Healthcare pushes share market higher
The Australian share market closed higher after strong gains among health stocks but banks were a drag, especially Westpac.
The Australian share market closed higher after strong gains among health stocks but banks were a drag, especially Westpac.
Peter King is prepared to dip into the bank’s capital buffers if the pandemic causes a prolonged recession.
The Attorney-General has put his money where his mouth is over Westpac’s failings, which are about to hit retirees.
Westpac has refrained from issuing a dividend to its shareholders, warning COVID-19 is still causing significant downward pressure on the economy.
Westpac has become the first major bank not to pay an interim dividend as boss Peter King warned of a ‘highly uncertain’ outlook.
Dividends have been a key upside surprise of the August reporting season
Shareholders will hate it, but stuck between COVID-19 and Austrac, Westpac’s board really has only one option this week.
The latest Westpac-Melbourne Institute Index of Consumer Sentiment shows pessimism has plunged due to fears more states than Victoria will suffer a second wave of COVID-19 cases.
Victoria’s second COVID-19 wave battle triggers a collapse in consumer confidence across the east coast.
Australia’s second largest bank has added new protection measure in it branches to curb scamming activity and fraud.
It goes without saying that the man who ran Rio Tinto from 1997 to 2000 wants the company to apologise to local landowners.
Australia’s banks are quietly taking an axe to interest rates paid on savings accounts.
Momentum is building in senior Westpac ranks for the bank to settle a damning case brought by Austrac, by paying a record $1.5bn penalty.
Westpac believes stage four lockdowns in Melbourne will plunge the Victorian economy to levels below the initial lockdown in March.
Westpac’s general insurance operation is expected to be the first major asset in its portfolio of non-core assets to be placed on the block, according to sources.
Senior Westpac executives rushed to ‘crisis manage’ scathing comments by Attorney-General Christian Porter.
Westpac will bring 1000 support jobs back to Australia from overseas to meet a surge in customer demand for help due to the COVID-19 crisis.
Westpac will bring 1000 jobs back to Australian shores after admitting its overseas operations have been “too slow” during the coronavirus pandemic.
Bank shares jump as regulator eases its April clampdown, but APRA says banks should keep dividend payout ratios to below 50pc.
Attorney-General Christian Porter has launched a stinging attack on Westpac and its new chairman, John McFarlane, over their dealings with the financial crimes regulator.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/44