By Byron Kaye SYDNEY (Reuters) – Australia’s Westpac Banking Corp (AX:) came under mounting pressure on Wednesday to refresh it board after a money-laundering scandal claimed its chief executive and chairman. Proxy adviser CGI Glass Lewis recommended shareholders vote against director Peter Marriott at the annual general meeting on Dec.Read More →
By Byron Kaye and Nikhil Nainan (Reuters) – Australia’s Westpac Banking Corp (AX:) was accused on Wednesday of 23 million breaches of anti-money laundering rules, with a regulator saying the financial giant enabled payments from “high risk” countries and convicted child sex offenders. The oversight failure at Australia’s second-largest bankRead More →
© Reuters. Australia’s Wesfarmers says 6,000 staff were underpaid $10 million (Reuters) – Australian retail conglomerate Wesfarmers Ltd (AX:) said on Tuesday that about 6,000 current and former employees at its industrials and safety business were underpaid about A$15 million ($10 million) since 2010. Wesfarmers said during the testing ofRead More →
By Paulina Duran SYDNEY (Reuters) – Australia’s AMP Ltd (AX:) has lost at least one major pension contract while other companies are reviewing their relationship with the wealth manager, which has struggled to stem a client exodus following revelations of serious misconduct. Two sources told Reuters that grocery wholesaler andRead More →
(Reuters) – Westpac Banking Corp (AX:) said on Friday it has received a class action filed by law firm Slater & Gordon against its units BT Funds Management and Westpac Life Insurance Services in relation to a pension investment option. “The damages sought by the claim are unspecified,” Westpac saidRead More →
© Reuters. Investing.com – Asian markets were mostly lower in morning trade on Thursday. Although not a major directional driver, the U.S. Federal Reserve’s July 30-31 meeting released overnight received some focus. The Minutes showed that officials saw the central bank’s rate cut last month as measures taken amid theRead More →
© Reuters. FILE PHOTO – People use Commonwealth Bank of Australia (CBA) bank ATMs in Sydney SYDNEY (Reuters) – Australia’s corporate regulator is interviewing top executives at the Commonwealth Bank of Australia as part of an investigation into alleged failure to prevent possible money laundering, the Australian Financial Review (AFR)Read More →
© Reuters. FILE PHOTO: A man banks at a Commonwealth Bank automatic teller machine in Sydney, Australia By Byron Kaye and Paulina Duran SYDNEY (Reuters) – Australia’s biggest bank has for years generated blockbuster profits by focusing on retail customers and home mortgages while its competitors sought to build exposureRead More →
© Reuters. FILE PHOTO: A solar array, a linked collection of solar panels, can be seen in front of a residential apartment block in the Sydney suburb of Chatswood By Sonali Paul MELBOURNE (Reuters) – Australia’s wind and solar boom looks set to power through 2019 following a record year,Read More →
