Clancy Yeates

Clancy Yeates

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

Exit fee ban shaves $157m off banks' income

AFR SPECIAL REPORT Piggy bank with money pouring out of it. generic savings, superannuation, fees, banking.  Thursday 10 November 2005 AFR photo Louie Douvis SPECIALX 44138
piggy bank /  broken bank / coins / hole in savings / pig

Clancy Yeates The Reserve Bank says the government’s ban on exit fees has played a key role in driving a $157 million fall in banks’ fee income from home loans.

Commissions to be regulated

The Senate has approved sweeping reforms for the financial advice industry.

Clancy Yeates FInancial advisers will be banned from pocketing commissions and forced to act in their clients' best interests.

Consumers to win from adviser reforms: Shorten

Reforms on financial advice are now before Parliament.

Clancy Yeates Consumers will get a better deal from financial advisers after sweeping reforms passed the Senate today, financial services minister Bill Shorten says.

Rates put big squeeze on small business

More interest rate cuts likely (Thumbnail)

Clancy Yeates Small-business customers have received the least benefit from the latest cycle of interest-rate cuts, new figures show, despite moves by the major banks to target the SME market.

Mining jobs balance out the losses in construction

Mining.

Clancy Yeates THE mining industry has leapt ahead of other parts of the economy to become one of the biggest sources of jobs, hiring an extra 58,100 workers in the year to May.

Mining now third-largest source of new jobs

mining

Clancy Yeates Mining was the third-biggest source of new jobs in the year to May, with new figures showing employment in the sector surged by more than a quarter.

Banks take 10 days to pass on rate cuts, seven days to pass on rate rises

banks

Clancy Yeates, Georgia Wilkins and Eric Johnston Big banks have rushed to pass on Reserve Bank interest rate rises, but dragged their feet in lowering rates in response to official cuts, sparking claims they are profiting from the delays.

Big four dance to own rates tune

Banks

Clancy Yeates, Georgia Wilkins and Eric Johnston BIG banks have rushed to pass on Reserve Bank interest rate rises but dragged their feet in lowering their rates in response to official cuts, sparking claims they are profiting from the delays.

Miners, makers take gloomy views

Engineering

Clancy Yeates The collapse in global confidence last month took a hefty toll on business conditions.

Business conditions slump despite rate cut

The number of transactions launched globally in the March quarter slumped 34 per cent below that for the first quarter of 2011.

Clancy Yeates Business conditions have slumped to a three-year low, dragged down by a sharp deterioration in the mining industry, NAB’s business survey says.

More buyers turn to non-bank loans

Mortgage mortgages home loan loans lending property money cash saving photo illustration
SHD INVESTOR Illo by STAFF
(NO CAPTION INFORMATION PROVIDED)

Clancy Yeates The number of people taking out home loans with non-bank lenders is creeping up.

Yo-yo of confidence unstrung from facts

Glenn Stevens, governor of the Reserve Bank of Australia, is seen on a camera viewfinder as he speaks at an event in Sydney, Australia, on Monday, May 28, 2012. China's economic data have been

Clancy Yeates It's enough to make you feel dizzy. Even by the fickle standards of financial markets, investors are enduring a particularly wild ride at the moment.

Yo-yoing markets' latest trick leaves dizzy investors dangling

yoyo

Clancy Yeates It's enough to make you feel dizzy. Even by the fickle standards of financial markets, investors are enduring a particularly wild ride at the moment.

High costs 'threaten resource projects'

Clancy Yeates Investment CHIEF executives have slammed the rising cost of doing business in Australia - from the price of a cup of coffee to the expense of building a multibillion-dollar resources project.

Executives blast costs of doing the job

Clancy Yeates Chief executives have slammed the rising cost of doing business in Australia.

Low dollar to aid healthcare

Generic scenes at Sonic Healthcare head office Macquarie Park, Sydney.

Clancy Yeates Healthcare companies with big foreign operations are tipped to be the biggest winners from the dumping of the Australian dollar over the past month.

Foreign investors pull out

Financial-Services

Clancy Yeates Foreign governments are among investors threatening to pull the plug on $1 billion in planned investment, in response to the government doubling a key tax on overseas capital.

Banks to face pressure again on rates

Banks upping rates 'prioritises shareholders' (Thumbnail)

Eric Johnston, Clancy Yeates Australian banks will be again under pressure to hold back any mortgage rate cuts if the Reserve Bank lowers the official cash rate, with funding costs again on the rise.

Costs spiral at Westpac

Costs are spiralling at Westpac.

Clancy Yeates Westpac says its funding costs are continuing to rise, setting the scene for another potential tussle over mortgage rates.

Company layoffs left and right, yet jobless rate is down. What gives?

Latest casualties: Hastie Group workers were laid off this week.

Clancy Yeates There are a few ailing trees, but the forest seems in remarkably good nick.