Good afternoon,

The Australian Prudential Regulation Authority has waded into a looming scandal over ANZ’s markets team , imposing an extra $250m penalty due to concerns about persistent risk governance and culture issues.

Meanwhile, voluntary administrators have been appointed to battery maker Redflow - a move which raises questions about the viability of the federal government’s Future Made in Australia policy.

And our writer, Anthony Keane, takes a hard look at the euphemistically named "loyalty tax" of sticking with your utilities and other providers, which unnecessarily costs Australians thousands of dollars each year.