Today
Airwallex’s Jack Zhang: ‘Going public is optional for us’
It’s under fire over 15-hour days and concerns about its Beijing connections, but the payments company is on a roll.
- Michael Bailey
September
- Opinion
- Bonds
Cracks in the US banking system deepen as bond yields climb
As soaring interest rates create growing stress in the US banking sector, the country’s biggest banks are pushing back against proposed new rules requiring them to hold fatter capital buffers.
- Karen Maley
- Analysis
- Cryptocurrencies
How digital cash got caught up in the culture wars
Plans for central bank digital currencies are gaining momentum around the world — and so are conspiracy theories.
- Siddharth Venkataramakrishnan
August
Why Yellow Corp’s collapse makes a good MBA case study
The threat of strike action was the last straw for a company that was slow to consolidate a series of acquisitions as the debts mounted.
- Matthew Cranston
Non-bank borrowers at the pointy end of mortgage stress
“You are seeing more stress than what you are certainly at the major banks,” APRA chairman John Lonsdale said.
- Lucas Baird
US banks’ loan losses hit $29b on rate pain
Credit card and commercial real estate customers are driving ‘charge-offs’ to their highest level in more than three years.
- Joshua Franklin and Stephen Gandel
July
- Opinion
- Australian economy
Migrants are keeping recession at bay
It is difficult to have a deep downturn when immigration is strong, investors are cautious, and debt is in safe hands.
- Richard Yetsenga
SiteMinder surges 20pc as profit is in sight
The company expects to enter the black in the second half of this financial year, following strong revenue growth and a cut in spending.
- Tess Bennett
June
Big US banks would lose $820b in doomsday scenario, predicts Fed
Annual stress tests show lenders with more than enough capital to weather economic catastrophe.
- Joshua Franklin, Stephen Gandel and Colby Smith
IMF warns higher inflation is here for longer
The need to resolve financial vulnerabilities may take precedence over meeting price growth targets, says the International Monetary Fund’s Gita Gopinath.
- Martin Arnold
Powell faces tricky task of explaining rate pause in Congress
The Fed chairman will be fresh off the June meeting, where he and his colleagues left rates unchanged but signalled they may deliver two more rises this year.
- Catarina Saraiva, Steven T. Dennis and Laura Litvan
‘The golden handcuffs are pretty real’: Tech struggles with job losses
There is an industry-wide feeling that setbacks such as widespread layoffs, the collapse of crypto and the Silicon Valley Bank failure are deflating Silicon Valley’s balloon.
- Ellen Huet
UBS seals Credit Suisse takeover to create bank titan
The Swiss bank announced the closing of the deal in an open letter in local and international newspapers, ending the lender’s 167-year existence.
- Marion Halftermeyer
Economists predict at least two more US rate rises to quell inflation
Experts polled by the FT say Fed will need to take tougher action than markets expect to cool economy. They see the benchmark rising to at least 5.5 per cent this year.
- Updated
- Colby Smith and Sam Learner
May
Powell: rates may not need to rise as far as we thought
The credit crunch expected in the aftermath of recent bank failures may limit how much the US central bank will need to raise its benchmark interest rates.
- Colby Smith
Investors predict ‘imminent’ US high-yield bond sell-off
The Fed’s quarterly Senior Loan Officer Opinion Survey last week showed that 46 per cent of US banks plan to raise their lending standards due to worries about loan losses and deposit flight.
- Mary McDougall
Jamie Dimon says US needs to ‘finish’ the banking crisis
The JPMorgan Chase boss took a swipe at US regulators amid the chaos of the banking crisis that has already seen four banks go bust and another on the brink.
- Jennifer Surane and Francine Lacqua
- Opinion
- Federal Reserve
How we can avoid a third phase of banking turmoil
Conditions have stabilised but more must be done to prevent further banking tremors. The US Federal Reserve has the power and the tools to do the job.
- Mohamed El-Erian
- Analysis
- Risk management
What one law firm saw on the eve of the SVB collapse
Panicked multimillion-dollar companies were sending Rick Giovannelli emails asking if they should withdraw their money and send to their CEO’s personal bank accounts.
- Matthew Cranston
Fed warns of credit crunch risk after US bank turmoil
The chance of a credit crunch was cited among the biggest current risks to the financial system, rather than the Fed’s most likely scenario.
- James Politi, Joshua Franklin and Brooke Masters
