FEAR & GREED | Business News ANZ governance slammed; BHP liable for dam disaster; new native bee discovered
Nov 16, 2025
An independent review reveals serious governance issues at ANZ, echoing past criticisms from the Banking Royal Commission. BHP is held legally responsible for a major environmental disaster in Brazil. The Coalition introduces a technology-neutral energy strategy focused on gas. Trump cuts beef tariffs, raising concerns for Australian graziers. Additionally, a new native bee species, named Megachile lucifer, is discovered, boasting unique horns that catch scientists' attention.
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ANZ Culture Failings Exposed
- ANZ's McKinsey review found an insular culture where staff avoided delivering bad news and failed to prioritise non-financial risk.
- The report links complacency and poor leadership to repeated failures similar to past banking scandals.
Act Now With New Leadership
- Use leadership change as the moment to implement wide-scale cultural reform and fix risks.
- Nuno Matos should capitalise on his new CEO mandate to correct governance and training gaps quickly.
Poor Timing Damages Transparency
- ANZ timed the report release late on a Friday and made access difficult, which undermines transparency.
- Sean Aylmer suggests that appearing to hide the report damages trust in the bank's response.