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
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.
ASX closes up; BHP shares rise, financials fall
Macquarie tips $800m Qantas buyback. Gold miners lead ASX higher. Banks down on Westpac’s profit dip. Snowy 2.0 expansion delays. Simonds tanks on housing woes. Suncorp declines as costs rise. Medibank won’t pay ransom.
Westpac, NAB weathering storm in uncertain climate
The market will scrutinise NAB’s and Westpac’s cost targets as the banks reveal their annual profit this week.
Forum co-accused has companies put into liquidation
Nine companies associated with Vince Tesoriero, an alleged co-conspirator of a major fraud against Westpac, have been placed in the control of McGrathNicol.
Westpac strikes 4pc pay rise deal for 2023
Employees with salaries under $94,000 will receive the full increase, while those above will see their pay rise by a smaller percentage.
Speculation resurfaces Westpac wealth back on AMP’s agenda
The Australian listed financial group AMP is said to be closing in on Westpac’s wealth management unit.
Melbourne Cup rates move: millions look like losing
More than three million households with a mortgage are poised to be losers on Melbourne Cup Day, with Westpac chief economist Bill Evans now predicting a double rate hike.
Bank’s horror interest rate prediction
All four of Australia’s big banks have made grim predictions about interest rates, with the latest anticipating the most dire forecast yet.
ASX gains; Law firm weighs data breach action
The local sharemarket closes higher. Maurice Blackburn monitors Medibank, MyDeal data breach. Credit Suisse reveals $4bn loss. Reserve Bank tipped to hike rates by 50bp. Fortescue books record iron ore shipment.
Westpac inks Post deal as branch closures ramp up
Westpac has joined two of its major rivals in signing a banking deal with Australia Post, leaving ANZ as the outlier, as banks continue to cull branches.
ASX ends higher; Westpac’s $1.3bn profit warning
The sharemarket trims gains as materials soar. China GDP beats expectations. Medibank’s hack alerts to dead customers. Star higher on gaps in repair plan. Vulcan, Novonix top gainers. Tavistock increases AACo board control.
Is Cannon-Brookes an earner? Tyro says no
The software billionaire – and his market followers – have seen little but losses over the last year.
Customers over technology drive interest in Tyro
Westpac has told the market it’s in talks to buy Tyro, but there’s no certainty it will occur.
Big bank makes call on interest rate hike
Westpac has become the last of the big four banks to pass on rate hike pain to its customers, but the bad news comes with a silver lining.
Tyro in sale talks with Westpac, ‘selected parties’
The payments business is in sale talks with Westpac and ‘selected parties’ after rejecting an unsolicited $658m takeover bid from Potentia Capital and HarbourVest.
Tyro confirms bank interest, NAB taps Bank of America
At least two banks are running the ruler over the $800m payment provider Tyro Payments
ASX jumps 1.7pc; tech rockets; St Barbara dives
ASX soars as US futures rally. Tech enjoys biggest gain in four weeks, St Barbara hammered on downgrade, Adbri hits 18-year low and Zenith places Magellan under review.
‘Failures’: ASIC nabs banks, mining giants
Big banks and mining giants are among those caught out by ASIC for “failures” that resulted in a combined total of $230m in penalties.
Cost of living worries weigh on households
Despite the grim picture revealed in Westpac’s latest survey, NAB’s report showed business trading conditions were ‘roaring’ as consumer spending continues to boom.
Forum figure denied bid for extra defence funds
Vincenzo Tesoriero, an alleged co-conspirator in Forum Finance’s fraud against Westpac, has been denied his request for an increase of more than $2m in funds to pay for his defence.
ASX dives 7.3pc for month; tech, bank stocks hit
ASX falls for a third straight week as interest rates continue to worry investors. Carsales dives amid demand fears, gold miners rally, Core Lithium $100m raising and Rex finialises takeover.
Westpac sidesteps union with staff pay offer
Westpac is going direct to its employees with a new pay offer in an attempt to break a deadlock with a key union.
Forum’s Bill Papas pulls soccer team amid financial woes
Alleged Forum Finance fraudster Bill Papas has dramatically pulled his football team from Greek sporting leagues, after financial and cash flow issues.
Westpac moves to block scammers
The banking major will block others using its 94,000 phone numbers in a bid to stamp out scammers cloning its identity to target victims.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/15