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Banking & Finance
Shaun Drummond 8:31 PM Pepper Group co-chief Patrick Tuttle said they are gaining borrowers as banks globally slow down lending due to regulatory pressure, but has rejected views that they will get a big boost from the actions.
Joyce Moullakis 7:19 PM AIMS Financial Group has signed an agreement to buy the remnants of failed stockbroking and advisory firm BBY, as about 150 creditors came together in an attempt to gain clarity on money owed to them.
James Eyers and Clancy Yeates 6:35 PM Rising property prices, household debt and unemployment have increased the risks in bank mortgage books, says Philip Lowe, the deputy governor of the Reserve Bank of Australia.
Shaun Drummond 6:21 PM The chief of Radio Rentals' owner Thorn Group, James Marshall, said it will merge its online lending platforms to take better advantage of demand for short-term loans amid low consumer confidence.
James Eyers 6:02 PM The Australian Securities and Investments Commission has issued reports to the boards of several investment banks on potential deficiencies in their corporate culture, as scrutiny of remuneration and potential conflicts of interest in investment banking gathers pace.
Michael Pascoe 5:04 PM Maybe banks are speaking publicly about trimming discounts for property investors to avoid bringing attention to tougher standards for all loans.
Patricia Hurtado 3:36 PM The FBI agent who oversaw the Bernard Madoff investigation and helped pioneer the use of wiretaps that yielded dozens of insider-trading convictions is now working for Goldman Sachs. He's the latest in a line of former feds who've moved to Wall Street firms.
Sally Rose 10:05 AM Former UBS Wealth Management chief Mike Chisholm says he's received numerous assurances from staff that they'll follow him to his new venture.
Matthew Goldstein 9:06 AM Deutsche Bank has agreed to pay a $US55 million penalty to the US Securities and Exchange Commission to settle claims that its "inadequate internal accounting controls" violated federal securities law.
Jenny Anderson 8:49 AM Tom Hayes, a 35-year-old former trader for Citigroup and UBS, was the "ringmaster" in a concerted effort to manipulate global benchmark interest rates to make as much money as he could, prosecutors said.
Clancy Yeates Westpac is hiring Commonwealth Bank executive Lyn Cobley to replace its long-serving institutional boss, Rob Whitfield, who is leaving the bank after missing out on the top job last year.
Jonathan Shapiro The banks are driving a distortion in Australia's over-concentrated equity market, says Rob Osborn of Lazard, one the most experienced stock pickers in the Australian market.
Clancy Yeates and James Eyers The major banks' clampdown on lending to landlord buyers is set to help Reserve Bank keep interest rates at record lows by dampening the investor-led housing boom, economists predict.
Shaun Drummond Investor worries about rising costs hit the share price of online money transfer company OzForex again on Tuesday despite its full-year net profit jumping 52 per cent to $24.27 million.
James Eyers Ratings agency Moody's says "growing imbalances" in the housing market pose a long-term challenge to the banks' credit profiles.
Patrick Begley A man who snared more than $180,000 in insider trading deals used share investing to win the approval of his emotionally abusive father, a court has heard.
Joyce Moullakis ASIC has banned former Macquarie Equities stockbroker and adviser Brett O'Malley from providing financial services for five years.
Clancy Yeates Bank of Queensland has moved to apply more thorough affordability checks for home loans, after the corporate regulator found its processes did not comply with responsible lending laws.
James Eyers Ratings agency Standard & Poor's says it will view positively any move by the prudential regulator to force big banks to hold more capital against their mortgage books, because it will reduce the rate of growth in home lending and take the pressure off house prices.
Ruth Liew US pension fund New Bedford Contributory Retirement System has joined a class action against Genworth Financial, alleging the US giant misled shareholders over the outlook of its Australian insurance arm's initial public offering.
Ruth Liew Volatile bond yields and record low interest rates are becoming increasing risks for Australian insurers.
James Eyers Venture capitalist brothers Ben and Toby Heap have established a new fintech-focused venture capital fund and accelerator, H2 Ventures.
James Eyers The value of loans made through peer-to-peer lending platforms in Australia will surge to $22 billion in the next five years, says investment bank Morgan Stanley, forcing the big banks to speed up investment in new technology.
Shaun Drummond Morgan Stanley's Australian investment bank has slashed its after-tax loss for 2014 by $30 million to just more than $7 million, after its advisory fee income rose by $26 million.