Surprise retail sales figures light fire under consumer stocks A surprise jump in retail sales statistics lit a fire under Australia’s beleaguered discretionary retail stocks on Tuesday, making them some of the best performing companies on the ASX’s best day of the year so far. Gain were enjoyed across the sector as JB Hi-Fi shares […]
Murdoch, Gordon signal move on Ten Ten Network’s billionaire shareholders Lachlan Murdoch and Bruce Gordon have signalled their intention to take over the besieged network, seeking a review of a joint bid from the competition regulator. Mr Murdoch and Mr Gordon, through their respective investment vehicles Illyria and Birketu, have sought an informal review of […]
Stand by for a rough day on the local market with the ASX poised to drop more than 1 per cent on opening, as global markets suddenly lost their appetite for risk overnight. Markets at 7:15am (AEST): ASX SPI 200 futures -1.16pc to 5,710 AUD: 76.81 US cents, 59.05 British pence, 86.15 Japanese yen, 67.12 […]
The government’s levy on Australia’s five biggest banks has passed through federal Parliament. Expected to raise $6.2 billion, it will come into effect on July 1 for ANZ, Westpac, NAB, CBA and Macquarie. But just when it seemed another battle had been fought, if perhaps not completely won, in the ongoing power struggle between banks and government, […]
Australian banks risk being embroiled in misconduct such as the fake bank account scandal that hit Wells Fargo unless sales targets for frontline staff are reformed, says a whistleblower from the US bank. Kilian Colin, a former Wells Fargo banker, played a key role in exposing the scandal in which millions of fake accounts were opened by staff who […]
Tensions between Australia’s big banks and the world’s biggest technology company Apple have ratcheted up after the iPhone maker surprisingly ordered Westpac to remove a key feature of its recently revamped mobile banking application, which let customers make payments in popular chat applications. In a letter to customers, seen by The Australian Financial Review, Westpac reveals […]
