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The Australian - The Australian Business Review AM
| | | | | | Dow Jones | 24681.61 | +2.06% | | S&P 500 | 2662.65 | +1.63% | | Nasdaq | 6989.71 | +1.69% | | Brent Crude | $63.16 | +0.59% | | AUD/USD | 78.41c | +0.52% | | Iron Ore | $76.55 | 0.0% | | SPI Futures Index | 11517 | +27 | | | |
| Good morning readers. Here’s what is shaping today’s business landscape: The head of the financial services royal commission has laid down the law to the big banks on the inquiry’s opening day. APRA boss Wayne Byres is working on the key competitive issue for the big banks, his responses to Basel’s risk weightings reform, writes John Durie. Western Australia’s longest mine strike is over after workers agreed to a 20pc pay cut. Want to read more? Click here and join the ranks of informed Australians with a great introductory deal: Just 50c a day for the first 12 weeks gets you full access to The Australian website and apps, The Australian Plus member benefits program, and full digital access to The Wall Street Journal. What to watch for: Keep up with the latest business developments in our live blog, Trading Day. Who said: “I wanted to be a star, not a gallery mascot.” | | | Banks miss first downpayment | | Ben Butler | | Two banks earned the wrath of financial services royal commissioner Kenneth Hayne on the inquiry’s opening day. |
| | | Will Glasgow, Christine Lacy | | Investors continue to flee founder, 26 per cent shareholder and Lionel Richie fan John McGrath’s real estate outfit, | | | | Byres prepares Basel response | | John Durie | | APRA boss Wayne Byres is working on the key competitive issue for the big banks, his responses to Basel’s risk weightings reform. |
| | | Mobile threat adds to NBN pain | | Supratim Adhikari | | NBN Co boss Bill Morrow has conceded the company will miss its long-term revenue target of $52 per user. |
| | | Exports to fall: Aurizon | | Matt Chambers | | Aurizon’s customers say the monopoly railway owner needs to follow regulatory process, not disrupt exports. |
| | | Eli Greenblat | | JB Hi-Fi has paid a steep price for not meeting investors’ high-growth expectations. | | | | | ANDREW WHITE | | Amcor is pushing through price increases to recover raw material cost hikes. |
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