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 royal commission would hurt banks cba ceo
royal commission would hurt banks: cba ceo

CBA CEO Ian Narev says a royal commission into the banking sector could make it more difficult to raise funds necessary to create jobs in the wider economy. Commonwealth Bank chief executive Ian Narev says a royal commission into the banking sector would undermine confidence in the industry and damage lenders' ability to raise funds that support job creation.Mr Narev told a parliamentary hearing on Tuesday that a royal commission could make it more difficult for banks to borrow the money they then loan out to "create the economic activity that will create jobs"."The message that the convening of a royal commission would send about policymakers over the last decade, regulators over the last decade, bank management and governments over the past decade would not be positive for the industry,

royal commission hears children not asked about immigration safety for report

A hearing has been told the panel that wrote a report about the safety of children in immigration detention did not speak to any children beforehand. A child protection panel did not interview any children before making recommendations about child safety in immigration detention, a royal commission has heard.Panelist Margaret Allison said neither she nor her two colleagues had recent experience interviewing children and they did not want to further traumatise the victims."We didn't talk to any children, except incidentally, as we walked through detention centres," she told the Royal Commission into Institutional Responses to Child Sexual Abuse on Monday."We were very actively engaged with the people who were providing services directly to those children and reasonably satisfied that they w

royal commission hears children not asked about immigration safety for report

A hearing has been told the panel that wrote a report about the safety of children in immigration detention did not speak to any children beforehand. A child protection panel did not interview any children before making recommendations about child safety in immigration detention, a royal commission has heard.Panelist Margaret Allison said neither she nor her two colleagues had recent experience interviewing children and they did not want to further traumatise the victims."We didn't talk to any children, except incidentally, as we walked through detention centres," she told the Royal Commission into Institutional Responses to Child Sexual Abuse on Monday."We were very actively engaged with the people who were providing services directly to those children and reasonably satisfied that they w

royal commission hears children not asked about immigration safety for report

A hearing has been told the panel that wrote a report about the safety of children in immigration detention did not speak to any children beforehand. A child protection panel did not interview any children before making recommendations about child safety in immigration detention, a royal commission has heard.Panelist Margaret Allison said neither she nor her two colleagues had recent experience interviewing children and they did not want to further traumatise the victims."We didn't talk to any children, except incidentally, as we walked through detention centres," she told the Royal Commission into Institutional Responses to Child Sexual Abuse on Monday."We were very actively engaged with the people who were providing services directly to those children and reasonably satisfied that they w

europeans press for americans to lose visa-free status to eu

Brussels: The European Parliament has called for Americans to be forced to apply for visas before visiting Europe, stepping up pressure to resolve a long-running transatlantic dispute.The European Commission stressed on Thursday it was pursuing a diplomatic resolution to the row in  a move that could hurt Europe's tourism sector.
Imposing visa requirements on Americans could hurt tourism in Europe. Photo: Getty ImagesWashington refuses to grant visa-free access to people from four east European states - former Communist countries Poland, Croatia, Bulgaria and Romania - as well as Cyprus, while those from the other 23 member states can enter using the US visa-waiver program. EU rules call for equal treatment for all EU citizens.Commission officials noted a planned EU-US ministerial meetin

asic foreshadows action against other banks over lending practices

Westpac may not be the only bank in crosshairs over its home loan lending after Australia's corporate regulator said it was in talks with other banks over with further announcements due "in coming weeks".The Australian Securities and Investments Commission appeared before the Economics Legislation Committee in Canberra today where foreshadowed possible action against other banks over their lending practices.Chinese billionaires gain most from Trump effectVideo duration02:39Previous slideNext slideVideo duration03:35Inside the banks' rubbery earnings reportsInside the banks' rubbery earnings reportsBloomberg Gadfly Columnist David Fickling reports on discrepancies in Australian banks' earnings reports.Chinese billionaires gain most from Trump effectVideo duration02:39Video duration02:39Chin

apple pay gets bank approvals in taiwan ahead of launch

Following earlier reports that Apple was eyeing Taiwan for its next Apple Pay launch, Focus Taiwan published that at least seven banks in the country have gained necessary government authorizations to begin supporting the service.Best iPhone, iPad, & Apple TV game controllersAccording to the report, regulators in the country from the Financial Supervisory Commission (FSC) over the weekend confirmed they’ve granted the first round of approvals to banks for Apple Pay. Among the banks are “Taipei Fubon Commercial Bank, Cathay United Bank, E. Sun Commercial Bank, Taishin International Bank, CTBC Bank, First Commercial Bank, and Union Bank of Taiwan.”Earlier this year Apple confirmed that Taiwan would be one of its next launch countries with a number of partners listed including Cathay United B

your money: don't worry about banks' fee on cash transactions

Decoding cash withdrawal fee: Banks want to keep you away from branchesBusiness StandardIf deposits and withdrawals cross this limit, the bank will charge Rs 5 for every Rs 1,000Tinesh Bhasin  March 3, 2017 Last Updated at 09:08 ISThttp://mybs.in/2UU6ue7

banks have been battered since 2015 | business

The three-week holiday forced upon Greek banks in July 2015, after the capital controls were imposed on June 28, has been the credit sector’s main event to date since the outbreak of the economic crisis. This ongoing situation, a festering wound for banks, which mainly affects the return of deposits, is clearly reflected in stock prices.Two days before the so-called bank holiday and the imposition of capital controls, the banks index at Athinon Avenue had closed at 13,175.20 points. The index has since suffered a loss of 93.9 percent.The picture is negative in the first couple of months of this year alone, as the capitalization of the four systemic banks has dropped from 8.42 billion euros at the end of December to 7.77 billion: a loss of 653 million euros in the stock value of Alpha, Nati

azealia banks fails to appear in court, judge issues warrant for her arrest

A judge issued a bench warrant for Azealia Banks' arrest after the rapper failed to appear in court on Monday (March 6) for a hearing related to a 2015 incident where she was accused of attacking a female security guard at a New York nightclub, including punching and biting the guard's breast.According to Page Six, her lawyer appeared in Manhattan Criminal Court and relayed the message, “I can be back tomorrow if the court needs it," from Banks, which caused the judge to issue the bench warrant.Her entertainment lawyer told Pitchfork in a separate statement that Banks confused the court dates. "Azealia Banks mistakenly believed she had a court appearance on March 8th instead of March 6th," the lawyer wrote. "She was in France for Fashion week due to meetings and other social gatherings and

bank staff threaten to go on strike tomorrow

Operations at public sector banks may be hit on Tuesday as most unions, under the aegis of the UFBU, have threatened to go on strike, pressing for various demands.Most banks, including SBI, PNB and BoB, have kept their customers informed about the same. The functioning of private banks is expected to be normal, but clearance of cheques may be delayed.The United Forum of Bank Unions is an umbrella body of nine unions, but two of the Bharatiya Mazdoor Sangh affiliates — National Organisation of Bank Workers and National Organisation of Bank Officers — are not part of the strike.The conciliation meeting with the chief labour commissioner failed to break the logjam as the bank management, represented by the Indian Banks Association, did not agree to the demands, said All India Bank Employees’

asic foreshadows action against other banks over lending practices

Westpac may not be the only bank in cross-hairs over lax home loan lending after Australia's corporate regulator said it was speaking with other banks and flagged more announcements due "in coming weeks".The Australian Securities and Investments Commission appeared before the Senate economics legislation committee in Canberra on Thursday where it said it was also scrutinising the lending practices of other banks.Listed investment company skulduggeryVideo duration02:25Previous slideNext slideVideo duration01:08ASIC takes aim at the banksASIC takes aim at the banksASIC chairman Greg Medcraft tells the Economics Legislation Committee bank culture is still an issue that needs to be addressed.Listed investment company skulduggeryVideo duration02:25Video duration02:25Listed investment company sk

is the catholic church guilty of crimes against humanity?

The Catholic Church, which has presided over a decades-long international cover-up of countless cases, perhaps hundreds of thousands, of child rape and other sexual abuse is arguably guilty of crimes against humanity.In Australia, the Royal Commission into Institutional Responses to Child Sexual Abuse, launched in 2013, has heard much harrowing evidence that for decades child rapists have been protected by the hierarchy of the Catholic Church. Only a few days ago, the Archbishop of Sydney, Anthony Fisher, told the commission the response of leaders of his church to allegations of child sexual abuse amounted to "criminal negligence".
Former St Patrick's College student Peter Blenkiron at St Patrick's College in Ballarat. Photo: Simon O'DwyerAnd although it beggars belief, such despicable

forget the banks – health insurance makes them look like amateurs

More Australian than hot summers and bagging cricket selectors is the habit of criticising the Big Four banks' "outrageous" profits.Forget the banks, they're relative amateurs. If you want outrage, check out the private health insurance rip-off as demonstrated by NIB and Medibank.What is Wedshed?Video duration00:28Previous slideNext slideVideo duration02:34Forget banks, your health insurance is a ...Forget banks, your health insurance is a rip-offThe utter gall of NIB in boasting about ripping off the public makes the banks look nice.What is Wedshed?Video duration00:28Video duration00:28What is Wedshed?What is Wedshed?Working in a similar fashion to Airbnb, WedShed helps link unique venues available to hire for weddings with couples looking to find a special place to tie the knot. Penalty

your money: don't worry about banks' fee on cash transactions

TRENDING ON BS You are here: Home » PF » News » OthersYour money: How to safeguard yourself against phishing or malware attacksBusiness StandardCustomers can transact up to Rs 2 lakh in a month at their home branch for freeTinesh Bhasin  March 3, 2017 Last Updated at 00:09 ISTYour Money: Don't worry about banks' fee on cash transactions">
http://mybs.in/2UU6ue7
Photo: Shutterstock

android pay now supports 31 additional us banks

In order to expand Android Pay in the US, Google has to get as many banks as possible on board. The company has been doing a great job so far, as its popular mobile payment service works with hundreds of banks already.According to the Android Pay support page, this number has recently increased. The payment service now works with 31 additional US banks, which brings the total number to over 600. You can see the list of the newly added participating banks below.See also:Android Pay vs Apple Pay vs Samsung Pay OverviewApril 27, 2016Alcoa Pittsburgh Federal Credit UnionAmerica’s First FCU (Visa)Bank of American ForkBank of Eastman/Magnolia State BankBank of WashingtonCarolina FCUCentral National BankCitizens Commerce National BankCommunity Financial Credit UnionCredit Union of ColoradoDay Air

banks forgive 2.5 bln euros of corporate npls in 2016 | business

THURSDAY MARCH 2, 2017
BUSINESS | Greek EditionClassifiedsSubscriptionsFAVORITESNo favoritesTwitterFacebookTerm
 BUSINESS
22:05
Banks forgive 2.5 bln euros of corporate NPLs in 2016YIANNIS PAPADOYIANNISTAGS:Banking, EconomyGreek banks wrote off nonperforming loans totaling 2.5 billion euros last year, a new record, while senior bank officials say that this year write-offs will rise even higher, exceeding 3 billion, making cancellations one of the credit sector’s main weapons in its ongoing battle to reduce the amount of bad loans in its portfolios.According to their commitments to the eurozone’s Single Supervisory Mechanism, local lenders will have to reduce their nonperforming credit exposure from 108 billion euros today to 65 billion at the end of 2019. This target of a 43 percen

banks forgive 2.5 bln euros of corporate npls in 2016 | business

Greek banks wrote off nonperforming loans totaling 2.5 billion euros last year, a new record, while senior bank officials say that this year write-offs will rise even higher, exceeding 3 billion, making cancellations one of the credit sector’s main weapons in its ongoing battle to reduce the amount of bad loans in its portfolios.According to their commitments to the eurozone’s Single Supervisory Mechanism, local lenders will have to reduce their nonperforming credit exposure from 108 billion euros today to 65 billion at the end of 2019. This target of a 43 percent reduction is quite ambitious.The banks’ planning provides for about half of that reduction to come in the form of write-offs, 30 percent through loan restructuring and the rest by way of selling bad loans to third parties.Senior

catholic archbishop promises a listening tour with victims of sexual abuse

The Catholic Archbishop of Canberra and Goulburn has promised a "listening tour" to meet victims of child sexual abuse and their families as part of a healing mission in the lead-up to Easter.In his lenten message, Christopher Prowse again apologised and condemned past crimes.
Catholic Archdiocese of Canberra-Goulburn Archbishop Christopher Prowse. Photo: Royal commissionArchbishop Prowse also acknowledged his own failings and pledged to focus on the care of victims and prevention of further abuse.His message referred to Royal Commission revelations that since 1950 in the Archdiocese there were 43 complaints against 16 priests and 36 against 21 lay people."Structures and policies are now in place in the Archdiocese to ensure that the scourge of sex abuse does not continue in our communit

exclusive: apple pay to launch in ireland tomorrow with support from at least tw

Apple will launch its mobile payment platform Apple Pay in Ireland tomorrow we have learned from two separate sources with knowledge of the matter. The move comes as we’re also expecting a launch sooner rather than later in Taiwan. Apple Pay allows users to complete transactions in-person, online, and in-app with their iPhone, iPad, Apple Watch, or Mac.In Ireland, Apple Pay will be supported by UlsterBank and KBC, both of which are multinational and have supported Apple Pay in other countries for some time now.  Bank of Ireland and AIB are the biggest banks in Ireland with the latter supporting Android Pay. We could not confirm Apple Pay will be supported at these banks at launch or any of Ireland’s other banks.Cork, Ireland is Apple’s European Headquarters and the company is involved in s

bank strike likely on feb 28, may dent services

The conciliation meeting before the chief labour commissioner on February 21 failed to break the logjam as the bank management represented by the Indian Banks Association did not agree to demands and put conditions, All India Bank Employees' Association (AIBEA) General Secretary C H Venkatachalam told PTI. All attempts to find solutions to the demands raised by the unions yielded no results and hence, UFBU decided to proceed with the proposed strike on February 28, he said.Unions are also opposed to the proposed labour reforms of the government and outsourcing of permanent jobs in the banking sector. Some of the demands include compensation of employees and officers for extra hours of work put in following demonetisation in November and early initiation of process of next wage revision of

govt asks banks to reconsider cash transaction charges

The government on Monday asked India’s largest public sector lender State Bank of India and private sector banks to reconsider the charges they have decided to impose on cash transactions above a certain limit.Some private banks, including HDFC Bank, ICICI Bank and Axis Bank, have started charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.Public sector Oriental Bank of Commerce has also followed suit, but SBI has made its intent clear that it will charge Rs 50 beyond three free transactions.The banks have also said that they would resume the levy on ATM transactions beyond a limit.DH had on Friday reported Finance Minister Arun Jaitley as saying that he would nudge banks to reconsider their decision.The government

govt may nudge bankers to delay decision on transaction charges

The government may nudge bankers to wait for sometime before imposing a fee on cash transactions beyond a certain limit. Some private sector banks have informed their customers that they will impose transaction charges after four or five transactions.“We will talk to banking management. I do not think any public sector bank has resorted to the move so far,” Finance Minister Arun Jaitley has said.Though the government has not issued any directive to public sector banks, government-owned banks, too, will resort to the practice from April 1.The country’s largest public sector lender, State Bank of India, said that it has already levied Rs 50 beyond three transactions, and will renew the same from April 1. The Oriental Bank of Commerce, however, resorted to the practice from March 1.Withdrawal

vijay mallya questions change of bench in sc

Beleaguered industrialist and defunct Kingfisher Airlines' promoter Vijay Mallya on Monday questioned in the Supreme Court transferring of a contempt case filed by banks' consortium from one bench to another.“The matter was part heard. The previous bench is very much available,” senior advocate C S Vaidyanathan, appearing for Mallya, wondered before a bench of Justices Adarsh Kumar Goel and U U Lalit.The contempt application as well as a plea by SBI led banks' consortium for recovery of Rs 9,400 crore loaned to Mallya, now living in the UK, and his airlines were being heard by a bench of Justices Kurian Joseph and R F Nariman.When Mallya's counsel raised objection, the bench said, “The matter is now listed before us. There must be some order by the Chief Justice of India (as he is the mast

child bride survivor eman sharobeem has assets frozen by nsw crime commission

Eman Sharobeem's life story reads like an inspiring tale of overcoming the odds: forced into an arranged marriage to her first cousin as a teenager, then widowed at 29 with two young sons, having endured a violent 14-year marriage.After emigrating from Egypt, she gained PhDs in Psychology, Management and Organisational Leadership, rising to become chief executive of the Immigrant Women's Health Service and earning a list of community honours for her work giving a voice to the underprivileged.
Former child bride and activist Dr Eman Sharobeem has had her assets frozen by the NSW Crime Commission. Photo: Sahlan HayesBut now the prominent women's refugee advocate, domestic violence campaigner and Australian of the Year finalist has had her assets frozen by the powerful NSW Crime Commission

child bride survivor eman sharobeem has assets frozen by nsw crime commission

Eman Sharobeem's life story reads like an inspiring tale of overcoming the odds: forced into an arranged marriage to her first cousin as a teenager, then widowed at 29 with two young sons, having endured a violent 14-year marriage.After emigrating from Egypt, she gained PhDs in Psychology, Management and Organisational Leadership, rising to become chief executive of the Immigrant Women's Health Service and earning a list of community honours for her work giving a voice to the underprivileged.
Former child bride and activist Dr Eman Sharobeem has had her assets frozen by the NSW Crime Commission. Photo: Sahlan HayesBut now the prominent women's refugee advocate, domestic violence campaigner and Australian of the Year finalist has had her assets frozen by the powerful NSW Crime Commission

doubts take 2-bln-euro bite out of bank deposits | business

Deposits in Greek banks recorded losses of 2 billion euros in the year to the end of last week, with the decline putting an end to the growth registered in the latter half of last year. Crucially, if the contraction continues it will undermine any prospects of a gradually easing of the capital controls anytime soon.According to data gathered by Kathimerini, deposits at Greek banks added up to 129.8 billion euros on February 24, against 131.8 billion at end-December 2016. This concerns household, business and general government deposits at the four systemic banks (Alpha, National, Eurobank and Piraeus) and the three non-systemic banks (Attica, Aegean Baltic Bank and Investment Bank).If that total is added to the balance at cooperative lenders, the sum comes to 131.6 billion, down from 133.7

wife vs wife in amethi's battle royale

With the fight over inheritance of royal property between two ‘queens’ —both wives of Congress Rajya Sabha member and scion of erstwhile Amethi royal family Sanjay Singh — extending into the electoral arena, Amethi is witnessing a battle royale.And caught in the midst of the royal clash in the Assembly segment, which falls in the Lok Sabha constituency of Congress vice president Rahul Gandhi, is none other than controversial state minister Gayatri Prasad Prajapati.Prajapati was recently in the news after being booked in a rape case on directions from the Supreme Court. For people in the Amethi Assembly constituency, especially those loyal to Bhupati Bhavan, the sprawling royal palace, it appears to be a choice between their ‘Raja’ Sanjay Singh’s estranged first wife and BJP nominee Garima

lse – deutsche borse merger 'unlikely' after brussels demands

The European Commission is "unlikely" to approve the long-anticipated merger between the London Stock Exchange (LSE) and its German equivalent, Deutsche Boerse, because of competition concerns, says the LSE in a statement today.The LSE says the Commission "unexpectedly raised new concerns" about the £21bn (€24bn) merger just two weeks ago, giving it until today to respond. It was an "eleventh hour demand", says the Daily Telegraph. The Commission wanted the LSE to sell off its key Italian electronic bond trading platform MTS before the merger. It's a stricture that's "disproportionate" and impractical, says the LSE, and likely to be detrimental to its business. The LSE says MTS plays a "systematically important" role in the trading of securities including Italian government bonds, adding:

abn amro, ing in top three of best performing european banks

Photo: Wikimedia CommonsBased on return on equity (ROE), ABN Amro and ING are second and third on the list of the best performing banks in Europe, the Financieele Dagblad reported on Friday.With a low ROE, a bank is in trouble, analysts and big investors claim. And usually the bank is inefficient, has high loan losses, is in the wrong markets or a combination of all three, the FD said.In 2016, only a handful of large European banks had a ROE of more than 10%. Both ABN Amro and ING have a ROE of around 12% and the best performer in Europe is  Belgium’s KBC at 18%.ING has been high on the list for some time, while ABN Amro is a newcomer largely because of its merger with Fortis Nederland in 2010, the FD pointed out.ABN Amro had a large mortgage portfolio and many clients from the Dutch small

toddler pulled from water at cowes on phillip island

A toddler has been flown to hospital in Melbourne after being pulled from the ocean at Cowes on Phillip Island on Saturday.Ambulance Victoria spokesman John Mullen said the boy was rescued shortly before 6.30pm.
A toddler was flown to the Royal Children's Hospital after being pulled from the water at Cowes. Photo: Dave Langley"We were called to a possible drowning in the bay at Cowes," he said."The boy was pulled from the water and CPR was performed."Then he was stabilised and airlifted to the Royal Children's Hospital in a serious but stable condition."

trump's tweet on obama hurt global equity markets; us dollar gains

Reuters  | 
New York  March 7, 2017 Last Updated at 04:47 IST

trump's congress address: merit-based immigration will hurt several us cos

Jordan TamaGreg WrightJ.B. Silvers | The Conversation  March 1, 2017 Last Updated at 12:02 IST

presstv-france calls for normal banking ties with iran

France has called for “normalization” of banking ties with Iran to improve economic relations between the two countries.French Economy Minister Michel Sapin said relations between Iran and France have considerably developed over the past few months, adding:”Financial circuits however need to be normalized. It’s our aim, our will-even if it can’t be done in a day.”Spain  made the statements after meeting his Iranian counterpart Ali Tayebnia in Tehran."We can't work on developing our economic relations if we don't also normalize our banking relations," he said.The French official then added that trust must be built "to allow companies - if they so wish - to have financing channels that are safe and efficient."French and other European companies have returned to Iran since the signing of the 

shareholder equity in slater and gordon wiped out with latest loss

The value of all shareholder investments in the listed legal group Slater and Gordon has effectively been wiped out with the group disclosing another round of heavy losses as its auditors also warned the group faces "material uncertainties" over its survival.The company's losses reached $1.3 billion as of the end of December, which exceeds the $1.1 billion of equity on the balance sheet.Asia's trawler fishing wars reach AustraliaVideo duration00:58Previous slideNext slideVideo duration00:26ASIC investigating Slater & GordonASIC investigating Slater & GordonThe corporate watchdog is investigating whether the law firm deliberately falsified or manipulated financial records and accounts. Video courtesy ABC News 24.Asia's trawler fishing wars reach AustraliaVideo duration00:58Video duration00:

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