Some of the strangest automobiles ever to roll out of Uncle Sam's garage.
Banking & Finance
James Eyers 5:45 PM Westpac will raise an additional $2 billion of capital through a discounted share issue under its dividend reinvestment plan, as the bank seeks to arrest a decline in its closely watched common equity tier 1 capital ratio.
Ruth Liew 3:15 PM The Association of Financial Advisers is confident it would meet a deadline set by the government to respond to the Trowbridge report, as the lobby group continues to seek answers to the problems in Australia's troubled life insurance sector.
Shaun Drummond Visa warns a cap on the estimated $2.5 billion in fees merchants pay banks to issue credit cards will transfer their cost to consumers and stymie payments innovation, but it supports proposed surcharge bans.
James Eyers NAB will receive $US430 million ($544 million) from the sale of the second tranche of US subsidiary Great Western, after upsizing the share offer and pricing the deal at $US21.50 apiece overnight.
Jonathan Shapiro and Clancy Yeates Almost $20 billion has been wiped off the value of the big four banks by sharemarket investors this week as concerns mount that the prudential watchdog will take aggressive action against the threat from rampant property speculation.
James Eyers The banking regulator is willing to act "sooner rather than later" to implement the financial system inquiry's call for the big four banks and Macquarie to hold higher capital against mortgages, a move that could depress returns.
Shaun Drummond Emilio Gonzalez, the managing director of Westpac-owned fund manager BT Investment Management, said it will continue its global expansion to offset fee cuts in Australia driven by reforms to the superannuation sector.
Banking & Wealth Summit
Ruth Liew The chairman of the Future Fund, Peter Costello, has urged politicians to stop messing around with the country's $1.9 trillion superannuation system, warning increasing super taxes will worsen the burden of the age pension with younger Australians forced to bear the cost of the tinkering.
Jonathan Shapiro Leah Zell, Chicago's renowned small cap fund manager, says buy-out firm exits via public floats are throwing up some compelling opportunities.
Esther Han They owe the biggest amounts on credit cards - and they're the least likely to pay off their balance in full each month.
Clancy Yeates Commonwealth Bank chief executive Ian Narev has warned of the importance of ensuring new rivals can manage liquidity.
Patrick Commins PIMCO's head of portfolio management in Australia worries that household debt is running out of control, with much of it linked to the property market.
Banking & Wealth Summit
Sally Rose Commonwealth Bank of Australia board member has spoken out about the potential destruction of shareholder value if the banking industry does not demonstrate how it is taking customer complaints seriously.