Small businesses riding the bumps, says Westpac
Westpac’s head of business banking says small businesses have been resilient in the face of the Optus outage and rising interest rates.
Westpac
Farmers warn bank over land clearing policy
Westpac is the first major Australian bank to prohibit lending to dairy, beef and sheep farms involved in deforestation. Farmers have described it as a ‘seminal moment’ for the industry.
Westpac to dump PwC as auditor after 55 years
The banking major will boot the accounting and advisory group as its long-term external auditor, opening a tender for a new accountant that explicitly excludes the scandal-ridden firm.
ASX up; Optus reboots; pay hit at Magellan
Telstra shares jump, Optus parent Singtel falls. First strike against Magellan. ACCC takes fresh swipe at Qantas. PwC cuts 338 jobs. James Hardie’s record earnings.
Sceptical analysts downgrade Westpac earnings
Brokers aren’t convinced by Westpac’s plan to restructure and remove duplicated processes, 15 years after integrating St George’s systems, and have downgraded their expectations.
RBA hikes rates; bank falls hit ASX
Cash rate at 12-year high of 4.35 per cent. Brookfield-EIG may launch hostile Origin bid; advisory group ISS backs offer. Westpac falls.
Westpac pioneers zero-deforestation commitment
The nation’s second-largest lender has set a zero-deforestation target for loans to beef, dairy and sheep farmers.
Westpac CEO warns of ‘higher-for-longer’ inflation, rates
Peter King says Australia is at risk of prolonged inflation and high interest rates due to housing and green investment demands.
King finally confronts Westpac’s tech demons
A huge effort is needed to untangle the tech mess that has been slowing the bank down and making it hard to manage. It won’t be easy.
ASX 200 lifts; Westpac, Origin gain
AustralianSuper ‘solidifying’ Origin stake at more than 15 per cent. Independent expert maintains Origin bid is fair. Westpac’s profit soars, dividend up amid buyback. Magellan down on outflows.
Tighter labour markets require nimbleness
Can Australia hold onto the gains we have made in getting unemployment down? And can we achieve full employment?
Westpac flags $173m hit to profit
The banking giant, led by Peter King, flags a hit to its annual profit due to customer provisions, restructuring costs and writedowns.
ASX at year low; Scyne returns 78 PwC staff
Bourse at year low. PwC spin-off hit by slump in new work. Billionaire miner Rinehart likely buying up Azure after SQM’s $1.6bn bid. First strikes at Woolworths, Whitehaven and APA. Luci Ellis tips Nov rate rise.
The message behind Westpac’s surprising new chair pick
John McFarlane has a trademark capacity to surprise, and this extends to his replacement to oversee the banking major.
Westpac picks Ampol’s Gregg as new chair
Former investment banker Steven Gregg will take over as chairman of Westpac at the end of the year, succeeding John McFarlane.
ASX 200 down; Treasury Wine gets first strike
Protest vote lodged against winemaker’s remuneration. Qantas down as oil prices jump, loyalty boss quits. Fletcher plunges on Iplex claims. Liontown hit with downgrades as Albemarle walks away.
Leading Libs rebut ‘misinformation’
Senior Liberal frontbenchers have hit back at Anthony Albanese’s claim misinformation was undermining the voice referendum amid dwindling support for the government’s proposal.
State Libs ‘sorry’ for voice postal vote mistake
The WA Liberals have been forced to tell constituents that postal vote applications returned before referendum writs were issued are invalid.
Big four banks’ $7m Yes donation revealed
The size of the major banks’ donations has triggered Coalition claims that the case for change ‘is being made by our elites, for our elites’.
Westpac to keep Pacific banks amid new opportunities
The banking major, led by Peter King, will ramp up its presence in the Pacific amid growth opportunities after abandoning its sale plans.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/10