ASX up 0.3pc; Cannon-Brookes fresh AGL buy-up
ASX climbs as energy and utility stocks bounce. Lynas Rare Earths and MinRes rally, Brambles ends worst performer, Cannon-Brookes buys more AGL shares and ANZ tips 40bps June hike.
Westpac
Hartzer and Fagg reunite for a baby boomer bank
The former major bank executives are launching a lender that they say will help homeowners access equity to help their children buy their first properties.
Lowball bids roll in as Westpac ramps up platform sale
The banking major prepares to start next round of platform business sale even as some offers – of as low as $1.2bn – underwhelmed the bank.
Ground Breakers: Getting runaway coal prices back on leash
The coal price has been like a runaway train since mid 2021, but a Westpac senior economist expects a correction by the end of the year.
Can Westpac shrink to greatness?
Westpac’s Peter King believes the turning point is near as he tries to reinvent Australia’s oldest bank into a leaner, modern, more responsive lender.
Bank profits near pre-Covid levels but outlook cloudy
Top four banks’ profit jumps close to pre-Covid levels, led by strong lending demand but the outlook is uncertain amid more rate hikes.
Rates already hitting housing: Westpac
The housing market is already adjusting to rising interest-rate expectations, according to Westpac boss Peter King.
ASX falls 1.2pc; Goodman, Magellan drop
ASX drops to eight-week low led by falls in real estate and tech stocks. Magellan dives on Guzman y Gomez sale, iron ore miners shed on futures fall and Westpac rises on result.
Three-way battle for Westpac’s Panorama unit
The three key trade buyers battling it out for Westpac’s wealth management unit are believed to be Colonial First State, AMP and Macquarie Group.
Banks move to lift deposit rates
The Commonwealth Bank has bumped up its term deposit rates amid expectations of more rate rises to come, as Westpac, NAB and ANZ all move to lift savings rates.
Watch for a bigger hike in June: Westpac’s Evans
Westpac’s chief economist expects the RBA to ‘front load’ its tightening cycle to get inflation back to within its target range.
Forum figure knew nothing about alleged $300m fraud
Vincenzo Tesoriero files his defence to Westpac’s case, claiming he knew nothing about fraud and any funds he received were returns on investments.
NAB joins big banks in hiking rates
Economists are warning of more mortgage stress and house price falls as a consequence of the cash rate rise.
Eastern suburbs stoush over Morgan mansion
Residents of one of Sydney’s wealthiest neighbourhoods are readying for a stoush with ex-Westpac boss David Morgan over plans to develop a lavish deep waterfront mansion.
House prices set for ‘earlier, sharper’ correction
Rapid interest rate rises by the central bank are set to drive a peak-to-trough fall of 14 per cent, Westpac forecasts.
AMP in race for Westpac platform
AMP is eyeing a major expansion of its investment platform unit by lodging an offer in the $1bn-plus auction for Westpac’s business.
Westpac fined $40m over fees for dead customers
The bank had charged 11,000 dead customers over $10m worth of advice fees over a decade.
ASX down 1.6% as techs and resources slump
ASX closes 1.6 per cent lower at 7473.3 as mining and tech stocks sink. Westpac, Trivago hit with fines. Megaport tanks. Zip cut over earnings uncertainty. CapVest fails to block BGH.
Westpac taps into hunger for super
Westpac wants to tap into an insatiable appetite for growth by superannuation funds and has whittled down a buyer list for its super unit.
Westpac fined $12m for overcharging ‘distressed’ customers
The Federal Court found Westpac and its subsidiary St George overcharged interest rates on customers’ credit cards for several years.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/24