Clancy Yeates

Clancy Yeates

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

AOFM brushes off 'sub-prime' claims

AFR FIRST USE ONLY.  new housing estate at PEMULWUY near prospect in western sydney. generic housing , development , residential , rental , mortgage , building , builders , economy , for sale , real estate , land , rates , investment  Photo by ROB HOMER SPECIAL 103506

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.

Australian directors top the pay day

executive pay

Clancy Yeates Australian company directors collect more than double their colleagues in Japan

Experts warn of mining drag

Eminent economists say the mining boom will become a drag on the economy as soon as early 2014.

Clancy Yeates The mining boom will become a big drag on the economy within the next two years, say eminent economists.

Mining boom seen as future drag on economy

Mining boom

Clancy Yeates By early 2014 falling terms of trade are likely to be a "substantial deflationary force", two economists argue.

Rate cut on cards as mining prices sink

Canberra: David Peever Managing Director of Rio Tinto speaks?at the Minerals Council of Australia dinner at Parliament House tonight, Wednesday 30 May 2012..? Photo by Penny Bradfield.11.jpg

Peter Martin, Clancy Yeates THE government's official forecaster has taken the axe to its iron ore and coal outlook, predicting the first slide in mining income since the global financial crisis.

Forecaster rains on Forrest's parade with weak iron ore outlook

Iron ore still in demand: Rio Tinto Australia Chief David Peever.

Clancy Yeates Peter Martin THE federal government's official forecaster holds out no hope for a strong bounce in the price of iron ore, which it expects to fetch $US101 a tonne next year, compared with Fortescue's prediction...

Minister predicts more mining job cuts

Martin Ferguson

Clancy Yeates Resources Minister Martin Ferguson says the drop in commodity prices is likely to spark further job losses in mining as unprofitable operations are closed down.

Joint Australian, NZ currency rejected

Top economic think tanks on both sides have rejected the idea of an Australia - New Zealand joint currency.

Clancy Yeates A curency union between Australia and New Zealand has been rejected by top economic think tanks in both countries.

World's central banks shout: Aussie, Aussie, Aussie!

Up to 23 central banks from around the globe have included Australian dollar assets in their foreign exchange reserves.

Clancy Yeates Up to 23 central banks from around the globe have included Australian dollar assets in their foreign exchange reserves, underlining the wide appeal the currency holds among overseas investors.

Clancy Yeates

Economy is better off with digital disruption

Clancy Yeates

Clancy Yeates There's a certain irony in the mad rush by retailers to exploit the new iPhone launch.

Small-business owners targeted in crackdown

The ATO is taking a tougher stance on small businesses that may not be financially viable.

Clancy Yeates The Tax Office is taking a tougher stance on small businesses that may not be financially viable.

'Good behaviour' at core of governor's tenure

Pedestrians walk past the Reserve Bank of Australia

Clancy Yeates FEW institutions enjoy a position quite as lofty as that held by the Reserve Bank.

Heat on Stevens but Swan at ease

Reserve Bank of Australia Governor Glenn Stevens

Phillip Coorey, Clancy Yeates, Gareth Hutchens THE federal government has expressed full confidence in the Reserve Bank governor, Glenn Stevens, as calls grow for a judicial inquiry into allegations that subsidiary companies of the bank bribed...

Regulator may win power to fire foreign bank boards during crisis


Clancy Yeates The banking regulator could gain the power to sack the boards of foreign-owned banks operating in Australia, under sweeping new proposals.

Proposal gives regulator control of foreign banks

photo Louie Douvis

Clancy Yeates The banking regulator would gain the power to sack the boards of foreign-owned banks operating in Australia in times of crisis, under sweeping new proposals released by the government.

High bankers' pay linked with risk, says regulator

150812 - Commonwealth Bank CEO Ian Narev at a media briefing after anouncing the full year profit results of 7 billion dollars. SMH BUSINESS Photo: Domino Postiglione

Clancy Yeates APRA steps up efforts to sway boards on executive pay and residential lending.

Regulator presses banks over risk-taking

Clancy Yeates The banking regulator has stepped up its bid to sway boards over executive pay and residential lending practices.

Time for some ridgy-digital good news

Laptop. generic computer, technology, wi fi, wireless, internet. 18 August 2006 AFR Photo Louie Douvis   AFR FIRST USE ONLY SPECIALX 56079

Clancy Yeates Almost a third of the economy will be effected by a digital 'big bang' over the next three years.