Clancy Yeates

Clancy Yeates

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

Banking

Asian appointment key in ANZ succession

banking.

Clancy Yeates ANZ to make a critical appointment that could signal a potential successor to CEO Mike Smith.

Offshoring

ANZ to cull 70 at call centre

Call centre

Clancy Yeates and Mark Hawthorne ANZ has become the latest big Australian company to send more jobs overseas, replacing 70 call-centre jobs with positions in New Zealand as part of attempts to bolster profit through cost-cutting.

Gambling

Job cuts as Crown seeks to bankroll Sydney resort

Crown logo.

Clancy Yeates and Madeleine Heffernan The $9.35 billion casino company Crown has confirmed rumours of job cuts.

Crown, ANZ to cut jobs

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Clancy Yeates and Madeleine Heffernan Casino giant Crown and the ANZ bank are the latest corporate giants to cut Victorian jobs, as economists tip the nation's unemployment rate to rise to 6 per cent by year's end.

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Floats

Insurance broker Steadfast in move to list on stock exchange

Frank O'Halloran.

Clancy Yeates Insurance broker Steadfast Group is pushing ahead with plans to list on the stock exchange.

Banking

Sign of end to the war over deposit rates

Piggy bank.

Clancy Yeates Interest rates on a range of savings accounts are falling faster than the official rate.

Cleaners

Hundreds of jobs binned in company collapse

Pictures shows Lake Macquarie's three bins. The green-lid bin is for green waste, the red-lid bin for general waste, the yellow-lid bin for recycling.

Clancy Yeates Nine hundred workers in NSW have lost their jobs as a result of cleaning company Swan Services collapsing earlier this week.

Households nervous as jobs go en masse

Ford

Clancy Yeates Thousands of workers were told they would lose their jobs on Thursday amid growing signs the labour market is deteriorating.

Economy

Consumer confidence falters as thousands of jobs disappear

Ford workers leave the company's foundry in Geelong.

Clancy Yeates Thousands of workers were told they would lose their jobs amid growing signs the labour market is deteriorating.

Telstra cuts jobs amid market woes

Telstra Chief Operating Officer Brendon Riley

Clancy Yeates, Tim Colebatch Telstra is poised to make deep cuts to its 30,000 strong Australian workforce, amid a slump in consumer confidence and falling mining investment.

Finance

Resimac offering $130m for RHG

RAMS HOME LOANS.

Clancy Yeates Non-bank lender Resimac has made a bid to acquire the remnants of mortgage firm RAMS in a joint proposal with former Babcock & Brown banker Trevor Loewensohn.

Insurance

$3b blown away in tornado, but QBE may be safe

A man salvages his belongings after a tornado struck Moore, Oklahoma, May 20, 2013. A 2-mile-wide (3-km-wide) tornado tore through the Oklahoma City suburb of Moore on Monday, killing at least 51 people while destroying entire tracts of homes, piling cars atop one another, and trapping two dozen school children beneath rubble. REUTERS/Gene Blevins (UNITED STATES - Tags: ENVIRONMENT DISASTER)

Clancy Yeates The catastrophic Oklahoma City tornado could leave a damage bill of up to $US3 billion.

Insurance

QBE avoids tornado fallout

Huge Oklahoma tornado caught on camera (Thumbnail)

Clancy Yeates The catastrophic Oklahoma tornado could have a damage bill of up to $3b, raising the prospect of another wave of claims for insurance companies.

Funding

Investors snap up Macquarie hybrid issue

Macquarie bank logo.

Clancy Yeates Success of the share issue prompted the bank to bulk up the size of its offer by up to half.

Markets

Strong demand for Macquarie hybrids

colour cartoon / illo / illustration / toon / artwork Karl Hilzinger
chess board, %, percentage sign
interest rates
investment
housing finance
shares, property, bonds, fixed interest

Clancy Yeates Investors have snapped up Macquarie's latest hybrid share offer, prompting the bank to raise the size of its offer by up to half.

Banking

Institutional broking 'on the mend'

Massive profit for Commbank (Thumbnail)

Clancy Yeates The CBA executive leading its push into institutional stockbroking believes there is light at the end of the tunnel for the sector.

Budget reaction

Multinationals cry foul at tax changes

Treasurer Wayne Swan delivers his post Budget address, at Parliament House in Canberra on Wednesday 15 May 2013. Photo: Alex Ellinghausen

Peter Ker, Clancy Yeates BP describes the 2013 budget as a 'missed opportunity' for tax reform.

Multinationals cry foul at budget's corporate tax changes

Peter Ker Clancy Yeates Multinational oil and gas company BP has described the 2012 budget as a ''missed opportunity'' for tax reform and said some of the tax changes announced were at odds with a pro-growth agenda.

Multinationals cry foul at budget's corporate tax changes

Peter Ker, Clancy Yeates Multinational oil and gas company BP has described the budget as a ''missed opportunity'' for tax reform and said some of the tax changes announced were at odds with a pro-growth agenda.

SMSF

Banks hunt for their own super returns

Cash

Clancy Yeates Westpac expects more Australians to shift their retirement savings in the $450 billion self-managed superannuation sector as investors push for lower-cost services.