CEOs and their media mouthpieces are hitting back at suggestions that, in a cost-of-living crisis, there could be an acceptable level of profit. Binoy Kampmark reports.
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Extinction Rebellion protested outside the Commonwealth Bank headquarters to demand the bank end its investment in fossil fuel projects, reports AJ Tennant.
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There has been ongoing reporting of individual instances of bank malpractice and occasional reporting of large scale institutionalised malpractice. Reporting of the banking royal commission hearings has quickened the pace. But nobody, including the media, joins the dots: the key financial institutions are structurally given to corrupt practices, writes Evan Jones.
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With calls for a royal commission into the banking sector growing, the argument for a new "people's bank" to challenge the domination of the big banks is gaining strength. A number of recent events have propelled community anger at the "Big Four" — Commonwealth Bank (CBA), NAB, Westpac and ANZ — to the point that a royal commission seems increasingly likely.
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The latest Household, Income and Labour Dynamics in Australia Survey: Selected Findings (HILDA) report shows that the proportion of home ownership has declined in all parts of Australia, with the greatest declines in NSW and Victoria. Thereport, released on July 20, reveals that owning a house is no longer the norm and it is likely that renters will outnumber home-owners in the next few years. -
The Turnbull Coalition government must call a full royal commission into CommInsure, the Commonwealth Bank and the general financial malpractices of the insurance and banking industry immediately. This Coalition government wasted more than $50 million in taxpayers' funds on the royal commission into the union movement, but adamantly refuses to hold a proper inquiry into its big business mates in the major banks. -
Mining giant Adani’s plan for a mega coalmine in Queensland’s Galilee Basin was dealt a near death blow on August 5 when the Federal Court set aside approval for the Carmichael licence. The mine, if built, would be Australia’s largest, exporting up to 60 million tonnes of coal from the Great Barrier Reef coast every year. The federal environment minister gave the $16.5 billion mine and rail project approval in July last year. The current and former Queensland governments have been gung-ho in their support for the mine.
