Westpac algorithm to scan for scams in real time
The banking major will add ‘friction’ to its digital payment processes in an Australian banking first that seeks to protect customers and itself against fraud.
Westpac
Westpac’s $1.8bn profit misses analyst expectations
The banking major’s net interest margins rose during the third quarter, but costs hurt the bottom line, while loan quality deteriorated slightly amidst aggressive rate hikes.
ASX falls; China disappoints; Iress tanks
Adairs, A2M dive on weak outlook. China rate cut less than expected. Premier lifts on CEO Richard Murray’s shock exit, review. Qantas, Star slapped with court actions.
Westpac raises house price forecasts
Westpac has jumped on the bandwagon and is forecasting rising house prices for 2023 as the interest rate environment improves and demand outstrips supply.
ASX 200 ends down 0.2pc; health care weakest
TPG Capital cuts bid price for InVoCare. Iron ore chaos if China cuts steel production, Goldman Sachs warns. Fortescue in court over Aboriginal compensation. Bain, Estia Health sign takeover deal. Westpac ups house price growth.
Economists revise their forecasts as RBA slows rates
Market pricing of more rate rises has shrunk to about 15 basis points but Westpac’s Bill Evans says there has been a ‘somewhat confusing’ signal from the RBA’s assessment of inflation.
Aussie bank’s gamechanging new move
Australians wanting to break free from streaming services will be given even greater freedom with a new banking feature,
CBA swings jobs axe in retail services and IT
Commonwealth Bank is facing criticism after announcing it will cut over 250 roles in its consumer and business banking departments.
Art of war: ‘I’m not the right type of Aborigine’
Brenda Croft, one of the nation’s most senior arts academics, says her removal from a ‘toothless’ government probe into the APY Arts Centre Collective was a ‘stitch-up’.
I’m not going anywhere: Westpac CEO
A top level executive shake-up has stoked succession talk, but Westpac boss Peter King declares he has more to do. ‘I’m here, and I’ve got plenty to do’.
Westpac restructures to split banking division
Westpac is splitting its consumer and business banking unit to ‘sharpen’ the bank’s focus and drive growth.
Westpac’s internal succession battle takes shape
It’s back to the future for Westpac’s Jason Yetton, who has been given a second chance to prove he can become a big four bank CEO.
ASX rises; Westpac to overhaul ops
Rio down as iron operations track stability. Fortescue shares fall on ratings cut. Ampol lifts despite earnings decline. Northern Star tanks.
Banks ‘failing’ on human rights complaints over Santos
Market Forces says banks such as CBA, NAB, and Westpac have refused to engage with a human rights complaint over their funding of gas company Santos.
Allianz shakes up corporate structure
The company is preparing to overhaul its corporate structure by transferring all of its insurance operations, including a former Westpac business, into its main operating entity.
Aussies dine out as cooling CPI lifts sentiment
Falling inflation has contributed to a slight rebound in the number of Australians feeling confident about the economy.
ASX soars 1.5pc in best day since January
Bourse snaps four-day losing streak as China looks to stimulate its struggling economy. Megaport rockets on earnings upgrade. Westpac consumer sentiment lifts.
Ellis exit points to more change coming for RBA
The shock move to Westpac by the top RBA official comes at a critical time for the central bank.
Westpac pulls off coup in hiring RBA’s Ellis
Outgoing Westpac chief economist Bill Evans expects the Reserve Bank to deliver two more interest rate hikes to get inflation back to target levels within a reasonable timeframe.
ASX drops 0.5pc to three-month low
Bourse ends at its lowest level since late March as China producer prices dive. Ardent Leisure soars on revenue surge. Tabcorp falls on possible gambling ad changes.
Funds freeze for ‘white hands’ APY arts centre
Westpac and Arts SA have put funding on ice pending a wide-ranging investigation into the embattled Indigenous collective.
Major bank’s new cash rule for Aussies
A major bank’s decision to enforce lower default cash withdrawal limits comes after a survey found 72 per cent of Australians were found to be ‘low cash users’.
Westpac axes BT sale after long process
The banking major has been unable to find a buyer for BT Panorama after touting the wealth manager to a number of parties in a search for a $600m buyer.
ASX ends win streak; falls 0.6pc on miners
The bourse’s best winning streak since April has ended. Rex dives after earnings downgrade. TPG falls following Telstra deal rejection. CBA drops refinance threshold.
Aussie banks targeted in NZ probe
New Zealand’s competition watchdog will investigate personal banking services profits dominated by Australian majors, CBA, NAB, ANZ and Westpac.
Westpac attracts $3.6bn from bond investors
The big four bank is tapping the bond market to repay another bond set to mature this week.
Two rate rises and a possible hard landing: Westpac’s Evans
Westpac’s chief economist expects the RBA’s terminal rate will be 4.6 per cent and there won’t be any cuts until next May at the earliest.
Westpac takes the axe to 500 jobs
Westpac has cut more than 500 jobs in the past fortnight across mortgage operations, relationship banking and commercial banking, a union officials say.
ASX up for fifth day; rises 1.8pc for week
Westpac forecasts ‘insipid growth’, cash rate peak of 4.6pc. AGL to more than double profit in FY24. Bank of Japan holds rates steady. Mineral Resources makes gas discovery.
Big bank‘s $750 offer to customer group
One of the big four banks has offered to fill up customers’ cars for free if they take out a loan with them.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/9