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Today's Lead Article

Formula behind CBA's record $700m penalty revealed

AFR  | 07 Jun 2018 | News

The formula that led to Commonwealth Bank's record-breaking $700 million settlement with AUSTRAC has been revealed with the bulk of the penalty being sheeted back to its failure to conduct due diligence on customers or properly assess the risks posed by its high-tech ATM network.


Leading Stories

Australian media are in decline. The Fourth Estate reminds us why we need them

The Guardian  | 17 Jul 2018 | News

The scene is the New York Times newsroom. The paper’s executive editor, Dean Baquet, is watching the Trump inauguration on television. “Wow,” he murmurs. “What a story. What a fucking story. OK, let’s go.”

Covering the reporters covering Donald Trump, The Fourth Estate is a documentary filmed inside the New York Times over a 16-month period. Over four episodes we see how much the Trump presidency has accelerated the news cycle. The reporters


Royal commission prepares for super industry showdown

Adele Ferguson  | 10 Jul 2018 | News

As the royal commission prepares for a showdown with the $2.6 trillion superannuation industry on August 6, it has assigned a team to trawl through submissions, meet key players and comb various reports including the Productivity Commission's landmark draft report into super.


India named the most dangerous country in the world for women

Kelly Hughes  | 04 Jul 2018 | News

India has been named the most dangerous country in the world for women. War-torn countries including Afghanistan and Syria were ranked second and third, followed by Somalia and Saudi Arabia, in a survey conducted by global experts from the Thomson Reuters Foundation.


Telstra to axe 8,000 jobs

The Age  | 20 Jun 2018 | News

Telstra CEO Andy Penn has announced a drastic plan to cut costs at the struggling carrier, including a reduction of 8,000 jobs from its workforce, about a quarter of its total headcount.

 


PwC sent anonymous #metoo report

AFR  | 20 Jun 2018 | News

The letter arrived without warning in the mailboxes of almost two dozen senior partners of PwC Australia, including chief executive Luke Sayers, late last year.


'Desperate people do desperate things': loan fraud alleged at giant

Adele Ferguson | 07 Jun 2018 | News

The crisis at Mortgage Choice is deepening with documents emerging that show almost half its brokers are considered "low performers" for failing to meet the loan giant's controversial sales targets.


'A very unusual case': Ombudsman appears before royal commission

The Age  | 28 May 2018 | BankingRC

Systemic problems with the approach taken by the Financial Ombudsman Service (FOS) when dealing with disputes were revealed before the royal commission on Monday.


Banking on a culture of reform

Kelly Hughes  | 10 May 2018 | BankingRC

hindspeechThe bell can’t be unrung for the Australian banking and financial institutions. The revelations from the Banking Royal Commission detail the horrors of a deeply entrenched and systemic culture of dishonesty within the country’s biggest financial sector.

 


Budget 2018: Tax cuts for 10 million workers

David Crowe | 08 May 2018 | News

A tax cut for 10 million workers will start on July 1 under a Turnbull government plan to win back middle Australia and prepare for an election, setting up an immediate test in Parliament over income tax reform that will cost an extraordinary $140 billion over a decade.


AMP chair Catherine Brenner resigns

The Guardian  | 30 Apr 2018 | BankingRC

The chair of financial services giant AMP, Catherine Brenner, has resigned from her $660,00-a-year role, the latest casualty from the unfolding scandals uncovered by the banking royal commission.


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