The meltdowns of several cutting-edge self-parking garages show why.
Banking & Finance
Sally Rose 12:00 AM Governance standards in Australia's $2 trillion superannuation industry must be improved, according to JPMorgan's international pensions expert Benjie Fraser.
Ruth Liew and Joyce Moullakis 5:58 PM Morgans Financial has been slapped with tougher licence conditions after the corporate regulator found a string of problems at the broker.
Shaun Drummond 5:45 PM MyState bank chief Melos Sulicich says ever cheaper financial technology and big banks weighed down by capital imposts are pointing to a bright future for small banks.
James Eyers and Clancy Yeates 12:15 AM Several large fund managers were on Monday seeking meetings with Westpac to discuss its accounting policies and said they expect to make a decision about how they will vote at next Friday's AGM in the coming days.
Clancy Yeates 10:31 AM Westpac shareholders are being urged to vote against its remuneration report by a leading governance advisory firm.
The former HSBC employee who leaked information on large-scale tax evasion at the bank has been sentenced to five years in prison for aggravated industrial espionage.
Clancy Yeates ANZ's technology chief says start-ups trying to challenge banks are too often focused on pinching small pieces of business.
Sarah Danckert and Benjamin Preiss Collapse of major private vocational education provider could see colleges close over next 48 hours.
Shaun Drummond OzForex's board has agreed to support Western Union's $880 million offer for the company.
Shaun Drummond Bank of Queensland chief Jon Sutton politely hosed down some overly rosey analyst expectations of improved earnings on the back of hikes to interest rates.
Shaun Drummond Banks have won a reprieve from changes to securitisation rules that threatened to remove a major funding source and force smaller lenders to merge.
James Eyers The chief marketing officer of leading P2P lender SocietyOne and the chief executive of payments disrupter Tyro say start-ups need to think more strategically about the talent they hire and should stop trying to reinvent the wheel.
Euro zone central bankers could stagger charges on banks hoarding cash or to buy more debt to bolster efforts to boost the area's economy.
Adele Ferguson A week after saying it wanted to be known as the 'ethical bank', CBA has had to refund $80 million in compensation.
Shaun Drummond MasterCard co-head of Asia Pacific Ling Hai says the company wants to accommodate all the new players in payments, including Apple and Google, apparently confirming a split with Visa, which looks to be siding with the banks in their fight with Apple.
James Eyers and Jonathan Shapiro A cooling of the property market has averted a cut to the banks' credit ratings but still poses a risk should national house prices keep rising, Standard & Poor's says.
James Eyers The RBA governor says "the already-considerable resources devoted to IT security will grow" as awareness increases of cyber risk and its consequences".
Sally Rose The prudential regulator has refused to confirm or deny whether being an undisclosed and undischarged bankrupt should exclude an individual from being considered "fit and proper" to hold a senior investment role at a superannuation fund.