ASX Announcements
Update - Notification of buy-back - WBC
Daily Share Buy-Back Notice
Update - Notification of buy-back - WBC
Daily Share Buy-Back Notice
Update - Notification of buy-back - WBC
Daily Share Buy-Back Notice
Update - Notification of buy-back - WBC
Daily Share Buy-Back Notice
Update - Notification of buy-back - WBC
Daily Share Buy-Back Notice
Today
Wellbeing claims stall productivity: Stokes
One of the nation’s major employers, Ryan Stokes, says worker abuse of compensation claims for mental health must be tackled at the economic roundtable.
McKinsey’s productivity north star meets pragmatism of Westpac, Stokes
The corporate sector is moving beyond endlessly defining the problem and starting to stitch together a starting point for Australia’s big productivity fix.
Yesterday
Westpac, ANZ and Bendigo Bank to refund $60 million in unfair fees
ASIC investigated four banks for charging vulnerable customers unfair fees. Three banks are repaying them $60 million, but one major lender is holding out.
This Month
Big bank stocks have a week from hell as CBA slide nears 10pc
Is the gloss finally coming off? Fund managers have long expected a gravity-defying rally to reverse but do not expect shares to fall too far, investors warn.
From Seek to Wesfarmers, major audits up for grabs as firms circle
Some of the market’s most lucrative and long-held contracts are being fought over as professional services rivals try to nab millions of dollars in new work.
Yoga, isolation or a ‘shadow’ board? How economists predict RBA calls
The art of forecasting what the central bank will do with interest rates is a difficult one and, it turns out, everyone has a different approach.
KPMG CEO activates his sleeper agents
Andrew Yates’ audit division is on a hot streak. Former KPMG operatives keep showing up at the board table.
NAB chief’s drinking a joke at staff Q&A
Andrew Irvine was asked for a resolution at a staff town hall last year.
Viridian using ‘no dickheads’ scale to rate financial advisers
The advisory will likely be snatched by US private equity shop TA Associates. Will the firm’s innovative pay characterisations survive the acquisition?
CBA teams up with JP Morgan for blockchain-led funding market trials
The lender is one of three major banks to sign on to the RBA’s trial of a central bank digital currency and settlement systems that could speed up transactions.
Fundies could face fee threat if super funds rethink equities mandates
Carving out CBA and other bank shares from industry funds’ active, fee-paying mandates means they cannot be underweight the ASX’s largest financial stocks, writes Joyce Moullakis.
Mortgage brokers’ growing power puts big banks on notice
Major lenders face an uphill battle to win back market share from the industry, which is now arranging about three-quarters of Australia’s residential loans.
Banks say borrowers aren’t reducing home loan repayments as rates fall
Three major lenders say only one in 10 customers are asking to pay less, a blow to retailers who have hoped the RBA’s moves would stimulate sluggish spending.
Will the real Reserve Bank governor please stand up
The RBA will almost certainly cut interest rates on Tuesday. But we don’t know which version of Michele Bullock will appear to explain the decision.
Carolyn McCann firms as Miller’s pick to run Westpac’s retail bank
The bank’s long-serving customer and corporate affairs chief is a frontrunner to permanently lead the major division after the departure of Jason Yetton.
June
The ASX’s bumper year makes for bullish investors (despite the chaos)
The local sharemarket has closed 10 per cent higher for the year, its best performance since the pandemic rebound in 2021. Fund managers are hoping for more.
TA Associates swoops on stake in ex-Westpac advice business Viridian
It spells a payday for Melbourne’s Viridian Advisory, which shot to prominence six years ago when it acquired Westpac’s advice books in the royal commission’s aftermath.
ANZ cut to ‘sell’ as brokers darken on big four banks
UBS is the latest broker to slap a sell rating on a major Australian bank, telling clients to avoid the cheapest major lender at current levels.
Environmentalists accuse major banks of financing deforestation
The Australian Conservation Foundation said it used satellite imagery and land titles to connect properties where loans had been made and suspected clearing had occurred.
Simon Birmingham named chief executive of Australian Banking Association
The former senior Coalition government minister will take over from Anna Bligh, who has run the powerful lobby group for more than eight years.