$0 bank balance horror in Westpac crash
Thousands of Westpac customers were left stranded after the major bank reported an outage.
Westpac
Top Westpac lawyer to join PwC as general counsel
Battling continued fallout from the tax leaks scandal, PwC has employed its new top lawyer to join the firm.
Aussies warned to brace for more rate pain
A finance expert has urged Australians to be prepared for interest rates to rise again in the near future, as the country battles a worsening cost of living crisis.
Lower productivity ‘could be an illusion’
The slump in Australia’s labour productivity since the pandemic is unlikely to last, according to Westpac’s Luci Ellis.
Lendlease hit by protest vote
The property giant’s top ranks are under pressure after a near-40 per cent first strike against its pay report as they try to turn around in a tough environment.
RBA triggers ‘penny-pinching’ Christmas
An austere festive season looms for retailers as Westpac’s monthly sentiment survey reveals four in 10 households plan to spend less on gifts than last year.
ASX rises; AusSuper lifts Origin stake
Super giant has 16.5 per cent of Origin. CBA’s $2.5bn 1Q cash profit flat but beats estimates. Goodman avoids second strike. Telstra CEO says network reliability a priority.
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.
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.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/9