Fines, Pandemic Slash Westpac Profit 66 Percent
Fines, pandemic slash Westpac profit 66 percent
Australia's Westpac Bank Agrees Record Fine For Money-laundering
Australia's Westpac bank agrees record fine for money-laundering
Westpac Half-year Profits Tumble More Than 60%
Westpac half-year profits tumble more than 60%
Australian Pedophiles Find Online Abuse Of Filipino Children Cheaper, Less Risky
For as little as 15 Australian dollars (about US$10 or 500 Philippine Peso), pedophiles in Australia can watch children perform sexual acts online while the abuse is being filmed in the Philippines. Senior officer Andrew Perkins, of the Australian federal police (AFP) team in Manila, told the Guardian Australia that this is an “alarming shift” toward “convenient and low-risk” activity compared to the more common “sex tourism” involving the abuse of children.
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Big Banks In Alliance With Fintechs To Stonewall Rise Of Tech Giants In Finance
Many big banks are striking partnership deals or buying a stake in fintech start-ups. The Sibos financial services conference held in London recently revealed these trends and the reasons behind such partnerships.
China Consumer Sentiment Sputters To Record Low In October, Report Says
China's consumer sentiment plunged in October as households curbed spending, worried by recent discouraging economic data, according to a new survey.
VIDEO Mexico 4-2 New Zealand: Highlights; Peralta Hat-Trick Sends El Tri Cruising Into The World Cup After Second-Leg Win
Three goals from Oribe Peralta sent Mexico on their way to a victory over New Zealand in Wellington to seal their passage to the World Cup.
Asian Shares Slip After Fed-Inspired Rally
Asian shares retreated from four-month highs Tuesday as markets paused from last week's rallies, calculating the impact on growth from the Federal Reserve's aggressive stimulus and eyeing whether Spain will request a bailout to ease its fiscal strains.
Asian Shares Slip On Caution Over Fed Action
Asian shares eased Thursday ahead of the U.S. Federal Reserve's decision later in the day, but investors remained optimistic of further stimulus action to bolster the world's largest economy.
Asian Shares Steady, Awaiting Jackson Hole Meeting
Markets from stocks to currencies were caught in ranges Tuesday as investors waited for a gathering of central bankers and economists at Jackson Hole, Wyo., later in the week for clues over the Federal Reserve's potential easing options.
Asian Shares Retreat On Dim Outlook For Growth, Fed Stimulus
Asian shares retreated from a two-week high Friday on scaled back expectations of more stimulus from the U.S. Federal Reserve and growth concerns after manufacturing surveys from the euro zone and China depicted a bleak outlook.
China, Brazil Ink $30 Billion Currency Swap Deal; Global Yuan In The Cards?
China and Brazil finalized an agreement on Thursday to exchange national currencies worth up to $30 billion as part of bilateral efforts to shore up reserves in times of crisis.
The Pain In Spain: Bankia Bailout, 5 Credit-Rating Downgrades
Spain's Bankia S.A. requested the country's government provide it with a bailout worth ?19 billion ($24 billion) on Friday, the same day Standard & Poor's Ratings Services said it lowered its ratings on five financial institutions based in the Iberian nation.
China Sets Record High Ceiling For Yuan
China's central bank expanded the yuan's reference rate against the dollar to another record high on Friday, in a nod to calls from the U.S. to loosen growth restrictions on the currency's value.
Bank of New York Mellon, Battered By Low Rates and Low Volume, Misses Wall Street Estimates
Bank of New York Mellon (NYSE:BK), a giant of the custody and trust banking sector, said fourth-quarter earnings fell 31 percent. Shares fell after the bank posted earnings 10 cents below consensus estimates.
Australian Banks May be Planning Massive Job Cuts: Report
Almost 60 percent of the money the big banks of Australia spend each year are eaten up by staff costs.
Asian Shares and Euro Dip on Europe Worries
Asian shares and the euro eased Thursday as concerns about the ability of euro zone countries to refinance their huge public debt dampened investor risk appetite ahead of a French bond auction later in the day.
IBM Books $2.6 Billion Services Order with Spain’s Biggest Savings Bank
IBM, the No. 2 U.S. computer services provider, inked a 10-year services contract with Spain’s biggest savings bank, La Caixa, valued at 2 billion Euros (US $2.6 billion).
European Stocks and Euro Gain Ahead of ECB Tender
European stocks rallied and the euro was well bid Wednesday as investors priced in an improvement in the economic outlook and looked forward to a big take up by banks of the European Central Bank's first-ever offer of three-year loans.
Asian Stocks Rise on Upbeat Data, Spanish Bond Auction
Asian stocks and the euro rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt tempered risk-aversion, with investors' focus turning to a European Central Bank tender as a gauge for euro zone funding strains.
Asian Shares Fall After U.S. Deficit Deadlock
Asian shares edged down Tuesday as fears about the ability of politicians on either side of the Atlantic to tackle huge debt burdens sapped investors' confidence in the outlook for Western economies.
Australian Dollar Outlook: 3 Reasons to be Bearish
The outlook for the Australian dollar is dim, according to research from Westpac Institutional Bank, a major Australian bank.
Nigeria's rescued banks recapitalise
Nigeria's Union Bank on Friday became the last lender rescued in a $4 billion 2009 bailout to get recapitalisation approval, bringing to a close a reform programme set-up two years ago to end the country's banking crisis.
G20 Talks But No Specific Action
Finance officials from the Group of 20 nations on Thursday pledged to preserve financial stability and said central banks were ready to provide liquidity as needed, but a communique after the meeting offered few hints of fresh action to contain Europe's raging debt crisis or revive the faltering global economy.
Gold Prices Steady as Hope for Europe Falls; U.S. Dollar Up
Gold prices held steady Monday, as concerns about Europe's sovereign debt crisis, its weak financial sector and divisions among leaders about how to solve the crises drove investors into safe-haven securities like the U.S. dollar.
Global Stocks Fall as Euro Crisis Saps Confidence
Asian stocks, U.S. index futures and the euro fell on Wednesday as investors remained unconvinced that euro zone leaders have a coherent plan to tackle the bloc's sovereign debt problems, which many fear could trigger a new banking crisis.
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