Westpac pays $35m for lending breach
Westpac will pay a $35 million fine after admitting its automated system approved more than 10,000 home loans that should not have been approved.
Westpac will pay a $35 million fine after admitting its automated system approved more than 10,000 home loans that should not have been approved.
Property investors, small business owners and construction companies are the winners in this year's State budget, while public servants, consultants and mining companies will be worse off.
Property investors already grappling with cooling house prices are facing the challenge of finding tenants as oversupply of units ramps up vacancy rates.
The Reserve Bank of Australia has held rates steady at 1.5 per cent, extending a record run of policy inaction stretching back to August 2016.
The RBA's statement has given the Aussie dollar a bump.
Ten years after the worst financial panic since the 1930s, growing debt burdens in key developing economies are fueling fears of a new crisis.
Global funds manager IFM Investors is giving investors a 7.5 per cent rebate of management fees after better-than-expected returns.
Evolution Mining is determined to keep its position as one of the lowest-cost gold miners in the world, declaring it can offset cost pressures emerging across the mining sector.
The best interest test lies at the heart of protecting super fund members. But the royal commission is showing its a slippery concept.
The Yellow Brick Road founder has called Mercantile Investment Company's 9-cents-per-share takeover offer "grossly inadequate".
Fintech Valiant is making pricing in the SME lending market more transparent as it meets demand for alternatives to the big banks.
Listed Japanese staffing company Outsourcing Inc has purchased Sydney-headquartered consulting firm Project Management Partners for $40.6 million.
ASX has refined the timetable for turning on its new equities clearing system after market participants expressed concerns about its complexity.
Trade wars, an export-sapping US dollar surge, rising Fed rates, and turmoil in Argentina and Turkey may as well be on another planet as far as US equity investors are concerned.
Competition to manage the money of Asia's burgeoning army of millionaires has pushed pay hikes for wealth managers to the highest in more than a decade.
Oil prices rose, supported by concerns that falling Iranian output will tighten markets once US sanctions bite from November.
The surge of covenant-lite loans in the leveraged loan market could be a ticking time bomb.
The best interest test lies at the heart of protecting super fund members. But the royal commission is showing its a slippery concept.
Why Coronado Coal could well be the last of the Mohicans in the Australian coal industry.
Paul Keating is understandably angry about the growing calls from some conservative critics for the entire $2.7 trillion system to be dismantled.
I showed my usual financial flair in advising my daughter to buy in Sydney midway through last year. Yep, that was right around the peak of the market.
South Australian Treasurer Rob Lucas will pursue $864 million in cost-cutting over the next four years and look to privatise parts of the prison and health sectors.
Official data released Tuesday showed a wider than expected current account deficit over the June quarter as trade's contribution to economic growth dwindles.
Former prime minister Paul Keating has called on the Hayne royal commission to recommend that retail super funds be stopped from putting profits ahead of super fund members.
The energy sector says a royal commission is unwarranted and a group of Liberal MPs is urging caution over market intervention.
Amid the upheaval in national energy policy and fluctuations in wholesale electricity prices, retail power bills are down in Queensland since last year, St Vincent de Paul reports.
JD.com's billionaire founder returned to China after his weekend arrest for alleged sexual misconduct in Minnesota, where local police are investigating the CEO of one of the country's largest internet corporations.
Dairy producer Yakult Honsha Co is finding that the power of product placement is so potent it works even when it's mistaken, even boosting its share price.
President Xi Jinping plans to boost investment and trade between the two regions as he seeks to fend off criticism about the ability of the world's poorest countries to pay off loans.
Boris Johnson says UK Prime Minister Theresa May's Brexit plan will leave British citizens with 'two-thirds of diddly squat'.
Facing widespread outrage, The New Yorker has dropped plans to interview Steve Bannon during its festival next month
Lenders are increasing home loan assessment rates and overhauling the way they assess loan applicants' income in response to renewed regulatory pressure on loan standards.
Competition from big grocers, fallout from the royal commission and lower private health membership are top of mind for investors in these challenged companies.
It's crucial the right stocks are chosen for long-term returns, but you must keep things in perspective by focusing on the big picture.
As one of the 2018 The Australian Financial Review 100 Women of Influence, Rosie Batty joins a host of women who have overcome periods of hardship to rise to positions of influence.
Selling a long-term strategy is much more than charts and numbers, it’s all about having a narrative that engages.
I like to think the only people who should really worry about the push for gender equality are dopey men.
A surprising number of figures accused in the #MeToo movement are on the comeback trail - and some never really left.
Carnival Australia executive chairman Ann Sherry and general counsel Lauren Miller enjoy a rare working relationship where seniority is no bar to learning.
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