Is Market Forces becoming a spent force?
Market Forces’ declining impact at major AGMs shows big investors are switching to exerting pressure in ways that bring the economy along for the green ride.
Westpac
ASX drops to four-week low; tech stocks slide
ASX suffers broad losses amid EU rate jitters; Aurizon jumps on East Coast sale; Mineral Resources moves on Norwest; Chris Bowen slams Santos chief and coal miners gain.
Franking credit, capital raising reforms ‘a disaster’
Westpac will ask the federal government to spell out what its proposed changes to capital raisings and franking credits mean for the banking industry.
McFarlane exit not the end of Westpac’s rebuild
Westpac is still a long way from being an outperformer but this was never going to be achieved in under three years.
Westpac sets succession hunt in motion
Westpac chairman John McFarlane’s looming retirement has sparked a search for his successor, as the incumbent conceded more needed to be done to lift performance and cut costs.
ASX gains 0.7pc; St Barbara soars, Endeavour dives
Tech sector leads rally; Genesis tie-up drives St Barbara; energy bosses confront PM; higher Magellan directors fees pass and Endeavour drops on Woolworths sale.
Equity raising possible next option for jilted Tyro
Questions are being raised as to whether an equity raising will be on the cards for Tyro Payments.
Tyro faces investor anger after rejecting bid
Tyro Payments faces an investor revolt after the group dismissed a sweetened takeover bid from Potentia Capital and Westpac walked away from takeover talks.
ASX falls 0.5pc; Tyro, Origin hammered
Utilities lead broad falls as investors dump Origin Energy; Tyro dives as takeover talks end; Woodside gains on oil rally and St Barbara to merge with Genesis.
ASX snaps losing streak; iron ore miners rally
ASX ends the week down despite Friday’s gain; iron ore rises above $US110; NSW fast tracks Santos’ Narrabri project; Star cops $100m fine and suitors eye Clough.
Big banks quietly testing new branches with no tellers
Westpac and ANZ have provided more detail about plans for branches as they carefully craft strategies to cut numbers while keeping customer angst at bay.
Westpac pours $44m into cashback app ShopBack
Westpac has taken a stake in an online shopping rewards operator as it looks to boost customer engagement and attract a younger demographic.
The Australian’s CEO Survey 2022: Tabcorp to Xero
Westpac’s Peter King says bank customers are ‘generally well placed’ to deal with slower economic growth. Virgin Australia’s Jayne Hrdlicka says travel is booming.
Big delay likely on Westpac’s Tyro buy
Westpac could take up to a year to buy Tyro Payments after carrying out due diligence on the Eftpos terminal payments business.
ASX drops 0.5pc; banks pass on RBA rate hike
Interest rate sensitive stocks lead ASX. CBA the only bank to yet pass on the 25bp RBA hike; ANZ tips more rate rises to come; coal miners pace gains and Clough collapse ‘a shock’ to CEO.
Blues reveal stunning $8m new sponsorship deal
The NSWRL has secured a stunning naming rights sponsorship package, with Westpac replacing Brydens Lawyers on the front of the NSW Blues’ jerseys.
No sunny outlook for Aussie property prices
Westpac’s latest report on Australia’s housing isn’t cheery reading, but the pain is unevenly spread, with our biggest states hurting the most.
Westpac closer to Tyro deal as second suitor turns up
Westpac sees benefits of acquiring Tyro Payments to secure additional customers.
Thodey quits as Tyro chair as Westpac circles
David Thodey follows former boss Robbie Cooke out the door, just weeks after Westpac confirmed it was in early talks to buy the payments company.
Westpac may delay sale of wealth management
Westpac could hit pause on the sale of its wealth management business and recommence once conditions improve.
Big banks to pay out to 1 million Aussies
Up to one million customers could be eligible for compensation in a huge win against three of the big four banks.
CBA, Westpac, ANZ settle class actions for $126m
Up to one million borrowers will now be eligible to receive compensation after the trio settled without admitting liability.
Fixed-rate maturity a step not a cliff, says Westpac
Westpac’s consumer and business banking boss expects there is more of a mortgage step than a cliff confronting fixed-rate borrowers navigating sharp rate increases.
Shoppers plan to rein it in for Xmas
Four in 10 households plan to cut back on Christmas spending, with more than one in three Australians saying the federal budget worsened their financial outlook.
Westpac’s earnings, new cost target under spotlight
Mixed analysts’ reaction to Westpac’s annual earnings results amid concern over whether it would meet its revised cost target.
ASX ends higher; Webuild rescues partner Clough
Treasury maintains CPI forecast. Sims shares tank on earnings warning. Business confidence, consumer sentiment lower, surveys find. Magellan shares recover. Whitehaven stocks tumble.
Westpac on hunt for acquisitions
Westpac has turned its attention to potential acquisitions, including listed group Tyro, as it starts to again focus on future growth levers following a divestment spree.
Westpac CEO’s credibility tarnished over cost stumble
Big four bank boss Peter King has become the highest-profile casualty so far of runaway inflation.
‘Inevitable’: Bank’s grim warning on rates
One of the big four banks has warned it’s inevitable some borrowers coming off fixed rate mortgages will be hit hard over the coming months.
I watch job numbers over house prices: Westpac CEO
The bank’s boss is adamant a sharp decline in home values will only pose a material risk to the economy and the banking sector if it is accompanied by a large spike in the jobless rate.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/13