Clancy Yeates

Clancy Yeates

Clancy Yeates reports on banking and finance and is a former Canberra business correspondent.

Banking

ANZ late payment credit card fees illegal: court

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Clancy Yeates Big banks could be forced to pay back more than $55 million in fees.

Gender

Gender balance: Finance chiefs want women to move up within their firms

Kevin McCann.

Clancy Yeates Senior figures in finance urge industry to raise number of women in top executive and director roles.

Hedge fund closer to trial in Goldman Sachs case

Clancy Yeates An Australian hedge fund that lost $US67 million when it bought toxic assets from investment bank Goldman Sachs is a step closer to having its day in court, after a New York court quashed Goldman...

Economic survey: Experts want financial inquiry to beef up consumer protection

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Clancy Yeates David Murray's financial system inquiry should examine ways to beef up consumer protection and improve disclosure standards for retail investors, some of the country's top economists say.

Legal

Court dismisses Goldman Sachs hedge fund appeal

Goldman Sachs Group logo.

Clancy Yeates An Australian hedge fund that lost $US67 million when it bought toxic mortgages from Goldman Sachs is a step closer to having its day in court against the investment bank, after a New York court...

Economy

Higher confidence filtering through to borrowing, ANZ says

Story by: Ruth Williams
Photo: Ken Irwin KEN 7th December 2013 The Sunday Age. Business
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ANZ

Clancy Yeates ANZ says higher business confidence is finally prompting companies to increase borrowing.

Banks

Business confidence to lift borrowing, says ANZ

Anz

Clancy Yeates ANZ Bank says higher business confidence is finally prompting firms to increase their borrowing, a trend it expects to strengthen in 2014.

Banking

ANZ review after glitch forces $70m in home loan refunds

ANZ.

Clancy Yeates ANZ Bank is conducting a sweeping review all of its home loan, savings and small business accounts to ensure they are operating correctly, after a major glitch forced it to refund $70 million to...

Finance

Australian banks rush to lend $28.7 billion to Chinese borrowers

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Clancy Yeates Australian banks' lending to Chinese borrowers has soared by 75 per cent in a year, as the industry rushes to lift its exposure to Asia's powerhouse economy.

Banking

NAB reports a loosening of the purse strings on credit cards

NAB

Clancy Yeates Households set to borrow more on credit cards, NAB's top retail banker has predicted.

Economy

Advance Australia fair? Maybe not

Clancy Yeates dinkus

Clancy Yeates Lots of national myths get bandied about on Australia Day, and a common one is that we are a fairly classless society.

Banking

Corporate reputations 'at risk' in emerging markets, experts say

banking.

Clancy Yeates Australian companies warned they face a growing risk as they push into developing countries.

Senate inquiry

ANZ warns of super real estate risks

ANZ.

Clancy Yeates ANZ urges corporate regulator to be aware of looming risks in property market, highlighting potential dangers of geared real estate investment by self-managed super funds.

Credit

NAB sweetens personal loan, credit card offers in bid to boost consumer lending share

nab

Clancy Yeates National Australia Bank is making a push to increase its share in consumer lending, cutting interest rates on personal loans and launching a new offer to woo more credit card customers.

Banking

Australian banks still overpriced, says Goldman Sachs

Big four banks

Clancy Yeates Valuations of most of the big four Australian banks remain ‘‘stretched’’, investment bank Goldman Sachs says.

Banking

Small lenders take bigger share of fixed rate mortgage market

Mortgage application.

Clancy Yeates Smaller lenders are making an aggressive push into the market for fixed-rate home loans, pinching a significant number of new customers from the big four last year.

Regulation

A bank too big to fail is too big a risk

Big four banks

Clancy Yeates The sheer size of Australia's banks is shaping up as one of the more interesting issues facing this year's inquiry into the financial system.

Credit

Regulatory tricks, to their credit, in our interest

Online shopping

Clancy Yeates Figures show the average credit card balance fell by the largest proportion on record.

Banks' dividend growth cops a buffering

Clancy Yeates Australia's big banks could face headwinds in sustaining their strong rates of dividend growth, as a result of new rules requiring them to hold billions of dollars more in capital.

Regulation

Watchdog clamp on UBS trades

Clancy Yeates The Australian arm of UBS has been forced to review internal processes and put $1 million towards financial literacy after some staff tried to manipulate a key local interest rate.