Business

Clancy Yeates

Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.

NAB has hiked fixed rates and says its funding costs remain "elevated."

NAB and ANZ Bank hike fixed mortgage rates

Two major banks have hiked fixed interest rates on home loans, and a senior banker at National Australia Bank says funding costs that drive variable interest rates "absolutely remain elevated."

The World Economic Forum in Davos this week takes place against a backdrop of growing anti-establishment politics.

Pay a key symbol as inequality dominates Davos

Chief executive pay has become a powerful symbol of the widening gap between the winners and losers created by globalisation, and boards must put more focus on justifying the bonuses they pay executives amid a backlash against free-market policies.

Melanie Evans, who will join ING Direct as head of retail banking.

This woman wants your big four bank account

ING Direct has poached Westpac rising banker Melanie Evans to spearhead the Dutch lender's plan to carve out a bigger share in the lucrative Australian retail banking market.

ANZ Bank chief executive Shayne Elliott tries out Android Pay, alongside managing director of products, Katherine Bray.

Virtual credit cards get step closer

ANZ Bank is moving a step closer towards "virtual" credit and debit cards, through new changes to automatically upload replacement cards for those that are lost onto customers' smart phones.

The big four banks pay out more than $20 billion a year in dividends.

Banks can keep paying juicy divvies

Bank's juicy dividends can be sustained in the face of looming increases in capital requirements, as lenders have probably raised the vast majority of the capital they will need, according to new analysis from Credit Suisse.