Australia’s Westpac flags $950 mln profit hit, led by institutional banking
SYDNEY, Oct 12 (Reuters) – Australia’s Westpac Banking Corp (WBC.AX) said on Tuesday it will take a one-off charge of $956 million against its second-half profit mainly due to a weaker earnings outlook at its institutional banking unit as well as remediation charges. The country’s second-largest lender by market capitalization said a protracted period of low rates, […]
Westpac exits life insurance with $660 mln sale to Japan’s Dai-ichi
Westpac Banking Corp (WBC.AX) on Monday became the latest Australian firm to retreat from the life insurance sector, as it agreed to an A$900 million ($660 million) sale of its domestic unit to Japan’s Dai-ichi Life Holdings (8750.T).
Australia’s Afterpay to launch banking app in October
Afterpay Ltd (APT.AX) will launch its banking app in October to widen its offerings beyond buy now, pay later (BNPL) services for its 3.5 million-plus Australian users as competition intensifies, the company said on Tuesday.
Australia’s cbank tapers QE but affirms low rates outlook
Australia’s central bank on Tuesday took its first step towards tempering its massive stimulus as employment proves far stronger than previously expected, although actual rate hikes remain a distant prospect.
Dollar drives higher as traders look to Fed clues from U.S. jobs data
The dollar clung to recent gains on Wednesday as virus woes raised concerns in a market already on edge ahead of U.S. jobs data seen as crucial to the Federal Reserve’s monetary policy outlook.
Dollar catches breath as traders await Powell testimony
The dollar paused for breath on Tuesday as traders looked to testimony from U.S. Federal Reserve chair Jerome Powell for guidance, after a surprise shift in the central bank’s policy outlook, while cyptocurrencies nursed heavy losses.
Dollar loses some steam after Fed boost; bitcoin tumbles
The dollar dipped on Monday against major currencies, but broadly held most of the previous week’s gains after the Fed’s surprise hawkish tilt.
Australia’s NAB reveals anti-money laundering probe, shares fall
National Australia Bank (NAB.AX) said on Monday it is under investigation for suspected serious and ongoing breaches of anti-money laundering and counter-terrorism laws, sparking concerns about potential fines and higher compliance costs.
