Today's Top Stories

Feature Stories

  • Cover Story: DISRUPTION AND THE 200-YEAR-OLD START

    Banks are slowly adapting to new technology, but is this progression being driven by the realisation that customers want more than apps and online banking, or by the holistic view being taken by potential competitors? The landscape is undoubtedly mor[more]

  • Cover Story: Making the Customer King

    Stagnating global customer experience levels, combined with an alarming rise in customers willing to leave their banks, could weaken bank-customer relationships and open the door for non-bank competitors.[more]

  • Cover Story: Here Be Monsters

    If the Australian Securities and Investments Commission (ASIC) invited Paul Schulte to deliver a keynote address in order to rock the boat at its annual forum in late March, then the strategist and director of Hong Kong-based Schulte-Research certain[more]

By the Numbers

US$3.8bn Citi reported 3Q net income of US$3.8bn or US$1.23/share, a top line result which was 74 per cent up on the prior corresponding period and 13 up on the last quarter.

From the Back Page

Americans choke on $1 coin stockpile

The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.

American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to  the US government accountability office.

Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.

According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.

 

Comment: AB+F Blog

Two early for reform: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]

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