Clancy Yeates

Clancy Yeates

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

NAB staff told to face US court

Clancy Yeates National Australia Bank staff have been served orders to appear before a New York court.

Regulators urged fee for deposit guarantee

The big four banks.

Clancy Yeates Top banking regulators urged the federal government to consider charging banks a fee in exchange for the taxpayer guarantee on deposits, in a move that could have raised up to $38 billion over 25...

Deficit raises fear of boom end

Australian exports slowing down

Clancy Yeates AUSTRALIA has posted its widest trade deficit since before the global financial crisis, due to a plunge in the nation's most lucrative exports, fanning fears of a premature end to the resource boom.

Watchdog failed to clearly state case against miner

Almost four years before Fortescue sent its first shipload of iron ore to China in 2008, the mining hopeful told investors of 'binding' contracts signed with state-owned Chinese companies to build a railway, port and mine works.

Clancy Yeates A unanimous judgment in Mr Forrest's favour also disagreed with ASIC's interpretation.

High Court ends long row on Fortescue

Billionaire miner Andrew Forrest has been cleared by the High Court of misleading investors and breaking disclosure rules.

Clancy Yeates Billionaire miner Andrew Forrest has been cleared by the High Court of misleading investors and breaking disclosure rules.

Forrest High Court win lifts shadow of disqualification

Mining

Clancy Yeates The High Court has ruled mining billionaire Andrew Forrest and his iron ore company Fortescue Metals Group did not mislead investors.

Pressure on banks to pass on any rate cut in full

Banks will face intense pressure to pass on the full value of any interest rate cut if the Reserve Bank moves the cash rate this week.

Clancy Yeates Banks will face intense pressure to pass on the full rate cut if the RBA moves the cash rate.

Banks better positioned to pass on rate cut

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Clancy Yeates Banks will face intense pressure to pass on any interest rate cut if the RBA moves the cash rate this week, with the big four in a more comfortable position today than when they refused to match...

Clancy Yeates

Department stores lose allure of 'uniqueness'

Clancy Yeates

Clancy Yeates A walk through big shopping strips reveals something peculiar about the 'retail recession'.

Tapping China's vast market for services

Tapping China's vast market for services.

Clancy Yeates Until now, the booming trade between Australia and China has mainly been driven by a cold, shiny material: steel.

Preference is for perks

Big business has thrown into doubt government plans to slash corporate taxes.

Clancy Yeates Big business has thrown into doubt government plans to slash corporate taxes by rejecting all the options to fund the lower rate.

Big business rejects company tax plans

Clancy Yeates Labor’s plan to lower corporate taxes is in turmoil, with big business bluntly rejecting the government’s options for funding a cut in the company tax rate.

Reserve warns banks against chasing 'unrealistic' profit growth

Reserve Bank of Australia.

Clancy Yeates The Reserve Bank has warned banks against trying to hit ''unrealistic'' profit targets through ''indiscriminate'' cost-cutting and weaker lending standards that could sow the seeds of future problems...

Funding pressures on banks easing: RBA

Big four banks

Clancy Yeates Global funding pressures on the big banks are easing, with the cost of raising new debt falling to levels not seen since before the latest outburst of eurozone turmoil, the Reserve Bank says.

LNG tax break cuts 'would hit projects hard'

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Clancy Yeates The booming liquefied natural gas sector says a proposal to cut its tax breaks would make Australia's tax regime for LNG the most uncompetitive in the world, threatening billions in investment and...

Clancy Yeates

Our dazzling dollar's doing its own thing

Interest rates

Clancy Yeates Once referred to as 'shock absorbers', our dollar recently characterised as a villain.

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No risk from sub-prime loans - agency

The government's financing arm has defended its $11 billion investment in the nation's home loan market.

Clancy Yeates The government's financing arm has defended its $11 billion investment in the nation's home loan market.

AOFM brushes off 'sub-prime' claims

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Clancy Yeates Chief executive of government's financing arm denies it invested in "low-doc" loans.

Reserve has a little $500m treat in store for Canberra

CANBERRA, AUSTRALIA - MAY 09:  Wayne Swan Speaks at the post budget address to the Nation at the National Press Club on May 9, 2012 in Canberra, Australia. The budget handed down last night by Swan has forecast a budget surplus of AUD $1.5bn, with a raft of benefits for low to middle income earners, primarily from revenue from a mining tax. Response to the forecast budget was positive from credit raitings agencies, who have indicated they believe Australia will maintain its AAA credit rating.  (Photo by Cole Bennetts/Getty Images)

Clancy Yeates RBA to pay federal government $500 million after the central bank made its first profit in three years.

RBA sends $500m cheque to Canberra

Confidence boost: Markets were surprised by the RBA's decision to cut the cash rate by 50 basis points.

Clancy Yeates The Reserve Bank has delivered its first profit in three years, swinging back into the black with earnings of $1.1 billion in the year to June.