Bank boss tips living costs to ease, defends big profit

Most customers of Australia's biggest bank are well positioned despite a cost of living crisis, its chief says after the company booked a $10.2 billion profit.

AAP

Banks push back on mandates to stay in rural Australia

Increasing branch closures across rural Australia have raised the possibility of forcing banks to operate a minimum number of country outlets.

AAP

Easing global inflation story takes pressure off rates

Moderating inflation around the world could help the Reserve Bank build the case for an extended pause on interest rates.

AAP

Afternoon Update: Morrison ally faces possible Liberal expulsion; first home buyers slash spending; and the 10 highest-paid Australian CEOs

Alex Hawke delayed preselections, harming party’s chances at 2022 election, a motion submitted to NSW Liberal state council claims

The Guardian - AU

‘Do more to stop scammers’, watchdog tells bankers

Banks need to do more to prevent scammers from getting access to customers' funds, the consumer protection watchdog chair has told executives.

The New Daily

Households carry rate pain as businesses flourish

The disconnect between households worried about wages and mortgage repayments and businesses, which appear to be doing just fine, hasn't gone unnoticed.

AAP

Alan Kohler: RBA defence of interest-rate mallet highlights the truth about inequality

The first thing is that inequality is worsened by the responses to both low inflation and high inflation; it’s a lose/lose.

The New Daily

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AAP

CBA execs grilled on climate change at AGM

Commonwealth Bank's chairman has pledged to shareholders that it won't bank with companies that don't have a climate transition plan by 2025.

The Guardian - AU

Commonwealth Bank pauses in-app cryptocurrency trading after market turmoil

Bank says it will pause rollout of app-based trading of assets like bitcoin and Ethereum pending further regulation

ABC News

Reserve Bank minutes show a bigger interest rate rise was considered in May, still possible in June

Borrowers may only have narrowly escaped a bigger interest rate rise this month and should brace for the chance of a super-sized move in June, the Reserve Bank's latest minutes reveal.

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