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The Latest Breaking News from Matt Comyn

Australia's CBA flags surging AI costs as tasks grow complex, slams 'work slop'

Commonwealth Bank of Australia CEO Matt Comyn said businesses globally are likely to tighten ‌scrutiny of artificial ⁠intelligence-related ⁠spending through 2026 as adoption accelerates and pressure mounts to demonstrate returns on investment.

The Economic Times

Sam Altman and Dario Amodei are both walking back their AI jobs apocalypse prophecies as they eye blockbuster IPOs

Goldman's David Solomon and Box’s Aaron Levie have been saying that there won’t be a white-collar wipeout. Altman says he's "delighted to be wrong."

Fortune

CBA shares suffer biggest drop ever after earnings miss

Australia's largest bank turned a smaller-than-expected quarterly profit of $2.7 billion because it set aside more cash to protect from loans that go bad.

AAP

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Olympic rowers v crocs and currents: no Plan B for site

A state government is sticking by a controversial site slated to host the Olympic rowing in 2032 ahead of an inspection by the sport's world body.

AAP

Household debt at a decade-low: Commonwealth Bank boss

Commonwealth Bank boss Matt Comyn says 87 per cent of its home loan customers are ahead on their repayments.

AAP

Aussie shares soar to three-month highs as miners fly

A banking rally has sent Australian shares to three-month highs, while the Australian dollar hit its own milestone by reaching its highest value in three years.

AAP

AI war against 'one cent' family violence perpetrators

The use of artificial intelligence can be challenging for many Australians, but one major business has found ways to bring good out of the groundbreaking tech.

AAP

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Commonwealth Bank boss reveals preferred migration rate

The boss of Australia's biggest bank has nominated a preferred migration rate while appearing before a parliamentary committee. saying a target is appropriate.

AAP

Big bank boss takes swipe at surcharge ban consequences

As the Reserve Bank considers a ban on credit card surcharges, the head of the nation's biggest bank has warned of "wrong assumptions" about the payments.

AAP

CommBank shares drop despite $2.6b quarterly profit

Australia's biggest company has posted its financial results for the quarter, but despite improving on most metrics, it still looks too dear to most investors.

AAP

Bank admits 'mistake' over worker who lost job to AI

A woman who trained an AI chatbot that took her job has quizzed executives at Australia's biggest bank about how they will stop such a thing happening again.

AAP

CommBank's record $10b profit could've been bigger: CEO

Commonwealth Bank could have delivered a better result than its $10 billion profit if it weren't positioning itself for AI revolution, its boss says.

AAP

'Eye-watering': CBA shares break all-time highs

Commonwealth Bank shares have surged to record levels yet again, but experts say its earnings don't justify the price tag.

AAP

Antisemitism now Asio’s ‘number one priority’, Burgess says – as it happened

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The Guardian - AU

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AAP

CBA seeks to reassure customers at 'challenging time'

Commonwealth Bank CEO Matt Comyn has sought to reassure customers amid trying economic times and says physical cash is "here to stay".

The Guardian - AU

Commonwealth Bank posts $5bn profit as Australian households struggle. Here are four things we learned

While some of its customers are under considerable pressure, CBA is enjoying the fruits of its large mortgage portfolio, half-year financial results show

AAP

Comm Bank hikes dividend as shares hit all-time high

Australia's leading bank has delivered a $5.1 billion first-half cash net profit, in what analysts have called a "gravity-defying rally".

AAP

CBA chair says ethical principles will govern AI use

Commonwealth Bank has the "best, most capable people" working on the use of artificial intelligence in its business, chairman Paul O'Malley says.

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AAP

Plague of our time: banks devoting more to scam fight

Australia's big four banks say they're setting aside more resources to prevent customers being scammed out of their money.

AAP

No cost to taxpayers from bond scandal: ANZ head

There will be consequences across ANZ following the misconduct of employees over bonds, the company's head says.

The Guardian - AU

Business wants pay rises for Australia’s lowest paid workers limited to 2% – but what about executives?

Average pay of top bosses has increased from 17 times average earnings in early 90s to about 55 times now. What about those on minimum wage?

AAP

CBA posts $2.5b in 1Q24 profit as arrears stay low

Australia's biggest bank says there was just a modest increase in late payments in the September quarter, despite the impact of higher interest rates.

AAP

Bank boss tips living costs to ease, defends big profit

Most customers of Australia's biggest bank are well positioned despite a cost of living crisis, its chief says after the company booked a $10.2 billion profit.

AAP

Banks push back on mandates to stay in rural Australia

Increasing branch closures across rural Australia have raised the possibility of forcing banks to operate a minimum number of country outlets.

AAP

Easing global inflation story takes pressure off rates

Moderating inflation around the world could help the Reserve Bank build the case for an extended pause on interest rates.

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